Shanghai Rural Commercial Bank cooperates as a "planter" of a better life through inclusive financial services | Nanhui | Better Life
Inclusive finance is related to people's hearts and livelihoods, and behind every service, it is linked to the happy life of thousands of households.
In June of this year, the Shanghai Municipal People's Government issued the "Shanghai Implementation Plan for Building a Quality Strong Country", which clearly pointed out the need to increase the supply of high-quality services, promote the development of inclusive finance, green finance, science and technology innovation finance, and supply chain finance, and improve the accessibility of upgrading the quality of financial services for the real economy.
As the first joint-stock commercial bank in the country to be restructured and established on the basis of provincial-level rural credit cooperatives, Shanghai Rural Commercial Bank has always put meeting the growing financial needs of the people in mind, focusing on providing inclusive financial services to the fields, streets and alleys, playing an important role in serving national strategy, local development, and people's production and life, and becoming a warm "caring bank" around the people.
Innovative services for agriculture, rural areas, and farmers
For a long time, rural financial services have been relatively weak links in the financial system. Due to the lack of effective collateral and credit support, there have always been problems such as difficulty, high cost, and slow financing in the fields of agriculture, rural areas, and farmers.
In order to break free from the constraints that restrict agricultural development, build and improve the rural credit system, and meet the growing financing needs of modern agricultural transformation and upgrading, Shanghai Rural Commercial Bank launched the whole village credit work in April 2021. After being evaluated by the "Integrity Village", villagers can obtain loans without collateral or guarantee.
In the context of rural revitalization, the construction of "Integrity Village" contributes to the construction of beautiful countryside. "Most of our village houses were built in the 1970s and 1980s, and many rural houses have experienced water leakage, roof tiles falling off, and other issues." Wang Peng, Assistant Secretary of Xingming Village in Jiading District, introduced that Xingming Village, as one of the first cluster style renovated villages in Shanghai, has 145 households participating in the cluster style housing renovation. "Due to a lack of credit support, we applied for loans from many banks with small amounts, which could not meet the funding gap for renovation and renovation."
Wherever the needs of the people are, the financial services of Shanghai Rural Commercial Bank extend to them. To support the relatively concentrated living of farmers, Shanghai Rural Commercial Bank has launched a village wide credit financial solution that combines online and offline. Innovatively customizing the "pre credit" plan, the administrative village only needs to be recognized as a trustworthy village, and villagers and their immediate relatives can obtain loans through credit, enjoying low interest rates, green channels, and online application, repayment at any time, with a revolving credit limit, effectively improving the accessibility of credit for villagers. This plan has now benefited hundreds of households including Anting Town in Jiading District, Langxia Town in Jinshan District, and Yexie Town in Songjiang District.
"Shanghai Rural Commercial Bank, Xingming Village Committee, and villagers, we sat together face-to-face to communicate, and the loan work was completed in just a few minutes. The villagers were all happy to see it succeed." According to Wang Peng, with this loan, renovating houses, improving living conditions, and giving villagers more confidence in their lives.
On this basis, Shanghai Rural Commercial Bank has also innovated its capital introduction model, granting credit through third-party guarantees, absorbing state-owned capital+social capital+collective capital, and operating through a combination of "industry+fund+base+think tank". With Fengxian Wufang Village as a pilot, it enables farmers to achieve a multi-level income increase of "rent+stock+salary"; Innovating offline products, we have issued loans for the renovation and renovation of homestead housing, addressing the funding gap for the renovation and renovation of homestead housing. The longest credit term can be up to ten years.
The prosperity of industries is an important support for rural revitalization. If the "Integrity Village" provides the foundation for financial services for villagers, then benchmarking the various financial services and products developed by modern agricultural development is a necessary means for promoting agricultural prosperity and enriching farmers.
The first sip of watermelon and peach is one of the most anticipated things for Shanghai residents every summer. Every time Nanhui 8424 watermelons and peaches successfully sell in the market and appear on the dining tables of citizens, they cannot do without the financial support of financial institutions. In order to support the prosperity of the industry, Shanghai Rural Commercial Bank took the initiative to visit and understand the actual needs of villagers. It reached a strategic cooperation with Pingping Village in Pudong New Area, and provided inclusive financial services to the members of the "Nanhui 8424 Watermelon Brand Cooperative Association" and "Nanhui Honey Peach Brand Cooperative Association", with credit exceeding 50 million yuan each for the two major brand cooperatives.
"We never thought that we could borrow money with the five words' Nanhui Honey Peach '," sighed Tao Lijie from Shanghai Taoyong Peach Industry Professional Cooperative. Relying on the exploration of trustworthy villages and the construction of rural credit systems, the basis for lending has shifted from tangible entities to intangible, bringing tangible benefits to villagers.
In September 2021, taking advantage of Pudong's "Nanhui Honey Peach" becoming the first national level geographical indication product protection demonstration zone in Shanghai, Shanghai Rural Commercial Bank innovatively launched the city's first "geographical indication" empowering trademark pledge financing business, allowing operating entities to obtain loans with the geographical indication of "Nanhui Honey Peach".
Shanghai Taoyong Peach Industry Professional Cooperative is one of the members of the "Nanhui Honey Peach Brand Cooperation Association". Last year, they obtained a loan of 4 million yuan with the geographical indication of "Nanhui Honey Peach". "In the past, by mortgaging a property, we could only obtain 70% of the loan amount of the property's value." Tao Lijie explained, "Now we don't need a mortgage property certificate, and we can still borrow more funds, which is very helpful for our cooperative."
Adhering to the fundamental principles of agriculture, rural areas, and farmers, the "last mile" of rural financial services is being opened up. Shanghai Rural Commercial Bank insists on putting the people at the center and taking concrete actions to help agriculture thrive, farmers become richer, and rural areas become more beautiful, outlining a beautiful vision of common prosperity.
Featured insurance to protect and escort
Rice is the cornerstone of ensuring national food security. In addition to ensuring the supply of rice for food security, building high-quality rice brands, enhancing the economic added value of rice or rice, and increasing the income of terminal planting farmers are new tasks in the rural revitalization stage. "Inclusive finance helps people live a better life" is the corporate mission of Shanghai Rural Commercial Bank. Only when farmers' pockets are bulging can the pace of rural revitalization become more and more confident.
Against the backdrop of the clear goal of promoting the construction of high-quality grain projects in the 14th Five Year Plan for Rural Revitalization in Shanghai, the first insurance variety in Shanghai, the Suiyou Rice Income Plan, with income protection for growers as its characteristic, has emerged. Based on the requirements of the branding construction of real estate rice in Shanghai, Shanghai Rural Commercial Bank relies on the agricultural insurance resources of insurance companies, supports green agricultural planting standards, innovates the C2F model of the entire rice industry, and achieves "high-quality and affordable benefits" to safeguard the common prosperity of farmers.
Let farmers no longer rely on the weather for their livelihoods and provide a layer of insurance for their rice. In January 2022, Shanghai Rural Commercial Bank and Anxin Agricultural Insurance Company launched a pilot cooperation program for Suiyou Rice Insurance and Banking Insurance in Jinshan. Under the income insurance model of Suiyou Rice, a large-scale grain purchasing enterprise in Jinshan District, Anxin Agricultural Insurance, and cooperative planting farmers sign a tripartite income insurance order agreement, and the receiving and storing party purchases high-quality rice planted by farmers at the promised price; Anxin signed a business agreement with the receiving and storing parties, agreeing on the unit price of rice sales insurance, and working together to ensure the planting income, greatly enhancing the ability of farmers to resist market risks.
The development of things always spirals upwards, and the birth of new insurance products is not always smooth sailing. Due to the commercial nature of this insurance, farmers have certain concerns about premium investment without receiving actual rice income.
Seeing that the villagers were skeptical about the new insurance, Shanghai Rural Commercial Bank took immediate action to proactively understand the willingness and obstacles of the farmers to purchase insurance. Through bank insurance cooperation, it provided credit support to the insured to support insurance costs. At the same time, the final rice income was used to repay the bank loan in advance, relieving the farmers of their worries.
The Suiyou Rice Insurance Bank Insurance Cooperation Plan is based on the online products of Xinnongle Loan, and is pre connected offline through the specialized team of Shanghai Rural Commercial Bank to quickly identify the needs of farmers for insurance funds. If farmers need to pay insurance fees through loans, they only need to scan the dedicated QR code to quickly obtain credit. The maximum limit for a single farmer to pay insurance fees through loans is 300000 yuan, and the entire process does not require collateral or guarantee procedures, and preferential interest rates are provided to effectively reduce the cost of funds for farmers.
As of now, Shanghai Rural Commercial Bank has helped farmers pay a total of 3.47 million yuan in insurance premiums through credit, and has promoted over 7000 mu of rice planting area under the Suiyou Insurance, promoting an increase in farmers' income of over 1.4 million yuan.
Next, Shanghai Rural Commercial Bank will take a step forward. Move the agricultural industry chain forward, innovate and build around the entire rice industry chain, organically combine "good varieties" and "good methods", connect high-quality rice varieties, key technologies for rice conservation and cultivation, rice disease and pest prevention and control, and back-end grain storage and sales guarantee, gradually build an agricultural product upward platform, further enhance the terminal value of rice sales, solve the problem of farmers' sales channels and prices from the source, and enable the people to dare to grow, grow well, and sell at a good price.
Protection remains unchanged for smaller amounts
Let inclusive finance shine like sunshine and air on the streets and alleys. After the epidemic, the Jiangyang market has become lively again and business has improved, but seafood merchants have also encountered difficulties. They haven't opened for several months, and the pressure on capital turnover has sharply increased. "At our most difficult time, Shanghai Rural Commercial Bank emerged," recalled Liu Mao, who is engaged in the Australian abalone business. Through Shanghai Rural Commercial Bank's "Micro Easy Loan", there was no need for collateral, and in three days, we received a loan of 500000 yuan, which solved the urgent situation.
This year, I have found a new stall and my cash flow is very tight. Zhao Ming is engaged in wholesale business of elephant clams, and he needs to prepay 100000 to 150000 US dollars every week. Downstream payment is settled quarterly, and if the funds cannot be connected, the business may press the "pause button" at any time.
"For the convenience of small businesses like us, customer managers always provide door-to-door services, which makes me feel quite warm." Zhao Ming introduced that he obtained a loan of 600000 yuan through the Shanghai Rural Commercial Bank Micro Loan Center, and the seafood business was able to proceed smoothly.
Holding a market owner exchange symposium, establishing a micro loan center credit service group, and having dedicated personnel stationed to serve market merchants... In order to support the development of the real economy and boost confidence, Shanghai Rural Commercial Bank's micro loan center has provided financial services for "small" enterprises since its establishment in 2022, using "small" loans to boost people's livelihoods. Adding flowers to the top is easy, but delivering charcoal in the snow is difficult. Faced with the complex and ever-changing development environment, many "small" enterprises face difficulties in production and operation. Through on-site research and visits, Shanghai Rural Commercial Bank listens to the actual needs of merchants and enterprises, accurately drips financial vitality to "small" enterprises, and takes practical actions to alleviate their difficulties, successfully overcoming development difficulties and feeling full of satisfaction.
As of the end of June 2023, the balance of inclusive small and micro loans of Shanghai Rural Commercial Bank exceeded 74.5 billion yuan, an increase of over 46 billion yuan from the beginning of 2020. The number of inclusive small and micro loan customers was nearly 44000, and the average loan balance per household was less than 1.7 million yuan, truly "doing small and dispersing".
The original intention remains unchanged, and green water flows forever. With the changing times, the extension and connotation of inclusive finance continue to expand and enrich. For more than 70 years, Shanghai Rural Commercial Bank has firmly believed that financial development is for the people, development relies on the people, and development achievements are shared with the people. It has always regarded the areas closely related to the lives of the people and realizing their pursuit of a better life through financial empowerment as its strategic main channel. In the future, Shanghai Rural Commercial Bank will continue to recognize the word "people" and earnestly practice its corporate mission of "inclusive finance to help people live a better life". It will continue to write more heartwarming stories that start from the heart, protect the people, and serve the people.
