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First int'l trade risk report published
(Xinhua)
Updated: 2005-12-09 21:28
China published its first international trade risk report in Beijing on Thursday, analysing the trade risk grades of the country's 60 major trading nations.
According to the report, China's most important trade partners,like the United States, Japan, Singapore, Germany and the Netherlands, are graded to have the lowest risk in international trade.
On the contrary, some new overseas trading markets, including countries from Asia, Africa, the Latin America and the east Europe,are graded at a higher risk level when trading with China, for the cases of their economic development and industry structure, said the handbook.
The 1.568 million-words Handbook of Country Risk was written by the China Export and Credit Insurance Corporation (SINOSURE), China's only state-owned export credit insurance company which helps Chinese exporters avoid international trade risk.
The 60 target countries mentioned in the handbook are reported to share 70 percent of China's total foreign trade in 2004.
According to SINOSURE, the handbook made a detailed analysis of the 60 countries' risk grades while trading with Chinese partners,mainly in the aspects of domestic politics, geography, market opportunity and investment environment.
Tang Ruoxin, general manager of SINOSURE, said the handbook will be an important reference for the Chinese governments, financial agencies and domestic exporters in avoiding political and economic risks in international trade.
Assistant to Minister of Commerce Chen Jian said it is of great importance to establish a trade risk management system in China, as a key step to ensure trading safety.
Tang said SINOSURE plans to select 189 foreign countries as the analysis target in the second handbook on country risk to be issued in 2006.
Founded in 2001, SINOSURE has so far underwritten commodities totaling 42 billion US dollars. Export companies have obtained more than 10 billion dollars of trade financing from banks with export credit insurance provided by SINOSURE.
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