From the start of this year, Xinghua Rural Commercial Bank, located in Xinghua city, East China's Jiangsu province, disbursed 713 million yuan ($97.25 million) of spring plowing reserve loans as of the end of March.
The action has provided strong financial support for Xinghua's food security and agricultural development.
Catering to the short, frequent, urgent and short-term financing needs of spring plowing farmers, the bank has reduced its approvals process, shortened its loan approvals cycle and provided farmers with comprehensive services including consultations and credit support.
It's also utilizing mobile banking and online banking and other channels to build an intelligent approval platform, which can cut down on investigation times and improve reviews and approval efficiency.
In terms of its settlement services, the bank has opened online banking and bulk payment services for spring plowing enterprises, providing fast and convenient financial services.
It has also offered all-day operation services for the business enterprise online banking system to ensure the safe, efficient and continuous allocation of funds.
Overall, the bank's wider coverage of inclusive financial service points can now quickly meet the funding needs of farmers.