3.68 billion yuan guarantees the cotton purchasing enterprise “Qian Waiting Cotton” in Maigaiti County
In order to ensure the supply of funds for new cotton purchases, the Maigaiti County Branch of the Agricultural Development Bank of China played its role as the main channel for supplying cotton funds and approved credit funds of 3.68 billion yuan to cotton enterprises. We will ensure a sufficient supply of cotton purchase funds and effectively ensure that farmers get their cotton and money.
In order to ensure the acquisition of new cotton, the Agricultural Development Bank of China’s Maigaiti County Branch made preparations in advance. By visiting cotton processing enterprises, it understood the difficulties and needs of the enterprises, and completed enterprise rating, credit and other related work in advance. Early demand investigation, early fund raising, early planning arrangements, and early loan disbursement will be carried out to lay a solid foundation for the smooth progress of new cotton acquisition work.
Zhou Zhiwei, deputy secretary and vice president of the Party branch and deputy president of the Maigaiti County Branch of the Agricultural Development Bank of China, said: “This year, we have adopted a ‘one enterprise, one policy'” differentiated service approach to open up a green channel for loans to supporting enterprises. We will provide preferential policies in terms of loan applications, credit lines, fund scale, loan interest rates, and loans to provide more financial support for cotton, and arrange account managers to go to various cotton purchase points to install and debug payment equipment to improve the efficiency of fund payment. Our bank has prepared 3.68 billion in cotton purchase funds, which can fully supply the capital needs of cotton purchase companies and ensure that cotton farmers “get cotton and money in hand.”
The cotton industry is an important pillar industry of Maigaiti County’s economy and the main source of farmers’ income. It occupies an extremely important position in economic development and is related to people’s livelihood. It is understood that the cotton planting area in Maigaiti County this year has reached 543,500 acres. In order to ensure the normal and orderly progress of new cotton acquisition, the Agricultural Development Bank of China Maigaiti County Branch has completed the rating, credit and qualification of 16 cotton purchasing companies. The access work ensures that loans can be “used and released at any time”, providing financial guarantee for the acquisition of new cotton, and effectively protecting the vital interests of cotton farmers.
He Xuewu, manager of Xinjiang Cotton Industry (Group) Maigaiti County Cotton Industry Co., Ltd., said: “Our Xinjiang Cotton Company and the Agricultural Development Bank of China have many cooperative relationships, and they have also given our company strong support and help. This year Our company applied for an acquisition capital of 800 million yuan from the Agricultural Development Bank of China. The company’s six flower-tying factories, acquisition facilities, and acquisition sites are ready for maintenance. Inspection instruments and scales have been identified. The production equipment is in place and fully prepared for scale opening. ”
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