Caixin
Feb 12, 2019 08:29 PM
FINANCE

China Wants to Plant More Cash in Rural Areas

Villagers plow their fields in North China’s Henan province on Sept. 22. Photo: IC
Villagers plow their fields in North China’s Henan province on Sept. 22. Photo: IC

Policymakers are stepping up efforts to direct more funding to agriculture, farmers and rural areas as part of a five-year plan to revitalize China’s vast countryside and reduce poverty.

Rural banks are being urged to boost lending to aid economic development in agriculture and underprivileged areas, and encouraged to issue more special purpose bonds to fund projects in rural regions. The plans were outlined in a document released jointly on Monday by the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the Ministry of Agriculture.

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