Chinese banks provide increased support for agricultural development in 2020

Chinese banks increased their financial support for agricultural development last year, according to data released by the central bank.

Agriculture-related loans outstanding amounted to 38.950 billion yuan (about 6.050 billion dollars) at the end of 2020, an increase of 10.7% from the previous year, according to the People’s Bank of China.

Outstanding loans to rural borrowers increased 11.9 percent year on year to reach 32.270 billion yuan in 2020, 3.6 percentage points above the level reached at the end of 2019.

Outstanding loans to agricultural households increased 14.2 percent from last year to 11.810 billion yuan, and outstanding loans in the agricultural sector increased 7.5 percent year on year to reach 4.270 billion yuan, according to the central bank.

China’s financial system will step up efforts to effectively support the real economy, central bank governor Yi Gang said earlier this year.

Commercial banks will be encouraged to develop loans for agriculture, rural areas, and farmers, as well as for small and micro enterprises and the manufacturing sector, Yi added.

News Room
News Room
Stories under this byline are written/directed/published by the staff and editorial board of MegaloPreneur magazine. Some of the MegaloPreneur journalists may also be involved in investigating and finding facts.

Your Comment





The doctor has applied for the Miss BumBum pageant, no one wants to hire her anymore

Souza was one of the favorites last year Model and doctor Ryan Laura Souza, 26, who lives in Bolivia last year, applied for the Miss...

Romina Malaspina, the sensual woman who makes all men sigh

The beautiful model was born on July 7, 1994, in Mar del Plata. Her beauty and way of being led her to be part...

Until yesterday, everyone in Croatia laughed at Aleksandra Prijovic, and today they are crazy about her songs

Even these days, the trend on YouTube in Croatia is not surprising - young Croats on this platform mostly listen to Serbian turbo-folk hits...

SEKA ALEKSIC BANNED IN THE MEDIA BECAUSE OF THIS- The singer answered and said only one thing

Seka also revealed that her older son Jakov is now in the growing up phase when he is very restless, but that she tries...

Emina Jahovic admitted that she did not have an easy life- I was the target, I was tried

Singer Emina Jahovic has often been the subject of gossip due to her divorce from Mustafa Sandal Singer Emina Jahovic has often been the subject...