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Representatives from Jiaxing and the Zhejiang provincial branch of the Agricultural Bank of China sign a strategic cooperation agreement on Feb 16. [Photo/WeChat account: jxfabu]

Jiaxing in East China's Zhejiang province inked a strategic cooperation agreement with the Zhejiang provincial branch of the Agricultural Bank of China on Feb 16.

The two sides will cooperate to construct infrastructure and industrial platforms as well as cultivate sci-tech companies.

On the same day, ABC's Jiaxing branch granted a loan of 68.8 billion yuan ($10.88 billion) to 19 local companies. Over the following five years, the Zhejiang provincial branch of ABC is expected to offer 500 billion yuan in financing to support Jiaxing's economic and future development.

In 2021, the total output of industries above designated size in Jiaxing exceeded 1.3 trillion yuan, and the added value of its industries above designated size totaled 259.4 billion yuan, both ranking third in the province.

These achievements are partly attributable to the efforts of ABC's branches in Zhejiang. In January last year, the Jiaxing branch rolled out 26 financial measures to offer assistance in real economy, rural revitalization, and green finance.