Fujian Province’s 5 billion yuan textile, footwear and clothing industry bailout loan has been issued
On October 14, Fujian Province took the lead in setting up a special loan of 5 billion yuan in the country to rescue the textile, footwear and clothing industry. It has been disbursed and has benefited more than 280 textile, footwear and clothing companies in the province. The total accounts for about 1/5 of the province’s textile, footwear and clothing industry, covering upstream and downstream enterprises in the industrial chain such as chemical fiber, cotton spinning, weaving, dyeing and finishing, footwear and clothing, as well as supporting industries such as textile, footwear and clothing machinery, and industrial Internet platforms.
Recently, at Shishi Challenge Wolf Sporting Goods Co., Ltd., the smart workshop renovation is nearing completion, and the rooftop 1000kW distributed photovoltaic power generation construction project is also stepping up construction.
Challenge Wolf Company mainly produces casual sportswear and is the designated production partner for well-known domestic and foreign brands such as FILA, Disney, and Xtep. This time, the company was approved to apply for a 17 million yuan bailout loan for the textile, footwear and clothing industry. “Affected by the COVID-19 epidemic and rising raw material prices, the company’s demand for production funds has gradually increased. After receiving financial support from the bailout loan, the company has increased its cash flow and can pay suppliers in a timely manner. It has also enabled smart workshop renovation projects, etc. The technical transformation project is carried out lightly to promote the improvement of both production capacity and production efficiency.” said Lai Jianfeng, the company’s financial manager.
According to reports, compared with previous bank loans, the textile, footwear and clothing industry bailout loan has greatly reduced interest rates and costs, and the approval and loan time has been significantly shortened.
In Changle District, Fuzhou, a major textile industry town, Donglong Knitting Co., Ltd. also received a 30 million yuan bailout loan for the textile, footwear and clothing industry, which can directly reduce the financial burden of approximately 600,000 yuan. “With financial support, we can accelerate the construction of new projects such as high-end functional casual wear fabrics and functional sports fabrics.” said Ai Guodi, director of the company’s general manager office.
It is reported that eligible provincial-level industrial leading enterprises and small and medium-sized enterprises will enjoy loan quotas of no more than 50 million yuan and 30 million yuan per household respectively, and will be given a 1% interest subsidy based on the loan interest rate.
According to reports, this loan is introduced to implement the work arrangements of the Provincial Party Committee and the Provincial Government on promoting the transformation and upgrading of the textile, footwear and apparel industry, and to alleviate the problems faced by textile, footwear and apparel companies. temporary liquidity difficulties, support enterprises to increase production and efficiency, and ensure the stability of industrial and supply chains. Judging from the current situation of loan issuance, it has played a positive role in boosting the development confidence of industry enterprises and promoting increased production and efficiency.
The textile, footwear and clothing industry is a traditional advantageous industry in Fujian Province. It has formed “front-end chemical raw materials, upstream chemical fiber manufacturing, mid-end spinning and dyeing, downstream footwear and clothing products, and supporting textile machineryetc.” is the most complete and competitive industrial chain in the province. In 2021, the province’s textile, footwear and clothing industry revenue was 1.16 trillion yuan, ranking among the top five in the country. “In the next step, Fujian Province will also deepen the implementation of digitalization to support the consumer goods industry’s ‘three products’ action, focusing on industrial agglomeration, production lineintelligentization, and high-end products to highlight the leader Drive, strengthen the chain and cultivate the community, further expand and strengthen the upstream fiber raw material industry, promote the transformation and upgrading of key links in mid-end weaving, dyeing and finishing, expand the supply and application of downstream high-end textiles, and accelerate the creation of the world’s leading advanced manufacturing center for textiles, shoes and clothing.” Province The relevant person in charge of the Department of Industry and Information Technology said.
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