Agricultural Development Bank has loaned 26.4 billion yuan to support the acquisition of cotton

The Agricultural Development Bank of China issued an announcement on the morning of October 24 that since the start of the 2011/12 cotton year, the commercial funds involved in the cotton purchase have been drastically reduced, and the Agricultural Bank of China has fully allocated the scale of credit for early release of funds, as of October 10th. The purchase of cotton was ** 26.4 billion yuan, an increase of 15 billion yuan over the same period of last year.

The bank said that the above acquisition has been used to support the company's acquisition of 13.86 million lint, an increase of 10.66 million.

Among them, Agricultural Development Bank of Xinjiang Branch invested 20.8 billion yuan, an increase of 14.1 billion yuan over the same period of last year, supporting enterprises to purchase 10.82 million tons of lint, an increase of 10.22 million.

According to the Agricultural Development Bank of China, before the National Day, for the enterprises that have been confirmed to be qualified for cotton purchases, the Agricultural Development Bank issued a total of 24.3 billion yuan in funds for the purchase of cotton, an increase of 12.7 billion yuan over the same period of last year, an increase of 127%, ensuring the purchase of funds during the holiday season. The supply. At the same time, the Agricultural Development Bank increased the credit support for the enterprises participating in the storage, and all the cotton that met the requirements for storage and storage were open to supply the purchase funds, which effectively matched the implementation of the national macro-control policies.

According to the China Cotton Storage Bulletin, as of October 21st, China Reserve Cotton Management Corporation has accumulated 23660 tons of cotton in the year, including 5220 tons of transactions in the mainland and 18,440 tons of sales in Xinjiang.