Two departments: Encourage local governments to carry out pilot projects of special loans with interest subsidies for grain and oil planting. Strengthen credit support for emergency production bases of "vegetable basket" products.
The People's Bank of China and the Ministry of Agriculture and Rural Affairs have issued the "Opinions on Strengthening Financial Services for Rural Reform and Promoting the Comprehensive Revitalization of the Countryside". It mentions increasing financial input to ensure stable production and supply of grains and important agricultural products. It also includes actions to improve the single yield of grain and oil crops, increasing credit resources for grain-producing areas and major grain-producing counties. Moreover, it aims to expand credit input for soybean and oilseed planting, purchasing, processing, and other links. It encourages local governments to carry out special loans with interest subsidies for grain and oil planting, strengthen credit support for emergency supply production bases for "vegetable baskets" products, and enhance the organic connection between credit and prices, subsidies, insurance, and other policies. The document also suggests extending loan periods reasonably and supporting the stable development of industries such as pork, beef, dairy cows, sheep, and aquatic products through methods like revolving credit and non-principal repayment loans.
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