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The banking and insurance industries will comprehensively promote rural revitalization by focusing on key areas of building a strong agricultural country and strengthening rural financial service capabilities, said the China Banking and Insurance Regulatory Commission recently.

The China Banking and Insurance Regulatory Commission stated that China will prioritize increasing financial investment in the production of grain and important agricultural products, actively serve the new round of action to increase grain production capacity by hundreds of billions of kilograms, explore effective models of financial support for the construction of high standard farmland, and strengthen financial support for key areas such as seed industry, agricultural technology, and agricultural machinery equipment.

China will further promote the work of microcredit for poverty alleviation, actively invest in the revitalization of rural industries, and steadily increase financial support for public services such as rural road transportation, medical care, elderly care, education and training.

At the same time, China will steadily increase investment in agricultural credit, innovate agricultural financial products and service models, expand the coverage of full cost insurance and crop income insurance businesses, develop personal insurance products that meet the needs of farmers, and improve the quality and efficiency of insurance services in the agricultural field.