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ACFIC, SINOSURE to enhance support for go-out private enterprises

Date:2020-09-30 10:15:00

The All-China Federation of Industry and Commerce (ACFIC) and the China Export & Credit Insurance Corporation (SINOSURE) signed an agreement on deepening strategic cooperation, and held a symposium with “going out” private enterprises.
 


The two agreed to deepen cooperation on helping private enterprises participate in the construction of Belt and Road with high quality and develop foreign trade steadily.
 
Gao Yunlong, vice chairman of the CPPCC and chairman of the ACFIC, attended the meeting. Xu Lejiang, vice minister of the United Front Work Department of the CPC Central Committee and ACFIC’s executive vice chairman, and Song Shuguang, chairman of SINOSURE, addressed the meeting.
 
Cai Xiliang, general manager of SINOSURE, and Zhang Hui, vice general manager, attended the meeting, which was presided over by Qiu Xiaoping, ACFIC’s vice chairman.
 
On the agreement signing ceremony, SINOSURE paid compensation to five private enterprises from Beijing, Shenzhen, Ningbo cities and Guangdong and Jiangxi provinces.
 


That showed credit insurance played an important role in supporting private economy, protecting market players, maintaining industrial chain and supply chain stability and stabilizing foreign trade.
 
Following the signing was the symposium of go-out private enterprises, where nine companies introduced their production situation and problems faced in the process of going global.
 
They also put forward suggestions on playing the role of export credit insurance and strengthening financial support for go-out private enterprises.
 
Managers from the transaction banking department of the Bank of China and the China Citic Bank International Business Department introduced their support for the go-out private enterprises and put forward thoughts on future plans of helping them.
 
Xu Lejiang said that the world was experiencing big changes unprecedented in a century. And the COVID-19 epidemic only sped up this change, where international economic and political structures had been adjusted profoundly.
 
To confront this new trend, private enterprises should keep confident of development, develop foreign trade and investment steadily, make full use of both domestic and overseas markets and resources, and help build a new pattern of development.
 
The strategic cooperation agreement signed by the ACFIC and SINOSURE was an implementation of the spirit of Chinese President Xi Jinping’s remarks on the work of private enterprises in the new era, and was an important approach to carry out the “six stabilize” and “six guarantee” policy made by the CPC Central Committee.

 
The meeting and agreement were of great significance to support private enterprises to explore overseas markets, participate in the construction of the Belt and Road with high quality, and promote the construction of a new development pattern.
 
Xu stressed that for future development the ACFIC and SINOSURE should take this agreement as an opportunity to support and serve private enterprises in their efforts to “go global” by keeping the foreign trade base stable, optimizing the structure of outbound investment and keeping the lifeline of risk control.
 
 The “special action of supporting private enterprises to carry out steady international cooperation” should be organized and carried out by the combined forces of the two sides, constantly pushing for deeper and more solid cooperation between the two sides, said Xu.
 
He hoped that the Bank of China, China Citic Bank and other financial institutions would continue to support private enterprises in carrying out foreign trade and investment, and strengthen financial services for micro, small, and medium-sized businesses.
 
ACFIC branches should work with the branches of SINOSURE to  give full play to the risk protection and financing facilitation functions of export credit insurance to better support private enterprises that go global in effectively coping with the impact of the COVID-19 epidemic and resuming work and production in an orderly manner.
 
Song Shuguang said that private enterprises had become important force to promote social economic development, and supporting private economy was stipulated by national policies and tasks such as the “six stabilize” and “six guarantee”.
 
As a policy-based financial institution, SINOSURE had attached great importance to supporting private enterprises going global and exploring international market since its founding, said Song.
 
According to him, when the pandemic broke out, SINOSURE urgently introduced phased and unconventional measures such as the “10 special projects” and the “23 Opinions” to bail out enterprises, helping them stabilize export and expand financing to combat the epidemic.
 
SINOSURE provided credit insurance policy resources to private enterprises in a balanced and precise manner, especially the micro, small, and medium-sized private enterprises under great pressure in the process of epidemic prevention and control and resumption of work and production.
 
Song said that SINOSURE attached great importance to strengthening cooperation with ACFIC, and would jointly serve national strategies and support the development of private enterprises.
 
Since the breakout of the epidemic, the two sides had worked together to guide private enterprises to guard against import and export risks and increase financial support.
 
He said that the signing of the agreement to deepen strategic cooperation was a milestone of mutual cooperation and was bond to open a new chapter of jointly supporting private enterprises.
 
Sixteen private enterprises from Beijing, Shanghai and Jiangsu, Hubei, and Guangdong provinces attended the symposium, including companies for overseas investment and foreign trade, half of which were micro, small and medium sized enterprises from industries and fields such as intelligent communication, medical devices, electric power, new materials, cross-border e-commerce, and international trade etc.
 
Directors from the ACFIC and SINOSURE related departments also attended the meeting.
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