Maoming has been providing farmers with financial loans to help its rural revitalization efforts. As of the end of August, the balance of agriculture-related loans of financial institutions in Maoming was 78 billion yuan ($11 billion), a year-on-year increase of 9.36 percent.

Shuanghe village in Qianpai town, Xinyi, a county-level city in Maoming. [Photo/Maoming Daily]

The Maoming branch of China Construction Bank issued an agricultural production custody loan of 3 million yuan, marking the first agricultural production custody loan in Guangdong province to land in Huazhou, a county-level city in Maoming.

The Maoming branch of Guangzhou Rural Commercial Bank also decided to provide a loan of 8 million yuan to Huazhou Xingyun Agricultural Service, completing the first loan of 500,000 yuan.

A villager surnamed Chen in Huazhou said that all 8 mu (0.53 hectares) of their family’s farmland is now under trusteeship and that they can earn more than 500 yuan per mu of land without cultivating farmland.

As of the end of July, the loan balance of Maoming's "five trees, one fish, and one table of dishes" model was 4.72 billion yuan, with a total of 2.62 billion yuan having been invested this year.

In addition, the balance of rural housing renovation loans in Maoming was 120 million yuan, and a total of 26.75 million yuan was invested this year as of the end of July.