OREANDA-NEWS.  August 16, 2012. Shaanxi provincial government and Agricultural Bank of China Limited (ABC) signed a strategic cooperation memorandum on financial support for the rapid economic development of Shaanxi during the 12th Five-year Plan period in Xi’an. Mr. Zhao Leji, Secretary of the CPC Shaanxi Provincial Committee and Director of the Provincial People's Congress Standing Committee, and Mr. Jiang Chaoliang, Secretary of ABC Party Committee and Chairman of ABC, attended the signing ceremony. Mr. Zhao Zhengyong, Deputy Secretary of CPC Shaanxi Provincial Committee and Governor, and Mr. Zhang Yun, Deputy Secretary of ABC Party Committee, Vice Chairman and Presidentof ABC, signed the memorandum on behalf of the two parties. Mr. Lou Qinjian, Standing Committee Member of CPC Shaanxi Provincial Committee and Executive Vice Governor, Mr. Che Yingxin, Deputy Secretary of ABC Party Committee and Chairman of the Board of Supervisors, and Mr. Guo Haoda, ABC Party Committee Member and Vice President, attended the signing ceremony, reported the press-centre of ABC.

ABC has been dedicated to facilitating economic and social development of Shaanxi for years. Since December, 2008 when ABC signed a strategic cooperation memorandum with Shaanxi provincial government, ABC has input RMB184.6 billion of credit funds into key economic and social sectors such as energy, communications, high and new technology, education, science, culture, health, equipment manufacturing and city construction. It has greatly supported the rapid economic development in urban and rural areas of Shaanxi. With regard to Sannong (agriculture, rural areas and farmers), ABC has fully taped into its role as backbone of rural financial system, and actively provided quality and efficient financial services. Up to now, ABC has granted RMB33.4 billion of agriculture-related loans, issued 3.64 million Kins Farmer's Benefit Cards, and built 7,700 financial service stations for farmers, making great contribution to the development of modern agriculture, farmers’ income increase and a new socialist countryside construction in Shaanxi.

The 12th Five-year Plan period is a critical period for Shaanxi to build a comprehensive moderately prosperous society and be one of the powerful western provinces, which provides a great opportunity and larger space for the financial industry to better serve and support the province’s healthy economic development. The strategic cooperation memorandum signed between ABC and the Shaanxi provincial government is a specific action for ABC to implement the national Western Development Strategy, support the rapid economic development of Shaanxi during the 12th Five-year Plan period and build an economically powerful province in the west of China. Meanwhile, it’s also an important measure for the two parties to deepen their strategic cooperative relations and widen their cooperation areas.

According to the memorandum, by the end of the 12th Five-year Plan period, ABC will provide Shaanxi with a credit line of intent of not less than RMB150 billion to support dominant industries in Shaanxi, such as oil, coal, natural gas, equipment manufacturing, nonferrous metal, chemical machinery and high technology as well as power grid, water conservancy, communications, railway, airport, highway, public healthcare, city construction, culture & education, tourism, energy conservation and emission reduction. Meanwhile, ABC will further play its due role as backbone of rural financial system and enlarge credit input in Sannong, so as to drive the healthy and continuous economic development in Shaanxi.

Mr. Liu Xiaoyan, Standing Committee Member and Secretary-General of CPC Shaanxi Provincial Committee, Mr. Qin Zheng, Secretary General of Shaanxi provincial government, head of the People's Bank of China Xi’an Branch, head of the China Banking Regulatory Commission Shaanxi Branch, related department heads of ABC Head Office, and principals of ABC Shaanxi Branch attended the signing ceremony.