From this September, Zixing city firstly tried the financing mechanism of crediting loan with land management right. Farmers who are authorized with the certificate of land management right are capable to submit loans from the specified banks. It was purposely to expand the rural financing channel and meet the capital demands for agricultural production and operation.

Long Huaping who is famous for his fish-farming business in Longhu village, Jiaojiang town, Zixing city contracted 2 more pools on the basis of earlier 7 ones in 2014. But due to the severe drought of this July and August, half of the brood fishes got sick and he lost over 80,000yuan. He tried to get some loans from banks, but all failed.

The loss plus the investment for next year, Mr. Long needed over 150,000yuan to keep his business. On seeing a file issued by Chenzhou government that farmers could get the loans from four banks with their land management right certificate, Long Huaping was excited to find more hope and tried it immediately.

Zhang Wei- one of the specialized staffs for overall development of urban and rural areas of Liaojiang town said: “ generally speaking, people should submit the property ownership certificate and some other value possesses to get the loan. But assisted with this policy, people just need to submit land use certificate and land operating license and get the loan under the witness and supervision of local government. This policy is greatly helpful to solve many people’s narrow-neck problems of capitals. ”

After learning all the details of the policy, Long Huaping obtained 200,000yuan from Pudong Development Bank with 200mu fish-farming contract for the management right which was transferred from local villagers.

Though Long suffered great loss this year, he was confident to keep operating his business with these loans. Long built a temporary management house near the water reservoir and was preparing for new year’s business now. On the process of reform, in order to ensure all the new operating entities to be performed regularly, the specified banks would also provide some help for the farmers on supply and marketing of their products. It was purposely to maximize the utilization of rural land management right- a“sleepy asset”.