SFA and Agricultural Bank of China ink accord to promote forestry industry

BEIJING

The State Forestry Administration (SFA) and Agricultural Bank of China (ABC) signed the Cooperation Framework Agreement on Promoting the Development of Forestry Industry in Beijing. Mr. Zhao Shucong, Administrator of SFA, and Mr. Jiang Chaoliang, Chairman of ABC, attended the signing ceremony.

Mr. Jiang Chaoliang said that SFA, as the government authority in charge of China's forestry industry, plays a leading role in the industry's reform and development.

Particularly, by pushing forward the collective forest right system reform in recent years, the long-term obstacles in systems and mechanisms that severely constrain the industry's development have been removed. This has brought vigor and vitality to the industry, and effectively promoted the modern forestry development and ecological system construction. Forestry's roles and functions in the national economy and the social and ecological construction are becoming increasingly prominent.

ABC is a large modern stateowned commercial bank focusing on both urban and rural areas and featuring complete functions. For many years, relying on its funds, outlets, networks and professional advantages, it has supported a host of qual- ity customers with leading position in respective industries and accumulated extensive agriculture financial service experience.

After its joint-stock reform and listing, ABC has followed the national macro policies. It has made great efforts to promote the reform and development in financial services for Sannong (agriculture, rural areas and farmers), aiming to deliver higher quality financial services for the broadest customers.

The signing of the agreement is a major move of ABC and SFA to further implement the 12th Five-year Plan on national economic and social development and the strategic arrangement of the CPC Committee and the State Council for accelerating the forestry development. Also, this is a starting point of deeper collaboration between the two parties. Mr. Zhao Shucong said, the 12th Fiveyear Plan period is critical for China in building a moderately prosperous society, and also a period of important strategic opportunities for developing modern forestry, building ecological civilization and pushing forward scientific development.