The banking and insurance sectors in east China’s Jiangsu province have ramped up support for the rural revitalization strategy on a pilot basis by promoting the deep integration of financial capital and agriculture, rural areas and farmers.
In Xiaoji Town, Jiangdu District of Yangzhou City, Jing Yuanfeng, a shrimp farm owner, was seen feeding the shrimp larvae.He used to make a lot of money by breeding giant river prawn.
However, due to the impact of the COVID-19 epidemic last year, the funds were not returned in time, so that he was unable to purchase shrimp fry this year.
The local Agricultural Bank granted him a 1 million yuan loan by adopting the method of "one project, one plan, one authorization".
For industrial sectors, industrial clusters, and markets with high capital needs, the local banks have adopted the "one project, one program, one authorization" model to provide small and micro enterprises, self-employed businesses, and farmers with unified financial service programs and differentiated authorizations so as to grant loans in batches and improve the efficiency of lending.
Up to now, banks in Yangzhou have granted 1.643 billion yuan in credit loans to 3,818 self-employed businesses and rural households.
Banks and insurance institutions in Jiangsu have continued to support pilot townships to build a modern rural industrial system and comprehensively improve the rural environment.
Nantong Banking and Insurance Regulatory Bureau coordinated bank loans of nearly 200 million yuan to help Banjing town of Rugao to build a one-stop industrial chain of cultivation, planting, processing, and sales of black tacos.
Banking institutions in Xuzhou city have increased their support for road traffic and supporting landscapes, garbage sorting and disposal in Malingshan Town of Xinyi City by issuing 620 million yuan of loans to improve rural human settlements for nearly 3,000 rural households.
Insurance agencies in Huai'an city have provided risk guarantee for the development of rural tourism in Jiangba Town of Hongze District so as to ensure that tourists have access to public liability insurance.
Statistics show that as of the end of May 2021, the 19 pilot townships in the province reported a loan balance of 144.37 billion yuan, an increase of 85.4% over the start period of the pilot project. The amount of insurance totaled 144.3 billion yuan, up 137% from the start period.
