OREANDA-NEWS. April 05, 2012. To provide service for leading enterprises in agriculture industrialization is an important way for Agricultural Bank of China Limited (ABC) to provide "Sannnong" (agriculture, rural areas and farmers) related services. In 2011, with the related credit support further enhanced, ABC extended a total of RMB239.8 billion credit to leading agriculture industrialization enterprises, and had a credit balance of RMB160.4 billion, up 15% and 17% respectively over the end of 2010, showing an overall trend of steady growth. It granted RMB155 billion new loans in the same year, remaining at a leading position as a financial service provider, reported the press-centre of ABC.

Leading enterprises is the key link of the industrialized operation of agriculture, playing a noticeable role in optimizing resource allocation, increasing agricultural added value and raising farmers' income. Based on thoroughly conducted survey and study and in accordance with regional economic, resource and ABC's local work, ABC put forward three service modes, namely "companies + farmer households", "companies + bases + farmer households" and "companies + specialized cooperatives + farmer households", and widely promoted the service method of "supporting one enterprise and driving one chain to help one industry flourish and one rural area prosper". Surrounding characteristic and advantageous agricultural industries such as forestry and fruit, sugar and medicinal materials, ABC supported leading enterprises to participate in rural property right system reform for management right over waste hills, unreclaimed lands and waste beaches and forest property right etc. to facilitate rural economic growth.

Back in 2010, ABC took the lead in large-scale state-owned commercial banks to launch the nationwide unified forestry property mortgage product. By the end of 2011, ABC has granted forestry property mortgage loans of RMB5.98 billion in total, helping accelerate the forestry industrialization in local areas.

In 2011, on the basis of the previous "Dragon Rising Program" on supporting leading agriculture industrialization enterprises, within the framework of the national "12th Five-year" plan, ABC formulated the Outline of "Agricultural Bank of China on Financial Services to Rural Industry for 2011-2015", where it envisioned the business development for the next five years, and clarified the development direction of "putting priority on supporting 1,000 national-level leading agriculture industrialization enterprises and exploring to support 100 national-level agricultural science and technology parks."

The Outline also pointed out that "by the end of 2015, ABC would focus on supporting 1,000 quality large-scale leading enterprises, achieve an addition of 1,000 provincial-level leading enterprises under its credit coverage and an addition of RMB100 billion credit balance, promote urbanization in 500 counties (cities), and continue to provide service for 300 industrial parks (provincial-level and above) in county areas". With taking into consideration on national distribution of leading enterprises and operation realities of ABC branches in various levels, ABC will put dynamic monitoring into practice to ensure these targets are realized as scheduled.