I.   Phase I    1978 

II.  Phase II   1979-1983 

III. Phase III 1984-1989 

IV.  Phase IV  1990-1999 

V.   Phase V   2000-2012

VI.  Phase VI  2013-2018 

VII. Phase VII 2019-present

I. Government Concessional Loan 

1. Scope of application

2. Competent units 

3. Loan recipients 

4. Loan period 

5. Loan interest rate 

6. Loan currency 

7. Basic conditions for loan application 

8. Financing structure 

9. Operation process 

10. Project implementation and post-credit management

II. Preferential Buyer's Credit 

1. Scope of application 

2. Loan recipients 

3. competent units

4. Loan period

5. Loan interest rate 

6. Loan Currency

7. Loan application conditions 

8. Financing structure

9. Operating procedures 

10. Project implementation and post-loan management

III. Comparison of Government Concessional Loan & Preferential Buyer's Credit 

IV. Required assessment materials for Government Concessional Loan & Preferential Buyer's Credit

(i) Basic materials 

(ii) Project information 

(iii) Design unit information 

(iv) Construction unit information 

(v) Owner's information

I. Export buyer's credit financing

(i) Export buyer's credit

1. Definition 

2. Loan objects 

3. Loan period 

4. Loan interest rate 

5. Applicable conditions 

6. Financing characteristics 

7. Structure of Export Buyer's Credit 

8. Export Buyer's Credit Operation Procedure

(ii) Export Buyer's Credit Insurance 

1. Definition 

2. Underwriting Risks 

3. Basic conditions for underwriting 

4. Odds ratio 

5. Factors Affecting Premium Rates 

6. Insurance Process 

(iii) Matters and materials involved in export buyer's credit 

1. filing with the Ministry of Commerce

2. Letter of support from the two chambers of commerce

3. Evaluation information of financial institutions (banks and credit insurance)

II. Export seller credit financing 

(i) Export Seller's Credit 

1. Definition 

2. Loan recipients 

3. Loan term 

4. Loan interest rate 

5. Applicable conditions 

6. Financing characteristics 

7. Export Seller's Credit Structure 

8. Export Seller's Credit Operation Procedure 

(ii) Export Seller's Credit Insurance 

1. Definition 

2. Underwriting Risks 

3. Basic Conditions of Coverage 

4. Claims Ratio 

5. Factors Affecting Premium Rates 

6. Insurance Processing 

(iii) Matters and Materials Involved in Seller's Credit for Exports

III. Financing under special risks 

(i) Financing under special insurance 

1. Definition 

2. Loan recipients 

3. Loan term 

4. Loan interest rate 

5. Applicable conditions 

6. Financing Characteristics

(ii) Short-term export insurance 

1. Definition 

2. Underwriting Risks 

3. Basic Conditions of Coverage 

4. Claims ratio 

5. Premium 

6. Insurance Processing 

7. Financing Structure under Special Risks 

8. Financing Procedures under Special Risks 

9. Special Risks Packaged Financing Services

I. Project Finance 

1. Definitions 

2. Scope of application 

3. Characteristics 

4. Main factors affecting project financeability 

5. Project structure (taking the most typical coal-fired power station as an example) 

6. Project financing process 

II. Overseas Investment Insurance 

1. Definition 

2. Product classification 

3. Basic acceptance conditions 

4. Premiums 

5. Product structure 

6. Policy Process 

7. Approval 

8. Medium and long-term export buyer's credit insurance in project financing 

III. Materials Required for Domestic Approval of Project Investment and Financing 

(i) Approval by Group Company 

(ii) Approval by the State-owned Assets Supervision and Administration Commission 

(iii) Filing or approval by NDRC 

(iv) Approval or filing by the Ministry of Commerce 

(v) Obtaining letters of intent from financial institutions 

(vi) Approval by the host government

(vii) Signing of important investment documents

(viii) Foreign exchange registration declaration

Table I: Policies of our Ministries on Overseas Investment and Financing 

Attachment I: Financing Project Information Sheet

Attachment II: Export Buyer's Credit Insurance Policy and Insurance Clauses

Attachment III: Export Buyer's Credit Insurance Commitment Letter

Attachment IV: Export Buyer's Loan Agreement

Attachment V: Export Seller's Credit Insurance Policy and Insurance Terms and Conditions

Attachment VI: Assignment Agreement of Accounts Receivable under Export Seller's Credit Insurance Policy

Attachment VII: Contract Specific Insurance Policy and Insurance Clause

Attachment VIII: Assignment Agreement of Accounts Receivable under Specific Insurance Policy

Attachment IX: Overseas Investment (Equity) Insurance Policy and Insurance Provisions

Attachment X: Overseas Investment (Debt) Insurance Policy and Insurance Provisions (Applicable to Financial Institutions)

Attachment XI: Template of declaration documents for foreign investment 

(i) Declaration documents of NDRC 

(ii) Declaration documents of the Ministry of Commerce 

(iii) Foreign exchange registration documents

Attachment XII: Template of Documents for Application for Establishment of Overseas Institutions

Figure 1: China ECIC's Claims and Recoveries over the Years  

Figure 2: Structure of External Preferential Loans                                                   

Figure 3: Structure of export buyer's credit financing

Figure 4. Government Concessional Loan & Preferential Buyer's Credit Process

Figure 5. Structure of export buyer's credit financing 

Figure 6: Flowchart of Banks' Export Buyer's Credit Processes

Figure 7. Claims Operation Timeline - Bankruptcy Application  

Claims Timeline - Application to Other Cause of Loss Events

Claims Timeline - Pre-Shipment or Pre-Completion 

Figure 10. Timeline after Full or Staged Completion of Performance

Figure 11. CITIC Insurance Export Buyer's Credit Insurance Approval Process 

Figure 12. Dual Process of Export Buyer Financing and Insurance 

Figure 13. Structure of Export Seller's Credit Financing

Figure 14: Financing structure under special insurance

Figure 15: Flowchart of Bank Special Insurance Packaged Financing Services

Figure 16. Types of Projects Suitable for Project Finance

Figure 17. Project Finance Structure                                                      

Figure 18: Project Finance Flow Chart                                                       

Figure 19. Contractual Relationship between Parties of Overseas Investment Equity Insurance

Figure 20. Contractual Relationship between Parties for Overseas Investment Debt Insurance (for Shareholders) 

Figure 21. Contractual Relationship between Parties for Overseas Investment Debt Insurance (Applicable to Financial Institutions)  

Figure 22: Contractual Relationship between All Parties of Overseas Investment Insurance

Figure 23. Processing Flow of Overseas Investment Insurance by CITIC Insurance

Figure 24: Approval Process of Overseas Investment Business of an International Engineering Company  

Figure 25: Approval Process of Foreign Investment Projects by NDRC 

Figure 26: NDRC foreign investment project filing process

Figure 27: Overseas Investment Shareholding Structure of a Company as an Investment Entity 

Figure 28: Shareholding Structure of Joint Overseas Investment by Multiple Shareholders 

Figure 29: Classification of Approval and Filing of Outbound Reinvestment Projects by NDRC 

Figure 30: Flowchart of the Ministry of Commerce's Approval or Filing Process for Outbound Investment Projects

Table 1. China's Crude Oil Imports from Angola, Saudi Arabia, and Iran

Table 2: Comparison of Government Concessional Loan & Preferential Buyer's Credit                                                       

Table 3 Risks covered by export buyer's credit insurance  

Table 4: Basic conditions for export buyer's credit insurance underwriting

Table 5: Important Conditions for Export Buyer's Credit Insurance Coverage for Different Credit Category Items

Table 6: Payout Ratio of Export Buyer's Credit Insurance

Table 7: Approval Process of Export Buyer's Credit Insurance of CITIC Insurance

Table 8: Risks of Export Seller's Credit Insurance Coverage

Table 9 Basic Conditions of Export Seller's Credit Insurance Coverage

Table 10 Short-term Export Special Insurance Coverage Risks

Table 11: Optional Insurance Products in Project Finance    

Table 12: Some Ways for Banks to Deal with Project Finance Risks  

Table 13: Classification of Overseas Investment Insurance Products

Table 14: Basic Conditions of Overseas Investment Insurance Coverage

Table 15: Overseas Investment Insurance Premium Related Matters

Table 16: Approval Process of Overseas Investment Insurance by CITIC Insurance

Table 17: Medium and Long-term Export Credit Insurance in Project Financing

Table 18: Comparison between Overseas Investment Insurance and Export Buyer's Credit Insurance

Table 19: Required Documents for Approval and Filing of Overseas Investment Projects by NDRC

Table 20: Comparison of Approval/Filing of Overseas Investment Projects by NDRC and MOFCOM

Example 1: "Economic Benefit Analysis of the X Highway Project"

Example 2: "Description of the Chinese component of the X Highway Project"

Example 3: "Table of Exports Driven by X Project in X Country"

Example 4: "Letter of Support from the Economic and Commercial Counsellor's Office on X Project in X Country"

Example 5: "Supporting Opinions of the Economic and Commercial Counsellor's Office to the Export-Import Bank on the X Project"

Example 6: "Reply Slip for the Record of Foreign Contracting Projects of the Ministry of Commerce"

Example 7: "Letter of Support from China Chamber of Commerce for Foreign Contracted Projects on Project X"

Example 8: "Agreement on Joint Venture of X Project in X Country"

Example 9: "Credit rating certificate issued by China Construction Bank for X Company"

Example 10: "Table of Two Excellent Performance of the Company"

Example 11: "Analysis of the Main Financial Data of X Company for 2017-2019"

Example 12: "Table of Co-operation Projects between Enterprises and Project Owners"

Sample 13: "Letter of Application for Foreign Preferential Loan for X Project"

Example 14: "Application Letter for Preferential Export Buyer's Credit for X Project"

Example 15: "Analysis and Comparison of Unit Prices of X Highway"

Example 16: "X Contractor's Commitment Letter"

Example17："X Design Institute Commitment Letter"

Example 18: "Letter of Commitment from X Construction Unit"

Example 19: "Letter of Interest in Loan for X Project from the Export-Import Bank of China"

Example 20: "Letter of Interest in Loan from Bank of China"

Example 21: "Letter of Interest from Industrial and Commercial Bank of China"

Example 22: "Letter of Interest from China Development Bank"

Example 23: "Export Buyer's Credit Loan Agreement"

Example 24: "Conditions for Entry into Force of the Export Buyer's Loan Agreement“

Example 25: "Conditions for the First Release of Export Buyer's Loan by Banks"

Example 26: "CITIC Insurance Medium and Long-term Export Credit Insurance Enquiry Policy"

Example 27: "Letter of Interest for Medium- and Long-term Export Credit Insurance of CITIC Insurance"

Example 28: "Letter of Intent for Medium- and Long-term Export Buyer's Credit Insurance of CITIC Insurance"

Example 29: "Notice of Approval of CITIC Insurance Project Export Buyer's Credit Insurance"

Example 30: "CITIC Insurance Export Buyer's Credit Policy"

Example 31: "Letter of Application for Export Buyer's Credit for Project X of South Sudan"

Example 32: "Application Document for Letter of Support from the Economic and Commercial Counsellor's Office of Project X"

Example 33: "Letter of Support from the Economic and Commercial Counsellor's Office of X Project" 

Example34："Report on the Situation of X Hydroelectric Power Station Project"

Example 35: "Deferred Payment Agreement in Export Seller's Credit Financing"

Example 36: "Owner's Guarantee Contract in Export Seller's Credit Facility"

Example 37: "Letter of Intent for CITIC Insurance Coverage of Export Seller's Credit Insurance" 

Example 38: "CITIC Insurance Policy for Export Seller's Credit Insurance

Example 39: "Bank Receivables Buyout Agreement"

Example 40: "Authorisation for Assignment of Contractor's Claims"

Example 41: "Confirmation of the Return of CITIC Insurance Claims Assignment"

Example 42: "Overseas Investment Project Filing Form"

Example 43: "Notification of Filing of X Overseas Investment Project of NDRC"