April 3, 2012

Agricultural Bank of China allocates US$57.5-million loan for Xinjiang counties

Agricultural Bank of China (ABC) disclosed on March 31 that its Xinjiang branch allotted a total of US$57.5 million for poor counties in Xinjiang autonomous region, with net increment at RMB202 million (US$32.08 million).

During the same period, loan balance totalled RMB2.096 billion (US$0.33 billion). The loan growth stood at 10.67%, 6.95% higher than average loan growth of the ABC.

By the end of 2011, ABC Xinjiang branch had 174 county-level small enterprise clients and its county-level small enterprise loan balance hit RMB630 million (US$100.06 million), with small enterprise loan growth being 17.6% higher than that of the whole bank.

The branch mainly provided supports for county-level small and medium enterprises engaged in agricultural product processing such as processing of grain, cotton and fruits.