Farmers' entrepreneurship and innovation need strong support from rural finance

Not long ago, the Ministry of Agriculture issued a notice to deploy and implement an action plan to advance farmers' entrepreneurship and innovation. As rural financial institutions, they should actively cooperate with the action plan to advance farmers' entrepreneurship and innovation, fully leverage the "incubation" and "catalysis" functions of rural finance, so that farmers' entrepreneurship and innovation activities can take root and bear abundant fruit.

First, change the mindset that little can be accomplished. Rural financial departments should change the outdated notion that farmers' entrepreneurship and innovation involve high risks and that little can be accomplished, take proactive action, and do a good job in the various foundational financial tasks for farmers' entrepreneurship and innovation. Second, change the mindset of fearing risk-taking. Rural financial departments should change the mindset of fearing risk-taking, proactively carry out dialogue activities with entrepreneurial and innovative farmers, understand the dynamics of farmers' entrepreneurship and innovation, and identify potential industrial projects among them; at the same time, strengthen exchanges and cooperation with governments at all levels, establish risk funds, compensation funds, and guarantee funds to support farmers' entrepreneurship and innovation, and improve the risk-resistance capacity of rural financial departments in supporting farmers' entrepreneurship and innovation. Third, change the traditional credit mindset. Implement an equal support policy for all farmers participating in entrepreneurship and innovation, and overcome the past financial policies of "supporting the rich but not the poor" or "making distinctions." Make full use of their own information technology advantages to implement a support policy for entrepreneurial and innovative farmers that combines "capital support" and "intellectual support." Focus on new agricultural industries, promote farmers in forming new models of entrepreneurship and innovation and transforming into professional farmer managers, and improve the financial service system for farmers' entrepreneurship and innovation. Fourth, change the traditional service concept. According to the characteristics of farmers' entrepreneurship and innovation and their funding needs, continuously innovate financial service methods, research and develop new financial service products, effectively solve the shortage of financial services for farmers' entrepreneurship and innovation, and provide farmers with fast payment and settlement services and a modern financial service experience. Improve and perfect the mechanism combining policy insurance and commercial insurance to enhance farmers' risk-resistance capacity in entrepreneurship and innovation. Increase investment in service facilities, change the backward face of financial services, and let farmers fully enjoy inclusive financial services in entrepreneurship and innovation.