21.5 Billion Yuan of Loans Issued by Agricultural Bank of China Found Violating Regulations

The Agricultural Bank of China (ABC) has issued loans worth 4.797 billion yuan to enterprises that do not conform to China's industrial policies and some of the credit it has given has even flowed into the stock market, the National Audit Office states on its official website. It also states, 21.5 billion of the loans issued by the ABC in 2008 were not used to promote the development of the agricultural industry or rural areas nor did they lift the income of farmers.