Research On Agricultural Credit Demand And Supply In The Perspective Of Modern Agriculture

At present, China’s agriculture is in the crucial period of accelerating transition from traditional agriculture to modern agriculture. During this period, agriculture has gained remarkable achievements; grain production increased for the eleventh consecutive year and farmers’ income increased steadily. At the same time, many new types of management entities such as large specialized households of planting and raising, family farms, farmers’ professional co-operatives and agricultural enterprises emerged constantly. Compared with traditional agriculture, the modern agriculture has the characteristics of high technology density, high capital density and large-scale production. However, capital shortage has become main factors restricting the development of modern agriculture. Problems such as difficult to get loans, too high interest and too short loan period have not been complete solved. Therefore, it is urgent and significant to strengthen the financial credit support for modern agriculture.Based on the agricultural development theory and related financial theory, this research took agricultural credit funds as the research object, aiming at promoting the function of agricultural credit on modern agriculture, analyzing the status, problems and influencing factors of credit demand of new type of agricultural operators and credit supply of the financial institutions, new mode of agricultural credit and folk informal borrowing. This paper is divided into eight chapters: in the first chapter, the aim of this study, significance and technical route is introduced and the existing related research results are summarized; In the second chapter, related theoretical basis and logical analysis framework is briefly analyzed; The third chapter, the promoting impacts of agricultural credit on modern agriculture development are analyzed from aspects of development course and the empirical analysis; In the fourth chapter, present situation, problems and influence factors of agricultural credit demands are analyzed in the perspective of new types of management entities; In the fifth chapter, agricultural credit supply situation, problems and influence factors of agricultural credit supplies are analyzed in the perspective of financial institutions; The sixth chapter, several kinds of agricultural credit innovation mode, such as farmland financing, financial capital, the value chain financing and mobile finance are introduced based on the agricultural credit gap; In chapter seventh, the support scale of folk informal lending to agricultural industry development is estimated; In the last chapter, the research conclusions and policy suggestions are summarized.The main conclusions of this study were: 1. Agricultural development and agricultural credit have their own laws of development; Credit is playing an important role in promoting agricultural development; 2.The gap between the loan of the financial institutions and the demand of the new type of agricultural entities is huge, and poor production conditions of agricultural entities, national loan policy and lack of collaterals are the main reason for their failure in getting loans; 3.The supply of agricultural lending by the financial institutions is seriously insufficient and uneven. Deposit amount, loan interest rate, and the profits of financial institutions become significant influencing factors; 4. Different modes of agricultural credit innovation has different feature and feasibity, and should be distinguished when they are applied; 5. Informal lending supporting agricultural production and operation is an important source of funding, but the contribution of agricultural lending unit capital is declining and worth to pay close attention.Based on the analysis above, this paper puts forward the corresponding policy recommendations: 1. Emphasize the significant influence of agricultural credit on agricultural development, and intensify agricultural credit and credit system construction; 2. Strengthen the role of government in the credit service system, and set up comprehensive agricultural credit service model from central to local; 3. Adjust the direction of agricultural credit support, tilting to the agricultural infrastructure, the development of small and medium-sized enterprises; 4. Update the credit mode and means, and speed up the entering of the modes of agricultural credit funds of the financing, financial leverage, value chain financing, mobile financial and other patterns into agriculture; 5. Fully recognize the importance of the agricultural industry informal lending, and apply the combination method of guidance and improvement policy.The innovation points of this research are: 1. In the perspective of new types of management entities of modern agricultural development, analyzes their present situation and existing problems of agricultural credit demand; 2. Uses Heckman two-phase analysis method to analyze the influence factors of new types of management entities’ credit demand, solves the problem of deviation in the survey samples, and analyzes the problems of credit demand by combining the two questions: "whether to get a loan " and "how much". 3.Analyzes the influencing factors of credit supply based on the financial institution’s own feature, evaluates the innovated credit modes, and estimates the size of the informal lending support agricultural industry development.