BEIJING:China Development Bank, one of the country’s official banks, increased its financial support for high standard farmland cultivation every six months.
Lenders provided RMB 4.3 billion (approximately US$ 596.77 million).
At that time, the loan was given to support the cultivation of high-quality agricultural crops and agricultural infrastructure in Jilin, Jiangsu, Sichuan, Guangxi, Ningxia and elsewhere.
The bank has earmarked a total of 23.5 billion yuan for rice cultivation by the end of June, which will help plant 4.25 million mu (about 283.333 hectares) of rice throughout the country.
The central bank said it will continue to play a role in financial development, support agricultural development and implement better credit policies for cultivation.
The Development Bank of China was established in 1994 to finance major national projects and development strategies.
