BEIJING, July 1 (Xinhua) -- Agricultural Development Bank of China (ADBC) lowered service fees for 14 items and canceled fees for another 12 items in a bid to alleviate financial burdens on companies and support the real economy.

(Photo: VCG)

After the adjustment, the bank now charges for 97 service items, down from 109 items.

The bank has cut its service fees by more than 2.7 billion yuan (about 392 million US dollars) since 2015.

The lender, a policy bank under the People's Bank of China, is responsible for funding projects related to China's agricultural development.