Agricultural Bank of China to Use Big Data Analytics to Help with Farm Loan Distribution

Agricultural Bank of China Ltd, the third largest commercial lender by assets in China, deepened its application of big data analytics to the online offering of loans without collateral to farmers, to improve risk control and reduce costs. “We innovate online financing products based on data analysis by digging into our clients’ financial assets data,

China’s Ministry of Agriculture to Spend USD 200 million to Train Farmers

China will spend 1.5 billion yuan ($200 million) on its drive to professionalize farming, which the Minister of Agriculture claimed will make “everyone want to be farmers.” Participants will be encouraged to use modern machinery rather than manual labor, be educated in environmentally friendly farming techniques and will be taught up-to-date land management knowledge, the

China to Revise Law on Farmers’ Specialized Cooperatives

Draft revision to the Law on Farmers’ Specialized Cooperatives was submitted to the Standing Committee of the National People’s Congress (NPC) for reviewing Thursday [22 June 2017]. The draft expands the scope of specialized cooperatives, adding several new businesses to the cooperatives, including folk arts and crafts, leisure agriculture, and rural tourism…Full Article: ECNS.cn June

Agriculture-related Loans Topped CNY 28 Trillion at the End of 2016

Chinese banks strengthened financial support for agriculture, small-and-micro enterprises and affordable housing projects last year. Outstanding agriculture-related loans stood at 28.2 trillion yuan (about 4.1 trillion U.S. dollars) at the end of 2016, up 7.1 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission. Outstanding loans

Alibaba’s Ant Financial Services Plans to Dole Out CNY 1 Trillion in Rural Loans Over the Next 3 Years

Ant Financial Services Group, Alibaba Group Holding Ltd’s financial-services affiliate, has ramped up its expansion in rural finance-with the company announcing on Tuesday [20 December 2016] that it will provide so-called acquaintance-based loan services, big data-based online loan services and supply chain financing for the rural population in China. Acquaintance-based loan services is a new

The State Council Issues Guidelines to Support Rural and Agricultural Entrepreneurship Amid a Migration Slowdown

A new guideline supporting rural entrepreneurship and innovation will enable more migrant workers, college graduates and those in high-tech sectors to start businesses in rural areas and help improve the efficiency of the agricultural sector, a senior official said. In a guideline issued late last month [November 2016], the State Council said it would further