National Financial Regulatory Administration: Strictly prohibit the illegal addition of local government implicit debt under the guise of agricultural finance

The Office of the National Financial Regulatory Administration April 8, 2026, issued the “Notice on Doing a Good Job in Financial Support for Rural Revitalization in 2026.” The “Notice” points out that efforts should be made to optimize the rural financial service environment, promote the construction of rural credit systems, strengthen the collection and sharing of agricultural-related information, fully leverage the role of modern agricultural comprehensive service centers, deepen the integration of rural finance and rural governance. Continue to strengthen the monitoring of agricultural-related credit risks, effectively prevent agricultural loans from being used in non-agricultural sectors. It is strictly forbidden to illegally add new local government implicit debt under the guise of agricultural finance. Prohibit collusion with illegal intermediaries, fraudulently obtaining loans, insurance claims, and other behaviors. Banking institutions should strengthen daily supervision and management of rural inclusive financial service points, effectively prevent illegal fundraising and other illegal financial activities.

Full text as follows:

Notice from the General Office of the National Financial Regulatory Administration on Doing a Good Job in Financial Support for Rural Revitalization in 2026

To all financial regulatory bureaus, policy banks, large banks, joint-stock banks, all insurance groups (holding) companies, and insurance companies:

In 2026, the banking and insurance industries should earnestly implement the relevant deployments of the “Opinions of the Central Committee of the Communist Party of China and the State Council on Anchoring Agricultural and Rural Modernization and Solidly Promoting Rural Revitalization,” adhere to the priority development of agriculture and rural areas and the integration of urban and rural areas, deeply learn from and apply the “Ten Thousand Project” experience, continuously improve the rural financial service system, solidly carry out normalized financial precise assistance, improve the quality and efficiency of rural financial services, and provide strong support for promoting rural revitalization and achieving agricultural and rural modernization.

I. Continuously strengthen financial supply in key areas

(1) Fully guarantee the enhancement of comprehensive agricultural production capacity and quality efficiency. Focus on stabilizing grain and oil production, effectively support the implementation of the new round of hundred-billion-jin grain capacity improvement actions and grain circulation quality and efficiency projects. Focus on improving the “vegetable basket” industry, assist in consolidating results in pig production capacity regulation, beef and dairy cattle industry relief, stable vegetable production, deep-sea aquaculture and fishing, forest food, and other diversified food supply systems. Focus on agricultural technological innovation, support the transformation and application of core agricultural scientific and technological achievements, deepen the implementation of seed industry revitalization actions, R&D and application of agricultural machinery equipment, and develop new agricultural productivity suited to local conditions. Actively and prudently explore effective models of financial support for arable land protection and quality improvement, and the construction of agricultural disaster prevention and mitigation systems. Provide financial services for agricultural enterprises “going global,” and support the expansion of exports of advantageous specialty agricultural products.

(2) Actively assist in cultivating and expanding county-level rural industries for wealth. Persist in integrating investment in tangible assets and human resources, help develop distinctive county economies, cultivate characteristic industrial clusters of small and medium-sized enterprises, and support stable employment for migrant workers. Increase financial investment in green and efficient planting and breeding, deep processing of agricultural products, high-quality development projects of rural e-commerce, integration of agriculture, culture, and tourism, forestry and grassland industries, etc., to drive farmers’ income and prosperity. Strive to meet the financial needs of rural consumption expansion and upgrading, foster new business formats, new models, and new scenarios for rural consumption, and support new energy vehicles, smart home appliances, green building materials going to the countryside. Provide financial support for new employment groups such as urban migrants in housing, education, medical care, vocational training, employment, and entrepreneurship.

(3) Effectively support rural construction and urban-rural integration development. Increase support for rural revitalization zone construction, encourage bank institutions to introduce special credit preferential policies. Steadily strengthen financial support for infrastructure projects such as small-scale water diversion, power grid renovation, charging facilities coverage, road reconstruction, logistics and communication, and rural living environment improvement and management. Explore effective ways for financial support of urban-rural integration and new urbanization with counties as important carriers, promote the integration of infrastructure and basic public service supply in urban and rural areas.

II. Solidly implement normalized precise assistance

(4) Improve the normalized financial assistance mechanism. Focus on preventing the return to poverty and underdeveloped areas, further consolidate and enhance the strength, precision, and effectiveness of financial assistance, and help guard against large-scale poverty recurrence. Carefully carry out small loan support for poverty alleviation, precisely support poverty-stricken households in developing production and increasing income, strengthen post-loan management, and resolutely prevent violations such as “household loans used for enterprise purposes.” Actively develop characteristic advantageous industry loans, explore the creation of insurance products for assistance industry projects, and strengthen financial services across the entire chain for assistance industries.

(5) Tilt support to underdeveloped areas. Increase support for major infrastructure construction in underdeveloped regions, effectively meet construction funding needs, and continue to improve infrastructure and rural living environments. Strengthen credit support and insurance guarantees, promote the development of characteristic industries in underdeveloped areas. Solidly carry out follow-up financial support after relocation. Provide policy tilt in resource allocation and performance evaluation for key counties (including national and provincial-level) for rural revitalization. Policy banks and large and medium-sized commercial banks should strive to achieve continuous growth in the loan balances of key counties for rural revitalization.

(6) Improve financial services for special groups. Earnestly implement policies for veteran entrepreneurship loans, refine work measures, and strive to meet the financial needs of veteran entrepreneurship and innovation. Deepen the work of national student loans, ensure that university students from families with economic difficulties receive all necessary support. Continuously optimize credit products and service models, actively support disabled persons, women, and other eligible groups in production and operation. Develop more inclusive insurance products suitable for the elderly, disabled, women, and other groups. Promote accessible and age-friendly facilities at service outlets based on actual conditions, improving the accessibility of financial services for the elderly and disabled.

III. Continually enhance rural financial service capacity

(7) Improve the system of rural financial service institutions focusing on core business, dislocation competition, and division of labor and cooperation. Large and medium-sized banks should focus on supporting the construction of a modern agricultural industrial system, actively develop agricultural supply chain finance, and expand first-time borrower services. Rural small and medium-sized banks should deepen reforms to enhance their support for agriculture and small enterprises. Strengthen refined management, reasonably determine internal tilt policies for inclusive agricultural loans under sustainable conditions. Large banks and insurance institutions should establish and practice correct performance views, lead in maintaining county-level financial order, and resolutely prevent and correct over-indebtedness and “price wars” among agricultural clients. Under the premise of ensuring basic coverage of grassroots financial services, support banks and insurance institutions in reducing and upgrading county and township outlets.

(8) Optimize agricultural credit products and services. Provide more tailored credit products based on the characteristics of “three rural” areas, increase the issuance of medium- and long-term loans. Further refine the standards for no-repayment renewal processes, lawfully and compliantly increase support for extension and renewal of loans to agricultural enterprises and farmers, develop models such as credit loans, group loans, park loans, and mortgage loans on operational rights. Actively promote explicit comprehensive financing costs for personal loans. Further enrich rural financing credit enhancement methods. Increase financial support for small and medium-sized farms and households. Use “three rural” special bonds issued by financial institutions in related fields.

(9) Enrich agricultural insurance products and services. Strengthen insurance coverage for rice, wheat, corn, soybeans, and other crops, develop local characteristic agricultural product insurance suited to local conditions, promote property insurance such as rural housing, agricultural machinery, and farmland insurance. For rural populations and migrant workers, focus on developing personal insurance products such as accident injury, health, and term life insurance. Leverage the role of agricultural insurance in disaster prevention and mitigation, help reduce production risks. Strengthen mutual empowerment between banking and insurance institutions, support compliant sharing of agricultural insurance policies and related information, improve service quality and efficiency. Encourage county-level rural small and medium banks and other banking institutions to standardize the agency sale of insurance products.

IV. Focus on optimizing the rural financial environment

(10) Promote digital transformation of rural finance. Promote the construction of rural credit systems, strengthen the collection and sharing of agricultural-related information, include land rights confirmation, agricultural subsidies, business transaction records, tax records, and other key data within the scope of sharing, support bank and insurance institutions to connect. Fully leverage technology in “bank-insurance supporting agriculture” connection, credit approval, risk pricing and management, insurance claims, and other aspects, strengthen data security management, empower rural credit system construction, and promote efficient and safe allocation of financial resources to agricultural entities. Support banks in utilizing financial data and enterprise credit information, explore the use of privacy computing, big data, machine learning, and other advanced technologies to assist in precise customer risk assessment, and enhance risk prevention capabilities through technology. Actively participate in high-quality digital rural development initiatives.

(11) Optimize the development environment for agricultural finance. Strengthen coordination and linkage with government departments and grassroots rural organizations, fully utilize the role of modern agricultural comprehensive service centers, deepen the integration of rural finance and rural governance. Continue to deepen credit registration and rating work for farmers and new agricultural business entities. Promote the advantages of government financing guarantee institutions in information, channels, and credit enhancement. Actively summarize and publicize typical experiences and practices in “three rural” finance, strengthen international experience exchanges. Enhance financial knowledge publicity, improve rural residents’ awareness of illegal fundraising and financial scams. Cooperate with relevant departments to crack down on various illegal financial activities in rural areas.

(12) Effectively prevent “three rural” financial risks. Continue to strengthen the monitoring of agricultural-related credit risks, guide banks to closely monitor changes in credit asset quality, conduct “three checks” on loans, effectively prevent agricultural loans from being used illegally to repay local government financing platform debts or flow into non-agricultural sectors, improve risk classification, and increase provisioning and expected credit loss provisions. Accelerate the disposal of non-performing agricultural assets, make full use of pilot policies for transferring personal non-performing loans, and promote the establishment of a quick write-off mechanism for small non-performing loans. Banking and insurance institutions should continuously strengthen monitoring and early warning, strictly prohibit illegal addition of local government implicit debt under the guise of agricultural finance. Strengthen management of agricultural credit insurance behaviors, regulate cooperation with third-party agencies, and prohibit collusion with illegal intermediaries, fraudulently obtaining loans and insurance. Banking institutions should implement主体责任, strengthen daily supervision and management of rural inclusive financial service points, ensure the security of core business data, strictly prevent overreach in financial activities, and effectively prevent illegal fundraising and other illegal financial activities.

V. Coordinate and strengthen regulatory guidance

(13) Steadily increase investment in agricultural finance. Agricultural Development Bank, large and medium-sized commercial banks should continue to set apart dedicated agricultural credit plans, strive to achieve continuous growth in the balance of agricultural loans under the same accounting standards, increase credit investment in key grain areas, and promote stable investment, quality improvement, structural optimization, and sustainability of agricultural credit. Large and medium-sized commercial banks should pay attention to regional balance, coordinate credit plans for the east, central, and western regions, and strive for continued growth in inclusive agricultural loans. All financial regulatory bureaus should study the economic development situation within their jurisdictions, combine with the operation and risk conditions of local legal banks, and set targeted differentiated growth targets for agricultural loans and inclusive agricultural loans, aiming for overall growth within their jurisdictions. Strengthen daily guidance and training for branch offices, and guide them to focus on key tasks of inclusive finance.

(14) Carefully carry out statistical monitoring. All financial regulatory bureaus, 21 large and medium-sized banking institutions, and major agricultural insurance institutions should report plans and completion status timely, accurately, and completely according to the appendix requirements. They should submit semi-annual and annual work reports to the Office of Inclusive Finance of the Financial Regulatory Administration before the end of the first month after each half-year. Regular monitoring should be conducted, timely reminders issued, and banks urged to complete various task goals. Continue to verify agricultural credit data through spot checks. Financial and insurance institutions should improve internal data quality management mechanisms, strictly prohibit falsification of agricultural credit and insurance data. Insurance institutions should carefully complete the reporting of new inclusive insurance data, improve timeliness and accuracy.

(15) Fully leverage fiscal and financial policy synergy. Banks should make full use of re-lending policies for supporting agriculture, supporting small and micro enterprises, technological innovation, and technological transformation. Implement interest subsidy policies for incremental loans to rural private small and medium-sized enterprises, equipment renewal loans, personal consumption loans, and participate actively in grain and oil planting special loan interest subsidy pilots. Fully utilize local government risk compensation, tax incentives, subsidies, and rewards. Strengthen the authenticity and accuracy review of related materials for preferential policies, prevent false reporting, misappropriation, and fund embezzlement, and effectively play the role of fiscal and financial collaboration in supporting agriculture.

Office of the National Financial Regulatory Administration

April 2, 2026