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Milestones of ABC

July 10, 1951
Agricultural Cooperative Bank, predecessor of Agricultural Bank of China (ABC), was established. As a specialized subsidiary bank of the PBOC, it assumed the function of providing financial services for the recovery and development of rural economy of China. In July 1952, it merged with the PBOC with its functions incorporating into the latter.
March ,1955
Based on the requirements to provide credit support for agricultural cooperative, it was officially established as the name of “Agricultural Bank of China”. In April 1957, it merged with the PBOC again.
November, 1963
To manage the state funds allocated to support and lend for agricultural purposes, ABC was established again as a financial institution operated directly under the State Council. However, in November 1965, it merged with the PBOC for the third time.
February 23, 1979
The State Council issued the Notice on the Reestablishment of Agricultural Bank of China. Therefore, ABC was established for the fourth time.
June 1, 1984
ABC introduced the first loan from the World Bank.
June 24, 1985
ABC unified the character style of its name for the first time.
June 25, 1985
The Central Government decided to set up the Party Committee of ABC
December, 1993
The State Council expressly determined to transfer ABC into a state-owned commercial bank. ABC started its transfer into a state-owned commercial bank.
April, 1994
ABC transferred most of its policy-related banking business to newly founded Agricultural Development Bank of China.
August, 1996
Based on the Decision of the State Council on the Reform in Rural Financial System, ABC no longer managed rural credit cooperatives and the administrative relations between ABC and rural credit cooperatives were severed.
July, 1999
ABC transferred its non-performing assets to China Great Wall Asset Management Corporation.
ABC submitted the joint stock reform plan.
January, 2007
It was proposed at the Third National Financial Conference that ABC would cater to the needs of Sannong, undertake an integrated restructuring, implement commercially-driven operations and go public at an appropriate time. This heralded its new era of joint stock reform.
September, 2007
ABC launched a pilot project to develop financial services for serving Sannong in eight provinces (districts and cities) including Jilin, Anhui, Fujian, Hunan, Guangxi, Sichuan, Gansu and Chongqing.
January 23, 2008
ABC explicitly put forward “3510” goal and development strategy.
March, 2008
ABC launched the pilot program for County Area banking division reform in 11 tier-2 branches in six provinces.
August, 2008
The Head Office of ABC set up the County Area banking division to press forward bank-wide County Area banking division reform.
October, 2008
The executive meeting of the State Council reviewed and adopted in principle the Overall Implementation Plan on the Joint Stock Reform of Agricultural Bank of China. ABC’s joint stock reform was pushed forward.
November, 2008
Central Huijin Investment Ltd. invested into ABC and together with the Ministry of Finance became the first majority shareholders of ABC.
January 15, 2009
Agricultural Bank of China Limited was established.
April, 2010
ABC launched its IPO.
July, 2010
ABC successfully listed A shares and H Shares on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, respectively, and its IPO became the largest ever at the time.