Business credit insurance emerges as new Chinese tool

(China Daily, Hong Kong, 15 December 2012) The mainland trade credit insurance industry has been developing rapidly. Export credit insurance is one kind of trade insurance which exporters purchase to yield financial protection in case of any default by overseas buyers or mainland producers. In 2011, export credit insurance's underwriting amount on the mainland reached $216.24 billion, accounting for 11.4 percent of the country's total export amount in the same period and also much higher than the international average.