(Reuters, Beijing, 3 May 2012) China is willing to reform its export-credit financing, an unnamed senior U.S. official said, a move that can help level the playing field between Chinese exporters and companies in other countries. The U.S., 27 nations of the European Union, Australia, Canada, Japan, South Korea, New Zealand, Norway and Switzerland already have common approach rules on the use of government export credits under the OECD, a rich nations club. China is not party to that pact and U.S. companies have complained that its cheap government-backed financing often makes it difficult to conclude sales.
China willing to reform export credit system: U.S. official
