ABC banks on boom in rural economy

CHONGQING - The fortunes of Agricultural Bank of China (ABC) - the country's biggest rural lender - are becoming increasingly associated with the booming county-level economy of inland China.

That is because economic growth in rural areas is gaining momentum as accelerating urbanization sees villages expand to become towns, and towns become cities.

That phenomenon was part of the sales pitch the bank employed to attract investors to its record-breaking IPO in July. It also means the lender is better-positioned to achieve profit growth.