The development of modern agriculture calls for financial service innovation

"for a long time, due to high risks, long benefit cycle and other factors, the difficulty and high cost of financing for agriculture, rural areas and farmers has become a clich é. Due to this restriction, it is difficult to expand the agricultural scale and update the equipment and technology, which seriously restricts the process of China's agricultural modernization. " A few days ago, at the 2015 Forum on Innovation and Development of Modern Agricultural emerging Industries and Financial Services held in Beijing, relevant experts believed that the development of modern agriculture urgently calls for financial service innovation.

This forum, sponsored by the High-tech Agriculture Professional Committee of the Chinese Agricultural Association, with the theme of "New Agriculture, New Technology, New Finance, and New Culture", hundreds of entrepreneurs, economists, bank executives, financial service institutions and big growers from all over the country who are committed to the development of high-tech agricultural industries gathered together to discuss the topics of modern agricultural development and financial service innovation.

Centering on the country's 13th five-year Plan, the participants conducted in-depth discussions on changing the mode of agricultural development, adjusting and optimizing the industrial structure, promoting innovation-driven development, speeding up the pace of agricultural modernization, deepening rural financial reform and innovation, promoting ecological finance and benefiting agriculture, accelerating the docking of agricultural industry and financial services, and promoting capital markets to serve modern agriculture.

In recent years, due to the gradual withdrawal and merger of state-owned commercial banks below the county level, the carriers of rural financial services have been greatly reduced, and financial "blind areas" and other phenomena exist universally. Traditional finance has been unable to meet the growing demand for multi-level and inclusive financial services in the rural economy.

"people engaged in agriculture lack the support of financial services, and people engaged in finance do not know much about agriculture and rural areas." Liu Zhiren, counselor of the State Council Counsellor's Office, said at the forum that the overall development of China's rural finance is not satisfactory. Although policy banks and commercial banks have issued many rural financial policies, they have more restrictions and less help. Liu Zhiren believes that accelerating the innovation of rural financial services has become an important issue that must be solved in achieving the goals of agriculture and rural areas during the 13th five-year Plan.

Zou Pingzi, chief researcher of the Research Bureau of the people's Bank of China, believes that the development of Internet agricultural finance is a way to innovate rural financial services, using the model of funds, securities and the Internet to support agricultural transformation and upgrading. Credit asymmetry is the biggest problem in the financing of agriculture, rural areas and farmers in China. The foundation of finance is credit, and the basis of credit is property right. Zou Pingzu also said that with the acceleration of the rational positioning of the three rights of rural land in China, the potential of securitization and credit of rural land will be released, and the difficulty of financing for agriculture, rural areas and farmers is expected to be alleviated.