OREANDA-NEWS. March 21, 2011. In recent years, Agricultural Bank of China Limited (ABC) has actively provided credit support to the construction of government-subsidized housing across the country to respond to the state policy. Since 2008, ABC has granted total loans of RMB12.6 billion for the development of various government-subsidized housing, involving more than 160 projects, which has strongly supported the government-subsidized housing construction, represented the unity of social and economic benefits. In 2010, ABC granted loans of RMB4.4 billion in total for government-subsidized housing development. At the end of 2010, the balance of such loans stood at RMB9.77 billion, supporting 63 government-subsidized housing projects, with a total floor area of 5,020,000m?, reported the press-centre of ABC.

Government-subsidized housing project is an important state policy to alleviate housing difficulties of urban low-income families, improve people's living standards and stabilize the real estate market. For commercial banks, to support the government-subsidized housing construction can not only broaden their credit fields, but also embody their performance of social responsibilities.

Therefore, ABC highly values the credit business with regard to government-subsidized housing, and focuses on the government-subsidized housing projects that are subject to market-oriented operation and can bring both social and economic benefits.

In 2011, 10 million government-subsidized houses are expected to be constructed, involving more than RMB1.3 trillion construction funds which is estimated by the Ministry of Housing and Urban-Rural Development. ABC will keep close watch on relevant policies to intensify its efforts in supporting the construction of government-subsidized housing, while shift its priority to quality projects. It will focus on the projects developed by enterprises with strong economic strength and with complete legal procedures. In light of the various construction modes of government-subsidized houses, ABC will endeavor to improve the mechanism and product system to better meet market demands, and adopt more effective management measures to achieve sound development under controllable risks.