Hechi Branch Of Agricultural Development Bank Of China With 140 Million Yuan To Fully Support The Development Of Cocoon And Silk Industry

Recently, Guangxi Jinyuan Industrial Investment Co., Ltd. has been granted a loan of 140 million yuan from agricultural development bank. Up to now, Hechi branch of Agricultural Development Bank has issued 76 million yuan of rural circulation system construction loan to Guangxi Jinyuan Industrial Investment Co., Ltd., which is used for the reasonable working capital demand of enterprises to carry out the trade of agricultural (sideline) products such as fresh (dried) cocoons and white factory silk.

Hechi City is located in the northwest of Guangxi Province. It has a long history of mulberry planting and sericulture. Silkworm economy is one of the main ways to increase farmers' income. Hechi City has developed into the largest cocoon producing city in China and the largest silkworm and silk production base in Guangxi. In recent years, Hechi has promoted the development of sericulture production to light, simplified and labor-saving by promoting improved varieties and methods and labor-saving planting and breeding machines and tools. At the same time, Hechi takes the advantage of sericulture industry as an important starting point for poverty alleviation and poverty alleviation, and has achieved remarkable results through the promotion of sericulture industry. However, the effective development of Hechi cocoon and silk industry has been restricted by the low degree of scale, insufficient promotion of science and technology, disordered competition in the acquisition market and low product quality.

In order to fully support the development and growth of cocoon and silk industry, the bank firmly implements the requirements of Hechi Municipal People's government that "it is necessary to establish confidence, firm belief, formulate policies to promote the development of cocoon and silk industry, break the current predicament of cocoon and silk industry development, and unswervingly promote the construction of 100 billion silkworm cocoon and silk industrial park", Seizing the opportunity of the municipal government to build Hechi's 100 billion silkworm cocoon and silk industry cluster, it took the initiative to attack, innovate financing methods, accurately serve customers, timely approved the loan of 140 million yuan from Guangxi Jinyuan Industrial Investment Co., Ltd., and successfully issued the first loan of 76 million yuan, helping to establish a government led Silkworm Cocoon acquisition mechanism, and fully supporting the development of Hechi cocoon industry, We will contribute to the great cause of effectively linking the achievements of poverty alleviation and Rural Revitalization.

(source: Guangxi News Network)