ICBC Xinjiang Branch "Silver Spinning Loan" Helps Textile And Garment Enterprises Develop

"I really appreciate the ICBC. Through handling the "silver spinning loan" business of ICBC Xinjiang branch, our company not only alleviated the cyclical capital gap, but also delivered the order on time, which laid a foundation for the long-term development of the company. Speaking of ICBC Xinjiang branch "silver spinning loan" business, kiriz Kirgiz Autonomous Prefecture Baishan Lake Clothing Co., Ltd., the person in full praise.

As a strategic industry for the development of autonomous regions, the textile and garment industry is playing an increasingly important role in Xinjiang's economic development and poverty alleviation. In recent years, the Xinjiang branch of ICBC based on the business model of the Bank of China, relying on the textile and garment credit risk compensation fund set up by the autonomous region government, has developed an innovative financing service product with regional industrial characteristics, namely, "silver spinning loan", which mainly supports seven sectors such as Xinjiang textile and garment industry. The company can apply for 5 million yuan loan amount and effectively provide financing support for textile and garment enterprises in poor areas.

In order to widen the financing channels for small and micro enterprises in the textile and garment industry, in 2017, ICBC Xinjiang branch learned that the regional government would provide credit for the small and micro enterprises in the textile and garment industry through the establishment of the textile and garment credit risk compensation fund. After many consultations, the "silver spinning loan" business cooperation mode has been recognized. ICBC Xinjiang branch has signed the "silver spinning loan" business cooperation agreement as the first cooperation bank and the autonomous region spinning office.

After the signing of the agreement, ICBC Xinjiang branch actively took the lead in developing regional market planning and research, drafted and formulated two level branch market plan according to the characteristics of regional economic development, guided the two level branches to promote the development of the "silver spinning loan" business in combination with the actual situation; at the same time, visited and marketing the key target customers in the region with the two level branches, and carried out personalized design according to the operation characteristics and financing needs of the small and micro enterprises in the region, inspecting the production and operation, cash flow demand and employment management of the enterprises, and publicized the "Silver spinning loan" operation process and matters needing attention to the enterprises, providing an omnidirectional and package financial service for the small and micro enterprises.

At the end of 2017, the Xinjiang branch of ICBC sent a team to a clothing company limited in Akto county. The company is mainly engaged in the production of professional suits and workwear. Since its establishment, the company has started training locally, tailoring and making technical staff locally, and training many surplus labor force into qualified industrial workers. With the country's strong support for the southern Xinjiang economy, the company ushered in unprecedented opportunities, but also faced with the problem of working capital gap. After bidding for a production project, the company failed to arrive due to the early receivables, resulting in the shortage of raw material procurement funds, which may affect the delivery time of orders and adversely affect the operation of enterprises.

After understanding the situation, ICBC Xinjiang branch recommends the "silver spinning loan" product to the company, and assigns special person to be responsible for docking the customer financing business. It quickly provides customers with 1 million 400 thousand yuan of low credit capital, relieves the urgent need of the enterprise, and ensures that the company pays the order on time. Through this business cooperation, the company has established a solid cooperative relationship with ICBC Xinjiang branch. Through continuous financial support from ICBC Xinjiang branch, the company has gradually grown into a regional employment model business for poor people, contributing to local economic development and social stability.

Up to now, ICBC Xinjiang branch has promoted the "silver spinning" business of the autonomous region, the "Silver Bear" business of Urumqi branch, and the "silver political link" business of the bole branch, which has achieved remarkable results. The total lending has exceeded 100 million yuan, and has fully taken advantage of the advantages and brand superiority of the ICBC, and has created a new mode of small and medium enterprises in financial services.

ICBC Xinjiang branch "silver spinning loan" guarantees the production and operation of small and micro enterprises in textile and garment industry through convenient and low-cost credit funds, effectively drives the poor people out of poverty, and achieves good economic and social effects. It shows the support of ICBC for supporting and serving local economic development.