ABC focuses on boosting international trade finance

The volume of international trade finance transactions conducted by ABC amounted to USD72.4 billion, representing a year-on-year increase of 94%. Its balance of trade finance transactions in domestic and foreign currencies was USD19.85 billion, up 51.7% over the beginning of the year.

Agricultural Bank of China Limited has actively taken a series of effective measures to promote the development of international trade finance, such as allocating dedicated scale and funds. It also encouraged transforming general working capital loans into trade finance loans while conducting dedicated management for trade finance scale and funds to check the trade finance scale in RMB and implement the lower limit management. By the end of September, the international trade finance loans both in domestic and foreign currencies accounted for 13.36% of short-term working capital loans, up 6.52 percentage points over the year beginning.

Additionally, as of the end of September, the volume of ABC's import trade finance transactions reached about USD55.1 billion, accounting for as much as 76% of its total international trade finance transactions.

ABC has launched cross-border RMB Rongyitong series products in accordance with the state's policies and customers' needs and plans to study and launch many other products like bulk commodity international trade finance and international accounts receivable pool financing. At present, ABC has established a complete trade finance product system covering import and export trade, cross-border RMB trade, domestic and overseas linkage trade and domestic trade, etc.

As of the end of September, ABC's international trade finance reported a non-performing ratio of only 0.42%, down 0.21 percentage point over the year beginning.