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Chinese Exporting Companies Facing a Wave of Refused Shipments

The International Herald Leader, under Xinhua News, reported that a large number of Chinese exporting companies are dealing with more and more refused shipments. With the international financial crisis, various excuses are being used by foreign importers to reject shipped goods. Credit risks are significantly increasing. For example, in the first 2 months of 2009, Chinese private exporters alone lost $100 million due to refused shipments – an increase of 87.5% compared to last year.

 Source: International Herald Leader, May 8, 2009.