Thanks to a financing firm’s cooperation with local authorities, crowdfunding has helped boost the business of agricultural companies in the southern island province of Hainan.
CreditEase Corp, a leading Chinese peer-to-peer or P2P lending and wealth management company, has worked closely with the Hainan Equity Exchange Center, to provide crowdfunding services to local agricultural companies since last year.
Six crowdfunding projects have been launched till September. High-worth transactions were clinched online, said Ban Miaoqi, general manager of the HEEC.
Ban added, “We have seen a growing number of local agri-companies use crowdfunding to boost sales of their products”.
More than a dozen such projects are on the drawing board. At least five are likely to be launched in the last quarter of this year, continued Ban.
Agri-products of the tropical Hainan are usually low-priced and promoted in a low-key way nationwide, according to Ban.