BEIJING: China has warned exporters they may end up not getting their money as the international financial crisis has eroded foreign banks’ and importers’ ability to pay.
“Some foreign commercial banks are suffering from insufficient liquidity and cases of malicious debt evasion and breach of contracts by importers in certain nations or regions are on the rise,” the commerce ministry said in a statement.
The statement urged government agencies, insurance firms and industry associations to closely monitor credit ratings of foreign banks and the business operations of overseas importers.
It also encouraged exporters to buy export credit insurance to protect themselves.
The official Xinhua news agency said Monday that China Export and Credit Insurance Corporation, the nation’s only provider of export credit insurance, paid $210 million in indemnities in the first 11 months of 2008.
That is up 174.5 percent from the same period in 2007, it said.
In December, the insurer reduced credit ratings for a record 48 countries including the United States.– AFP
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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