20 April 2022, China: The Ministry of Agriculture and Rural Affairs, the National Rural Revitalization Administration and the Bank of China will work together to improve financial services in rural areas to help boost investment, a notice published on April 15 said.
According to a recently signed agreement, the three parties will carry out comprehensive, in-depth, pragmatic and close cooperation in areas such as food production, rural development and countryside governance.
Cooperative plans will be formulated for specific tasks, including promoting opening-up in the agricultural industry, supporting the development of counties that lag behind in terms of rural vitalization, and promoting urban-rural integration.
The three parties have also agreed to explore the establishment of a long-term cooperation mechanism and look to further innovate in terms of financial products and services that support agriculture, thus accelerating the modernization of agricultural and rural areas.
Furthermore, efforts will be made to promote the integration of policies and capital to attract more financial resources to help address weaknesses in the rural vitalization work and better meet diverse funding needs in agriculture and rural areas.