Bank staff members learn about the cattle industry in Liaoyuan's Dongfeng county, Jilin province. [Photo provided to gojilin.gov.cn]
The Dongfeng sub-branch of the Postal Savings Bank has launched new financial products to facilitate rural industrial development in Liaoyuan, Northeast China's Jilin province by offering special guarantee loans, according to local media reports.
Hu Chang'an, who lives in Dayang town, Dongfeng county, is a cattle breeder who was unable to expand the scale of breeding due to financial constraints.
After learning about the bank's loan policy in 2021, Hu applied for a credit loan of 100,000 yuan ($15,700) from the bank, and now the number of cattle he raises has increased from 10 to 20.
Bank staff members visit a local company in Liaoyuan, Jilin province. [Photo provided to gojilin.gov.cn]
In order to further improve work efficiency, the bank's Liaoyuan branch has conducted several business communications with the Liaoyuan Real Estate Registration Center to discuss specific plans for innovating the financial service model of real estate mortgage registration since the beginning of this year.
The "one-hall service, one-window acceptance" of bank real estate loan mortgage registration is one of the measures jointly launched by the bank's Liaoyuan branch and the real estate registration center to improve the customer experience, and shorten the processing time needed for handling mortgage business.
One of these enterprises that has benefited from the service is Jilin Xinyuan Rice Industry Co that primarily deals with acquisitions, processing and sales with an annual output value of 130 million yuan.
Beginning in 2017, the Liaoyuan branch of the Postal Savings Bank has been providing the company with a loan of 14.7 million yuan each year, and used land and factory buildings as collateral to help the company continue to develop.
As a provincial-level leading enterprise, the company has helped more than 600 neighboring farmers increase their incomes by a total of 1.45 million yuan.