Date
17 December 2017

Beijing pilots unique agricultural loan scheme, paper says

Beijing has launched a trial scheme that would allow farmers to leverage the operating rights to their agricultural plots as guarantees for drawing loans, with the Postal Savings Bank of China (PSBC) having extended the first batch of such loans recently, the Economic Information Daily reported Friday. Under the scheme, a farmland is not treated as a collateral, but the right to operate the plot is used as guarantee for the loan, PSBC loan manager Du Kun was quoted as saying. Over the past six months, the PSBC has granted 31 such loans worth a combined 12 million yuan (US$1.948 million), the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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