Laws of the People's Republic of China

The Ministry of Foreign Trade and Economic Cooperation, the China Export Credit Insurance Corporation

Circular of the Ministry of Foreign Trade and Economic Cooperation and China Export Credit Insurance Corporation on Issues Concerning Further Promoting Export Credit Insurance

WaiJingMaoJiCaiHan [2002] No.521

October 29, 2002

The departments (commissions, bureaus) of foreign trade and economic cooperation of all provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan, the chambers of commerce of import and export, and the business management departments of China Export Credit Insurance Corporation:

As a general international practice, export credit insurance is a policy measure adopted by the countries to promote their product export, the purpose is to encourage the enterprises to increase export by the state's bearing of the risks in the collection of foreign exchange in foreign trade. The practices of the countries have proved that by purchasing export credit insurance, export enterprises may avoid risks in the export collection of foreign exchange, guarantee the safe export collection of foreign exchange and expand the enterprises' export scale.

Since its foundation at the end of 2001, China Export Credit Insurance Corporation has actively built its enterprise structures, set forth its internal rules and regulations, sorted out various kinds of external relations, and meanwhile, done a great deal of work in improving the export credit insurance products, bettering the services for export enterprises and lowering the premium rate of export credit insurance etc. This will actively promote the foreign trade and economic strategies of China of "vitalizing trade by science and technology", "a multi-outlet market" and "going global" etc. In order to publicize and spread the policy of export credit insurance in a wider range, to promote the enterprises to understand and use export credit insurance to increase their exports, and to further improve the export credit insurance mechanism of China, the relevant issues are notified as follows:

I.

Establishing a steady and expedite contact mechanism.

The departments of foreign trade and economic cooperation at various levels, the chambers of commerce of importers and exporters and China Export Credit Insurance Corporation as well as its branches shall contact each other and strengthen the coordination and communication. The departments of foreign trade and economic cooperation at various levels, and the chambers of commerce of importers and exporters shall, in light of the actual development of the foreign trade and economic cooperation of their respective regions and the business of their respective lines, understand the need for export credit insurance of the export enterprises within the regions and industries under their respective jurisdiction, and make the need known to the credit insurance institutions in a timely manner. The branches of export credit insurance shall voluntarily provide various kinds of business information and materials to the departments of foreign trade and economic cooperation and the chambers of commerce of importers and exporters of the places where they are located, and shall inform the departments and chambers of their business process.

II.

Publicizing and spreading export credit insurance in an all-around and thorough way.

The departments of foreign trade and economic cooperation at various levels, and the branches of China Export Credit Insurance Corporation shall strengthen their cooperation, and carry out various kinds of publicizing and introducing activities in light of the actual situations of the localities, so that the export enterprises can fully understand and utilize the policy of export credit insurance in good time.

III.

Summing up the experiences in export credit insurance work, and promoting the development of export credit insurance.

The localities shall carry out a thorough investigation and research in light of the situations of their respective regions, find out and settle the problems existing in export credit insurance work in a timely manner; shall actively seek vigorous support from the local governments, and promote the business of export credit insurance and the development of foreign trade and economic undertakings of their respective regions by learning the beneficial experiences of other provinces and cities.

The entities shall earnestly implement the spirit of this Notice, if any problem is encountered in the implementation, please report to the Ministry of Foreign Trade and Economic Cooperation (Department of Project Funding) and China Export Credit Insurance Corporation (Department of Business Development).

This is hereby the notification.

Attachment:Contact Form of Business Management Departments of China Export Credit Insurance Corporationhtm/e03105.htm

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