Chinese Bank Deposits Rise 82.5-billion-yuan

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Last updated at: (Beijing Time) Thursday, February 28, 2002

Chinese Bank Deposits Rise 82.5-billion-yuan

The Agricultural Bank of China (ABC) Wednesday has reported 82.5 billion yuan up in savings deposits this year until February 20.

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The Agricultural Bank of China (ABC) Wednesday has reported 82.5 billion yuan up in savings deposits this year until February 20.

An ABC spokesman said this was 30.6 billion yuan more than the same period last year and the bank has already reached 68 percent of its annual target in 2002.

The bank attributed the favorable growth to a nationwide campaign carried out this year to provide high-quality services atall branches.

The People's Bank of China, China's central bank, has just cut the interest rate, and stock markets are moving out of slump, so special efforts should be made to deal with this new situation, sources say.

As one of the four state-owned commercial banks in China, the ABC mainly offers rural financial services.

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