Assets of China's rural policy bank surpass 8 trln yuan
Source: Xinhua
The Agricultural Development Bank of China (ADBC), the country's rural policy bank, said its assets had exceeded 8 trillion yuan (about 1.26 trillion U.S. dollars) for the first time at the end of 2021.
The bank issued 2.34 trillion yuan worth of loans in 2021, with outstanding loans reaching 6.69 trillion yuan at the end of last year.
The bank will continue to improve its financial services this year to boost the country's rural development, agricultural modernization and regional coordinated development, said Qian Wenhui, chairman of ADBC.
Established in 1994, ADBC is under the direct leadership of the State Council and raises funds through the market based on national credit to support the development of agriculture, rural areas and farmers.
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