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Increased sovereign risks facing Chinese companies

12-20-2011 10:39 BJT

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Also keeping markets on edge today, was Fitch's warning that it may downgrade seven European nations. These warnings from the major agencies have become commonplace in recent weeks as the region's crisis deteriorates. Now the largest provider of export credit insurance in China is taking matters into its own hands. SINOSURE released a report today, in which one third of the countries researched were flagged as having increased sovereign risk concerns that will directly affect Chinese enterprises.

In a report released by China Export & Credit Insurance Corporation, SINOSURE, 192 countries around the world, mostly China's trade partners, were evaluated for their sovereign risks. According to the report 65 countries have had changes in their risk ratings, with the United States and several European countries, such as Greece and Ireland cited for direct risks to Chinese enterprises. Risk in Africa and South America declined from previous years.

Xie Zhibin, assistant GM of SINOSURE said: "More and more risks factors will be exposed with increasing complexity. Based on last year’s high risk expectations, there will be an obvious trend of pessimistic outlook on risk factors."

Last but not the least, the report also gives out warnings on industries facing mounting risks in Europe and the US. Heavy industries such as steel, coloured metal and chemistry; also high-tech industries such as solar energy and electronic engineering, are also facing greater risks.

 

Editor:Zhang Rui |Source: CNTV.CN

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