18 August 2019

Financing trial helping Wenzhou livestock breeders, paper says

More than 50 livestock breeders in Wenzhou in Zhejiang province have secured loans worth a combined 40 million yuan (US$6.45 million) under a trial scheme launched by Bank of Hangzhou last year, National Business Daily reported Tuesday, citing rough data contained in a government work report. The bank began the trial with milk cow financing, with guarantees from milk producers, alleviating the problems of breeders who had traditionally found it difficult to obtain bank loans by pledging cows, the report said. The financing scheme has now been extended to live hogs as well, it said. The China Banking Regulatory Commission said in a notice earlier this month that banks should continue to improve their services and enhance financial support for rural areas.

– Contact HKEJ at [email protected]



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