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Original title: 560,000 poor households in Guangxi enjoy microcredit for poverty alleviation
On April 30, a press conference was held on Guangxi Finance’s efforts to help alleviate poverty in Nanning. Huang Yanmei photo
China New Network, Nanning, April 30 (Reporter Huang Yanmei) Yang Hongbo, deputy secretary and deputy director of the Party Group of the Poverty Alleviation Office of the Guangxi Zhuang Autonomous Region, introduced on the 30th Guangxi fully released the dividend of the microcredit policy for poverty alleviation and activated the endogenous impetus for the development of poor households. By the end of 2019, Guangxi had issued a total of 25.412 billion yuan of microcredit to alleviate poverty to 563,000 impoverished households (RMB, the same below), with a loan rate of 52% for poor households. For the full year of 2019, Guangxi past due loans were 16,839 million yuan, and the total number of past due loans ranked second in the country.
The Guangxi government held a press conference on the work of Guangxi Finance to help alleviate poverty. Yang Hongbo introduced at the meeting that since the poverty eradication of the “13th Five-Year Plan”, Guangxi has incorporated financial poverty alleviation work into the overall plan for poverty alleviation. Simultaneously, financial departments at all levels have taken the initiative to work together and strive to innovate financial poverty alleviation policies, products and services. Preferential financial products are invested in impoverished areas and poor people, injecting strong momentum and effectively promoting financial poverty alleviation and poverty alleviation.
At the end of the first quarter of this year, Guangxi has allocated 44.3 billion yuan in loans to support agriculture, poverty alleviation and small-scale support, and 324.457 million yuan in financial precision loans to alleviate poverty. At the end of March, the balance of financial loans to alleviate poverty was 183.939 billion yuan, a year-on-year increase of 13.91%. Guangxi has established around 8.81 million farmer credit files, including poor farmers, with 5.91 million accredited farmers, 7,911 credit villages and 660 credit municipalities (cities), with a total of 59.47%, 55.98% and 58.77%. The “tight fit” between financial institutions and poverty alleviation goals has been achieved.
Yang Hongbo said Guangxi’s poverty alleviation microfinance business was booming, with 32.33 million loans to poor households of 13.733 million yuan for development and production; 241,100 poor household loans of 11.679 billion yuan formed a narrow interest bonding mechanism with companies, and received a cumulative dividend of 2.584 billion yuan. Yuan Guangxi has worked hard on policy making and made practical moves on recycling and the elimination. The cumulative disposition of loans was 18.8 billion yuan, with a disposition rate of 99.89%; cumulative cash recovery was 16.42 billion yuan; the loan delinquency rate was 0.32%. The State Council Poverty Alleviation Office highly affirmed the recovery and elimination of microcredit to alleviate poverty in Guangxi and promoted Guangxi’s experience and practices across the country.
“This year, Guangxi is striving to achieve a new poverty alleviation microcredit of not less than 6 billion yuan, and striving to complete 10 billion yuan,” said Yang Hongbo.
Industrial poverty alleviation is the fundamental strategy for achieving poverty alleviation. Su Yang, deputy governor of the Nanning Center Sub-branch of the People’s Bank of China, said that in recent years, the Bank of China Nanning Center sub-branch has supported industrial poverty alleviation as a point of a starting point and an important starting point for financial assistance to overcome poverty, and make good use of the Bank of China People’s Poverty Alleviation Loan Policy Tools to guide financial institutions to innovate and launch a variety of “more financial” models of poverty alleviation in the industry to ensure that the financial industries of drip irrigation and poverty alleviation. At the end of March this year, the balance of Guangxi industrial poverty alleviation loans reached 55.8 billion yuan, an increase of 73.81% year-on-year.
Guangxi is one of the main battlefields for China to overcome poverty. The poverty-stricken population of the Lika archives in Guangxi fell from 4.52 million in late 2015 to 240,000 in late 2019. The incidence of poverty decreased from 10.5% to 0.6%. 5879 yuan, production and living conditions improved significantly.
Guangxi, combined with reality, bold and innovative, financial poverty alleviation work has achieved remarkable results, established a big data management platform for financial poverty alleviation and formed a famous “Tiandong model” of relief from financial poverty at the national level. (The end)
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