Ladies and gentlemen, good afternoon. I am Han Guoqiang, Secretary of the Board of Directors of Agricultural Bank of China. Welcome all the friends to attend the 2021 annual results conference of Agricultural Bank of China. According to the latest requirements of epidemic prevention and control in Beijing, this conference is going to be held by telephone access and the webcast. Here, I would like to express my sincere gratitude to all the sectors of society for your long-term concern and support for our bank. Thank you. Next, I would like to introduce the management representatives to attend today's meeting. They are Mr. Zhang Qingsong, Vice Chairman, Executive Director, and President of Agricultural Bank of China. Mr. Zhang Xuguang, Executive Director and Vice President. Mr. Lin Li, Executive Director and Vice President. Mr. Cui Yong, Vice President. Mr. Xu Han, Vice President, and Mr. Zhang Yi, Vice President.
In addition, we also have with us Mr. Wang Xinxin, Independent Director, to attend today's conference by telephone. Hello, Mr. Wang.
Hello, Mr. Han. Hello, everybody.
Thank you, Mr. Wang. In 2021, faced with the complicated and ever-changing economic and financial situation at home and abroad, Agricultural Bank of China conscientiously implemented the decision-making management of the CPC Central Committee and the State Council, unswervingly took the road of high-quality development and effectively served the agricultural rural area and farmer development, and provided excellent and strong financial services for people's livelihood, accelerating the pace of reform and business transformation in key areas, continuously strengthened risk control and prevention, and achieved ideal results in business operation and delivered a brilliant answer sheet to all the investors. First of all, now let's have with us Mr. Zhang Qingsong, President of Agricultural Bank of China, to introduce our operating results in 2021. After that, we will have with us the Q&A session. Thank you so much. Now let's have with us Mr. Zhang.
Thank you, Mr. Han. Ladies and gentlemen, good afternoon. Welcome you to join this 2021 annual results conference of Agricultural Bank of China here. On behalf of our bank, I would like to express my sincere gratitude to all the journalists, investors, and analysts who have given us care and support for a long time. Thank you so much.
2021, the Agricultural Bank of China conscientiously implemented the decision-making of the CPC Central Committee and State Council focused on strengthening agricultural rural areas and farmers' development and financial services of the real economy, conscientiously deepened the reform and system and mechanism, calmly responded to various risks and challenges, and stepped up its business operations to a new level. Number one, to realize high-quality development, simultaneously improve the scale, quality, and efficiency. Until the end of 2021, the total assets were CNY 29.1 trillion, and the loan is CNY 17.2 trillion with 13.2% of growth, and it's a CNY 2 trillion RMB increase. It has reached a record high. Customer deposits reached CNY 21.9 trillion RMB and up with CNY 1.5 trillion RMB, and among this we have exceeded more than CNY 1 trillion RMB deposits.
The net revenue is RMB 7,199 trillion. The net profit is RMB 241.9 billion. The weighted average return, ROAE, increased by 22 basis points. The non-performing loan is only 1.34%, dropped by 14 basis points compared with last year. The second one is we make every effort to make the leading bank of rural revitalization, and the business advantages of agricultural rural areas and farmers are further highlighted. Until the end of 2021, we have newly added RMB 913 billion. It takes about 36% of the loan of this deposit and balance accounts, and we all have reached the new heights in the past decades.
Loans in key areas of the rural revitalization have a good momentum, with the growth rates of food security, rural industry, and rural construction loans reaching 17%, 20.6%, and 14.8% respectively. Solid results have been achieved in consolidating the achievements in poverty alleviation. 832 poverty-stricken counties and 160 national key rural revitalization counties were 14.2% and 15% growth, and which were all higher than the average loan growth rate of the whole bank. The digital financial services in rural areas have achieved remarkable results. The online farmer loans then preferential e-loan has a balance of the growth rate of 54% serving 3.68 million households of farmers. The third is we continuously improve the accuracy and adaptability of financial services and efficiency.
Focusing on the national regional major strategies, key projects of the 14th Five-Year Plan and strengthening the comprehensive financial services. In 2021, we increased loans for major projects by more than CNY 600 million and for the major local projects increased also significantly. We continue to promote the increments and expansion of inclusive loans and the balance of inclusive small and micro enterprises loans increased by 38.8%. The speed of growth has already exceeded 30% for 3 consecutive years. We also have 1.9 million with 39% and 26% growth rate respectively. We also improved the financial services for science and technology innovation. The service coverage of Little Giant enterprises specializing specialties, we reached 60%.
The loan balance of strategic emerging industries will exceed CNY 850 billion. Actively practice the concept of green development and vigorously implement the strategy of green finance with the balance of green credits reaching CNY 1.98 trillion, up by 30%. The fourth is we adhere to customer first and constantly strengthen people's livelihood financial services, continue to extend service tentacles to counties and remote areas. In 2021, the relocation outlets of 65% have been distributed to urban, rural, fringe, and the counties and towns. Extending the supply of people's livelihood financial services, such as housing, education, medical care, health care, and old age care. We will promote the aging and a barrier-free transformation of financial services. In 2021, we have altogether visited the special groups with our home visits.
It's about 0.23 million times and provide the customer with inclusive, fast, and more sensitive financial services. Strengthen the protection of customer rights and interests. Set up the customer rights and interests protection department, and optimize the complaint response mechanism of various channels. Further unblock customer complaint channels and actively responded to customer demands. Fifth, we strengthen the empowerment of science and technology and achieve landmark application results through digital transformation. Mobile banking customers exceed as the number one in this industry, up by 46.4% and with the registered user over 1 million. At the end of 2021, the online loan Agricultural Bank of China e-Loan has increased by 63.2%. The online finance has already exceeded CNY 100 billion.
Smart marketing, smart risk control, data center, and other projects have steadily advanced and consolidated the basis of digital transformation. Digital transformation, digital risk control, data, middle office projects have all been steadily advanced and consolidated the basic support of digital transformation of Agricultural Bank of China. Six, accelerate the transformation and innovation and further consolidate the foundation of long-term steady development. Continue to promote expanding households and improving quality with a total number of 878 million household for effective leading business company has also upped by 7.6%. We also accelerate the wealth management system, constantly enrich the supply of products and services such as fund, insurance, wealth management, family trust. The number of private banking customers upped by 20.6% compared with the end of last year.
The balance of assets is RMB 1.85 trillion and the asset of wealth management product reached a record high, reaching RMB 2.07 trillion. Deepen the integration of local currency and foreign currency group integrated operation. Improve the linkage marketing service mechanism for corporate customers, and continuously enhance international and integrated service capabilities. Seven, actively respond to risk challenges and keep the risk bottom line. The new adverse trend is improving and the incident of adverse events is 0.69%, down by 0.27% compared with the end of last year. The indicators have improved significantly. Those overdue loans and concerned loans have all achieved reduction.
Strictly identify non-performing loans and the ratio of overdue loans to non-performing loans is 75%, which is lower by 7.2% compared with the end of last year. The risk offsetting ability continues to be improved. The provision coverage ratio and the loan to sound ratio continued to rank first in comparable competitors in the industry. Promotes the integrated management and control of risk to penetrate the management of RMB 10 trillion market business assets to ensure the market risk can be clearly seen and managed completely. Comprehensively deepen the construction of compliance system and strengthen anti-money laundering and sanction risk management. Continuously optimize the IT technology agriculture. Strengthen the construction of disaster recovery system and upgrade the network of security and data security defense system. Eight, is to strengthen capital conservation, capital refine management and the lean management have all achieved remarkable results.
Vigorously reduce the high capital consumption business, clean up inefficient and ineffective capital occupancy through multiple channels, and increase up by 11.44% compared with last year. The year 2022, we will implement the socialist modern country in an all-round way led by President Xi Jinping. We will also comprehensively implement the steady progress accurately and comprehensively implement the new development concept, strive for development, promote reform, strengthen management and risk control to write with our full effort a new chapter to high-quality development. Promote the construction of world-class commercial bank groups to achieve new breakthroughs and create greater value for the country, society, and shareholders. Thank you so much.
Thank you so much for Mr. Zhang.
Just now, President Zhang gave a comprehensive introduction of the bank's performance in 2021 from the aspects of serving rural revitalization, serving the real economy, promoting the fast development of green finance, strengthening science and technology empowerment, and strengthening customer first and empowering because of science and technology and the industrial restructuring. He has given a very comprehensive introduction of all the performances and also look forward to the next step. With very concise introduction and complete conclusion, I believe you definitely have been impressed by his introduction. Thank you, Mr. Zhang, one more time. Now we will come to the Q&A session. In order to take care of all the friends attending the meetings as much as possible, please only ask one question. When you ask questions, please first share with us who you are with and the organization and your name. So now let us have with us the first question. So hello, if you want to raise a question, you first press number one and star. So now let's have CICC, Zhang Shuai.
Hello. Thank you so much management team for giving me this opportunity. I am analyst from CICC. First of all, I would like to congratulate the bank on this great performance, especially after shouldering a lot of strategic tasks of China. 12% of the profitability increase is actually definitely the best of the past few years because the financial data has just been released. We really wanna know the detailed information and if you help us to share with more, how do you view this 2021 profitability? For the breakdown of profitability, what are the driving forces of that?
I also believe for the capital markets, there are also a lot of investors really are interested in this reduction of taxation and giving the preferential profitability allocation. Please give me a looking forward and predictability of this profitability in 2022.
Thank you so much for Mr. Zhang Shuai from CICC for the first question. I would like to have with us Mr. Zhang Qingsong to answer the question. Thank you so much for the question, Mr. Zhang Qingsong.
For this question, I would like to talk about the four aspects of the answer. First is our overall profitability. For 2021, Agricultural Bank of China, we have achieved the steady growth of asset quality. Comprehensively speaking, it is quite exceptional financial performance.
Full year, the total profitability has exceeded RMB 719.9 billion profitability. It's up by 11.8% for the net profit, reaching RMB 214.19 million. For the CAGR growth is 6.6%. It's also the record high in the past few years. This is the overall profitability. The second aspect I would like to answer the motivation and driving force of this. There are three. First, we continue to strengthen our support of real economy development. For 2021, Agricultural Bank of China, we have this RMB 27.2 trillion every day. It's up by a significant percentage. Based on this total scale, we have RMB 57.8 million interest growth.
The second thing is about this middle key business has seen steady growth. We have seen this commission income, CNY 8.3 million, up by 7.8% YOY. For Agricultural Bank of China, we have this online finance consumption finance have seen great growth. The third driving force is other income. Because of this decline of the market interest rate, we also have achieved quite high growth. For this non-interest revenue, up by 19.7%, it's 2.5% higher compared with last year. This is a lot of like evaluations, assets, because of this preferential external overseas interest influence. For this non-interest revenue has seen quite high growth. This is the second part of my answer. The third, I would like to say that it's about reduction of taxation.
What is the influence of that policy? My direct answer is for this reduction of taxation, so combined with the overall development of Agricultural Bank of China, it's actually with a complicated one. Finance and real economy are having the complementary relationship. Now, we are under this great pressure of the macro economy. For part of the company, especially small and medium-sized companies, individualized companies, they have suffered some difficulties. We are an SOE. We have the responsibility, and we also have the capability to give them offer and help. Looking back into the relationship of previous and the future, this is the must-take decision to reach the mutual development. In the past few years, we always have taken this down-to-earth practice to reduce the taxation. For the efficiency and quality of our operation have also been improved. Before 2021, the previous...
For development of us. The last is about the prediction of quality development and also lower cost, control risk, and improve efficiency. Comprehensively improve this financial performance indicator to step up a new high.
Thank you so much, President Zhang. Now let's have with us the next question. Next question is from Xinhua News Agency, Li Yanjia.
Thank you. This is journalist from Xinhua News Agency. My question is about this, loan. Since the fourth quarter, so many banks have already stated your attitude about optimizing the structure. Can you talk about this, the 2022, the key loan issuance direction? In the past few months, what are the loan performances and what is the overall annual growth target of loans?
Thank you so much for Madam Li from Xinhua News Agency for this question. We will have with us Mr. Zhang Xuguang, Vice President.
Thank you so much for your question. In 2021, at the end of last year, the overall loan scale is CNY 11.2 trillion, up by CNY 2 trillion, RMB, and 13.2% compared with that of last year. I would say that it's reaching a record high. There are six different characteristics. First is focusing on this main business of Agricultural Bank, strengthen this loan support of rural revitalization. Until the end of last year, we have CNY 6.2 trillion. It's more than CNY 900 million RMB increase compared with the average level by 4% higher compared with the industry average. I would say that for this balance of the rural revitalization loan, for the scale and increase speed have all reached a record high, up by 36%.
For the key project support and for the sustained support increase of the business, we also have reached a steady loan support. Carbon peak and carbon neutrality targets, we have vigorously improved the green economy. Compared with last year, it's up by CNY 42.9 million. This science and technological innovation loans and manufacturing loans is CNY 1.7 trillion and up by CNY 27 billion increase compared with early days of 2021, up by 18%. For small, medium-sized micro business, compared with the end of last year, it's up by 32,700 households compared with the end of 2020. For this non-inclusive loan, compared with last year, it's already up by CNY 39 million.
We will still conscientiously implement this decision-making of CPC and all the regulatory requirements of security regulation and for green management, green economy, small and medium-sized developments, and rural revitalization. We will support more for those weak assets. Until the end of February, all the loans have already achieved a steady growth. Compared with first days of 2022, it's up by RMB 69 million. For the entire year of 2022, we will actually stick to steady growth. With steady growth as the basis, we will strengthen this loan issuance to facilitate this microeconomy development. We think the increment of the loan will be higher than last year, and the growth rate will be higher than 10%. Thank you.
Thank you so much for Mr. Zhang Xuguang. Now let's have with us the next investor. The next one is from Wen Wei Po. Madame Luo Hongxiao.
Hello, I'm journalist from Wen Wei Po Newspaper. I have noticed that for last year, non-performing loans have already dropped by 14 BP. We also have seen this quite good trend. I want to know that for 2021, what are these regions and the industries having this non-performing loan, and how do you look forward to this year's trend? Now, what are the regions and the industries that you want to pay attention to? What are the measures that you could improve this overall beneficial and advantageous trend of that?
Thank you so much for this question. Here, we will have with us Mr. Zhang Qingsong to answer this.
For asset quality, this is a very big issue and concern of every corporate Agricultural Bank of China. It's already seventeen point two trillion RMB for the loan scale at the end of last year. For the speed and the scale have already been accelerated and broadened. Generally speaking, we could have more and more, actually big base and then more and more. The prospect, I would like to do the report. First of all, a good improvement of the quality. First of all, for this non-performing loan, at the end of 2021, it's 1.43% of this non-performing, and it has already dropped a big percentage with a total scale of RMB 24.58 million.
Comparatively speaking, YOY, it is lower by CNY 18.1 billion, and the newly increased non-performing loan is 0.9%. YOY decline is 0.7%. For this overdue and the concerned loans have all reached the reduction. This is what I say it's a prerequisite indicator until the end of 2021. The overdue loan is CNY 184.9 billion. The percentage of this overdue is 1.08%, dropped by 0.21% compared with early days of 2021. Concerned loans for the balance is CNY 283.1 billion, dropped by CNY 51.3 billion. The rate is 1.48%, dropped by 0.53% compared with early days of 2021. Asset quality has been significantly reflected.
Until the end of 2021, the overdue and concerned one is 74.24%, dropped by 7.18% compared with early days of 2021. For risk management and predictability, I think our capability has been further strengthened. For multi times coverage, it's 299.73%, up by 33% compared with early days of 2021. For multi-time loans, it's 4.3%, up by 0.13% compared with early days of 2021. This is from multi dimensions that I have prescribed this, the overall quality of our assets. I have already reported that we have already over CNY 700 billion for our revenue, and the next one is about multiple loans. Balance is also over CNY 700 billion. From...
Combined with this, concerned one is less than CNY 500 billion. For our multi-time balance, it's over CNY 700 billion. This is how we could offset any possible risk, and this is the reserves of that. Now I would like to talk about some overall asset quality prospects. Generally speaking, when faced with very complex environment, for Agricultural Bank of China's asset process, we still are very confident. First of all, for the overall stability of Chinese macroeconomy, we are very confident. Second of all, we are also very confident about our own risk offsetting and risk management, we are very confident. Here, I would like to give a very comprehensive report. About the stability of that, we believe China is still in this significant strategic opportunity. The basic strategy of economic development has not been changed.
Although amid the economic development, we will have transient challenges and difficulties. However, with the central government's overall tone of stability and stable growth, we believe the Chinese macroeconomic portfolio will still have this very stable development. For this overall development, there are several aspects that I would like to report. First of all, we would like to implement the strategic direction given by the central government, and also having this detailed and differentiated, and refine the lean management of all these. From this credit issuance and risk offsetting, risk alleviation, and all these aspects for the whole process. This is for the basis of our credit management. Second of all, we are constantly strengthening this credit risk. In 2021, we have promoted this main creditors responsibility system. We also have promoted this revolution of the evaluation system and the structure of all that.
We have further consolidated all the different local banks and the loan management for this specific responsibility and credibility. The third aspect, Agricultural Bank of China has deepened the digital management transformation. For this, forward and in advance risk management and implementation of that to establish this credit management platform to realize this online and offline integrated management. The fourth aspect is we have focused on this key aspect, focusing on this, scanning of risk and the pre-judgment of the risk for real estate companies, micro and online loans, and the local government risk prevention. For the possible risk management, we have this, name-based management and accelerates the alleviation of them to make sure that we will have this early discovery and early treatment.
The fifth aspect, we continuously promote the utilization or optimization of loan structure for different regions. For different regions, significant strategies, the provinces and the cities, the increment of loans takes 91.03% of the overall loans. For two high and one new industry percentage dropped by 0.93% compared with early days of 2021. For the speed of loan issuance is lower than the average increase is 7.65%. For customer structure, for internal evaluation of A-plus customer loans taken up as high as 80% of this increment loans. For the existing ones, it's approaching 75%. This is what we call about legal person loans.
Agricultural Bank of China has always paid a lot of attention to individual loans, including the farmer's loan and the expansion of farmer household loans. For this individual farmer loan and the farmer household loans have also seen steady growth. For the existing five different aspects, I have already talked about the overall positive prediction. I am very confident to say that. From these five different aspects I have given the due responsibility and explanation. This is what I am doing the report, and this is also my commitment. Thank you.
Thank you so much for this very comprehensive explanation. Now let's have with us the next one is from Financial Times, Zhuo Zi.
Hello to the management. This is journalist from Financial Times. My question is about personal mortgage. For 2021, how is this mortgage profile?
In the first two months, have you felt any pressure of that? How do you control the overall issuance of the mortgage? What is the strategy change of the mortgage, and what is the key direction of this mortgage issuance?
Thank you so much. Here, we would like to have with us Mr. Cui Yong, Vice President.
Thank you so much for paying a lot of attention to individual mortgages. Already for nine consecutive quarters, we have already achieved a very good one. For 2021, we have CNY 1.1508 trillion for real estate personal housing mortgage. It's already up by CNY 50.2 billion. For this newly issued mortgage rate is 5.46%.
The risk rate is about 0.36% lower by 2 BP compared with last year. For the first three months of 2022, for the cumulative issuance and the newly added ones, it still maintained a quite stable growth. For 2022, we will continue implement this, real estate macro control regulations and to do a cautious work of the issuance of housing mortgages. There are two key aspects. First is accurately control this, cautious management and the guidance demand to implement differentiated mortgage strategies to focus on those improvements and the rigid demand. To make sure that when we are totally compliant with the regulations and the rules to realize this monthly, quarterly, and systematic stable issuance. This is the basis of our business. We have already designated this, housing mortgage for farmers as an exclusive product.
For those farmers and users, having the ability of acquiring real estate and also being compatible with this housing purchase regulations, we will actively serve them and improve their livelihood with our financial services.
Thank you so much for Mr. Cui Yong. Now let's have the next question. The next is from UBS, Wang Baoyan.
Hello, Wang Baoyan. I am from UBS, analyst Wang Baoyan. Thank you so much for management for giving me this opportunity. My question is about inclusive finance. I wanna know that for 2021, for inclusive finance, what is this increment of that, and whether the profit can cover the cost, and what is the quality of inclusive finance? How do you deal with all the difficulties and challenges and this year's target of the development?
Thank you so much, Madam Baoyan from UBS.
For this question, we will have with us, Vice President Cui Yong to answer this.
Thank you so much for the host. For this question, I think there are many points. I would like to talk some different five aspects to do this introduction. First of all, I think for 2021, we have given full play to this multi-channel and with this comprehensive online and offline development. I think we have comprehensively realized this central government and our board of directors, the yearly targets have reached the high-quality development of inclusive finance. There are several data that I'd like to share with you. Until the end of last year, for the quality scale. It's already RMB 1.32 trillion.
With the increased rate of 39%, with the total amount of RMB 370 million. For the consecutive three years, we have reached over 30% of increase. From customer aspect, it's already 1.91 million households, up by 0.35 million households, with the service coverage being expanded to a further extent. The second dimension is for last year, for this inclusive finance for small and medium-sized one, it's a 4.1% of the loan rate interest rate is being stable and being reduced. From the cost, which we all pay a lot of attention to, actually we have already been encouraged to have this small-sized loan, and for the preferential inclusive finance we have also reduced the interest rate.
For tax businesses, they have also adjusted our taxation and fees to lower the fees. All these have already effectively supported the sustainable and comprehensive development of this inclusive finance. We also have actively improved this digital transformation for this operation cost and the risk cost of inclusive loan has all been reduced. With this policy support, Agricultural Bank of China is confident to realize this expansion and lower the cost and to improve the quality. Third aspect from the asset quality, at the end of last year for this, the non-performing rate is only 0.73%. It's dropped by 0.22% compared with last year. With our internal evaluation, I think the overall risk is manageable. For the fourth dimension is for the preferential micro one, it's with a small scale and low capability of anti-risk.
I would like to say that from the overall demand, for this overall inclusive finance, there is still big space for that. There are some data that I would like to share with you. From the end of last year, 2021, for the overall market, I would like to say that we have 150 million households. For individual business owners, it's about 100 million households. For small and medium-sized legal persons, it's actually 90% are all small, medium-sized ones. For this 150 million households are the main markets for the entire banking industry. We have given them financial support with those demands and also having our financial services. It's about 33 million households. It takes about 20% of the entire market.
Amid this 20% for our Agricultural Bank of China, we are serving a big amount of customers. However, we only serve 1.92 million. You can see that the demand of the customers and for the scale of our service, there is definitely huge space for such development. For the so many years, our Agricultural Bank of China has still stuck to this small size one. I would say that we only have about roughly 0.6 million per household on average. For all these aspects, based on this internal arrangement and the management team, policy design, and we are also accelerating this digital transformation. With digital methods, we could realize this inclusive finance to improve the quality, expand the coverage, and lower the cost. The government is also boosting the overall financing platform.
Agricultural Bank of China will actively improve the support and strengthen the data analysis to comprehensively improve the capability and the risk control competence. The fifth aspect is for the next one, we will still stick to this being stable while controlling the risk management. We also will have this precise positioning and discovering of all the customers and precisely control the risk. At the first class, inclusive finance, and comprehensively realize that the government work reports about this increase of inclusive finance of small and medium-sized and micro businesses and have this sustainable high-quality development. Thank you so much for your concern, and I would like to welcome all your concern for all this society-wide inclusive finance. Thank you so much.
For Mr. Zhuo, now let's have with us the next question. Now let's have with us Richard Xu from Morgan Stanley.
Thank you so much for this opportunity. We have talked a lot about different things, and I definitely have already heard this a very big individual customers from Agricultural Bank of China. I wanna know that for Mobile Bank, what is the construction of that? For this overall scale and the MAU, and what is the status quo for the active users? Any other approaches to further improve the service of mobile bank and the product and the dimensions of that? Thank you so much.
Okay, thank you so much for Richard Xu from Morgan Stanley. Here, we would like to have with us Mr. Xu Han as the Vice President.
I would like to answer for 2021 for this mobile bank construction.
Until the end of 2021, our personal mobile bank is already 411 million, up by 55 million. We have this individual mobile bank reaching over 100 million. As I said, this is definitely ranking the top of this entire industry. Compared with last year, 2020, it's up by 49.46 million households. It's up by 13.58%, so reaching CNY 86.27 trillion. This is definitely very worthwhile to mention. In order to realize this result, we have done three aspects. First is we strive to have a more excellent working process. Last year, we have this version 7.0 of our mobile bank. We have done 10 times of the major upgrading, and for this speed and the basic structure have been significantly improved.
We have got this cloud assistance and all kinds of natural verbal answers, and we also would identify their demands with this verbal interaction, having this deposit checking, statement checking, and for this time and efficiency to have realized this ecosystem of micro mini program and applications of mobile bank. We have focused on this rural area of services. We have this rural revitalization wealth management and inclusive preferential rural loans and preferential spots just exclusively owned for the rural. We have already over 6 million users for the rural version of the mobile bank. For this industry, we have first to launch this one button connected to person customer service assistant. For this transferring of money and to solve this language barrier of different minor ethnicity users.
Third is to improve the value creation, to have this digital characteristics once and then to have this analysis of expenditure and income, and also have this insurance product and also have this wealth diagnosis and asset diagnosis. In 2022, we will carry out the continuous improvement and optimization of that. First is optimization this customer scenario expansion to enrich this scenario and also to comb through all those working scenario, living scenario to improve this smoothness and convenience of that to be based on this high quality and easy-to-use, convenient-to-use quality and improve the overall loyalty and the satisfaction of the users, and have the differentiated diversified customers and services.
Faced with the rural area and the farmer and the rural region to also faced with the silver hair people and for all those remote areas, minor ethnicity users, and also have the Tibetan language, Inner Mongolia language, multiple language services faced with this rural and the urban ones to have this, individual exclusive interface of different cities to have this online/offline integrated service platform to strengthen this business sites and inclusively owned services, and then to have this, overall improvement of the coordination and the collaboration of different sites. Thank you so much. That's all for my question.
Now let's have with us the next question. Now let's have with the Bank of America Merrill Lynch.
Winnie Wu, thank you so much for this question. I would like to ask something about the capital management.
I'm very happy to see for our core management, it has a significant improvement of the fourth quarter. I would like to ask for 2021, for this wealth value increase rates being fast, what is the reason for that? And what is the arrangement and the plan of that? And then for this TLAC requirements, do you have this asset increment policy and plan?
Thank you so much for Ms. Winnie Wu from Bank of America Merrill Lynch. Now let's have Mr. Zhang Qingsong.
Thank you so much for your question. From four aspects, I would like to do the answer. First of all, Agricultural Bank of China sticks to this asset management confidence and optimize this long-term mechanism of assets and to improve the level of assets liquidity.
Until the end of last year is 17.13% of the whole rate, up by 0.54% compared to the end of 2020. For 13.46%, up by 0.54% compared to last year. For this, the core operative asset liquidity is 11.44% compared with the end of 2022, is up by 0.44%. For this, asset abundance increase is mainly attributed to this overall inborn strength of asset attraction and this asset conservation strategies implementation and this outbound. It's about this innate growth of asset has been improved continuously. In 2021, we have continuously expanded this strength of serving this real economy. For this, loan business with quite high profitability is up by 3.3% compared to last year.
247.2 million RMB up by 2.53 million. It's up by 11.7%. With this similar dividend issuance, the overall profit is higher than 11 million RMB. It's a year-on-year growth of 1.96 million RMB. For the abundance is actually higher by 12 BP. For this, the capital conservation strategies have been effectively implemented, the continuous optimization of asset structure until the end of 2021. Low asset individual loans percentage compared to the end of 2020 is up by 0.5%. For national bonds, security bonds, and financial company bonds, compared with the early days of 2021 is up by 1.7%. You know, for national bonds, it's zero weight, and it's also very low weight of this security and financial bond.
At the same time, we also have strengthened for this low efficiency or non-efficiency assets. We cleared all these percentages and all this implementation of the policies of expenditure conservation, so it has increased this 28 BP of this overall core business asset. The third thing is we have realized this internal individual development. For 2021, Agricultural Bank of China percent less than the speed of the asset growth. For this overall percentage taken by that, for this overall one is 61.4%. Compare with early days of 2021 is down by 1.5%. This is for outbound asset has been replenished. We also have issued this perpetual bond because of the market situation. This is the first point of my report.
Second one, we have stipulated this 2022 to 2024 asset plan. For our asset plan, compared with last version of the plan is up by 0.5%. That is to say, for this new version, the core Tier 1 assets will be no lower than 10%, 11%, and 13%, respectively. The last one is about asset allocation and liquidity. The third aspect is about for this next step of the target. We have concerned that we will continue the optimization of asset management and consolidate this up to standard standards. The second one is about this, having this replenishment of outsize support and then focus on the market, seize the market opportunities to rationally stipulate the policies and implementation of that. Lastly, about financial replenishment, I would like to do the following conclusion.
Agricultural Bank of China will be based on ourselves, comprehensively improve the asset management competence and to have this, demand and supply balance this innate cycle and for other kinds of assets based on the market situation to have appropriate at a moderate pace. Support replenishment. Thank you.
Thank you so much. Now we will have with us the next question. The next is from Citi, Zhong Huajia.
Thank you so much for this question. I'm Zhong Huajia from Citi. I would like to ask about this, interest margin and interest gap. Can you talk about the 2021, this net interest gap, and then for this, liability cost and then for this LPR. We all have this slight reduced. How do you talk about this, new gap of that? Because we are in this decline of interest trend.
Now let's with the Vice President Zhang Yi to answer this.
Thank you so much for your question. It's about this net interest gap. For the last year, we have reduced this net interest gap. This is in line with the overall industry trend. In the past few years, we are seeing this general trend of interest being lowered. The explanation for that is this comprehensive and overall trend. Last year is 2.12%, down by 8 BP. From revenue and profitability, for liability, and it's all down by 5 BP and 3 BP. For the assets, profitability in the downward trend is actually the main reason. From the assets decline, we will analyze the reasons.
On the one hand, it's about this interest rate is down by 9 BP. One is about Agricultural Bank of China comprehensively strengthen our reduction of fee and lowering this newly issued loan reduction. The second one is about the 2020 LPR decline is this release of the cumulative effect. You know that in 2020 LPR being lowered, it's down by 30 BP. For five-year LPR is down by 15 BP. Especially first quarter of last year is this fixed pricing of housing markets. These have all reduced our profitability. It's actually down by 15 BP. This is about this interest one. It's down by 9 BP. The next one is about the overall structure optimization. It's up by 4 BP.
We have already mentioned that for the overall structure optimization and the conservation of the asset, it's also improving the interest. We have this increasing loans percentage, and for this high interest rate, loans have all been increased in its overall coverage. I would like to report it's mainly about the asset influence. Second of all, I would like to report for this 2020's prediction of the interest gap. We expect for our bank's gap will still go down. However, for the overall trend is obviously going stable because since December last year, for one-year LPR, five-year LPR have all been down by 15 BP, and it would lower the profitability of our asset aspect. However, since June last year, for the reform of deposit interest, it has significantly stabilized this liability.
From asset and liability, it will lower the comprehensive financing cost of the company. We have given it a bigger space. From asset aspect, we will expect this slight decline of that. We will continue to give profit to the real economy. We expect this newly issued loan and this newly issued investors loans, the interest rate will be lowered. This is making the decline of loan and investment. However, with the optimization of investments and the overall loan will be still further improved. To a certain extent, it will lower the pressure of this declined interest rate, and it would also stabilize the cost. For the overall revolution of this deposit incentive would have seen accumulated ones. When we reprice this deposit, we will alleviate this rise of the pressure after this two-year and three-year deposit.
You have already seen that the market-based interest rate is going down as a continuous trend. We also have this reduction of the overall cost. It would make us alleviation of this liability pressure to make it very stable. This year we will further strengthen this net interest gap to alleviate the pressure. From two aspects, on the one hand, it strengthen this two-way combination, and with this optimization of the structure to include this overall retail banking strategy to improve the overall proportion and the optimization of that, and also strengthen and accelerate the digitalized operation. To have this low-cost and the short-term loans and to have this interest rate risk management and to alleviate the pressure of the declining interest rate.
Thank you so much, Mr. Zhang Yi. Now we have with us the next one. The next is from First Finance, Xu Tianyan.
I am the journalist from First Finance. My question is for 2021 for green finance, what are the key selling points and what are the approaches? What is the 2022 target and the specific approaches?
Thank you so much for Madame Xu from First Finance. For this question, we will have with us Mr. Zhang Xuguang to answer this.
Thank you so much. We pay a lot of attention to that, and we constantly promote that and to have this comprehensive optimization and revolution of green finance until the end of last year, the balance is already reaching CNY 1.98 trillion, up by 30.6%. First is speaking to the strategy leadership.
For Board of Directors, we have already issued the Committee of Sustainable Development and the Green Development. We are the first ones to have this working committee of carbon management and the green development. We have put this green finance as one of the three key strategies. The second is stick to innovation driven. We have successively promoted wind power, solar power, different loan and credit policies of this aforementioned new energy and for green husbandry, green rural industry development and for this beautiful rural loan and rural revitalization loan and the low carbon loan, et cetera. We also have a lot of green bond investment businesses. Third is stick to this risk management, strengthen this social coverage of risk management and this whole process risk and control.
For non-green environmental ones and for high energy consumption to have limited one and to strengthen pre-warning of that. The fourth is to promote green finance and connecting to internet. For 2020, we will carry on low-carbon sustainable one. It will include carbon peak and carbon neutrality to promote the healthy and sustainable development of green finance and to comprehensively implement strategic allocation of carbon peaking and carbon neutrality, and to first focus on healthy development to lower the carbon emission and guarantee the food security, energy security, to accelerate the pace of reduction of costs and the carbon to facilitate the restructuring of green finance, and then continuing the restructuring and optimization of the scale and the financial support to be expanded.
To guarantee that the speed of a green finance loan will be higher than any other of the other products, and to have the specified, carbon emissions and, energy reduction, we have already implemented several products in this aspect. Next one is actively promote this, green financial product revolution and to cover green finance, green bond, green securities and green foundation. This, diversified financial portfolio and to strengthen this global and nationwide carbon market. Lastly, to rigidly implement this carbon emission and energy implementation to improve this whole system, energy reduction and to construct this green bank. Thank you.
Thank you so much for Mr. Zhang Xuguang. Now let's have with us the next question. Next is the 21st Century Business Herald, Li Yan.
So this is from 21st Century Business Herald. I would like to ask for this real estate loan issuance for 2021 and for this asset quality, has it been influenced by this asset market? How do you look forward to this risk of that and any changes of this loan issuance policy?
Thank you so much for Mr. Li from 21st Century Business Herald. Here I would like to ask Mr. Cui Yong to answer this.
I would like to answer the question. Thank you so much for Mr. Li, the journalist. I read your paper every day, so I think it's quite a challenging question, but I would like to try to answer this.
For 2021, we still stick to this, not focusing on this investment aspect of this real estate market and then to manage this credit budget to strengthen this, livelihood guarantee and shared ownership, loan guidance and try to satisfy this reasonable, residential demand for this, balance of real estate ones and for the two concentrated indicators have all been lower than this, upper limit. This is the only one, the real estate concentration level, but the two indicators have all met the standard. Until the end of 2021, we have this legal person balance is CNY 430.3 million. It's up by 17.7%. Now performing one is not too high. With this downward development and this risk exposure of certain real estate companies, for the non-performing, loans have been seeing a rise.
However, the overall risk is controllable. Here I have some data to share with you. For this overall bank, non-performing rate is only 0.64%. For individual loans is better than this, legal person development loan. Why do I say it's comprehensively controllable? Because for our bank, we have strengthened this entry management of real estate market. Constantly strengthened the source management of loan and credit risks, and also strengthened the mortgage vouchering and the asset things and have the risk management sticking to this different threshold and the time points. Also go with this different local departments to guarantee the delivery of the houses and delivery of the guarantee of livelihoods, and have this alleviation of the pressures and offsetting the risks.
For the overall risk aspect, I would like to say for the overall real estate industries market is still concentrated on a limited amount of large-scale real estate development developers, especially those with overseas wealth management and overseas trust with this non-bank source, big percentage of their financing system. Since fourth quarter of last year, the regulatory departments have already taken multiple measures to lead different commercial banks to satisfy this reasonable financing demands. However, I think the expectation of the old industry is still being remedied. For the speed of investment has not been reversed. For certain risk-exposed developers and with the tension of their cash flow have not been alleviated, I still expect that they will still suffer from certain risks to be exposed.
For the loans of all those different larger scale developers, we mostly have collaterals and the risk of loans are still controllable. The third aspect is looking into 2022. For Agricultural Bank of China will rigorously implement this central government adjustment of the market, still sticking to this stabilizing of this price of real estate unit price and to control the risk prevention and control. First of all, we will center this livelihood guarantee feature of real estate market to rigorously support the construction of lease and purchase, and mainly focus on those rigid support and this basic livelihood support products to guarantee the reasonable development of that. For the real estate concentration, we will make it be compatible with that.
Next one is about going back to the source of real estate projects and then to further complete this post-loan issuance one, then manage this whole process management, and then based on this merger and acquisition, to actively promote the alleviation of the risk to have this comprehensive management and health management. Thank you so much. That's all that I can talk about from these aforementioned dimensions.
Now let's have the next question. Now let's have with us Hong Kong Business Daily, Deng Jianle.
Thank you so much for management team for giving me this question. I'm Deng Jianle. I would like to talk about the rural revitalization results in 2021 and for this I hope that the management team could also look forward to this. How can we, based on this number one document, to carry on the implementation of rural revitalization work?
Thank you so much for Madam Deng from Hong Kong Business Daily. Here we will have with us Mr. Zhang Qingsong to answer that.
Thank you so much for the answer. I think for the focus of our main business for Agricultural Bank of China, a very important thing is about. We hope that we could. For the early days of our press release, I would like to talk about several data and the business. I wouldn't talk too much about it because I've already talked a lot about the rural revitalization. Here, I would like to talk about several aspects. First of all, we could focus on this rural revitalization key financial services.
Last year, we have issued about this rural industry food security designated work plan. This cold chain logistics and agricultural food designated policies until the end of 2020. As the key aspect, the balance is CNY 113.78 million and up by 17.5%. The 20.6% of increase of rural revitalization for rural construction, the balance is CNY 1.28 trillion, up by 14.8%. The next one is the construction of the consolidation of poverty lifting. Agricultural Bank of China has established 11 different policies, 158 different financial support policies. We also have guaranteed this poverty lifted areas credit increase until the end of 2021. For the counties of the poverty lift one is 1.74 trillion RMB.
It's 1% higher than the average growth rate of the whole bank. For the key support counties, it's RMB 21.66 million, so it's 1.8% higher than the average of the bank-wide loans. Third is we comprehensively and constantly revolutionize this loan issuance to have this quite complete financial service system. For 2021, for this, headquarters and the different regional banks have already got 55 different featured three rural associated products. Until now, we have 10 100 billion level products. This is the restructuring and the breakthrough of this three rural products. Just now we have talked from different aspects to have shown that the digitalization of rural issuance and about this revitalization of that. Here, I would like to give you one example. I would like to say that...
For the end of 2021, it's already over 40% of the growth, serving 3.3 million households of farmers. You can calculate on average, so per household it's actually about CNY 0.15 million. I would like to say it's a very inclusive and preferential one. How can we do that? We haven't included that, and we still have so many different branches, and we have so many different small value loans, and they are very scattered. We use this combination of online and offline to use our mobile bank and with our digital risk control to do that. I would like to say that we have effectively do this, farmers loan, and then this is also a significant increase of first quarter.
Without digital transformation, Agricultural Bank of China hopes to do this, rural revitalization bank is very hard. We would actually be designated and devoted to this, focus and professional rural revitalization support bank. We need to have the digitalization. We need to improve the efficiency and quality until the end of 2021 for this county-level loan has up by 12.2%, higher by 3.7%. It's also higher by 0.1% bank-wide. For non-performing loan is 1.42%, dropped by 0.1%, reaching this five-year low, record low. It also has increased our risk alleviation capability. I would like to say that for county-level business, this is a very good responsibility taken by us to implement the national strategy.
It's also the strategy and competitive edge of Agricultural Bank. You can see that. It has given full play to this financial services to have this leading bank of serving this rural one. First is strengthen the support and consolidate this poverty alleviation results. Second is comprehensively focused on this rural revitalization, food security, industry development, and rural construction. Third, the adherence of innovation-driven service of revitalization of rural areas. Fourth is strengthening technological empowerment. Fifth is to strengthen the mechanism support. We will give this a preferential arrangement of county level loan. To have this financial resources and county resources, we will strengthen this different channel of county ones. For this, allocation and dispersing of the sites will be focused more on rural areas.
We will strengthen on this rural area talents and lead more cadres and staff resources to go to rural revitalization frontline work and to have this, enterprise starting. To serve all those, the different ones, it's already the overall grasp of that. For the national resources have all been supported to this rural areas one. For this traditional ones, including this, online and offline combination, and to have this, three different rural related ones, digital transformation ones. Also has this certain scale effect. It is implementing this, mission given by the central government. It has also been this, differentiated strategy, and it's also this, different selling point. Thank you so much for this exclusive and differentiated selling and operating one.
Because of limited time, we will just answer two last questions. I think I would like to give this opportunity to that. We would like to choose this top two questions, but they have not been covered. The first question is about wealth management. We have already noticed that in 2021, for this total risk management of rural wealth management and what are the influences. What is the development strategy. Whether Agricultural Bank of China would set this. For all this, we will ask Mr. Lin Li to answer that.
Thank you so much, and thank you so much for this rural wealth management. I would like to talk from four different aspects. First, it's about 2021 for farmer wealth management, the overall plan. All in all, we have three different ones. The first is we have already seen this operative.
The overall scale is CNY 2.2 trillion until the end of 2022. It's already over CNY 1.8 trillion. Compared with early days of 2021, it's over CNY 80 million, and it's up by 90%. It all has been cleared for this investment-guaranteed product. For ROE is 12.17%, and ROA is also 12%. For all those indicators have all ranked the top. Second is about this core wealth management competence. For investment one, it has already faced with quite comprehensive and complicated one. It has this fixed interest rate. On the basis of this, it has got this very cautious and public-founded security and the whole security one. From practice, we think for this strategy, it's still correct.
For the whole year, farmers' wealth management has already reached over CNY 60 billion. It's about 3.9% of interest rate. Over 80% of the products have already higher than the comparables in the industry. For the product issuance, we have constantly in which the six plus N product one, it has already got this wealth management and fixed profit and enhanced fixed profit, have all this balanced layout and have also promoted some preferential rural products, and the scale have all been improved. For risk management, we have strengthened this rigorous and stable operation, it has seen a quite stable performance. It has all never experienced this loss one. For the newly issued product and for our in-house security have all seen no non-performing ones, and it has not seen any default.
Third, serving the real economy. It has already got this top level one. For this overall policy support, with this designated issuance and increment to support this policy development. For the overall policies, there are three aspects. First, to serve this national, regional key strategy and the rural revitalization. For Beijing, Tianjin, and Hebei, the overall investment scale is already exceeding CNY 600 billion. We have invested and supported the first ever banking and financial sectors projects implemented at this provincial level foundation, with the overall scale reaching CNY 5 billion. We are actively supporting county level. County level service is already a very good tradition of Agricultural Bank of China. They have already purchased over CNY 900 billion, with the overall over 643%.
It has supported the real economy, and it has already got this weighted profit rate is only 3.61%. Compared with 2019, it has down by 60 BP. For this overall profit is already 5.1%, compared with 2019, down by 35 BP. This is the first part of my answer. Second part is, it's about this recent influence. I would say it's very important. With the financial management transition period being ended, it has already implemented this new net value evaluation measuring system. The characteristics have been shown that it's about this net value management. In the whole working process, we have also seen that for this restructuring of this net profit has already shown in three aspects.
The first aspect is about the wealth management difficulty is being improved. For this wealth management, you have to stick to this standard of this evaluation of the price. Second, to stick to this price change has been rapidly influenced on this net value of this asset management. Has already made it more sensitive, especially about stock market and bond market fluctuation. For those products, you could actually have a bigger fluctuation. Recently, we have seen this safety, liquidity and profitability have been enhanced. It requires us to stick to this customer first. We also have entered this new turning point. For this financial assets designation, to a certain extent in the future, for wealth management business, we will decide the retailing bank direction.
For the year 2022, for farmers' wealth management development strategy is to carry on the supporting of real economy and this inclusive finance, to be based on this, focusing of serving this whole real economy and rural wealth management will still strengthen our own support to the real economy. Like, Mr. Zhang repeatedly said, for rural revitalization and elderly care wealth service, we are focused on this farmers' wealth management to strengthen the knowledge and the capability of that. Second is to strengthen the investment and the management competence to do the three aspects work. First of all, we have already established this overall structure and system management, so to strengthen this long-term mechanism of rural and farmer wealth management and to comprehensively have this multi-market, this coordination confidence.
To have this liquidity-focused asset safety and comparable profitability, and to designate our efforts to make good products and to comprehensively make positive development of all the wealth management of all the farmers. For this aspect, we will focus on the establishment of that, so to have a better satisfaction of the retail and the niche customers of their wealth management demands. We have altogether over 20,000 bank branches. For this scattered and widely covered sites have offered the possibility to do that. Then it's over 800 million customers. We also have the early starter advantage, especially looking at last year for the individual customers, deposit has over CNY 1 trillion. Based on our digital transformation for mobile banking and the smart robot services, it has already over 187 million users.
Next one, we will strengthen the channel optimization to improve the online and offline omni-channel integration. Through doing this, we hope to stimulate the existing customers' demand. To the next aspect, we hope to serve the existing potential customers, to have this good circle and to expand this farmer wealth management coverage. The next question is about the establishment of this wealth management company. The overall headquarters of Agricultural Bank of China has already authorized the establishment of this JV for wealth management. We have already started one. Maybe it's quite good progress in discussion. I think we will fully establish and depend on the sales channels and the customers of our own bank to combine with this overall global management ideology and integrated management system.
We will also dedicate ourselves to offer this, high-quality wealth management product, and to have this ESG and other featured property management companies, and to have this, mutually beneficial and complementary one. That's all I wanna say. Thank you.
Thank you so much. Last question is about deposits. Investors ask that. For this overall trend is how and what is the overall deposit management, and talk about the overall trend of that and the whole, coverage strategy. For this, I would like to ask Mr. Zhang Yi, Vice President of that.
Thank you so much for your concern about the deposit. Deposit is the basis of all the different products and the businesses of that. We definitely pay a lot of attention to the development and the lean management of that. I would like to give you some data.
In 2021, the overall deposit balance is CNY 1.5 trillion, up 7.5%. Another data is the daily increment of CNY 2 trillion. It's very, very thrilling data. From customer structure, the overall deposit has already been maintained the top of the industry in a successive manner, and it's already reaching 8.5% of the increase rate. The second one is about our deposit accounts. Until the end of last year, it's already over 1.73 billion, and it's up by 55%. Next one is about county-level savings. It's quite fast growth. As Mr. Zhang mentioned, for county-level deposits, it takes a 43% of the overall one. These are the data that I would like to report. The next one is for the overall trend is how.
Generally speaking, from June 2021, the evolution of deposit incentive has evolved. From the interest rate, for the short term interest has been increased and the long-term one has been reduced. The overall purpose is to stabilize the overall liability level. Based on this kind of evolution, Agricultural Bank of China has also taken two aspects of the strategy. First is optimize our own interest rate system. First, concerned with this, upper limit of this long-term and short-term deposit, and it's still far higher than other competitors. We actively increase this competitiveness and incentive KPI. To lower the overall marginal cost of savings. Next one is to take this favorable opportunity of this medium- and long-term savings and then to invite them have the fast growth of that and then to realize.
Based on all these aforementioned ones, we have already got this significant reduction of the fixed-term savings. This is for the latter half of last year, the trend that we have maintained this slowed trend. For this year's savings and the deposits overall strategy you have asked. Generally speaking, for the overall digital operations and advantages, we need to continuously improve that. The third is to strengthen this repeated increased interest rate, and then to offer individuals and companies to have more compatible and adaptable development, to have this high-quality development of all that. We have also asked about the 2022 one. Because, as Mr. Zhang Xuguang also said, for 2022, for our savings and loans, we need to have this stable growth. For the deposits, has to increase higher than that.
This is a voluntary one. For this 2021 liability, you have asked a very good key question. You know, for this active one, compared with these Western banks, it's not low. However, with the multilevel optimization of all the banks, voluntary coverage scale of these domestic banks will be stably expanded. From strategic level, we will do that. Most of these one of the main supplements of that and actively implement that to have this flexibility of the cost and also to realize for this implementation, and we will utilize this reverse cycle and whole cycle.
Thank you so much. Thank you so much. Ladies and gentlemen, thank you so much for your 2021 conference, and thank you so much for the analysts and friends from the press and media for your continuous support.
Thank you so much for the management team for this splendid sharing. That's the end of today. If afterwards you have other questions, feel free to contact the bank's investment team and the media team. Thank you so much for the friends who participated today. Thank you so much.