Dec. 23, 2009 (China Knowledge) - China's short-term export credit doubled year on year to US$86.23 billion in the period from Jan.1 to Dec. 14, according to China Export and Credit Insurance Corp.

Export credit insurance amounted to US$110.03 billion, with indemnity of US$440 million by Dec. 18. Short-term export credit was US$86.23 billion, up 121.5% year on year, while the medium- and long-term export credit surged 155.2% to US$6.61 billion.

Reportedly, export credit covered 17.9% of all exports, 2.8 times what it covered last year. Support from export credit boosted enterprises’ confidence.