Xinjiang Branch has prepared 50 billion yuan in credit funds to ensure cotton purchase in the new year
At present, cotton bolls are cracking and sputtering out in Xinjiang, and scales are about to be opened for purchase.
Faced with the two major challenges of epidemic prevention and control in the region and the complex and severe situation of the cotton market, the Xinjiang Uygur Autonomous Region Branch has improved its political position, strengthened its responsibility, implemented the three-character formula of “early, practical, and good” and made every effort to do a good job in the new era. For the annual cotton purchase credit work, 50 billion yuan of cotton purchase funds will be prepared in advance to ensure the safety, smoothness and stable order of new cotton purchase.
Based on the word “early”, plan in advance. In response to the special circumstances of this year’s cotton sales market, the bank arranged and deployed the new year’s cotton acquisition fund supply management work one month earlier than in previous years. Organize and carry out cotton research as early as possible to conduct a thorough understanding of cotton production, business operations, acquisition capital needs, etc., and determine in advance the difficulties and blockages that may be encountered during the acquisition process and implement precise policies. Reasonably formulate timetables and roadmaps, establish a time-limited loan application system, and carry out various tasks such as qualification identification, centralized rating credit, and credit approval in a planned, step-by-step, and batch-wise manner. Up to now, the credit rating and credit approval work has been completed for 139 companies that plan to support cotton acquisitions, ensuring that every major cotton-producing county (city) has an Agricultural Development Bank loan-supporting enterprise to ensure that no “blank spots” are left in the acquisition.
Pay close attention to the word “real” and relieve difficulties. Adhere to a problem-oriented approach, launch pragmatic measures, and actively relieve cotton enterprises from difficulties. In response to problems such as insufficient self-owned funds and weak anti-risk capabilities of enterprises, the bank adopts a “one enterprise, one policy” approach to refine credit policies, provide preferential treatment in terms of comprehensive guarantee rates, interest rates, etc., proactively reduce fees and profits, and reduce corporate financing cost, promoting Xinjiang cotton to be harvested by those who have money. In order to avoid the impact of the cotton market conditions of the previous year on the cotton purchase work in the new year, the bank formulated an emergency plan for cotton purchase credit work based on full communication and coordination with relevant government departments to ensure that it can be started quickly in the event of emergencies. The contingency plan for cotton procurement effectively prevents problems such as “white stripping”, “purchasing at lower grades and lower prices”, and “difficulty selling cotton”, and effectively ensures the smooth and orderly operation of new cotton procurement.
Highlight the word “good” and optimize services. The bank insists on advancing financing and integrating intelligence, and continuously improves service quality and efficiency. Scientifically formulate cotton credit policies, and guide enterprises to purchase high-quality cotton by setting loan matching base and risk line “dual-line” standards, so as to achieve high-quality cotton at a good price, and achieve an organic combination of risk prevention and control and cotton quality improvement. Considering that this cotton acquisition comes at a critical period for the region to fight against the new round of COVID-19 epidemic, the bank’s employees have worked hard to overcome many difficulties and strengthen “online + offline” services. Some areas with severe epidemics have adopted closed offices and home offices. In combination with the method, we should appropriately implement shortage-tolerant loans, carry forward the spirit of struggle, work overtime, and continue to fight to promote policy-based financial services to “not drop the chain” in special times. At the same time, explore and launch the off-site “value-preserved loan” pre-sale model to improve the liquidity of non-standard warehouse receipts, broaden corporate sales channels, and reduce the worries of cotton companies in collecting cotton.
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