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China Sees Surging Export Credit InsuranceChina's export credit insurance business, an insurance service covering export risks, has enjoyed an annual growth rate of 47 percent since it came into being in 1998, according to a report in Monday's Economic Daily.The country's export credit insurance service providers now offer a variety of services including short-term export credit insurance and export buyer's and seller's credit insurance. Export credit insurance is provided for exporters, who are entitled to an indemnity upon failure to receive payment for goods. Statistics show that 75 countries and regions of the world have special organizations for export credit insurance, and this insurance accounts covers some 12 percent of all exported goods.
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