On August 25, the People's Bank of China reported that the People's Bank of China, the General Administration of Financial Supervision and the State Forestry and Grass Administration jointly issued the Notice on Financial Support for High Quality Forestry Development recently, which proposed that we should make good use of structural monetary policy tools, broaden direct financing channels for forest related enterprises, and increase financial support in the forestry field. The notice proposes 15 specific measures from five aspects, including deepening the reform of the collective forest tenure system and providing financial services, strengthening financial support for the implementation of important forestry strategies, increasing financial investment in high-quality development of the forestry industry, establishing a financial support mechanism for realizing the value of ecological products, and improving the policy supporting system and guarantee mechanism. The notice clearly states that efforts should be made to increase innovation in forest tenure mortgage loan products and services, broaden the scope of forest tenure that can be mortgaged, extend loan terms in accordance with laws and regulations, and promote the incremental improvement and expansion of forest tenure mortgage loans. Regions with conditions should promote the establishment of forest rights collection and storage institutions according to actual needs, and encourage social capital to provide forest rights collection and storage guarantee services. Encourage various regions to optimize the forest tenure value assessment mechanism, formulate unified assessment criteria, clarify operational procedures and fee standards, and enhance the scientific and rational nature of assessment methods. Strengthen the management and disposal of mortgaged forest rights, and protect the legitimate rights and interests of mortgagees. Establish a sound and comprehensive registration mechanism for forest rights mortgage, explore the establishment of forestry databases and trading platforms, and promote the market-oriented trading of forest rights in a standardized and orderly manner. The notice emphasizes the need to focus on important ecological projects such as national reserve forest construction and the "Three North" project, explore diversified investment mechanisms, and strengthen the docking of financial service demand. In response to the characteristics of moderate scale forestry management entities, we provide suitable financial products and services, actively meet the financing needs of cultivating characteristic industries under the forest, raw material storage and deep processing, transformation and upgrading, cold chain preservation, and logistics, and comprehensively use financing methods such as credit, equity, and bonds to promote the integrated development of the primary, secondary, and tertiary industries in forestry. Focusing on the management and development of forestry carbon sink resources, we will explore and improve the evaluation methods for the mortgage value of forestry ecological products, optimize financing services using digital technology, and enhance the accessibility, convenience, and safety of ecological product value financing. The notice requires exploring the construction of a forest insurance product system that includes index insurance, yield insurance, income insurance, and liability insurance. Enhance the risk prevention and control capabilities of financial institutions, establish a risk management mechanism for forest tenure mortgage loans that integrates assessment, insurance, supervision, disposal, and storage, and strengthen financial risk prevention and management. Various regions should establish a consultation mechanism for financial support for forestry reform and development, build effective platforms for collaboration and information exchange, and promote the implementation of various policy measures. The forestry regulatory department shall establish and improve a project database of financing needs in the forestry field, strengthen sharing and integration with the financial system, and improve the accuracy and effectiveness of financing integration. The People's Bank of China said that, in the next step, it will work with the General Administration of Financial Supervision, the State Forestry and Grassland Administration and other departments to speed up the implementation of the notice, unblock the government bank enterprise financing docking channels, timely summarize and promote typical experience and practices, constantly improve the quality and efficiency of financial services in deepening the reform of collective forest property rights system, and help the high-quality development of forestry. (New Society)