Xinjiang: Cotton Farmers Comprehensive Service Platform provides cotton farmers with one-stop considerate services
In the past, Jia Shoujun, a cotton farmer in Wusu City, Tacheng Prefecture, Xinjiang, was extremely busy from the beginning of spring plowing to running seeds, fertilizers, and banks until the autumn sales. Thanks to the comprehensive service platform for cotton farmers launched last year, a lot of worries have been eliminated. “By downloading and using the cotton farmer loan product business function on your mobile phone, you can quickly apply for a bank loan. The interest rate is low and guaranteed. It is really convenient and fast.” Jia Shoujun said .
There are many cotton farmers like Jia Shoujun in Xinjiang who have benefited. In order to reduce planting costs, in May 2021, the National Cotton Trading Market took advantage of its basic advantages in the big data system of the cotton industry chain to build a comprehensive service platform for cotton farmers to directly serve more than 400,000 cotton farmers at the grassroots level in Xinjiang. In all aspects of cotton planting by cotton farmers, the platform can provide financial loan services, price information inquiry, cotton planting area confirmation, sales information inquiry, processing plant docking and other services. It is a one-stop service center for cotton farmers in Xinjiang.
Service industry development reduces costs and increases efficiency
Cotton is the pillar industry of Xinjiang agriculture. As the cotton industry continues to develop, the demand for technology and financial services continues to increase, and the requirements for industrial service upgrades are highlighted.
Every year, the plowing preparation season is an important period for cotton farmers’ capital needs. It is understood that the current bank loan amount for farmers is about 1,200-1,500 yuan per mu. With the rising cost of planting in recent years, existing loans can only cover about half of cotton farmers’ planting capital needs, and mortgage loans are the main form, with interest rates It is relatively high and takes a long time. How to serve the majority of cotton farmers quickly and efficiently, reduce planting costs, and improve cottonquality is an issue that needs to be solved urgently.
Shan Xu, the person in charge of the relevant business of the National Cotton Trading Market, said that the platform provides cotton farmers with services such as cotton market conditions, cotton planting and sales data inquiries, processing plant seed cotton purchase quotations, and financial credit, forming a platform for cotton farmers in the process of production activities. One-stop service center greatly improves production efficiency. Over the past two years, through continuous operation, the platform has gathered a large number of cotton farmer user groups, formed a scale effect, introduced traffic to various business related parties in the planting process, and reduced the customer acquisition cost and default risk of the business side.
As of October this year, the cotton farmer platform has nearly 180,000 active cotton farmer users.
Provide online credit to benefit farmers
Due to the limited coverage of account managers, traditional credit business has difficulty in obtaining information on cotton farmers. It relies on individual cotton farmers to provide business information, and the customer review efficiency is low. Therefore, it affects the loan review efficiency, funds cannot be put in place in time, and production is affected.
Shan Xu said: “Traditional loans require cotton farmers to go to the bank to sign an agreement and prepare household registration books, bank statements, land certificates, marriage certificates and other information. The approval time is at least a week, and the loan can even take a month.”
The emergence of “online credit” (Mianyidai, Xinjiang Mianyun Loan, Cotton Farmer Loan) in the national cotton trading market can achieve no mortgage, instant approval, instant loan, and instant payment, which greatly solves the problem of cotton farmers’ planting process It is difficult to get a loan and the demand for a loan is difficult.
On August 20 last year, China Construction Bank Xinjiang Branch cooperated with the National Cotton Trading Market to launch cotton farmer loan products “Mianyidai” and “Xinjiang Cotton Cloud Loan”. Minsheng Bank’s “Cotton Farmers Loan” was also officially launched on March 9, 2022, solving the “last mile” problem of cotton farmers’ financing.
Cotton farmers’ online credit loan products have reduced loan interest rates for cotton farmers, improved processing efficiency, and also reduced the operating costs of financial institutions. During the 2021-2022 planting season, relevant cooperative financial institutions provided a total of 450 million yuan in credit loans to cotton farmers through the cotton farmers comprehensive service platform, with a withdrawal rate of more than 80%.
Timely release of information to help farmers fight the epidemic
The comprehensive service platform for cotton farmers has launched the function of displaying seed cotton transaction prices and processing plant purchase quotations, allowing cotton farmers to sit at home and seamlessly connect with market conditions without leaving home.
Pan Jin, a cotton farmer from the 18th Company of the 131st Regiment of the 7th Division of the Xinjiang Production and Construction Corps, said: “In the past, you had to call the owner of the processing plant or even drive to the door of the processing plant to see the daily listed purchase price. Now you can see it through You can see it on the comprehensive service platform for cotton farmers. Especially due to the epidemic, cross-regional movement of people is restricted. You can check the listing price at any time through your mobile phone, and you can also compare whose purchase price is higher, which provides great convenience for us to sell seed cotton. ”
Shan Xu introduced that in the future, the comprehensive service platform for cotton farmers will also realize the supply and demand docking of various resources such as agricultural inputs, agricultural machinery, agricultural technology, and seed cotton procurement, and directly serve the most grassroots cotton farmers and farmland. Digital service support can help reduce cotton planting costs, increase cotton farmers’ income, and achieve a win-win situation for all parties.
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