China's policy bank ups financial support for rural development

BEIJING -- The Agricultural Development Bank of China, a rural policy bank, has issued financial bonds worth 23 billion yuan ($3.25 billion) to shore up rural development.

The bonds include those designated for supporting the supply and price stability of grain and other important farm produce, according to the bank.

It has issued more than 15 trillion yuan of financial bonds in China since 2004.

As China's only agricultural policy bank, it has offered credit support to agriculture and rural areas, with a focus on key fields, weak links, and areas that have shaken off poverty, and facilitated the allocation of resources to rural areas.

In the next stage, the bank will offer more distinctive and diversified bond products in domestic and overseas capital markets to attract more investment in rural revitalization.