High-quality Development Path of Henan Agriculture and Rural Areas Empowered by Digital Inclusive Finance

By studying high-quality development process of Henan agriculture and rural areas empowered by digital inclusive finance,it is found that the construction of digital financial infrastructure in Henan Province is relatively complete,and the level of deposit and loan of rural enterprises and farmers is constantly improving,and the market and government are constantly upgrading the financial risk insurance compensation mechanism.At the same time,there are also problems such as insufficient demand and supply of digital finance,single digital financial products,and weak market supervision.Based on this,some implementation paths are proposed,such as continuing to strengthen the construction of rural financial infrastructure in Henan Province,improving farmers’financial literacy,and enriching digital financial products and services.The government should continue to improve the construction of market system,and broaden the market supervision and management,to actively promote the digitalization of agricultural finance to enable the high-quality development of agriculture and rural areas in Henan Province.

The Role Played by Agricultural Policy-based Finance in New Village Construction

The necessity of the agricultural policy-based finance in terms of supporting the new village construction is analyzed: in the first place, the theoretical roots of agricultural policy-based finance supporting new village construction are "market failure" and "government intervention"; in the second place, the continual decline of agriculture and the "rural financial market failure" in recent years have become the objective evidence and historical mission for agricultural policy-based finance to support new village construction; in the third place, the combination of agricultural policy-based finance and new village construction is conducive to solving the "three agriculture" problems and facilitating the reform of new village construction. The feasibility of the support is analyzed: firstly, agricultural policy-based finance boasts the status and position of the "primary drive" in new village construction; secondly, the nation continuously deepens the reform of rural financial system and policy-based banks and strengthens the functions of Agricultural Development Bank, which provides policies for agricultural policy-based finance to support new village construction; thirdly, the 14 years' reform and development of Agricultural Development Bank and the eleventh five year plan lay sound practical basis for the support of agricultural policy-based finance to new village construction. Based on the necessity and feasibility, the following six aspects are analyzed to fully display the function of the "first engine" of agricultural policy-related finance to new village construction. Firstly, strengthening the credit and loan aid to grain and cotton and some other agricultural products in the circulation domain; secondly, strengthening the credit and loan aid to agricultural industrialization in processing field; thirdly, intensifying the credit and loan aid to agricultural comprehensive development, rural infrastructure construction, application and promotion of agricultural technology, agricultural production means and agricultural ecological construction; fourthly, intensifying the credit and loan aid to rural special group and regional development; fifthly, intensifying the credit and loan aid to agriculture and rural emergency response system and social security system; sixthly, strengthening the credit and loan aid to agriculture and the intermediary construction of rural financial services.

Financing Sustainable Agriculture Under Climate Change

Agriculture is facing great challenge in meeting global food security and is expected to face even greater challenge under climate change. The overall goal of this paper is to examine how finance can be used to achieve the joint objectives of development, mitigation of and adaptation to climate change in agriculture in developing world based on literature review. The results show that agriculture is much under invested and foreign aid also has not increased appropriately to assist developing countries to maintain sustainable agriculture under climate change. There are a wide range of areas in mitigation of and adaptation to climate change that need substantial investment. Major areas and successful cases mitigation of and adaptation to climate change in agriculture that have worked in developing countries are examined. A list of areas that have worked, could work and be scaled up or transferred is identified and discussed. This study concludes that mainstreaming agricultural mitigation and adaptation into agricultural development programs, enhancing local capacity, and considering different stakeholders＇ needs are major experiences for successfully financing sustainable agriculture under climate change.

Risk Evaluation on Logistics Finance of Agricultural Products Based on Fuzzy-AHP Model

The development of logistics finance business for agricultural products is the best way to realize the common interests of logistics enterprises,small and medium-sized agricultural product enterprises and financial institutions,which will contribute to the development of China's new socialist rural economy and the construction of " two-oriented society". As the agricultural products have some special attributes,it's easy to create the risk in carrying out the logistics finance business. The paper constructs a risk evaluation indicator system for logistics finance of agricultural product,and uses the Fuzzy-AHP model to evaluate. The results show that the comprehensive risk level is normal risk,which shows that third-party logistics enterprises can carry out the logistics financial business of agricultural products,but the risks from logistics enterprises and agricultural collateral need to be prevented.

Risk Assessment of Agricultural Products Supply-Chain Finance Based on D-S Theory

Agricultural products supply-chain finance, as one of the solutions to the issue of “capital problems” of agriculture, countryside and farmers, has proposed a kind of characteristics model to assess the risk of agricultural production, processing and marketing, which can improve the issue of farmers and enterprises lacking of funds. This model is proposed on the basis of uncertain information processing method of D-S theory and its data combination rules, combined with the “discount rate” correction model, and it includes a risk assessment index system of agricultural products supply-chain finance, fully considering the five aspects of production, processing, marketing, cooperation of supply chain and collateral. At last, a taro supply chain is taken for example. And the risk assessment of its supply-chain finance based on this model has been discussed in detail. And the result has proved that the model and its algorithm are practical and feasible.

Discussion on Industry Chain Financing Promoting International Competitiveness of China's Agriculture

Industry chain financing,also known as supply chain financing,is a kind of financial innovation in production and transaction emerging from the 1990 s. Recent years,industry chain financing has gradually permeated in agriculture. As one of the major agricultural countries in the world,China should still make great endeavor in satisfying domestic requirement of agricultural products and improving international competitiveness. Based on the empirical and feasible analysis of agricultural industry chain financing,this article emphasizes on the new mode of industry chain financing and puts forward some related policy suggestions to discuss how to quicken agricultural development with financial support as well as promote international competitiveness of China's agriculture.

Influence of Outflow of Rural Funds on Financial Support for Agriculture

Since the reform and opening-up,rural finance has made enormous contribution to rural economic development.However,with commercialization reform of financial institutions,the conflict between outflow of large funds and shortage of funds for rural economic development becomes prominent,leading to serious degradation of agricultural support function of rural finance.From the perspective of outflow of rural funds,this paper analyzes the problem of"deviation from agriculture"of rural financial business,and derives the conclusion that it is necessary and urgent to restore agricultural support function of rural finance.Then,it discusses restoration path for agricultural support function of rural finance.Finally,it comes up with some effective paths in accordance with existing problems in agricultural support function of rural finance.

Financing Decisions Analysis of E-commerce Supply Chain Finance for Fresh Agricultural Products in China

The supply chain finance(SCF)solutions are becoming increasingly diversified with the continuous perfection of the economic system.However,financing for small and medium sized enterprises(SMEs)is still a difficult issue waiting to be solved by enterprises and the government in China.SCF solutions based on e-commerce platforms have developed rapidly in China that provide an alternative for SMEs when few studies have been conducted on e-commerce SCF solutions which focus on fresh agricultural products.Therefore,this research focuses on the SCF solutions applicable to e-commerce enterprises of fresh agricultural products.

Research on Efficiency of Financial Supports in Agricultural Industrialization in China

The agricultural industry development in China has been very successful, but there exist some problems, such as weak financial support strength. With the help of DEA-Malmquist index method, this paper evaluated the efficiency of the agricultural industrialization＇s financial supports, made a deep study of its influencing factors, which have an extremely important influence on the perfect agricultural industrialization＇s development.

Sustainable Development of New Rural Finance in China

Rural finance is the weakest link in China's financial system. There are still many problems in the traditional rural finance, such as poor business conditions, imperfectly competitive financial markets, and credit information asymmetry; the phenomenon of farmers' loans difficulty has not been fundamentally changed. In order to improve the current situation of rural finance, the state proposes to develop new rural finance and innovate upon rural financial system. The new rural finance has many good development advantages, such as adequate information, flexible operation, and good potential quality of the assets. It is necessary to innovate upon financial products and services, establish the purpose of serving agriculture, countryside and farmers, strengthen the supervision of credit, and improve the financial infrastructure construction, so as to achieve sustainable developments.

Ordering Strategy for Fresh Agricultural Products in External Financing Condition

This paper firstly introduced the two stage supply chain consisting of single agricultural product producer and fund restraint retailer.Then,it analyzed the influence of bank interest rate on order quantity,wholesale price and expected profit of retailer and producer on the condition of retailer taking external loan strategy.Studies have shown that when the bank interest rate is in(0,0.9),the order quantity of agricultural products is a decreasing function of bank interest rate; when the bank interest rate is in(0,1),wholesale price of agricultural products decreases with increase in the bank interest rate; when the bank interest rate is in(0,0.6),the expected profit of retailer is a decreasing function of bank interest rate; when the bank interest rate is in(0,1),the expected profit of producer decreases with increase in the bank interest rate.Finally,through simulation calculation examples,it verified suitability of the conclusion,in the hope of providing reference and application value for management of supply chain.

Overview of Studies on Financial Support for China's Agricultural Industrialization

Agricultural industrialization is an innovative operation mode and effective drive for transformation of traditional agriculture to modern agriculture. Benign development of agricultural industrialization depends on financial support. With increase of the function of financial support for agricultural industrialization development,academic circles have made deeper and deeper researches on agricultural industrialization. These researches mainly touch upon four aspects:( i) definition of concept of financial support for agricultural industrialization;( ii)functions of financial support for agricultural industrialization;( iii) existing problems in financial support for agricultural industrialization and problem causes;( iv) specific recommendations of promotion of financial support for agricultural industrialization development. Although existing researches are already extensive and some common understandings have been reached,there are still some research gaps and weak points,and it needs further researches.

Research on Financial Support for the New Types of Agricultural Management Entities from the Perspective of the Rural Revitalization Strategy

Both the escape from the predicament of traditional financial support in rural areas and the cultivation of new types of agricultural management entities underlie,at a micro level,the improvement of a new-type of agricultural management system,and offer an important guarantee for the implementation of a rural revitalization strategy.In reference to the demands of carrying out reform,activating factors,invigorating entities and stimulating markets during the implementation of this rural revitalization strategy,we are applying a financing preference theory that infers and analyzes the excessive preference for new-type agricultural management entities(family farms,specialized farmer cooperatives,specialized large family farms,and modern agricultural enterprises)regarding government subsidies(quasi-equity financing).Our analysis has identified crucial factors in the issue and predicts that government subsidies(quasi-equity financing)will crowd out financial support funding(quasi-debt financing),and we offer empirical proof obtained through statistical modeling.As our results indicate,financing costs,free cash flows,and the perceived income adequacy(PIA)of new-type agricultural management entities all have significant influence upon decision-making for debt financing by such entities.Therefore,with the concrete contents of the formulation of policies concerning the financial support for rural agricultural strategy,one not only needs to consider the further decrease of financing costs,but also should take into account both the designing of cash flow mechanism in the process of paying both principal and interest,and the improvement of bankruptcy rules for agricultural management entities to accelerate the transformation of family farms,specialized farmer cooperatives,and specialized large family farms,towards modern agricultural enterprises.Meanwhile,upgrades to the supply chains of the agriculture industry,improvements to the construction of the rural financial information system,building an accounting system that meets the requirements of the rural revitalization strategy,and giving full play to the policies for financial support,which assume an important role in activating factors and markets during the implementation of the rural revitalization strategy,are also anticipated.

Research on Interactive Relationship between Agricultural Insurance and Rural Financial Development in Central and Western Regions

By selecting the panel data from 2001 to 2008 in central and western regions,I adopt the methods of covariance analysis test,Hausman test,panel unit root test and co-integration test to conduct empirical research on the interactive relationship between agricultural insurance and rural financial development in central and western regions.The results show that there is a long-term balanced and interactive causal relationship between agricultural insurance and rural financial development in central and western regions.The agricultural insurance in western regions is the cause of rural financial development,while such relationship in central regions is not tenable.There is an interactive promotion relationship between agricultural insurance and rural financial development efficiency in central regions,while the relationship between agricultural insurance and rural financial development efficiency in western regions is mutually inhibitive,but the rural financial efficiency in western regions promotes the development of agricultural insurance.Then corresponding suggestions are put forward in order to give full play to the role of mutual promotion between agricultural insurance and rural financial development as follows:reinforce the support degree for policy finance in central and western regions;increase the inputs of rural financial institutions in serving agriculture,countryside and farmers;expand the types and coverage of policy agricultural insurance.

Study on the Agricultural Financial Development of South Korea

From the perspective of economic history,this paper explored the evolution process of agricultural financial support launched by the South Korean government. Firstly,it introduced the development process of rural financial policies in South Korea. Secondly,it analyzed the inherent logic of the evolution of rural financial policies in South Korea. Finally,it summarized the experience and implications of rural financial development in South Korea for China.

An Alternative Proposal for Financing for the Agricultural Sector (Agricultural SME’s Bonds)

In today’s environment,where SME’s financing continues to be a serious problem,systems that facilitate non-bank financing models different from traditional ones should be considered.In the present article a model of financing based on bonds for SME’s is proposed,very suitable for the agricultural sector or any group with little access to traditional financing.To improve the analysis,a fuzzy logic system is proposed that allows the most representative variables to be properly selected and take into account the uncertainty of the environment and the subjectivity of the analysts.

Research on the Impact of Social Credit Improvement on the Debt Financing of Agricultural Enterprises

This study takes China’s A-shares agricultural companies as the research subjects and examines the influence of social credit environment on the debt financing of agricultural enterprises.This study has found that the improvement of social credit environment can significantly increase the debt financing scale of agricultural enterprises.After a placebo test,the replacement of explained variables,and the control of industry fixed effects,the results obtained are still significant.The mechanism test found that the scale of the enterprise has a complete intermediary effect;that is,the social credit environment can increase the scale of external financing of agricultural enterprises by increasing the scale of the enterprise.This article focuses on the impact of informal institutions on corporate debt financing,which is conducive to enriching relevant research on agricultural enterprises and has important practical significance for promoting the development of the agricultural industrial chain as well as“village revitalization.”

Financial Coordination and Income Distribution of Agricultural Supply Chain

The agriculture field is a fundamental industry which supports the rapid development of the nation?s economy.However,credit constraints faced by farmers have restricted the modernization in the agricultural industry.The agricultural supply chain finance is effective in promoting rural industrial revitalization and agricultural modernization,which is of great significance to the transformation and development of rural economy and agriculture in China.In this paper,the financial coordination model in agricultural supply chain is constructed,and the income distribution model of Shapley value method is introduced.The results showed that the agricultural supply chain finance can significantly improve the income of the participants in the agricultural industrial chain and verify the economic feasibility of agricultural supply chain finance.

绿色金融对农业绿色发展的影响效应及其作用机制研究

“双碳”背景下,农业绿色发展成为国家层面的战略选择。绿色金融作为促进农业绿色、可持续发展的催化剂和加速器,为农业绿色转型升级不断赋能。因此,研究绿色金融对农业绿色发展的影响效应及其作用机制具有重要意义。基于2011—2020年中国省际面板数据,采用熵值法构建绿色金融与农业绿色发展综合指数,进而应用面板数据回归模型检验绿色金融对农业绿色发展的影响效应及其作用机制。结果表明,绿色金融对农业绿色发展具有显著促进作用;绿色科技在绿色金融促进农业绿色发展中起到中介效应;绿色金融对农业绿色发展的影响不仅存在区域和维度异质性,而且具有依赖于环境规制的门槛效应。据此,应从健全绿色金融服务体系、强化科技引领、推动绿色金融差异化发展、灵活制定环境规制政策等方面入手,提升绿色金融推动农业绿色发展的效果。

数字普惠金融发展缓解融资约束研究——基于涉农企业的实证分析

伴随数字经济的蓬勃发展,数字普惠金融为缓解涉农企业融资约束提供了新的可能和路径。将北京大学数字普惠金融2011—2020年市级数据与中国涉农企业数据进行匹配,实证检验数字普惠金融发展对涉农企业融资约束的影响。研究表明:数字普惠金融发展可以显著缓解涉农企业融资约束,该结论在进行多种稳健性检验后依然成立。其中,数字普惠金融覆盖广度的影响效果优于使用深度和数字化程度;数字普惠金融发展能够通过降低融资成本、提高信息透明度等机制缓解涉农企业融资约束;数字普惠金融发展对非国有企业融资约束的缓解作用相对于国有企业更大,对加工服务业企业融资约束的缓解作用相对于养殖种植业企业更大。传统金融发展越好的地区,数字普惠金融发展对企业融资约束的缓解作用更强。总体而言,在缓解涉农企业融资约束异质性方面,数字普惠金融的“逐利性”大于其“普惠性”。文章为乡村振兴背景下解决涉农企业融资难题、助推农业经济发展提供理论参考和实践指引:第一,要继续推进数字普惠金融发展,为涉农企业提供数量众多、业态丰富的新型金融服务;第二,涉农企业要积极进行信息披露,减小与金融机构间的信息不对称程度,拓宽自身融资渠道;第三,要加大对落后地区和经营养殖种植业企业的扶持力度和资源倾斜,发挥数字普惠金融的应有之义。