Study On The Mechanism And Effect Of Co-Enrichment Of Supply Chain Financial Credit In Farmers’ Cooperatives

The 20 th Party Congress pointed out that efforts should be made to promote the common prosperity of all the people,and the key points and difficulties in implementing common prosperity are all in the rural areas.General Secretary Xi Jinping made an important speech emphasizing that without the revitalization of the countryside and the prosperity of farmers,there will be no common prosperity for all people in China.Promoting the common prosperity of farmers and rural areas is the key task to promote the common prosperity of all people in China.At present,China’s rural areas are in a period of effective connection between poverty eradication and rural revitalization,and rural development still faces real problems such as low industrial level,large regional disparity,and large gap between rich and poor within farmers,which seriously affects the process of realizing common prosperity for all people in China.2023 Central Document No.1 clearly proposes: the need to further strengthen the financial support and innovation level of agricultural supply chain,so as to To improve the income level and quality of life of farmers,thus promoting the development of rural economy and realizing common prosperity.With the continuous growth of new agricultural business entities in China,it provides a favorable basis for actively carrying out agricultural supply chain finance credit,and accelerating the development of agricultural supply chain finance gradually becomes an important way to explore the realization of integrated development of agricultural industry and solidly promote the common prosperity of farmers and rural areas,especially to crack the credit financing constraint and help revitalize the industry,and create favorable conditions for improving the equalization of financial credit opportunities.Looking at the experience of rural development at home and abroad,agricultural supply chain finance,as an innovative model of inclusive finance,may become a remedy to crack the development problems of rural areas and help rural farmers achieve common prosperity.Based on theoretical analysis,this paper empirically examines the effect and mechanism of supply chain financial credit for farmers’ cooperatives in three provinces and one city in central and western China,using relevant research data.The research results show that:(1)the supply chain financial credit of farmers’ cooperatives can significantly improve the degree of common prosperity of farmers,and there is a certain heterogeneity in the effect of farmers’ cooperatives led by different regions and different subjects,which makes a certain difference in the degree of common prosperity of farmers.(2)For farmers of different income types,the effect of supply chain financial credit of farmers’ cooperatives in promoting farmers’ common prosperity shows an "inverted U-shaped" curve,i.e.,the degree of common prosperity of farmers will show a trend of rising and then declining as the role of cooperatives in linking farmers and leading farmers increases.(3)The supply chain finance credit of farmers’ cooperatives can ensure the fairness of credit rationing opportunities to realize farmers’ common prosperity by alleviating farmers’ credit constraints,strengthening the linkage between farmers’ interests and cooperatives,and enhancing the soft credit constraint mechanism of cooperatives’ linkage with farmers.In this regard,encouraging small farmers to participate in the supply chain financing of farmers’ cooperatives,building the competitiveness of the supply chain of agricultural industry chain and strengthening the mechanism of "linkage of interests +shared distribution" of village and community collectives are important paths to help farmers achieve common prosperity in rural areas.Finally,this paper draws policy inspirations for the promotion of supply chain financial credit for farmers’ cooperatives.First,increase the promotion of farmers’ cooperative supply chain financial credit and guide farmers to actively participate in it;second,establish a financial service system for the whole agricultural industry chain and strengthen policy support;third,build a cooperative mechanism for agricultural supply chain financial services with farmers’ cooperatives as the carrier and strengthen the competitiveness of the agricultural industry chain supply chain;fourth,strengthen the collective "benefit linkage + shared distribution" mechanism of village and community and promote the construction of the mechanism for new agricultural business entities such as farmers’ cooperatives to help and lead farmers;fifth,strengthen the use of financial technology to accelerate the promotion of farmers’ cooperative supply chain financial credit.Fourth,strengthen the mechanism of "benefit linkage + shared distribution" for village community collectives,and promote the construction of mechanism for new agricultural business entities,such as farmers’ cooperatives,to help farmers and link farmers with farmers;Fifth,strengthen the orientation of financial technology use,and accelerate the digital transformation of supply chain finance for farmers’ cooperatives.