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China's exporters are facing soaring payment risks from the US and European countries as these two regions are badly hit by the global financial tsunami, Sinosure's risk-analysis report revealed today.
As the country's only policy-oriented insurer specializing in export credit insurance, Sinosure has been issuing global risk-analysis report since 2005. The report covers 191 foreign countries and regions.
Due to the worsening global economy, 48 countries were downgraded in their risks rating this year. But 14 countries, mainly in Africa and Latin America, saw improved trade and investment and thus were upgraded in their rating.
The United States, for the first time, was downgraded by one level in its risks rating. According to Sinosure's statistics, Chinese firms exporting textile, mechanical and electrical products to the US are the biggest victims, with losses exceeding $10 million so far this year.
The situation with the EU is also poor. The claims Sinosure have received on mechanical and electrical products are five times that of the same period in last year
As the country's only policy-oriented insurer specializing in export credit insurance, Sinosure has been issuing global risk-analysis report since 2005. The report covers 191 foreign countries and regions.
Due to the worsening global economy, 48 countries were downgraded in their risks rating this year. But 14 countries, mainly in Africa and Latin America, saw improved trade and investment and thus were upgraded in their rating.
The United States, for the first time, was downgraded by one level in its risks rating. According to Sinosure's statistics, Chinese firms exporting textile, mechanical and electrical products to the US are the biggest victims, with losses exceeding $10 million so far this year.
The situation with the EU is also poor. The claims Sinosure have received on mechanical and electrical products are five times that of the same period in last year
