Promote the innovation of rural property right financing system

The "decision" adopted by the third Plenary session of the 18th CPC Central Committee proposes to give farmers the right to mortgage and guarantee the right of contracted management, and carefully and steadily promote the mortgage and guarantee of farmers' housing property rights. In 2014, specific arrangements were made in the Central No. 1 document. The introduction of these two documents will certainly provide a strong driving force for promoting rural financial reform. At present, rural property right mortgage financing represented by land contractual management right has been carried out in some areas of the country, summing up the working practice of domestic rural property right financing, learning from the advanced experience of developed countries, exploring the ideas and paths of rural property right financing and forming a replicable and popularizing model, which is of great significance for deepening rural reform.

Research and judgment on the Development trend of Rural property right financing in China

Reviewing the domestic working practice and studying the advanced experience of foreign areas, the development of rural property rights financing in China will show phased characteristics, which can be divided into three stages: guaranteed financing, mortgage financing and property rights bonding. at the same time, as a new model, network credit will become a supplement to rural financing. generally speaking, the development of rural property rights financing is three stages and four modes.

Guaranteed financing, mortgage financing and bondage of property rights can be divided into different levels of development. from low level to high level, this development trend is not inevitable and needs to be realized through efforts. It is necessary to realize this development to invigorate rural resource assets and promote rural property right mortgage financing. The three stages and four models may co-exist for a long time, the initial stage will be mainly guaranteed financing, the medium-and long-term will be dominated by mortgage financing, the long-term will be dominated by property rights bonds, supplemented by mortgage financing, network credit as a supplement, the three modes will coexist.

Thoughts on Mortgage financing of Rural property Rights

Promoting rural property rights financing is an important part of deepening rural reform, which is to carry out innovation in the "deep water area". The situation is complicated and the work is complicated, which not only needs the top-level design, but also needs to "get rid of the arm". Based on the study of foreign advanced experience, domestic exploration practice and Tianjin ideas, the ideas of rural property rights mortgage financing are as follows:

(1) to confirm the authority to issue certificates. To promote rural property rights mortgage financing, we must clarify the property rights, confirm the rights and certificates, and give farmers the property rights to the land. Tianjin actively carried out the work of confirming the rights of contracted management of rural land, forest rights and agricultural facilities, and implemented the contracted management rights of land, forest rights and agricultural facilities to households by means of confirming the rights of land and shares.

(2) publicity of ownership. At present, there are mortgage registration links in rural property rights financing in China, but there are some problems, such as excessive dispersion of registration authorities, disunity of registration rules, inconvenience of inquiry, and deficiency of paper registration, which are prone to disputes such as illegal mortgage and fake mortgage. Tianjin unifies agricultural facilities mortgage registration and inquiry publicity, and forest rights inquiry publicity to the financing registration service institutions approved by the central bank, which is an important innovation in Tianjin.

(3) mortgage financing. Rural property rights mortgage financing plays an important role in the development of modern agriculture in developed countries, and it is an important content and breakthrough for our country to deepen rural financial reform. In the mortgage financing of rural property rights, Tianjin focuses on strengthening agriculture, enriching the people and increasing efficiency, mainly promoting mortgage financing for three types of projects: new business entities, emerging business forms and industrial upgrading, so as to promote large-scale land management and develop modern agriculture.

(4) guarantee and increase credit. In the current situation, credit guarantee is the key to promote rural property mortgage financing. Tianjin chartered to set up a municipal agricultural investment guarantee company with full financial contribution, to study and formulate a cooperation mechanism with district and county guarantee agencies for joint guarantee, co-insurance and re-guarantee, so as to guarantee and increase credit for rural property rights mortgage financing.

(5) transfer and disposal. The disposal of non-performing assets is an important part of rural property rights financing. At present, there are mainly two kinds of disposal of non-performing assets in China: directional circulation, such as Shouguang, Shandong, and non-directional circulation, such as Chongqing. Tianjin will set up an asset management company to dispose of non-performing assets in combination with the Tianjin Rural property Exchange.

(6) Policy guarantee. Rural finance is a weak link in rural development. To promote rural property rights financing, the government needs to take the initiative. Tianjin will formulate financial support policies, discount interest on rural property rights mortgage loans, subsidize guarantee fees, compensate for risks, and issue judicial protection opinions to provide judicial protection.

Suggestions on promoting the Innovation of Rural property right financing system

(1) to improve the mechanism of rural property rights financing system. Improve laws and regulations and clear legal obstacles. We will establish and improve a strong working mechanism and promote the determination of rural property rights and financing as a whole. We will formulate and improve supporting systems for confirming rights issuance, ownership registration, value evaluation, transaction circulation and asset disposal, refine and standardize various processes, develop property rights trading markets and intermediary organizations, and form a complete and closed cycle system. Establish and improve the rural social security system to provide social security support for the realization of rural property rights financing function.

(2) to establish and improve the risk diversification mechanism. Compared with the financial discount, project support and other support funds, the risk compensation fund has a stronger leverage on financial resources. It is suggested that the central government and local governments should set up a risk compensation fund for rural property rights financing. As for the risk compensation fund, we should not only build it, but also put it into use in order to play a real role. Establish a risk-sharing mechanism for banks, small loan companies and other lending institutions and guarantee institutions. We will develop and improve the agricultural insurance system, which is dominated by policy insurance and supplemented by commercial insurance, and establish a cooperation mechanism for banking, insurance and guarantee.

(3) to clarify the subject matter of rural property rights financing and establish a unified publicity system for rural property rights mortgage registration. Rural property right is a right system formed with the real right of collective land as the core, which is enriched with the rural economic and social development and the improvement of laws and policies. At present, in the practice of rural property right financing, the use of land contractual management right for financing is actually land management right for financing, and the subject matter is not clear. Clearly defining the subject matter of rural property rights not only helps to protect the interests of farmers as collective members, but also helps to protect the interests of actual land operators (such as direct grain subsidies), which is meaningful both in theory and in practice. At present, the state is promoting the real estate registration system, which should be combined with the mortgage financing of rural property rights to establish a unified mortgage registration publicity system to publicize the true ownership of the collateral, reduce financing costs and provide financing efficiency.

(4) strengthen positive incentives and rigid constraints. Positive incentives such as loan discount, incremental incentives, differential currencies and regulatory policies have played an important role in promoting the development of rural finance. Local governments can allocate the proportion of financial deposits in financial institutions in accordance with the principle of "year-on-year savings and loans" and guide financial institutions to increase the investment of agriculture-related loans. Under the market mechanism, credit funds are easy to flow to low-risk areas, and the development of rural finance requires not only positive incentives, but also rigid constraints. Legislation should be adopted to strengthen the responsibility of financial institutions, especially policy institutions and county institutions, to support agriculture. We will increase the design of mandatory indicators such as the increase or decrease of "three belts and one" and the growth rate of agriculture-related loans not lower than the average growth rate of loans, so as to correct "market failure".

(5) strengthen the innovation of rural finance. At present, rural financial products mainly copy urban products, continue traditional products, and affect the development of rural finance. In view of the characteristics of rural property rights financing and new business subjects, we should strengthen product innovation, adapt to the development trend and financing needs, and design "right products". Innovate rural Internet finance, promote the innovative application of Internet finance, encourage the combination of financial institutions and agricultural e-commerce platforms, and play a positive role in alleviating the difficulties of financing in rural areas. Explore rural property right financing methods such as land management right trust and collective equity financing.