Export-oriented Fastener Industry Should Make the Most of Credit Insurance

2011-08-18

Days ago, China Export & Credit Insurance Corporation paid the compensation of RMB14.36 million to Zhejiang Jiaxing Zhongda Group. The compensation is the largest amount for a single buyer located in Haiyan. According to CECIC, the risk of export in only Haiyan, Jiaxing has been high for a period of time. In the first 7 months, the declared amount has reached US$7 million, which is a new record high. Experts point that the industry cannot ignore the risk a long-term business partner may cause and should aggressively utilize the resources of credit insurance in order to control the potential risk effectively.