The Agricultural Bank of China, one of the country’s largest commercial lenders, has scaled up support for rural revitalization, according to the latest data from the bank.
As of the end of 2022, the bank’s outstanding loans to sectors related to rural revitalization reached 7.31 trillion yuan (about 1.03 trillion U.S. dollars), up 1.11 trillion yuan from the beginning of the year.
In particular, the outstanding loans to grain-related sectors increased 22.5 percent year on year, while those to rural construction expanded 21.6 percent.
The bank has also sought to extend financial services to more rural areas nationwide, with 56 percent of all its outlets being located in county.—Xinhua
