On October 16, Xu Xinwei, Member of the Party Committee and Deputy General Manager of China Export & Credit Insurance Corporation (SINOSURE), and Zhang Juan, Party Secretary and General Manager of SINOSURE’s Ningbo Branch, led a delegation on a visit to MU Group. Tom Tang, President of MU Group, and Eric Zhuang, Vice President of MU Group, welcomed the delegation.
Tom Tang expressed his gratitude for SINOSURE’s long-standing support and introduced the Group’s strategic plans, business model, and global market presence. In response to changes in global market risks, MU Group continues to improve its internal risk management mechanisms through risk provisioning, regular risk review meetings, and the publication of relevant risk warning cases to strengthen risk control.
Having weathered multiple crises, including the 2008 financial crisis, the Russia-Ukraine conflict, and the Haiti earthquake, the Group has kept its overall losses under control, including amid challenges this year. These have included a Russian e-commerce customer’s warehouse being bombed by drones, an earthquake in Colombia, and financial difficulties faced by customers in the Middle East. The bombing of a warehouse represents a new type of foreign trade risk arising from warfare, involving the use of emerging weapons.
Today, automation is becoming increasingly widespread, production capacity is expanding rapidly, and the life cycles of best-selling products are very short. Despite oversupply, insufficient demand, and intense price competition across the industry, MU Group remains firmly optimistic about small commodities trade and the export of Chinese goods.
Zhang Juan noted that SINOSURE and MU Group have maintained frequent communication and close cooperation over the years. With risk management mechanisms being effectively implemented, the Group’s approach to risk management has gradually shifted from a broad-based model to more refined management. Its team has continued to expand, and risk management has improved significantly in recent years. SINOSURE will continue to support MU Group’s business and provide maximum protection for export enterprises amid challenging conditions, helping them achieve high-quality development.
Xu Xinwei stated that the visit focused on labor-intensive foreign trade enterprises, with the aim of gaining a clear understanding of their actual business operations and risk management practices and gathering first-hand information to inform the development of future export-related policies. At present, resources are increasingly being directed toward high-growth sectors such as AI and new energy, making the survival pressures and risk challenges facing traditional foreign trade businesses particularly worthy of attention.
SINOSURE’s underwriting business continues to expand. Its role extends beyond providing insurance products: it also serves as a risk protection tool for the foreign trade sector. On the one hand, it supports enterprises in expanding their business through credit sales and deferred payment arrangements. On the other hand, it requires close cooperation with enterprises to jointly manage risks.
External risks are also evolving. In addition to persistent cases of overseas fraud, new types of risks have emerged, including attacks on data centers and the bombing of warehouses. Enterprises therefore need to continue strengthening their anti-fraud measures and data security protection.