Zheng Bin: Provide good financial protection for new cotton purchases to help Xinjiang cotton develop high-quality on the road
The 2021′ Xinjiang Cotton Industry Development Forum is underway. Zheng Bin, Vice President of the Xinjiang Branch of the Agricultural Development Bank of China, said that “the role of the main channel of cotton credit will be used to support the development of Xinjiang’s cotton industry He gave a keynote speech titled “QualityDevelopment” and introduced the work that the Xinjiang Branch of the Agricultural Development Bank of China has done, is doing, and plans to do in the future. The main points of the speech are summarized as follows.
First, we should keep our territory and fulfill our responsibilities to support the cotton target price reform. Under the guidance of national policies, in order to adapt to the new situation of cotton marketization, the Xinjiang Branch of Agricultural Development Bank of China has always regarded cotton credit business as the core, most fundamental and basic business. Especially since the cotton target price reform in 2014, the Agricultural Development Bank of China, based on the overall situation of Xinjiang cotton target price reform, has investigated and introduced a number of measures to support the market-oriented reform and development of Xinjiang cotton. Since the cotton target price reform, the Agricultural Development Bank of China has granted more than 400 billion yuan in credit to more than 170 cotton purchasing companies and issued more than 300 billion yuan in cotton purchase and sales loans. Each year, the purchases of companies supported account for more than 60% of Xinjiang’s total output. It plays the role of the main channel for supplying funds for cotton acquisition and the leading bank for cotton credit.
The second is to focus on early, fast and sufficient, and make every effort to ensure the credit funds for cotton purchase. At present, cotton purchase in Xinjiang has begun. Based on the new development stage and the new situation of the cotton market, the Agricultural Development Bank of China has made every effort to provide and manage cotton purchase funds in line with the requirements of early preparation, early investment, and guaranteed income. In terms of customer layout, we have completed the loan qualification identification of 156 cotton purchasing companies, ensuring that every major cotton-producing county and city has companies supported by our bank’s loans, preventing the problem of difficulty in selling cotton. In terms of capital supply, 50 billion yuan in credit funds have been prepared for the new year, specifically to ensure the supply of funds for cotton purchase in our region. In terms of credit policy, we emphasize customer-centeredness and implement one policy for each enterprise. In terms of financial support, in accordance with the principles of prompt start, grasping the rhythm, small amounts, and continuous funds, enterprises are supported to continue to promote the use of final settlement methods such as Speedway + online banking to improve enterprise settlement efficiency and safeguard the interests of cotton farmers. In terms of responsibility implementation, the first-in-command responsibility system is implemented, with leaders in charge taking command from the front. Each branch signs a cotton credit target management responsibility letter at every level, and makes every effort to do a good job in the operation of cotton purchase.
The third is innovation-driven to help the high-quality development of Xinjiang’s cotton industry. With the major strategic deployment of Xinjiang’s industrialized operations and the adjustment of domestic industrial policies, Xinjiang cotton has become more important in China’s cotton industry. The Xinjiang Branch of the Agricultural Development Bank of China takes the high-quality development of the cotton industry as the main line, focuses on the supply chain financial model, continuously innovates credit support models, promotes the combination of material flow and cash flow, uses financial products to open up all aspects of the cotton industry, and forms a head-to-head cotton The whole industry development pattern extends from the production and planting field to the textile processing and consumption field. In the field of production and planting, we focus on land, vigorously support the construction of high-standard farmland, land transfer and large-scale operations, support the construction of high-quality cotton production bases in Xinjiang, and promote green and sustainable development. In the field of cotton purchase and processing, we will make every effort to provide cotton purchase funds, give full play to the main channel for cotton purchase fund supply and the leading role of cotton credit, and effectively protect the interests of cotton farmers. In the field of circulation and textiles, taking the opportunity of Xinjiang’s vigorous development of the textile and garment industry and the employment of millions of people, and based on the existing cotton purchase and sales business, we will actively explore and expand support for textile and garment industries Effective ways and means for enterprises to open cotton loans and cotton warehouse receipt financing loans to accelerate the transformation of local sales of Xinjiang cotton and solve the production liquidity needs of cotton textile enterprises.
In 2021, the Agricultural Development Bank of China will further optimize and improve the hedging loan business process and system, expand the scope and scale of business development, guide cotton-related enterprises to reasonably avoid spot transaction risks through futures hedging, broaden cotton sales channels, and through cotton yarnThe warehouse receipt financing and loan model opens up supply chain congestion points in the cotton yarn industry chain, ensures the normal operation of cotton market entities, and accelerates the construction of Xinjiang’s cotton industry chain and supply chain.
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