The People's Bank of China and two other departments encourage financial institutions to innovate financial products and service methods, and explore the "agricultural insurance + financing" model.

In order to further implement the spirit of the 20th National Congress of the Communist Party of China and the previous sessions of the 20th Central Committee, implement the requirements of the Central Document No. 1 deployment, deepen the study and application of the experience of the "Millions of Projects", innovate rural revitalization investment and financing mechanisms, expand the scope of agricultural and rural collateral, activate rural resources, and help promote comprehensive rural revitalization, the General Office of the People's Bank of China, the General Office of the Ministry of Agriculture and Rural Affairs, and the General Office of the China Banking and Insurance Regulatory Commission recently issued the "Notice on Promoting Agricultural Facilities and Livestock Collateral Financing". The notice emphasizes the importance of agricultural facilities and livestock collateral financing, focusing on high investment value and demonstration-driven agricultural facilities, as well as livestock with clear ownership for collateral financing, gradually establishing standardized management systems, and improving risk prevention and resolution mechanisms. It also promotes the registration and rights confirmation of agricultural facilities and livestock, establishes and improves work processes such as declaration, investigation, verification, and public announcement, and promotes the application of digital technologies such as electronic ear tags and biometric identification. Scientifically evaluate the value of agricultural facilities and livestock, and encourage local governments with conditions to establish evaluation institutions and supporting management systems for personnel.