Aksu Bank provides 8.381 billion yuan in credit funds to support seed cotton acquisition

“We are very grateful to the Agricultural Development Bank of China for its continuous credit funds and preferential policy support. At present, we have sufficient funds and the acquisition of new cotton is going smoothly.” said Mr. Liu, the person in charge of a cotton enterprise in Awati County.

Under the superposition of multiple factors such as epidemic prevention and control and the unstable cotton market situation, in order to ensure the smooth progress of cotton procurement in the jurisdiction, the Aksu Banking and Insurance Regulatory Bureau has increased its research efforts, made arrangements in advance, and held special meetings to supervise banks The organization has made emergency plans to effectively ensure an adequate supply of funds for cotton purchase in the region, effectively ensuring that there are people and money to harvest cotton. As of the end of October, various banking institutions in Aksu had granted 36.997 billion yuan of credit to 102 cotton purchasing companies, and had provided 82 companies with cotton purchasing credit funds of 8.381 billion yuan, supporting companies to purchase 1.0659 million tons of seed cotton.

It is reported that in view of the cotton market situation last year, the Aksu Banking and Insurance Regulatory Bureau conducted early research, early arrangements, and early deployment, and urged banking institutions in the jurisdiction to determine timetables and roadmaps, and promptly provide new year’s rating credits and loans to new cotton enterprises Qualification determination, and contingency plans for cotton purchase work should be formulated in advance to ensure the smooth and orderly operation of cotton purchase work in the next year. At the same time, in order to ensure that the credit funds for the acquisition are received in a timely manner, banking institutions in the jurisdiction promptly opened a “green channel” to speed up the approval process. Some banks are also actively promoting businesses such as “New Miantong” and adopting the operating model of “first disbursing loans and then handling warehouse receipt pledges” to solve the urgent needs of enterprises; in order to improve the efficiency of corporate settlement, the Agricultural Development Bank of China continues to promote the use of “Shuhuitong” plus “online banking” “Settlement service effectively ensures that cotton farmers get their money when they sell cotton, and vigorously promotes the “value-preserved loan” pre-sale model to improve the liquidity of non-standard warehouse receipts, broaden corporate sales channels, lock in sales prices in advance, and eliminate the problems of cotton companies collecting cotton. No worries.

In response to problems such as insufficient self-owned funds and weak anti-risk capabilities of some cotton purchasing enterprises, banking institutions also implement “one enterprise, one policy”, provide preferential treatment in terms of comprehensive guarantee rates, interest rates, etc., actively reduce fees and profits, and effectively reduce Corporate financing costs help companies carry out operations with ease and restore their “vitality.”

Zhang Jianjun, Secretary of the Party Committee and Director of the Aksu Banking and Insurance Regulatory Bureau, said that in the future, he will continue to guide banking institutions in the jurisdiction to resolutely implement the “Notice on Doing a Good Job in the Acquisition of New Cotton in 2022” issued by the General Office of the People’s Government of the Autonomous Region and open up a “green channel” “We will accommodate the shortage of loans, increase credit, ensure adequate supply of funds for regional cotton acquisitions, and actively ensure the acquisition of new cotton on the market.

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