Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Agricultural Bank of China sees loan increase of 1.2 trln yuan in Q1 !

Agricultural Bank of China sees loan increase of 1.2 trln yuan in Q1

Time:2024-05-08 01:41:34 source:International Inklings news portal
BEIJING, May 1 (Xinhua) -- Agricultural Bank of China (ABC), one of the country's largest commercial lenders, saw its total loans reach 23.9 trillion yuan (about 3.36 trillion U.S. dollars) by the end of March, as the bank enhanced financial support for major projects, key areas and weak links of the Chinese economy. The figure rose by 1.2 trillion yuan, or 5.5 percent from the end of 2023, according to the first-quarter financial report of the bank. As of the end of March, the lender's outstanding loans extended to the manufacturing sector exceeded 3.3 trillion yuan, increasing by 373.7 billion yuan from the end of last year. The balance of loans to support emerging strategic industries grew by more than 600 billion yuan to 2.7 trillion yuan, while the outstanding loans for green and low-carbon areas increased by 18.9 percent to 4.8 trillion yuan. In the first quarter, ABC continued its loan support for China's agricultural sector, with the balance of the bank's agriculture-related loans standing at 7.2 trillion yuan at the end of March, accounting for 30.8 percent of the total value of its domestic loans.  

(Editor:Liao Yifan)

Related information
  • Trump faces jail threat over gag order as prosecutors zero in on transactions at heart of the case
  • Shayne Carter: ‘Art has always been completely undervalued’
  • BNP Paribas focuses on offshore investor demand for NZX
  • Scrapping clean car discount cost $138m in fuel savings – transport officials
  • College protests: Columbia University cancels main commencement
  • Trump to stand trial on 25 March in New York criminal hush money case
  • Despair in Gaza as fighting intensifies, despite Israel promise to scale back
  • Work to begin on Nelson road badly damaged in 2022 floods
Recommended content
  • Man dragged by bear following fatal car crash, Massachusetts state police say
  • AUKUS a military pact designed to contain China, says Labour
  • EDITORIAL: Diet ethics panels failing to unravel the tangled LDP funding scandal
  • Christopher Luxon tells team to fact
  • Will JLo steal the show? Jennifer Lopez is set to co
  • Weather: Easter weekend chill calls for extra layers