The Research On Export Credit Insurance In Our Country Boosting The Development Of Small And Medium-sized Enterprises

With the deepening of the trade globalization, foreign trade of our country hasmade rapid development, it has become an important pillar of economic development.At present, the competiton is intense in international market, the environment of tradeis complicated, the export enterprises in our country are facing with huge politicalrisks and credit risks. Small and medium-sized enterprises as the mainstay of theeconomic market in our country, have been increasingly involved in the foreign trade,hoping to seek a broader space for development in the international market. In theprocess of conducting foreign trade, Small and medium-sized enterprises are limitedby its small scale, shortage of funds, the lack of management experience, weak abilityto resist risk, etc, and are also blocked by international trade barriers, the appreciationpressure of RMB, backward of macro management system, financing difficulties,which often leading them can’t answer the business, losing trade opportunities in theinternational competition.The Export Credit Insurance, as the policy tool which the government used tosupport foreign trade, it not only provides consulting service of risk and losscompensation service for Small and medium-sized enterprises, also help it adoptflexible trade settlement way, develop the international market, obtain financesupport and implement successful listing, that fully embodies the effect of ExportCredit Insurance on boosting the development of Small and medium-sized enterprisesChina Export and Credit Insurance Corporation (hereinafter referred to as“SINOSURE”) is a wholly owned insurance agency established by our government,the main business is in charge of policy export credit insurance business, which is theumbrella of foreign trade. After it is founded, the Export Credit Insurance of ourcountry has been rapid development, but the missing supervision system, lack of lawsand regulations, lack of publicity, the single way to buy insurance, the high insurancerate, the long cycle of application and other issues still restrict the development of theExport Credit Insurance. There are reasons for that, such as the missing of the government function, the lack of insurance consciousness, but the most is due tomonopoly policy operation mode of SINOSURE, so exploring suitable mode ofExport Credit Insurance for China’s national conditions and characteristics of Smalland medium-sized enterprises is urgent and important. Through studying on theinternational mature mode of Export Credit Insurance, on the basis of summarizingthe experience, the author conclude that the Export Credit Insurance should graduallytransformed from policy mode to the commercial mode, eventually the commercialrisks will be implemented by commercial operation completely. Aimed at theproblems existing in Export Credit Insurance, the improvement should bestrengthened by the government, the Export Credit Insurance Institutions and Smalland medium-sized enterprises. To the government agencies, they can exert theirfunctions by establishing the laws and regulations, establishing an effectiveinter-ministerial coordination mechanism, increasing financial support. Export CreditInsurance institutions shall improve their ability of management by broadening thescope of business, for convenient way, reducing the insurance rate, choosing theappropriate mode and so on. Small and medium-sized enterprises should promotethemselves by strengthening insurance consciousness, improving its managementlevel of risk gradually. Believe that, under the joint efforts of the parties, the ExportCredit Insurance will be better to play its role in promoting the development forforeign trade of Small and medium-sized.