Aksu: Agricultural Development Bank Fully Supports High Quality Development Of Cotton Industry

As the only agricultural policy bank in China, Aksu branch of Agricultural Development Bank of China closely focuses on the general goal of social stability and long-term stability, takes serving the high-quality development of cotton industry as the main line, and always takes supporting the development of local cotton industry as the core, most fundamental and basic business, and plays an important role in promoting the healthy and sustainable development of local cotton industry.

Since the reform of cotton target price in 2014, the Aksu branch of Agricultural Development Bank has issued a total of 63.293 billion yuan of cotton purchase loans, supporting the purchase of cotton to maintain more than 60% of the total output of the whole region throughout the year.

In 2020, facing the complicated cotton market situation, the Aksu branch of Agricultural Development Bank of China approved 28 qualified cotton purchasing enterprises and approved the credit line of cotton purchase loan in 2020 after taking into account the distribution of cotton resources and the operating conditions of enterprises, so as to provide financial support for enterprises to collect more cotton and better cotton. In order to ensure that there is no blank point for acquisition, Aksu regional branch of Agricultural Development Bank of China reasonably arranges the acquisition of high-quality enterprises and their subordinate ginning plants, so as to ensure that the acquisition points cover seven counties and two cities. In order to ensure that the enterprise does not "strike a white card" to cotton farmers, the credit line of cotton purchase loan in 2020 is approved, and the loan investigation, review and approval are carried out in advance to ensure that the new cotton purchase funds are in place on time and in full. In order to ensure the provision of high-quality services, Aksu branch of Agricultural Development Bank of China has formulated an emergency plan for cotton purchase under the condition of normalized epidemic prevention and control. It has done a good job in the equipment installation, commissioning and personnel training of the online payment software "suhuitong" in advance, so as to provide safe, efficient and fast fund settlement services for cotton purchasing enterprises and cotton farmers. The government, enterprises and farmers will be satisfied with a series of practical actions.

As an important industry of Rural Revitalization in Aksu area, cotton plays an important role in the implementation of poverty alleviation. Therefore, Aksu branch of Agricultural Development Bank actively participates in the reform of cotton target price, strives to implement differentiated and exclusive cotton credit policies, and vigorously supports high-quality strategic customers to participate in the acquisition. We will actively support cotton enterprises to extend their tentacles to the field of agricultural production and develop into the whole industry chain of "production, purchase, storage and marketing" such as intensive processing. At the same time, we should make good use of living credit products, coordinate and combine the use of cotton pre purchase, warehouse receipt financing and other credit products, open up the channels for the use of working capital in agricultural production, processing and agricultural machinery services, and extend the cotton credit business from seasonal development to annual development. Since 2018, a total of 3.008 billion yuan has been invested in advance purchase, land scale operation, cotton fixed assets loans and working capital loans.