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Inclusive Finance | Bank of Shanghai supports high-quality agricultural development with diversified financial services

Inclusive Finance | Bank of Shanghai supports high-quality agricultural development with diversified financial services

The Central Financial Work Conference pointed out that finance should provide high-quality services for economic and social development and should do a good job in inclusive finance and other five major articles. Focusing on the financial service needs of “agriculture, rural areas and farmers”, Bank of Shanghai’s inclusive agriculture-related financial services have released due financial support from many aspects such as service platform, product innovation, and technological empowerment.

  Financial services build a platform for convergence

  Enhance development confidence

The Bank of Shanghai focuses on “guaranteed loans to assist farmers” and platform scenario loan products, and strengthens cooperation with agricultural-related platform institutions and local small, medium and micro guarantee funds to form a joint force between the government and banks. In April 2023, Bank of Shanghai signed a strategic cooperation agreement with the Shanghai Municipal Agriculture and Rural Affairs Commission, Finance Bureau, and Anxin Agricultural Insurance, and officially launched Agricultural Guaranteed Loan 2.0, focusing on the five major agricultural fields of “rice, pigs, vegetables, fisheries, and fruits”. A new financial support business model that is in line with Shanghai’s agricultural advantages and close to the needs of agricultural business entities. The first is to create a convenient approval process to speed up the processing time; the second is to give full play to the synergy of policies, and the agricultural authorities at the two levels in Shanghai and all parties jointly establish a recommendation mechanism to implement services; the third is to establish a service base to provide comprehensive service guidance, Improve service levels for agriculture-related entities.

Financial product innovation improves efficiency

  Inject development momentum

As the service targets of inclusive finance, rural small, medium and micro enterprises are an important vehicle for farmers to increase their income and become rich. Combining the characteristics of the industrial chain and the needs of customer groups, Bank of Shanghai uses the “upstream e-chain” supply chain financial service platform and relies on real transactions in the industrial chain to endow accounts receivable with standardized “electronic payment vouchers” that can be split and transferred. The credit of core enterprises is extended to upstream N-level farmers and suppliers, so that credit resources can be accurately allocated to support the production and operation of “agriculture, rural areas and farmers” and small businesses in the industrial chain, and improve the availability, coverage and timeliness of financial services. In addition, the Bank of Shanghai has deepened its cooperation with the Municipal Financing Guarantee Center based on the supply chain scenario, providing guarantee fund batch loan products for local suppliers of Dingdong Maicai in Shanghai, and gradually embarking on the path of financial innovation to serve the development of “agriculture, rural areas and farmers”.

For example, to provide financing for Dingdong Maicai’s small and medium-sized agriculture-related suppliers, Bank of Shanghai provides reverse factoring services through the “Uplink E-Chain” platform. In 2023, a total of more than 7.8 billion yuan in financing has been issued to the upstream suppliers of Dingdong Maicai Group, and a total of 758 customers have been served.

The Bank of Shanghai also leverages the advantages of “pan-core” supply chain financial services and relies on the “information flow, logistics, and capital flow” of the agricultural and animal husbandry platform to explore the supply chain de-core model to solve the problem of difficult and expensive financing for platform customers in the order procurement process.

  Financial technology empowers strong support

  Improve development quality and efficiency

With the rapid development of the digital economy, treasury management construction has become the entry point and breakthrough for the digital and intelligent transformation and upgrading of financial management of agricultural enterprise groups. Focusing on customer needs, combined with service experience in the field of treasury management, and relying on the application of its own digital transformation results, Bank of Shanghai has built a “1+4+X” treasury management service system with cash management as the core, based on user experience, and created a “technology + finance” + Ecology” three-dimensional, one-stop exclusive service features, and relying on professional services such as E-view, E-management, E-mediation and E-company, to better support agricultural enterprise groups to improve real-time monitoring and overall deployment of financial resources and serve corporate operations. develop. Up to now, Bank of Shanghai has provided various treasury management services to agricultural enterprises such as Shanghai Guangming Group, Pudong Agricultural Development Group, Fengxian Agricultural Development, Sunqiao Modern Agriculture, etc., empowering corporate development with financial technology.

  Financial tools help rural revitalization

  Achieve win-win development

To revitalize rural areas, infrastructure construction is the foundation. The Bank of Shanghai actively promotes the issuance of rural revitalization bonds, continues to improve rural people’s livelihood, and promotes the high-quality development of rural areas and farmers. In 2023, Bank of Shanghai successfully launched the first “carbon neutral bond/special rural revitalization” double-labeled green debt financing instrument in Shanghai. Adhering to the development concepts of green China and rural revitalization, the bank raised funds for renewable energy power generation (wind power, photovoltaic) project, and 100% of it is used for rural construction, which helps to improve the energy supply structure, enhance energy conservation and emission reduction effects, optimize regional air quality, improve the rural electricity environment, consolidate the results of poverty alleviation, and achieve environmental benefits, economic benefits and Win-win for social benefits.

The Central Financial Work Conference proposed five major articles including inclusive finance. As a financial state-owned enterprise, the Bank of Shanghai will insist on serving local governments, serving entities, and serving small and medium-sized enterprises. It will work hard and achieve long-term results to accelerate the construction of a high-quality inclusive financial system. , meet the diverse financial needs of the people, and continue to polish the brand foundation of finance for the people.

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