Xinjiang Branch of Agricultural Development Bank of China has provided more than 50 billion yuan in loans to support the acquisition of new cotton
Since this year, the Xinjiang Branch of the Agricultural Development Bank of China has provided strong credit funding support to ensure the purchase of Xinjiang cotton. As of November 29, the amount of cotton purchase loans reached 50.517 billion yuan, setting a record high since the cottontarget price reform, supporting the purchase of more than 2 million tons of cotton, further polishing the “cotton Bank” brand.
The Xinjiang Branch of the Agricultural Development Bank of China tightens its responsibilities and implements a “top leader” responsibility system. Banks at all levels sign cotton credit target management responsibility letters to ensure that the responsibility of each enterprise and each loan link is assigned to the person. Bank leaders at all levels led teams to the main cotton producing areas to conduct surveys, understand the cotton production situation and the operating conditions of purchasing companies in various places, and promptly conduct new year rating credit and loan qualification certification on 156 new cotton purchasing companies to ensure that every cotton purchaser in Xinjiang The main producing counties (cities) all have enterprises supported by loans from the bank, and sufficient credit funds are prepared before the cotton is weighed and purchased in September, so as to ensure that “money waits for cotton”.
The Xinjiang Branch of the Agricultural Development Bank of China adheres to the “customer-centered” service concept, launches differentiated preferential policies, and gives greater preference to supporting enterprises in terms of comprehensive guarantee rates and interest rates to reduce corporate financing costs; continue to promote the use of The “Shuitong + Online Banking” settlement service effectively ensures that cotton farmers can get their money when they sell cotton.
At the same time, the bank continues to promote the value-preserved loan business, further optimizes and improves the value-preserved loan business process and system, expands the scope and scale of business development, and broadens cotton sales channels; it launches cotton, cotton yarnThe “warehouse receipt financing” model develops credit business focusing on supply chain finance and promotes the connection between supply and demand of cotton upstream and downstream enterprises. So far, 1.927 billion yuan of cotton warehouse receipt financing loans have been issued. In addition, it also helps enterprises prevent and control market risks and achieve stable operations by establishing effective management models such as “double knot and zero”, third-party supervision, and ten-day risk monitoring.
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