Modern Agricultural Development Fund will support the development of agricultural industry

Since 2015, Henan Province has implemented the reform of provincial-level financial enterprise-related funds. According to the relevant person in charge of the Provincial Department of Finance, the Modern Agriculture Development Fund organically combines the role of the market with the role of the government in accordance with the principles of “government guidance, social participation, professional management, and market operation”, aiming to give full play to the role of financial funds to make up for the market. Failure, inciting more social capital to participate in corporate investment, and truly achieve the government's goal of supporting the development of the agricultural industry.

Modern Agricultural Development Fund will support the development of agricultural industry

Different from the previous financial subsidies, the provincial financial-related fund-funding reform has changed the way of administrative allocation of funds. Through the market-oriented operation of professional teams, the fund-raising nature has been improved, and the efficiency of the use of financial funds has been improved. The use of fiscal funds is transparent and fair.

It is reported that the Modern Agricultural Development Fund is mainly established by the provincial finance to integrate some of the special funds related to agriculture-related enterprises, cooperate with financial institutions, and attract social capital to participate in the establishment. The pilot scale of the first batch of funds was 420 million yuan, of which the provincial financial fund was 140 million yuan and the Central Plains Bank invested 280 million yuan. The fund is managed by the provincial government's agricultural comprehensive development company and relies on its existing professional management team to operate independently in a market-oriented manner.

According to the requirements, the modern agricultural development fund is supported by the unlisted agricultural industrialization leading enterprises in Henan. Since September last year, the Provincial Department of Finance and the Provincial Animal Husbandry Bureau have publicly collected support projects from the society, and a total of 378 projects have been selected. The final fund plans to invest a total of 402 million yuan for 14 enterprises, accounting for 96% of the total fund size.

The 14 companies including Guorun Animal Husbandry, Xiaguang Hi-Tech and Daxing Food, which participated in the signing ceremony of the Modern Agriculture Development Fund, covered 10 cities in Henan Province.

(Original title: The first batch of modern agricultural development funds have a scale of 420 million yuan. 14 provincial agricultural enterprises have been funded by financial-related funds)