China's rural policy bank has strengthened its financial support to preparations for spring farming to alleviate the impact of a coronavirus epidemic.

As of February 10, a total of 12 billion yuan ($1.72 billion) of loans had been issued by the Agricultural Development Bank of China (ADBC) to ensure the sufficient supply of agricultural materials and smooth transportation.

Specifically, the bank allocated a total of 5.7 billion yuan ($0.82 billion) of loans to support fertilizer reserves between October 1, 2019 and February 10, while the rest supporting seeds, farming machines and high-standard farmland construction were issued from January 1 to February 10.

The ADBC, the third-largest bonds issuer at home, had raised 42.5 billion yuan ($6.09 billion) through bond issuance in late January. It has also imposed preferential interest rates for the borrowers involved in spring farming preparation in major epidemic-stricken areas to guarantee their production.