Agricultural Bank of China ups support for spring farming

Aerial photo taken on March 2, 2022 shows Gu Bingfa driving a farm machinery on the field in Jin'an Village, Gangshang Town in Nanchang County, east China's Jiangxi Province. (Xinhua/Peng Zhaozhi)

BEIJING, Feb. 13 (Xinhua) -- The Agricultural Bank of China, one of the country's largest commercial lenders, has pledged stronger financial support for spring farming.

The bank said it will strive to issue more than 160 billion yuan (23.48 billion U.S. dollars) in loans for spring farming preparations this year, and will improve the efficiency of financial services.

The financial support will focus on large-scale grain growers, family farms and farmers' cooperatives, among other agricultural entities, the bank said.

Preferential loan interest rates, exclusive credit products, and service-fee reductions and exemptions will also be provided, according to the bank.