Six new measures were introduced to further play the role of export credit insurance

2024-05-21 09:38 Xinhua Editor in charge: Chen Wei

Summary: The circular focuses on the key tasks of high-quality trade development, further gives play to the role of export credit insurance in risk prevention, loss compensation, financing promotion and market expansion, and proposes about 30 measures in six aspects. Actively respond to the demands of enterprises, resolutely implement the work arrangement related to short-term insurance, actively protect the risks before export, make good use of import prepayment insurance, and consolidate the basic market of foreign trade and foreign capital.

Xinhua News Agency, Beijing, May 20 -- The reporter learned from the Ministry of Commerce on the 20th that the Ministry of Commerce and the China Export and Credit Insurance Corporation recently jointly issued the Notice on Giving Full Play to the Role of Export Credit Insurance, Firmly Promoting the High quality Development of Trade, and Accelerating the Construction of a Trade Power to guide local competent commerce departments and the business organizations of China Export and Credit Insurance Corporation to make full use of export credit insurance policy tools.

The circular focuses on the key tasks of high-quality trade development, further gives play to the role of export credit insurance in risk prevention, loss compensation, financing promotion and market expansion, and proposes about 30 measures in six aspects.

First, actively respond to the demands of enterprises, resolutely implement the work arrangement related to short-term insurance, actively protect the risks before export, make good use of import prepayment insurance, and consolidate the basic market of foreign trade and foreign capital.

The second is to strengthen international cooperation and underwriting of foreign trade supply chain, improve cross-border e-commerce and overseas warehouse exclusive product services, actively integrate into new business types and models such as market procurement trade, bonded maintenance, foreign trade comprehensive service platform, and accelerate the cultivation of new foreign trade drivers.

The third is to focus on service trade and digital trade, improve underwriting services in international transportation, advertising, culture, maintenance and repair, explore the inclusion of more data elements in underwriting review, and strengthen data cooperation between banks and insurance companies.

Fourth, deepen the coordination of domestic trade insurance and export insurance, expand the coverage of the industrial chain, and support the integrated development of domestic and foreign trade.

Fifth, deepen the "Belt and Road" economic and trade cooperation, play the role of medium - and long-term insurance and marine investment insurance, safeguard landmark projects, optimize and simplify business procedures, support "small and beautiful" projects, provide customized risk solutions, and improve comprehensive underwriting capacity.

Sixth, we should give appropriate resources to small, medium-sized and micro foreign trade enterprises, improve their insurance convenience and sense of policy acquisition, actively expand online policy financing business, and provide more inclusive risk management services.

key word: Coverage, economic and trade cooperation, Ministry of Commerce, underwriting capacity, bonded

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