Lushan, Ya'An: Six Financial Measures To Support The Textile Industry

In February 11th, the reporter learned from the Ya'an financial work bureau that the six measures of financial support for the development of Lushan's textile industry were issued recently. It stipulates that a letter of intent guarantee will be issued within 3 working days for Lushan textile enterprises which are temporarily short of funds.

The textile industry is the dominant industry in Lushan County of Ya'an. "We support the development of Lushan's textile industry by increasing the intensity of credit, improving the efficiency of credit approval, and reducing financing costs," he said. Ya'an financial work bureau responsible person said, every year before March, to organize banking financial institutions to carry out the Lushan textile enterprise rating credit, timely credit support.

Innovative services. Ya'an finance Guarantee Corporation is encouraged to carry out credit guarantee, innovative use of accounts receivable, pledge of financial storage and moving stock, guarantee of enterprises in the same industry, etc. as an anti guarantee measure.

Cost reduction. Ya'an demands that all financial institutions strictly prohibit the increase in financing costs in disguised form, standardize the service charges, clean up unnecessary "passages" and "bridge crossing" links, and reasonably control the loan interest rates.

Information sharing. Ya'an will set up an information communication mechanism for business operations, and regularly inform relevant financial institutions of the textile industry's electricity consumption, employment, social security payment, tax payment and other business information.