Two departments issue stable and orderly documents to promote the expansion of domestic trade insurance coverage

Beijing, October 8th (Reporter Wang Junling) In order to deepen cooperation between commerce and insurance, fully leverage the role of domestic trade credit insurance (hereinafter referred to as "domestic trade insurance"), and actively serve the strategy of expanding domestic demand, the State Administration of Financial Supervision and Administration of China and the Ministry of Commerce recently jointly issued a notice on strengthening the coordination between commerce and insurance to do a good job in domestic trade insurance.

The notice proposes to support Beijing, Jiangsu, Fujian, Hunan, Guangdong, Sichuan, Ningbo, and Shenzhen to increase their efforts in exploring domestic trade insurance practices, and encourage more regions with conditions and willingness to promote the expansion and increase of domestic trade insurance based on their own actual situations. At the same time, the notice specifies 9 key tasks, including accurately expanding potential customers, supporting the needs of emerging and small and medium-sized entities, improving the supply of guarantee capabilities, fully leveraging the role of co insurance, promoting credit data sharing, strengthening business risk prevention and control, establishing industry collaboration mechanisms, strengthening domestic trade insurance supervision, and increasing publicity and promotion efforts.

It is reported that this notice will help explore effective experiences and practices in domestic trade insurance according to local conditions, strengthen domestic trade insurance supervision, prevent and resolve domestic trade insurance risks, and steadily and orderly promote the expansion of domestic trade insurance underwriting scale and coverage. Next, the State Administration for Financial Regulation and the Ministry of Commerce will focus on the implementation work, closely monitor the implementation effects in various regions, and better leverage the positive role of domestic trade insurance in expanding domestic demand and accelerating the integrated development of domestic and foreign trade.