Credit ratings give farmers access to capital

However, over the past several years, an increasing amount of credit information on farmers has been incorporated into the national credit database and similar platforms, accompanied by the establishment of positive credit ratings.

The rural credit information system in Henan, for instance, has been used for 173 programs in the sectors of poverty relief, rural governance and legal matters.

According to the Zhengzhou central sub-branch of the PBOC, the system started running in March and had taken in more than 13 million farming households as of July - around 80 percent of the farming households in the province.

As the country continues to optimize its rural credit system, the financing environment in rural areas is improving. PBOC figures show that in the first half of 2018, farming household loans rose 87.4 billion yuan over the same period last year.

The expanding credit information available on farmers will help channel more capital into agriculture and help revitalize rural areas, according to Li Quan, an associate professor at Lanzhou University.

By boosting its vast rural regions, China expects to see a strong agricultural sector, beautiful countryside and well-off farmers.

Apart from Jia's 13 melon greenhouses, he has planted additional ground with corn and peanuts.

"If I pay back all the money on time, I will have a higher credit rating, which means a more favorable interest rate," he said.

Xinhua