Chinanews, Guangzhou, May 20 (Xinhua) — on May 20, Bank Of China Limited(601988) Guangdong Branch (hereinafter referred to as “Guangdong Bank of China”) and Guangdong Agricultural Financing Guarantee Co., Ltd. (hereinafter referred to as “Guangdong Agricultural Bank“) signed the guarantee cooperation agreement to further “improve quality and expand coverage” to help “agriculture, rural areas and farmers”.
According to the agreement, the two sides will give full play to their respective advantages, innovate and improve proportion sharing and industrial chain guarantee, effectively integrate the construction of agricultural credit guarantee system with financial support for “agriculture, rural areas and farmers”, and fully support the development of new agricultural business entities such as entities in the agricultural industrial chain, family farms, professional cooperatives and large planting and breeding households. BOC Guangdong will provide a total of 1.5 billion yuan of financing guarantee cooperation quota for Guangdong Agricultural Bank, and take practical actions to solve the problems of difficult and expensive financing.
In recent years, Bank Of China Limited(601988) Guangdong branch has continuously innovated financial products for Rural Revitalization. By the end of April, the balance of agriculture related loans of the bank had exceeded 130 billion yuan, with an increase of more than 14 billion yuan in the current year; Inclusive agriculture related loans exceeded 13 billion yuan, an increase of nearly 2.5 billion yuan over the previous year. Relevant loans involve infrastructure construction, agriculture, forestry, animal husbandry and fishery, circulation of agricultural and sideline products, agricultural science and technology, farmers’ consumption and other fields.
Guangdong Agricultural Financing Guarantee Co., Ltd. is a wholly state-owned policy financial enterprise in Guangdong Province. It is the only provincial policy guarantee platform focusing on agricultural credit guarantee business in Guangdong Province. Its business covers 20 prefectures and cities (except Shenzhen), 14 grain producing counties and 50 agricultural counties in the province. By the end of April, there were more than 20000 guaranteed loan projects of the Provincial Agricultural Bank, with an amount of 14.7 billion yuan.
