The district's Bureau of Commerce strengthens cooperation with Sinosure to enhance the risk resistance of foreign trade enterprises in the whole dist
Release Date: April 13, 2022, 16:19 Information Source: Qiantang New Area
In December 2021, the Executive Meeting of the State Council put forward requirements for optimizing export credit insurance policies to promote the stable development of foreign trade, emphasizing the need to further enhance the role of export credit insurance to support the stability of industrial and supply chains, support small and medium-sized foreign trade enterprises, and support the development of new forms of foreign trade. In January this year, the State Council issued the "Opinions on Doing a Good Job in Cross-Cycle Adjustment to Further Stabilize Foreign Trade", further clarifying important tasks such as using export credit insurance to promote the development of overseas warehouses, strengthening product linkage, supporting the integrated development of domestic and foreign trade, and increasing support for small and medium-sized foreign trade enterprises.
The District Bureau of Commerce has strengthened cooperation with the Business Department of Zhejiang Branch of China Export & Credit Insurance Corporation, implemented the spirit of superior documents, actively played the role of policy-based credit insurance, mitigated risks such as the COVID-19 pandemic and the intensification of global trade frictions, and helped Qiantang District achieve new results in the high-quality development of foreign economic and trade. In 2021, the total volume of the district's foreign trade imports and exports exceeded 100 billion yuan for the first time, ranking second in the city in terms of scale. Among them, the export scale ranked third in the city, and the import scale ranked second.
I. Assist enterprises in withstanding risks and ensuring the stable development of foreign trade. In 2021, the District Bureau of Commerce, together with Sinosure, actively promoted export insurance business, and both the enterprise coverage rate and business penetration rate increased significantly. Through direct compensation and overseas recovery, Sinosure recovered nearly ten million US dollars in losses for enterprises.
II. Promote the high-quality development of foreign trade enterprises through multiple measures. First, support enterprises to actively integrate into the "Belt and Road" Initiative and make a steady layout overseas. Throughout the year, five overseas investment projects of key enterprises in Qiantang District were insured, helping enterprises better cope with trade frictions and achieve a global layout of production capacity. Second, vigorously carry out overseas credit investigation services to reduce the risk of information asymmetry in enterprise transactions. The District Bureau of Commerce and Sinosure continued to jointly introduce preferential support policies for enterprises' overseas buyer credit investigations, providing nearly 100 credit report services for enterprises to explore overseas markets throughout the year. Third, serve enterprises through various forms of online and offline training. Nearly 20 online "Hangzhou Export Risk Live Broadcast Rooms" were hosted, and export enterprises in Qiantang District actively participated. One offline policy training session was also hosted.
III. Work plans for 2022. First, further increase the promotion of inclusive policies for small and micro enterprises. At present, a cooperation agreement has been signed with Sinosure to build a joint insurance platform for export credit insurance for small and micro foreign trade enterprises. Through "lowering fees and increasing responsibilities", a preferential insurance plan has been customized for small and micro export enterprises. Multi-channel publicity is being carried out to further expand the coverage of export credit insurance for small and micro enterprises. Sinosure has also increased the allocation of a service team for small and micro enterprises and improved services such as collection tracking, risk information release, and policy training. Second, further enhance the full-product service capabilities for key export enterprises to support the improvement of their diversified competitiveness. A "one-stop" supporting service plan including export trade credit insurance, domestic sales credit insurance, credit investigation, overseas investment insurance, and financing under insurance policies will be designed and provided for key export enterprises. At the same time, the subsidy for insurance premiums will be increased to help enterprises comprehensively prevent risks, explore markets, raise funds, and improve internal control mechanisms. Third, further strengthen the demand research and policy implementation for cross-border service trade and cross-border e-commerce enterprises in Qiantang District. Thoroughly understand the current situation of international business development and risk-avoidance needs of relevant enterprises in Qiantang District, implement targeted policies, and help enterprises expand overseas.
