China Agricultural Development Bank
As the largest specialized development bank in China, the China Agricultural Development Bank (CADB) is a crucial part of the Chinese financial system, providing financing and credit services to rural and agricultural entities. The bank was established in 2004 by the formal establishment of the State Council, the Ministry of Agriculture and the Peoples Bank of China. The bank is responsible for providing agricultural credit, credit for reducing agricultural taxes and fees, as well as for agricultural product processing and agricultural service projects.
The mission of the bank is to support the development of agriculture in China as well as the development of rural areas. Specifically, it provides a variety of services including investment loans, agricultural infrastructure construction loan, agricultural credit product loan, agricultural insurance policy loan, agricultural product processing and agricultural service project loan and rural credit network loan. It also provides agricultural tax relief and land reform loans.
CADB also plays an important role in the promotion of modern agricultural production, the development of various technologies, agricultural science, and research and development. Through its policy and other measures, it provides a long-term stable source of financing for agricultural enterprises, rural enterprises and farmers and promotes agricultural industrialization, economic and social development.
The CADB boasts a success record of over 90% payback rate in loan repayments and a low loan delinquency rate. It has implemented the policy of both intermediate credit and word-of-mouth credit in rural and agricultural credit operations, which has proved effective in improving the villagers awareness of credit and the credit rate of rural residents. The bank also has a wide variety of products tailored to suit the needs of farmers and agricultural enterprises and offers loans with lower interest rates to safeguard the income of farmers and rural residents.
As the largest agricultural development bank in the world, the CADB has an important influence in the development of rural communities, agricultural industry, and agricultural technology in China. It has developed into an influential and significant player in the Chinese banking system and plays a key role in the financial services and financing of rural and agricultural entities. As the bank continues to evolve and innovate, it is certain to continue to provide invaluable services and financial assistance to millions of Chinese farmers and rural communities in the years to come.
