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发帖数: 11508 | 1 Debts to Chinese exporters hit US$150 bln
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China's small- and medium-sized exporters, while fighting domestic woes such
as rising costs, have to deal with another from the international front -
huge and increasing debts by buyers.
Estimates by China Chamber of International Commerce show that Chinese
companies are owed at least $150 billion debt abroad, with an annual
increase of $15 billion each year over the past three years.
"Most of them have little chance to be claimed," said Lin Shunjie, deputy
secretary-general of the chamber. Some debts have been overdue for four or
five years and many debtors have gone bankrupt.
The China Export and Credit Insurance Corporation, the country's only export
insurer said that in the past, African, Russian, Middle Eastern, Eastern
European and Latin American companies owed money.
Since 2008, many companies from Western Europe and North America have been
added to the blacklist and made up 50 percent of new defaults.
Lin said many companies in Europe and the US barely survived the financial
crisis, and cannot afford to pay the full amount to the exporters.
"But some of them are doing this on purpose," he said.
Due to the traditional belief that business partnerships should be based on
mutual trust, many small companies in China do not sign contracts with
overseas customers.
"Victims are mostly small export companies in southeast China," he said.
Amounts owed would range from $10,000 to $1 million.
Many Chinese companies are either contracted manufacturers or exporters of
low-end products such as toys and textiles. The average profit for each deal
is below 3 percent.
With such low margins, many of the companies do not use debt collectors to
pursue their debtors. The internationally recognized charge for a debt
collection case is 15 percent of any money retrieved.
Compounding their problem is the fact that in 2000, debt collection
companies have been banned from operating in China.
However, Lin Junyue, deputy director of China Market Commission Credit
Management Association, estimated there are several thousand companies doing
this business, under different disguises, in China.
Zhang Yanling, vice-president of Bank of China, China's largest foreign
exchange lender, said many small companies in China sell their goods abroad
on credit.
"It is a buyers' market in the world, especially during the financial crisis
, so most of the small companies have to do that to attract customers." | c*********k
发帖数: 4747 | 2 白人没钱就欠,需要钱就抢.
such
【在 x*********g 的大作中提到】
: Debts to Chinese exporters hit US$150 bln
: 0 CommentsPrint E-mail China Daily, September 20, 2010
: Adjust font size:
: China's small- and medium-sized exporters, while fighting domestic woes such
: as rising costs, have to deal with another from the international front -
: huge and increasing debts by buyers.
: Estimates by China Chamber of International Commerce show that Chinese
: companies are owed at least $150 billion debt abroad, with an annual
: increase of $15 billion each year over the past three years.
: "Most of them have little chance to be claimed," said Lin Shunjie, deputy
| M*****8
发帖数: 17722 | 3
such
丢了里子，得个面子，值！
再接再厉，为国争光。
-- 阿Q真传。
【在 x*********g 的大作中提到】
: Debts to Chinese exporters hit US$150 bln
: 0 CommentsPrint E-mail China Daily, September 20, 2010
: Adjust font size:
: China's small- and medium-sized exporters, while fighting domestic woes such
: as rising costs, have to deal with another from the international front -
: huge and increasing debts by buyers.
: Estimates by China Chamber of International Commerce show that Chinese
: companies are owed at least $150 billion debt abroad, with an annual
: increase of $15 billion each year over the past three years.
: "Most of them have little chance to be claimed," said Lin Shunjie, deputy
| v****e
发帖数: 895 | |
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