A few days ago, China Export Credit Insurance Corporation (hereinafter referred to as "China Credit Insurance") released data that as of November 2011, the cumulative underwriting of medium and long-term export credit insurance was US $ 40.66 billion, with an average annual growth rate of 36% (2002 to 2010). Among them, the proportion of underwriting in the telecommunications and power industries reached 15.6% and 45.6%, respectively.
The relevant person in charge of China Credit Insurance stated that with the support of China Credit Insurance, China's telecommunications equipment manufacturers have entered the mainstream market of European and American operators, and the annual contract export volume ranks among the highest in the world.
In August last year, China Credit Insurance and ZTE (Weibo) and Huawei (Weibo) signed strategic cooperation agreements to provide short-term export credit insurance, medium- and long-term export credit insurance, overseas investment insurance and other insurance products to the two companies.
The relevant person in charge pointed out that China Credit Insurance will further develop the policy role of short-term export credit insurance, support the development of seven strategic emerging industries such as new-generation information technology, and promote the transformation of China's foreign trade development mode.
China Credit Insurance was formally established on December 18, 2001, and is the only financial institution in China that undertakes policy export credit insurance business.
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