Export credit insurance supports Chinese exports to emerging markets

(Peoples' Daily, Beijng, 3 July 2009) At present export credit insurance coverage on China's general export trade is around 10%. In June there was a significant increase in the number of relatively long-term credit insurance policies signed, which strengthens the support for exports to emerging markets in particular. Short-term export credit insurance supported US$4.23 billion of exports to emerging markets in June, up 171% month-on-month. It is expected that US$84 billion of short-term export credit insurance will be allocated this year in the State Council's executive meeting. The realization of this goal will directly boost US$50 billion exports and secure more than 10 million jobs in relevant industries.