Agri firms reap fruits of crowdfunding

Crowdfunding has helped boost the business of agricultural companies in the southern island province of Hainan, thanks to a financing firm's cooperation with local authorities.

CreditEase Corp, a leading Chinese peer-to-peer or P2P lending and wealth management company, has worked closely with the Hainan Equity Exchange Center, to provide crowdfunding services to local agricultural companies since last year.

As of September, six crowdfunding projects have been launched. High-worth transactions were clinched online, said Ban Miaoqi, general manager of the HEEC.