Beijing, August 5 (Xinhua) — The People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the Ministry of Finance, and the Ministry of Agriculture and Rural Affairs recently jointly issued a notice proposing the implementation of five major financial special actions to support the comprehensive revitalization of rural areas.

Specifically, these are: first, a special action to use financial services to safeguard food security; second, a special action to consolidate and expand the effectiveness of financial assistance; third, a special action to provide financial services for the development of rural industries; fourth, a special action to provide financial support for rural construction; and fifth, a special action to empower rural governance through finance.

The notice proposes expanding financial service scenarios across the entire industrial chain of grain production, circulation, procurement and storage, and processing; innovating financing models for the construction of high-standard farmland and protected agriculture; deepening financial services for the revitalization of the seed industry and agricultural science and technology; and supporting eligible seed industry enterprises in listing, quotation-based financing, and refinancing.

At the same time, differentiated financial support policies for key assisted counties will continue to be implemented, credit supply to areas that have been lifted out of poverty will be maintained without reduction, and a regularized financial assistance mechanism after the end of the transition period will be studied and planned. Solid efforts will be made in designated assistance work.

The notice also states that financing channels such as credit, bonds, equity, and leasing should be used to broaden the scope of collateral, revitalize rural assets and resources, promote the integrated development of the primary, secondary, and tertiary industries in rural areas, and support farmers in increasing incomes and becoming prosperous. In addition, loan products for the living environment should be developed, and financial support for rural living environment improvement and ecological civilization construction should be increased. Basic financial services in rural areas should be strengthened, an integrated digital platform in the field of rural revitalization should be improved, agriculture-related information should be integrated, and digital village construction should be supported.