April 30, 2008

China's ADB to support grain purchases with credit supply

China's Agricultural Development Bank of China (ADB) pledged to sustain support for agriculture through the management of credit supply in the purchase of grain, cotton and oil.

ADB governor Zheng Hui calls for ADB subsidiaries across the country to understand the country's agricultural product purchase policy and be proactive in the credit awarding in the minimum price purchase of grain products.

Zheng requires subsidiaries in China with minimum purchase prices to follow market price changes closely to prevent interruptions in credit supply and grain acquisition.

Furthermore, ADB requires branches to support central and local grain stockpiles by ensuring the monetary demand of central grain and oil replenishment and replacement.