Agricultural Bank of China steps up support for manufacturing industries

0 Comment(s)Print E-mail Xinhua, June 5, 2022
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The Agricultural Bank of China, one of the country's largest commercial lenders, has scaled up support for the manufacturing sector.

By the end of April, the bank's outstanding loans to the manufacturing industry exceeded 2 trillion yuan (about $298 billion), an increase of nearly 16% compared with the beginning of the year, according to the bank.

Medium and long-term loans to the manufacturing industry jumped by 21% compared with the beginning of the year, the bank said.

The bank has also ratcheted up support for small and medium-sized enterprises (SMEs), with loans to SMEs in the manufacturing sector hitting over 600 billion yuan by the end of April, according to the bank.

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