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Banks urged to lend more to farmers

China's banking regulator has urged lenders to increase credit and offer more innovative financial products to support the nation's farmers and the agriculture industry as part of the government's drive to sustain growth amid the global economic slump.

Local financial institutions should accept more forms of collateral and add more ATM machines and point-of-sale systems in rural areas, the China Banking Regulatory Commission said in a joint statement with the Ministry of Agriculture yesterday.


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