| For those people who are familiar with international trade and international economics, the concept of "export credit" should not be a strange one. This article briefly introduces the export credit and the background of Export Credit Agency(ECA). Meanwhile, with the introduction to and the compare with the main world EGAs, the writer try to explore the future development of China's EGA on the basis of the status quo.Since the establishment of the first EGA in British (the Export Credit Guarantee Department, ECGD), in 1919, many countries has set up their EGAs, including developed countries and developing countries. These EGAs' are specialized in the field of export credit operation. With the fruitful work of EGAs and the cooperation between them, the world foreign trade and overseas investment has been greatly enlarged.And with the globalization of the world economics, more and more countries and regions are becoming members of WTO. As the requirement of WTO and as broadly-accepted international custom, the export subsidy and tax preferences will gradually fade out from the export support policy in most countries. Therefore, the export credit will be more important in international trade and economic cooperation, while EGAs will become more active.China's first EGA was set up in 1994, named the Export-Import Bank of China (EIBC). It was set up to deal in the export credit (including export credit loan and export credit insurance) in china. While at the same time, the Bank of China can still deal in the export credit loan and the China People's Insurance Company can still deal in the export credit insurance. This means all of the three agencies are in the filed of export credit, but the EIBC is a "state policy" bank. In 2001, a new China Export & Insurance Corporation was set up to exclusively deal in the export credit insurance. That is what the China's EGA present situation - one for export credit loan, one for export credit insurance.After entering into business, the EIBC has done a lot to promote the export of China's machinery, complete-plant equipment and high-tech products, won very good reputation both at home and abroad. However, with a history of only about 7 years, and has been operating in a high-speed developing and reforming stage, the EIBC still has a lot to be improved in different aspects. This is one of key topics of this article.This article includes three chapters, they are:Chapter One "Brief Introduction to export credit and EGAs", giving a brief introduction to the export credit, the background of EGAs and their function in international economic practice. This chapter also gives a glance to the main EGAs in five countries, including Export- Import Bank of the United States, Export Credit Guarantee Department of the United Kingdom, Kfw and HERMES of Germany, Japan Bank of International Cooperation, Export Credit Guarantee Corporation of India Ltd. By theseintroduction, the writer want the reader to learn a few about these EGAs, and to provide reference for the discussion in Chapter Three of this article.Chapter Two "Brief Introduction to China's EGA", giving a introduction to the Export and Import Bank of China, including detail introduction of its business scope and business practice in the last few years and at present. With the diagrams in this chapter, reader can see the road that the ECIC has undergone these years, and it was really a great help to China's foreign trade. This chapter also gives a very brief introduction to China Export & Credit Insurance Corporation, which was established on October, 2001.Chapter Three "The discussion of the future development of China's EGA under present economic environment". This Chapter is of most importance among the three, which is divided into eight sections to experimentally probe into the further development of China's EGA. The year of 2001 has seen a lot - both global political and economic situation changed and suffered a lot. The increase speed of China's export in 2001 has dropped and missed the goal. And also in... |
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