| The key part of building a well-off society lies in rural areas. Insufficient capital investment is an important factor which restricts the new socialist countryside construction. In recent years, in order to settle the problem of "Three Rural Issues", the finance is put on the stage and most preferential agriculture policies are of financial policies. But a large number of rural funds are flowing out and contradiction between supply and demand of agriculture and rural credit is rather outstanding, because mobilization through financial channel to collect rural development funds is inadequate. Agricultural policy-oriented finance is an important part of the entire rural financial service system and plays an irreplaceable role. In order to construct the rural financial service system of "perfect function, reasonable labor division, clear property rights and effective supervision", the resultant forces combining commercial finance, rural cooperative finance and policy-oriented finance must be fully exerted. However, policy-oriented finance function of supporting agriculture is not fully exploited because of the problems in function positioning, service means, management system etc. Therefore, it has become an urgent issue and of great theoretical and practical significance how to deepen the reform of agricultural policy-oriented finance, improve the functions, perfect the mechanism and support agricultural and rural economic development.This thesis makes a more comprehensive study on the problem of agricultural policy-oriented finance, on the basis of existing research results, summing up and learning from foreign experience and using empirical analysis, normative analysis, comparative analysis, game analysis etc. The main framework and contents of this thesis are: First, to represent the basic issues such as related theory of agricultural policy-oriented finance, concept definition, the state of domestic and foreign research etc.; Second, to study the current problems of agricultural policy-oriented finance and analyze the reasons, on the basis of review on historical change of China's agricultural policy-oriented finance; Third, study agricultural policy-oriented finance systems all over the world and their operating state, to be the reference for further development of China's agricultural policy-oriented finance reform; Fourth, to further deepen the knowledge of agricultural policy-oriented finance, put forward the general principles and objective mode as well as the complementary measures for China's agricultural policy-oriented finance reform.The main viewpoints and conclusion are as follows:1. This thesis considers that, agricultural policy-oriented finance is a kind of special financial activity, taking the main task of implementing the national industrial policy-oriented and regional policy-oriented and owning the unique features of supporting, controlling, sparkpluging and counseling. Agricultural policy-oriented finance has a profound theoretical and practical basis and is a necessary complement to market economy. The function of agricultural policy-oriented finance will exist for a long time, because agricultural inherent weakness and market economy inherent flaw will not disappear in foreseeable period.2. There are many problems with China's agricultural policy-oriented finance and its function of supporting agriculture is influenced: (1)The function positioning of agricultural policy-oriented finance is unclear, the distinction between policy-oriented and commerce-based finance is unclear and the resultant forces of agricultural policy-oriented finance, commercial finance and cooperative finance have not been formed. (2) Agricultural policy-oriented finance system is absent and the scope of agricultural issuingtransaction is limited. At the same time, the sparkpluging and counseling functions of agricultural policy-oriented finance are. not applied. (3) Financing mechanism is distempered and interest compensation mechanism is imperfect. (4) The operating mechanism is imperfect and the internal management level and financial service capacity need to be improved; agencies layout is not quite reasonable and personnel quality is lower. The reasons of the above problems mainly are that, there is inherent contradiction of agricultural policy-oriented finance because of its special feature; the awareness of agricultural policy-oriented finance is not in place and government support is not strong enough; legal and regulation protection is lacked; effective monitoring, evaluation and coordination systems are not formed; and that policy-oriented factors affect asset quality. 3. Comparing with the management mode, ownership form, organization form, institutional characteristics, fund sources and operation, functional application and external environment of foreign agricultural policy-oriented finance mechanism and combing with the current state of China's agricultural policy-oriented finance, this thesis considered that at least the following five points deserve to be learned by us: (1) Agricultural policy-oriented finance exists in both developing countries and developed countries. China should reinforce policy-oriented finance function of supporting agriculture as a developing country. (2) Policy-oriented protection function should be in prudent use to prevent the dependence because of over-protection. (3) Development is of overriding importance. Policy-oriented-base bank, as a bank, is also required to develop constantly so as to exert the finance function of supporting agriculture stably in a long term. (4) We must improve the complementary measures of China's agricultural policy-oriented finance. (5) We should reform the internal management system and improve operating structure of agricultural policy-oriented bank according to the requirements of modern banks.4. In the view of existing problems and requirements of new situation, China's agricultural policy-oriented finance should be one of the basic platforms to guide the allocation of agricultural and rural resources under the condition of market economy. It should play the backbone and pillar role in agricultural finance and support agriculture all-round. Therefore, we should deepen China's agricultural policy-oriented finance reform according to the principles of coordinated development among financial, policy-oriented and commercial finance, the principles of dynamic adjustment of business and regional differences and the principles of implementing all-round functions.5. This thesis put forward the following ideas and viewpoints to solve the problems: (1) We should clarify the policy-oriented and commercial finance business, instead of dividing the financial business simply into two parts: policy-oriented business and commercial business. We should divide the financial business into at least four levels: strong policy-oriented business, weak policy-oriented business, prospective policy-oriented business and commercial business. The state should clarify the nature and level of finance business aperiodically according to different demands of different periods and make out different management, supervision, compensation and preferential methods. (2) The goals and means of agricultural policy-oriented finance belong to different levels. Commercial operation is just a means, not the essential difference between policy-oriented bank and commercial bank. The nature of policy-oriented bank should be manifested mainly in the industrial orientation of loan and function implementation, not in operation mode of loan. (3) We should further construct agricultural policy-oriented finance system and allow appropriate competition among the main bodies of agricultural policy-oriented finance business. We should enlarge the business scope of agricultural issuingtransaction and allow it to run all agricultural financial business (including policy-oriented business), but not necessarily. The state should make a mandatory regulation on the proportion of policy-oriented business. (4) We should distinguish the agricultural policy-oriented finance business with different nature, types and areas, deepen the cooperative mechanism of financial, policy-oriented and commercial finance, innovate the operation mode of agricultural policy-oriented finance business, attach the importance to the bottleneck areas of new rural construction such as the purchase, sale and reservation business of grain, cotton, oil, fertilizer and sugar, middle and long term construction projects, small agricultural enterprise projects etc and strengthen the financial support to weak parts.(5) We should accelerate the internal comprehensive reform, improve the management level and financial service capacity and build modern agricultural policy-oriented banks, according to the requirements of modern banks.(6)We should improve the complementary measures of agricultural policy-oriented finance including establishing a long-term and stable financing and compensation mechanism, strengthen the legal status and security of agricultural policy-oriented finance, exploit a new supervision mode and optimize the financial ecological environment.
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