China to improve financial services to agribusiness

China will highlight rural areas as the focus of inclusive finance to improve financial institutions' ability to serve agro-related business and the efficiency of regulatory approval, said the country's top banking regulator.

Guo Shuqing, chairman of the China Banking Regulatory Commission, presided over a meeting Thursday and said the regulator will guide banking institutions to devote greater financial resources to agro-related business to support agricultural supply-side reform.

The CBRC stressed the exploration of innovative financial services, such as the deepening of a trial program granting loans secured with the management rights of contracted rural land and farmers' housing property rights.

It will also improve the requirements for the market access of village and township banks, perfect agricultural credit guarantee and insurance systems, and encourage a larger amount of social capital to invest in rural revitalization.

Contact the writer at jiangxueqing@chinadaily.com.cn