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Agricultural bank promotes rural revitalization with financial services

Updated: September 26, 2021
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The Jilin branch of Agricultural Bank of China hosts a press conference during the 13th CNEA Expo to introduce its financial services, Sept 25. [Photo provided to gojilin.gov.cn]

The Jilin branch of Agricultural Bank of China promoted its financial services targeting rural revitalization at a press conference held during the 13th China-Northeast Asia Expo (CNEA Expo) in Changchun, Northeast China's Jilin province, on Sept 25.

As of the end of August, the bank's county-level loans totaled 73.87 billion yuan ($11.43 billion), an increase of 6.96 billion yuan from the beginning of the year, and the growth rate was 2.5 percentage points higher than that of the bank as a whole.

The bank emphasizes the protection and utilization of black soil and makes every effort to improve the country's food security.

As of the end of August, the balance of loans in the field of food security was 22.24 billion yuan, an increase of 2.1 billion yuan from the beginning of the year.

The bank jointly initiated the establishment of the Coordinated Development Alliance for Black Soil Protection and Utilization with Jilin University to create a black soil protection and utilization platform involving government, banks, schools, enterprises, and technology.

At the end of August, the province's 26 black soil protection cities and counties had loan balances of 28.7 billion yuan. The bank continues to increase financial support for major projects such as farmland water conservancy, agricultural infrastructure, and water-saving transformation of large-scale irrigation areas, as well as key links such as modern seed industry upgrading and agricultural technology innovation.