Agricultural Bank of China (ABC) has started to experiment rural land-use right secured loans to echo the regulator's urge for stronger financial support to agriculture, rural areas and farmers.
By the end of October, 149 sub-branches of ABC's 20 branches had made nearly 790 million yuan of such loans. ABC amended earlier this year its 2014-debuted rural land-use right secured lending management measures to further appease collateral and guaranteed issues of large and specialized households and family farm operators.
Besides, ABC continued to boost financing to new agricultural operating entities, supporting about 240,000 various large and specialized households and family farms with 42.6 billion yuan of such loans by the end of October.
This year, it financed 150,000 such new agricultural operating entities with 25.2 billion yuan lending. In next step, ABC would further expand its financial services to new agricultural operating entities including large and specialized households and family farms to foster related business.
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