Current situations and countermeasures of the financial support for the development of agricultural science and technology in Hunan

Financial support for the development of agricultural science and technology requires the integration of a fully functioning financial marketing system, a privately participating financial system, and a supporting government policy system to attract more private investments. Hunan is a big traditional agricultural province with many large powerful agricultural companies. In recent years, the rapid development of agricultural science and technology in Hunan Province shows a growing trend of diversified financing needs. Even with growing investment from local sources, the development of agricultural science and technology still faces many challenges, including inadequate market mechanism, insufficient government mechanism, lack of social participation, limited financing channels, low proportion of direct financing, lack of innovation of financial products, and lack of agricultural science and technology insurance. To copy with these challenges, this paper suggests: to establish coordination mechanism between agricultural science and technology and agricultural financing system, to encourage financial innovation to reflect modern features agricultural science and agricultural demonstration zone, to create a favorable financial ecological environment, and to cultivate agricultural science and technology finance personnel.