Banks And Insurance Companies Create Double Insurance For Foreign Trade.

< p > < strong > bank foreign exchange products lock in exchange rate risk < /strong > < /p >

Less than p ago, a foreign trade enterprise in the city received a sum of $300 thousand from foreign partners. The person in charge of the business looked at the exchange rate and went to the Bank of China for settlement.

But the exchange rate he settled is not the exchange rate of the day, but rather much higher than the exchange rate of that day.

The person in charge of the enterprise calculated that if he made the settlement according to the exchange rate of the day, his remittance would be reduced by 2000 yuan.

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< p > this is the new product of the Bank of China's new "Hui Li Bao" special exchange rate this year.

The company executives said that with the product, foreign trade enterprises' short-term foreign currency loans would not have to worry about the loss of exchange rate.

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< p > according to the relevant person in charge of the Wenzhou branch of the Bank of China, the function of "Hui Li Bao" is to set an exchange rate beforehand. After making the business, the enterprise can use this set interest rate to settle foreign exchange in the next 14 days.

Suppose that the exchange rate of US dollar to RMB is 6.09 today and that of "Hui Li Bao" today is 6.095. If an enterprise is to conclude a paction with the bank today, in the next 14 days, enterprises can make foreign exchange settlement at a price of 6.095.

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< p > the relevant person in charge of the Wenzhou branch of the Bank of China said that the quotations given by the "Hui Li Bao" will be higher than the previous bank's forward foreign exchange settlement and sale, and the exchange rate risk protection for the enterprises will be more powerful.

It is reported that in the first half of this year, the Wenzhou branch of the Bank of China has communicated with some of the import and export enterprises in need in the first half of this year. It has analyzed the characteristics and advantages and disadvantages of the product, and compared with similar products, accounting for the benefits it can bring to the company. In the end of 7 this year, it successfully made the first amount of Wenzhou's "Hui Li Bao" business for a trading company in the city in the end of this month.

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< p > according to the statistics of the Bank of China, as of the end of 9 this year, more than 330 Wenzhou enterprises have been involved in the pactions of the Bank of China "Hui Li Bao", with a total sum of over 200 million US dollars, and enterprises are expected to increase their income by nearly 2 million 300 thousand yuan.

Wenzhou has also become the best city in the province.

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Prior to P, foreign trade enterprises used bank tools to lock in exchange rate risks, and foreign exchange forward products such as foreign exchange and forward selling products could be selected.

Under normal circumstances, the forward exchange rate of < a href= "http://cailiao.sjfzxm.com/" > Bank < /a > will be lower than the current exchange rate. Therefore, although the enterprise can know the maturity rate in advance, it can not guarantee that the principal will not shrink.

The price given by "Hui Li Bao" is generally higher than the exchange rate of the day, so for foreign trade enterprises, it can really solve the risk of exchange rate.

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< p > < strong > the insurance product dissolves the risk of not receiving the loan: < /strong > /p >

< p > a city's eyeglasses foreign trade enterprise has begun to worry recently: the government of Brazil has decided to impose a high anti-dumping duty on the spectacle frames imported from China since October 1st this year.

Brazil is an important exporter of glasses for the company.

Brazil's anti-dumping policy on China's spectacles exports has greatly increased the risk of foreign exchange earnings, and it is possible for the company to face the risk of not receiving the money and returning the goods.

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< p > the business owner found the Wenzhou branch of PICC. The insurance company suggested that the company should insure "export credit insurance". After the insurance was covered, even if the buyer did not pay the bill, the loss would be borne by the insurance company and the company would not suffer any loss.

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< p > reporters learned from the PICC Wenzhou branch that at the end of April this year, the insurance company launched the policy insurance export credit insurance. At present, there are many foreign trade enterprises that Wenzhou intends to insure, and more than 10 enterprises have been insured.

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< p > according to the relevant person in charge of the company, the export credit insurance is the personal insurance property insurance which was commissioned by the Ministry of Finance in the Chinese market in the 80s of last century. Until 2001, the export credit insurance business was stripped from the PICC, and the export credit of China was < a href= "//www.sjfzxm.com/news/index_cj.asp" > the insurance company < /a >.

This kind of insurance has been carried out by China Export and Credit Insurance Corp since 2001 to the end of this year. At present, the penetration of the insurance has increased from zero to around 13%, which has exceeded the national average level, but is lower than the average level of the whole province.

However, because of the high probability of unpredictable risks encountered by foreign trade enterprises, such penetration can not fully cover risks.

Since April this year, PICC has resumed the insurance.

"The introduction of commercial insurance can enhance the service level of the insurance."

The person in charge said.

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< p > it is reported that the premium rate for the same insurance amount of the insurance is relatively large. The state of the economy, the length of account, the way of settlement, the size of the buyer's credit and the size of the insurance (the difference between the whole business and the selection business) will affect the premium.

For the same amount, the premium difference can be more than 10 times.

Not long ago, an enterprise in our city packaged all the export business to the PICC and insured it for 1 million US dollars. After a comprehensive inspection, the insurance company gave a premium of about $4000.

After the enterprise has insured the insurance, it can venture to carry out the business, and the loss caused by the buyer's breach within 1 million dollars is borne by the insurance company.

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< p > it is worth noting that the state gives a certain proportion of the enterprise "a" href= "//www.sjfzxm.com/news/index_h.asp" > premium less than /a to support the insurance company.

However, the proportion of support varies from place to place. The reporter has learned that the premium subsidy for the insurance is different in different parts of the city. For example, the government of Ruian has insured the insurance premium of 80% of the insurance for some industries in the city, while another county in our city has insured the insurance company with 50% of the insurance premium.

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