The Xinjiang Branch of the Agricultural Development Bank of China has prepared 50 billion yuan in credit funds to fully guarantee the purchase of cotton
Recently, the Xinjiang Branch of the Agricultural Development Bank of China has prepared 50 billion yuan in credit funds for cotton purchase in advance, and plans to invest no less than 8 billion yuan before the National Day, so as to achieve “money waits for cotton”.
The bank has sent people to major cotton-producing areas to conduct research on many occasions, organized cotton purchase credit symposiums and dispatch meetings, etc., to conduct a thorough investigation of cotton planting area, output, etc. in advance; by convening government-bank-enterprise symposiums, and Local governments and enterprises have reached a consensus and formed a joint force to promote the orderly development of cotton procurement work; strengthen the implementation of responsibilities, implement a “top leader” responsibility system in cotton procurement, leaders in charge of command from the front, and all levels of banks sign cotton credit target management responsibilities This ensures that each enterprise and each loan link has its own responsible person. Currently, a total of 156 companies have been identified as eligible for cotton purchase loans in 2021, ensuring full coverage of the main cotton-producing counties and cities.
The bank insists on paying equal attention to customer marketing and services, and formulates customer visit plans in advance. Key group customers are marketed and formulated by the Agricultural Development Bank of China Xinjiang Branch, forming a good situation of linkage and coordinated advancement between the three levels of district, prefecture and county banks; strengthening Customer management, in accordance with the principle of “one enterprise, one policy”, comprehensively implements preferential policies in terms of comprehensive guarantee rates, interest rates, etc., opens up a green channel for loans for enterprises in southern Xinjiang, implements priority loan review, and drives industrial assistance with credit policies , fully mobilize the enthusiasm of enterprises to purchase cotton from assisted cotton farmers and absorb assistance workersemployment, and strongly support Xinjiang to consolidate and expand the results of poverty alleviation and effectively connect with rural revitalization.
In addition, the Xinjiang Branch of the Agricultural Development Bank of China promotes the use of “Suhuitong” to improve the efficiency of corporate fund settlement; makes good use of the “agricultural product purchase fund supervision platform” to understand the payment progress and flow of cotton purchase funds in real time; continues to promote the “value-preserved loan” business to help Enterprises should reasonably avoid risks, expand sales channels, and promote the coordinated development of Xinjiang cotton futures and spot markets.
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