Export Credit Guarantee For Foreign Trade Enterprises To Support "Umbrella"

A financial crisis has led exporters to face the dilemma of "one dare not answer" and "one is unable to connect".

In a recent survey in Guangdong, a reporter found that China Export and Credit Insurance Corp, which is responsible for protecting the export enterprises, is combining its own financial resources and credit resources with the manufacture and sale of export enterprises, so as to enhance the enterprise's ability to resist risks.

"Demining" for enterprises to go out

"I didn't expect this financial crisis to make some of the businesses with high margin of security start to become unstable."

Recalling the trade disputes that have been going on in the past two years, Chen Yongxin, the credit management manager of the international marketing department of Guangdong Midea household appliances group, is still in fear.

In 2008, the global financial market was severely shocked, and the international business volume of the United States was very large. At that time, the bank restructuring in the United States and the deferred payment in European banks directly led to the company's unprecedented exposure to exports.

The crisis of beauty is not a case.

Since the financial crisis, the credit risks faced by export enterprises mainly come from three aspects: first, the risk of overseas buyers' delay in payment of goods or even their debts.

The two is that the risks of credit pactions such as letter of credit settlement and other bank businesses are increasing. The way of letter of credit settlement no longer has the original credit level. The financing of China's capital export projects and the implementation of projects are also faced with great challenges.

Three, the risk of default on offshore sovereignty has increased.

Faced with such a situation, the advantages of export credit insurance are more prominent.

"At present, the United States Group has taken all the risk of accounts receivable to China's credit insurance, which has circumvented the country's political risks from overseas markets and the business risks of buyers, thus ensuring the safety and stability of the group's overseas operating revenues."

The United States group said the person in charge.

Since the financial crisis, China Export and Credit Insurance Corp Guangdong branch has adopted a positive underwriting policy on the basis of maintaining a stable level of rates.

At the same time, streamline business processes and increase the efficiency of business such as quota approval, claims recovery and other businesses.

In addition, it helps enterprises understand and analyze the impact of financial crisis on overseas banks, enterprises and industries.

According to statistics, in 2008, credit insurance provided support to Guangdong enterprises' credit sales at home and abroad to 42 billion yuan, and supported enterprises to increase exports by more than 5 billion dollars.

At present, the insurance coverage in Guangdong is nearly $30 billion.

"Blood pfusion" for small and medium-sized enterprises

In the increasingly severe situation of foreign trade, small and medium-sized enterprises are vulnerable to shocks because of their weak ability to resist risks and tight capital chains.

In this regard, China Export and Credit Insurance Corp is exploring a new way to finance enterprises without collateral.

Foshan's auto parts is a trading company specializing in processing and selling automotive radiators, heaters and other products.

In 2009, with the continuous spread of the financial crisis, the consumption habits of the United States changed greatly, and the automobile repair market became popular.

Ray auto parts sees business opportunities and exports automotive radiator through large supplier channels.

"The surge in overseas sales, the pressure of trade risk and capital turnover suffered by Reid auto parts is also increasing day by day, facing the capital bottleneck of expanding reproduction."

Li Yongneng, the head of the company, said that bank loans had been put into production with factory buildings as collateral, but the rapid development of enterprises needed more liquidity.

In order to solve the financial problems of the enterprise, the Foshan business office of China Export and Credit Insurance Corp Guangdong branch in 2009 provided a set of supporting financing schemes, which are covered by credit insurance and bank intervention. The reed auto parts can be obtained from the local agricultural bank's trade financing without the need of mortgage and guarantee by means of the documents of insurance and pportation documents, and the capital chain was suddenly revitalized.

"Before export credit insurance is available, enterprises rely only on traditional fixed assets loans.

Because the CBRC pays close attention to the risk rights of credit insurance financing, enterprises can make up the vacancy in the capital chain through credit financing.

Chen Liancong, general manager of China Export and Credit Insurance Corp Guangdong branch, said.

For two years, 80% of the fortune's auto parts came from the support of export credit insurance.

The export volume of the company has increased at an average annual rate of 35%, and exports have reached US $10 million 920 thousand in the first 10 months of this year.

Chen Lian has indicated that the future export credit insurance will further support the development of small and micro enterprises, reduce the threshold of insurance, increase the coverage of enterprises, have a guaranteed investment, and provide certain rate concessions.

In addition, it will actively underwrite the export of electromechanical products, high-tech products, ships and agricultural products, and support enterprises to develop new markets.

Provision of full range trade services

Guangdong is China's largest import and export province, and its dependence on foreign trade is high.

In the 1-10 month of this year, the total value of imports and exports of Guangdong (including Shenzhen) amounted to US $747 billion 370 million, accounting for 25.1% of the total import and export volume of the country.

Faced with the impact of the financial crisis, Guangdong's exports face challenges.

CITIC has begun to take advantage of the crisis to expand its scope of service and enhance its service capabilities.

Chen Lian stressed that the export credit insurance service is not simply selling insurance policies, but also focusing on whole process services and process management.

In the pre precaution stage of credit risk, according to the type of business and the management of accounts receivable, it helps customers develop personalized insurance schemes, select different product portfolios, provide credit investigation services, help companies select credit buyers to develop account opening business, and open up emerging markets such as South America, Africa and Eastern Europe.

"In addition, it can help enterprises to review risks in contracts and negotiate contracts with buyers according to the needs of enterprises."

In his view, export credit insurance provides consultant's whole process credit risk management and service, plus the four functions of credit insurance, such as economic compensation, market development, financing convenience and upgrading management, and the service characteristics are obviously different from other traditional insurance.

After joining the WTO for 10 years, China has become the second largest economy in the world, and has also become an important export power in the world.

At the same time, China's export credit insurance jumped from scratch to global leading position: from 2002 to October 2011, the underwriting amount increased from 2 billion 750 million US dollars to US $206 billion 290 million, underwriting business covers 217 countries and regions in the world, and the number of underwriting is ranked first in the world.

As policy insurance, export credit also maintained a basic balance of profit and loss, with a slight surplus.