In order to further improve the trade credit statistics survey and clarify the explanation of relevant concepts and indicators, the State Administration of Foreign Exchange revised and formed the “Trade Credit Statistics Survey System”. In order to help enterprises understand the contents of the amendment and correctly report the survey data, the Beijing Foreign Exchange Administration held the “2019 Beijing Regional Trade Credit Training and Work Conference” on April 24, 2019. As a sample company, our company was invited to participate in this meeting.

     The main contents of this revision include three aspects: one is to rename 《the Trade Credit Investigation System 》to 《the Trade Credit Statistics Survey System》; the other is to change the principle of determining the subject of the declaration to “Who is going to make payment by trade, who declares”; the third is to further clarify the concepts of “trade credit”, “offshore resale and sale”, “main exporting countries and regions”, and adjust the “end balance of accounts receivable/advance receipts at the end of the period” and “end balance of post-accounts payable/prepayments” and other indicators explanation.

     The conference was launched with the revision as the background. The focus was on the operation of the trade credit investigation system, the meaning of the indicators and the data extraction rules, and combined with the typical problems found in the previous verification.The statistics of foreign exchange data is an effective way for the state to master import and export. As a sample enterprise, our company will do a more accurate investigation of the data in the future, and assume the responsibility and obligations of the enterprise.