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Exporters insure to cover risks
By Wang Yanlin |
December 28, 2012, Friday
|
Print Edition
Print Edition
THE policy value of Shanghai's export credit insurance surged 26.9 percent from a year earlier to US$23.1 billion this year, the Shanghai Branch of the China Export and Credit Insurance Corp said yesterday.
The surge was attributed to China's strategy to better use the insurance product to help traders control risks. A total of 1,429 companies, with 912 being small firms, in the city have purchased export credit insurance, the company said.
So far this year the company has paid compensation of US$38 million, up 53.2 percent from a year earlier. But the premium rates have been kept largely unchanged, and some were even lower, the company said.
Shanghai suffered a 0.9 percent annual decline in exports in the first 11 months, down 17.3 percentage points from a year ago and worse than the national average.
The surge was attributed to China's strategy to better use the insurance product to help traders control risks. A total of 1,429 companies, with 912 being small firms, in the city have purchased export credit insurance, the company said.
So far this year the company has paid compensation of US$38 million, up 53.2 percent from a year earlier. But the premium rates have been kept largely unchanged, and some were even lower, the company said.
Shanghai suffered a 0.9 percent annual decline in exports in the first 11 months, down 17.3 percentage points from a year ago and worse than the national average.
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