SINOSURE: "Red and green credit lights for small business" turned on for 150,000+ times as of early July 2021

On July 22, 2021, Cai Xiliang, Deputy Secretary of Party Committee, Vice Chairman and General Manager of China Export & Credit Insurance Corporation (SINOSURE) said at the 276th regular press conference of China Banking and Insurance Regulatory Commission that the digital credit service products like "red and green credit lights for small business" offered by SINOSURE effectively help small and micro foreign trade enterprises prevent risk, expand market and improve both quality and efficiency. 

As of early July 2021, the "lights" had been turned on for 150,000+ times for 89,000 enterprises in 207 countries and regions.

Cai Xiliang explained that due to the information asymmetry between overseas markets and buyers, the small and micro foreign trade enterprises find it difficult to get or dare not to accept new orders. Based on its most updated credit database covering more than 200 million overseas enterprises, 60 million Chinese enterprises and 4,000 listed companies at home and abroad, SINOSURE upgraded and iterated the serial products of digital credit services, such as "red and green credit lights for small business", "credit alarm for small business" and "credit navigator for small business". The "red and green lights" and "alarm" offer real-time online inquiry and dynamic push of risk information of overseas buyers while the "navigator" on the basis of SINOSURE's global trade statistics provides small business with data like contact information of purchasers and helps them explore overseas new markets and gain new orders in a targeted manner.