Ministry of Commerce: Increase support for export credit insurance

The notice mentioned several points, the first of which is to strengthen policy guidance. The commercial authorities of various regions should design cross-cycle policies to ensure that foreign trade operates within a reasonable range. The business offices of Sinosure should clarify the work plan, actively provide more powerful risk protection for enterprises, protect the risks of enterprises before shipment under the premise of controllable risks, stabilize the confidence of enterprises in accepting orders and consolidate and expand the scale of orders on hand.

The second point is to strengthen support for small and medium-sized enterprises. The competent commercial departments of various regions should promptly and deeply understand the outstanding difficulties and financial needs faced by small and medium-sized foreign trade enterprises. All business offices of Sinosure should effectively increase the service support of export credit insurance for small and medium-sized enterprises, expand the coverage and underwriting scale of small and medium-sized foreign trade enterprises, reduce the insurance costs of small and medium-sized enterprises in a targeted manner, and optimize the claims settlement and recovery service measures.

The third point is to promote the innovative development of foreign trade. The competent commercial departments of various regions should improve the credit insurance support policy in light of the actual situation of various regions, encourage greater support for new foreign trade formats such as cross-border e-commerce, overseas warehouses, and foreign trade comprehensive service enterprises, and take targeted measures to promote the development of service trade. The business offices of Sinosure should strengthen product model innovation, optimize underwriting review, and provide personalized service solutions for enterprises.

The fourth point is to ensure the stability and smooth flow of the industrial chain and supply chain. The commercial authorities of various regions will do their utmost to ensure the export of industries and key products that have a significant impact on the industrial chain. All business institutions of Sinosure should strengthen product linkage and resource allocation, actively expand industrial chain underwriting, and support the smooth operation of the upstream and downstream of the industrial chain.

The fifth point is to promote the integrated development of domestic and foreign trade. The competent commercial departments of various regions should conduct in-depth investigations and studies, understand the problems and demands of enterprises in developing domestic and foreign markets through various forms, coordinate to solve the difficulties of enterprises, improve the order-taking ability of enterprises, and cultivate more internationally competitive trade dual-circulation enterprises. All business institutions of Sinosure should continue to support foreign trade enterprises in converting export products to domestic sales, strengthen the coordinated support of export credit insurance and domestic trade insurance for enterprises operating both domestic and international markets, and actively support trade dual-circulation enterprises to enhance their international competitiveness.

The sixth point is to strengthen the financing support for short-term insurance policies. The competent commercial departments of various regions should play the guiding role of special funds for foreign trade and economic development, encourage learning from the successful experience of some provinces and cities, actively promote the "government + bank + insurance" and other financing support models, and further guide banks to innovate insurance policy financing and other products in combination with the needs of foreign trade enterprises and the characteristics of foreign-funded enterprises. All business institutions of Sinosure should strengthen their sense of responsibility, make full use of local support policies and bank insurance policy financing products, and increase the scale of insurance policy financing.

foreign trade

Insurance