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Rise in Foreign Trade Credit Risk
Post Time: 20/02/2019


The Yiwu Marketing Service Department of China Export & Credit Insurance Corporation (commonly known as Sinosure) released the information that in 2018, the Zhejiang Branch of Sinosure received over 2600 loss-reporting cases related to short-term export credit insurance from enterprises in Zhejiang, a year-on-year increase of 19%. In addition, the amount of reported losses showed a year-on-year increase of 28%. The credit risk in foreign trade is likely to increase this year.

The Zhejiang Branch of Sinosure released the summary of export credit risk information for Zhejiang for 2018, which summarized the credit risk level and trend of the countries and regions to which enterprises in the province usually export.

·        Asia: The amount of reported loss and the number of loss-reporting cases ranked first in the world.

·        Europe: Brexit increased regional economic uncertainty.

·        Africa: Information channels were scarce, the credit system was not transparent enough, and the credit environment was unsatisfactory.

·        Latin America: Some countries lacked political stability, which increased local credit risks.

·        North America and Oceania: Exporters should watch the United States and Australia carefully. (By Zhou Lüjiang, translated by Shen Yingying, edited by Kendra Fiddler)


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