2012 China PV compensation increased by 161.4% year-on-year

Affected by the rise of trade protectionism in Europe and the United States, the systematic risks of China's photovoltaic industry continued to rise in 2012. According to data released by the China Export Credit Insurance Corporation on the 21st, in 2012, the company’s short-term export insurance photovoltaic industry incurred a total of US$150 million in compensation, which was a year-on-year increase of 161.4%.

Since 2012, the real economy of some developed countries has been deteriorating, the unemployment situation has intensified, the ability of overseas importers to drop significantly, and trade protectionism has gradually risen. As a result, China's export enterprises are facing greater risks of export foreign exchange and a shortage of funds for export. The latest data shows that in 2012 China Credit Insurance has paid compensation of 1.18 billion U.S. dollars to 1,838 enterprises, an increase of 24.9% year-on-year.

The relevant person in charge of the company expects that the international economic situation in 2013 will remain severe. With the continuous expansion of the company's underwriting scale, the annual indemnity of China Insurance Insurance will increase.