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 01:29:43 source:Global Genesis 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
  • King Charles III's coronation anniversary is marked by ceremonial gun salutes across London
  • West Virginia GOP County Commissioners removed from office after arrest for skipping meetings
  • Giving Putin the slip! 98
  • CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist
  • Will JLo steal the show? Jennifer Lopez is set to co
  • Adames homers twice with 4 RBIs, Brewers beat Rays 7
  • Workers rule the streets on May Day
  • John Mulaney reveals he cracked his teeth trying to get off benzo drugs Xanax and Klonopin
Recommended content
  • Auditors can't locate former St. Louis circuit attorney to complete state audit
  • Giving Putin the slip! 98
  • Mbappé leads full
  • Rumer Willis displays her stunning bikini body during family getaway to Mexico
  • Liam Gallagher rents swanky £17,000
  • US job openings fall to 8.5 million in March, the lowest level in more than 3 years