The yellow cattle raised in Huadian, Jilin province [Photo provided to chinadaily.com.cn]

Huadian city in Northeast China's Jilin province has been promoting its beef cattle industry in an effort to increase local farmers' incomes, with measures taken in financial support and loan financing, according to local media reports.

The beef cattle industry in Huadian city has a long history. During the 13th Five-Year Plan period (2016-20), Huadian increased its financial support, introduced fiscal subsidy policies, and strengthened government-supported loan financing.

In partnership with the Postal Savings Bank of China, the city has launched a special entrepreneurial guaranteed loan, which seeks to solve the problems of unsecured farmer loans, difficult or expensive financing, the long beef cattle breeding cycle, and slow capital return.

The entrepreneurial guaranteed loan has advantages like simple procedures, low interest rates, and flexible loan terms.

Staff members of the Huadian branch of Postal Savings Bank of China visit farmers in Huadian, helping them with loan related issues. [Photo provided to chinadaily.com.cn]

Zhang Yuhui is one of the first batch of beneficiaries of the guarantee loan, and is currently breeding more than 30 yellow cattle.

With the help of the staff members at the Huadian branch of the Postal Savings Bank of China, it only took three days from submitting the materials to getting the loan. With this financial support, Zhang is full of confidence in the development of his business.

In 2019, "Huadian Yellow Cattle" was selected as a regional agricultural product public brand in China's agricultural brand catalog. In 2020, Huadian was identified as the Huadian Yellow Cattle "advantage area" for agricultural products with Chinese characteristics.

In 2020, there were 45,000 newborn calves in Huadian. Each calf can be sold after eight months of breeding, and the profit per calf after deducting the cost is about 10,000 yuan. This alone can help farmers increase their income by 450 million yuan, giving them an average household income of 27,700 yuan.