The People's Bank of China issued a circular on Wednesday requiring the financial system to optimize resource allocation, make targeted efforts, and increase financial support in the work related to agriculture, rural areas and farmers so as to continue to comprehensively promote rural revitalization, and provide strong support for stabilizing the macro economy.Udabur Wealth Management

All banking and financial institutions are required to actively meet financing needs and strengthen financial security for food security around the entire industrial chain such as high-standard farmland construction, spring plowing and preparation, and grain circulation, storage, and processing.

Banking and financial institutions must standardize the development of supply chain financial services, and increase financial support for the production and processing of important agricultural products, and the construction of cold chain logistics facilities for storage and preservation.

The banking industry must focus on agricultural product processing and the development of rural leisure and tourism industries, improve financing and settlement financial services, enrich new types of agricultural business entities and exclusive financial products for small farmers, support the issuance of rural revitalization bills, and promote the integrated development of rural primary, secondary and tertiary industries.Varanasi Investment

The central bank will continue to improve the level of rural payment services, improve rural basic financial services, continue to increase policy preferences for poverty-stricken areas such as counties that are key to national rural revitalization, and maintain credit extension to poverty-stricken areas.

The People's Bank of China will also implement the political responsibility of designated assistance and create a "demonstration field" for financial support for rural revitalization. As of the end of February, the balance of loans issued by China for agriculture, rural areas and farmers reached 44.65 trillion yuan, an increase of 11.9% year-on-year.Mumbai Stock Exchange

In the meantime, China will continue to guide banks and insurers to optimize financial services to advance rural vitalization, the country's top banking and insurance regulator has said.Guoabong Wealth Management

Financial input to ensure the supply of grains and important agriculture products in 2022 should be prioritized, the China Banking and Insurance Regulatory Commission said, pledging to step up financial support for rural industries and new types of rural business entities.Surat Wealth Management

Efforts should be made to help rural residents who settle in urban areas to fulfill their financial demand in employment, housing, medical care, education and elderly care, the commission added.

Medium- and long-term credit input should be increased to improve infrastructure and public service in rural areas, the commission said, adding that digital finance in rural areas should be promoted.