General

Wang Fujian, the head of the Credit Evaluation Center of China Export and Credit Insurance Corporation and the Overseas Investment Risk Research Group, recently analyzed the trade and investment risks of RCEP member countries in the 2022 online special training class on RCEP promotion. He said that under the influence of the global epidemic, the conflict between Russia and Ukraine, and the increasing uncertainty of the global economic recovery, the current credit risk of enterprises exporting to RCEP member countries is high, which is reflected in the more difficult recovery, more enterprises suffering from payment arrears, and the increased proportion of severe delays.

"At present, international trade enterprises need to improve their awareness of credit risk. Enterprises should attach importance to overseas credit risk and improve their own risk control capabilities." Wang Fujian suggested that enterprises should master the external credit situation, study and analyze country risk, industry risk, enterprise risk and regional economic development; The internal risk control capability shall be improved and a risk control system shall be established. Establish credit management system in customer development and customer negotiation; Establish a customer credit system during contract signing and contract performance; In the process of collection due and collection in arrears, an account monitoring system has been established to achieve full coverage of credit risk control in all links of the sales process.

Wang Fujian said that the effectiveness of RCEP has effectively promoted the liberalization and facilitation of intra regional trade and investment. However, the business environment of each member state of RCEP is different. In addition, the world economic recovery is difficult, and Chinese enterprises are also facing certain risks in their investment in the RCEP market. For example, the global debt risk is more serious, debt relief and debt relief affect infrastructure investment, business environment risks, and the proportion of investment promotion policies in some countries is significantly reduced.

"The report of the 20th National Congress of the Communist Party of China proposed that we should promote high-level opening up. We should steadily expand the institutional opening up of rules, regulations, management, standards, etc. We should speed up the building of a trade power. We should promote the high-quality development of the the Belt and Road. So we can definitely feel that the state encourages enterprises to expand overseas markets in a high-quality way." Wang Fujian said that, therefore, international trade enterprises should adhere to overseas development and strengthen scientific and technological innovation investment in overseas investment and development. In the future, China Export and Credit Insurance Corporation will strengthen the research and judgment of the global political pattern, study the future economic development trend, and provide help for enterprises to avoid management risks.

It is understood that in September this year, China Export and Credit Insurance Corporation released the Analysis Report on the Trade Credit Environment of RCEP Countries for the first time, and will update the report every year. In combination with the feedback from the majority of export enterprises, it will continue to deepen data analysis, improve the model monitoring system, and provide guidance for international trade enterprises to expand the RCEP market and understand credit risks.

Cao Yawei, Deputy Director of the Institute of Foreign Investment and Cooperation of the Research Institute of the Ministry of Commerce, put forward the following four suggestions for enterprises to carry out trade and investment cooperation in the RCEP region: First, when carrying out trade and investment cooperation with member countries, enterprises should deeply understand the relevant rules of RCEP in combination with their own international development strategies, and actively and steadily carry out regional foreign investment; Second, accelerate the integrated development of investment and trade. On the one hand, make full use of regional cumulative rules to promote the integration of investment and goods trade, and create a stable, safe and efficient regional supply chain system; On the other hand, explore ways and means of integration of investment and service trade, innovate investment methods, and drive high-quality development of service trade; Third, we should attach great importance to the construction of the compliance system. On the one hand, we should strengthen the construction of the internal compliance system and improve the internal risk control level of the company; On the other hand, we should earnestly abide by the laws and regulations of the host country and relevant international rules, such as taxation, technology transfer, cross-border capital transfer, labor, environmental protection, etc; Fourth, adhere to the principle of mutual benefit and win-win results, and actively contribute to the international trade, economic and social development of the host country.