China's Ministry of Commerce: Export credit insurance rates proposed to be cut by about 30%

Xinhua Beijing, June 15 (reporter Zhu Liyi Remin) China Ministry of Commerce spokesman Yao Jian said 15th that China is improving its export credit insurance policy to reduce the impact of the financial crisis on China's foreign trade.　　Relevant departments are prepared to further reduce the premium rate, the proposed reduction of about 30%, to less than 0.45%. Yao in the day of the Ministry of Commerce's regular press conference said that the current export decline in both the reasons for the reduction of external demand, but also the financial crisis led to increased business risk, there is a single "dare not answer, do not want to connect, unable to answer" the question.　　Export companies in Zhejiang, for example, reflect that their export receipts are about 58% per cent higher than last year. He said that the introduction of the export credit insurance policy, this year's short-term export credit insurance coverage of the scale from 43.2 billion U.S. dollars to 84 billion U.S. dollars, so that the export credit insurance cover from the current 6.5% to about 15%;　　To encourage financial institutions to support the financing of export enterprises in a variety of ways, such as policy loans and export order mortgages. He also said that in order to support the powerful Chinese enterprises to participate in foreign electricity, transportation, communications and other infrastructure construction, the Ministry of Commerce, the Ministry of Finance and other relevant units are also in the implementation of large-scale equipment export financing of special funds arrangements.