Chinese Central Bank Stresses Financial Support for Rural Village Revitalisation

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The People’s Bank of China (PBOC) has issued a directive calling for greater support for the central government’s rural village revitalisation drive.

PBOC recently issued the “Opinions on Effectively Performing Key Work for Finance Supporting Comprehensively Driving Rural Village Revitalisation in 2022” (关于做好2022年金融支持全面推进乡村振兴重点工作的意见).

The Opinions call for “guiding the financial system to optimise resource allocation, pragmatically expand financial support for the Three Rurals policy, and continuing to comprehensively drive rural village revitalisation, in order to provide vigorous support to stabilisation of the macro-economy.”

Key areas of support will include:

  • Actively meeting financial needs with a focus on high-standard farming plots, spring ploughing and ploughing preparation, and grain circulation, storage and processing.
  • Strengthening financial guarantees for grain security.
  • The standardised development of supply chain financing.
  • Expanding financial support for the production and processing of key agricultural products, as well as warehousing and cold-chain logistics.