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15 July 2015

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Oil-tea Camellia Industry Heats up Again

The General Office of Hunan Provincial People’s Government issued On Further Advancing Oil-tea Camellia Industry Development, indicating the government would strengthen its support in respects like policy support, scientific-technical progress and market order. The Hunan Branch of the Agricultural Bank of China (ABC) gives an active and quick response, issuing series of credit policies including On Implementation of Credit Support of Oil-tea Camellia Industry Development and Management of Loans for Oil-tea Camellia Peasants.

With the government’s strengthening support and “fuel” from the ABC Hunan branch, the oil-tea camellia industry of the province is heating up again. Ever since May, leaders headed by Zhang Xiaonan, president of ABC Hunan branch, have been leading different teams to go deep into main origin places of oil-tea camellia, such as Leiyang and Taoyuan county, investigating the places and issuing credit measures to support local oil-tea camellia industry. The measures are as follows: In the respect of support area, 48 key county-level branches of the ABC in the province including Changning and Leiyang branches are chosen to be the “Leading Branch” of oil-tea camellia industry to implement strategy of giving priority to develop as well as significantly incline to credit scale and delegation; in the selection of clients, support will be specially given to leading enterprises, leading specialized households, household farms and new agricultural operating entities like farmers’ cooperatives and 100 oil-tea camellia growers will be trained; as for financial innovation, guarantees like forestry right mortgage, contracted land-use right mortgage, non-standard warehouse receipt pledge, pledges of movable camellia seed will be explored to tackle the deficiency of oil-tea camellia enterprises and household mortgages; considering the construction of credit mechanisms, local governments will be urged to establish oil-tea camellia credit mechanisms and combine supporting policies with credit support to enhance risk-resist ability.

With a long return period and a vast investment, oil-tea camellia industries are universally confronted with problems of fund shortage and financing difficulty. The ABC Hunan branch and the Forestry Department of Hunan Province signed a cooperation agreement to resolve financing difficulties of leading enterprises, farmers’ cooperatives and oil-tea camellia growers in a joint effort. In recent years, the branch has gradually invested more than a billion yuan in oil-tea camellia industry loans. At the end of 2014, Hunan oil-tea camellia forests covered an area of 1,342,000 hectares, annual output of camellia oil reached 207,000 tons and annual gross output hit 21.3 billion yuan. All three figures rank first nationwide. Provincial-level leading oil-tea camellia enterprise--Hunan Bobang Agricultural and Forestry Technology Co., Ltd. locates at Taoyuan County, was once in severe shortage of fund. Owing to a 40 million yuan supporting loan from the ABC Hunan branch, the company adopts a “company-base-cooperative-households” operating mode, establishes a high yield oil-tea camellia forest base that covers an area of 4,000 hectares and over 6,000 farmers become industrial workers.


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