Recently, it was reported that Hengzhou City of Nanning, in order to guarantee farmers’ demand for funds for spring ploughing preparation, issued financial policies related to spring ploughing preparation, rationally allocated credit funds, accelerated project approval, and fully ensured orderly progress of preparation work for the spring ploughing.

Aiming at the characteristics of strong seasonality of spring ploughing production, various banking institutions in Hengzhou actively innovated in credit products and launched online pure credit products to support agricultural production, such as Yinong Loan of Rural Credit Cooperative and Huinong E-loan of Agricultural Bank of China. In addition, the city increased investment in spring ploughing-related funds, and took the initiative in serving 36 new agricultural business entities. By the end of March, 249 million yuan in new loans had been issued, and the loans to support 1,025 new agricultural business entities in developing production had reached 812 million yuan.