AgBank signs cooperation agreement with leading Chinese property developer

Will promote mutual development and long-term cooperation.

The Agricultural Bank of China through its Xiaoshan Branch will extend a US$653 million credit line to Zhong An Real Estate Ltd, an investment holding company principally engaged in property development, leasing and hotel operation.

AgBank, one of China’s Big Four state-owned banks, will provide Zhong An with key support in respect to capital, settlement and financial services, including overall credit service.

Zhong An’s geographic focus is on the Yangtze River Delta Region and the future development core of the city. Zhong An chairman Shi Kancheng said the company believes that Agricultural Bank of China's credit line will provide a more adequate financial foundation for their steady development.