The People's Bank of China and three other departments: Coordinate to establish a normalized financial support mechanism to assist rural revitalization

Recently, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the “Opinions on Establishing a Normalized Financial Support Mechanism to Help Prevent and Alleviate Poverty and Promote Rural Revitalization” (hereinafter referred to as the “Opinions”).

The “Opinions” propose to strengthen financial resource investment in key areas, improve financial services for grain and oil production, and support the enhancement of comprehensive agricultural production capacity and quality efficiency. Develop supply chain financial service scenarios such as accounts receivable financing to meet the financial needs of the entire agricultural industry chain, and expand financial support for county-level industries that promote rural prosperity. Increase medium- and long-term investment in rural infrastructure construction, and support the integrated development of “agriculture, culture, and tourism.” Strengthen the capacity building of financial services and improve the financial organization system. Deepen the implementation of financial technology empowerment demonstration projects for rural revitalization, promote the widespread application of emerging payment methods such as mobile payments, and continue to carry out evaluations of “trustworthy users, trustworthy villages, trustworthy towns (townships),” and new agricultural business entities to solidify rural basic financial services.

The “Opinions” state that efforts should be made to strengthen multi-entity financial coordination, leverage the financing functions of the bond market, and encourage financial institutions, especially local legal-person financial institutions in underdeveloped areas, to issue specialized financial bonds for small micro, “three rural” (agriculture, rural areas, farmers) projects. Build a comprehensive support system for capital markets and continue to implement “green channel” policies for enterprise listings. Innovate insurance products and services. Strengthen policy guarantees and organizational implementation, fully utilize monetary and credit policies as incentives, and guide financial institutions to continuously increase credit resources to rural revitalization, especially for those at risk of falling back into poverty and in underdeveloped areas. Establish and improve a normalized statistical and dynamic monitoring mechanism for the effectiveness of financial assistance policies, and regularly track and analyze policy implementation results.

Below is the full text:

Opinions of the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs on Establishing a Normalized Financial Support Mechanism to Help Prevent and Alleviate Poverty and Promote Rural Revitalization

In order to fully implement the spirit of the 20th National Congress of the Communist Party of China and the various plenary sessions of the 20th Central Committee, conscientiously implement the deployments of the Central Economic Work Conference and the Central Rural Work Conference, and in accordance with the requirements of the “Opinions of the CPC Central Committee and the State Council on Establishing a Normalized Mechanism to Prevent and Alleviate Poverty and Promote Rural Revitalization” and the “Opinions of the CPC Central Committee and the State Council on Solidly Promoting Rural Modernization,” this document draws on the experience of the “Ten Thousand Project,” focusing on preventing and alleviating poverty and cultivating endogenous development capacity in underdeveloped areas. It aims to accelerate the construction of a normalized financial support mechanism during the transition period, anchor rural modernization, and continuously enhance the support in terms of strength, precision, and effectiveness. This is to ensure no large-scale return to poverty, promote solid rural revitalization, advance urban-rural integration, and is hereby put forward as follows:

1. Improve the Long-term Mechanism for Financial Assistance to Key Populations

(1) Regularly support the development of populations at risk of falling back into poverty. Adjust and optimize small micro-credit policies for impoverished populations, precisely support those at risk of falling back into poverty and those who have been previously registered as impoverished and still need assistance for ongoing productive development. Tailor small credit policies for farmers according to local conditions, reasonably determine loan amounts and terms. For those who have expired small micro-credit loans but still have reasonable funding needs, actively provide continued support through farmer small credit or similar channels.

(2) Leverage financial support to drive industrial assistance. Encourage financial institutions to develop characteristic advantage industry loans based on market-oriented and legal principles, strengthen full-chain credit services for supporting industries, and, based on the actual conditions of business entities, increase support to farmers in underdeveloped areas and populations at risk of falling back into poverty. Use support policies effectively in conjunction with mechanisms linking income growth of farmers, and establish and regularly update lists of business entities with supportive and driving roles.

(3) Promote entrepreneurship, employment, and education for key populations. Continue implementing entrepreneurial guarantee loan policies, optimize and adjust support targets, and in regions with conditions, increase the upper limit of loan amounts, simplify approval procedures, and actively meet the funding needs of populations at risk of falling back into poverty and small micro-enterprises for entrepreneurship and employment. Continue implementing national student loan policies to support students from economically disadvantaged families in higher education.

2. Establish a Tiered and Classified Financial Support Mechanism for Underdeveloped Areas

(4) Increase financial support for key counties in rural revitalization. Financial institutions should further improve work plans and mechanisms, prioritize new financial funds and services for key counties in rural revitalization, and continue to tilt policies, funds, and resources toward these counties. Encourage financial institutions to leverage their expertise in integrated financing, industry planning, and public service extension to provide comprehensive financial service solutions for key counties. Maintain monitoring of financing conditions and promote the improvement of risk-sharing and compensation mechanisms.

(5) Provide follow-up financial support for resettlement areas after relocation. Focus on densely populated resettlement areas, increase financial support in fields such as characteristic industry cultivation, vocational skills training, and elderly and childcare services, to help relocated residents increase income and achieve sustainable development. Explore innovative investment and financing models, actively support infrastructure, industrial parks, and public service projects in resettlement areas. Support eligible resettlement areas in making good use of financial policies for affordable housing, and build various types of affordable housing based on needs, to help resolve housing difficulties for relocated residents.

(6) Strengthen financial support in ethnic minority regions, revolutionary old areas, and other regional areas. Further improve regional financial policies, guide financial institutions to increase resource tilt toward ethnic minority areas, revolutionary old areas, and border regions. Encourage various financial institutions to meet the financial needs of industrial transformation and upgrading in revolutionary old areas, improve service quality, and promote vitality in these regions. Strengthen financial security for border area development and prosperity, supporting urbanization, beautiful rural construction, and characteristic industries in border areas based on local conditions.

(7) Continue targeted assistance work. Financial units undertaking targeted assistance should further shoulder political responsibilities, make good use of various assistance funds, enhance the endogenous development motivation of the assisted counties’ populations, and help achieve industrial, talent, cultural, ecological, and organizational revitalization. Strengthen full-cycle management of assistance investments, establish sound asset management mechanisms. Continue to leverage the channels, funds, and information advantages of the financial system, actively connect with social service organizations in targeted counties, and form a joint effort in assistance.

3. Strengthen Investment in Key Areas of Financial Resources

(8) Support the improvement of comprehensive agricultural production capacity and quality efficiency. Provide financial services for grain and oil production, increase support for “vegetable basket” industries. Encourage financial institutions to base repayment on market-oriented operating returns, actively support high-standard farmland, water conservancy facilities, and their maintenance. Guide financial institutions to create green agricultural credit products and land quality protection insurance products. Use credit, leasing, and other methods to serve the R&D, manufacturing, and promotion of high-end intelligent agricultural machinery suitable for hilly and mountainous areas. Actively connect with the national smart agriculture initiative, increase credit support for family farms, farmers’ cooperatives, and agricultural service companies, and help improve a convenient and efficient socialized agricultural service system.

(9) Guarantee the financial needs of the entire agricultural industry chain. Increase financial support for characteristic agricultural industries, relying on key links such as production and circulation, and develop supply chain finance scenarios such as accounts receivable financing, order (warehouse) pledges, and supply chain bills under compliant conditions, providing comprehensive financial services including settlement, financing, and financial management. Financial institutions should actively connect with core enterprises and management systems of warehousing, logistics, and transportation to achieve information interconnection, improve service capacity, and risk control. Connect with the national agricultural brand cultivation plan, establish batch credit models for advantageous characteristic industry clusters, and improve service efficiency. Tailor new industries and new business models such as leisure agriculture, rural tourism, homestay economy, and e-commerce live streaming to further expand and enhance agricultural overall benefits.

(10) Expand financial supply for county-level industries that promote rural prosperity. Focus on full-chain development of dominant county industries, entrepreneurial incubation platforms, employment support workshops, and the construction of strong towns for agricultural industries. Actively explore high-fit, full-cycle financial service models to improve county industry capacity and supporting services. Increase financial support for key service consumption sectors such as accommodation, catering, cultural and entertainment, and optimize infrastructure renovation for commercial centers and logistics networks, promoting the deepening of county commercial systems. Under compliant and risk-controlled conditions, coordinate the use of policy and commercial financial resources, participate actively in urban renewal, and support new urbanization driven by county towns. Improve financial services for new residents, meet diverse financial needs such as entrepreneurship, housing, consumption, education, and elderly care, and help rural migrant populations better integrate into county development.

(11) Strengthen financial guarantees for rural infrastructure construction. Support financial institutions to participate early in project planning, and develop targeted investment and financing plans based on project construction schemes. Innovate multi-faceted financial products and service models such as syndicate loans, bundling, and overall credit, considering the quasi-public and operational nature of projects, and increase long-term investment in rural infrastructure. Actively connect with financing needs for rural roads, water supply, power grid upgrades, sewage treatment, and rural housing renovation projects, supporting rural and underdeveloped areas in improving village appearance, living environment, and disaster prevention and mitigation. Coordinate financial services for regional and cross-regional major infrastructure projects.

(12) Empower rural governance quality and efficiency. Increase financial resources for “agriculture, culture, and tourism” integration development, support rural cultural tourism and leisure industries such as farm experience, cultural experience, research bases, and outdoor camps for quality upgrading. Establish and improve mechanisms for converting moral credit into financial resources, and promote the transformation of rural spiritual civilization achievements into financial capacity. Actively participate in digital rural construction, strengthen information sharing for key digital rural projects and main entities, and increase financial support for rural digital infrastructure, digital transformation of agricultural business entities, and digital enhancement of grassroots governance.

4. Strengthen Capacity Building for Financial Services

(13) Improve the financial organization system. The China Development Bank, Export-Import Bank of China, and Agricultural Development Bank should leverage their functions to provide credit support for rural revitalization within their existing scope. State-owned commercial banks and joint-stock commercial banks should deepen rural branch network construction, favor staffing, capital allocation, and expense arrangements, and increase financial assistance. Rural small and medium-sized banks should adhere to their support role for agriculture and small businesses, continuously optimize governance and internal controls, and strengthen financial support for new agricultural business entities.

(14) Enrich financial products and service models. Financial institutions should focus on sectors with strong employment absorption and income-driving effects, build financial service scenarios, and develop dedicated financial products. Under compliant and risk-controlled conditions, explore support measures such as “loan + external direct investment,” technological insurance, intellectual property pledge financing, and various investment funds to meet the financing needs of agricultural science and technology enterprises at different life cycle stages. Rely on infrastructure such as the movable property registration and publicity system to promote financing with agricultural facilities and livestock pledges, optimize guarantee models for rural land contractual management rights, deepen financial services for collective forest rights reform, expand the scope of collateral, and increase effective credit input. Fully utilize the national agricultural credit guarantee system, promote the sinking of agricultural guarantee institutions, and improve service accessibility in underdeveloped areas.

(15) Promote digital transformation. Deepen the implementation of financial technology empowerment demonstration projects for rural revitalization, encourage credit reporting agencies to participate in agricultural credit information platforms, and focus on secure and efficient collection and sharing of agricultural-related information from departments such as agriculture, market supervision, social security, taxation, and judiciary. Make good use of platforms like the credit market service platform, the national SME funding credit information sharing platform, and the agricultural business credit direct channel to accelerate digital transformation of agricultural financial products, service channels, and business processes, and improve rural digital inclusive finance. Encourage financial institutions to use big data, artificial intelligence, blockchain, satellite remote sensing, and IoT technologies to achieve real-time data monitoring, online loan approval, and intelligent risk control, enhancing financing efficiency.

(16) Consolidate rural basic financial services. Promote the widespread application of emerging payment methods such as mobile payments, and guide convenient mobile payment services into rural areas. Strengthen the standardized bank card services for farmers, and promote the improvement of “rural revitalization themed cards” and other characteristic payment products. Progressively upgrade bank outlets for elderly and disabled accessibility, improving the sense of gain among the elderly and disabled. Strengthen rural credit system construction, continue to carry out “trustworthy users, trustworthy villages, trustworthy towns (townships),” and credit evaluation of new agricultural business entities, explore credit evaluation for characteristic rural industries, and legally carry out credit reconstruction for rural groups with trust issues, especially those at risk of falling back into poverty. Protect the rights and interests of rural financial consumers, carry out financial literacy campaigns, prevent illegal fundraising and telecom fraud, and improve financial literacy among rural residents.

5. Strengthen Multi-Entity Financial Coordination

(17) Leverage bond market financing functions. Encourage financial institutions, especially local legal-person financial institutions in underdeveloped areas, to issue specialized bonds such as micro, “three rural,” and green bonds according to procedures and regulations, raising stable, long-term, low-cost funds, and increasing local credit investment. Support eligible enterprises in bond financing, raising funds for rural revitalization projects.

(18) Build a comprehensive support system for capital markets. Increase guidance and cultivation for rural enterprise listings, helping more companies utilize multi-level capital markets for financing. Continue to implement “green channel” policies for listings of enterprises registered in previously impoverished areas. Support eligible listed companies to refinance through rights issues, private placements, convertible bonds, and corporate bonds, raising development funds for characteristic industries and agricultural technological innovation projects. Support the listing of characteristic agricultural product futures and options to provide more risk management tools aligned with rural industry needs. Continue to steadily promote “Insurance + Futures” in key counties for rural revitalization, enhancing project guarantee functions.

(19) Innovate insurance products and services. Develop insurance for high-standard farmland construction and management, and for agricultural machinery damage, in a prudent manner. Explore the creation of insurance products for supporting industrial projects, ensuring fund security and stable operation. Guide insurance companies to optimize services, improve underwriting and claims quality, and ensure claims are paid promptly and fully.

6. Strengthen Policy Guarantees and Organizational Implementation

(20) Deepen policy coordination. Fully leverage monetary and credit policies as incentives, guiding financial institutions to continue increasing credit resources for rural revitalization, especially for populations at risk of falling back into poverty and in underdeveloped areas. Maintain support for those who need continued assistance, without reducing support intensity. Implement differentiated regulatory policies, ensuring that non-performing loan rates for loans to populations at risk of falling back into poverty and loans in underdeveloped areas do not exceed 3 percentage points above the overall loan portfolio, so as not to impact regulatory evaluations or internal assessments.

(21) Strengthen monitoring, evaluation, and publicity. Establish and improve a normalized statistical and dynamic monitoring mechanism for the effectiveness of financial assistance policies, regularly track and analyze policy implementation, and optimize assessment and evaluation of financial services for rural revitalization. Encourage localities and financial institutions to summarize and promote characteristic practices and successful cases of regular assistance and rural financial services, and identify replicable and promotable models. Make full use of traditional media and emerging online platforms to enhance policy interpretation, respond to social concerns, promote advanced experiences, and create a favorable social environment and public opinion atmosphere for regular assistance and rural revitalization financial services.

People’s Bank of China

China Banking and Insurance Regulatory Commission

China Securities Regulatory Commission

Ministry of Agriculture and Rural Affairs

February 12, 2026

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