Shanghai Rural Commercial Bank Launches the country's first "Digital Yi Dai" in the field of smart agriculture

(Source: Economic Daily)

Reprinted from: Economic Daily

Shanghai Rural Commercial Bank recently launched the country’s first “Digital Easy Loan” in the smart agriculture sector, providing 5 million yuan in credit to Jiqing Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Jiqing Technology”). This business uses data assets as a financing collateral, precisely solving the problem of “light assets and difficult financing” for agricultural tech companies. It is also an innovative practice to promote digital finance to empower the real economy.

It is reported that Jiqing Technology, located in Jinshan District, Shanghai, focuses on smart agriculture technology research and system integration. Its self-developed greenhouse environment precise control technology can increase productivity by more than three times compared to traditional greenhouses. However, the current situation of “having technology but lacking assets” makes it difficult for the company to match the funds needed for R&D iterations through traditional financing models. After learning about Jiqing Technology’s financing needs, Jinshan Branch of Shanghai Rural Commercial Bank responded quickly, relying on the company’s core value of smart agriculture data assets and technological R&D, and fully involved in key steps such as rights confirmation, registration, and evaluation to ensure efficient implementation.

This nationwide first “Digital Easy Loan” in the agricultural field is an important achievement under the collaboration of government, banks, and enterprises. It not only verifies the feasibility of the data asset collateral model in modern agriculture but also provides a valuable exploration for extending data element financialization to the entire agricultural industry chain. It further unblocks the value chain of “data turning into assets, assets turning into capital, and capital promoting development,” promoting diversified development of collateral assets.

Additionally, it is understood that in recent years, Shanghai Rural Commercial Bank has closely followed the development of the regional digital economy and actively explored financial service innovations. Following the launch of a dedicated data asset financing service plan in cooperation with the Shanghai Data Exchange in 2024, which provides comprehensive financial services to data element enterprises registered with the exchange, the bank has leveraged its solid experience in serving the “three rural” areas to promote the data asset financing collateral model into modern agriculture, taking the lead in pilot programs.

Next, Shanghai Rural Commercial Bank will take this opportunity to systematically summarize practical experience in data asset collateral in agriculture, deepen cooperation mechanisms with government departments and the data exchange, improve the data collateral risk control system and service processes, and promote the broader and deeper release of data element value. This will help Shanghai’s digital finance and real economy achieve in-depth integration. (Reported by Tang Yilu, Economic Daily)