China’s bank policy lends billions

In the first four months of this year, the Agricultural Development Bank of China, the government’s rural policy bank, disbursed around 20.5 billion yuan (about 3.1 billion US dollars) in loans to 160 rural counties across the country.

According to the policy bank, loan issuance grew by around 4.6 billion yuan over the previous year.
According to the report, a unique initiative would be created to keep the country’s main rural areas from relapsing back into poverty and to advance rural vitalization on all fronts.

As a result, the bank will provide tailored financial services, extend loan issuance to rural inhabitants, and assist in channelling more investment into rural regions.

It will also coordinate additional investment operations in these areas for state-owned firms and agricultural sector leaders from the country’s more established eastern regions.