A groundbreaking "town-wide credit" initiative in Maoming's Maonan District has unlocked 933 million yuan ($128 million) in financing for the local tilapia industry, marking a significant step toward building a 10-billion-yuan aquaculture cluster.
Seven banks partnered with 10 townships on July 8 to provide credit lines covering 914 businesses across the tilapia supply chain—from fry breeding to processing and logistics. The program leverages China's SME cash-flow data platform to assess creditworthiness, enabling the instant disbursement of 120 million yuan during the signing ceremony.
As Guangdong's tilapia hub with an annual output exceeding 2 billion yuan, Maonan has long faced financing bottlenecks due to insufficient collateral. The People's Bank of China's Maoming branch pioneered this data-driven solution, allowing a local processor to secure 5 million yuan in credit, with 500,000 yuan immediately available to address cash flow shortages.
"This targeted support comes at a critical moment for scaling up production," said a representative from a beneficiary enterprise. The initiative demonstrates how financial innovation can empower rural industries, with plans underway for follow-up measures to cement Maonan's position as a national tilapia production base.
Reporter & Photo: Yang Jianxiong
Editor: Wei Shen, James, Shen He
