Local Policy: Agricultural Development Bank Of China Kuitun City Sub Branch, 300 Million Yuan, Provides Sufficient Impetus For The Development Of Textile Industry

Recently, Xinjiang Kuitun Sub branch of Agricultural Development Bank of China has granted Xinjiang Tianmian Jiye Textile Co., Ltd. (hereinafter referred to as "Tianmian Textile Company") 300 million yuan of agricultural science and technology loans, effectively meeting the capital needs of enterprises to purchase production materials and supporting the development of local textile and clothing industry.

Tianmian Textile Company is an enterprise mainly engaged in the textile industry, mainly producing combed and differentiated yarns with high added value. In 2022, it will produce 73000 tons of cotton yarn in total. The company settled in Kuidu Economic and Technological Development Zone in 2015, established a credit relationship with Agricultural Development Bank of China Kuitun Sub branch, and signed the Memorandum of Strategic Cooperation on Serving Rural Revitalization. Affected by the cotton market situation this year, the pressure on the turnover of enterprise working capital increased. After learning of this, the Agricultural Development Bank of China Kuitun Sub branch strengthened its responsibility, took the initiative to provide door-to-door services, fully understood the financing needs of enterprises, developed differentiated financing plans, opened up a green channel for loan handling, worked overtime to promote the loan investigation, review and approval process, and promptly solved the difficulties and blockages in the loan handling process, Accurate and efficient guarantee the smooth approval of a loan of 300 million yuan, and help enterprises speed up production at full speed.

After the loan is released, Yang Yong, head of Tianmian Textile Company, said: "Our company's payment for goods is settled in installments according to the cycle. After the order is issued, it will take three to five months to settle the payment for goods, which makes a gap in capital turnover. Fortunately, the Agricultural Development Bank of China Kuitun City Branch has made timely loans. The company will make good use of the loan funds as planned, fully achieve the goal that the production in 2023 will not be less than the production of the previous year, and help Xinjiang's textile and clothing industry continue Grow. "

(Source: Xinhuanet)