Wang Jinhua, General Manager of Hubei Longxia Tea Group, mortgaged the land management rights of 0.6 km? tea plantation, getting a loan of 8,000,000 RMB on December 6th. “I did not expect that we could mortgage the transfer of land management rights to get loan from bank.” Wang Jinhua said, “Now, we do not have to worry about purchasing fund of next year’s spring tea any longer.” It is learned that two agricultural enterprises in Yiling District have mortgaged rural land management rights to obtain a total of 13 million RMB loans from financial institutions since the end of November.

　　Currently, the transfer of rural land area in Yiling District reaches 57.7 km?, accounting for 18% of arable land, including 93 households with land transfer scale of 0.07 km?or more and 9 households with more than 0.7 km?.Rural Property Rights Exchange Center was established in October this year in Yiling District, providing supporting services for transfer transaction of rural and agricultural property right, including facilities, delivering information, organizing trade, investment and financing, so as to revitalize the huge “sleeping capital” of the transfer of land management rights and ground appendants, and solve the lack of collateral in rural credit market, the difficulties in mortgage and loads for farmers. By the means of land transfer, Hubei Yong’an Agricultural Development Co. Ltd. wins 13-year management rights of 0.27 km? Xianheguan tea plantation in Sandouping Town. The company has been planning to expand the area of standardization tea plantation and add highly processed products, but they could not make it due to the restrictions on the mortgage that couldn’t used for financing. On November 27th, the company handled procedures in Rural Property Rights Exchange Center in Yiling District and mortgaged the land management rights and ground appendants to Hubei Credit Guarantee Corporation of Agricultural Industrialization, getting a bank loan of 5,000,000 RMB, which solved the difficulties of tea plantation infrastructure, new product development and underfunded expanding marketing channels.

　　Huan Daping, director of Agricultural Economy Bureau and Rural District Property Rights Exchange Center in Yiling District, introduced that farmers’ biggest asset is land and rural housing, and after the registration right in the Exchange Center, the pledge right of management shall not be transferred to third parties before paying off the loan. By mortgaging rural land management right for loans, farmers can turn intangible assets into negotiable financial assets, thus achieving the goal of assets realization, intensive management, improvement in income and efficiency.

　　Liu Fangchun, director of Municipal Agricultural Economy Bureau, confirmed to reporters that Rural Property Rights Exchange Center in Yiling District is the first exchange center in Yichang, and the exploratory loan mode of rural land management right mortgage is the “ice-breaking” action in Yichang. (Reporter Deng Shide, Jin Guiman, Correspondent He Ying)