The Agricultural Development Bank of China announced in the morning of October 24th that 2011/12 cotton has participated since the beginning of the year.

The bank said that the above acquisition loans have been used to support the acquisition of 13 million 860 thousand tons of cotton lint, an increase of 10 million 660 thousand pounds over the same period.

Among them, the Xinjiang branch of the Agricultural Development Bank put 20 billion 800 million yuan, an increase of 14 billion 100 million yuan compared with the same period, supporting the acquisition of 10 million 820 thousand tons of cotton lint, an increase of 10 million 220 thousand last year.

According to the agriculture development bank, before the National Day holiday, the Agricultural Development Bank issued a total of 24 billion 300 million yuan for the acquisition of cotton purchase loans, which increased by 127% yuan over the same period, which increased the supply of cotton purchase funds during the holiday season. The total amount of loans for the acquisition of cotton loans was $24 billion 300 million.

At the same time, the Agricultural Development Bank has increased credit support to enterprises involved in the storage and storage. All cotton that meets the requirements of purchasing and storage has been open to the acquisition of funds and effectively coordinated with the implementation of the national macroeconomic regulation and control policy.

According to the central reserve cotton notice, as of October 21st, China cotton reserve management company has collected 23660 tons of cotton this year, including 5220 tons in the mainland and 18440 tons in Xinjiang.