Finance is the lifeblood of the national economy. Further optimizing the financing structure and unblocking the channels for funds to enter the real economy, especially weak links such as agriculture, rural areas, and small and micro enterprises, is particularly important. In recent years, financial institutions have strengthened their efforts to improve the quality and efficiency of financial services, guiding financial resources to tilt towards inclusive finance fields such as agriculture, rural areas, and small and micro enterprises. What is the effectiveness of financial support? The Economic Daily reporter visited relevant financial institutions. Ensuring the purchase of summer grain and ensuring the supply of grain and important agricultural products is the primary task of rural revitalization, as well as the focus of financial support for rural revitalization. Financial institutions will increase their support and make every effort to ensure credit disbursement. Policy finance is making efforts. This year's summer grain harvest has been abundant again, and the national summer grain procurement has entered the peak season. The relevant person in charge of Agricultural Development Bank stated that as a policy bank, Agricultural Development Bank of China attaches great importance to summer harvest work and has arranged 110 billion yuan of credit funds specifically for summer grain procurement in advance. "In order to ensure the return of summer grain particles to the warehouse, our bank has prepared a sufficient credit fund of 4 billion yuan in advance to serve the summer collection." Han Yudong, Vice President of the Agricultural Development Bank of China Binzhou Branch in Shandong Province, introduced that during the summer harvest period, the bank conducted in-depth research on 22 grain reserve enterprises, processing enterprises, and purchasing and selling enterprises, exchanged in-depth information with grain brokers, grain farmers, and others to gain a detailed understanding of the summer grain market situation. They also conducted on-site inspections of wheat growth and harvesting, analyzed the expected total output and commodity volume, and gained a comprehensive understanding of the acquisition volume and capital demand of the acquiring entities. They also closely communicated and contacted departments such as the Binzhou Agriculture and Rural Bureau, the Grain and Material Reserve Bureau, and the China Grain Reserves Binzhou Direct Warehouse to comprehensively and accurately grasp the changes in the summer harvest market and prepare for serving the summer grain procurement. Data shows that as of June 30, 2024, during the summer harvest period, the Agricultural Development Bank of China has issued a total of 64.8 billion yuan in various grain and oil purchase loans, an increase of 5.4 billion yuan compared to the same period last year, supporting enterprises to purchase 74.3 billion kilograms of grain and oil, and an increase of 20.9 billion kilograms compared to the same period last year. By variety, 41.8 billion yuan of wheat purchase loans were issued, supporting enterprises to purchase 32.4 billion kilograms of wheat; Provide a loan of 1.1 billion yuan for the acquisition of early indica rice, and support enterprises in acquiring 200 million kilograms of early indica rice; Provide a loan of 100 million yuan for the purchase of rapeseed, and support enterprises in purchasing 100 million kilograms of rapeseed. As the main force serving agriculture, rural commercial banks actively provide financial services for agricultural production. Rural commercial banks in multiple regions have actively shifted their financial resources towards grain production, assisting agricultural enterprises in resource allocation and interest rate policies. Within the jurisdiction of the Zhejiang Rural Commercial Bank system, Yongkang Rural Commercial Bank has established a long-term mechanism by reducing fees and providing interest subsidies for grain production, promoting the full enjoyment of agricultural interest subsidies. Provide more convenient, sufficient, and affordable financial services to farmers involved in loans such as "Food and Agriculture Loans", "New Agricultural Loans", "Benefiting Agricultural Loans", and "Rural Cooperative Loans" within their jurisdiction, ensure the implementation of grain interest subsidy policies, and actively solve the problems of "difficult and expensive loans" for large-scale grain growing entities. This year, a subsidy of 490000 yuan has been given to 63 major grain growing households. According to the relevant person in charge of Pinghu Rural Commercial Bank within the jurisdiction of Zhejiang Rural Commercial Bank, the bank comprehensively guarantees the provision of grain production loans, vigorously promotes "grain loans", and focuses on supporting large-scale grain growers, family farms, agricultural enterprises and other new types of large-scale grain growers. The bank issued "food and agricultural loans" to 90 households from January to May this year, with a total amount of 72.028 million yuan; The cumulative number of "Food and Agriculture Loan" customers has reached 154, with a loan balance of 131 million yuan. Insurance institutions are also actively working to provide a "protective umbrella" for food production. The reporter learned from the Jiangsu Financial Supervision Bureau that the bureau actively promotes the development of complete cost insurance and planting income insurance for the three main grains, improves the level of agricultural insurance protection, and helps to improve the rural financial service system and the mechanism for ensuring the income of grain farmers. Currently, the insurance industry in Jiangsu Province has made positive progress in insurance product innovation. PICC Property and Casualty Insurance Nantong Branch has pioneered the "Rice and Wheat Quality Insurance" nationwide, with rice and wheat quality as the insurance liability. In 2024, it has provided RMB 158 million in risk protection for 198200 mu of wheat for 513 households. PICC Property&Casualty Insurance Taizhou Branch has launched the "Wheat Harvest Rainfall Index Insurance", closely monitoring the weather conditions during summer grain harvesting, and providing over 20 million yuan of risk protection for the 166100 mu of wheat planted by 756 households. "To strengthen inclusive financial services, we need to further improve incentive and constraint mechanisms, guide more financial elements to flow to key inclusive financial service recipients such as small and micro enterprises, and continuously improve the coverage and accessibility of financial services," said Tian Xuan, Dean of the National Institute of Finance at Tsinghua University. The Guiding Opinions on the Five Major Articles for the Banking and Insurance Industry to Improve Finance, issued by the State Administration of Financial Supervision and Administration, propose to focus on pain points and difficulties to strengthen inclusive financial services. Inclusive finance should provide timely assistance, serve people's livelihoods, and promote common prosperity for all. Banks and insurance institutions should treat all types of ownership enterprises fairly and continue to increase financial support for private, small and micro enterprises, and individual businesses. Encourage the development of products and services that meet the needs of small and micro enterprises and individual businesses, and increase the investment in down loans, renewal loans, credit loans, and medium - and long-term loans. Under policy guidance, the data on inclusive financial loans in the banking industry is improving. According to data from the State Administration for Financial Supervision and Administration, at the end of the first quarter of 2024, the balance of loans (including loans for small and micro enterprises, loans for individual businesses, and loans for small and micro enterprise owners) used by banking and financial institutions for small and micro enterprises was 74.4 trillion yuan, of which the balance of loans for inclusive small and micro enterprises with a total credit limit of 10 million yuan or less per household was 31.4 trillion yuan, a year-on-year increase of 21.1%. However, there is still room for further improvement in inclusive financial services. Experts say that information asymmetry is the main difficulty factor for banks to carry out inclusive finance. Information related to small and micro enterprises is scattered across multiple departments such as taxation, industry and commerce, customs, courts, land, environmental protection, and electricity. It is difficult for banks to obtain complete information about enterprises and make accurate risk assessments. Further breaking down data barriers between departments is necessary. To break down information barriers, financial regulatory authorities are actively promoting direct data connection with tax dedicated lines and expanding the scope of "bank tax interaction" cooperation. By mining "tax+finance" data, help banks optimize credit products and support inclusive finance. In Guangxi, the tax department of Beihai City has provided a list of A-level credit rating taxpayers to financial institutions such as Guilin Bank, Bank of China, and China Construction Bank, converting enterprise tax information into financing quotas. At the same time, we will open up an online direct processing channel for "bank tax enterprises" and provide a one-stop online processing platform for "bank tax interaction" loans. The banking institutions in Guigang City, Guangxi have deepened data direct connection with local tax departments and innovatively launched inclusive financial products. "Since the beginning of this year, more than 50 enterprises have obtained loan amounts of over 93 million yuan through our 'Bank Tax Loan' platform. With the support of tax credit rating, banks can quickly understand the situation of loan customers and judge the integrity of enterprise operations." said the head of the Inclusive Finance Business Unit of Bank of China Guigang Branch. "In the future, we should vigorously promote the construction of the social credit system, strengthen credit supervision, establish a regulatory mechanism that includes pre credit commitments, in process credit classification supervision, and post credit punishment, and fundamentally solve the problem of difficult and expensive financing for small and medium-sized enterprises caused by information asymmetry between banks and enterprises and incomplete credit mechanisms." Tian Xuan said. Deepening reform to make up for shortcomings. There are still problems in China's financial system, such as insufficient efficiency, quality, and coverage. The quality and efficiency of financial services for the real economy still need to be further improved. "Facing the new goals and requirements of becoming a financial powerhouse with a higher position, wider scope, and deeper level, China's finance needs to further deepen the supply side structural reform, deepen reform and innovation, and help the Chinese economy move towards a higher quality stage of development." Tian Xuan stated. Li Yunze, Director of the State Administration for Financial Supervision and Administration, said, "There are still many shortcomings and weaknesses in financial services for the real economy. The key now is to promote the circulation of funds, capital, and assets, and smooth out the bottlenecks and bottlenecks in the process of fund circulation. We need to solve problems such as' having funds but not capital 'and patiently lacking capital, and truly connect the two channels of social fund circulation. Next, we will continue to deepen the structural reform of the financial supply side according to the deployment of this year's Government Work Report, do a good job in five major articles, and provide strong financial support for high-quality economic development. Financial services for the real economy also need to make efforts in terms of structure and quality, increase focus on major strategies, key areas, and weak links." Financial services, optimizing the supply structure of financial services. Lou Feipeng, a researcher at China Postal Savings Bank, stated that financial institutions should further enhance their sense of initiative and responsibility, accelerate transformation and innovation, explore and improve their specialized organizational structure, specialized risk control system, professional product system, and special assessment mechanism, and guide financial resources to flow more towards fields such as technology, green, inclusive, and elderly care. While improving the quality and efficiency of serving the real economy, they should also enhance their ability for stable development. Financial institutions need to improve and innovate evaluation standards and methods. In response to the characteristics of technology-based enterprises such as light assets, we will explore using talent, technology, business models, and market prospects as evaluation factors, using trademark rights and patent rights as collateral, accelerating the introduction of external credit enhancement measures, and facilitating enterprises to easily obtain financing Dong Ximiao, Chief Researcher of Zhaolian, said. Further improving the quality and efficiency of financial services requires promoting stronger cooperation among financial institutions. Xie Linghong, a researcher at the Institute of Agricultural Sciences, Chinese Academy of Agricultural Sciences, stated that not only should we promote cooperation between banks and insurance companies, but various banking institutions should also actively cooperate. Promote information cooperation and risk prevention cooperation between large, medium, and small banks, as well as state-owned large banks, and break down information barriers between departments and industries. (Lai Xin She)