Xinhua News Agency, Zhengzhou, October 7th (Reporter Li Xiaode) This autumn, Henan Province, a major agricultural province, has not only effectively alleviated farmers’ difficulties in selling grain, but also initially achieved a policy by supporting grain processing companies and buying and selling companies with better credit and market access. Acquisitions are the strategic transformation of the main body to market-based acquisitions.

Henan Province is the main producing province of summer grain in China. This year, the province’s total wheat output was 62.46 billion jins, an increase of 8.2 billion jins over the previous year, an increase of 1.3%, and the increase in production for nine consecutive years, with a record high output. However, due to the higher wheat prices than the country's pre-emptive purchase prices, the acquisition of predominantly policy-based acquisitions has not been initiated.

In the face of this special situation that may cause farmers to sell grain, the Agricultural Bank of Henan Branch, on the one hand, conscientiously completed the pre-proposal plan for the procurement of funds in support of the city; on the other hand, it took the initiative to adapt to changes in the market and actively promoted the purchase of summer grain, which was dominated by previous policy purchases. Turn to be dominated by market acquisitions.

According to Yang Bailu, deputy governor of the Henan branch of the Agricultural Development Bank, as early as this year's summer harvest, the Agricultural Development Bank conducted a careful analysis of the willingness to purchase the various market entities, and selected 287 companies as the subject of market-based acquisitions to provide credit support. . At the same time, in light of the substantial increase in credit loans in acquisition loans this year, Henan Agricultural Development Bank strengthened post-lending management and effectively conducted inventory supervision. Luohe Agricultural Development Bank also actively innovated loan guarantee methods and signed a third-party movable asset pledge supervision business cooperation agreement with Pingdingshan Branch of China Resources Development Corporation. The supervisory company arranged special personnel to monitor the acquisition of grain inventories of the company for 24 hours and discovered problems and timely reports. This not only achieved the purpose of preventing loan risks, but also achieved the organic unity of loan issuance, support acquisition and risk prevention.

The Henan Province Agricultural Development Bank actively supported a series of measures for market-based acquisitions, effectively alleviating the farmers’ difficulties in selling grain caused by the incomplete start of the purchase. According to Henan Agricultural Development Statistics, as of September 25, the Henan Agricultural Development Bank issued a total of 18.263 billion yuan in acquisition loans of various types this year, and acquired 17.701 billion jin of wheat. Among them, the leading enterprises in agricultural product processing loaned 4.544 billion yuan to purchase 4.285 billion kilograms of wheat; the grain and oil purchase and sales enterprises invested 4.511 billion yuan in loans, and acquired 4.610 billion kilograms of wheat. The acquisition volume of leading processing companies and grain and oil purchase and sales companies both increased by more than 10 times from last year.

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