Ladies and gentlemen, good afternoon. I am the Board Secretary Han Guoqiang from ABC. Today, we are very happy to have so many investors, analysts, and friends from media to attend Agricultural Bank of China 2022 annual results announcement. Particularly after over 10 years, once again, we are seeing friends in Hong Kong once again, and it is a great pleasure to all of us. Therefore, thank you very much for your coming. I must thank you as well for your support in the past period of time. Thank you very much. We have a venue in Beijing and another venue in Hong Kong. Meanwhile, we are also streaming the result announcement globally. According to our statistics, in Beijing venue, we have 52 participants, and in Hong Kong, we have 30 participants.
Meanwhile, in addition to all those participants on site, we have participants online as well through three platforms, and we have a very active participants joining us online already. I would like to introduce part of the directors of the board as well as management to you first. They are Vice Chair, Executive Director, President of the bank, Mr. Fu Wanjun . Executive Director, Vice President, Mr. Zhang Xuguang . Vice President, Mr. Liu Jiawang . Independent Director, Mr. Huang Zhenzhong. Investment Director, Mr. Zhang Lijun. General Manager of Finance and Accounting, Mr. Liu Shidong. Key Manager from Credit Management Department, Mr. Xu Han .
We also have Liao Luming , Zhang Qi, two directors to join us at Hong Kong venue for the result announcement today. Shall we enter into the first part of the result announcement? Mr. Fu Wanjun from ABC will share with you our business performance of Agricultural Bank of China. Thank you.
Dear investors, friends from media, and analysts, good afternoon. Thank you for your coming to our 2020 annual results announcement. On behalf of the management, I would like to report to you on our business performance in 2022 from eight aspects. In 2022, we carried out the strategies under the deployment from the central government and provide services to our economy as well as our citizens, who while we also innovated and build our business. We stick to our bottom line and risk management. In this process, we made a new step forward. First of all, our KPIs. We realized has stabilized our KPIs.
Net profit, operations in revenue and net interest income as the fee income increased by 6.9%, 7.7% and 0.2% respectively. Total assets is RMB 3.39 trillion. Loan increase is from RMB 4.9 trillion, up by 13.1%. The balance is a RMB 15.8 trillion. The loan increased by RMB 1.3 trillion, with a total increase in balance. The total loan also increased by RMB 4.2 trillion or 17.7%, and with a total balance of RMB 18.2 trillion. For the corporate customers, the total savings is RMB 9 trillion, up by RMB 1.3 trillion. Individual customers, the RMB 15 trillion increased by over RMB 2 trillion. Both for them has also high.
In terms of the serving the real economy, we also provided support to the building new industries. The loan to manufacturing was RMB 2.0 trillion, up by 38.8%. The manufacturing mix to long-term loan increased by 52.8%. For the emerging industries, the total loan is RMB 1.3242 trillion, also increased a lot. With the increase is 44.6%. Now, we also provided implemented system, a service system to the innovative revenues. Over two-thirds of the space owners in more time to businesses, we started our index cooperation and supporting the corporate business growth. The loan balance is RMB 3.4 trillion, up by over RMB 574 billion. The green loan is RMB 2.3 trillion, up by over RMB 70 trillion.
Also our rating was increased to A grade, among the highest grade of all banks in China. We also expanded our support of international mode. Of course, for the R&D settlement and the international service, settlement, as well as the loans that to the customers increased by 3%, 9.4% and over 20%. We made another step forward in by providing the country's increase, and we also increased by CNY 1.3 trillion in the loans, increased by 17.9%. We provided support to the food production and for the food industry. In this industry will also result in 22.5% and 81.7% respectively, high above the average percentages. The affairs also had to work the stabilization of our China.
We provided support to the new industries in the agricultural sector. We have 22.4% of our loans for the village areas, providing good support to. By providing all around financial services. We also have to work at the building for this, for new villages where we saw a 21.6% growth in loans. In terms of expanding our domestic consumption in the three consecutive years, it was leading ahead of others. With over RMB 1,028 billion into the individual mortgages, the increase was also ahead of others by over RMB 100 billion, and this informed a RMB 3.5 trillion. For the individual consumers, there was also a certain RMB 83.9 billion increase.
For the credit cards, we are also delivering a very good result. For the balance of the loans, was over CNY 677 billion. In terms of the real estate, there was also progress. We provided active support to local government in delivering the properties as scheduled to guarantee the people's livelihood. We provided support to over 177 projects. We support the good corporate development developers. For the real estate development alone, the total total input of this also exceeded CNY 200 billion to provide a road to the assured housing programs. In the total increase also exceeded CNY 50 billion, leading ahead of others. In terms of digitalization, we also made progress, and so we enhanced our capability in providing services online.
We enjoyed a 42.3% of our growth in the loan, and the digitalization went to a higher level. Online banking users also increased a lot by over 90 million users also leading ahead of other banks. Digitalization has gone deeper. Through our fine targeted marketing, the conversion of our micro businesses also exceeded over 13%. We also enhanced our profitability internally and stick to the capital conservation path. Meanwhile, the risk weighted average assets decreased by 2.86 percentage points. Our CER increased by 7 percentage points, which is 17.2%. The three in-depth approving procedures of our credit NPL ratio decreased by 0.045% to 4.92%.
We kept optimizing operations and maintain the stable revenue. In terms of our asset quality, it has been improving over time, and the NPL was 1.317%, down by 0.06%. The asset quality is also maintained a very good level compared with other banks. For the risk indicators, we also improvement for the special lending assets down by 0.02%. For the overdue loan is 0.08%, this was a similar level at the beginning of the year. Though was stronger than before in terms of our risk management and provision, which is 302.6%.
As a next step, we will continue implementing the decisions from the central government and implement our philosophy of a new growth to realize the high quality growth as the core of our work. Meanwhile, we will also deepen into rejuvenating the villages and providing services to real economy. Meanwhile, we will keep optimizing our financial services and try our best to contribute more fair to the modernization of the country. Thank you very much. Thank you, Mr. Vice President. Mr. Fu. Thank you, Mr. President.
Just now, Mr. Fu, president of the bank, shared with you our business performances from the different indicators where you can see his overall highs, and we'll also elaborate it and demonstrate it our accountability in providing the so real economy and also much progress in expanding the domestic consumption, as well as the new progress in the property.
Property development sector. Our driving force was even bigger, and our assets quality is also improving year- by- year. These are three aspects you can see they have delivered very good results. Also to share with you guys, our, the outlook for the next coming years. Now I would like to open the floor for questions. Since we have participants in Hong Kong and in Beijing, We'll take questions alternatively from Beijing and Shanghai. For the interest of the two venues, we will allow one person for each investor, media or analyst. Please identify yourself before you ask the question. Now shall we invite the first question? The first question will be from Beijing.
The next one, it will be from Hong Kong, since we have the two venues, and we will take questions by taking turns from these two venues. The first question will be from Beijing venue. I can see three areas, the left, the middle and right. The first one is the middle area. The gentleman to the left. I'm Ian from the Beijing. Thank you very much for your presentation. Now I have a question for you. Looking at the data, your business performance was very good last year, and your revenue growth. What will be the highlight for your cost of revenue this year? What will be the driving forces for this year? Thank you. Thank you very much for this question. Mr. Fu, please allocate this question. I will take this question.
First of all, thank you for your question. In terms of I will say that we implemented the decisions and the strategy from the central government very seriously, and provided support to the real economy in the country, and providing the balanced support to the real economy and manage our risk as well as maintain the very good growth in our business. I must say that our business performance delivered a very satisfying report. For example, as I mentioned earlier in my presentation. Actually, in terms of our savings, deposits, and loans, we have been leading ahead of others. Our business performance has been very good last year. In 2022, we realized net profit.
CNY 258.7 billion, up by 8.9% revenue, and also increased by 0.7%, reaching over CNY 790 net billion. You may want to know what about the trend of growth this year from the first two months of this year. From, because of APR as well as the recovery of the market. You can see there will be a delay in our performance after the recovery of the market. Looking to run this year, our revenue will, also based on our performance as well as our judgment on the trending in the industry, we will maintain a consistent delivery in our profit and revenue. For example, in the mortgage services, so we enjoyed over 40%.
That were repriced on the first of January this year. This trend is in line with the other trends in the whole industry. Looking to the full year, our economic running is estimated to be rebounding. We think that this year for the whole banking industry, we will face with a more favorable economic environment for us. Therefore, we will capture the opportunities actively in the market brought by the recovery as well as the consumer recovery in consumption. We will also look at our own operations processes and take different measures in order to expand our sources of revenue. Meanwhile, we will also maintain the very healthy revenue performance to reward our shareholders.
Looking at the governing forces, first, in terms of the size of our assets, we will continue expanding our support to the real economy and maintain the steady growth in the loans and the assets. We'll also maintain stable growth in the interest of our digital operations. In terms of our operation structure, we will also increase the percentages of credit as well as the high interest bearing assets, particularly for the individual loans. As I mentioned earlier, because of the repricing for assets as well as other factors, it is estimated that the interest margin in Q1 will continue to decline, which is in line with the overall industry.
Along with the recovery of the economic situation in China as well as more consumption in the market, we estimate that the declining pace will be slowing down and then get stabilized. We will work hard to maintain our NIM at a reasonable range. Thirdly, in terms of interest bearing income, we will put our customers in the first place. For the corporate customers, we will keep improving our capability in providing overall and comprehensive financial services to them. As for the retail end, at the different cycles, we allocate different and very diversified products to increase the revenue from wealth management services. We will also play a big role in because we have multiple licenses, and so that we can promote the steady growth in the fee income and other incomes.
Meanwhile, we will also deal with the fluctuations in prices as well in order to increase, improve the stability and the distribution of the non-interest development. In terms of provision and the results, we will manage to run as well to cautiously limit provisions. Meanwhile, we will also cleanse NPLs well. I believe that the credit cards for this year will be maintained at a stable level. Thank you. Thank you very much. The second question will be from Hong Kong again. The gentleman in the first row to the right. Good afternoon, Ms. Ning. From UBS Securities . We noticed that your credit increase has been very fast in last year. I just want to know in general this year, what is the growth in the credit growth?
Was it in the high speed as well? Far, what have seen. How do you compare the demands for credit this year versus last year? What is your total incremental volume of credit this year and what will be the pace? Thank you. Mr. Fu, please allocate the question. Mr. Zhang Xuguang or President Zhang will take this question. Thank you.
Thank you for your question first. I'm very happy that you have noticed that the increase of our facilities and we enjoy the highest speed among the top four. Last year, there was increase of CNY 4.6 trillion, which is also a historic high, also a leading other banks in the industry.
First of all, in our macro economy, we saw very positive changes, and in terms of the production as well as the consumption with the favorable signs. PMI indicator has been above last year prosperity line, and there is a 2.5 percentage points up. This means that they're very favorable and a constructive environment for us. Therefore, in terms of, like, the facilities and the credit, so it is also a favorable news. From the general February, in our projects pipeline, that means we already approved and not yet put open. There is a 6.2% of increase. Because of formerly demands in the first two months, we issued the historical high total loans.
As at the end of February, our loans in combination increased by over CNY 200 billion and reaching over CNY 998 billion. This is a very fast growth as well. This year, we believe that the growth will be maintained. Manufacturing, green industry and emerging industry are usually the major areas of such loans. Looking to the whole year, we will continue optimizing our supplies and providing more support to the agriculture, to relevant industries. The total granting of loans will be maintained at an active and a stable growth. In terms of a total amount, first of all, it will be dependent on the economic demands, and also we have to look at our own capability, money risk. Such a growth will be maintained at stable level.
In terms of the pace, we support our economy proactively and control the pace of granting proactively in order to satisfy the demands of all facilities. For the facilities, for the infrastructure as well as the tech industry, advanced tech, advanced manufacturing and green areas, we will also promote support to the individuals as they recover to support the economic growth. Thank you. Thank you, Mr. Zhang. The third question. Raising the hand, please. The next question is from the right area, the third row, the lady in the third row, right area. Thank you, management, for this opportunity. I'm Lin Yi from CSCI. Just now you talked about mortgage. I just want to know more about mortgage. Last year, after the policy of dynamically managing the mortgage interest rates, what are the new changes?
Second question, people talking about paying back the mortgages earlier. How do you think about this as it is a common concern? The third question, what do you think about the demands for mortgages and what is your reserve projects? How do you arrange the total, the issuance of mortgages throughout the year? Thank you. Mr. Fu, please allocate the question. This question will be taken by President Zhang. Thank you. We're so happy to answer your this question again. We have been supporting the satisfy the needs of mortgages, particularly for those with the demands. The total balance of our mortgages is RMB 5.35 trillion. There is a slight increase. This has been leading ahead of other banks in the industry.
Along with the recovery for the property market, translate the mortgage bond is also improving. Looking at our own reserves, you can see that as of the end of February, our reserves of individual mortgages that is approved but not yet issued, is over CNY 4.4 trillion million. There was a 57% increase of payback of mortgages every month. This is also very high Speed of growth. Of course, because of the dynamic mortgage interest interest rate adjustment policy, we have seen that there is a slight decrease. From last May, in all the banks, we saw a decline of individual mortgages. Compared with other banks, our situation is similar to them.
I think the reason people have looked into it and have a different analysis, of course, people may have a different financial plans. Of course, there is your decline. There was a decline last year as well as the interest rate changes in the industry. The reason is that from the macro picture, we saw several times, and we will follow the government's policy of stabilizing land price and the real estate prices to facilitate the healthy growth in the property industry. We will stick to the positioning of houses are for living, not for speculation. We also provide the support to those who have a rigid demand for improvement of their housing.
In some of the price cutting areas, we would also consider the people who have demands there, and provide each our mortgage support to them. Meanwhile, we also offer more support to young people as well as the new citizens to provide support, and for them to live stable and better life there. Thank you, Mr. Zhang. Next question will be from Hong Kong Ali. Could you repeat the first word, please? Good afternoon, management. I'm from Ming Pao. Last year and this year, last year we saw a decline is because of the APR was lower. The actual rate is at the adequate ratio. How do you think about APR this year? Do you think it will go down further? What do you think about the pressure to NIM? Do you think there will be a decrease in NIM?
Also you mentioned earlier, you hope to maintain NIM at a adequate level. Does it mean that there will be further pressure of a downgoing trend in the market? In terms of the long-term facilities that you have in the industry, how do you think about the increase in the past few months in the year? Thank you. Thank you for your question. Mr. Fu, please allocate the question. I will take this question. As you all know that real economy is the fundamental part for all banks. If you want to make all the businesses prosperous, you have to must make the real economy prosperous first. If you want to stabilize your business in bank, you have to stabilize the business in the industry as well.
That's why we saw a decline in NIM last year. In 2022, our NIM was 1.19%. Compared with the 2021, there was a decline. Compared with the other trends in the industry, we maintained a similar one. The decrease in NIM was caused by several factors. I think for us there are two influences. Number one, in terms of our financing cost, is to reduce the financing cost and help to stabilize the economy. LPR was lowered down to two last year. Because of the convenience of economy of LPR, therefore our interest income from our loans also decreased by 14%. The second one is about. It's because of the negative interest impact. Therefore our interest bearing ratio also went up.
This year, based on the economic trends, we enhanced our main proactive management and the focus among the accuracy and the effectiveness in providing support to real economy. Overall, we estimate that in 2023, our NIM will face with some pressure for downgoing as well. However, the decrease will be much more relaxed from the asset side because of the lowered APR as well as repricing amount that this influence was reflected partly last year and a lot of others will be reflected in 2023. In the short run, the interest income from loans will continue to go down. This is also in line with the overall trend in the industry.
Since the beginning of the year, along with the recovery of our economic performance in the country, the financing demands from real economy was better and therefore we captured this opportunity. As a good level of time and adjusted more maturity for the granting loans. Currently, the newly issued grants, everything good. From the liability side, just because of the IDR, now it is releasing its efficiency and its impact. Therefore, we also managed our own credit, our operations. Last year, for 2 x we lowered our savings interest rate and therefore the pressure of our savings and deposits was further reduced. As a step next forward, we will keep optimizing our assets reliability structure and maintain our NIM performance.
After that, we can maintain our contribution to stabilize the growth of the real economy. We will focus on the following areas. One, in terms of the asset side, we will continue play our role as a pillar, as a state-owned deal bank. We will capture the opportunity in the market and also consider the changes of credit and the demand by further optimizing our own credit structure while managing the pace of the loan granting process better. Meanwhile, we also realize that the improvement in terms of improving the quality, price and the risk. We also control the pace well in order to realize that the value creation through the year.
In terms of the liability side, we will deepen our optimization and improve our own capabilities of serving new customers, as well as our delivery of our customer acquisition. Meanwhile, we also keep improving and realize it's never growth in our different settings and in the developers. Thirdly, we will manage the duration of our different debts so that improve the overall income performance. Number four, we also optimize the pricing strategy risk under risk policies as well as the ocean policies to deliver a differentiated performance in our products to refine our management and the customers in order to further relieve the pressure from the NPL. Just now you asked about the loans for the property segment.
Looking at the performance in the first quarter, we have already felt that for the individual mortgage customers, we saw a recovery in the demand. In the market, the total volume can show this. As the next step, we will go on sticking to our own policy and provide the financial support through our services such as the property segment. Thank you. Next question will be from the News. The third thing we want to build to... Translater, please. Thank you. Good afternoon, management. I'm Shi Ye from the First Finance. Last year, your central government gave you the issue of this system rules and for ABC in terms of providing financial services. What specific pressures did you have under this new property market and the overall NPI? How do you think about this?
Thank you. Mr. Fu, please answer the question. Mr. Liu Xiaowang will take this question. Thank you. Thank you for your question. Regarding property industry, our overall positioning is to stick to the principle of houses are for living, not for speculation. We will also around follow closely the market by stabilizing the land price as the property price and the expectation in order to facilitate a stable and a healthy growth in the industry and to promote the whole property industry to transform to new models. You asked about ABC, about our services to the property market.
My answer is, for the loans for corporate customers, last year, we realized the steady growth, and throughout of the year, our total loans issued was over CNY 23 million, and a lot of them are for the insurance housing. In this indicator, we are ahead of others. Meanwhile, we also support the growth of the buying and the leasing market. The growth stage is over 50%. Secondly, by region, we focus more on the regions of where there's a rational demand and a supply relationship as appropriate housing prices. Of course, we look at the transformation as well as at the areas where the city area and the suburbs meet with each other, with the higher population. We also consider a lot of our support.
In terms of our customers, we are focused on high quality developers to facilitate the steady growth. Of course, for those developers where we saw risks, they stabilized our facilities supporting without suppressing them and without discontinue our support to them. You also asked about the upstream, the downstream in the asset quality. I can share with you that in the early period of time, because of the declining trend in the property market, we saw some developers that they expanded too aggressively and that they got too much debt. We saw more exposure so to risks, and we saw the increasing trends of such risks among a lot of our developers. Last year, for the NPI...
For the NPR, for the corporate customers. The NPL ratio is 5.48%, up by 2.9%, reaching CNY 460 million. Overall, our assets quality, there are risks, but the risks are controllable, and the overall assets quality has been very stable, and we have already made the reserve and the provision accordingly. Let me give you example about downstream and upstream. For the construction structure, it was a very steady industry. Last year, the NPL ratio was 2.43%, up by 0.18 percentage points from the beginning of the year. After the issuance of the financial fifteen rules, so let me share with you very briefly how we implemented these, the rules. We responded actively and started implementing immediately.
Currently, we have assigned to the comprehensive strategic agreements with over 90 developers. Specifically, these are what we have done. First, we organized and started implementing immediately after organizing meetings and setting up the across department working with working groups. We also started specific measures for implementation so that the policy can be spread to branch offices immediately. Secondly, we also optimized the process of the policy in implementation. We focused on the property industry and accelerated, stabilized the loan issuance to the developers as well as individual customers. We also provided financing services for the guaranteed delivery houses and some of the, for example, for the developers for the guarantee services and the loan services.
Through this, we optimized our business process, and finished the expansion, the centralization of our different policies so that we can keep compliance with all the regulatory requirements. Thirdly, we also enhanced our own inspection and assessment, as well as the guidance in a systematic way. We have incorporated all the requirements into our assessment criteria and by project, by customer, by branch office. We do the supervision day by day to guide the branch offices implementing the policies quickly. In short, and also as the next step, we will continue enhancing our responsibilities and continue optimizing the existing rules to support good developers and improve for the balance sheet and satisfy the reasonable financial demands from the property industry.
Meanwhile, we will also further enrich our own product mix in order to manage the risks and maintain a good relationship with the business people to support the healthy and stable growth of the recovery of the property industry. Thank you. Thank you, Jiawang, for taking this question. The sixth question will be from Hong Kong. The fourth row. The gentleman in the fourth row, please. Thank you, management. I'm Sheng Yi from Morgan Stanley. My question is about the CAR, your core capital adequacy ratio. We noted that due to for all the commercial banks, there was a new policy. Just want to know, how do you think about how do you assess the risk? As in, how do you think about the core, what the CAR? What will be the impact to you in this new policy?
There is some practice of regulations on this. In 2025, in terms of the TLAC for the CAR requirement, did you see any pressure? This year, can you please share with us any new capital implementation? Thank you. Mr. Fu, please allocate this question. Let me take this question. First of all, thank you for your question. We have noticed, and you all have noticed, for the commercial bank asset management policy, the adoption, the draft policy is issued, and it is for viewing, for the public hearing, and it considers the over-reminding market as well as the real situation in China. It also improves the in-comparativity as well as the fairness guide.
It is also helpful guiding all the commercial banks to provide more good motivation to them in providing their economy. According to us, after the implementation of the new policy, our risk-weightage, risk assets will decrease and the CAR at the different levels will go up. So far, we are promoting the implementing of this new policies in the early preparation and will proactively do the allocation and the optimization of our assets in the bank level to improve for the asset level and the risk management. Making sure that we will have a very stable CAR after this policy is effective.
As for, you know, hiking the targets, after our assessment, we think that the TBAC for the TLAC, hiking, in terms of hiking the TLAC targets, we have confidence because as you know, the CCAR is the foundation of a TLAC. So far, our CCAR is 17.2% compared with the end of last year. There was a 3.17% up. Therefore, it also helps to build a solid foundation for us to hit the TLAC goal. With the higher CCAR, we saw the following factors have enabled this. Number one, our internal profitability has been better. Last year. That's perfect. Answer the board and shareholder. Is over CNY 269 billion. Secondly, we have delivered workers without the capital reservation.
Our asset liability debt is from 2% to 8.5%, down by 2.9 percentage points than the previous year. Thirdly, therefore, the capital replenishment also improved last year. We captured the opportunity in the market and we issued the CNY 8 billion perpetual debt in the market as well as the CNY 30 billion secondary bond in the market, which helped with our CAR. On the 21st of March, we also issued a CNY 70 billion secondary bond to the market and further enhanced our capital, our asset strength and the capital strength. We will further improve our capital plan and making sure that all the capital is allocated effectively.
We will also keep a close eye on the market and replenish our capital from external adequate rate, making sure that we maintain a very stable and healthy CAR. Thank you. Thank you, President. Second question will be from Beijing. First row in the mid area. The gentleman, please. Thank you for this opportunity to respond. From China Securities , my question is about the business of the juvenile villages from a financial statement in terms of juvenile villages. If you remember very good local results, and also the country's national congress also puts a lot of focus on this. Just want to know that you are leading bank in the villages in the rural area regionalization and what are the opportunities? Please share with us why we serve the regionalization program.
How to improve your own performance as a bank. Mr. Fu, please allocate the question. I would like to take question to take this question. Thank you for your question first. Thank you for having noticed our two positionings for ABC. One of the positionings is providing the financial services and act as a leading bank in helping with the juvenilization of a rural area in China. It is a very important strategic deployment. Providing services to the regionalization of the rural area has been a very important task for us. Last year, we did a very good job in this regard. Let me share with you in 3 areas. First of all, the issuance of loans in this area further enhanced.
As of last year, the total balance of loans is CNY 7.1 trillion. The increase is also a half above the average growth of loan by 2.8 percentage points. In some key areas, for example, the food security, urbanization of the villages and reconstruction of the villages, our growth speeds are all above the others. In terms of enhancing our in our projects, we provide services in the over 150 counties in over 832 projects. That's another one. The third one is the coverage of our financial services further expanded. In 2022, we have more outlets and 65% of them are located at either counties or townships, as well as the areas that the cities and the rural areas meet.
Our coverage is already over 94% in rural areas. Mobile phone or online banking. We have over 200 million registered users at country level. Through their mobile financial service vehicles, we also provided services to the remote over 100 remote townships in providing services in different businesses. We have more enriched financial approaches. For example, we have the reserve forestry bank. We have the rural cooperative bank. We have the specialized accounts for individuals to support their three agriculture projects. Currently we have 273 research projects. For the Hunan loans increased by 37.3%. We have different accounts.
In terms of the underwriting of bonds for regionalization program, we are also ahead of other banks. This is about the regionalization program of rural areas and some of the achievements we had last year. The country's national congress as well as the economic working committee and the central government further made a deployment for the regionalization program at the country. This also provided a historical opportunity for ABC. You may have noticed that the government has decided to kick off the new round of 10 billion tons of food in the country. There will be support for the irrigation system, for the farming system and as support. We have seen a lot of support demand in this for services.
In the regionalization program, how to build some industrialization, urbanization and standard support. For the primary, secondary and tertiary industries are gaining integrity. With the great potential with the low carbon development in the rural area. Digital villages, the combined villages, as well as the environmental governance in rural areas and the infrastructure and as suppose, we also see great demand in those areas. Meanwhile, we have noticed, you have noticed as well, that in land information talent technologies and as so forth, all these, the critical elements will also grow more and more to agriculture and the villages. There will be great potential of consumption in those areas. Those potential will also be released, which will brought more opportunities for us to further expand our business and the services.
As the next step, we will anchor ourselves to provide high quality financial services and provide services to the growth of our three agricultural areas, and contribute more share to our national program. This year, our focus will be in the, in short is, 633. Three six means while enhancing what we have achieved, the food security, the village accommodation project, the green and the low carbon rural development as well as the county, township integration, we will have six specialized actions. The first of three is about a further expansion for the financial innovation and digital village. These are three projects.
The third three is to build up and improve the existing empowerment programs and result allocation, as well as the risk management and the compliance performance, you know, existing network. By taking all these measures, we will deliver even higher level of performance in all these areas. This year, we will help to realize more performance in our all the, all around services. The eighth question. The eighth question will be from Hong Kong. The fifth row, the gentleman there to my left. Good afternoon. Afternoon. Michael from Sing Tao. My question is about asset quality. Last year, the NPL ratio declined. What did you do for that? In what areas or in which part do you see big pressure and risks?
Do you say there's any change of the risks and pressure in this year and compared with last year? How do you think about the trend of the NPL this year? Will it be better or will it go worse? Can you please describe will it be the high first and then the low or low first and then high? Regulator issued a policy on the commercial banks. In the financial assets, the risk management rules and the loans will be extended to all financial assets. For a bank, particularly ABC, what will be the influence and how big influence will it be? Thank you. Mr. Fu, please allocate the question. Mr. Zhang Xuguang will take this question. Thank you for your question. Michael from ShunPao. It's easy for me to communicate and answer this question. Sorry.
You asked several questions. Let me take them one by one. First of all, the risk management, this is one of the key area we look at, and we have been enhancing our measures, as well as improve the accuracy and proactiveness in risk management. Our asset quality has been improving. NPL ratio is 1.37, down by 0.06% than the beginning of the year. As for the new NPL areas, we have been keeping a very close eye on it. New NPLs is CNY 107.5 billion, and it increased by CNY 5 billion, and there was a 10.19% down. For the manufacturing, leasing, property and retailing and the household, these four areas. 66% of the NPLs happened in those four areas.
For the retailing, and so it was a CNY 5.8 billion increase, and there was a 0.15% increase. In addition to these four areas, we also look at the local government debt, risk, credit risk, some as well as the foreign translation in some high risk areas. Meanwhile, in the economic translation, some SMEs and individuals, they may have also weather able damages thematic risk for them. Talking about our forecast for asset quality in the future. First of all, from the external environment, China's macro economy is improving, which provides very good external environment for our own asset quality. Internally, we are having more and more measures-To manage our credit quality, first of all, we have done, number one, we keep optimizing the, our, the credit loan, credit and loan structure.
We combined our own policy with the adaptability of the national policy. Secondly, we're improving our own policy on credit and loans, particularly optimize the granting and authorization to make it more efficient and more targeted. Number three is, in the reform, we focus on the exposure and the risk management at the group level and the lower level. We're launching a capability system in order to specify the risk management responsibilities. Meanwhile, we're also improving sector risk management mechanism, particularly enhancing our understanding of our risks and further expand to different risks and the precaution measures and assess the stress tests and so on and so forth, in order to stabilize our asset quality.
We also improve our capability due to the risks, and we focus on the role that big data plays, and we also keep optimizing and iterating the risk models. I think that through the better microeconomy, economic environment as of the moment just from credit and loan management, I think that we will deliver a even better result in this regard. Your third question is about the financial asset capitalization methods for all the commercial banks. What is the influence? Now, we studied the new requirements. In our own capitalization, most of them have already been implemented. Let me give you two examples. In this policy, the scope of the capitalization now is expanded from the loan to all the assets that undertake beta risks. Actually, for the credit risk and the non-credit risk, we have already implemented requirements.
For the over 90 days overdue will be regarded as NPL, but also we have been very strict in identification of such NPL, for example. Of the 22, the end quarter, assets will be regarded as NPL. This is our practice in general. We are also taking tests, you know, business and then making all the arrangements accordingly. So far for our assessments, after this policy is implemented, there won't be big influences on our asset quality will continue to improve. Thank you. Thank you, Xu Guang. The next question. Where is it from again? In the middle area, the third row. The lady there, please. Good afternoon management . Ma Ping from the Shanghai Security Daily. My question is about the risk management. With the interest hike from the Fed, there are some questions.
How do you think... How do you manage? What are you thinking? What are your precautions on the risk management, and what measures are going to take? Thank you. Mr. Fu, please allocate the question. Our Mr. Yang Ming, our Investment Director, will take this question. Thank you. Thank you for your question. Just as you asked just now, your question, recently, Europe and European, we see some banks have a lot of incidents recently, and it happened in the context that the Fed increased its had increased the hikes continuously in the past. First, I have two points I want to share with you. The first point is, currently in Europe and the U.S. had the bank incidents. What is the direct impact? Well, we don't see much impact to us.
We can look at it from two levels. From the operating level, with the, you know, total business, foreign exchange, foreign exchange assets and overseas assets, we don't have much of it. Specifically, we don't have any exposure or we have a little exposure on this. We have always take the liquidity management very seriously. We have abundant capabilities to fight against any possible foreign exchange related risk. This is the 1 level. From a macro level, in China, we have autonomous currency policy, and we have our own financial environment and financial policies. We have been very cautious on the macro controls. In ABC, we also implement all the requirements and stringent like so we have a very good external support from the environment on our operations.
This is the first point I want to share with you about the direct impact, very little or no impact, direct impact. The second point I want to share with you is that currently in Europe and the U.S., where after these bank incidents, once again, this is a very good alarm for us. For ABC being a, one of the big banks in China, for such bank incidents in U.S. and in EU, we have been very, keeping high level alert to those incidents. We think. At the present, looking at all these bank incidents in EU and the U.S., we do not think that they are liquidity risks or interest rate risks only. We need to look into the incidents in a deeper way, in a long-term way when we analyze the risks.
There are a lot of things internally in those banks. That's why we stick to our own, our own concept and the philosophy in our own versions. Number one, we do banking business. We must do it in a stable and a precautionary because we issue loans and we charge interest, and therefore, we have a limited coverage on such, on such, risks. Doing our business in a prudent way, this is the number one requirement. Number two, you must coordinate and make planning appropriately. Doing banking business, we hope to grow our business in a sustainable way. Therefore, you know, our day-to-day operations, the liability, the liquidity, and all these relationships must be maintained in a balanced way in a short-term or long-term relationship.
We cannot focus on one area without thinking much about the other areas. Thirdly, doing a banking business, you must be very sensitive because banks are so closely related to the whole society and to our economy. Doing a banking business, you must be able to keep sensitive to what is happening outside as well as your insights. You must be able to identify the changes and get insights on the risks as well as the business opportunities. I hope I have answered your questions. Thank you, Liu Jing. Dear friends, we have a lot of questions from online, and we have get some frequently asked questions from online. Let's answer the most asked question here.
How do you think about the inclusive business as well as the changes in cost and returns? For the inclusive micro and small business, do you think there will be a continuous high state of growth this year? Mr. Fu, I will take the question. Okay. Mr. Liu Xiaowang will take this question. Thank you. Thank you for your questions. I don't know who asked these questions and what is the name of this investor or friend from media. Let me answer this question. In 2022, providing services to the real economy and keeping improving our capability has always been something that we're focused on when we support the growth of small business, micro business to the society in terms of our capability versus liability.
I suppose you must have already seen the data in our annual report. At the end of last year, in terms of inclusive micro business loans, their total balance is CNY 1.177 trillion. The number of customers is 2.53 million. Besides, our positioning is to be a leading bank in providing support to the rural renovation program for a lot of customers. We also enjoy our support in the farmers. For a farmer, we are part of the inclusive programs. The total balance of loans is CNY 2.57 trillion only. This is the overall situation for the inclusive micro and small business. As you asked, the cost and the returns and what are the changes.
Talking about returns, from the interest returns for the basic interest rate for the loans issued is 3.9%, down by 20 basic points than the previous year. Looking at the cost side, in the past few years, ABC has been deepening our implementation in digital transformation. Meanwhile, we have been optimizing our business flow as well in order to improve our capability and efficiency in delivering the best inclusive services. We are also better at managing the risks in this process. Therefore, while providing services to such small and micro customers, our operating costs, risk costs are also going down accordingly. This is about the cost and return changes.
The third question you asked, or the third point you asked is that in 2022, along with the recovery of our economic situation in China, small and micro businesses are now resuming their business and the inclusive financing demands are also going up. We will also consider our own situation as a bank and work out the separate loan plan for more such services and allocate resources to it accordingly. We will work hard to realize a further growth based on a high level of performance last year for the sake of a high quality growth. You may have already read in the public accounts, we already announced our total amount of our loans. Now it is over CNY 3 trillion . I hope I have answered your questions. Thank you. Thank you, Jiabao. The 11th question will be from Hong Kong venue.
To my right, the fifth row. The lady there, please. Good afternoon, management. Good afternoon. From DOA Security. My question is about the green loans. Last year is at a 36% of growth and higher, much higher than the average in the industry by 21 percentage points. I just want to ask, what is the pricing of your green loans, and what is the asset quality? Looking to this year, what will be the growth target this year, and what areas are you going to grant your loans? Thank you. Mr. Fu, please allocate the question. Mr. Zhang Xuguang will take your question. Thank you for your question, and thank you very much for your recognition and interest in our green loans this year.
As a response to the strategic deployment of the central government in the green bonds, we also keep improving our capability of our green financing through our services and contribute our share to realize the beautiful China. Of course, the green is also our background color. If you will look at our logo, it is also green. This is also part of our culture and the philosophy. As at the end of last year, our total balance of asset loan is at CNY 2.7 trillion, up a lot. It is at a very high growth. Also the green bonds is over CNY 210.6 billion, with 37% of growth. Now, in terms of our pricing, we offered a favorable price.
For example, we fully authorize our front line branch offices, and they can provide a more competitive pricing to our customer in the green bonds. In the previous four quarters, at the different levels, our pricing has now penetrated into lower levels of our branch offices. Because the green stands for the advance and the future, productivity and the work life. Therefore, the asset quality has been very, very stable. We currently, in terms of the granting of asset loans, our requirement is that we will provide most of those to green loans, making sure that the growth is continuously above the average growth in the industry, making sure that the percentage of the green bond continues to go up. This is our overall target.
As for specific areas, we will look at energy conservation, clean production, clean energy, environmental protection and equality, the upgrading for infrastructure as the green services. Meanwhile, we also answer to the government's call of carbon emission reduction as the high efficient of energy utilization and the support. We will provide the services to the key customers and the key from the key areas. Thank you, Mr. Zhang, for taking the question. The 12th question will be from Beijing venue. The 5th row in the mid area. The gentleman there, please. Thank you, management. China Business Economic Reports. My question is, how do you think about the consumption financing potential and pricing as well as asset quality? What is your strategy in the target this year? Thank you. Thank you for your question. Mr. Fu, please allocate the question.
Mr. Jiabao will take this question. Thank you for your question. 21 from the economic reports. This is something that I have described over the years. Let me take your question. What is our take on the potential of a consumption financing? Looking to this year, I think consumption financing is now embracing a new development opportunity. I think that the following three factors will contribute to this. Number one, the government issued policies of expanding our domestic growth and the domestic consumption. Therefore, people are more confident in consuming. Secondly, economy is recovering. This also releases a lot of consumption potentials. Number three, the government encourages consumption financing in the regional growth by the relevant policies.
Therefore, we think that it is a normal figure. Our performance in the first quarter also show that this is a very good trend. The second question you asked about the pricing and the asset quality, about the individual consumption financing. As Mr. Zhang said, I already shared with you the overall performance of our total loans to individuals. Now for the consumption financing sector, so we answer to the government's strategy, and we provided services to support the people. Consumption financing also grows very fast. As of the end of last year, we have CNY 5.53 trillion in this category. For the consumption financing for the individuals, So there was Yeah, the total balance is over CNY 874 million for the credit card loans.
There was over 2 million increase reaching over 674 million. From a pricing point of view, for the mortgage side, interest rate last year, every month, the interest rate went down a little bit. In Q4 last year, the average interest rate is also around 4.23%, which was a result of a very big drop. For the individuals, the weighted interest rate was 4.07% compared with the previous year, down by 20 basis points. This is about the pricing. For the asset quality, for the individual mortgages, the asset quality has been maintained very stable. For the housing loans, it is 4.51%, up by 15 basis points.
The individual consumption loans is 1.25%, so it is declined by 8 basic points at the end of the year. Our credit loans is 1.23%, down by 24 basis points. I'm still leading ahead of others in the industry. For this year, for the consumption financing sector, we think that we will continuously capture the opportunity in the market and enhance our loan granting in this sector in order to satisfy people's needs on consumption financing. Specifically, number one, for the people's everyday life, culture, education, healthcare, senior care, so on and so forth. We will actively satisfy people's needs of pursuing better life. We are also leading ahead of the individual loans.
Also, for the interest rate for the first homebuyer and regular home buyers, we will issue policies for different strategies and adjust the first installment amount as well as interest rate. Count more resources and more loans towards the individual homebuyers and support the homebuyers for the first-time buy as well as for their repeated demands and improvement purpose. Number three, to optimize our financial services and improve the accessibility of our individual loans, particularly for the new citizen group. We are going to launch a new citizen consumption loan in order to satisfy their needs in day-to-day consumptions and help them to integrate into new cities.
Finally, the 4th one, for the car buyers, for young car buyers and young people, small and micro business owners, we will provide a differentiated product innovation and targeted service providing to serve them well. Further, we will expand the size of our credit loans. I hope I have answered your question. Thank you, Xiaowang. The 2nd question will be from Hong Kong venue. The 3rd row to my right. The lady in the left. Thank you, management. Thank you, secretary, for this opportunity. I'm Cacia Tong from Hong Kong Commercial Daily. My question is, the whole banking industry has provided more and more support to real economy. There's a pressure of upgrading capital. Do you think they will be influenced to your dividend payout? This is my 1st question.
The second question is, the regulators said earlier that we've been to set up our Chinese rated valuation system. ABC, as well as other major state commercial banks in each share market are long-term, your share prices are below your net assets. Recently, there have been some incidents in Europe and in some U.S. banks. For the state banks in China, their share prices, there may be some differences to their prices. My question is, how do you think about the Chinese capitalized valuation system? How do you guide investors to make their adjustments on ABC's values? Thank you. Thank you. Mr. Fu, please allocate the questions. Mr. Han or our Board Secretary will take the questions. Thank you. We are now on site and communicating face-to-face. Of course, this is definitely a very smooth communication channel here.
You might ask your questions involved in three levels. Number one, dividends. Number two, evaluation. Number three, ABC including all their banks or the listed banks of their share prices. First of all, dividends. For ABC, yesterday, we had our board meeting, and we will continue maintaining a high dividend payout ratio. For ABC, we seek to be a maximization of our shareholders' interest. While considering the returns that show the shareholders, we also consider our own long-term growth. You may have already noticed that ever since we got listed, for so many years, we have been maintaining very high dividend payout ratio, above 30% every year. About valuation, we have also noticed that in regarding setting up our own valuation system with the Chinese characteristics. CBRC has already made such announcements.
We will definitely work together with other parties to, you know, setting up our own valuation system in China with our own characteristics and build up a synergy. Based on our share price performance recent, it is very obvious that we are undervalued, even though last year, since the beginning of October last year till now, in the past few months, our share price bounced a little bit under periodic claim. The growth was good, so far as the day, well, as so far as the morning, when they closed in the morning. In A-share market, there was a 13.04% of growth. In the H-share market, a 29.91% of growth. Which are very good.
Even with so good growth, now our valuation is still undervalued. If you look at the figures, in A-share market, our EPS is at 0.5, and the H-share market about 0.41. Apparently, compared with our so satisfying recent performance, the high % of our dividend payout ratio and for us the high quality business growth trend. We think that this share price doesn't fit for that. When we look back, do we really have the value for investment? I must say, ABC has been sticking to the principle of high-quality growth. In the long term, we have been focused and dedicated ourselves in value creation, particularly after the incidents in some European and U.S. banks. We think ABC does have our own unique resilience and value inside.
The number one, our investment value is very high. Despite the complicated and ever-changing external environment as well as the down-going economic trends. Last night, we announced our recent performance, and you may have seen that we have a lot of highlights. Particularly the profitability has been very stable. This shows that, we Our resilience of our cost periodic growth. In the past three years, our net profit for average enjoyed a 6.78% of growth each year. And our AA is 0.84. Our AE is 1.43. Yesterday at the board meeting, we passed the dividend payout resolution, and we calculated based on this. In A-share market last year, the dividend is about CNY 0.776, and the H-share market is CNY 0.94.
This is the yields from our dividend. Apparently above any other wealth management products such as our national treasury. We have a great potential for future growth. We can look at it from three dimensions. We have our uniqueness. The first dimension is that this year, while our economy is fully recovered, consumption will be a major driving force of our national economy. For ABC, we have 860 million individual customers. These are good scores for our future growth. Secondly, ABC being a key player in the national team in providing the regionalization program. We have over 126,000 county outlets. Over 196 service points providing services to all the county areas.
This is an advantage due to the size and the country size. Definitely, it will be able to be playing its role throughout our business growth. In the past two years, we have been dedicating ourselves to transformation in digitalization. Big data application, the online business system construction, as well as the digital financial services and so forth. We have made major progress, and this progress has provided new driving force for our long-term stable growth. The third dimension is further improvements in our asset quality. As you can see from the data we released this morning, this is a result our continuous governance in the past couple years, as well as the reform of our internal mechanisms from the credit approving process.
The NPL is back to 1.37. After we got listed, basically, it is close to the first level. The NPL ratio also declines year- by- year. Last year there was a 0.05 decrease. Actually it is also the best performance we have ever had since we got listed. As Nicholas said, we will take active measures and communicate with the market entities fully and comprehensively. We will take your adequate recommendation and suggestions to enhance our long-term construction of our business so as to deliver more valuable rewards to the society, to shareholders, and to our employees. We also hope that all investors please continue speaking to us and holding your confidence on our share price, on our shares.
Please also share our highlights with other investors and with the market as, let's work together and build up our own evaluation system with the Chinese characteristics. Thank you. The 14th question will be from a Beijing venue. In the middle area, the 4th row, the lady over there. Please to the right. Thank you, Board Secretary, for this opportunity. Yi Tang from CITIC Securities . My question is about the digital transformation. Many banks are focusing on their digital transformation, and we see you have made progress. Just want to understand, in the digital transformation, what measures are going to take specifically this year? Thank you. Mr. Fu, please allocate the question. I will take this question. Thank you for your question.
First of all, for ABC, we have three major strategic strategies. Digital business is one of our three strategies. Therefore, in the past few years, we take digitalization as the key line in our top 10 projects in order to implement the digital transformation. In 2022, we have finished the framework of our those top 10 projects. Our capability of data utilization improved a great lot, and the results of digital transformation has also been good. I can share with you specifically the following areas. Number one, the financial service capability for the digital abilities have been improved. We focus on the applications in key areas via the risk management system. We've launched in over 1,500 counties.
We are also using this platform in over 1,200 townships. We keep optimizing our agricultural products. This product is basically for the agricultural related customers. With the total balance of loans with over CNY 750 million, which is 80.3% of the growth. We also launched other products and are providing solutions to some pain points. In the country, in 33 branches, we have already implemented these programs and launched these products. The second area is we have enhanced the digital channels. Talking about the iteration, now the speed is much faster. For example, we have the Jiayin 8.0 version. Now our risk management and the united platform is better.
Like at the end of last year, our active MAU is over, also reached a higher level. Driven by other banks, in terms of our financial service capabilities, we also make this capability even stronger. From a GN to BN to the CN, these things are a whole ecology. In people's day-to-day life and in jeans and a circle. These are the scenarios that we can use our products to provide the seamless financial services to them. Thirdly, our data utilization capability is also enhanced. We have high quality of digital assets as well. Last year, for the customer, we set up the standardization for the organization products and the customers. These systematic tools are being optimized.
For the corporate customers, individual customers, retail and so on and so forth, all these systems are being upgraded. Risk management of course also enhanced through digitalization. Digital model building and the application also go deeper. During this decade, through our data banks, we have already found that the data is a major driving force to our business growth. Number four, the foundation of our digital transformation is also further enhanced. We have built up a distributed system and also build up our own information security system. I must say that in the past few years, in terms of the digital transformation, we have made progress. This year, we will go on enhancing and consolidating the achievements we have made and deepen the sharing and empowerment.
Based on our needs in business growth and operations, we will expand new application areas and keep pushing digital transformation to deeper and wider. These are the key areas that we are working on. 1, we will continue working on the digital empowerment in the agriculture-related areas. We have an online business model available as well, which can connect it to the external high quality data to build up our own model systems at the headquarters, according specifically for their branch offices, so that we can provide all process online services. Meanwhile, we will keep deploying the application scenarios of our agriculture refugees. By relying on our platforms, we will go on expanding the number of personals and providing digital services to the agriculture-related users.
Number three, we will build up the integration of online, offline services, and give full play to the traffic resource from online as well as the network resource from on and from offline, from system, procedure, data, and so forth. We will steadily push forward our Zhangyin, you know, mobile marketing packs and so forth, to build connectivity between different channels. The data will be the link connecting online and offline, the two operations fields, so that these two fields can build up a new landscape of operations. Thirdly, we'll keep approaching our capability of data utilization. Completing our data infrastructure project. We, while we're pushing forward our data lake construction project, we will also improve the accessibility and the usability of data.
We will also deepen data in terms of the targeted marketing and refined management as well as the refined risk management. Through the system module production tools in terms of sharing and empowerment. Number four, by relying on digitalization, we will empower the digital operations at the lower level and reduce the pressure. By using digital financial tools and reducing influence from APR, OTC and so forth, to reduce the workload and the release of the pressure. We will also focus on resolving all the difficulties and the pain points when they use the digital financial tools to empower them and improve their working efficiency and the productivity. Thank you. Thank you, Mr. President.
For the interest of time, we will take the last question. This question will be from online. Now let me select the answer the question, which is also a very frequently asked question. This question is about wealth management. The question is: The capability for wealth management has built a lot of influence to your long-term profitability. For the big wealth management, what is your core competitiveness and how big is it? What are your new strategies this year? Mr. Fu, please allocate the question. This question will be answered by Mr. Han, our Board Secretary. Okay, thank you. This is the last question. Mr. Fu has left this question to me. It's my pleasure. First of all, thank you for your question.
ABC, we have always sticked to the value preference of providing services for people. As guided by the one body, two wings. One team, one body means that they are customers, and the two wings means that they are our strategies. Under this strategy, we promote the our strategy, which is called the Big Wealth Management Strategy. Savings, loans, as well as other customer, we have made progress in each of the aspects. For example, the individual savings, last year in just 12 months, the incremental part exceeded CNY 2 trillion , creating a industrial record. For individual loans as well as the AUM individual customers and also the ATM, both have the incremental part and the incremental growth speed.
We are both ahead of others. These achievements, as Mr. Fu already mentioned in his presentation, last month, we made our announcement as well. You may have already found this information. So as for the specific data, I wouldn't elaborate too much. Some friends online also asked that in terms of Big Wealth Management, what are our core competitors? I think we have core competitiveness in four areas. For particularly for our differentiation advantage in the long run. Number one is the asset allocation, investment research, the risk management and talent construction. These are the four areas that we keep improving and build up our own competitiveness.
In terms of the asset allocation, based on the customer's risk appetite and for some differentiation requirements, we allocate the investment plan and so that we can allocate the right products for them and be the customer's family wealth manager. In terms of investment research, we keep improving our understanding on the macroeconomy as well as the market changes in predicting such analysis, as well as analyzing the industrial changes. In terms of risk management, we keep improving our whole term risk management system and try and identify the risks earlier and be precautionary and stick to the bottom line. In terms of our talent pool, we make more efforts in attracting and cultivating talents to provide sufficient talent guarantee for our further growth.
As I mentioned that, we will continuously stick to our key areas of regionalization program in the country area as well as the national strategy. Now we have a bigger and bigger middle class, and people have more and more wealth, family wealth, so more and more demands for wealth management. This is a very good opportunity for us, and so we will further promote our big wealth management service to a higher level. Specifically, we will focus on three areas. First of all, in terms of our product supply, last year, we launched and some online products and they're found as a targeted investment. Very well accepted and welcomed by the market.
This year, we will further implement the the antique products as well as some basic products in order to satisfy different customers' different needs in providing personalized products. In terms of our partnerships, we will be more more inclusive and sharing. Very soon, we are going to launch a wealth open platform to attract high quality of institutions to join this platform and provide enriched products in wealth management. Meanwhile, we will also enhance the admission and and customer base management for all the participants. On the one hand, we motivate all their partners to providing high quality products. Meanwhile, we will also manage the risk accordingly.
Number three, in terms of customer services, we will focus even more on the pre-sale, mid-sale, and post-sale all chain, all cycle services and accelerate the digital transformation of our service, of our products. By leveraging different technology approaches, we will enhance the access, the innovation of tools as an application of different tools. Meanwhile, by leveraging our network, the prime banking and the coverage of WeChat and so on and so forth, and focus on the highly efficient online as well as the overall channels offline, this integrated system. Work hard to deliver even higher quality and even more friendly products in investment and transaction experience. I hope I have given you a satisfying reply to your questions. Thank you.
Ladies and gentlemen, thank you very much for taking the time and joining us on our 2022 annual results announcement today. We thank you very much for all your support and the continuous improvement to the Bank. I thank the management for your in-depth sharing and taking all the questions. This is the end of the annual results announcement for 2022. Thank you, thank you very much.