AGRICULTURAL BANK OF CHINA(SH:601288) Jin Rong Shi Bao·2025-11-17 02:01Core Viewpoint - The construction of a key elderly care project in Wenzhou, Zhejiang Province, is progressing smoothly, supported by a 300 million yuan loan from Agricultural Bank of China, aimed at enhancing the regional elderly care service system [1][2] Group 1: Project Overview - The project is the first comprehensive elderly care facility in Zhejiang Province, integrating medical care, smart elderly services, and rehabilitation nursing [1] - It aims to serve as a regional elderly care center for southern Zhejiang and northern Fujian, addressing the significant gap in elderly care resources in the area [1][2] - The first phase of the project includes various service centers and has already seen the completion of most buildings, except for the elderly hospital [1] Group 2: Financial Support - Agricultural Bank of China has established a special team to facilitate the project, providing a total credit of 4.972 billion yuan, with 333 million yuan already disbursed at a lower-than-average interest rate [1][2] - The project is recognized as the largest single loan for the elderly care industry since the introduction of a new re-lending policy by the People's Bank of China [2][3] Group 3: Policy Impact - The re-lending policy aims to stimulate financial support for the elderly care sector and related service industries, with a total of 500 billion yuan allocated for this purpose [2][3] - As of mid-September, financial institutions have reported nearly 60 billion yuan in applications for service consumption and elderly care re-lending, involving around 4,000 entities [3] Group 4: Broader Economic Implications - The policy not only focuses on economic growth but also aims to enhance social welfare, improve service quality, and create job opportunities [5] - The integration of the elderly care project with rural revitalization efforts is expected to boost local tourism and agricultural economies [2][3]