BEIJING, July 2 (Xinhua) -- The Agricultural Development Bank of China (ADBC), an agricultural policy bank, has granted 110.1 billion yuan worth of loans as of June 30 to support the development of a new type of urbanization, the Xinhua-run Shanghai Securities News reported on Wednesday.
According to the report, the outstanding loans issued to support the construction of new-type urbanization reached 689.1 billion yuan by June 30.
The bank noted that in the next half of this year, it will ramp up efforts to thoroughly implement the national plan for a new type of urbanization and continuously increase loans in this field with an aim to become the driving force for the development of the country's new-type urbanization.
Under the national plan, China has set a goal to help 100 million rural residents and people living in cities without an urban hukou settle down in cities and towns from 2014 to 2020.
(Edited by Yang Yifan with Xinhua Silk Road, email@example.com)