Reporter Xu Beibei reported that according to the spirit of the Central Economic Work Conference and the Central Rural Work Conference, in accordance with the "Opinions of the Central Committee of the Communist Party of China and The State Council on Comprehensively Promoting the key work of rural revitalization in 2023" decision-making and deployment, The China Banking and Insurance Regulatory Commission (CBRC) recently issued the Notice on the Banking and Insurance Industries to Comprehensively Promote the Key Work of Rural Revitalization in 2023 (hereinafter referred to as the Notice).

The "Notice" focuses on the tasks and objectives of the banking and insurance industry to comprehensively promote the key work of rural revitalization, adhere to the general tone of seeking progress while maintaining stability, adhere to the priority development of agriculture and rural areas, and put forward 15 work requirements from four aspects: focusing on the key areas of the construction of agricultural power, strengthening the capacity building of rural financial services, improving the quality and efficiency of insurance services in the "three rural areas", and strengthening supervision and guidance.

The notice pointed out that the banking and insurance industries should focus on the key areas of building an agricultural power. We will give priority to ensuring the financial supply of grain and important agricultural products in all aspects, actively serve a new round of action to increase grain production capacity of 100 million tons, explore effective modes of financial support for the construction of high-standard farmland, and strengthen financial support for key areas such as seed industry, agricultural science and technology, and agricultural machinery and equipment. We will help ensure that large-scale poverty does not return to the bottom line, actively invest in the revitalization of rural industries, innovate a comprehensive and balanced financing model for rural infrastructure construction, and continue to improve financial services for migrant workers and other new groups of citizens.

The "Notice" requires the banking and insurance industry to strengthen the construction of rural financial service capacity, improve the rural financial service system, build a well-structured institutional service system with complementary advantages, deepen the construction of the internal monopoly mechanism of banking institutions, and increase the tilt of internal resources related to agricultural finance. According to the characteristics of financing needs of agriculture-related business entities, innovate differentiated financial products and services, develop primary loans, credit loans and medium and long-term loans, and improve the digital service level of agriculture-related finance. Strengthen the post-loan management of agriculture-related credit, prevent agriculture-related credit risks, avoid excessive credit, illegal charges and other behaviors, and strengthen the publicity and popularization of financial knowledge in rural areas.

The "Notice" requires insurance companies to actively promote the expansion of agricultural insurance, expand the coverage of full cost insurance and planting income insurance, and carry out local advantages and characteristics of agricultural products insurance according to local conditions. Develop life insurance products that meet the needs of farmers. Improve the efficiency of agricultural insurance underwriting and claim settlement, and strive to achieve "willing to do all the protection", "should pay all the compensation", "fast compensation and early compensation".

The "Notice" requires continuous strengthening of supervision and assessment guidance, and stable increase of agriculture-related credit input. The assessment and monitoring targets for agriculture-related credit, county-level financial services, rural basic financial services, financial supply in poverty alleviation areas, and credit in key areas of food have been clarified. Regulatory departments at all levels are required to do a good job in monitoring and assessment, optimize the environment for the development of agriculture-related finance, actively promote the standardization and standardization of agriculture-related credit information platforms, promote the improvement of the rural property rights transfer market system, improve the agriculture-related financial risk compensation mechanism, and strengthen pilot exploration and demonstration guidance.

Managing Editor: Yuan Hao