Harbin Bank launches specialty loans for mushroom bag factories to boost county economies in Heilongjiang

Dongning City, known as "China's No. 1 Black Fungus County," produces over 900 million bags of black fungus annually, with dried product output exceeding 40,000 tons. In 2025, the industry's output value reached 3.9 billion yuan, and its brand value hit 16.951 billion yuan. For 20 consecutive years, the industry has kept farmers' per capita disposable income the highest in Heilongjiang Province.

Along the complete industrial chain—from spawn bag production to global sales—upstream spawn bag factories were once constrained by funding shortages. Harbin Bank (06138) Dongning Sub-branch proactively conducted site visits, broke away from traditional credit models, and innovatively launched a dedicated "Spawn Bag Factory" loan product. It provided a 1 million yuan loan to the Laoheishan Town spawn bag factory, supporting its steady expansion.

Strategic Support for Local Pillar Industries

As early as 2024, to serve the development of local pillar industries, Harbin Bank Mudanjiang Branch established a "One Black, One White" industrial development strategy. It issued the Harbin Bank Mudanjiang Branch Black Fungus Industrial Chain Customer Group Financial Service Plan, covering the entire chain from spawn bag processing, cultivation, acquisition and sorting, to deep processing and trade sales. As of now, the bank's dedicated black fungus market cluster program has extended credit to 140 clients, with a total credit limit of 71.93 million yuan, channeling financial "living water" to nurture county-level "wealth flowers."

In May 2025, Harbin Bank introduced the Harbin Bank Action Plan for Supporting County Economic Development Breakthrough Year, adhering to inclusive finance as its foundation, digital transformation as its driver, and industrial integration as its pathway. The bank is increasing financial support, continuing to serve rural revitalization, and assisting the development of local specialty industries.

Tailored Products for Specialty Industries

Harbin Bank closely follows the "Grain Head, Food Tail" and "Agriculture Head, Industry Tail" strategies, launching tailored products for grain processing, livestock breeding, and branded agriculture:

• Rice Processing Loan: Addresses financing difficulties and weak collateral issues for rice processing enterprises, alleviating seasonal capital pressure.
• Silage Loan: Developed in collaboration with the Provincial Dairy Association following in-depth ranch research, targeting silage feed procurement scenarios.
• Black Soil Premium Products Loan: Provides financing for authorized "Black Soil Premium Products" enterprises, helping high-quality Longjiang agricultural products reach national markets.
• Expected Revenue Pledge Loan: In cooperation with Heilongjiang Innovative Agricultural Property Rights Financing Co., Ltd., offers loans to large-scale growers (over 1,000 mu) based on expected revenue pledges, broadening financing channels for new agricultural business entities and delivering credit services directly to the fields.

Digital Empowerment for Accessible Finance

Harbin Bank is accelerating its digital transformation. In partnership with Chengdu New Hope Financial Information Co., Ltd., it has introduced big data and AI technologies to launch an online digital business loan product, enabling "data to travel more, customers to run less." The bank promotes grid-based, batch marketing and the development of market cluster program products targeting professional markets and commercial clusters. Deepening cooperation with Beidahuang Group and Agricultural Investment Big Data Company, it has rolled out the online "Nongshan Dai" (Rural Flash Loan) product, effectively covering reclamation and rural areas. To date, cumulative credit disbursement through related online products has exceeded 10 billion yuan, with digital finance rapidly reaching millions of households.

Precision Drip Irrigation Along the Chain

Adhering to the principles of "one bank, one strategy" and "one county, one product," Harbin Bank embeds financial services into the industrial, supply, and value chains. It continuously engages with above-scale enterprises and key listed clients to communicate pro-business policies. The bank has thoroughly implemented the small and micro-enterprise financing coordination mechanism, conducting ongoing visits and marketing to thousands of enterprises and households. It has extended credit of 6.454 billion yuan to 2,150 listed clients. The bank actively participates in policy briefings and product promotions organized by agriculture, industry, and information technology departments, as well as mainstream media, continuously expanding the coverage and influence of inclusive finance.

County-Level Achievements

As of now, the total loan balance of the bank's county-level sub-branches within the province is nearly 20 billion yuan. The loan-to-deposit ratio continues to rise, and the number of business clients is growing steadily. County sub-branches in Wuchang, Baoqing, Mishan, Zhaodong, Fujin, and Keshan have consistently improved their effectiveness in serving the real economy.

Looking Ahead

Standing at a new starting point for development, Harbin Bank will continue to take the comprehensive revitalization of Longjiang as its mission. Focusing on three key areas—small and micro markets, agriculture-related industries, and livelihood services—the bank will push financial services deeper, accelerate product innovation, and enhance digital empowerment, writing a new chapter in high-quality county economic development through concrete actions.