Xifeng works to improve financial support system

Xifeng county in Guiyang, Southwest China's Guizhou province, has stepped up efforts to improve its financial support system in order to revitalize the countryside. 

Basic financial services are the foundation of the entire financial system. The government will work with financial institutions to arrange their branches in a scientific way and strengthen infrastructure involved in basic financial services. 

To date, there are a total of 163 convenient financial service sites established throughout the county, covering 171 administrative villages in 11 towns and boasting 993,000 transactions worth a total of 1.2 billion yuan ($180 million). 

The financial institutions are also required to upgrade financial products related to agriculture, with special attention to the upgrading of financial applications so as to broaden mobile payment channels. 

"Qiannongyun" is an online financial application developed by the Guizhou Rural Credit Union. Statistics show that so far, more than 17,000 special agricultural orders have been placed on the platform, generating 3.7 million yuan in sales revenue. 

The government also urges financial institutions to redouble support for rural credit loans. They are encouraged to carry out in-depth research on the animal farming and planting industries to learn about rural households' loan needs. 

Loans to boost 12 special agricultural sectors in Xifeng have already reached 256 million yuan.