China Promotes Social Capital Investment in Rural Areas

The Ministry of Agriculture and Rural Affairs announced recently that it will guide local governments to adopt multiple measures to further guide and support private capital investment in rural areas.

Private enterprises are an important social force in helping rural development. By the end of 2020, 127,000 private enterprises had participated in the targeted poverty alleviation campaign of “10,000 enterprises helping 10,000 villages,” with assistance given to 139,100 villages and skills training arranged for 1,305,500 people, benefiting 18,038,500 registered poor people, statistics from the ministry show.

At the new stage of consolidating and expanding poverty alleviation efforts, policy efforts will be further strengthened to guide social capital to support rural vitalization.

According to the ministry, in the future, it will guide local governments to take multiple measures to build an effective platform to link themselves with private enterprises, in a bid to promote healthy and sustainable development of rural industries.

Meanwhile, the People’s Bank of China (PBC) and other departments have also adopted a variety of policy measures to guide financial institutions in innovating financial products and services, and increasing the supply of financial resources as well as credit support for agriculture, rural areas, and farmers.