China’s policy bank lends billions more to agriculture

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The Agricultural Development Bank of China, the country’s rural policy bank, has issued 2.14 trillion yuan (about 301.5 billion U.S. dollars) of loans in the first three quarters of this year, up 373.9 billion yuan over the same period last year.

The loans were issued to support agricultural production, ensure the well-being of the farmers, and improve the rural areas to help underpin the country’s economic fundamentals, said the bank.

To ensure grain security, the bank has issued loans worth 372 billion yuan to help purchase summer and autumn grain over the past year, up 96 billion yuan year on year. — Xinhua

 

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