Northeast China's Heilongjiang province has launched a pilot project allowing farmers to deposit their grain in bank, according to www.cnchemicals.com.
Two pilot grain banks offer the service free of charge. Farmers can withdraw or discount their deposits anytime, and can buy more grain from the banks.
The pilot project is part of agricultural reforms in the province, allowing farmers to pick the right time to sell their labor fruits and maximize profits.
An online transaction platform is also being undertaken, on which farmers can sell grain to any bidder.
Last year, a comprehensive agricultural reform pilot zone based on the Songnen Plain and Sanjinag Plain in the province was approved by the State Council.
Heilongjiang is one of the most important commodity grain bases in China.