Agricultural Development Bank Raised 50 Billion Yuan To Support Cotton Purchase In Xinjiang

Learned from the Xinjiang branch of the Agricultural Development Bank of China: this year, the Agricultural Development Bank of China has given Xinjiang policy tilt on capital scale and credit policy, raising 50 billion yuan to support the acquisition of Xinjiang cotton. As of October 10th, the Xinjiang branch of the Agricultural Development Bank has put in 12 billion yuan of cotton loans.

Since the beginning of this year, the Xinjiang branch of the Agricultural Development Bank has implemented the layout of the customers in the county as the unit under the premise of convenience for the cotton farmers to sell cotton, and has identified 163 cotton enterprises' loan qualifications, ensuring that every major cotton producing county (city) has a loan supporting enterprise of the agricultural development bank.

Starting in May this year, the Xinjiang branch of the Agricultural Development Bank has organized many cotton production surveys. According to the cotton planting area, output and expected price of Xinjiang this year, combined with the actual situation of enterprises, it reasonably calculated the demand for purchasing funds and completed the credit rating work of cotton loan enterprises.

In response to the new situation of the cotton purchase and sale market this year, the Xinjiang branch of the Agricultural Development Bank has formulated a timetable and a roadmap to implement the project schedule, and set up a time limit loan system to open up a green channel for the acquisition and approval of cotton loans. The former and the backstage work together and process management, which greatly improves the work efficiency and quality, and completes the loan examination and approval work before opening the scale.

In addition, in order to facilitate the sale of cotton by cotton farmers and enhance the level of customer service, the Xinjiang branch of the agriculture development bank also made comprehensive use of online banking payment, third party payment and cash payment to eliminate the phenomenon of "delaying payment" and "beating the White Bill" in the cotton purchasing season.

It is reported that the Xinjiang branch of the agricultural development bank is the main channel for the purchase of cotton financing in Xinjiang, and the annual supply of cotton purchase loans accounts for more than 70% of the total amount of cotton purchase funds.