Balance of Agricultural Loans Rises 20-Fold in 20 Years ĦĦĦĦOn February 23, 1979, in order to meet the need of rural reform and development, the Party Central Committee and the State Council decided to restore establishment of the Agricultural Bank of China. In the subsequent 20 years, the Agricultural Bank has consistently put supporting agriculture with credit in the first place, raised and accommodated funds through multiple channels and constantly increased credit input for agriculture. The balance of agricultural loans increased from 9.99 billion yuan at the end of 1979 to 209.3 billion yuan in late 1998, more than 20-fold increase. ĦĦĦĦAt present, the Agricultural Bank of China has fulfilled its historical mission as a specialized state bank and has entered a new stage of comprehensive transformation into a state-owned commercial bank. In a brand-new image of a commercial bank, the Agricultural Bank will continue to provide quality services for agriculture, rural areas, 900 million farmers, as well as urban and rural economic development. HomeNews 1999-02-23 Page1 Full Story in Chinese