Firms in region join hands with local government, financial institutions to support impoverished households
Huo Jinyuan, a 72-year-old farmer in Ulaanqab in the Inner Mongolia autonomous region, struggled to make ends meet before an oats company joined hands with the local government and financial institutions to help lift impoverished households in the region out of poverty.
The annual net income of his family has now increased from between 3,000 yuan ($427) and 5,000 yuan to 12,000 yuan as Yinshan Oats, a company specialized in oat breeding, planting, deep processing and warehouse logistics in Qahar Right Wing Middle Banner of Ulaanqab, offered him free oat seeds and bought the oats he planted for 3 yuan per kilogram, 30 percent higher than the market price.
