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Finance: Policy 'breakthrough'
(Xinhua)
Updated: 2006-03-21 15:38
Agricultural Development Bank of China (ADBC) has been given the nod to grant
loans to small agro-firms, a "breakthrough" for the policy bank whose loans
mostly go to government-designated agricultural and rural
sectors.
Approved by the China Banking Regulatory Commission, pilot
business will be conducted by the ADBC's Shandong, Jiangxi and Chongqing
branches, before spreading to the whole bank, it said in a statement.
Loans will target small agro-businesses that "exert a fairly big impact on
the development of agriculture and rural economy and broadly represent the
planting, breeding and processing industries," ADBC said.
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