Core Insights - The article highlights the significant role of the Xinjiang Kashi region in the production and sales of new plums, with the area becoming the largest base for this fruit in China, contributing to rural revitalization and farmer income growth [1][2]. Financial Support and Impact - The People's Bank of China has initiated financial support for the new plum industry, with a focus on increasing production and income through targeted financial products [2][3]. - Since 2022, a total of 28.9 billion yuan has been allocated in agricultural loans to Kashi County, facilitating low-interest loans of 36.38 billion yuan and benefiting nearly 57,000 market entities, resulting in an average annual income increase of 19,000 yuan per person in the new plum industry [2][3]. Innovative Financial Products - Financial institutions have introduced innovative loan products like "New Plum Loan," which offers high credit limits, low interest rates, and flexible terms to address the financing challenges faced by the new plum industry [3][4]. - As of August, over 17,000 "New Plum Loans" have been issued, amounting to 1.31 billion yuan, covering all 310 administrative villages in Kashi County [3][4]. Comprehensive Industry Support - The "New Plum Loan+" initiative has expanded its services to cover the entire industry chain, from planting to sales, enhancing the financial support for farmers and businesses involved in the new plum sector [4][5]. - The program has provided 8.35 billion yuan in loans to support the large-scale planting of over 240,000 acres of new plums [4][5]. Enhancing Value and Efficiency - The financial support has also targeted logistics and processing challenges, with loans issued for cold storage construction and transportation, facilitating the sale of 46,300 tons of new plums [5][6]. - The introduction of various collateral options for loans has enabled nearly 400 processing enterprises and cooperatives to secure funding for equipment upgrades and operational stability [6]. Conclusion - The financial backing has transformed the new plum industry in Kashi from extensive farming to standardized and large-scale production, significantly increasing the added value and contributing to rural prosperity [6].

Core Insights - The article highlights the significant role of the Xinjiang Kashi region in the production and sales of new plums, with the area becoming the largest production base in China, contributing to rural revitalization and farmer income growth [1][2]. Financial Support and Initiatives - The People's Bank of China has implemented financial support initiatives for the new plum industry, including a focus on "ten million tons of fruit income" as a key task for rural revitalization [1][2]. - Since 2022, a total of 28.9 billion yuan has been allocated in agricultural loans to Kashi County, facilitating low-interest loans of 36.38 billion yuan and benefiting nearly 57,000 market entities [2][3]. Innovative Financial Products - Financial institutions have introduced innovative loan products like "New Plum Loan," which offers high credit limits, low interest rates, and flexible terms to address financing challenges in the new plum industry [3][4]. - As of August, over 17,000 "New Plum Loans" have been issued, amounting to 1.31 billion yuan, covering all 310 administrative villages in Kashi County [3][4]. Comprehensive Service System - The "New Plum Loan+" initiative has developed a financial supply chain service system that supports the entire new plum industry chain from planting to sales, enhancing farmers' income and providing financial security [4][5]. - The program has issued 14,904 loans totaling 8.35 billion yuan, promoting the large-scale cultivation of over 240,000 acres of new plums [4][5]. Addressing Industry Challenges - The "New Plum Loan" addresses logistical challenges by financing cold storage construction, transportation vehicles, and online marketing platforms, with 2,138 loans issued for these purposes, supporting the construction of 14,304 square meters of storage [5][6]. - The program also supports processing enterprises by offering various collateral options, resulting in 200 million yuan in loans benefiting nearly 400 processing companies and cooperatives [6]. Industry Growth and Transformation - With financial backing, the new plum industry has transitioned from extensive planting to standardized and large-scale production, significantly increasing added value and contributing to rural income and revitalization [6].

Core Viewpoint - The financial system in Xinjiang has significantly evolved over the past 70 years, particularly in supporting high-quality economic and social development, with a focus on poverty alleviation and rural revitalization [1][2]. Financial Support for Poverty Alleviation and Rural Revitalization - During the poverty alleviation campaign, a command center was established to integrate resources from over 800 financial institutions, focusing on industrial poverty alleviation and innovative financing models [1]. - As of June 2023, the agricultural loan balance in Xinjiang reached 1.28 trillion yuan, accounting for over one-third of total loans [2]. Financial Initiatives in Southern Xinjiang - Southern Xinjiang is identified as a strategic area for development, with financial policies aimed at enhancing economic growth and social stability [2]. - By June 2023, the loan balance for agricultural and small enterprises in Southern Xinjiang reached 19 billion yuan, with a year-on-year growth of 14.8%, surpassing the average growth rate of the region [2]. Support for Modern Industry and Green Finance - Financial institutions have developed specialized loan products to support local agricultural industries, contributing to rural income and revitalization [3]. - Xinjiang has established 61 green finance institutions, with green loan balances reaching 633.77 billion yuan, accounting for 30% of new loans this year [5][6]. Cross-Border Trade and Investment Facilitation - The establishment of the Xinjiang Free Trade Zone aims to enhance cross-border trade financing and improve the investment environment, with a loan balance of 133.49 billion yuan as of June 2023 [4]. - The region has implemented policies to facilitate trade and investment, significantly increasing the use of the renminbi in cross-border transactions [4]. Future Financial Strategies - The focus will be on enhancing financial services to support the real economy, with an emphasis on maintaining stable credit growth and implementing effective monetary policies [7]. - The strategy includes expanding the use of renminbi in cross-border transactions and promoting financial innovations that can be replicated and scaled [7].

Core Viewpoint - The financial system in Xinjiang has significantly evolved over the past 70 years, particularly in supporting high-quality economic and social development through improved financial services and products [1] Group 1: Financial Support for Poverty Alleviation and Rural Development - During the poverty alleviation campaign, a command center was established to integrate resources from over 800 financial institutions, focusing on industrial poverty alleviation and increasing credit investment in key industries [2] - As of June 2023, the agricultural loan balance in Xinjiang reached 1.28 trillion yuan, accounting for over one-third of total loans [2] Group 2: Financial Initiatives in Southern Xinjiang - Southern Xinjiang is recognized as a strategic area for development, with financial support leading to a 14.8% year-on-year increase in loan balances, surpassing the average growth rate in the region [3] - Financial institutions have developed specialized loan products to support local agricultural industries, enhancing farmers' income and contributing to rural revitalization [4] Group 3: Financial Contributions to the Belt and Road Initiative - Xinjiang's unique geographical position facilitates cross-border trade, with 27 banks qualified for foreign exchange services, expanding the range of currencies to 20 [5] - Since the implementation of cross-border financing management, a total of 641 billion yuan has been achieved in cross-border financing [5] Group 4: Development of Free Trade Zone - The establishment of Xinjiang's Free Trade Zone marks a significant milestone, with a loan balance of 133.49 billion yuan as of June 2023, reflecting a 7% year-on-year growth [6] - Innovative financial services and products have been introduced within the Free Trade Zone to enhance trade and investment facilitation [6] Group 5: Green Finance Initiatives - Xinjiang has established 61 banking green specialized institutions and 10 non-banking green specialized institutions, with green loan balances reaching 633.77 billion yuan [7] - Innovative financial tools for carbon reduction and low-carbon transformation have been developed, including various types of loans linked to carbon emissions [8] Group 6: Future Financial Strategies - The financial sector aims to continue supporting the real economy, focusing on credit growth and enhancing the implementation of financial policies to ensure effective outcomes [9] - Plans include expanding the use of the renminbi in cross-border transactions and promoting financial innovations that can be replicated and promoted [9]