Research On The Impact Of Agriculture Digital Supply Chain Finance On The Financing Of Agricul-tural SMES

The 2022 Central Document No.1 states,"To deal with the century-old changes and the epidemic of the century with ease and promote stable and healthy economic and social development,it is necessary to stabilise the basic plate of agriculture,do a good job in the ’three rural areas’,and successively promote the revitalisation of the countryside in a comprehensive manner to ensure stable and increased agricultural production,steady income growth for farmers and stability and peace in the countryside ".The strategic plan of rural revitalization,with its extensive transformation of agricultural production subjects’ organization form,has caused a shift in the operation mode of agricultural industry and financial needs.Against such a background,this thesis conducts a study on digital technology-enabled agricultural supply chain finance.By utilizing modern digital technology,such as an e-commerce platform as a middleman,the primary businesses in the agricultural supply chain guarantee to agricultural SMEs that they can obtain financing services and that financial institutions will give them the necessary backing.Furthermore,they build an agricultural digital supply chain to ensure the proper financing structure.The financing issues experienced by agricultural SMEs can be effectively addressed,thus fostering the growth of these businesses.the agricultural industry.This thesis will investigate if the digital supply chain finance model for agricultural SMEs can effectively alleviate the financial impediments they face.The emergence of supply chain finance has been a solution to the financing difficulties agricultural SMEs face,which are caused by their own business traits and size.This thesis first defines the concept of agricultural digital supply chain and agricultural SMEs,and outlines the relevant theories affecting enterprise financing.Explaining the current state of agricultural digital supply chain finance in China,a typical model is employed to introduce it,followed by the presentation of three supply chain finance cases.namely Jingdong Finance,New Hope and Postal Savings Bank,to summarise and analyse the three main development models,namely,internet platform-led,core company-led and financial institution-led,then analyse the three models how to affect enterprise financing.The thesis contends that digital supply chain finance in agriculture can effectively reduce financing constraints and enhance financing efficiency of agricultural SMEs by overcoming the obstacle of information asymmetry,thereby reducing the financing costs of agricultural SMEs and augmenting their creditworthiness.This thesis constructs a model for empirical analysis based on cash-cash flow sensitivity theory,selecting micro-firm data of agricultural SMEs listed on the National Small and Medium Share Transfer System,to assess if digital supply chain finance in agriculture can effectively reduce the financing constraints faced by these SMEs.The results demonstrate that China’s agricultural SMEs are confronted with financial impediments,and agricultural supply chain finance can ameliorate these issues.Moreover,the digital transformation of agricultural supply chain finance can enhance it,thereby relieving the financing constraints of agricultural SMEs.This thesis culminates in a summation of both theoretical and empirical research,with pertinent advice from the realms of infrastructure building,the growth of agricultural industry financial market and strength the policy backing.