Rural Revitalization

The Bank conscientiously implements the strategic deployment made by the CPC Central Committee and the State Council for rural revitalization, strictly observes regulatory policy requirements, devises a comprehensive "1+5+N" service plan for rural revitalization, develops distinctive service capabilities for rural revitalization, and continuously boosts the quality and efficiency of financial services for rural revitalization. As of the end of 2023, the balance of the Bank's agriculture-related loans amounted to 560.446 billion yuan, increasing by 73.516 billion yuan, or 15.10%, compared with the beginning of the year. Among them, the balance of agriculture-related inclusive loans was 41.239 billion yuan, an increase of 8.173 billion yuan, or 24.72%, higher than the average growth rate of all other loans across the Bank. Loans granted to key areas such as agriculture, forestry, animal husbandry, fishery, agricultural and rural infrastructure construction, grain industry and new type of agricultural business entities also recorded growth.

The Bank has established an Steering Group for Inclusive Finance and Rural Revitalization with the Party Secretary as the group leader, responsible for coordinating and promoting business development. It regularly convenes meetings of the rural revitalization working group, capitalizing on the advantages of inter-departmental collaboration mechanisms, and coordinating efforts to accelerate policy implementation and business expansion. The Bank continuously reinforces the establishment and staffing of rural revitalization institutions both at the head office and branches, and improves the organizational structure for rural revitalization.

Firstly, we have improved basic financial services. The Bank strengthens the construction of county-level branches, optimizes online channels such as mobile banking, online banking, and WeChat banking, and promotes the extension of payment settlement, and investment and financial management services to rural areas.

Secondly, we have expanded the credit product portfolio. The Bank focuses on key industries and critical scenarios, and has launched special credit products for rural revitalization such as the "Credit e-Sales" grain procurement loan model, loans for high-standard farmland construction, forest rights mortgage loans, and use rights mortgage loans for contracted rural land. The Bank places a focus on regional characteristics, and has released innovative localized products such as "Beautiful Countryside Loan", "Common Prosperity Loan", "Breeding Loan", and "Fishing Boat Loan".

Thirdly, we have expanded direct financing services. The Bank promotes a "Commercial Banking + Investment Bank" service model, and actively provides underwriting services for special bonds and debt financing instruments for rural revitalization.

We have bolstered credit policy support. The Bank develops separate agriculture-related and inclusive agriculture-related credit plans, breaks them down to its first-tier branches, and formulates differentiated review and approval standards. It strengthens assessment and incentive support by incorporating rural revitalization business indicators into assessments at branches and allocating special subsidies and marketing expenses.