.contact us |.about us
News > Business News ...
Leading credit insurer launches Beijing office
( 2003-10-29 09:03) (China Daily)

Coface, a world leader in credit insurance and also a credit management service provider, opened its Beijing office yesterday to develop the local corporate trade credit market.

It is the first foreign credit insurer to establish a representative office in Beijing.

Credit insurance is a special form of insurance, which covers the risk of non-payment by corporate buyers whether they are involved in export or domestic trade.

Coface Regional Managing Director for China Operations Richard Burton said there is immense scope for developing China's corporate trade credit market, which is believed to be essential to supporting continued economic growth.

"We are encouraged as we have observed encouraging signs, including keen interest by the authorities in business-to-business credit in China, and there is already fairly good credit information that can be enhanced and made more sophisticated," he said.

France-based Coface also signed an agreement with China Merchants Bank (CMB) to incorporate its web-based rating solutions into the bank's online platform.

By deploying rating solutions in its online platform, CMB is enabling its customers to check the credit worthiness of 44 million companies worldwide, which can help local companies to lower trading risks.

They can also demonstrate their own capability to pay, and can obtain more favourable payment terms by obtaining a Coface rating label.

Coface also took another important step by issuing China's first domestic credit insurance policy, with the co-operation of Ping An Property & Casualty Insurance Co.

  Today's Top News   Top Business News
+NPC approves road traffic, securities laws
( 2003-10-29)
+Madame Soong Mei-ling remembered by all Chinese
( 2003-10-29)
+Wen meets Evans, trade balance highlighted
( 2003-10-29)
+Focus on sustaining growth
( 2003-10-29)
+2004 gains to be offset by rebate
( 2003-10-29)
+Loan growth begins to slow down
( 2003-10-29)
+China's trade surplus to dive in 2004: report
( 2003-10-29)
+Wen meets Evans, trade balance highlighted
( 2003-10-29)
+Sina reports US$32 m in Q3 revenues
( 2003-10-29)
+Leading credit insurer launches Beijing office
( 2003-10-29)
  Go to Another Section  
  Article Tools  
  Related Articles  

+Munich Re sets up China unit

+Insurers to tap mainland potential

+Health insurance sector called for

+Credit Suisse boss hails China's finance reform

+Liberty Mutual targets Chongqing

+US insurance giant set to enter China

+New insurance to cover rural workers

+AIG seeks 9.9% stake in PICC

+Insurance pays 13.3b yuan accident indemnity

+Manulife to buy John Hancock

+PICC Property plans HK share sale

+Insurance field gets extra push

+Commentary: Deposit insurance benefits all

+AIDS insurance arrives

+Ping An to provide insurance to oversea students

+Taiping sees new revenue source

+Foreign students to enjoy insurance coverage

        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved