Supporting the province's exports 6.32 billion US dollars in the first quarter Jiangsu Xinbao welcomes the opening

The reporter learned from the China Xinbao Jiangsu Branch (hereinafter referred to as Jiangsu Xinbao) that in the first three months of this year, Jiangsu Xinbao cumulatively supported the province’s foreign trade exports by US$6.32 billion, an increase of 31.9% year-on-year, exceeding the 2008 annual total of US$800 million. During the 2nd Five-Year Plan period, Jiangsu's foreign trade "turned the way, adjusted the structure, and promoted the balance." Jiangsu enterprises accelerated their "going out" to get a good start and protect the airline.

Multi-push measures and boosting enterprises to sail overseas 2011 is a key year for Jiangsu to speed up the transformation of its economic development mode and realize the transition from a large trading province to a strong trading province. Faced with a complex international environment, Jiangsu Xinbao carried out various trainings such as claims, business guidance, and risk warning to guide enterprises to effectively avoid risks and ensure business safety. In order to effectively solve the problem of “going out” financing difficulties for exporting companies, Jiangsu Xinbao successively held discussions with several banks including Hang Seng and signed a strategic agreement with Nanjing Branch of China CITIC Bank. The cumulative number of cooperative banks reached 35, successfully helping insurance companies remove obstacles to financing. . In response to the high frequency of occurrence of Jiangsu shipping, photovoltaic, and electronic equipment industries in the first quarter, Jiangsu Xinbao quickly initiated the case, actively reduced losses, and made efficient claims, effectively safeguarding the rights and interests of the companies that have ventured out. When a policy of up to 300 million U.S. dollars was handed over to Jiangsu Xinbao, the company stated that "'China Credit Insurance' has four words and we believe it."

Combining with the country's strategy of speeding up the implementation of “going out” strategy, Jiangsu Xinbao teamed up with banks to actively innovate financing methods, broaden the scope of financing, and provide more favorable financing and insurance services for the province’s large-scale export of complete sets of equipment, overseas investment, and international engineering underwriting projects. In the first quarter of this year, Jiangsu Xinbao successfully underwritten two LPG (liquefied petroleum gas) ship projects and increased the level of its international operations. In addition, in order to fully cooperate with the Provincial Party Committee and Provincial Government's "expanding domestic demand" strategy, Jiangsu Xinbao actively carried out domestic trade insurance business. In the first quarter, it supported a total of 2.37 billion yuan of domestic trade, making an important contribution to Jiangsu's economy to achieve balanced development of domestic and foreign trade.

The risk remains expert reminder: While corporate transactions need to be prudent in our province's foreign trade to obtain gratifying results, international trade risks remain rising. According to the person in charge of Jiangsu Xinbao Claim Settlement Business, the amount of reported losses in the province's insurance companies in the first quarter has increased significantly compared to the same period of last year. Foreign trade companies in our province are also generally facing exchange rate fluctuations, proliferation of sovereign debt crisis, breach of contract by overseas governments, and extension of the account period. Export risk. In addition, the recent continuous turmoil in the Middle East and North Africa, the Syria war, and the negative impact of the Japanese tsunami have also made the exports of our province, especially SMEs, worse.

In response to this situation, Jiangsu Xinbao stated that it has started an emergency mechanism, opened a fast claims channel, and made every effort to reduce losses for the company. In order to better protect the interests of the industry and enterprises, Jiangsu Xinbao will quickly establish an industry claims business group to help companies effectively avoid risks based on the original industry underwriting business team. At the same time, experts warned that exporting companies still have to be cautious in selecting trading targets, rationally spreading trade risks, actively implementing various risk prevention measures, and ensuring their own export and investment security.