Agricultural Bank of China New York Branch officially launched operations after obtaining the regulatory permits last October. After its launch, the Branch has been dedicated to both local market and the domestic-foreign linkage business, proactively developed its business, successfully expanded numbers of high-end customers, effectively increased its asset and achieved financial break even for the first year.

Firstly, the Branch's product line has been gradually enriched and improved. Benifiting from full preparation, the Branch carries out comprehensive services which include: primary and secondary syndicated lans, import bill advance by overseas institution, per aval under import, loan secured by domestic branch, standby Letters of Credit, risk participation, bond investment, interbank loan and offshore RMB business.

Secondly, the Branch achieved a breakthrough in the local high-end customer market. It successfully marketed 5 top American companies of the World’s top 500. At the same time, the Branch actively explored the mode of “promoting domestic business via overseas development ", actively assisting ABC domestic branches in marketing American companies of the World’s top 500.

Thirdly,domestic foreign linkage business made rapidly progress. Related business with ABC Guangdong, Suzhou, Zhejiang, Shandong, Ningbo, and Xinjiang Branches have reached over $ 200million.

As of December 31, 2012, the total assets of New York branch had exceeded USD $1 billion. The Branch successfully achieved the financial break-even after only two months of operation.