The amount of export credit insurance China offers to its export and investment overseas is about to exceed US$13bn, 5.5 times the amount three years ago.
General Manager Tang Ruoxin of the Export Credit Insurance Company (CECIC) of China disclosed the news when attending the opening ceremony of CECIC Yunnan sub-company here recently.
Tang predicts that the amount of export credit insurance China offers to its export and investment overseas may top US$20bn in 2005.
Export credit insurance, together with export rebates and foreign trade development fund, has become an important part of Chinas foreign trade promotion system. The support rate of export credit insurance to general trade export in China is 5 per cent at present, as against 2 per cent three years ago.
