More Support for Export Credit Insurance

China is stepping up support for export credit insurance to spur the stable growth of foreign trade, according to a circular released by the Ministry of Commerce and the China Export & Credit Insurance Corporation.

The circular urges that timely attention be given to difficulties facing small and medium-sized trade firms with targeted efforts to expand insurance coverage while cutting the costs.

It details measures that can be taken to encourage the growth of emerging foreign trade models such as cross-border ecommerce and overseas warehouses.

Chinese regulators will also help the whole industry chain make full use of domestic trade insurance to spur the coordinated development of domestic and foreign trade.

Meanwhile, financing for short-term insurance policies will be increased through the cooperation among governments, banks, and insurance companies.