China News Service, 9 29: The National Financial Regulatory Administration's website reported on 29 that the NFRA and the Ministry of Commerce have jointly issued the "Notice on Strengthening Collaboration Between Commerce and Insurance to Improve Domestic Trade Insurance" (hereinafter referred to as the "Notice").
The Notice supports provinces and cities with strong foundations, significant potential, and clear commitment in eastern regions—such as Beijing, Jiangsu, Fujian, Guangdong, and the planned single-list cities of Ningbo and Shenzhen—as well as central and western regions like Hunan and Sichuan. These areas are encouraged to intensify practical exploration and summarize effective experiences tailored to local conditions. Additionally, more provinces and cities with the necessary capacity and willingness are urged to expand coverage and increase limits for domestic trade insurance based on their specific circumstances.
The Notice encourages insurance institutions to leverage industry chain leaders and backbone enterprises to implement upstream-downstream chain-based underwriting, embedding domestic trade insurance throughout the full development cycle of key industry chains.
The Notice emphasizes support for emerging and SME needs. It encourages insurers to expand credit assessment criteria, clarify risk control standards, and develop differentiated underwriting solutions tailored to new sectors and business models, thereby precisely supporting the development of service trade, digital trade, green trade, and other emerging scenarios. Insurers are urged to allocate more domestic cargo insurance resources to enhance the smooth flow of goods and services in logistics and circulation sectors.
The Notice calls for refining the operating mechanism of the domestic insurance consortium to strengthen insurers' willingness to underwrite. It emphasizes accelerating the development of a consortium information service platform to optimize online application submission, limit assessment, and claims coordination processes, thereby improving service efficiency. For large-scale credit needs in emerging industries such as semiconductors, computing power, and new energy vehicles, the Notice explores leveraging the consortium model to pool industry resources and provide support.
The Notice calls on relevant departments to strengthen the collection, sharing, and application of commercial credit information. Under legally compliant, secure, and controllable conditions, it will progressively open access to public enterprise credit data for insurance providers. Insurance institutions are encouraged to integrate multi-dimensional data—including counterparty creditworthiness, litigation records, and industry performance—and use big data models to precisely assess enterprises' repayment capacity and willingness to fulfill obligations.
The Notice supports the establishment of shared mechanisms by insurance industry organizations for reporting fraud risk clues in domestic trade and warning about major dishonest transaction subjects. It strengthens collaborative mechanisms among government agencies, industry bodies, and insurers, and increases joint prevention and punishment efforts against dishonest enterprises in accordance with the law.
The notice emphasizes coordinating existing funding channels and leveraging multiple approaches, such as government-bank-insurance collaboration, to guide integrated domestic and foreign trade enterprises in using domestic trade insurance to mitigate trade risks. It encourages local authorities to effectively utilize domestic trade insurance tools and supports regions with appropriate conditions to develop targeted policies for key sectors, offering premium subsidies for enterprises purchasing domestic trade insurance coverage. Local governments are also tasked with supporting insurance companies in conducting claims recovery activities for domestic trade insurance in compliance with laws and regulations. (China News Jingwei App)
