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Agricultural Develop Bank of China（ADBC） earnestly implemented instructions and spirits of the CPC Central Committee on winning the critical battle of epidemic prevention and control, and gave top priority to ensuring market supply of grain and other key agricultural products, maintaining price stability and providing adequate funding for the purchase, distribution and reserve of key agricultural products in an effort to fully support the prevention and control of the epidemic. From 20-30 Jan, the Bank accumulatively granted RMB 2.29 billion in loans for the purchase, distribution and reserve of key agricultural products.

To ensure adequate funding for grain and other key agricultural products, ADBC took the initiative to work with National Development and Reform Commission, National Food and Strategic Reserves Administration, and China Grain Reserves Group etc to formulate policies to stabilize the market. Branches at all levels worked closely with local food authorities and subsidiaries of Sinograin to identify demands for credit and provide credit support for grain and other key agricultural products. The Bank has timely disbursed RMB1.07 billion in loans for the purchase, distribution and reserve of grains and RMB100 million in special loans for the pork industry respectively.

In the meantime, ADBC has enhanced support for the leading companies in the processing of grain, edible oil and other key agricultural products by providing credits in a timely manner. The Head Office has opened up a fast track for the application and approval of loans to satisfy the demands of clients as well as branches at local level. The Bank has accumulatively disbursed loans for the processing of agricultural products totaling RMB1.12 billion, further contributing to the guarantee of market supply and the maintenance of price stability.