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Agricultural Bank of China (ABC)'s Chongqing branch announced on Nov 6 that they will provide more than 130 billion yuan ($19.6 billion) line of credit to support Liangjiang New Area's infrastructure construction and industry system.

Han Guoqiang, president of ABC's Chongqing branch said, "The cooperation aims to boost the overall development of Liangjiang New Area's emerging industries, advanced manufacturing and modern service industry and further develop Chongqing into the developing engine of central and western China."

Han said, "ABC will also support key investment-promotion projects in the area with all-round financing services."

Agricultural Bank of China's Chongqing branch and Liangjiang New Area achieve strategic cooperation on Nov 6. [Photo by Li Qian/liangjiang.gov.cn]

He added, "ABC's Chongqing branch will provide a batch of financing solutions for local companies from company briefings, settlement to construction."

In the past three years, ABC's Chongqing branch has invested a total of over 46 billion yuan to support local middle and small-sized enterprises.

Han said, "ABC's Chongqing branch had launched a series of customized financing service solutions for startups and technology innovation-oriented middle and small-sized enterprises."

Agricultural Bank of China's Chongqing branch and Liangjiang New Area achieve strategic cooperation on Nov 6. [Photo by Li Qian/liangjiang.gov.cn]

Liangjiang New Area issued four investment-promotion policies on Aug 8 to build it as a worldwide destination for investment and talents, covering advanced manufacturing, financing, headquarter economy and technology innovation.

Chen Lyuping, vice mayor of Chongqing, said that Liangjiang New Area has put investment introduction into a crucial position, and he hopes the two sides can deepen cooperation to realize mutual benefit and win-win results.

Up to now, there are 179 banks and branches settled in Liangjiang New Area.

Agricultural Bank of China branch in Chongqing. [Photo provided to chinadaily.com.cn]