Mofcom: Export credit insurance rates to be reduced 30% Citic-Bao Guangdong: This year has taken the initiative to cut 20%

International trade risks are high this year, and many companies that have not been exposed to export credit insurance have started to insure.　　IC to map the Ministry of Commerce spokesman Yao Jian said June 15, in order to solve the export enterprises have orders but "dare not answer, do not meet, unable to meet" the problem, reduce the financial crisis on China's foreign trade, the relevant departments are prepared to further reduce the export credit insurance rates, the proposed reduction of about 30%, To the Ministry of Commerce, China's export credit insurance company Guangdong Branch to reporters, the fact that short-term insurance rates in recent years have been reduced. At the beginning of this year, Guangdong Branch has taken the initiative to cut short-term risk rates in the Guangdong region from 0.63% last year to the current level of 0.5% per cent (down nearly 20%).　　As for the Ministry of Commerce after the statement on how to adjust, the person said, "The downward reunification of the steps will be received after the implementation of the rules of the company to implement the downward issue."　　Guangdong average rate is lower than the country to reduce the financial crisis on China's foreign Trade, Ministry of Commerce spokesman Yao Jian said, is prepared to further reduce export credit insurance rates, about 30%, from the current 0.65% to less than 0.45%. "The short-term risk rate will be further reduced on the basis of 2008, so as to reduce the direct cost of the insured enterprises, to guide the enterprises to actively insure the enterprises to expand exports", Citic Insurance company in recent news bulletins also made it clear that the rate will be cut.　　In fact, according to Citic Insurance Guangdong Branch, the short-term risk rate has been reduced year by season, the Guangdong region, the average rate of short-term insurance is even lower than the national level, this year's average rate is not more than 0.6%.　　"or according to the different risks of different transactions to develop different rates, the lower risk is greater, the higher the risk is less", the person said, overall, the rate reduction is the trend, is conducive to increasing the popularity of export credit insurance. Because of the current international trade at a high risk period, the international reinsurance institutions generally increase the rate of reinsurance, which causes the credit insurance institutions to face the pressure of higher rates. In fact, many of the international credit insurance institutions have been adjusted higher rates. Although as a policy body, operating also face the pressure to control risks, "in this case, only the use of the leverage rate, product innovation and underwriting mode of combination, effective control of risk."　　said the person. Increased awareness of corporate insurance "in the face of risk, the number of thousands of rates is not a problem at all, the key is the understanding of risk," Citic Insurance Guangdong Branch said that under the impact of the international financial crisis, export enterprises are generally facing the risk of foreign exchange to increase and other adverse situation, The awareness of export credit insurance is also enhanced.　　CITIC Insurance Guangdong Branch data show that this year underwriting amount of nearly 4 billion U.S. dollars, an increase of 50%, the number of new-signed policies than the same period last year increased by 140%, in the number of cooperative enterprises continued to increase. "International market competition is fierce, many enterprises only rely on credit to get orders, accounts receivable increased risk", China's export credit insuranceInsurance company Guangdong Branch Underwriting Management director Wu Yishe said, this is the enterprise has a single "dare not connect, do not want to connect, unable to connect" phenomenon. Wu Yishe said that many enterprises to overseas buyers lack of understanding, not easy to take orders, hope that through specialized agencies to conduct investigation and evaluation, give recommendations. In addition, companies that have defaulted on their payments are unable to recover overseas, and export credit insurance has professional teams to help companies assess risks and track arrears.　　According to statistics, this year, China's Guangdong branch to help the insured to recover arrears of more than 60 million U.S. dollars. As Guangdong's import and export trade situation is still grim, export credit insurance will play an increasingly important role. According to the Customs and Excise Department of Guangdong, the value of imports and exports of Guangdong Province in May was 45.97 billion U.S. dollars, down 22.1%, of which 26.86 billion U.S. dollars, down 21.2%.　　Although the decline is less than the national level, but according to customs statistics, Guangdong Province Foreign trade import and export data 3 consecutive months after a narrow decline, the decline in imports and exports increased in May. New claims increase 3 times times as the growth of export credit insurance business, as the trade risk has been prominent since this year, the reported loss cases and the amount also increased significantly. According to the Guangdong branch of the statistics, the first 5 months of this year, the number of new claims increased by 3.2 times times, the new claim amount increased 3.1 times times year-on-year.　　The number of new reported can be damaged 3.4 times times year-on-year, reported loss of total gold than the same period last year increased 3 times times. From the case of reported losses, Asia, Europe, North America ranked top three, of which Asia accounted for the total reported loss of nearly 1/3.　　And from the new million dollars reported damage to the case, reported loss cases are mainly concentrated in automobiles, electromechanical, base metal and other industries, the three accounted for up to 68.75%. Wu Yishe said that most of the losses since this year are due to the buyer or the issuing bank in arrears.　　This shows that last year, the impact of commodity price volatility has not completely ended, and its role in the relevant sectors of radiation in a relatively short period of time will continue. Under the bad trading environment, the function of credit insurance is undoubtedly strengthened. May 27, Premier Wen Jiabao presided over the State Council executive meeting to improve the export credit insurance proposed specific policy arrangements: to improve export credit coverage, 2009 arranged short-term export credit insurance to cover a scale of 84 billion U.S. dollars; reduce the premium rate; establish and perfect the financial risk compensation mechanism of export credit insurance To implement the Special fund arrangement for the export financing insurance of large equipment. Yao Jian, the Commerce ministry's news man, also said it would raise the scale of its short-term export credit insurance coverage from $43.2 billion trillion to $84 billion a year ago, raising the rate of export credit insurance from the current 6.5% to about 15%. Newspaper reporter Lin Yu