Why this is important to Wisconsin businesses: The financial aid also covers infrastructure construction and water conservation.

The Agricultural Development Bank of China (ADBC) provided more financial support to China's agriculture and rural development in the first quarter of 2016. The financial aid for agriculture, rural areas and farmers was twice the amount provided in the same period last year.

The surge in lending comes amid a Chinese government campaign to develop modern agriculture and increase farmers’ income. According to a statement released in February by the China Banking Regulatory Commission, China will improve financial support for the modernization of agriculture. The ADBC loans will support infrastructure construction in rural areas, including renovation of shantytowns, water conservancy projects and road construction.

Financial support is expected to improve in fields such as food processing and rural tourism as well. These areas align with the country’s aim to transform agricultural development patterns.

With the imminent modernization of China’s agriculture, spending will grow for purposes such as improving the agricultural layout, building modern facilities, industrialization, tourism, leisure, the “Internet Plus” initiative, and smart agricultural projects in China.