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China’s rural policy bank issues 13.2 bln yuan of bonds

Abstract : The Agricultural Development Bank of China (ADBC), a rural policy bank, launched 13.2 billion yuan (about 1.89 billion U.S. dollars) of bonds Monday.

BEIJING, July 13 (Xinhua) — The Agricultural Development Bank of China (ADBC), a rural policy bank, launched 13.2 billion yuan (about 1.89 billion U.S. dollars) of bonds Monday.

The three-year and five-year policy bank bonds, each worth 6.6 billion yuan, were issued through public bidding.

As the country’s third-largest issuer of bonds, the ADBC has issued bonds to combat COVID-19, facilitate work resumption, secure the supply of agricultural products and support hog production this year, stabilizing market expectations and boosting market confidence.

The ADBC, also the biggest issuer of bonds serving rural development, has issued bonds worth over 10 trillion yuan domestically since it made its first market-based bonds issuance in 2004.

The funds raised were used to support national food security, poverty alleviation, rural infrastructure construction and agricultural modernization, among other important areas. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s rural policy bank issues 13.2 bln yuan of bonds

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