Analysis And Countermeasures Of China's Export Credit Insurance Business Research

With the expanding of world economic globalization, China is fastening its steps to the world economic system by way of foreign trade under the guidance of opening policy. Along with China's impending entry into the WTO, there should be some adjustment done to the current economic policies so as to cater to the requirements of WTO. Being a kind of policy-oriented business, export credit insurance has been developed hi China for about 10 years and has gained positive achievements in promoting world trade unification.In this dissertation, the methods of comparison and connecting theory with practice are applied. Starting with the development and the current operating system of export credit insurance, the existed problems and ways to solve it are fully discussed here.There are six parts in this dissertation.The first part provides a brief introduction of the development and characters of export credit insurance business and makes a comparison between commercial insurance and credit insurance so as to give a clear idea of what export credit insurance is.The second part compares worldwide different patterns concerning export credit insurance institutions. They can be divided into five groups, such as government directly operating model, government-controlled institutions operating model, private institutions (trusted by government) operating model, export-import bank operating model, etc. Different models have their typical representative countries with their varied characters.The third part describes the current status of export credit insurance in China. Introduced to Chinese market in 1989, export credit insurance has made great progress from 1992. So far, there have been more than 1000 export enterprises applied for this business. As an important means in macro-administrating of Chinese economy, export credit insurance has benefited the domestic exporters by guaranteeing the payment risks and upgrade the competitiveness of their products, it also helps a lot in acquiring funds and accumulating information for exporters. However, the business is still quite limited hi China and needs great efforts for further development.The fourth part analyses the existed problems that hinder the progress of the credit insurance business. Such as the lack of recognition of the important role it plays in China's economy, the unsoundness of relevant law, the unreasonable structure and the badly need of eligible personnel, etc.The fifth part discusses the possible ways to solve the existed problems. They can begrouped into four aspects. Firstly, to build an export credit mechanism with Chinese characteristics. Secondly, to make a perfect government supervision system. Thirdly, to broaden the propaganda effect and information net services. Lastly, to set up a scientific evaluation system.As a conclusion, export credit insurance business is now gaining more attention and popularity among different societies with its effective role in supporting domestic exports. Therefore, we should fully utilize this means to promote the export of Chinese mechanical and capital goods. In the mean time, export credit insurance shall contribute much more to Chinese foreign trade development with its prospective future.