China's rural policy bank issues loans totaling 2.78 tln yuan in 2023

BEIJING -- The Agricultural Development Bank of China, the country's rural policy bank, has said that it issued loans totaling approximately 2.78 trillion yuan ($391.35 billion) in the country in 2023.

By the end of 2023, the balance of loans stood at 8.79 trillion yuan, the policy bank said.

Its assets totaled a historic 10 trillion yuan by the end of last year.

This year, it will continue to adhere to its fundamental purpose of serving the real economy, and work resolutely to help promote comprehensive rural revitalization, the bank said.

Established in 1994, it is the only agricultural policy bank in China under the direct leadership of the State Council.