耐心资本助力农业新质生产力：内在逻辑、现实挑战与实践路径

Patient Capital Empowering New Quality Productive Forces in Agriculture: Internal Logic, Practical Challenges and Implementation Path

摘要: 培育农业新质生产力是建设农业强国，推进乡村全面振兴的核心抓手，但农业产业存在双重长周期、多重风险叠加、资金投入密集、投融资市场衔接不畅等固有短板，使得短期逐利资本难以持续深度布局。而耐心资本具备长期性、高风险耐受、大规模投入、多维价值共创的核心特征，二者在时间、风险、价值维度高度适配。本文从劳动者、劳动对象、劳动资料、生产关系与产业生态四个维度厘清耐心资本赋能农业新质生产力的内在逻辑。研究发现，当前赋能实践面临耐心资本供给不足、激励考核制度缺位、农业知识产权保护薄弱、资本退出渠道不畅、市场化投融资机制不完善等现实难题，据此提出相应实践对策，在总结部分阐明耐心资本落地存在多重潜在风险，发展过程需兼顾效率公平、创新规范，维护农民主体地位，构建更加包容、稳健、可持续的现代化农业。

Abstract: Cultivating new quality productive forces in agriculture is the core approach to building a strong agricultural nation and promoting comprehensive rural revitalization. However, the agricultural industry has inherent weaknesses such as dual long cycles, overlapping multiple risks, capital-intensive investments, and poor connection with investment and financing markets, making it difficult for short-term profit-seeking capital to sustain deep involvement. Patient capital has core characteristics of long-term orientation, high risk tolerance, large-scale investment, and multi-dimensional value co-creation, making it highly compatible with agriculture in terms of time, risk, and value. This paper clarifies the internal logic of patient capital empowering new quality productive forces in agriculture from four dimensions: laborers, labor objects, means of labor, production relations, and industrial ecology. The study finds that current empowerment practices face practical challenges such as insufficient supply of patient capital, lack of incentive and assessment systems, weak protection of agricultural intellectual property, poor capital exit channels, and imperfect market-based investment and financing mechanisms. Corresponding practical countermeasures are proposed accordingly. The summary points out that putting patient capital into practice comes with multiple potential risks. The development process needs to balance efficiency and fairness, regulate innovation, protect farmers’ central role, and build a more inclusive, stable, and sustainable modern agriculture.