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Qualified agricultural firms are encouraged to issue bonds and
list on bourses such as the tech-heavy STAR market, a statement
jointly released by the People's Bank of China (PBOC) and five
other government departments said on Tuesday.
Regulators will also explore pilot programmes to allow some
agricultural businesses and villages to pledge their rights to
use some categories of communally-owned land as well as farmland
to apply for loans.
Beijing has repeatedly vowed to support rural revitalisation and
modernisation, with both set as this year's rural work
priorities.
But financial support for the sector by commercial banks and
insurers has been slow as lenders typically require more
valuable collateral and expectations of stable business returns.
"New agricultural business such as family-operated farms, farmer
cooperatives have gradually become important forces to ensure
stable income growth for farmers," the statement said.
Continued financial support for farmers and villages in new
agricultural businesses also helps to consolidate the country's
poverty-relief efforts, it added.
China has invested 1.6 trillion yuan ($250.22 billion) in
fighting poverty over the last eight years, state media reported
in February, lifting 100 million people out of poverty.
"The central bank will work together with other government
bodies and the financial system to enhance the accessibility,
coverage, and convenience of financial services offered to new
agricultural businesses," the statement said.
($1 = 6.3944 Chinese yuan renminbi)
(Reporting by Cheng Leng and Ryan Woo; editing by Barbara Lewis)
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