A Number Of Wenzhou Shoe Enterprises Received A Compensation Of 68 Million Yuan For Sky High Price.

Recently, the China Export and Credit Insurance Corp (hereinafter referred to as "CITIC insurance") has issued an indemnity notice to 13 enterprises under the same Russian buyer, with a total value of more than 68 million yuan.

It is reported that under this single buyer's compensation case, CITIC insurance compensation amount is large, the company has a wide range of compensation, covering the number of votes shipped, are broken.

Historical records.

At the end of last year, 13 Wenzhou shoe companies shipped 361 tickets to the same buyer in Russia.

According to CITIC's credit reporting channels and the feedback channels for solicitor channels, since the second half of 2014, influenced by two major factors, such as Western sanctions and international oil prices, local banks have tightened their credit.

And demanded early repayment of undue loans, resulting in a strong impact on the capital chain of the strong Russian buyers.

At the same time, the ruble depreciation has increased the cost of foreign exchange payment, resulting in a wide range of arrears. Dozens of shoe enterprises' huge accounts receivable are facing the risk of loss.

At present, CITIC has gradually issued an indemnity notice to the 13 shoe companies, with a total amount exceeding 68 million yuan.

"This huge compensation for CITIC insurance has brought into full play its policy functions, in addition to making the export footwear enterprises avoid huge losses, but also stabilized the ecological chain of Wenzhou shoe enterprises."

The relevant personages of the association of city foreign trade enterprises believe that there are also enterprises and a number of upstream suppliers who provide guarantees to these shoe enterprises. Once the receivables are lost, the consequences will be unthinkable.

Wen enterprises export 8 months reported loss of nearly 200 million yuan.

Since the second half of 2014, with the deteriorating economic situation in Russia, the risk of buyers' Arrears of payment and rejection of goods has increased sharply.

According to statistics from CITIC insulation state office, from December to July this year, the number of cases reported by Wen enterprises exported to Russia was 39, an increase of 255% over the same period last year, and the total reported loss amounted to 154 million yuan, an increase of 1029% compared to the same period last year, and the danger rate reached 33.7%.

This means that for every 100 yuan of receivables exported to Russia, the foreign exchange receipts will be 33.7 yuan.

It is higher than the global average rate of 32 percentage points.

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"Although the risk of exporting to Russia is high, in the long run, market opportunities still outweigh challenges."

Zhou Yi, head of CITIC insulation state office, said that the Sino Russian joint statement clearly stated that bilateral trade volume would reach US $200 billion by 2020, and that Russia's anti sanctions measures against the West will also be exported to China.

Bring more opportunities.

At present, CITIC has set up a working group in Russia and has continued to consolidate its credit and recovery channels in Russia, providing solid and effective protection for the rights and interests of Russian exporters in Russia.

Making good use of policy tools contributes to the development of enterprises.

Some foreign trade owners told reporters that when developing markets in Russia, Brazil, India and other places, local merchants often met with delays in payment, which would be a risk to a group of small and medium-sized enterprises.

"Refusing to refuse, in addition to the loss of orders, there may be less potential buyers who can develop for a long time."

"The development of small and medium-sized enterprises is constrained by the pressure of funds. With export credit insurance, risk can be pferred to help enterprises to take orders more, and then slowly develop buyers, even if there are several buyers who have problems, but other markets are still there."

Zhou Yi said that for enterprises, using the export credit insurance policy of Ashikaganaka Shinbo will help enhance export competitiveness.

A group of data from CITIC insulation state office showed that from 1 to June this year, the size of the office was 10 billion 470 million yuan, an increase of 2.15% over the same period last year, and 754 of the number of underwriters, an increase of 20.06% over the same period last year.

"The proportion of underwriting enterprises in total export enterprises is still below the average level of the province, and many enterprises still do not know much about the export credit insurance policy."

Zhou Yi said that the more the developing countries along the belt and the more emerging market countries, the huge potential of their trade development is also accompanied by risks.

Enterprises can only minimize risks and pform trade opportunities into business opportunities.