Local Policy: Aksu Banking Industry 8.381 Billion Yuan Credit Funds To Support The Purchase Of Seed Cotton

"Thank you very much for the credit funds and preferential policy support of the agricultural development bank. At present, we have abundant funds and the purchase of new cotton is very smooth." Awati county a cotton enterprise in charge of Mr. Liu said.

Under the cotton purchasing situation in Aksu City, the cotton purchasing bureau held a special meeting to ensure the cotton harvest in advance. By the end of October, Aksu's banking institutions had granted loans of 36.997 billion yuan to 102 cotton purchasing enterprises, and had invested 8.381 billion yuan in cotton purchasing credit funds to 82 Enterprises, and supported enterprises to purchase 1.0659 million tons of seed cotton.

It is reported that, in view of the cotton market situation in the previous year, Aksu bank insurance regulatory Branch Bureau conducted early investigation, early arrangement and early deployment, urged the banking institutions in the jurisdiction to determine the timetable and roadmap, timely carried out the new annual rating credit and loan qualification identification for new cotton enterprises, and formulated an emergency plan for cotton purchase work in advance, so as to ensure the smooth and orderly operation of cotton purchase in the next year. At the same time, in order to ensure that the acquisition credit funds are in place in time, the banking institutions under the jurisdiction should open up a "green channel" in time to speed up the approval process. Some banks also actively promote "xinmiantong" and other businesses, and adopt the operation mode of "issuing loans first and then handling warehouse receipt pledge" to solve the urgent needs of enterprises; The behavior of agricultural development improves the settlement efficiency of enterprises, continues to promote the use of "Express link" and "online banking" settlement services, effectively ensure that cotton farmers "cotton hand, money to hand", and vigorously promote the "value preservation loan" pre-sale mode, improve the liquidity of non-standard warehouse receipts, broaden the sales channels of enterprises, lock the sales price in advance, and eliminate the worries of cotton enterprises in the future.

In view of the problems such as insufficient self owned funds and weak anti risk ability of some cotton purchasing enterprises, the banking institutions have also implemented "one enterprise one policy", giving preferential treatment in terms of comprehensive guarantee rate and interest rate, actively reducing fees and interests, effectively reducing the financing cost of enterprises, helping enterprises to embark on the battle with light equipment and restoring "vitality".

Zhang Jianjun, Secretary of the Party committee and director of Aksu banking and insurance regulatory branch, said that in the later stage, the bank institutions in the jurisdiction will continue to implement the "notice on doing a good job in purchasing new cotton in 2022" issued by the general office of the people's Government of the Autonomous Region, open up a "green channel" for handling loans, increase credit supply, and ensure the sufficient supply of regional cotton purchase funds, Actively do a good job in the new cotton listing and acquisition security work.

(source: Aksu daily)