China's small-and medium-sized enterprises (SMEs) exporters are expected to have lower business risks in 2005, as the nation's sole export credit agency vowed to lift the insurance cover by some US$8bn.
China Export and Credit Insurance Corporation (Sinosure) assistant general manager Zhang Weidong told China Daily: "We will increase our support to competitive Chinese exporters, including SMEs and plan to insure US$20bn worth of exports in 2005." That will be more than 3.3 per cent of China's expected exports next year - based on an estimated export volume of US$600bn in 2005.
Sinosure has underwritten exports of US$9.5bn from January to September and is expected to chalk up US$12 to US$13bn for the full year, according to Zhang.
This compares with last year's US$5.71bn.
