The main conclusion is that ( 1 ) china ' s acm is incomplete , therefore , the market equilibrium is in low level ; ( 2 ) the operating scale , the income and property , the product investment , the cash expenditure of education and medical treatment are the main factors that affect the credit demand of households in rural china ; ( 3 ) the asymmetry information , the high transaction cost and the lack of effective supply institutes are the main factors that lead to low efficiency of china ' s acm ; and ( 4 ) the agricultural credit has the positive effect on china ' s agricultural production factors demand and agricultural output , consequently , the agricultural credit is the main factor that restrain the increase of agricultural output and agricultural development 本文的基本结论是：中国农业信贷市场正处在发育的初级阶段，市场机制仍不完善，农业信贷市场处于“低水平均衡”状态；农户是中国农业信贷需求的主体，农户经营规模、农户收入和财产状况、农户生产投资规模以及教育、医疗等大额现金支出是影响农户借贷需求的主要因素；非对称信息、高交易成本、有效供给制度缺乏是造成农业信贷市场低效率的重要因素；中国农业信贷投入对农业投入要素的需求具有正向影响，即增加农业信贷供给，将会提高农业投入要素的需求水平，进而增加中国农业产出，促进农业长期发展。
In detail , the mechanism analysis has been divided into four parts : the demand of agricultural credit , the supply , the interest rate and market equilibrium , disequilibrium information and risk . additionally , the efficiency analysis pays attention to two sides : market efficiency and the acm ' s effect on agricultural output 在运行机制分析中，分别从中国农业信贷需求、供给、利率与市场均衡、非均衡信息与风险四个方面进行了研究；在绩效分析中，分别从市场效率和农业信贷对农业产出的绩效两个方面进行了研究。
