Analysis on the Experience of Rural Finance from Beihai Bank's Agricultural Loan Business
In the 1940s,Beihai Bank made a series of attempts in developing agricultural loan business.Its agricultural loans were constrained by confidence in the currency and market prices,which led to some consistency between policy and commercial principles.In the process of lending,the bank built its own network to ensure that loans were allocated to vulnerable groups and met price fairness.Through directly participating in production and marketing,the bank managed the loans effectively and ensured that the money went into productive use.The bank also improved the institution of cooperatives to organize mutual aid and group lending,in which democratic decision-making mechanisms could improve loan management and reduce credit risks.These methods brought a lot of achievements in practice,and also facilitated beneficial development of the rural cooperative movement in modern China.The crucial experience of Beihai Bank's agricultural loan business to achieve good results lied in the strong ideological consensus and organizational capability formed by the Communist Party of China under the guidance of Marxism,which indicated that the construction of rural finance should be promoted by ideology and organizing capacity.
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