A strong country must first strengthen agriculture, and only when agriculture is strong can the country be strong. At the ** Rural Work Conference held in 2022, the ** General Secretary emphasized that it is necessary to work hard to do a good job in the "three rural" work with rural revitalization as the focus, vigorously promote the modernization of agriculture and rural areas, and work hard to accelerate the construction of an agricultural power.
Under the guidance of the thought of socialism with Chinese characteristics in the new era, in 2023, the banking and insurance industry will make efforts in the same direction on the new journey of promoting the construction of an agricultural power, inject more financial water into the development of the "three rural" areas, and contribute more financial strength to the continuous improvement of the economy.
Focus on key areas.
Expand the optimal structure to meet the financing needs
In recent years, financial institutions in the banking and insurance industries have continued to improve their support for agricultural modernization and rural modernization, and through measures such as improving credit levels and innovating financial products, the quality and efficiency of financial assistance to agricultural power have been continuously improved.
The total amount of credit resources has expanded
According to the statistical report on loan investment of financial institutions in the third quarter of 2023 released by the People's Bank of China, at the end of the third quarter of 2023, the balance of agriculture-related loans in domestic and foreign currencies in China was 558 trillion yuan, a year-on-year increase of 151%, the growth rate is 1 higher than that at the end of the previous year1 percentage point;An increase of 6 in the first three quarters63 trillion yuan, an increase of 1 year-on-year17 trillion yuan.
According to the "Rural Small and Medium-sized Banks Stick to Supporting Rural Revitalization and Supporting Small and Rural Areas" issued by the State Administration of Financial Supervision and Administration, there are 3,862 rural small and medium-sized banks in the country, more than 70% of which are in the county area, and nearly 80,000 business outlets.
As of the end of June 2023, the balance of loans to small and medium-sized rural banks in rural areas and small and micro enterprises reached 154 trillion yuan, 161 trillion yuan, agriculture-related and small and micro enterprise loans accounted for nearly eighty percent of the total loans, and it is the main force of financial support for agriculture and small enterprises.
Innovation and optimization of agricultural products——
Agriculture-related financial products continue to innovate. For example, Beijing Rural Commercial Bank has launched a number of characteristic agricultural loans such as chestnut acquisition loans, homestead housing construction loans, new residential (operation) loans, and rural tourism loansShanghai Rural Commercial Bank has launched a series of "three rural" loans, including loans for new rural construction projects, personal loans for family farms, loans for professional farmer cooperatives and other products, and banking financial institutions provide special agricultural loan products and services for rural users to meet farmers' capital needsXingfu Village Bank, initiated by Changshu Rural Commercial Bank, has developed more than 30 special loans such as mushrooms, flue-cured tobacco, greenhouses, transportation, etc., based on local customs, rural economy and industrial characteristics, and strives to meet the differentiated loan needs of customers.
Commercial banks' issuance of special bonds for agriculture, rural areas and rural areas has been expanded. According to data from China Bond Network, since the beginning of this year, more than 10 banking institutions such as Zhangjiagang Bank, Jiangnan Rural Commercial Bank, and Zhuhai Rural Commercial Bank have issued "three rural" special bonds.
Financing needs are effectively met
According to data from the People's Bank of China, at the end of the third quarter of 2023, the balance of rural (county and below) loans was 466 trillion yuan, a year-on-year increase of 154%, the growth rate is 1 higher than that at the end of the previous year9 percentage points;An increase of 566 trillion yuan, an increase of 1 year-on-year28 trillion yuan. The balance of loans to rural households was 1667 trillion yuan, a year-on-year increase of 126%, the growth rate is 1 higher than that at the end of the previous year4 percentage points;An increase of 169 trillion yuan, an increase of 306.1 billion yuan year-on-year. The balance of agricultural loans is 58 trillion yuan, a year-on-year increase of 146%, the growth rate is 3 higher than the end of the previous year9 percentage points;In the first three quarters, it increased by 711.2 billion yuan, an increase of 207.7 billion yuan year-on-year.
Focus on mechanism building.
Optimize the financial environment and reduce financing costs
For a long time, the financial regulatory authorities have continued to promote and guide financial institutions to actively support rural revitalization, accelerate the construction of rural credit systems, reduce financing costs to meet financing needs.
Regulatory policies continue to lead——
Since 2019, the former China Banking and Insurance Regulatory Commission has successively issued the Notice on Doing a Good Job in Serving Rural Revitalization and Helping Poverty Alleviation in the Banking and Insurance Industry in 2019, the Notice on High-quality Services for Rural Revitalization in the Banking and Insurance Industry in 2021, the Work Plan for Supporting Key Counties for National Rural Revitalization, the Administrative Measures for Agricultural Insurance Underwriting and Claims, and the Actuarial Regulations on Agricultural Insurance (Trial), etc., to guide the planning banking and insurance financial institutions to make efforts in rural revitalization from the perspective of top-level design.
In recent years, the financial management department has repeatedly issued policy documents on doing a good job in financial support and comprehensively promoting the key work of rural revitalization, requiring the financial system to optimize the allocation of resources and effectively increase financial support in the field of "agriculture, rural areas and rural areas". This means that for a long time to come, the object and focus of China's financial services will gradually tilt towards agriculture and rural areas. Dong Ximiao, chief researcher of Zhaolian, said.
Accelerate the construction of the rural credit system
The construction of the rural credit system is the cornerstone of modern rural economic development. In recent years, banking financial institutions have continued to promote the creation of "credit users", "credit villages" and "credit towns (towns)", and actively carried out credit extension and guarantee for the whole village.
Through the extensive development of the construction of 'credit villages' and 'credit users', the problem of rural loans has been solved, so that 'every household can extend credit, every household can take out loans, and every village has someone to run it', and the cumulative assessment of credit villages accounts for more than 80% of the province's administrative villages, and agricultural and animal husbandry credit users account for more than 70% of all farmers and herdsmen's households. Qinghai Provincial Rural Credit Cooperatives said.
Technology empowers to reduce financing costs
In recent years, with the development of financial technology such as big data, "more errands for data, less for customers" and "loans for the field" have become a reality. A number of commercial banks said that by accelerating the promotion of technology empowerment, they will integrate various "three rural" data resources online to enrich the data dimensionGive full play to the advantages of outlets and human resources offline, strengthen cooperation with grassroots party organizations, and integrate online and offline to provide accurate portraits and universal credit to farmers.
Focus on insurance protection.
Expand the area, increase the product standard, and optimize the service system
The 2022 ** Rural Work Conference pointed out that comprehensively promoting rural revitalization is an important task for building an agricultural power in the new era, and human input, material resource allocation, and financial resources must be transferred to rural revitalization. In the context of comprehensively promoting rural revitalization, agricultural insurance has become a key part of the insurance industry to help the high-quality development of the "three rural" areas.
The expansion of the area and the addition of products continue to advance——
In April this year, the former China Banking and Insurance Regulatory Commission issued the "Notice on the Banking and Insurance Industry to Do a Good Job in Comprehensively Promoting the Key Work of Rural Revitalization in 2023" (hereinafter referred to as the "Notice"), requiring insurance companies to actively promote the expansion of agricultural insurance, expand the coverage of full-cost insurance and planting income insurance, and carry out insurance of local advantageous and characteristic agricultural products according to local conditions. Research and development of life insurance products that meet the needs of farmers.
At present, China's agricultural insurance has basically formed an agricultural insurance product supply system based on cost-guaranteed products, and various innovative products such as output insurance, income insurance and index insurance are jointly developed. From grain crops and special agricultural products to forestry, animal husbandry and fishery products, the coverage of agricultural insurance has gradually expanded.
According to the data, as of October 2023, the premium income of agricultural insurance reached 132.8 billion yuan, a year-on-year increase of 1868%。
Optimize the reduction service system——
At the beginning of 2023, the former China Banking and Insurance Regulatory Commission issued the "Opinions on Actively Carrying Out Risk Reduction Services in the Property Insurance Industry", requiring the property insurance industry to take serving the people, the real economy and social stability as the starting point and foothold of risk reduction services, and actively assist insured enterprises to carry out risk reduction work for the purpose of reducing hidden risks and major risk damages.
Since the beginning of this year, many places have been hit by typhoons and rainstorms, posing a huge threat to the safety of people's lives and property. Focusing on agricultural production risks, insurance companies have accelerated the transformation from risk equivalent management to reduced management, expanded the original passive underwriting and claims settlement to establish a risk management system integrating underwriting, disaster prevention, disaster relief and claims, and paid more attention to disaster prevention and mitigation and the pre-event and in-process disposal of risk disasters. Wang **, assistant dean and professor of the School of Insurance of the University of International Business and Economics, said.
For example, during last year's drought, insurance companies took the initiative to donate pumping equipment to the insured areas to help irrigate farmlandFor example, in the early stage of the typhoon, arrange staff to help clean the ditches and organize the early rice harvestFor example, it provides farmers with a number of value-added functions such as electronic meteorological certificates, meteorological text forecasts, conventional 5-day weather forecasts, meteorological disaster early warning information, and agricultural suggestions.
Improve the efficiency of underwriting and claims
The 2022 ** Rural Work Conference put forward new tasks and goals for strengthening the construction of an agricultural power, further clarified the direction and tasks for the high-quality development of agricultural insurance, and also put forward higher requirements.
In order to better meet diversified financial needs and improve the efficiency of underwriting and claims, insurance companies focus on the pain points and outstanding problems in the underwriting and claims business, focus on online and digital goals, closely integrate technology with business, promote agricultural insurance product innovation, service capacity improvement, business management model reform and business model innovation, launch a series of agricultural insurance technology products, strengthen technology empowerment, optimize agricultural insurance underwriting and claims services, and give full play to the role of agricultural insurance in disaster prevention and mitigation. The role of post-disaster claims settlement effectively serves rural revitalization and the construction of an agricultural power.
Lu Yuhua, former deputy director of the property insurance supervision department of the China Banking and Insurance Regulatory Commission, said at the third National Disaster Management and Risk Protection Forum held in September this year that in recent years, insurance has accounted for an increasing proportion of compensation for economic losses caused by major disasters. In particular, in the case of catastrophic disasters that have occurred since the end of July this year, the amount of pre-compensation has exceeded 7 billion yuan in just one month. "The reason why the insurance industry has not 'dropped the chain' is because the online service implemented by the insurance industry in recent years has provided strong support for the ability to pay quick compensation and full compensation. ”
Financial institutions such as banks and insurance companies need to give full play to their respective advantages, increase financial investment in the development of inclusive finance to support rural revitalization, continuously improve financial service capabilities, and continue to optimize the rural financial development environment. As far as the banking industry is concerned, it is necessary to build a service pattern of banking institutions with clear hierarchies, complementary advantages, and competition and cooperation. Lou Feipeng, a researcher at the Postal Savings Bank of China, pointed out.
Comprehensively promoting rural revitalization is an important task for building an agricultural power in the new era. Under the guidance of socialism with Chinese characteristics in the new era and the guidance of the financial regulatory authorities, since the beginning of this year, banking and insurance institutions have allocated more financial resources to the "three rural" areas, promoted and improved the multi-level, wide-coverage and sustainable modern rural financial service system, and provided strong financial support for comprehensively promoting rural revitalization and accelerating the construction of an agricultural power.
Reporter Fang Wenbin Du Xiaojin.
Real Xi Editor: Wang Xueying.