The Pingtan Comprehensive Pilot Zone, Fujian province will get a credit line of 30 billion yuan ($4.5 billion) from the Fujian branch of the Agricultural Development Bank of China (ADBC), as per a cooperation agreement they signed on Jan 5.

An official present at the signing ceremony told that the fund will be used for the zone's agriculture-related projects such as infrastructure construction and logistics.

The cooperation between the two parties can trace back to Dec 15, 2010, when the bank granted Pingtan two medium and long-term loans worth 870 million yuan. The loans were used for the zone's new village project, added the official.

Established in 1994, ADBC is a wholly State-owned agricultural policy bank in China. It focuses on providing financial support for agricultural and rural development.