The Ministry of Agriculture and Rural Affairs issued a risk alert on October 29, saying that recently, criminals fraudulently used the names of Ministry of Agriculture and Rural Affairs staff or experts in the field of rural revitalization to misrepresent the financing project bank service function, spread false information such as project investment being carried out by the Ministry of Agriculture and Rural Affairs special fund, that large low-interest loans do not need to be repaid, and that products are fully underwritten by the state, or falsely claiming that investment projects can be submitted through special channels to defraud agricultural operators of money. Some scams also require local governments to cooperate in providing land and designating state-owned enterprises to advance funds. The Ministry of Agriculture and Rural Affairs said that the services provided by the financing project bank are all public welfare, and there are no fees; there are no false investment and financing projects or special investment funds such as “national agricultural re-investment special support loans” or “three-dimensional AI shrimp farming special fund projects”; there are 26 banks with financial project bank cooperation qualifications, and all relevant credit products have strict reporting conditions, approval procedures and fund supervision requirements.

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