§ Sir Nicholas ScottTo ask the President of the Board of Trade if he will make a statement on credits extended from the United Kingdom to China; and to what extent payments on these are up to date. [22208]
§ Mr. OppenheimSince the privatisation of the Export Credits Guarantee Department's short-term credit arm in 1991, medium and long-term export credit facilities have continued to be available to support UK capital goods and project exports to China.
China was ECGD's top new business market in 1994–95 and is currently the largest market in terms of exposure which, as at 31 December 1995, stood at £2,240 million.
Occasional administrative delay in payment have been reported, but no claims have been paid on business with China.
473W