China’s Agricultural Loan Balance Grows 11.83% in 2021

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China saw robust growth in outstanding loans to the agricultural sector according to official data.

The agriculture-related loan balance stood at 43.21 trillion yuan as of the end of 2021, for growth of 11.83% compared to the start of that year, according to figures from the China Banking and Insurance Regulatory Commission (CBIRC).

The agriculture-related financial inclusion loan balance stood at 8.88 trillion yuan, for growth of 17.48% in 2021, outpacing average growth in all loans by 6.19 percentage points.

CBIRC data further indicates that as of the end of 2021 178 million households had taken out agricultural insurance, providing risk guarantees for 4.72 trillion yuan.