The Agricultural Development Bank Of China Fully Safeguards Cotton Purchase To Ensure "Money And Other Cotton".

The Agricultural Development Bank of China issued a circular recently that the relevant branches should make full use of the annual cotton purchase and guarantee work, carry out the cotton target price reform and the relevant macro-control plan under the new situation, and support the acquisition of cotton as the top priority of the current business.

The notice stressed that all levels of banks should make every effort to make preparations for the acquisition of cotton, and continue to play the main role of cotton purchasing funds supply. First, make sure that no blank spots are left. To facilitate cotton farmers to sell cotton, do not appear to "sell cotton difficult" as the premise, cotton production areas to investigate thoroughly, to county as a unit to implement customer layout. The two is to achieve "money and other cotton". It is necessary to complete the related work of rating, credit, approval and so on before the acquisition of new cotton, and release appropriate funds according to the progress of acquisition and credit management requirements. Three, we must do a good job of customer service. We should increase the credit service to participate in the acquisition of cotton, and timely and fully meet the credit demand of customers in cotton purchase. The four is to effectively promote the convergence of supply and demand. We should give full play to the advantages of the agricultural development bank to support cotton purchasing enterprises and textile enterprises at the same time, and promote the convergence of supply and demand so as to achieve the integration of processing and trade.

The circular requires that all levels of banks should adhere to the guiding ideology of preventing and controlling risks without making "white stripes". We must strengthen organizational leadership, strictly implement the "leader" responsibility system of cotton purchasing, and actively proactively propagate credit policies to ensure the smooth progress of cotton purchasing.