粮棉市场化改革以来,农发行对收购资金封闭管理政策作了较大的调整,其中最重要的就是对粮棉油贷款推行抵押担保贷款方式。总行明确提出要全面落实抵押担保手续,专门下发了《关于对粮棉企业有效资产实施抵押担保工作的通知》,对粮棉油贷款的抵押担保工作作出具体部署。在粮棉市场化改革的关键时期,总行提出这个要求,是十分必要,非常及时的。一、对粮棉油贷款实施抵押担保的重要意义首先,对粮棉油贷款实施抵押担保是市场化条件下收购资金封闭管理的需要。粮棉购销市场化改革以后,棉花经营和销区粮食购销已经全面放开,主产区也通过缩小保护价收购范围、调整财政补贴方式等形式,逐步放开粮食收购。粮棉购销市场化改革给农发行收购资金封闭管理带来的影响:一是 Since the market-oriented reform of grain and cotton market, the ADBC ​​has made great adjustments to the closed-door management policy on the acquisition of funds. The most important one is the implementation of the mortgage-backed loan system for the grain, cotton and oil loans. The head office clearly stated that it is necessary to fully implement the mortgage guarantee formalities and issued a special circular on the implementation of mortgage guarantee for the effective assets of grain and cotton enterprises, making concrete arrangements for the mortgage guarantee of the grain and cotton oil loans. In the crucial period of market-oriented reform of grain and cotton, it is very necessary and timely for the head office to make such a request. First, the implementation of the mortgage on grain and oil loans important significance First of all, the implementation of mortgage loans for grain and cotton oil is the acquisition of capital under the conditions of market-oriented management needs. After the market-oriented reform of grain and cotton marketing, the purchase and sale of grain in the cotton business and the sales area have been fully liberalized. The main producing areas have also gradually liberalized their food purchases by narrowing the scope of the purchase of protective prices and adjusting the ways of financial subsidies. The Impact of the Market-based Reform of Grain and Cotton Purchase and Marketing on the Closed-end Management of Procurement Funds of Agricultural Development Banks: First,