Challenged by Trade Partners, China Ends Export Credit Subsidy

(NewsBlaze, Folsom CA, 8 March 2007) China has terminated its central bank program that allowed a select group of large exporters to take advantage of discounted loans unavailable to many other companies. The United States and several other countries had challenged the program as a prohibited export subsidy and requested World Trade Organization (WTO) dispute settlement consultations. In other news, Chinese ECA Sinosure has experienced problems with overseas accounts receivable.