China's rural bank issues US$247 billion of bonds in 2022

The Agricultural Development Bank of China (ADBC), a rural policy bank, issued about 1.67 trillion yuan (US$247 billion) of bonds in China in 2022.

Last year, its annual bond issuance exceeded US$0.15 trillion for eight consecutive years, according to the bank.

In 2023, the bank will continue to fulfil its duties and mission in promoting the development of agriculture and rural areas and supporting rural residents, said Sun Lansheng, vice president of the bank.

The bank issued 2.14 trillion yuan of loans in the first three quarters of this year, up US$55.13 billion, year on year.

Established in 1994, the ADBC is the only agricultural policy bank in China under the direct leadership of the State Council, which is the country's Cabinet.