Textile Industry Association Starts Credit Rating &Nbsp; Solves SME Financing.

China Textile Industry Association announced today that it will launch the credit evaluation of enterprises in the textile and garment industry to solve the key problem of financing difficulties for SMEs.

"More than 90% of China's textile enterprises are small and medium-sized enterprises, and their financing difficulties are mainly caused by the lack of credit system, which is urgently needed to solve in the post international financial crisis." Du Yuzhou, President of China Textile Industry Association, said. It is understood that the association will first launch corporate credit evaluation among the members of the association and the professional associations of the escrow, so as to enhance the credit management level and risk tolerance ability of the garment and textile enterprises, and advocate good atmosphere of good faith management, promote the construction of the industry self-discipline mechanism, and promote the sustained and healthy development of the industry. At present, some enterprises have voluntarily declared their requirements for evaluation.

According to Du Yuzhou, the basic framework of the credit evaluation system for textile and garment enterprises is to objectively analyze and evaluate the financial, financial, human resources allocation, operation and operation, enterprise management, product quality, safety production and social credibility of textile and garment enterprises, and publish the evaluation results to the society two times a year, as an important reference for enterprises to carry out foreign economic activities such as financing and mergers and acquisitions. "Many companies do not tell the truth about their production scale and sales volume, so our credit rating system includes these basic data."

In addition, the association will also establish an industry credit information collection channel and an enterprise credit database, including the credit archives and trading partner credit files of key enterprises, and enterprises can voluntarily swap, providing free information and providing open access to the society as long as they provide their own information. At the same time, we will establish a mechanism of rewards and punishments for trustworthiness and dishonesty. For trustworthy enterprise associations, they will recommend to financial institutions and relevant government departments, while the discredited enterprises will be included in the "blacklist".

The textile industry is a traditional pillar industry and an important livelihood industry of our national economy. At present, China is changing from a big textile country to a strong textile power. The establishment of credit evaluation system for textile enterprises not only provides strong evidence for enterprise financing, but also improves the brand competitiveness of the enterprises. From the industry, it can also form a good atmosphere of keeping promise and practice, and it will generate an endogenous driving force for the development of the industry.