Postal Savings Bank of China (PSBC) aims to position itself as a key player in advancing China’s rural revitalisation strategy. Guided by its commitment to serving agriculture, rural areas, and micro, small and medium-sized enterprises (MSMEs), the bank has developed the ‘One County, One Product’ (OCOP) programme. By combining big data analysis with comprehensive financial solutions, PSBC supports the development of county-level specialty industries, helping local farmers increase their incomes and promoting sustainable rural economic growth.

Ouyang Qiangzi  chief manager, rural finance business department at PSBC emphasised, “We are present in nearly every county in China. This allows us to collect and analyse comprehensive local data to identify industrial scenarios with development potentials.” PSBC’s OCOP initiative embodies the bank’s efforts to align its services with national priorities for rural revitalisation and poverty alleviation. 

Driving rural revitalisation through financial inclusion and big data

The foundation of PSBC’s OCOP programme lies in its use of big data technology to drive rural industrial upgrading. The bank conducts in-depth research into county-level agricultural industries, screening products with significant development potential. “We use big data to analyse market demand and help local governments and farmers select the best products for brand-building,” he said.

In Guangxi’s Baise region, for example, PSBC worked with local cooperatives to build the ‘Baise Mango’ brand. By providing dedicated loans to farmers, PSBC enabled them to expand planting areas, while also helping to establish logistics systems and connect with e-commerce platforms. This comprehensive approach boosted product recognition and increased sales. “Through these efforts, we not only promote agricultural efficiency but also increase farmers' incomes,” he added.

PSBC has implemented its OCOP model in over 1,000 counties across China, issuing more than RMB 600 billion ($84 billion) in loans to support county-level specialty industries. Its big data platform enables accurate credit evaluations, providing financing to farmers and rural MSMEs that have  traditionally lacked access to formal banking services.

Enhancing agricultural brands and market access

Brand development is at the core of PSBC’s strategy to increase the market competitiveness of agricultural products. According to Ouyang, “Many counties in China have excellent agricultural products, but without strong brands and effective marketing, these products struggle to reach broader markets.”

PSBC works with local governments, cooperatives and farmers to establish regional agricultural brands. In Jiangxi province, for example, PSBC supported tea producers by facilitating unified branding and packaging. This led to a 30% increase in market prices for premium green tea, raising farmers’ incomes.

By analysing consumer preferences through its big data platform, PSBC guides local industries to better meet market demand. In Sichuan, the bank helped agricultural enterprises reposition their products as organic, attracting health-conscious consumers and opening new sales channels. He explained, “Building a strong brand is not just about boosting sales; it’s about creating long-term value for rural communities.”

PSBC also partners with e-commerce platforms to expand sales channels. “We are solving the sales channel problem by integrating online and offline sales,” he noted. These partnerships have significantly improved product visibility and sales volumes across regions.

Leveraging digital finance to support rural SMEs and farmers

Digital finance is another cornerstone of PSBC’s OCOP initiative. The bank has developed an online credit evaluation system using big data to assess applicants’ creditworthiness, enabling farmers and MSMEs to secure financing more easily.

Ouyang explained, “We designed our digital platforms to address the financing challenges of rural customers. By automating risk assessments and streamlining loan applications , we significantly reduced processing times and made financing more accessible.”

In Hunan, PSBC introduced a mobile-based loan service for fruit farmers, allowing them to apply for and receive loans quickly during critical agricultural seasons. These innovations have lowered financing costs for rural MSMEs by reducing operational expenses.

Digital payment solutions also form part of PSBC’s ecosystem, supporting rural e-commerce. Farmers use mobile payments for secure and efficient transactions, fostering the growth of rural online marketplaces.

Promoting sustainable development and long-term rural prosperity

PSBC’s OCOP initiative incorporates environmental sustainability and social impact into its business model. Ouyang stressed, “Rural revitalisation must be inclusive and sustainable.”

The bank incentivises eco-friendly agricultural practices through preferential loans, encouraging farmers to adopt organic farming and water-saving irrigation. In Zhejiang, PSBC’s green finance solutions helped tea farmers transition to organic cultivation, resulting in higher market prices and healthier soil conditions.

PSBC also supports vulnerable groups, including women and elderly farmers, by providing financial literacy programmes and tailored financial products. In Shaanxi, PSBC facilitated the creation of women-led cooperatives focused on apple production, improving household incomes and fostering community cohesion.

Beyond finance, PSBC leverages rural logistics infrastructure and e-commerce platform with a whole package of service of cold-chain freight storage and delivery, to reduce post-harvest losses and enable broader market access for farmers.

A model for inclusive and sustainable rural revitalisation

PSBC’s ‘One County, One Product’ programme demonstrates how financial institutions can play a pivotal role in rural revitalisation. By combining financial inclusion, big data analytics, and digital services with sustainability initiatives, PSBC has created a replicable model for promoting rural prosperity.

The bank’s efforts in building agricultural brands, expanding financing, and fostering sustainable practices contribute to balanced regional development and social inclusivity. “We are committed to evolving our ‘One County, One Product’ model to meet the changing needs of rural communities,” Ouyang concluded, “ensuring that no one is left behind in China’s journey towards common prosperity.”

As PSBC looks to the future, it plans to deepen collaboration with local governments and explore emerging technologies such as artificial intelligence and blockchain to further enhance rural development initiatives.