Financial "Living Water" Helps Textile Industry Development In Hutubi County, Xinjiang

At the production line of Yuan Qi textile and garment industrial park in Hutubi County, Xinjiang, 21 year old Buaishim Golamu is skillfully operating the knitting machine. Two years ago, she was still working in the village of agyagi, a village in PI Xi Na Township, tipi Shan county. There are many workers like Bua Bea Natsu M in the textile industry incubator of Hutubi county. Most of them come from the poverty stricken areas in southern Xinjiang. Since 2017, they have become industrial workers in industrial parks, and they have got the chance to work here because of their lack of labor skills.

Hutubi County of Changji Prefecture is located in the northern foot of Tianshan Mountain. It is one of the strong cotton producing counties in China and one of the national high quality cotton production bases. With the advantage of building the core area of Xinjiang Silk Road Economic Belt, the county has focused on building the whole industry chain of characteristic industries, investing 2 billion 600 million yuan, and building a textile industrial Incubation Park in the light textile industrial park.

The financial system played an important role in the development of local textile industry. Since the beginning of this year, the local banks have cut down the deposit reserve ratio of the Hutubi agricultural and commercial bank in many ways within the scope of the system, releasing nearly 250 million yuan of funds, alleviating the financing difficulties of the local small and medium-sized textile enterprises, and guiding the banking financial institutions within the jurisdiction to increase the credit support for small and medium-sized enterprises. Among them, Hutubi agricultural and commercial bank lowered the average interest rate for grid loans of private and small and micro enterprises. Up to now, the SME loan balance of the bank is 850 million yuan, of which the balance of the textile industry loans is 150 million yuan, effectively supporting the development of the local textile industry.

The development of industry has promoted employment, and the textile industry has become an important channel for new employment. Hutubi has also become an important base for absorbing surplus labor force in the poverty-stricken areas of Southern Xinjiang. At present, there are 29 thousand workers in the textile industrial park, and more than 2500 people are employed in the textile industry incubator of the yuan Qi Industrial Park. The park regularly conducts skills training to help more and more people transform themselves from the poor peasants into modern industrial workers and embark on the road of getting rid of poverty and becoming rich.

Bua Bea Natsu M said, "I am very happy to work here. I have accumulated 30 thousand yuan in my work for more than two years. Not only is my income much higher than before, but also I learned textile technology. I have been able to operate various kinds of machines skillfully and independently manage 9 knitting machines."