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Insurance supports exporters
(Xinhua)
Updated: 2004-12-20 10:09

The China Export & Credit Insurance Corporation will provide US$13 billion in insurance value to China's exporters in 2004, 5.5 times that of three years ago.

Tang Ruoxin, General Manager of the China's Export & Credit Insurance Co. Ltd, said that export credit insurance, together with export tax rebate and foreign trade development fund, has played an important role in supporting the country's foreign trade and investment overseas.

The China Export & Credit Insurance Co., the country's first policy-oriented export credit insurance firm, was set up in late 2001, shortly after China joined the World Trade Organization.

In the past three years, the company provided 21 billion US dollars in insurance value to China's exporters, helping them resist the risks in foreign trade and investment overseas.

Tang also predicted that his company will provide US$20 billion in insurance value to China's exporters next year.

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