We have launched E-mail Alert service,subscribers can receive the latest catalogues free of charge
Enhance the Role of China’s Export Credit Insurance through Picking up International Experience to Boost Foreign Trade Growth (No.215, 2020)
2020-10-26
By Sun Fei, Research Institute of Finance, DRC
Research Report, No.215, 2020 (Total 5959) 2020-9-3
Abstract: Since the outbreak of COVID-19, export credit insurance of various countries have played an important counter-cyclical adjustment role in helping foreign trade enterprises, especially small and medium-sized foreign trade enterprises, to cope with the impact of the epidemic by adjusting regulatory policies, reducing service fees, promoting product innovation, and improving underwriting capacity. At present, the Chinese government has noted that it would make good and full use of compliant foreign trade policy tools such as the export credit insurance, and expand the coverage of export credit insurance, and has implemented a number of specific supporting policies. For example, in light of order cancellations and delays due to the spreading of the epidemic, the government will take active measures to reduce the risk of order cancellation before the shipment and allow foreign trade enterprises to reasonably change relevant period of short-term export credit insurance contract. In this context and with regard to export credit insurance, the government could refer to international experience, optimize the rate base and business cap adjustment mechanism, improve underwriting and innovation capacity, increase support for small and micro enterprises, build an information sharing platform with relevant market entities, and further play the role of export credit insurance to boost foreign trade development.
Keywords: export credit insurance, financing support, international experience
