Let Shaanxi Textile Enterprises "Go Out To Sea" More Confident

"There has never been such a large amount of overdue payment in more than ten years. Fortunately, export credit insurance has helped us reduce our losses, and we will have more confidence in the international market in the future." October 13, Shaanxi Kaicheng clothing import and Export Co., Ltd. (hereinafter referred to as Shaanxi Kaicheng) chairman and general manager Li Wenqi said.

At the end of last year, Shaanxi Kaicheng shipped two batches of textiles to a customer in the United States, with a total value of more than 3 million yuan. Unexpectedly, after receiving the goods, the customer defaulted on payment with various excuses. At the beginning of this year, the enterprise still needs money to return to production as soon as possible. Shaanxi Branch of China Export Credit Insurance Corporation (hereinafter referred to as "Shaanxi Branch of China Export Credit Insurance Corporation") quickly intervened after understanding the situation, guided enterprises to promote the process of submitting claims, and actively contacted the relevant agencies in the host country to urge them to handle the claims. Shaanxi Kaicheng quickly obtained 3.3 million yuan of compensation, and the enterprise was able to operate normally.

Baoji Huayuan Textile Co., Ltd. also encountered such "default" customers. As the other side is an old customer, the credit is very good for a long time, the company has delivered goods to customers continuously, but I didn't expect that the payment for goods would not be returned for 11 consecutive orders. Due to the export credit insurance, with the help of SINOSURE's overseas channels, the company has successively processed six of the goods and received a one-time payment of 3.2 million yuan from SINOSURE Shaanxi Branch in March this year, making up most of the losses.

In recent years, due to the adverse effects of Sino US trade friction, the credit risk of global textile market has increased year by year. According to the latest survey by the International Federation of textile manufacturers (ITMF), since the outbreak of new crown pneumonia in March this year, textile orders around the world have plummeted by more than 40%. China's textile exports to Europe, the United States, Japan and other major markets have declined to varying degrees.

In order to stabilize the basic market of Shaanxi foreign trade and help foreign trade textile enterprises to "go out" against the trend, SINOSURE Shaanxi branch actively performs policy functions and helps enterprises to "go out" at ease. Over the past three years, the company has supported the export of Shaanxi textile industry by nearly 2.7 billion yuan and paid compensation of nearly 22 million yuan. Under the "escort" of export credit insurance, many textile enterprises in our province continue to develop and grow. They not only go abroad, but also go more steadily and better.

Shaanxi Huaye Textile Co., Ltd. (hereinafter referred to as Huaye textile), located in Changxing Textile Industrial Park of Meixian County, a national foreign trade transformation and upgrading base, is a small and micro enterprise integrating textile production, processing, sales, import and export. Since engaging in textile export in 2018, Huaye textile has started to take out SINOSURE's SME policy. Under the escort of export credit insurance, Huaye textile boldly "went to sea". In just two years, the annual export volume of the enterprise increased from less than 1.2 million yuan at the beginning to nearly 12 million yuan, and the export scale expanded nearly 10 times. After the outbreak of this year's epidemic, the risk of overseas market has increased sharply. Various risks such as order cancellation, buyer's rejection and buyer's default broke out. SINOSURE Shaanxi Branch helped enterprises properly handle the cases of buyer's rejection in Vietnam and other countries, and paid compensation of more than 200000 yuan, which solved the enterprise's urgent need.

"Every time we receive an order from a new customer, we will contact SINOSURE in a timely manner to ask them to assist us in investigating the customer's credit situation and the other party's local assets." Wei huangtuo, general manager of Huaye textile, said that with the protection of policy export credit insurance, small and medium-sized enterprises can safely and boldly explore the international market.

Shaanxi Qinyuan Textile Co., Ltd. (hereinafter referred to as Qinyuan textile), which is in the same industrial park as Huaye textile, started to take out export credit insurance six years ago. In the past six years, with export credit insurance as the "backing", the export volume of Qinyuan textile was nearly 1.3 billion yuan, and the Shaanxi Branch of SINOSURE paid more than one million yuan. At the same time, SINOSURE Shaanxi branch actively provides value-added services, through in-depth enterprise research, sending country information regularly, assisting in investigation of buyer's credit situation, organizing business training and other means, comprehensively combed and "examined" Qinyuan textile's overseas market and export business process, so as to help Qinyuan textile improve its own risk management system.

Li Xiuping, general manager of SINOSURE Shaanxi Branch, said: "in the next step, we will continue to provide diversified and refined export credit insurance services for Shaanxi textile export enterprises, and continue to escort the Shaanxi textile industry to the sea."