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
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
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
#Report Corruption #SearchPosts #TakePicturesVideos
November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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