Guiyang bank fuels agricultural innovation with financial support

Guiyang Rural Commercial Bank was invited to participate in the launch ceremony of the Guizhou (Guiyang) Mountain Intelligent Agricultural Machinery Innovation Development Platform. At the event, the bank promoted policies and financial products related to supporting the agricultural machinery industry to agricultural enterprises, cooperatives, and farmers.

As a financial State-owned enterprise, Guiyang Rural Commercial Bank has pioneered new models to support agriculture in areas such as credit product development, and credit scale allocation, aiding the development of modern agriculture. By the end of April this year, the bank's balance of agricultural support loans reached 23.67 billion yuan ($3.26 billion), with the loan scale continuing to grow.

Guizhou Mountain Intelligent Agricultural Machinery Industry Development Co, the main body responsible for the construction and operation of the Guizhou (Guiyang) Mountain Intelligent Agricultural Machinery Innovation Development Platform, has also received support from the bank.

Established in 2017, the company is a State-owned enterprise under Guiyang Agricultural Investment Group, primarily engaged in research and development, sales, and socialized services related to agricultural machinery. It is dedicated to promoting the development of the mountain intelligent agricultural machinery industry in Guizhou province.

In 2020, due to the relatively slow settlement of project funds, the company faced a liquidity gap of 130 million yuan, creating difficulties for it. At that time, the bank tailored a service plan for handling bank acceptance bills for the enterprise, granting a credit line of 70 million yuan. As of May 24 this year, the bank has cumulatively handled 129 million yuan in bank acceptance bills for the company, effectively solving its liquidity shortage.

After receiving support from the bank for more than 2 years, the operational capacity of the Provincial Intelligent Agricultural Machinery Company has been further optimized and enhanced. The company's output value increased from 1.23 billion yuan in 2018 to 2.2 billion yuan in 2023.