What other services can the Agricultural Bank of China provide to farmers?
"My loan is now repaid quarterly, and during the busy farming season I really can't spare the attention, so it would be great if the repayment cycle could be extended." said Mei Jun, a post-80s family farm owner in Yonghong Village, Touzao Town, Dongtai City, Jiangsu.
Nie Ming, a major grain grower from Xintaizi Town, Tieling County, Tieling City, Liaoning, said: "The profit from farming is relatively low, so it would be even better if there could be some subsidized loans."
Ge Xiang, head of the Dashengshou Agricultural Cooperative in Fuyang City, Anhui, asked: "Can joint guarantee loans for major grain growers be offered? Can the credit loan limit for farmers be expanded a bit more?"
20 major grain growers and agricultural business operators from Shandong, Anhui, Liaoning, Xinjiang and other provinces and regions attended the first financial training class for new types of agricultural business entities held in Beijing by the Agricultural Bank of China recently. At the seminar specially convened during the training class between relevant ABC departments and major grain growers, representatives of these new types of business entities spoke one after another about their financial needs in production practice.
In response to everyone's questions, Liu Renju, head of the Farmer Finance Department of the Agricultural Bank of China, introduced the innovative guarantee methods developed by ABC to solve the loan guarantee problem, as well as pilot situations in some regions.
ABC Jiangsu Branch actively innovated loan guarantee methods, cooperating with the Jiangsu Provincial Department of Finance and the Jiangsu Provincial Agricultural Commission in a three-party arrangement to establish a government credit enhancement mechanism and sign the "Jinnong Loan" Risk Compensation Fund Cooperation Agreement to support the development of modern agriculture. The "Jinnong Loan" follows the model of "ABC + risk compensation fund guarantee + farmer," using the fiscal risk compensation fund provided by the government as guarantee to issue loans to eligible members of farmer professional cooperatives, major specialized households, family farms and other new types of agricultural business entities throughout the province, with a single-household financing amount not exceeding 2 million yuan. In response to policies concerning new types of agricultural business entities and rural land property rights reform, the branch also introduced dedicated "three rural" products such as agricultural industry chain farmer loans, major specialized household (family farm) loans, rural land contractual management right mortgage loans, and farm machinery purchase farmer loans.
"I have planted 122 mu of land in my village through land transfer, half for wheat and rice and half for high-efficiency greenhouse agriculture. At the same time, I contracted 800 mu of land in Xinxing Town, Tinghu District, and built steel-frame greenhouses. What supported me in realizing this family farm dream was Jiangsu ABC's 'Jinnong Loan.'" Mei Jun hopes more fellow farmers can learn about and enjoy ABC's financial services.
Zhao Zhongshi, ABC's business director for "three rural" operations, told the major growers that serving "three rural" is the eternal theme of the Agricultural Bank of China, and that the development of new types of agricultural business entities is one of the important trends in current and future modern agricultural development. In 2015, ABC plans to hold 2-3 training classes for new types of agricultural business entities at the head office, tier-one branches and tier-two branches respectively, with the total expected to be around 1,000 classes, training tens of thousands of new types of agricultural business entities. At the same time, according to the "Scale Agriculture - Ten Thousand Households and Ten Thousand Cooperatives" plan, this year ABC will newly support 150,000 scale farm households (major specialized households and family farms), providing them with comprehensive financial services, and plans to add more than 20 billion yuan in farmer loans.