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China Post reports outstanding results in serving rural revitalization in 2022
China Post reports outstanding results in serving rural revitalization in 2022
|China Post News|2023-02-17

China unveiled its "No. 1 central document"—Opinions of the Central Committee of the Communist Party of China and the State Council on Comprehensively Promoting the Key Work of Rural Revitalization in 2023 on February 13. Based on the overall situation of building a modern socialist country in all respects, the document set out major plans for comprehensively promoting rural revitalization, which enabled China Post to make clearer its development direction, opportunities, responsibilities and tasks.

In 2022, China Post gave full play to its advantages in the integrated flow of commodity, logistics, capital and information to promote comprehensive service solutions integrating rural ecommerce, inclusive finance, and parcel, express and logistics services, therefore achieved good results in serving the rural revitalization strategy. As of the end of December 2022, the sales volume of China Post’s self-operated agricultural products reached over 10 billion yuan (about 1.44 billion US dollars), its wholesale transactions surpassed 11 billion yuan (about 1.59 billion US dollars), the balance of agriculture-related loans increased by more than 200 billion yuan (about 28.88 billion US dollars) compared with the previous year, and the revenue from posting and delivering agricultural products totaled more than 7 billion yuan (about 1.01 billion US dollars).

As of the end of 2022, notable achievements were made in serving new types of agribusiness. China Post designated a total of more than 380,000 credit villages and over 10 million credit users. It visited all farmers' cooperatives, and enabled postal services to reach more than 500,000 households. It cultivated nearly 1,100 demonstration cooperatives and 100 rural demonstration enterprises through its projects benefiting farmers, and expanded membership in rural areas by more than 17.8 million people. Meanwhile, China Post’s key services concerning solving the three key difficulties in financing, sales and logistics in rural areas developed rapidly. It completed 150 national-level farm produce bases, with a turnover of more than 10 billion yuan (about 1.44 billion US dollars) in farm produces. China Post generated a revenue of more than 7 billion yuan (about 1.01 billion US dollars) from posting and delivering agricultural products. In 2022, the net increase in the balance of agriculture-related loans surpassed 200 billion yuan (about 28.88 billion US dollars), and the net increase in inclusive agriculture-related loans exceeded 100 billion yuan (about 14.44 billion US dollars). The quality and efficiency of rural postal services were effectively improved. China Post’s cooperation with express companies covered 70 percent of administrative villages. Post offices and transformed outlets covered all townships and towns. And the number of high-quality ULE Ecommerce stations came up to over 190,000, generating 11 billion yuan (about 1.59 billion US dollars) in wholesale transactions.

China Post’s capabilities of serving rural revitalization were effectively enhanced in 2022. Its network and channels were continually improved. Based on 54,000 postal outlets, 450,000 ULE Ecommerce stations and the online platform ule.com, China Post initially established a signature O2O rural ecommerce platform. Construction of the three-tier logistics system was comprehensively advanced at village, township and county levels. With increased investment in rural logistics in 2022, China Post cumulatively built more than 1,000 county-level distribution centers, more than 6,000 township-level centers and 350,000 village-level stations. China Post’s digital capabilities were continuously enhanced. Relying on China Post Group’s CRM (customer relations management system) and big data platform, it built a service platform benefiting farmers to support the coordinated services in rural areas. The Postal Savings Bank of China (PSBC) made great efforts to press ahead with financial digitization and developed a middle office of financial data related to agriculture, rural areas and farmers, therefore effectively improved its capabilities of empowering rural revitalization through fintech.

The political and business environment was further optimized for China Post to serve rural revitalization. Continually implementing the strategic cooperation agreement with the Ministry of Agriculture and Rural Affairs (MARA), China Post focused on six key tasks and joined hands with the MARA to promote the high-quality development of new types of agribusiness. It pushed forward the implementation of strategic cooperation agreements with the Ministry of Commerce and the State Post Bureau, facilitating the building of county-level commercial systems. China Post also actively participated in the fintech-empowered rural revitalization demonstration projects launched by seven authorities including the People's Bank of China and the MARA, promoting the pilot and demonstration projects of PSBC. It took the initiative in contacting with local governments to undertake key tasks such as supporting consumption upgrading in rural areas, boosting the transformation and upgrading of agricultural industries, innovating and developing the distribution system for agricultural products, and increasing the supply of financial resources in rural areas.

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