- About Wuxi
On May 6, the Wuxi Municipal People’s Government and China Export & Credit Insurance Corporation Jiangsu Branch signed a strategic cooperation agreement. Based on the previous cooperation, the two parties will deeply implement the keynotes of the important speech of General Secretary Xi Jinping on the overall planning of pandemic prevention and control and economic and social development, further deepen all-round cooperation and give full play to the important role of policy credit insurance of "stabilizing foreign trade, promoting investment and facilitating financing". Du Xiaogang, Mayor of Wuxi, attended the signing ceremony and met with the group led by Pan Shuigen, Secretary of the Party Committee and General Manager of China Export & Credit Insurance Corporation Jiangsu Branch. Zhu Aixun, member of the Standing Committee of the CPC Wuxi Municipal Committee and Executive Deputy Mayor of Wuxi, presided over the ceremony. Zhou Changqing, Deputy Mayor of Wuxi, and Lin Feng, Deputy General Manager of China Export& Credit Insurance Corporation Jiangsu Branch, signed the cooperation agreement on behalf of both parties. Zhang Mingkang, Secretary General of the Wuxi Municipal People’s Government, participated in the event.
Wuxi has been cooperating with China Export & Credit Insurance Corporation for a long time. Early in 2012, they established strategic partnership. Since the outbreak of the COVID-19 pandemic, China Export & Credit Insurance Corporation has cooperated with commercial departments of Wuxi to effectively support enterprises to resume production by introducing supporting policies and opening up fast-tracks of China Export& Credit Insurance Corporation. In the first quarter in 2020, China Export & Credit Insurance Corporation accepted insurance of a total of USD 3 billion in foreign trade exports from Wuxi, guaranteed overseas investment interests of USD 180 million of Wuxi enterprises, paid indemnity of a total of USD 2.49 million to Wuxi enterprises and served 1,489 small and micro-sized enterprises.
According to a new round of strategic cooperation agreement, from 2020 to 2022, China Export & Credit Insurance Corporation will provide Wuxi with an insurance scale of more than USD 40 billion, namely providing policy credit insurance protection for more than 7,500 Wuxi enterprises. Both parties will focus on the development of inclusive financial services. The "Export Credit and Blanket Insurance Platform for Micro, Small and Medium-sized Enterprises in Wuxi” will cover no less than 6,000 small and micro, small and medium-sized enterprises from 2020 to 2022, reducing the burden for enterprises by more than 500 million yuan. The two parties will also innovate financing model and launch special financial support measures with policy banks to provide various companies with "insurance + financing" solutions, thus better supporting their development.
Various agreements were signed at the signing ceremony, including the “policy-banking-credit” inclusive agreement between China Export & Credit Insurance Corporation and commercial departments and banking and insurance regulatory commissions of Wuxi, the insurance agreement between China Export & Credit Insurance Corporation and some “Belt and Road” key investment projects in Wuxi, the granting agreement of policy financing credit among China Export & Credit Insurance Corporation, Export-Import Bank of China and some export enterprises and the expansion agreement of "Foreign Trade Micro Loan" among China Export & Credit Insurance Corporation, Bank of China, Bank of Ningbo, China Merchants Bank and Bank of Shanghai. (Photo/Wuxi Daily)