Our Rural Bank in Liangping County is delivering affordable, safe and fair financial products to rural China and contributing to the growing success of local citrus farmers.
We were the first Australian bank to invest in rural China opening the Chongqing Liangping ANZ Rural Bank, in Liangping County, western China in 2009.
At the same time, we also launched what has become a highly successful industry development program for pomelo farmers. The program consists of a series of workshops to help farmers improve their farming practices and product marketing and promotion.
In the past year, the Liangping pomelo industry has experienced very strong growth with pomelo output doubling and the annual income of farmers increasing by around 30%. Our pomelo training initiative has been acknowledged by the local pomelo industry association, The Liangping Government Agriculture Committee, as contributing to this growth.
To date, more than 3000 farmers have participated in the program, attending seminars on subjects such as agricultural techniques, financial literacy, marketing and industry development. The topics covered in the workshops include practical information which farmers can apply directly in the planting and selling of pomelos.
Equipped with more skills and new ideas, our Rural Bank is now being approached by farmers wanting to explore new business opportunities such as the manufacture of value-added pomelo products and the provision of weekend farm experiences for urban residents.
Beyond the pomelo industry, ANZ’s Rural Bank is also providing much needed access to financial services and agribusiness expertise for broader industries such as aqua-culture, livestock, tea, medicine culture and silk warm production.
Liangping County has been identified by the Chongqing government and China Banking Regulatory Commission (CBRC) as a priority area for rural development and investment. It is home to 900,000 people, the vast majority of whom are rural residents.
In March, we announced further expansion of our banking services in western China with the opening of a new branch in the city of Chonqqing. Chongqing is undergoing rapid development and is emerging as a major financial centre in western China.
Our new branch in Chongqing will enable us to bring high quality financial solutions to commercial and institutional customers and leverage our relationships and super regional insight to support local corporate customers and global network clients doing business in western China.
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