Measures issued to promote rural revitalization in Inner Mongolia

Inner Mongolia will encourage financial institutions to support rural revitalization in the region, according to a recently released guideline.

The guideline hopes to solve the imbalance and inadequacy of financial services in rural pastoral areas by providing a fundamental basis for financial institutions to support revitalization.

The four key measures put forward in the guideline are innovating financial products and services, supporting key areas and weak links, expanding financing channels and strengthening financial support in areas affected by extreme poverty.

It calls for efforts to establish a scientific credit management process, set up reasonable credit lines and explore new methods of pledging security for the operators of new agriculture and animal husbandry.

Financial institutions are required to increase their supply of green credit, support utilization of green resources as well as assist regional programs on protection of natural forest and grassland ecology.

The guideline also requires strengthening of policy coordination of credit support for mass entrepreneurship and innovation. With that the "bring prosperity to border areas and their residents" campaign would receive more credit support.

It also calls for improvement in financing services of agricultural and animal husbandry industrial chains. Financial services such as supply chain financing, order financing and e-commerce financing will be encouraged.

To strengthen financial support in areas affected by extreme poverty financial institutions are required to provide preferential policies in areas such as poverty alleviation projects, infrastructure construction, and basic public services.

The guideline also reveals plans to improve the financial service system and promote infrastructure construction in rural pastoral areas.

These measures are expected to help promote the supply-side structural reform of agriculture and animal husbandry, and the modernization of rural pastoral areas in the region.