Agricultural Development Bank's Aksu regional branch 'loan' cotton spinning enterprises to overcome difficulties

In order to fully implement the tasks of 'six stability' and 'six guarantees' of the central and autonomous regions, and promote the implementation of relevant policies, we will further improve the credit work of cotton spinning enterprises. Recently, the Aksu regional branch of the Agricultural Development Bank was approved by Xinjiang Lihua Textile Co., Ltd. (hereinafter referred to as 'Lihua Textile') as a leading processing enterprise cotton adjustment loan of 800 million yuan for poverty alleviation, mainly for the purchase of high-quality lint. It is understood that Lihua Textile is a wholly-owned subsidiary of Xinjiang Lihua (Group) Co., Ltd., one of the largest cotton spinning enterprises in Xinjiang, with an annual production capacity of 560,000 spindles, an annual output of 50,700 tons of high-end combed cotton yarn, and open-end spinning. With 26,600 tons of yarn, sales channels are all over the country, and it maintains long-term supply and marketing relationships with major domestic garment production bases such as Guangdong, Zhejiang and Hubei. At the same time, Lihua Textile is one of the newly recognized poverty alleviation leading enterprises in the autonomous region. Up to now, it employs more than 1,800 people, including more than 600 people from 219 poor households. Due to the impact of the new crown pneumonia epidemic, the cotton market is in a severe situation and prices fluctuate greatly. Lihua Textile urgently needs funds to purchase raw materials to stabilize the local market. After learning about it, the Aksu regional branch actively played its role and assigned a dedicated person to set up an investigation team. With the service tenet of “accurately responding to needs, quickly carrying out work, and unblocking green channels”, it formulated a feasible financing plan to maximize the guarantee of timely and smooth loan funds. A loan of 800 million yuan was approved. “The timely arrival of the Agricultural Development Bank’s credit funds has helped our company’s orderly progress in production and processing and effectively regulate the local cotton market.” said Lihua Textile Director Jia Chunsheng. “At the same time, our company is responsible for expanding the employment of poor households nearby and fulfilling the responsibility of leading enterprises in poverty alleviation. Play a role in advancing.” 　　 The loan will effectively drive the employment of 6 poor households with registered cards and 11 poor households who have been lifted out of poverty and still enjoy the policy, and effectively promote the large-scale development of the local cotton industry chain. The work of 'six stability' and the implementation of the task of 'six guarantees' have a positive effect. Article keywords: 　Aksunong issued cotton spinning Lihua textile loan employment