China's only rural policy bank becomes leading bonds issuer

SHENZHEN: The Agricultural Development Bank of China (ADBC), the country's only rural policy-oriented bank, has become the third largest bonds issuer at home.

The bank is also the country's biggest issuer of bonds serving rural development, according to Qian Wenhui, governor of the ADBC.

Over eight trillion yuan (1.19 trillion US dollars) of bonds had been issued by the end of 2018, and the bonds stock exceeded four trillion, Qian said.

The ADBC made its first market-based bonds insurance in 2004.

1A variety of bonds products will be offered for domestic and overseas investors to attract more capital to support the development of rural areas, said Qian.