ICBC Xinjiang Branch: "Silver Spinning Loan" Is Effective For Textile Enterprises.

"Thank you very much. Through the "silver spinning" business, our company not only alleviated the cyclical funding gap, but also delivered the order on time, which laid a solid foundation for the long-term development of the company. Speaking of the ICBC Xinjiang branch's "silver spinning loan" business, the head of the Baishan Lake Clothing Co., Ltd., kiriz Liru Kirgiz Autonomous Prefecture, is highly praised.

It is understood that as a strategic industry for the development of the autonomous region, the textile and garment industry plays an important role in the economic development and poverty alleviation in Xinjiang. In 2017, according to the small and micro cluster customers in the textile and garment industry, the Xinjiang branch of ICBC based on the business model of the Bank of China, relying on the credit risk compensation fund of the textile and garment enterprises established by the autonomous region government, developed an innovative financing service scheme with regional industrial characteristics, namely, the "silver spinning loan" business, which mainly supported seven sectors such as Xinjiang's manufacturing industry and clothing industry. The enterprises could apply for 5 million yuan loan amount, providing financing support for the textile and garment enterprises in poor areas.

In order to widen the financing channels for small and micro enterprises in textile and garment industry, in 2017, the Xinjiang Autonomous Region Government set up a credit risk compensation fund for textile and garment enterprises to provide credit for the small and micro enterprises in the textile and garment industry. After knowing the situation, the bank sent a special person to the government for the first time. After many discussions and consultations, the "silver spinning loan" business cooperation mode has been recognized. ICBC Xinjiang branch has signed the "silver spinning loan" business cooperation agreement with the Xinjiang Autonomous Region Government as the first cooperative bank.

Since then, the Xinjiang branch of ICBC has launched a personalized design based on the characteristics and financing needs of the small and micro cluster customers, and inspects the production and operation, cash flow demand and employment management of the enterprises on the spot, and publicize the operation procedures and precautions of the "silver spinning" loan to enterprises, so as to help enterprises solve the fund problems as soon as possible and provide a comprehensive and inclusive financial services for small and micro enterprises.

Akto County, Baishan Lake Clothing Co., Ltd. mainly produces and processes professional suits and work clothes. Since its establishment, it has started training in large quantities for free and tailoring and making technical staff. With the increasing support from the state to the southern Xinjiang, the clothing of Baishan lake is facing unprecedented opportunities, but it also faces the problem of working capital gap. After winning a bid for a production project, Baishan Lake Garments Co., Ltd. failed to arrive in advance due to the continued receivables. The shortage of raw material procurement funds affected the delivery time of the target and had a significant adverse impact on the production and operation of the enterprises.

After understanding this situation, ICBC Xinjiang branch introduced the "silver spinning loan" business product to the enterprise, and after the application of the enterprise, the special person was assigned to report the customer's financing business, and quickly provided the customer with 1 million 400 thousand yuan low price credit fund support, relieving the urgent problem of the enterprise's eyebrows, and ensuring that the enterprise delivered the order products on time. Through continuous financial support from the bank, Baishan Lake Garments Co., Ltd. has gradually grown into a model enterprise that promotes the employment of poor people in the region, and has made outstanding contributions to local economic development and social stability.

Up to now, ICBC Xinjiang branch has promoted remarkable achievements in the business of "silver spinning loan", "Silver Bear" and "silver political link", and the total lending scale has exceeded 100 billion yuan. Through convenient and low-cost credit funds, the "silver spinning loan" has created a new mode of financial services for small and medium enterprises, ensuring the production and operation of small and micro enterprises in textile and garment industry, and effectively promoting the poor people to get rid of poverty and employment, and has achieved good economic and social effects.