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What does collective loan mean?
From the implementation of the contract responsibility system for joint production in rural areas to the early 1990s, the main form of rural credit supplementary agricultural loans was to uniformly lend to rural credit cooperatives at the beginning of the year to pay production costs for farmers, and most of them were credit loans; At the end of the year, farmers repay loans to village collectives, and then village collectives return loans from rural credit cooperatives.