| China has joined in WTO for nearly 20 years.During this time,it has used "high-foreign trade growth rate" as a measure of performance.Today,under the deterioration of the international situation,the weakness of world's economic growth has been emerged gradually,the world economy is facing new challenges in recent years.At the same time,trade unilateralism and protectionism are becoming more and more intense,and overseas market demand continues to slow down.In the context of increasing global economic uncertainty,the risks faced by exporting companies are also increasing with the changes in the market.Foreign customers often default on the payment of goods through various means for various reasons,and the bankruptcy phenomenon of foreign customers has repeatedly occurred.Eventually,export companies have a large number of overdue accounts,resulting in different levels of bad debts.In order to open up the international market,expand overseas sales and stabilize customer resources,credit sales have become an indispensable means.Therefore,the requirements for credit risk management are getting higher and higher.As a typical import-export company,HT exports mainly textiles,with an annual export value of about 150 million US dollars.Since 2012,the overdue of exports have been increasing and it was up to 5% of exports in 2017,and HT's credit risk is rising.Based on the existing credit risk management theory,and a number of interviews with business personnel and management personnel of HT,this paper analyzes credit risk occurrence cases of HT Company,and finds the following problems.First,the internal risk awareness of HT Company is weak,and foreign trade expertise is lacking.Second,the internal guarantee mechanism of creditor's rights is not perfect,and the product competitiveness is not strong.Third,the evaluation of foreign customer's credit is subjective and one-sided,the dynamic monitoring is not in place,and export credit risk transfer measures lacks a lot.All above,these situations has hidden dangers for the later collection.The external international environment has deteriorated,and policy changes in exporting countries have accelerated,the textile industry remains in the doldrums,irregular-operating banks,poor reputation buyers' purchase intentions and weak capabilities,longer account periods and depreciation of exchange rate in emerging markets are also the external causes of overdue accounts receivable and even bad debts.According to the existing export credit risk management status and causes of HT,following the research procedure of raising questions,analyzing problems and solving issues,this paper has put forward corresponding solutions.Perfect risk management system,good risk organization structure,high-quality risk management personnel and excellent risk management technology are the four essential elements of risk management.The four-dimensional analysis method is used to analyze the foreign customers beforehand,and the customer credit evaluation is carried out by means of export credit insurance.The real-time docking of the ERP management system and the export credit insurance company is used to track the business process in real time,so as to timely discover and process.And actively use international factoring,forfaiting,export invoice financing and other financial instruments to recover the money in advance;analyze the problem in a timely manner,adopt a positive attitude,determine different methods of account recovery according to different situations,and adopt different recovery strategies at different stages.Risk management is effectively controlled to reduce exchange earnings risk while expanding sales.And pay special attention to the details of the actual operation of HT company in the process of credit risk management,and it is more operability.It also provides reference and suggestions for the same type of company in China,and improves the level of export credit risk management. |
PDF Full Text Request