Jan. 29, 2007 (China Knowledge) – Agricultural Development Bank of China, one of the Mainland's three state policy banks, announced a 62% increase in operating profit which was boosted by lending to finance food purchases and loans to manufacturers.

President Zheng Hui said on the company's website that profit rose to RMB 8.8 billion last year from RMB 5.4 billion in 2005. He added that lending to the government to buy food, cotton and oilseed increased by 25% to RMB 250 billion, while loans to top rural manufacturers more than doubled to RMB 82.5 billion.

Looking forward, Agricultural Development Bank of China is aiming for operating profit of more than RMB 10 billion this year.