China

Chinese companies will face growing risks involving short-term export trade credit in the first quarter of 2012, according to the country's only export and credit insurer.

Central Bank s Credit Information Center posts a 34 per cent year on year growth in the number of receivables finance transactions.

The underground credit market accounts to 7 percent of total lending, as the situation with SME lending deteriorated in the past year.

Bank of China , Wuhan Branch reports CNY 40 billion turnover of its automotive supply chain finance programme in 2011 in Hubei region.

The Shandong provincial government procurement credit guarantee pilot programme has commenced operations.

China Merchants Bank (CMB) and CITIC Bank plan to raise 20 billion yuan and 30 billion yuan respectively through the issue of bonds to support lending to small and micro enterprises.

The city of Shanghai is to launch new initiatives and expand existing schemes to help its 337,000 SMEs, according to officials.

The Chinese government has created preferential procurement policies for SMEs to boost their development, according to a recent government statement.

The China Export Credit Insurance Corp (Sinosure), the only export and credit insurer in China, has experienced a rapid increase in claims from enterprises trading with the European Union (EU) region this year as the sovereign debt crisis deepened, according to top officials.

Industrial and Commercial Bank of China (ICBS) to commence domestic factoring.