Promoting the development of the entire cotton industry chain, Agricultural Bank of China Xinjiang Branch continues to improve the quality and efficiency of financial services

Promoting the development of the entire cotton industry chain, Agricultural Bank of China Xinjiang Branch continues to improve the quality and efficiency of financial services

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Since the beginning of this year, the Xinjiang Branch of the Agricultural Bank of China has focused on the deployment requirements of the autonomous region’s cotton quality improvement year, giving full play to the advantages of urban and rural linkage, relying on the financing needs of cotton planting, production, processing, sales and textile enterprises in the entire cotton industry chain, and innovating financial products , expand service channels, provide financial supply to cotton farmers, cotton processing and textile enterprises, improve the quality and efficiency of financial services, increase credit support for the entire industry chain, guide cotton production layout to concentrate on advantageous cotton areas, optimize cotton variety structure, and improve cotton quality , vigorously promote the improvement of cotton quality and efficiency, and promote the high-quality development of Xinjiang’s entire cotton industry chain.

“New Mian Tong” relieves enterprises’ worries

The cotton harvest season is now approaching in Xinjiang. The cotton fields in the north and south of the Tianshan Mountains are filled with the joy of harvest, and there are busy harvest scenes everywhere. Data show that Xinjiang’s total cotton output is expected to reach 5.2006 million tons this year, and cotton production will have another bumper harvest.

The Aksu region is located on the northern edge of the Tarim Basin. It is endowed with unique water, soil, light and heat resources that are very suitable for cotton growth. It is one of the largest cotton-producing areas in Xinjiang and an important high-quality commercial cotton production base in the country.

“The cotton purchase period is the busiest time for cotton purchase and processing every year. The shortage of purchase funds has always been the biggest difficulty faced by enterprises. This year, the Agricultural Bank of China promptly granted us a credit line of 800 million yuan. Currently, a loan of 400 million yuan has been issued, which has solved the problem for enterprises. Due to insufficient acquisition funds, companies are now working hard to purchase seed cotton and process lint cotton. In addition, ‘Xin Mian Tong’ can be used repeatedly and multiple times within the credit limit. It will reduce corporate financing costs, ensure the capital needs for cotton acquisition, and completely solve our worries.” Cai Guanghui, head of Aksu Jin’a Cotton Industry Co., Ltd., said happily.

It is reported that the “New Cotton Tong” business is a financial product innovatively developed by the Xinjiang Branch of the Agricultural Bank of China based on the actual situation of local cotton in Xinjiang. The full name of this product is the “New Cotton Tong Warehouse Receipt Pledge Business”, which refers to the cooperation between the Agricultural Bank of China and the cotton trading market. A new cotton warehouse receipt pledge loan business launched by traders recommended by the trading market.

Since the first “New Cotton” loan was issued in 2018, Aksu Branch of Agricultural Bank of China has used “New Cotton” as a starting point to vigorously support the development of cotton purchasing companies. So far this year, the bank has issued a total of 6.3 billion yuan in “New Cotton” loans.

Benefiting from the loan support from the Agricultural Bank of China, the “silver” mountains in the factory area of ​​Aksu Jin’a Cotton Industry Co., Ltd. are now one after another, and the processed lint has been covered with “cotton clothes” and is ready for use.

Little cotton helps farmers embark on the road to happiness

It is understood that the Aksu region has excellent cotton resource endowments. The cotton planting area in the region has reached 7.5 million acres, accounting for more than 20% of the cotton planting area in Xinjiang. About 90% of farmers in the region are engaged in cotton production, and the per capita net income of farmers is More than 90% comes from cotton, and the cotton industry is of great significance to increasing farmers’ income and rural revitalization.

Wang Qiang, a large cotton grower who lives in Towank Kaldir Village, Kaltal Town, Aksu City, has just finished selling cotton from the cotton processing factory of Xinjiang Huilian Industrial Co., Ltd., and he is happily calculating the accounts: “At the beginning of the year, I With the support of a loan of 800,000 yuan from the Agricultural Bank of China, more than 1,600 acres of cotton have been planted. The cotton is mechanized from sowing to harvesting, saving time and effort. The yield per mu is expected to reach 400 kilograms. According to the current purchase price of machine-picked cotton, my The net income will reach more than 4 million yuan. This year’s cotton yield is good, the price is high, and the yield is bumper. No, the cotton funds have just arrived. The good cotton harvest makes our life sweeter and sweeter.”

The Aksu Branch of the Agricultural Bank of China relies on the resource advantages of cotton production areas to vigorously support the development of large cotton growers. In the past five years, the bank has issued a total of 1.5 billion yuan in cotton planting loans to farmers. This year alone, the cotton planting loans issued reached 460 million yuan. At the same time, we vigorously support the development of the cotton industry chain, with leading enterprises engaged in cotton processing, manufacturing, and sales as the core, and provide financing and supply chain credit support to the entire industry chain such as cotton planting, acquisition, processing, and cotton spinning. This year, the bank launched the “New Cotton Pass” “The loan amounted to 3.2 billion yuan, which has effectively promoted the development of the real economy in Aksu region. Cotton has become a “happy flower” for people of all ethnic groups in the Aksu region to increase their income and become rich.

Innovative services support the development of cotton enterprises

In addition to supporting cotton growers and cotton purchasing and processing enterprises, the Agricultural Bank of China Aksu Branch also focuses on the textile and garment industry base, increases support for the development of the cotton spinning industry chain, and actively innovates financial services New products, cultivate and expand the cotton spinning industry, extend and improve the cotton spinning industry chain, form a “one city, three parks” cluster development pattern of the textile and garment industry in Aksu region, and drive employment of surplus rural labor font>, accelerating the high-quality development of the textile and apparel industry.