Agricultural Bank of China : 2021 INTERIM REPORT2021-09-28

build a beautiful China

2021

INTERIM REPORT

(A joint stock company incorporated in the People's Republic of China with limited liability) Stock Code: 1288

Contents

Definitions		2
Basic Corporate Information and Major Financial Indicators	4
Discussion and Analysis	10
	Environment and Prospects	11
	Digital Transformation	12
	Financial Statement Analysis	13
	Business Review	29
	County Area Banking Business	54
	Risk Management and Internal Control	60
	Capital Management	74
Changes in Share Capital and Shareholdings of Substantial Shareholders	76
Details of Preference Shares	82
Directors, Supervisors and Senior Management	85
Environment and Social Responsibility	86
Significant Events	87
Appendix I	Capital Adequacy Ratio Information	94
Appendix II	Liquidity Coverage Ratio Information	112
Appendix III	Net Stable Funding Ratio Information	114
Appendix IV	Leverage Ratio Information	118
Appendix V	Interim Financial Information (Unaudited)	119
Appendix VI	Unreviewed Supplementary Financial Information	239

Interim Report 2021 1

Definitions

In this report, unless the context otherwise requires, the following terms shall have the meanings set out below:

1.	A Share(s)	Ordinary shares listed domestically which are subscribed and traded in
		Renminbi
2.	ABC/Agricultural Bank of China/	Agricultural Bank of China Limited, or Agricultural Bank of China
	the Bank/the Group/We	Limited and its subsidiaries
3.	CASs/PRC GAAP	The Accounting Standards for Enterprises promulgated on 15 February
		2006 by the Ministry of Finance of the People's Republic of China and
		other related rules and regulations subsequently issued
4.	CBIRC	China Banking and Insurance Regulatory Commission, or its
		predecessors, the former China Banking Regulatory Commission and/or
		the former China Insurance Regulatory Commission, where the context
		requires
5.	County Area(s)	The county-level regions (excluding the district-level areas in the
		cities) in the People's Republic of China and the areas under their
		administration, including counties and county-level cities
6.	County Area Banking Business	We provide customers in the County Areas with a broad range of
		financial services through our branch outlets located in counties and
		county-level cities (i.e. County Areas) in the People's Republic of
		China. We refer to such banking business as the County Area Banking
		Business or Sannong Banking Business
7.	County Area Banking Division	An internal division with management mechanism adopted by us for
		specialized operation of financial services provided to Sannong and the
		County Areas, as required under our restructuring into a joint stock
		limited liability company, which focuses on the County Area Banking
		Business with independence in aspects such as governance mechanism,
		operational decision making, financial accounting as well as incentive
		and constraint mechanism to a certain extent
8.	CSRC	China Securities Regulatory Commission
9.	Global Systemically Important Banks	Banks recognized as key players in the financial market with global
		features as announced by the Financial Stability Board
10.	H Share(s)	Shares listed on The Stock Exchange of Hong Kong Limited and
		subscribed and traded in Hong Kong Dollars, the nominal value of
		which are denominated in Renminbi
11.	Hong Kong Listing Rules	The Rules Governing the Listing of Securities on The Stock Exchange of
		Hong Kong Limited
12.	Hong Kong Stock Exchange	The Stock Exchange of Hong Kong Limited

2

Definitions

13.	Huijin	Central Huijin Investment Ltd.
14.	MOF	Ministry of Finance of the People's Republic of China
15.	PBOC	The People's Bank of China
16.	Sannong	Agriculture, rural areas and rural people
17.	SSF	National Council for Social Security Fund of the People's Republic of
		China

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