Wenzhou Foreign Trade Export And Other Industries Affected By Red Light Pens

"Sub-prime" spread to foreign trade enterprises

, exports slumped, the export surge in bad debts, the rapid development of China's foreign trade sector under the awareness of risk re-vacancy.

Involved the sub-prime crisis, the United States has become the hardest hit exporters, especially China's foreign trade enterprises.

"By the sub-prime crisis, in the first half, we received a number of national reported year on year increase of 125%. The United States since the outbreak of the sub-prime crisis, many U.S. and European companies encounter cash flow difficulties, some of which European and American companies will shift the risk to China's export enterprises . "Wenzhou, China Export & Credit Insurance head office, said Zhou Yi told reporters.

The sub-prime crisis in U.S. corporate default rates rise. According to the China Export & Credit Insurance Corporation Wenzhou Office statistics, in March 2007 to February 2008, the Department received Wenzhou export loss cases reported involving a total amount of 8.7938 million U.S. dollars, an increase of 639% (the national values of the same period in the case of reported loss an increase of 250%). The reported loss in the case of Wenzhou, 75% of the cases the amount from the United States. Demonstrated by the U.S. sub-prime mortgage crisis has caused a major economic slowdown in developed countries, the impact on exports are constantly emerging.

Reported loss increased by 639% behind the case, which reflects the economic environment in large under the influence of China's foreign trade sector, especially export-oriented enterprises in Wenzhou suffered a debt crisis is being upgraded, but also to be getting worse.

Wenzhou sub-prime crisis has led to "a low and one high" International 5 1000 households in arrears Bangshangyouming

Ultimately passed on to the impact of a series of export enterprises themselves. To Wenzhou footwear companies, for example, buyers are relatively concentrated, the United States is the main market, due to the sub-prime crisis, dragging down the U.S. economy in general degree of consumer markets, leading to market demand. According to statistics, compared with a loss of Wenzhou shoe enterprises increased by 138% over the same period last year, dollar-denominated export growth rate of just 0.3%, if the calculation of export delivery value of the yuan business volume is actually a negative growth!

Not just shoe, Wenzhou's foreign trade can not be optimistic about the overall situation. Wenzhou City Development and Reform Commission, according to the disclosure of material: from January to April this year, the city's import and export, export, import growth in all three indicators below the national, provincial average, respectively, lower than the national 5.7,0.5 and 18.3 percentage points lower than the full Province, 6.2,2.9 and 17.8 percentage points.

Wenzhou's foreign trade sector as a whole in lower, the market also have to accept a not good news, "higher" phenomenon. Zhou Yi, told reporters that in 2008 a quarter of U.S. buyers do not increase the number of reported cases of loss, but the surge in the amount of reported losses. A quarter of U.S. buyers loss Chuxian the number of cases reported increased by 12.2% year on year; while the total amount of reported losses year on year increase of 144.4%. An increase in the number of cases reported little damage cases, the reported surge in the amount of damage, which indicates that in 2008 a quarter of U.S. buyers Chuxian single cases reported a higher loss rates, risk is more concentrated.

In fact, Wenzhou is not the case, the Yangtze River Delta, Pearl River Delta and other risks faced by foreign trade enterprises are increasing. Some buyers have even export enterprises due to payment arrears has been frozen China Export & Credit Insurance underwriting credit. So far, around the world because of China's export enterprises in arrears payments to overseas buyers, as well as the loss of solvent due to the bankruptcy of overseas buyers there are five more than 1000 families have been registered.

Nationwide, the first half of this year, China Export & Credit Insurance helps insurance companies tens of thousands of customers in the overseas corporate customers credit qualification survey. To private economic underdevelopment of Liaoning, for example, the first two months of this year, China's Export Credit Insurance Corporation, Liaoning Branch received a total of more than 20 companies reported export risks, the case of the value of more than 6 million U.S. dollars, respectively, 283% higher than the same period last year and 286 %. From the reported situation, the first two months this year, export enterprises face the risk has two characteristics: First, a low level of risk and areas of Europe and the United States and other developed countries the incidence of the risk of proliferation, accounting for more than half of the total reported over the same period last year by 333%; 2 in the report of "rejection" a total of nine cases, the ratio of up to 39%. "Rejection" proportional increase, often means that the buyer's ability to pay is inadequate and has made clear the buyer's degree of the host country's market economy down, these have led to the export business of property, loss of profits. Zhou Yi, told reporters that the United States the risk of buyers from the corporate type of view, involved buyers from various industries, traders, manufacturers and chain operators are, from the industry, the general area of a majority of consumer goods .

3% of the export credit insurance coverage below the international standards, the amount of reported losses over the same period two and half times Bizeng

Should be pointed out that the international trade event in the international arena debt default had long existed, but other countries, export credit system is very advanced for its own foreign trade sector has played a very good hedge and preventive role, while the China Export & Credit Insurance As the late start, many enterprises lack of knowledge, the U.S. sub-prime mortgage crisis has led to this phenomenon is very prominent.

Wenzhou Foreign Trade Export And Other Industries Affected By Red Light Pens

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