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Industrial Bank Changsha Branch’s Innovative Financial Support for Rural Revitalization in Hunan Province

Wang Fangyuan

China Securities Journal·China Securities Network

2023-09-20 22:26

China Securities Network News (Reporter Wang Fangyuan) Recently, six departments including the Hunan Provincial Branch of the People’s Bank of China and the Hunan Supervision Bureau of the State Administration of Financial Supervision jointly issued the “Implementation Plan for Financial Support in Hunan Province to Comprehensively Promote Rural Revitalization and Accelerate the Construction of a Powerful Agricultural Province” (Part 2) Called the “Implementation Plan”), 27 measures were introduced from 9 aspects, emphasizing that financial institutions will enrich the supply of financing products, innovate investment and financing models, and enhance the quality and efficiency of agriculture-related financial services. Industrial Bank Changsha Branch actively responded to the requirements, innovated products and services, increased assistance and support, and continued to provide financial vitality for rural revitalization.

According to reports, the Changsha Branch of Industrial Bank actively adapts to the new trend of live streaming and serves nearly 30 online live streaming companies of agricultural products through credit business, mobile payment, wealth management, wage payment and other products. As of the end of August 2023, the bank’s agricultural-related loan balance was 8.541 billion yuan, an increase of 17% from the beginning of the year.

In terms of counterpart assistance, according to the relevant person in charge of the Changsha Branch of Industrial Bank, the bank has maintained its assistance to rural contact points in the past two years. As an assistance unit and a backing unit, it has contacted and assisted 8 villages, 1 town, 1 County, since 2022, a total of nearly 2.7 million yuan has been invested in “blood transfusion” to support the infrastructure construction of contact points and assistance points, the cultivation of characteristic industries, and the development of education.

Industrial Bank Changsha Branch has always regarded rural agriculture as a key service area. It has simultaneously launched “commercial bank + investment bank” and “finance + technology” two-way empowerment to promote rural agricultural development with financial services. The relevant person in charge of Changsha Branch of Industrial Bank said that the bank will conscientiously implement the requirements of the “Implementation Plan”, continuously improve the quality and efficiency of financial services for rural agricultural development, and continue to contribute to the overall revitalization of rural areas.

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2023-09-20 14:26:00
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