Autumn Grain Purchase Funding Fully Guaranteed by ADBC

Since the full launch of this year's autumn grain purchase, the Agricultural Development Bank of China has unswervingly implemented the national grain purchase and storage policy, fully given play to its function as an agricultural policy bank, and made every effort to guarantee the supply of grain purchase funds. From October 1 to November 30, it cumulatively issued 122.6 billion yuan in purchase loans for autumn grain varieties such as mid-to-late indica rice, japonica rice, corn and soybeans, 45.6 billion yuan more than the same period last year; it supported enterprises in purchasing 90.6 billion jin of grain, 32.6 billion jin more than the same period last year.

This year, the government-supported price purchase of mid-to-late rice was launched on a large scale in China's main grain-producing areas, and the temporary storage of corn was also launched on November 1 in the four northeastern provinces and regions. It is reported that among the 122.6 billion yuan in autumn grain purchase loans, mid-to-late indica rice purchase loans were 19.126 billion yuan, supporting enterprises in purchasing 14.787 billion jin of mid-to-late indica rice, 2.553 billion yuan less issued and 3.685 billion jin less purchased than the same period last year; japonica rice purchase loans were 46.046 billion yuan, supporting enterprises in purchasing 25.599 billion jin of japonica rice, 8.092 billion yuan more issued and 3.823 billion jin more purchased than the same period last year; corn purchase loans were 56.638 billion yuan, supporting enterprises in purchasing 49.11 billion jin of corn, 39.846 billion yuan more issued and 32.054 billion jin more purchased than the same period last year; soybean purchase loans were 758 million yuan, supporting enterprises in purchasing 1.156 billion jin of soybeans, 242 million yuan more issued and 417 million jin more purchased than the same period last year.

From the perspective of the nature of the loans, with the large-scale launch of government-supported price purchases, the policy-based purchase loans issued by ADBC this year have shown a trend of substantial increase, while market-based purchase loans have relatively declined. Next, ADBC will continue to adhere to serving the national strategy of stabilizing growth, actively adapt to market changes, strengthen credit risk prevention, and make every effort to ensure the supply of funds for autumn grain purchase.