Abstract:

The financing problem has hindered the development of specialized farmers cooperatives. At present，the farmer
cooperatives not only have difficulty in external financing，but also lack the ability to solve the shortage of funds by themselves.
The vague value orientation of the farmers cooperatives，which leads to a series of management problems in systems of democracy
in management，unrestricted withdrawal，tight membership qualification requirements and distribution of profits，is the
fundamental reason of the financing problems. Therefore，we suggest that such problems be solved by clearly defining the relationship
between social value and economic value of the cooperatives according to the principles of corporate governance. The
measures may include harmonizing personnel and finance resources，restricting withdrawal，relaxing membership qualification
requirements，and modifying distribution system. Only when the financing problems faced by farmer cooperatives are solved，
effective protection for its development can be provided.

Key words: specialized farmers cooperatives；financing；Law of the People&rsquo, s Republic of China on Specialized Farmers
Cooperatives；profit distribution system；research center of farmer cooperatives in China