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A view of rice harvesting in east China's Jiangsu Province, October 3, 2022. /CFP
The Agricultural Bank of China will provide more than 300 billion yuan ($43.3 billion) in loans to support autumn harvest and planting in the country, China Central Television (CCTV) reported on Monday.
The loan will focus on areas including grain production, agricultural product storage, cold chain logistics, and construction of farmland facilities, according to the CCTV report.
Official data showed that China has completed 38.6 percent of the total autumn harvest at 33 million hectares.
Throughout 2022, other banks have also increased loans to the agricultural sector.
The Agricultural Development Bank of China, the country's rural policy bank, issued 2.14 trillion yuan in loans in the first three quarters of this year, up by 373.9 billion yuan over the same period last year.
China Everbright Bank, a national joint-stock commercial bank, has steadily increased lending, with outstanding agriculture-related loans amounting to 411.9 billion yuan as of the end of August.
(With input from Xinhua)
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466