Premier Li Keqiang proposed in the government work report on March 5 that we should pay great attention to agricultural production and promote the all-round revitalization of rural areas.
2022 is the key year for the full implementation of the Rural Revitalization Strategy. Around the Rural Revitalization Strategy, rural finance will have great prospects. In recent years, rural finance has made great progress, and the service system has begun to take shape. However, there are still many shortcomings in rural finance, such as relatively insufficient supply, weak basic support of rural finance, lack of basic data, unclear important rights and interests, etc. the rural financial service system needs to be further improved.
To this end, the deputies and members of the national two sessions proposed to enable rural land reform and revitalize rural resources; Further improve the market system, coordinate and coordinate, and form a pattern in which banks, guarantee, mortgage, insurance, trust, securities and other financial institutions perform their responsibilities, cooperate and complement each other, and jointly serve the countryside.
short board construction
Since this year, the development of rural finance has been emphasized repeatedly. In February 22nd, the CPC Central Committee and the State Council put forward the opinions on promoting the key work of Rural Revitalization in 2022 (hereinafter referred to as “No. 1 central document 2022”), and pointed out that we should strengthen financial services in rural areas. On March 1, the implementation opinions of the Ministry of agriculture and rural areas on implementing the key work deployment of the CPC Central Committee and the State Council to comprehensively promote rural revitalization in 2022 pointed out that it is urgent to broaden the investment channels in agriculture and rural areas, strengthen financial support, and promote financial institutions to increase the credit supply for Rural Revitalization.
In recent years, finance has continued to strengthen the support for “agriculture, rural areas and farmers”, and the financial support strategy for Rural Revitalization has achieved remarkable results. However, there are still many shortcomings in rural finance that urgently need to be built.
Wen Aihua, deputy to the National People’s Congress, Secretary of the Party committee and President of China Construction Bank Corporation(601939) Hunan Branch of China, pointed out in the proposal on promoting the deep empowerment of rural finance that improving the rural financial system is a complex systematic project. Although the rural financial service system has initially taken shape, it still needs to be further improved compared with the mature urban financial system, At present, the rural financial service system is incomplete, the organization, market, products and supervision system need to be further optimized, and there are some problems, such as the market structure, service subject and financial service are relatively single.
Kong Fulong, deputy to the National People’s Congress and Secretary of the Party committee and chairman of Jiangxi Rural Credit Cooperatives Federation, pointed out that China’s rural financial system has continued to improve in recent years, but there are still obvious shortcomings. First of all, the rural financial supply is relatively insufficient. As a weak link in economic and social development, agriculture, rural areas and farmers deserve greater financial support. However, from the data, the national agriculture related loans increased by 10.9% year-on-year in 2021, which is lower than the national loan growth rate of 11.6% year-on-year in the same period; Secondly, the outflow of rural financial resources is serious.
In view of the short board construction of the financial service system, Wen Aihua suggested that the top-level design of rural finance should be further optimized, and the organization, market, products, supervision and other systems should work together: first, further improve the supervision system, establish different supervision modes according to different types of agricultural financial institutions, increase policy preference, and encourage more financial institutions to set foot in rural areas; Second, further improve the organizational system, and form policy banks, large state-owned commercial banks, joint-stock commercial banks, urban commercial banks, rural commercial banks and other banks of different nature and types under the policies, coordination and guidance of regulatory authorities, so as to provide multi-level, multi-dimensional and all-round services for rural areas in different ways and in different fields, In addition, we should further improve the market system and the financial service and product system.
From the perspective of institutional weaknesses, Kong FaLong suggested that the state strengthen the top-level design and establish China Rural Revitalization bank. He said that first, the Rural Revitalization bank should be established on the basis of rural cooperative institutions, fully considering the current situation, role and status of rural cooperative institutions (referring to rural credit cooperatives, rural commercial banks and rural cooperative banks) as the main force of rural finance, and on the basis of Integrating National Rural cooperative institutions from the perspective of minimum cost, fastest effect and most obvious function, Establish China Rural Revitalization bank; The second is to merge the county institutions of other commercial banks into the Rural Revitalization bank; Third, clarify the market dominant position of Rural Revitalization bank in the form of law.
In addition, in order to revitalize rural resources, Wen Aihua suggested: “We will promote the major reform of rural financial empowerment and rural land reform. Land reform is crucial to rural economic development. In view of its biggest difficulty, the confirmation of the ‘four rights’ such as water rights, land rights, emission rights and forest rights, it is suggested that the competent departments take the lead and government departments take the lead to establish a national unified inquiry platform and mortgage and pledge registration platform to promote the registration of the’ four rights’ Record the certification, evaluation and trading mechanism, establish an open, transparent, active and standardized circulation market for land management rights, homesteads, agricultural machinery, Shenzhen Agricultural Products Group Co.Ltd(000061) , agricultural materials and other assets, and link it with bank credit transactions to activate the largest resource in rural areas. “
system promotion
System construction is the key support to guide the financial water and revitalize rural construction.
Zhu surong, deputy to the National People’s Congress and chairman of the rural credit bank fund clearing center, believes that at present, China’s current financial laws lack special legislation on rural finance, and the relevant administrative regulations and departmental rules and regulations are of low rank and lack of authority, which is difficult to fully support the continuous improvement of the rural financial service guarantee system. Therefore, it is urgent to formulate the rural financial law.
Zhu surong pointed out that the legal responsibility of financial institutions to serve “agriculture, rural areas and farmers” should be clarified. Commercial financial institutions are an important carrier of financial resource allocation. They should bear the responsibility of serving “agriculture, rural areas and farmers”, accept legal supervision and obey the overall situation of rural strategic development. Legalizing the social responsibility of commercial financial institutions to serve “agriculture, rural areas and farmers” is conducive to implementing the policy of giving priority to the development of agriculture and rural areas and continuously optimizing the guarantee of rural financial services. At the same time, an incentive and restraint mechanism should be established to promote commercial financial institutions to continuously improve the service guarantee of “agriculture, rural areas and farmers” through fiscal and tax incentives.
It is worth noting that the central No. 1 document in 2022 pointed out that it is necessary to improve the statistical system of Rural Revitalization financial services and carry out the assessment and evaluation of financial institutions serving rural revitalization.
Wen Aihua suggested that more appropriate policy and institutional guidance should be provided for rural finance. First, promote the implementation of the policies and measures that have been issued. We will further implement preferential policies for refinancing, rediscount and deposit reserve, implement fiscal and tax reward and subsidy policies and risk sharing mechanisms, and strengthen market-oriented sharing and compensation mechanisms for agricultural credit risks. Second, increase the adaptability of fiscal and monetary policies. Enhance the adaptability of policies, especially with rural financial and credit policies, realize the linkage between investment and loan, and implement reward supplementary loan, wind supplementary loan, etc.
Fu Jun, member of the National Committee of the Chinese people’s Political Consultative Conference and chairman of the board of directors of Macrolink Culturaltainment Development Co.Ltd(000620) group, said that insurance institutions should be encouraged to innovate and develop advantageous and characteristic Shenzhen Agricultural Products Group Co.Ltd(000061) insurance according to local conditions, so as to improve the ability of new agricultural business entities to resolve business risks. According to the new changes and characteristics in the production and operation subjects, business forms and modes in the process of rural revitalization, sort out the relevant tax elements and preferential policies, appropriately relax the scope and conditions of “agriculture, rural areas and farmers” tax preferences, and provide policy support for private enterprises of all sizes and industries to participate in Rural Revitalization.
