Think what farmers think, ease farmers' worries, and deliver quality services for agriculture
To better serve the industrialization of“agriculture, rural areas, and farmers”, since the beginning of this year, the Fujian Branch of Postal Savings Bank of China has targeted hot and difficult issues in financial services such as the financing difficulties of agriculture-related enterprises, accelerated its own transformation and upgrading, and actively built cooperation platforms between banks and government and between banks and enterprises. Centering on regions with relatively concentrated industries, it has vigorously promoted financial support for Fujian's distinctive industries such as marine fisheries, the tea industry, and modern agriculture, introduced new models such as mutual-aid loans and guarantee funds, and optimized processes such as business acceptance, review, and approval. It strives to achieve chain-based transformation of vertical services and clustered development of horizontal services, greatly improving the efficiency and level of“agriculture, rural areas, and farmers” services.
Focusing on distinctive new services to boost new development
On the afternoon of November 21, 2014, Postal Savings Bank Longhai Sub-branch grandly held the signing ceremony for the country's first“under-construction ocean-going fishing vessel” mortgage loan, with a credit amount of 30 million yuan. This was another major measure launched by the Zhangzhou Branch to support the marine economy after the successful issuance of the country's first batch of“vessel and net tool quota pledge loans”.
“To build the sub-branch into a‘distinctive sub-branch for small marine fishery enterprises’, credit staff actively visited fishing villages to understand fishermen's actual operating conditions, capital needs, and the bottlenecks restricting fishermen's development. The‘under-construction ocean-going fishing vessel’ mortgage loan business is an important financial measure by which Postal Savings Bank actively responds to the‘Twelfth Five-Year’ overall plan for national economic and social development and vigorously supports the development of ocean-going fisheries. The launch of this credit product effectively solves the problems of tight funds, difficult financing, expensive financing, and slow financing for fishery companies in the early stage of ocean-going fishing vessel construction, and opens up financing channels for ocean-going fishery companies.” introduced Zou Shaojian, president of the Longhai Sub-branch.
“In 2010, I told their bank that the fishing vessel mortgage loan business was very good, but the amount was too small, the term was too short, and the repayment method needed adjustment. They attached great importance to it and made adjustments.” said Cai Wenshan, village party secretary of Wuyu Village, Longhai City. The village is Fujian's largest fishing village, and the fishery output value last year exceeded 100 million yuan.
Mobile finance opens up the“last kilometer”
With 936 outlets and more than 2,000 self-service devices, in recent years the Fujian Branch of Postal Savings Bank of China has practiced the concept of“inclusive finance” through network channels spread across urban and rural areas, effectively filling the gap in financial services in vast rural areas, especially remote and impoverished areas.
“Now I can apply for a loan at home within two days, much more convenient than before.” Zhuang Youfang of Houlun Village, Huangqi Town, Lianjiang County, spoke highly of Postal Savings Bank's mobile microcredit business after applying at home to the Lianjiang Sub-branch of Postal Savings Bank for a 200,000 yuan microcredit loan.
To better serve“agriculture, rural areas, and farmers”, the Fujian Branch of Postal Savings Bank of China, under the guidance and leadership of relevant departments of the head office, actively made bold attempts in process reengineering and technological innovation. On July 30, 2014, Postal Savings Bank took the lead in conducting a pilot technological innovation for mobile microcredit business in Xiapu and Lianjiang. Credit officers needed only one mobile intelligent terminal (PAD) to complete on-site investigation, on-site photography, filing, and other information entry and collection work at the customer's home, and then complete real-time online approval in the back office, greatly shortening business acceptance time and reducing the trouble for customers of making multiple trips to outlets to handle business.
“I never expected Postal Savings Bank's services to be so advanced and convenient.” Huang Xiulan, party branch secretary of Houlun Village, Huangqi Town, Lianjiang, found Postal Savings Bank's advanced service methods and fast service efficiency refreshing, and hoped that more farmers could enjoy this modern, fashionable, convenient, and fast financial service.
Government-bank joint efforts solve farmers' loan difficulties.“Previously I would not even dare to think about it, but now we can also get loans specifically supporting farmers in our cooperative.” On the morning of April 23, 2014, after signing his name on the loan agreement, Xu Renshou, chairman of the Zhenghe County Nongjiaren Lotus Seed Professional Cooperative, and nine other farming households obtained a 1.1 million yuan loan from the Zhenghe County Sub-branch of Postal Savings Bank.
“The cooperative has contracted 1,500 mu of white lotus, 500 mu of wild rice stems, and 150 mu of mesona. At present, 120 tons of fertilizer are needed. The white lotus has been planted, but there is no capital, and there is no money secured for purchasing pesticides and chemical fertilizers. Capital is our major problem, and this loan truly solved our urgent need.” said Xu Renshou.
“During a survey at the beginning of the year, we found that local white lotus planting had great potential, and that technology and market problems could be solved by relying on large growers. At that time, the cooperative was encouraged to increase land transfer efforts and expand scale. However, in subsequent household surveys, we found that capital was the biggest problem, and lack of capital severely restricted rural development.” said Liao Junbo, secretary of the Zhenghe County Party Committee.“For a bank to lend, according to regulations, it must find someone to guarantee or require collateral. But even so, the amount of agriculture-benefiting loans is not large and cannot meet the needs of large households.”
Farmers do not have much collateral on hand that can be used for loans. What should be done? Around this idea, the Zhenghe County Sub-branch of Postal Savings Bank actively communicated with the county agriculture office. After 3 months of on-site research and product analysis, it finally applied to the higher-level bank and obtained approval for a policy-based microcredit guarantee loan product that broke through the traditional business model.
“Postal Savings Bank truly thinks what farmers think and eases what farmers worry about!” Xu Renshou exclaimed.
It is reported that this product uses fiscal funds injected by the government to establish a microcredit risk fund, relies on the microcredit promotion association supervised by the county agriculture office as the carrier, manages the credit risk fund, and provides guarantees for farmers it recommends. The bank provides a corresponding agriculture-supporting loan scale of 5 times the microcredit risk fund, and farmers can apply in the form of providing counter-guarantees to the promotion association using their own land management rights, forest rights, and so on.