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2021.10.18
国家贸易风险及经济研究

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2021.03.23
国家贸易风险及经济研究

欧洲企业破产悖论:奇迹与幻象

尽管新冠疫情的实际影响仍不明确,2020 年欧洲所有主要经济体的企业破产数量却均呈现下降趋势。科法斯集团研究发现,企业财务健康状况的预期恶化与实际企业破产数量之间的差距表明,大量的“隐性破产”被推迟,而未能得到阻止。

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2021.03.17
国家贸易风险及经济研究

油价波动影响中东和非洲石油生产国经济多样化

新冠肺炎疫情对全球 GDP 增长和全球贸易造成负面影响,导致 2020 年春油价大幅下跌。此次油价虽为暂时性下跌,但对中东和非洲石油出口国都造成了不同程度的影响(视国家产出对石油的依赖程度,以及财政实力和国际石油储备情况而异)。尽管科法斯预计 2021 年油价将达到平均每桶 60 美元,但石油生产国仍将面临油价波动的挑战。

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2021.02.19
国家贸易风险及经济研究

科法斯 2020 年第四季度贸易风险报告 - 不均衡的全球经济复苏

科法斯发布最新一季贸易风险报告及 2021 年《国家与行业风险手册》,指出各个国家、行业及收入阶层将经历不均衡复苏。

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2021.02.16
国家贸易风险及经济研究

Poland: Payment delays between companies shorten during the pandemic

The year 2020 was marked by the COVID-19 pandemic. In order to mitigate the impact of this difficult economic situation on Polish companies, various liquidity-supporting aid measures were introduced, such as tax and contribution exemptions and deferrals. As a result, despite the extensive economic crisis, payment delays between companies have shortened – however, with these aid measures are to be phased out in 2021, two thirds of companies expect their business activities to deteriorate this year.

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2021.02.14
集团讯息

COFACE SA: Moody's raises the outlook for Coface to “stable”

The rating agency Moody’s, on 10th February 2021, has confirmed the financial strength rating (Insurance Financial Strength – IFS) for Coface at A2. The agency has also raised the outlook for Coface, which is now stable.

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2021.02.10
集团讯息

Coface FY-2020 results: Net income at €82.9m and 100% pay-out ratio

Coface releases its FY 2020 Financial Results.

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2021.02.10
集团讯息

Governance evolution – Bernardo Sanchez Incera appointed Chairman of the Board of Directors

Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. in Coface's capital, COFACE SA's Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.

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2021.01.14
集团讯息, 国家贸易风险及经济研究

Attend our 25th Country Risk Conference 8-10 february

This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.

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2020.12.10
集团讯息

科法斯宣布新任亚太区经济学家

科法斯今天宣布委任 欧韦良(Bernard Aw) 为亚太区经济学家,于 2020 年 12 月 1 日生效。

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2020.12.02
集团讯息

科法斯签署 L’autre cercle 倡导的《LGBT+ 宪章》,承诺提高组织内部对 LGBT+ 群体的包容性

科法斯签署 L 'autre cercle 倡导的《LGBT+ 宪章》,该协会致力于提高工作场所对 LGBT+ 群体的包容性。

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2020.10.26
集团讯息

9M-2020 Financial Results: Strong balance sheet and positive operational KPIs

Coface releases its 9M-2020 Financial Results : A strong balance sheet and positive operational KPIs allow to launch share buyback programme

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2020.10.12
国家贸易风险及经济研究

新冠疫情加剧政治风险

《科法斯 2020年第三季度贸易风险报告》发布的最新科法斯政治风险指数凸显双重趋势:一方面,全球层面的冲突风险水平有所降低,另一方面,政治和社会脆弱风险在个别国家有所上升。

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2020.09.17
国家贸易风险及经济研究

German companies have switched to “crisis-mode” and offer less payment terms

German companies want to cash in as early as possible, according to the fourth edition of Coface’s survey on corporate payment experience in Germany, conducted in July and early-August 2020, with 753 participating companies located in Germany.

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2020.07.29
集团讯息

Coface reports a positive net income of €11.3m for the second quarter 2020 and continues to implement its strategic plan

Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter:
Client retention and new business achieve record levels, with a positive net production of €33m.
First effects of re-pricing are now visible (+0.2%).
Revenues from services progress by 7%, including information services up by 13%.
Client activities continue to slowdown – a trend expected to continue over the following quarters.

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2020.07.24
国家贸易风险及经济研究

后疫情时代的生产设施迁移:对中东欧国家是否是一种机遇?

大多数中东欧国家在 2004 年加入欧盟 (EU),其对外贸易和供应链参与程度近年来均有提高。

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2020.07.21
国家贸易风险及经济研究

全球交通运输:疫情过后将面临怎样的未来?

新冠肺炎(COVID-19)疫情引发了流动危机,这主要是由于社会安全距离的要求以及避免密闭空间以限制病毒传播。这对全球交通运输行业造成了灾难性的影响,其中航空旅客运输是受 影响最大。

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2020.07.15
国家贸易风险及经济研究

美国:企业破产“双重天”

疫情肆虐全美,经济深受重创,科法斯的基准情景预测2020 年美国经济萎缩5.6%,2021 年将回升3.3%。然而,这一预测恐将发生变化,因为近期已有几个州的疫情卷土重来,令4 月份全面封锁后刚刚重启的经济再次熄火,甚至出现倒退。

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2020.07.13
国家贸易风险及经济研究

2020 年亚太企业付款调查:新冠疫情或将浇灭去年以来的经济复苏势头

2019 年中美之间爆发贸易战之后,随著供应链转移和联准会注入额外的流动性,科法斯发现亚洲(中国以外)经济显露出复苏态势。

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2020.07.06
集团讯息

Coface finalises the acquisition of GIEK Kredittforsikring AS

Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company that manages a short-term export credit insurance portfolio.

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2020.06.29
国家贸易风险及经济研究

西班牙和意大利的企业是否已做好应对新冠疫情冲击的准备?

2020 年第二季度有可能迎来前所未有的挑战,而我们现在有充分的理由认为,经济复苏之路也将是漫长而艰难的。尽管当前已实行延期收税、流动性担保等缓解措施,许多企业仍然难以摆脱困境。

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2020.06.19
集团讯息

Coface announces new appointment of Country Manager of Coface Japan

Coface announces today the appointment of Shinkichi Hayashi as Japan Country Manager effective 1 June 2020. Shinkichi will replace Tetsuya Komatsu, who has decided to leave Coface for personal reasons. We would like to sincerely thank Tetsuya for his contributions.

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2020.06.18
国家贸易风险及经济研究

欧洲企业破产:临时修改法律程序以延迟破产申请期限

许多欧洲国家临时修改了有关违约程序的法律框架以应对此次危机,推迟了欧洲企业的破产期限

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2020.06.10
国家贸易风险及经济研究

科法斯 2020 年第二季度贸易风险报告 -- 经历重大冲击之后的经济复苏:差异化发展

科法斯预测 2020 年的经济衰退程度(全球 GDP 下降 4.4%)会比 2009 年更严重。在假定不出现第二波冠状病毒疫情的前提下,2021 年有望实现经济复苏(增长 5.1%),但与 2019 年相比,美国、欧元区、日本和英国的 GDP 仍将下滑 2-5 个百分点。

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2020.06.02
国家贸易风险及经济研究

2020中国企业付款调查:新冠肺炎疫情加剧付款逾期

新冠肺炎疫情严重影响经济活动,科法斯2020年中国企业付款调查显示,2019年企业付款行为发生恶化,66%受访企业表示遭遇了逾期付款。2019年,平均付款期限信用期限稳定在86天。可以預計,那些因封锁措施遭受严重冲击的行业,为了维持生存不得不延期付款,有的企业甚至因而倒閉 (...)

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2020.05.28
国家贸易风险及经济研究

世界贸易形势:尽管国际贸易受到意外干扰,全球价值链的前景依然光明

2020 年初,受到全球经济衰退和不确定性激增的影响,国际贸易一度接近中断。

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2020.05.04
国家贸易风险及经济研究

COVID-19 swings the spotlight back onto emerging countries’ debt

While the focus has mainly been on China, Europe and the USA so far, the consequences of the Coronavirus pandemic are likely to be even more severe in emerging countries.

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2020.04.23
集团讯息

First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis

Xavier Durand, Coface CEO, commented: “The coronavirus crisis presents an unprecedented shock for our economies and for the credit insurance industry. First and foremost, I am very proud of our teams’ successful efforts to continue supporting our customers despite the containment measures (...)"

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2020.04.16
国家贸易风险及经济研究

疫情过后,中国经济能否独善其身?

鉴于新冠肺炎疫情的大面积爆发以及对全球经济的影响,中国恐怕无法实现2020年增长目标。科法斯预计中国2020年经济增速将降至4.0%。

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2020.04.07
国家贸易风险及经济研究

科法斯 2020 年第一季度贸易风险报告:新冠肺炎疫情致全球破产企业激增

新冠肺炎疫情最初在中国爆发,当时只影响个別价值链,但如今已经扩展至全球大流行。疫情既打击行业供给,又打击市场需求,现已殃及全球大多数行业。

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2020.03.31
集团讯息

Fitch places Coface on Rating Watch Negative

The rating agency Fitch has, on 31 March 2020 placed Coface on Rating Watch Negative. This includes Coface’s Insurer Financial Strength (IFS) rating.

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2020.03.27
集团讯息

Review of the credit insurance sector by Moody's

The rating agency Moody's confirmed Coface’s Insurance Financial Strength (IFS) A2 rating on 27 March 2020. The outlook for this rating has been changed to negative.

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2020.03.06
国家贸易风险及经济研究

Poland Payment Survey: reduced payment delays, but a challenging outlook

Despite the economic slowdown, Coface’s latest survey on business payments in Poland shows that payment delays have systematically shortened since 2017 – but the impact of the coronavirus outbreak on the Polish economy remains to be seen.

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2020.02.25
集团讯息

Coface capitalizes on its strategic successes and launches Build to Lead, its new 2023 strategic plan

Build to Lead will broaden and deepen the business and cultural transformation initiated in Fit to Win. In particular the new plan will: Continue to strengthen risk management and underwriting discipline; Improve service, and commercial and operational efficiency; Invest in select growth initiatives in trade credit insurance as well as in specialty lines; Maintain balance sheet strength.

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2020.02.25
集团讯息

COFACE SA: Shareholding evolution

COFACE SA (“COFACE”) acknowledges the announcement made today by Natixis of its sale of 29.5% of the share capital of COFACE to Arch Capital Group Ltd (“Arch”) as well as Arch’s affirmed support of COFACE’s current management and of its new 2023 strategic plan Build to Lead.

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2020.02.24
集团讯息

AM Best assigns A (Excellent) rating to Compagnie française d'assurance pour le commerce extérieur and to Coface Re SA

Rating agency AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) to Compagnie française d'assurance pour le commerce extérieur (la Compagnie) and to Coface Re. Both ratings have a stable outlook. The agency has also affirmed the FSR of Coface North America Insurance Company (CNAIC) to A (Excellent). The outlook remains stable.

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2020.02.06
国家贸易风险及经济研究

Political and environmental risks are the main threats facing businesses in 2020

As Coface launches the 2020 edition of its Country & Sector Risks Handbook, Chief Economist Julien Marcilly today presents the main threats for the global economy in 2020 at the Coface Country Risk Conference in Paris. The US-China trade agreement will not be enough to rekindle international trade.

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2020.02.05
集团讯息

FY-2019 results: Record net income up 20% at €146.7m and proposed dividend per share of €1.0

We have completed our Fit to Win plan with record results, despite a riskier economic environment. Our net income is up by 20%, to €147m. The tangible return on equity comes in at 9.1%, excluding non-recurring items. Record retention and a pick-up in new business boosted growth to 5.9%. Finally, in terms of capital, the French regulator authorised our usage of our internal model to calculate the solvency requirement. Our solvency ratio stands at 190%, up 21 points, which allows us to propose a payment of a dividend of €1.0 per share to the Shareholders Annual General Assembly.

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2020.02.05
集团讯息

COFACE SA: Agreement to acquire GIEK Kredittforsikring

COFACE SA announces that it has signed an agreement with the Norwegian ministry of Trade, Industry and Fisheries regarding the acquisition of GIEK Kredittforsikring.

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2019.12.19
国家贸易风险及经济研究

法国破产企业数量相对较少,但规模更大

虽然面临破产的企业数量自年初以来有所减少,但从财务状况和受影响的职位数量方面来看,其成本有所增加。艰难度过以“黄背心”运动的影响为标志的第一季度后,法国破产企业的数量自年初再次下降(连续第四年)。然而,科法斯预计2020年法国破产企业数量会略有反弹(+0.9%),主要归因于预期建筑业发展会减缓,而这很大程度上是由2019年市政选举前所推动的公共工程延迟。

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2019.12.18
国家贸易风险及经济研究

全球汽车行业监管加强:前路艰难

全球汽车行业因监管越来越严格而备受打击,尤其是因环保限制,正面临经济衰退,因此不得不做出改变。

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2019.11.19
产品信息

Broker Portal, Coface’s new digital interface for its brokers

Coface launches its new portal for brokers, offering a new experience to its partners in the development of their business around the world.

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2019.10.29
国家贸易风险及经济研究

2019 survey on company payments in Germany: turn of the tide

85% of companies report payment delays in 2019. This is an increase from 2017 by 7 percentage points. According to Coface's 2019 Germany payment survey of 442 companies in, the country is in a phase of change. The pressure on companies from international competition is increasing.

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2019.10.24
国家贸易风险及经济研究

科法斯推出全新经济预测工具 CRAFT ,用于估算欧元区增长率

是陷入衰退还是小幅减速?CRAFT可提供欧元区主要经济体减速状况的关键指标。

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2019.10.23
国家贸易风险及经济研究

农副食品行业展望:贸易保护主义甚嚣尘上的全球经济氛围中,未来何去何从?

全球农副食品行业身处当前中美贸易冲突漩涡的中心,将受到冲突引发的骨牌效应,尤其是诸如大豆等关键农副大宗商品价格下行趋势所带来的冲击。科法斯对这一市场的未来走势进行深入的分析。

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2019.10.23
集团讯息

Coface announces new appointment of Country Manager of Coface Indonesia and Philippines

Coface announces today the appointment of Chrisna Sudarma as Indonesia & Philippines Country Manager effective 2 October 2019. Based in Jakarta, Chrisna will report directly to Bhupesh Gupta, CEO of Coface for Asia Pacific

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2019.10.21
国家贸易风险及经济研究

科法斯第三季度贸易风险评估:尽管央行发力,全球经济走势仍普遍下行

今年夏天,全球多个政治领域的不确定性带来的叠加效应令企业经营信心受挫,以此观之,2020年很可能是经济衰退的一年。

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2019.09.26
国家贸易风险及经济研究

Netherlands: What is the secret of Dutch trade?

Rising protectionism in China and the United States, Brexit, contracting world trade... despite all the clouds on the horizon, the Dutch economy remains surprisingly bright.

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2019.09.12
国家贸易风险及经济研究

Insolvencies in Central and Eastern Europe: despite an increasingly difficult global economic context, the situation remains positive

The Central and Eastern European region has experienced unparalleled growth in the European Union. However, a slowdown is expected in the coming years.

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2019.07.18
集团讯息

科法斯宣布任命新的中国区总经理以及全球解决方案中国区主管

今天,科法斯宣布Benoit Ganzmann担任中国区总经理以及全球解决方案中国区主管,该任命自7月8日起正式生效。全球解决方案是科法斯的最新举措,中国区将负责为中国企业及其分公司在全球范围内提供及时的跟进和服务。

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2019.07.17
国家贸易风险及经济研究

科法斯最新政治风险报告:非洲大陆冲突加剧

最近在非洲所发生的一系列冲突、恐怖主义以及社会政治紧张局势,短期内未见缓和迹象,非洲将继续在脆弱与不安定的状况中煎熬。

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2019.07.15
国家贸易风险及经济研究

科法斯第二季度贸易风险报告-贸易紧张局势再次成全球经济焦点

中美贸易战、陷入挣扎的汽车业、新兴经济体增速趋缓…2019年第二季度的局势凸显出全球经济放缓

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2019.07.10
国家贸易风险及经济研究

亚洲企业付款调查2019:贸易战的愁云之下,企业付款趋势日益恶化

科法斯2019年亚洲企业付款调查涵盖了该地区内9个经济体(澳大利亚、中国大陆、中国香港、印度、日本、马来西亚、新加坡、泰国及中国台湾)超过3000家企业。63%的受访企业称其在2018年遭遇过逾期付款。2018年,平均逾期付款天数为88天,相比2017年的84天有所延长。遭遇逾期付款天数最长的是中国大陆、马来西亚和新加坡;若按行业划分,则能源、建筑和ICT行业位居前列。

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2019.06.24
国家贸易风险及经济研究

Natural gas: an oscillation between boom and gloom

The natural gas market is booming and will increase in the medium term, but many factors point to a less promising future.

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2019.05.30
国家贸易风险及经济研究

Corporate insolvencies in France: microenterprises in the trough of the wave

While the yellow vests movement did have a strong impact on corporate insolvencies at the beginning of the year, the decline in mobilization and the resilience of economic growth had a positive impact on the health of French companies in March and April.

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2019.05.21
国家贸易风险及经济研究

从后发模仿到先发创造:全面衡量中国的5G雄心

中国面向5G调整其发展策略,已经取得了部分成功。但是,在进口尤其是高端产品方面,中国仍依赖海外进口,导致5G技术发展容易受制于外国保护主义措施。此外,中国公司在海外部署的5G网络,经常被所在国认定为存在网络风险。美国目前对中国企业华为采取禁令,并迫使其盟国进行同样操作,这将限制中国5G技术未来的发展 (...)

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2019.05.15
国家贸易风险及经济研究

In a global economic slowdown, luxury continues to outperform but faces new challenges

Counterfeiting, e-commerce, Chinese consumers importance, even if it is generally relatively spared by recessions, the luxury market must adapt to a profoundly changing economy if it does not want to lose its exceptional status.

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2019.04.24
国家贸易风险及经济研究

中亚、中国和俄罗斯:理性的三方合作

中亚位于新丝绸之路(一带一路)的两大分支,是中国与欧洲的贸易伙伴和通道;俄罗斯通过侨汇、建设军事基地及文化渗透对这一地区长期存在的影响力也值得关注。当前,中国和俄罗斯因共同对抗西方意识形态及打击极端伊斯兰教派蔓延,重新走到了一起。不过,由于中国是该地区走廊开发计划最大的资金供应方,权力的平衡可能很快有所改变。

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2019.04.24
国家贸易风险及经济研究

产业周期的结束对欧洲及北美化工企业造成冲击

全球经济增速放缓的迹象日益显著 - 2019年,2/3国家的企业破产数将会增长(西欧为+3%)- 汽车产业的需求减少影响欧洲及北美化工行业 - 风险评级改善的状况主要集中在中东,包括对沙特的评级调升(B)

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2019.04.24
集团讯息

Coface delivers a strong first quarter 2019

Net income at €36.4m and RoATE at 9.0%, supported by full impact of Fit to Win plan, portfolio growth and sound underwriting management

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2019.04.09
国家贸易风险及经济研究

“莫迪经济学”实行5年后,印度经济仍然脆弱

纳兰德拉·莫迪在2014年竞选印度总理时,承诺将提升印度工业的竞争力,以促进经济增长。印度即将在4月11日和5月19日举行新一届大选,而莫迪也将再次上阵争取连任 (...)

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2019.04.04
集团讯息

科法斯在希腊启动信用保险业务

科法斯在风险预防和支付保护方面的专业知识和人才将让希腊本地企业获益。

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2019.04.03
国家贸易风险及经济研究

Mexico and Brazil taking opposite directions in terms of energy policies

2019 will be marked by high volatility in the global oil market - Brent crude oil price to average USD 65 in 2019, according to Coface estimates - In Mexico, the financial stress already faced by Pemex might not be contained - Brazil oil policy is expected to have positive knock-on effect in the medium term

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2019.04.03
集团讯息

Coface announces the publication of its 2018 Registration Document

The 2018 Registration Document includes the following information: The 2018 Annual financial report; The Report on corporate governance (attached to the management report); The Statutory Auditors’ reports and the news release concerning their fees; The description of the share buyback program; The draft resolutions submitted to the vote of the Combined Shareholders’ Meeting of May 16th 2019; The Non-Financial Performance Statement.

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2019.03.20
集团讯息

Coface announces new appointments in Australia and Singapore

Coface announces today the following changes in the country leadership in Australia and Singapore.

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2019.03.18
国家贸易风险及经济研究

2019中国企业付款调查:随着经济增长趋缓,企业还款逾期趋长

2018年对中国经济是充满挑战的一年。经济增速降至6.6%,且预期会在2019年进一步减速(科法斯预测为6.2%)。因此,在1500家受访中国企业中,有59%认为经济在2019年难有起色– 这是自2003年开展调查以来的最悲观预期 (...)

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2019.02.28
国家贸易风险及经济研究

Turkish economy: domestic demand still waning but exports fuelled by the lira’s depreciation

Stagflation becoming a reality, exports are a key-source of revenues for economy, especially in the automotive sector. Exporters are flexible; government support is vital for exporters to gain new market shares

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2019.02.20
国家贸易风险及经济研究

2019年企业将面临的两大危机:经济低迷和政治风险

在2018年底,诸如政治风险提升、大宗商品价格大幅波动以及供应限制等一系列困境开始拖累全球经济增长势头,并给2019年的经济前景蒙上了一层阴影(2017和2018年增长率3.2%,2019年预计3%)。

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2019.02.11
集团讯息

FY-2018 results: net income up 47% at €122.3M and pay-out of 100% of net income

Our good 2018 results show the relevance of our Fit to Win strategic plan in a now more volatile economic environment. Our net income of €122 million is up 47% and corresponds to a return on equity close to our average through the cycle objective excluding further capital optimisation actions

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2018.12.25
国家贸易风险及经济研究

亚洲地区流动性趋紧:2019年未必一片黯淡

在2018年全球流动性收紧的趋势下,亚洲地区也感受到一定压力。科法斯指数(衡量资金外流相对脆弱性)显示,亚洲地区内的差异正在加大 (...)

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2018.12.06
国家贸易风险及经济研究

French companies in 2019: Rise in insolvencies but higher margins will allow cushioning the impact of slowing global trade

In the third quarter of 2018, after two years of improvement, French companies experienced a reversal of the trend with the number of insolvencies increasing by +2.3% (...)

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2018.11.22
国家贸易风险及经济研究

中国中小企业:货币宽松并不足以缓解信用风险压力

当谈及中国经济的风险,多数讨论往往聚焦于大型国有企业(SOEs)或大型私企集团 (...)

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2018.11.12
国家贸易风险及经济研究

风电行业:在贸易战和流动性短缺的影响下,生产成本将不断升高

风电与其他可再生能源自2000年代中期迄今实现了强劲增长 (...)

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2018.10.25
国家贸易风险及经济研究

Halfway through its trade diversification process, the United Arab Emirates is yet to be integrated into international value chains

In the last three decades, the UAE has developed into the second largest and most diversified economy in GCC area through the implementation of specific policy frameworks regarding regulations (...)

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2018.10.24
集团讯息

Coface results at 30 September 2018

Coface reports a solid performance confirming the relevance of its strategy and launches additional €15m share buyback programme

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2018.10.18
国家贸易风险及经济研究

2018年第三季度科法斯全球国家及行业风险概览:部分新兴经济体变得更为脆弱

油价的走高和新兴市场遭遇的持续资本外流,标志着2018年第三季度的趋势 (...)

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2018.10.18
国家贸易风险及经济研究

美国的贸易保护主义:已对目标国家的贸易伙伴产生显著的冲击效应

不断抬头的贸易保护主义对众多经济体产生影响,不论是发达还是新兴经济体 (...)

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2018.10.10
集团讯息

Coface and Tradeshift announce strategic partnership

Global credit insurer to make risk indicators available to a network of 1.5 million businesses in 190 countries.

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2018.08.29
集团讯息

Fitch affirms Coface AA- rating, with an outlook ‘stable’

Fitch Ratings affirmed, on August 29th 2018, Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.

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2018.08.20
国家贸易风险及经济研究

Greece's exit from the international bailout programme: Greek companies are experiencing a revival - more competitive and less indebted

Multiple signs of an economic recovery in Greece. Reforms have helped to clean up public accounts, restore Greece's credibility and strengthen confidence.

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2018.07.25
集团讯息

In the first half of 2018, Coface continues to record a solid performance in a gradually normalising risk environment

Net profit of €62.8m and RoATE1 at 7.8%

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2018.06.29
国家贸易风险及经济研究

France’s loss of market share in Africa benefits several European countries, China and India

While France’s trade balance has remained in surplus, its market share of exports to Africa halved from 11% in 2000, to 5.5% in 2017.

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2018.06.28
集团讯息

Coface awarded “Best Credit Insurance brand in France 2018”

Coface France has been recognised as industry leader with the Best Credit Insurance brand France 2018 Award by Global Brands Magazine (...)

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2018.06.27
国家贸易风险及经济研究

科法斯全球国家及行业风险:2018年第二季度风险迹象有所抬头

本季度主要的风险评级调整

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2018.06.27
集团讯息

Coface sells its stake in Cofacrédit

Coface announces today that it has ceded to Factofrance (Groupe Crédit Mutuel – CM11) its 36% stake in the capital of Cofacrédit, a factoring company previously jointly owned by the two groups.

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2018.06.06
国家贸易风险及经济研究

全球金属行业:2018年价格继续提升,不过2019年可能略有下滑

与经济增长的高度同步性,加上技术转移的作用,都令金属用量攀升,造成供应短缺,受此影响,自2016年中以来,金属市场一片向好(...)

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2018.05.28
国家贸易风险及经济研究

Election season in Latin America: Growing political risks undermine economic activity

The Coface Political Risk Index takes into consideration various risk aspects: (...)

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2018.05.14
国家贸易风险及经济研究

Western Balkans’ accession to EU membership likely to be completed - supported by the region’s strategic importance

The European Union - Western Balkans Summit will take place in Sofia, Bulgaria, on the 17th of May 2018. This meeting aims to reaffirm the EU’s commitment towards the Western Balkans gaining EU membership. Coface’s economists see the EU accession as likely to happen, particularly as it would counterbalance Russian and Chinese presence in the region.

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2018.05.04
国家贸易风险及经济研究

非洲:外汇储备逐步减少 再次崩盘的风险上升

受到原材料价格下跌的影响,大多数非洲国家货币在2013到2016年间贬值超过20%

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2018.04.24
集团讯息

Coface results for the first quarter 2018:

Net income of €35.5m and RoATE(1) at 8.8%; Fit to Win execution drives profitability in a supportive economic environment

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2018.04.17
集团讯息

2018年第一季度科法斯全球国家及行业风险概览

欧美经济增长已达到峰值,企业着手应对供给侧限制和保护主义风险

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2018.04.10
国家贸易风险及经济研究

New Mediterranean trade routes will be through the South and East of the region

In the Mediterranean, the recent rise in protectionism is starting to transform the vast network of free trade agreements and reshape intra-Mediterranean trade routes. Two new trends are emerging.

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2018.03.29
国家贸易风险及经济研究

Central and Eastern Europe: Political risks on the rise but no impact yet on local businesses

With the wave of ongoing elections in countries such as Hungary, Czech Republic, Poland and Slovenia, Central and Eastern Europe is undergoing a major period of change against the background of economic growth that is still strong (...)

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2018.03.15
国家贸易风险及经济研究

NAFTA renegotiations - could Mexico’s “high-risk” automotive industry deteriorate into a crisis?

Mexico’s automotive industry plays an important role in its economy (...)

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2018.03.15
国家贸易风险及经济研究

Insolvent or ‘zombies’, distressed companies represent nearly 6% of the total in France

The beginning of the year marked a clear improvement in key business insolvency indicators (...)

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2018.03.14
国家贸易风险及经济研究

中日两国亚太区一展经济雄心,力爭高下

根据科法斯最新一期的经济聚焦,中国和日本在亚太地区的贸易和投资领域的竞争日益加剧 (...)

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2018.03.08
集团讯息

Women to Win, when Coface conjugates with the feminine

The International Women's Day is an opportunity to review the numerous projects carried out within the framework of the Women to Win dedicated to women's leadership, networking and knowledge and experience- sharing (...)

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2018.02.12
集团讯息

Full-year results 2017: Coface doubles net income to €83.2m, and activates the capital optimisation lever provided for in its Fit to Win plan

Turnover: €1 354.9m, up 0.3% at constant scope and exchange rates. Net loss ratio 51.4%, improved by 14.1 pts; annual net combined ratio at 86.6%.

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2018.02.01
国家贸易风险及经济研究

2018国别风险研讨会 -- 2018:维持好转的上升势头,但企业面临过热风险

科法斯年度国别风险和行业风险研讨会期间,本公司将与众多参会企业分享科法斯对2018年全球经济走向的主要观点和看法(...)

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2017.12.22
国家贸易风险及经济研究

Turkey records dynamic growth but is increasingly vulnerable to external factors

Turkey’s economy recorded substantial growth during the first three quarters of 2017, up by 7.4% compared to a year earlier. This was achieved despite the series of shocks which occurred in the country in 2016 (...)

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2017.12.20
国家贸易风险及经济研究

尽管法国有机食品行业充满活力,但可能为了扩大规模被迫放弃初衷

該行業的強勁成長力道反映出家庭對有機食品的偏愛不斷增長,其規模預計在2017年可超過80億歐元

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2017.11.28
国家贸易风险及经济研究

“硬”脱欧将严重损害英国汽车业的创新能力和竞争力

2016年中,汽车产量的激增颇令人意外,1月到8月,实现销量102万辆,与2015年同期相比上升了8.5%,而在2017年,汽车产量下滑了接近2% (...)

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2017.11.10
国家贸易风险及经济研究

中国在南撒哈拉非洲的雄心:仍需努力调整双边关系

现今距离首届中非合作论坛已近20年,但中非关系仍不平衡。在过去10年间,中非间双边贸易在出口的驱动下大幅攀升(2016年总额1230亿美元),不过出口自2014年开始回落,目前已从最高点回落51%。该地区对中国现在已处于贸易赤字状态。

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2017.10.25
集团讯息

Coface 9M-2017 Results: Net income at €55.0m driven by loss ratio improvement, in line with new guidance

We now see the full impact of the measures taken in the previous quarters within the Fit to Win strategic plan to drive down the loss ratio, in what is a still favourable economic environment. The net profit for the quarter, at €35m, shows significant progress compared to previous quarters.

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2017.10.10
国家贸易风险及经济研究

全球融资市场概览:债券市场可发挥其“备胎”效应...

企业债券融资:动荡时期的市场先机?

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2017.09.28
国家贸易风险及经济研究

2017年第三季科法斯全球国家及行业风险概览:世界经济持续回暖,欧洲增长最强

全球经济增速可能尚未达到最高水平(预计2017及2018年可达2.9%)但不可否认,增长趋势逐渐乐观。

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2017.09.14
国家贸易风险及经济研究

Coface announces CEE Top 500 companies: Automotive & transport sector is the regional leader. Oil & gas continues downturn, losing number one posit...

2016 – a mixed year for CEE. The labour market boomed, while turnover and net profit of the largest companies decreased by -0.6% and -3.1% / CEE Top 500 companies increased their workforces in 2016. Lower regional unemployment rates / Poland (+3.3% in turnover) remains the biggest player, followed by Hungary (-11.5%) and the Czech Republic (-2.2%) / Sectors: automotive industry up (+8.6% in turnover), oil & gas sector down (-5.6%)

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2017.09.14
国家贸易风险及经济研究

中东欧企业破产情况概览

中东欧企业破产情况概览: 2016年企业破产数减少,但建筑业出现衰退

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2017.09.14
国家贸易风险及经济研究

基础设施:拉美发展的「阿克琉斯之踵」(致命弱点)

地区内基础设施发展状况落后。投资率改善状况不佳 (...)

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2017.09.08
集团讯息

Fitch affirms Coface AA- rating, with an outlook ‘stable’

Fitch Ratings affirmed, on September 8th 2017, Coface AA- Insurer Financial Strength (IFS) rating. The outlook is stable.

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2017.09.06
集团讯息

科法斯任命Samuel Jesuratnam为新加坡分公司总经理

科法斯宣布任命Samuel Jesuratnam为新加坡分公司总经理,并于9月1日生效。

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2017.09.04
集团讯息

科法斯任命Bhavesh Patel为印度分公司总经理

科法斯宣布任命Bhavesh Patel为印度分公司总经理,于9月1日生效。Bhavesh接替Samuel Jesuratnam出任该职位,后者已被任命为科法斯新加坡分公司总经理。

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2017.08.04
国家贸易风险及经济研究

“特朗普经济学”如何影响拉美经济?

美国的政局变化给可能实施的贸易政策带来了不确定性,并导致该地区在金融形势趋紧时愈加脆弱 (...)

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2017.07.28
集团讯息

Coface H1-2017 Results

Operating income up 17.5% and net income at €20.2m
Improving guidance for 2017: net loss ratio 3pts better, at below 58%

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2017.07.27
集团讯息

Isabelle Laforgue and Nathalie Lomon join COFACE SA’s Board of Directors

Isabelle Laforgue and Nathalie Lomon join COFACE SA’s Board of Directors

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2017.07.24
国家贸易风险及经济研究

GCC banks urged to fine-tune liquidity management in order to address new economic cycle - Coface Economic Report

The stagnation of low oil prices is weighing on liquidity conditions across Gulf Cooperation Council (GCC) countries. This is slowing down government fiscal revenues (...)

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2017.07.10
国家贸易风险及经济研究

亚太区企业贸易信用调查报告2016: 极端风险提升

科法斯最新的年度企业贸易信用调查报告涵盖了亚太地区2,795家企业,聚焦8大市场:澳大利亚、中国大陆、香港、印度、日本、新加坡、台湾和泰国。该调查还对111个行业中的企业贸易信用情况变化进行了跟踪 (...)

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2017.07.05
国家贸易风险及经济研究

科法斯全球国家及行业风险概览

2017年第二季度对欧洲和俄罗斯而言是一个全新的开始,而在行业方面,部分国家的汽车和农产品业也看到了转机 (...)

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2017.07.04
国家贸易风险及经济研究

Sector risk assessments 2nd quarter 2017

12 Major sectors assessed worldwide

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2017.06.08
国家贸易风险及经济研究

英国退欧:尽管对市场造成冲击,但英国对企业仍极具吸引力

自公投以来,企业经营情况仍然稳定,但投资的低迷趋势已开始显现。
经济增长率降低(2017年为1.4%,2018年则为1.2%)将导致企业破产增加,分别达到8.7%和8%。

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2017.06.08
国家贸易风险及经济研究

Infographics - Brexit: despite a series of shocks, british companies remain sound

Mixed resilience, first signs of Brexit during the exit negociations phase but still some positive points...

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2017.06.02
国家贸易风险及经济研究

Russia is emerging from recession, but the structural constraints risk impeding its mid-term growth

The diversification of the Russian economy, made necessary by a slump in oil prices that is set to last, is coming up against structural constraints that may well have a deleterious effect on its mid-term growth.

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2017.06.01
集团讯息

科法斯集团委任宣凯(Carlos Casanova)为亚太区经济师

科法斯集团于5月15日委任宣凯(Carlos Casanova)为驻香港亚太区经济师,是次委任加强科法斯集团在亚太区的宏观经济和贸易风险的研究。

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2017.05.24
集团讯息, 产品信息

Coface places digital transformation at the heart of its strategy with launch of new customer portal

Coface’s new customer portal and fully revamped CofaNet online credit insurance contract management tool are being launched today. With the new solutions, customers will benefit from innovative features, unique access, customised content, advanced ergonomics, real time results displays and easier contacts.

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2017.05.17
国家贸易风险及经济研究

New Coface survey shows optimism among UAE non-oil private companies

Coface, the worldwide leader in trade credit management solutions and risk information services, has published its first-ever Credit Opinion Survey for the UAE region (...)

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2017.05.05
国家贸易风险及经济研究

Labour shortages in the Central and Eastern Europe region: an opportunity for households but a threat for local companies

Developments in Central and Eastern Europe (CEE) labour markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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2017.05.02
集团讯息

Coface digitalizes the customer experience

One of the priorities of Coface’s three-year strategic plan Fit-to-Win is to enhance Client Service.

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2017.04.26
集团讯息

Coface results for Q1-2017: Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.

Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.

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2017.03.31
国家贸易风险及经济研究

2016年中国企业付款状况有所改善 - 但遭遇超长逾期账款的企业仍然高企

科法斯于2016年对1017家中国企业发起信用风险管理调查。该调查显示2016年中国企业付款情况有所改善,只有68%的受访企业录得买家逾期付款记录 (..)

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2017.03.29
国家贸易风险及经济研究

科法斯推出全新政治风险指数:159个国家的政治风险评估

全球政治风险加剧影响各地区经济增长

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2017.03.29
国家贸易风险及经济研究

全球国家与行业贸易风险第一季度概览 - 尽管政治风险持续存在,企业经营信心再度回升

企业经营信心显著回升,这是2017年初全球经济的一大惊喜,不过尚不足以全面改善国家与行业贸易风险。

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2017.03.21
国家贸易风险及经济研究

Infographics : New political risk index for 159 countries

Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to intensification of armed conflicts

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2017.03.21
国家贸易风险及经济研究

Infographics : Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwide

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2017.03.15
国家贸易风险及经济研究

人民币贬值、资本流动措施和新的货币立场——这对中国企业有何影响?

人民币的贬值趋势,以致近几个月来实施的资本流动管制措施,都令市场担忧中国经济的发展。

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2017.02.08
集团讯息

Coface results at 31 December 2016

“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)

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2017.02.07
国家贸易风险及经济研究

First Brazilian Corporate Payment Survey 2016

Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients;

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2017.02.03
集团讯息

Coface Group: Executive Committee appointments

As part of the implementation of the three-year strategic Fit-to-Win plan, aimed at positioning Coface as the most agile global credit insurer on the market, changes are to be made to the Group's Executive Committee, effective from 3 April 2017.

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2017.01.26
国家贸易风险及经济研究

2017:新兴国家政治风险与银行业风险交织的一年

尽管近期经济势头有所回升,但本年度,诸多不确定因素仍将主导全球经济形势。

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2017.01.23
国家贸易风险及经济研究

Infografics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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2017.01.20
国家贸易风险及经济研究

Poland Payment Survey: Payment delays pervade Polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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2017.01.02
集团讯息

Coface has transferred French State export guarantees activity to Bpifrance

In line with previous communication, Coface has ceded its State export guarantees activity to the French public investment bank, Bpifrance.

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2016.12.23
国家贸易风险及经济研究

After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”

Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.

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2016.12.23
国家贸易风险及经济研究

South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)

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2016.12.16
国家贸易风险及经济研究

Uberisation of French economy: a positive impact on employment but will it last?

Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)

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2016.12.05
集团讯息

Coface appoints Thiti Musuwan as Country Manager of Coface in Thailand

Reinforcing its commitment to continue to be the leading credit insurance provider of Thailand, Coface is appointing Thiti Musuwan as Country Manager of Coface in Thailand effective from 1 December. Thiti will manage the operations and develop Coface’s credit insurance and credit management services in Thailand.

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2016.12.02
国家贸易风险及经济研究

科法斯调整全球6个地区的行业风险评估

2016年底,全球行业的趋势仍错综复杂,有些地区至今仍可在风险增长的大局之下相对独善其身。纵观全年,我们对全球6个地区的12个行业进行了评级,其中近半数评级都出现变更。其中:23个降级,升级的仅为10个。

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2016.12.02
国家贸易风险及经济研究

German Economy in 2017: Stable, but not staid

The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.

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2016.11.25
集团讯息

Coface appoints Abhay Narkar as Vice President and Head of Single Risk, Financial Institutions & Structured Finance in Asia Pacific Region

As Coface positions its business in the Asia Pacific Region for growth we need to ensure that we are driving global and regional collaboration to deliver our global product and sector expertise to provide smart solutions for our customers, as well as to ensure acceptable and smart risk management. In order to do this, we are strengthening and upgrading our coverage in the important segments consisting of solutions for financial institutions, single risk transactions and structured finance.

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2016.11.15
国家贸易风险及经济研究

Mexico’s Economy: more difficult times ahead

In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.

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2016.11.08
集团讯息

安倍经济学“第一支箭”为何失效了?

自2013年初安倍经济学实行以来,日本央行(BOJ)一直推行大胆的宽松货币政策,统称为“安倍经济学第一支箭”。这些措施包括在2013年4月出台的“量化及质化宽松”(QQE),2016年1月祭出的“QQE+负利率”,以及在2016年9月最新宣布的“QQE+收益率曲线控制”。然而当前,距离“第一支箭”射出已过了三年半,其成效尤其是对日本出口及日元汇率的影响却日渐衰微。

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2016.11.03
集团讯息

Coface results at 30 September 2016: Operating trends in line with Fit to Win

Xavier Durand, CEO of Coface, commented: These results are in line with the trends that we highlighted last September at our Investor Day.

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2016.11.02
集团讯息

Franck Marzilli appointed Group Compliance Director of Coface

Effective in December 2016, with the objective of strengthening Coface’s controllership functions in a context of increasing complex and stringent regulations.

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2016.11.02
集团讯息

Pierre Bevierre joins Coface as Group Human Resources Director

Pierre Bevierre, who holds a post-graduate degree (DESS) in Human Resources from Paris Dauphine University, is appointed Group Human Resources Director with effect from January 2017.

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2016.10.20
国家贸易风险及经济研究

发达国家面临日益增长的政治风险:达摩克利斯之剑高悬于欧洲各主要经济体

经济危机的持续自然而然地加剧了政坛风险叵测的局面,这在评估国家风险中是至关重要的因素。

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2016.10.19
国家贸易风险及经济研究

英国脱欧和石油收入的减少带来的冲击将引发进一步下调评级

全球经济增长:发达国家企稳,新兴经济体略有改善

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2016.10.17
国家贸易风险及经济研究

Infographics - Is political risk a new threat for the global economy?

European political calendar: crucial deadlines

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2016.10.09
国家贸易风险及经济研究

Latin America: Why are manufacturing exports still lackluster?

Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years..

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2016.09.30
集团讯息

Coface welcomes Fitch’s decision to affirm its AA- rating

Fitch Ratings issued, on September 29th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.

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2016.09.27
集团讯息

Coface is awarded Best Trade Credit Insurer in Asia Pacific

Coface is awarded ‘Best trade credit insurer in Asia Pacific’ in 2016 by GTR, marking the second time the firm has won this award. GTR is the world’s leading news source, publisher and event organiser for the global trade, commodity, export and supply chain finance industries, with offices in London, Hong Kong and Singapore.

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2016.09.26
国家贸易风险及经济研究

法国经济: 增长陷入暂时性停滞

第二季度表现受到外部冲击影响
2016年的增长率预计仍保持在1.6%的正值
非金融类企业债务:呈现上升趋势,在全欧范围内可谓独一无二,但远低于警戒线

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2016.09.23
集团讯息

Fit to Win plan to transform Coface into the most agile global trade credit partner in the industry, while evolving to a more efficient capital model

Fit to Win 3-year plan financial ambitions

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2016.09.22
国家贸易风险及经济研究

Moroccan company payments survey 2016

Morocco’s growth rate has slowed in 2016, after recording an increase of close to 4.5% in 2015.

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2016.09.22
国家贸易风险及经济研究

Poland Insolvency Report: Insolvencies fall amid fair economic growth

Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015
Business is benefiting from positive macroeconomic conditions
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017

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2016.09.21
国家贸易风险及经济研究

法国汽车行业短期内风险下降,但深层变革即将发生

汽车行业已被上调至低风险类别; 私人买家重返轿车市场促使新车销售量激增,预计2016年增长5.6% (..)

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2016.09.12
国家贸易风险及经济研究

Agrofood in North Africa: a strategic sector at nature’s mercy

Several favourable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.

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2016.09.07
国家贸易风险及经济研究

美国制药业的前景是“乐观”还是“悲观”

尽管私人和公共投资充裕,美国国民健康指针仍低于12个先进国家水平

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2016.08.30
国家贸易风险及经济研究

The outlook for the us pharmaceuticals

Of all the industrialised nations, the USA has the highestn expenditure for public healthcare but poor results

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2016.08.29
国家贸易风险及经济研究

New Germany Corporate Payment Survey 2016

Despite the solidity of Germany’s economy, payment delays are still commonplace

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2016.08.16
集团讯息

Coface awarded “Asian Credit Insurer of the Year” & Country Award “Digital Insurance Initiative of the Year – Singapore”

Coface won big at the Asian Banking and Finance (ABF) Insurance Asia Awards 2016, receiving double awards with the Regional Award “Asian Credit Insurer of the Year” & Country Award “Digital Insurance Initiative of the Year – Singapore”.

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2016.08.09
国家贸易风险及经济研究

中国的双速经济:行业的最新胜负

中国经济在2015年增长6.9%,增长步伐是25年以来最慢的一次。预期2016年和2017年增长将继续放缓,或未能达到中国政府于“十三五”规划(2016 - 2020年)中设定的平均年增长6.5%的目标。

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2016.08.02
集团讯息

Coface appoints Hugh Burke as Chief Commercial Officer of Asia Pacific Region

In line with its Asian growth strategy, Coface is appointing Hugh Burke as Chief Commercial Officer of the Asia Pacific Region. He will take up his new role in October 2016.

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2016.07.27
集团讯息

H1-2016 results in line with July 4th announcement.

Strategic plan Fit to Win designed to transform Coface into the most agile global trade credit partner in the industry

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2016.07.19
国家贸易风险及经济研究

科法斯对全球6个地区的行业风险评估进行调整

新兴市场行业风险持续攀升

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2016.07.18
国家贸易风险及经济研究

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries

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2016.07.15
国家贸易风险及经济研究

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditions

The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%.

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2016.07.14
国家贸易风险及经济研究

United Arab Emirates: A new era of slower growth

High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged (..)

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2016.07.08
国家贸易风险及经济研究

科法斯经济学家眼中的2016欧洲杯决赛!

两国是如何打败竞争对手的 (..)

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2016.07.07
国家贸易风险及经济研究

全球企业贸易风险达新高峰

预测2016年全球经济增长下调0.2个百分点至2.5%; 全球平均贸易风险水平为B级 « 显著风险 »; 更多新兴市场国家风险水平达 “最高风险” 和 “非常高风险” 级别; 全球三大主要经济体变得疲弱; 部分亚洲国家遭受中国经济影响,贸易风险恶化; 欧洲经济稳步增长,但英国脱欧引致的政治风险存隐患 (..)

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2016.07.05
国家贸易风险及经济研究

尽管风险持续,撒哈拉以南非洲地区2025年仍展商机

深受中国经济放缓和大宗商品价格下跌冲击,撒哈拉以南非洲地区经济成长跌至2008年金融海啸以来最低水平。非洲15国,包括深受金融海啸冲击者,在个人消费支出面展现庞大潜力。两个行业中期展现商机:零售和ICT (..)

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2016.07.04
集团讯息

Coface strengthens its risk function with the appointment of Thierry Croiset as Group Risk Director

Thierry Croiset, 56, will join credit insurer Coface as Group Risk Director as of 11 July 2016, reporting directly to Carine Pichon, Chief Finance & Risk Officer.

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2016.06.29
国家贸易风险及经济研究

Infographics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

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2016.06.24
国家贸易风险及经济研究

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

Europe’s improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern (..)

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2016.06.14
集团讯息

Thibault Surer appointed Group Strategy and Business Development Director

Thibault Surer, 54, joins credit insurer Coface as Strategy and Business Development Director of the Group. The department he will head up covers Strategy, Business Development, Marketing & Innovation. Thibault becomes also a member of the Group Management and Executive Committees.

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2016.06.06
国家贸易风险及经济研究

2016欧洲杯24强 整装待发

根据现有阵形,获得赛事资格国家的科法斯国家贸易风险评级

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2016.06.03
集团讯息

Coface strengthens organisation in Asia, with the appointment of Bhupesh Gupta as Asia Pacific CEO

In line with its Asian growth strategy, Coface is appointing a seasoned financial services professional, Bhupesh Gupta, to run its Asia Pacific operations.

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2016.06.02
国家贸易风险及经济研究

法国经济真的起飞了吗?

2016年1月至4月期间,许多正面数据反映法国经济正稳步增长 (,.)

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2016.05.31
国家贸易风险及经济研究

2015年亚太企业逾期应收账款问题未见改善

科法斯亚太经济体年度企业付款调查项目覆盖来自8个不同市场:澳大利亚、中国、香港、印度、日本、新加坡、台湾和泰国的共2793家企业,旨在记录11个行业的企业付款行为演变。85%的企业为其买家提供赊销以舒緩买家资金周转紧张问题。 (..)

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2016.05.23
集团讯息

Coface AA- rating affirmed by Fitch

Fitch Ratings issued today, May 20th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.

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2016.05.18
国家贸易风险及经济研究

What to expect from Brazil’s perfect storm?

Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (..)

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2016.05.12
国家贸易风险及经济研究

Hungary: Private consumption rising but challenges remain for corporates

Hungary is performing well, considering the context of struggling economies globally.

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2016.05.04
集团讯息

Coface Q1-2016 results: A tough quarter in a polarized environment

This has been a tough first quarter. Business turnover and profits were lower compared to the same period last year, against the backdrop of a polarized and volatile economic environment.

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2016.04.21
国家贸易风险及经济研究

季度行业风险评估最新信息 - 新兴市场行业风险持续受压

全球经济增长放缓(科法斯预计2016年为2.7%),根据科法斯分析,各行业状况正受动荡的金融市场和持续低油价所影响 (...)

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2016.04.21
国家贸易风险及经济研究

全球钢铁产能过剩:2016年行业风险达高峰

随着中国在2000年代所驱动的需求逐渐趋缓,全球钢铁业成长停滞 (...)

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2016.04.13
国家贸易风险及经济研究

Infographics - Steel: faced with global overcapacity

Metals industries, the world's riskiest sector. Over-capacities remain. Outlook: return to normal for 2018.

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2016.04.01
国家贸易风险及经济研究

最新科法斯季度国家贸易风险评估

全球经济逐渐“日本化”:尽管已实施超扩张性货币政策,全球经济增长持续低迷 (...)

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2016.04.01
国家贸易风险及经济研究

捷克共和国、波兰、智利及泰国的出口可望短期内回升

目前新兴国家正面临巨大的经济危机,这些国家的经济增长在五年内削减一半,同时面对日益增加的货币和债务风险 (...)

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2016.03.24
国家贸易风险及经济研究

Infographics: Companies in emerging countries: is another “Phoenix miracle” possible?

Consult coface new infographics

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2016.03.16
国家贸易风险及经济研究

中国企业几无幸免: 80%的企业受逾期账款影响

经济增长缓慢,不良贷款增多,人民币大跌及股票的波动都是中国2016年存在的风险 (...)

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2016.03.09
国家贸易风险及经济研究

Risks for German exports have risen significantly

The greater export risks faced by German companies are hampering growth performance. As Germany has strong trading ties with the Emerging Market and Developing Economies group (EMs), it is highly exposed to the (...)

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2016.03.03
国家贸易风险及经济研究

科法斯携手中化国际签署战略合作伙伴关系备忘录并重申中国市场发展战略

2016年3月3日,全球领先的信用保险公司科法斯与中化国际(控股)股份有限公司(下称“中化国际”)在上海举行了隆重的战略合作伙伴关系备忘录签约仪式。科法斯集团执行总裁Xavier Durand 先生强调,科法斯将持之以恒为中国企业提供本地及全球性的业务支持。(...)

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2016.02.23
国家贸易风险及经济研究

中国对拉丁美洲的作用远超贸易范畴

尽管还未在经济上与国际市场完全接轨,但中国正逐渐成为全球金融市场的重要成员;中国已宣布对拉美地区的投资将增加至 (...)

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2016.02.19
国家贸易风险及经济研究

Panorama : Company insolvencies in France

Lessons learned 2015, hope in 2016: situation of companies returning to normal

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2016.02.09
集团讯息

Coface 2015 results: net income €126M and proposed dividend stable at €0.48 per share (5)

At the end of 2015, a year marked by a deterioration in the global economic environment, Coface recorded a slight increase in net income (group share), at €126M (€125M in 2014).

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2016.01.28
国家贸易风险及经济研究

2016年国家风险持续恶化

2016年三大风险:经济成长趋缓、政治局势紧张及新兴国家之企业负债高企

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2016.01.28
国家贸易风险及经济研究

Infographics : Country risk assessment map - January 2016

160 countries under the magnifying glass

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2016.01.22
集团讯息

Graham Crozier appointed Chief Executive of Coface in Australia and New Zealand

Graham Crozier is appointed Chief Executive of Coface Branch in Australia, effective from 1st February 2016. He will oversee the business development and the operations of Coface‘s trade credit insurance and services activities in Oceania.

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2016.01.15
集团讯息

The Board of Directors of Coface announces the appointment of Xavier Durand as Chief Executive Officer

This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.

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2015.12.14
国家贸易风险及经济研究

欧洲葡萄酒生产模式正面对挑战,西班牙尤处于弱势

• 葡萄酒消费量在欧洲正在下跌,但需求在世界其他地区上升
• 预计到2027年,需求主要由中国和美国带领
• 60%的葡萄酒生产和接近三分之二的葡萄酒出口源自欧洲
• 三种生产模式共存于欧洲
• 欧洲的风险和机遇 - 中国葡萄酒消费量不断增加,但来自新世界的竞争正在加剧

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2015.12.14
国家贸易风险及经济研究

季度行业风险评估最新资讯 - 2015年全球多个行业高风险持续

行业风险评估的最新下调修订反映出各行业所面临的严峻现实 (...)

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2015.12.09
国家贸易风险及经济研究

Infographics : Globalisation of the vine market

Europe's double positioning and Asia, the world's futur landing consumer

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2015.12.09
国家贸易风险及经济研究

Infographics : Sector risks - 4th quarter 2015

The temperature of 14 sectors in 3 of the world’s major regions

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2015.12.01
国家贸易风险及经济研究

Construction: the Achilles' heel of the French economy

Following a long period of stagnation, construction in Europe is showing signs of recovery. In France it is the only sector, out of the fourteen studied by Coface, to be rated as very high risk (...)

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2015.12.01
国家贸易风险及经济研究

French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk

Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016. Company insolvencies are down, although the level remains high (...)

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2015.11.19
国家贸易风险及经济研究

Egypt: slow recovery and structural challenges

Coface forecasts growth of 4.4% for 2015/2016

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2015.11.18
国家贸易风险及经济研究

科法斯年度環球貿易風險論壇 - 宣佈最新國家及行業貿易風險評估

雖然全球經濟持續復甦,但GDP成長速度已是連續四年不會超過3%(預測2015年將上升2.6%)。先進國家則情況較佳:美國的商業活動在第二季顯著回升(預測2015年將上升2.5%),歐元區的消費支出和投資增加,經濟動力逐漸改善(1.5%)。
據科法斯預測,與2006-2007年13.4%的增長速度相比,2015年中國的經濟增長不太可能超過6.7%,2016年將可能低於6.2%。這主要是技術和資本追趕過程失去動力所造成:眾多行業正蒙受產能過剩及企業債務高築帶來的不利影響,令投資大不如前。科法斯評估,今年必須持續警覺觀察新興國家的國家風險。(...)

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2015.11.09
国家贸易风险及经济研究

Brazil: no quick fix for the crisis

Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling (...)

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2015.11.02
集团讯息

Results at 30 September: Coface stabilizes results and posts profit of EUR 98 million

Coface once again posts an increase in turnover this quarter. In spite of a difficult economic climate in certain emerging markets, we have managed our loss ratio well by applying our expertise in risk management. In doing so, we are pursuing our path of profitable growth while protecting and supporting that of our clients.

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2015.10.28
国家贸易风险及经济研究

关注欧洲太阳能源的未来:光电

• 从2006年的快速成长到2011年政府补贴终止,投机泡沫随之破灭
• 市场受到中国企业强势进迫
• 欧洲产能过剩
• 然而就中期而言,市场前景依然可期

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2015.10.28
国家贸易风险及经济研究

Infographics : focus on the future of solar energy in Europe: photovoltaics

Discover our new Infographics focus on the future of the solar energy in Europe

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2015.10.27
国家贸易风险及经济研究

科法斯季第三度行业风险评估

能源业面对前所未有的风险,信息科技是唯一风险改善行业,汽车业则在调整中。

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2015.10.27
国家贸易风险及经济研究

Infographics : The temperature of 14 sectors activity in the world

Discover our sector risk infographics on the temperature of 14 sectors activity in the world

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2015.10.19
国家贸易风险及经济研究

Half year 2015 Insolvency Report: Poland continues on improvement track

Poland’s increased economic activity has already reached the levels required to stabilise the number of company insolvencies.

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2015.10.12
集团讯息

科法斯集团获“亚太最佳信用保险服务”荣誉

科法斯集团被GTR评为“亚太最佳信用保险服务”公司。GTR于伦敦、香港和新加坡设有机构,是全球领先的新闻资源发布者以及全球贸易、商品、出口、供应链金融行业相关会议组织者。

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2015.09.29
国家贸易风险及经济研究

How Gulf Cooperation Council countries (GCC) are dealing with falling oil prices

As oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors. In the UAE, the food and beverage sector is forecasted to grow by 36% between 2014 and 2019, while KSA’s automotive industry is slated to rise by 5.2% in 2015.

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2015.09.24
国家贸易风险及经济研究

中国经济增长放缓将会波及整个亚洲?

中国正在寻求更加健康且可持续的经济增长模式,但在此过程中,中国或其邻国的经济将难免遭遇阵痛。据科法斯公司预测,与2006-2007年13.4%的增长速度相比,2015年的经济涨幅不太可能超过6.7%,2016年将可能低于6.2%。这主要是技术和资本追赶过程失去动力所造成:众多行业正蒙受产能过剩及企业债务高筑带来的不利影响,因此影响了投资 (...)

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2015.09.23
国家贸易风险及经济研究

最新科法斯季度國家風險評估-新興國家正經歷亂流

新興國家正經歷亂流 (...)

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2015.09.22
国家贸易风险及经济研究

Infographics: Chinese slowdown: what risk of contagion for Asian countries?

We are witnessing a shift in the Chinese economic model. Which Asian countries will be the first victims if there is a hard landing? And which will enjoy the greatest immunity?

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2015.09.21
国家贸易风险及经济研究

拉丁美洲:商品泡沫爆破后的经济发展

拉丁美洲的增长自2011年开始放缓,在国内基本因素疲弱的情况下,加上2014年下半年出现的周期性恶化,我们已预期2015年有进一步下降趋势 (...)

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2015.09.18
国家贸易风险及经济研究

Country risk assessment map - 3rd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

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2015.09.15
国家贸易风险及经济研究

西欧国家企业破产:预计2015年下降7%,但情况各异

西欧国家企业破产情况连续经历两个风暴持续恶化。首先是次贷危机,使西欧12国的企业破产数平均攀升11%;随后的金融海啸无疑使企业破产数持续增加 - 2012年达8%而2013年达5%。近来情况终露曙光,2014年观察到该数据平均降幅9%,预测2015年也有7%的降幅。虽然意大利及挪威的企业破产数持续增加,其他10个欧元区国家已可见改善 (...)

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2015.09.06
集团讯息

Coface appoints Yoshihiro Suchi as Country Manager of Coface in Japan

Yoshihiro Suchi has been appointed as Country Manager of Coface in Japan effective from 28 September 2015. Based in Tokyo, Yoshihiro will oversee the business development and the operations of Coface’s trade credit insurance and services activities in Japan.

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2015.09.06
国家贸易风险及经济研究

Infographics: Insolvencies in Western Europe: A downward cycle has started

Infographics : Insolvencies in Western Europe: A downward cycle has started - The economic recovery in the euro zone supports this trend - September 2015

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2015.08.03
集团讯息

Coface appoints Andrew Ross as Regional Head of Coface Global Solutions in Asia Pacific

Andrew Ross has been appointed as Senior Vice President, Regional Head of Coface Global Solutions in Asia Pacific effective from 1 August 2015.

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2015.07.29
集团讯息

H1-2015 results: Coface posts a profit of EUR 66 million in spite of an increase in claims in emerging countries

Since the end of last year, at the occasion of our periodic results publications, we have noted weaknesses affecting the macro-economic environment. The first half of this year confirms this trend, and it was marked by an increase in the frequency of claims, in particular in emerging markets. Given this context, we are publishing good quality half-year results. The Group thus confirms the robustness of its business model: product innovation and multi-channel distribution, while controlling risks and costs.

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2015.07.28
国家贸易风险及经济研究

中东欧汽车行业高度依赖于外国投资 - 但国内需求正积极增长

中欧和东欧地区已经成为全球汽车制造商理想的投资地区。2014年,东欧出产了360万辆汽车,相当于欧盟总产量的21% (...)

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2015.07.17
国家贸易风险及经济研究

Country risk map - 2nd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

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2015.07.01
集团讯息

Coface appoints Thomas Yong as Executive Vice President, Chief Commercial Officer, Asia Pacific

Coface appoints Thomas Yong as Executive Vice President, Chief Commercial Officer for Asia Pacific Region with effective 29 June 2015.

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2015.07.01
集团讯息

New appointments of Coface Risk Underwriting team in Asia Pacific Region

Coface appoints Victoria Ma as Executive Vice President, Chief Risk Underwriting Officer, Asia Pacific and
Xavier Farcot as Executive Vice President, Regional Risk Underwriting Director of Coface Global Solutions, Asia Pacific

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2015.06.29
国家贸易风险及经济研究

撒哈拉以南非洲: 从金融风暴得到保护的三个东非经济体

尽管撒哈拉以南非洲地区高度依赖由商品价格高企引致增长加速,该地区现在必须应付油价下跌的影响。科法斯筛选的45个国家均受到了不同程度的影响,其中三个国家,均具备短期和长期积极增长的元素。他们经济的多样化,令其一直较为不受全球商品价格下调的影响。

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2015.06.25
国家贸易风险及经济研究

Infographics : Country risk assessments June 2015

Discover in this new infographic which country risk assessments are upgraded or downgraded by Coface.
In addition: Focus on Sub-Saharan economies - Is the risk of bad economic weather high?

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2015.06.25
国家贸易风险及经济研究

科法斯季度国家风险评级

中国国家风险调降,受到油价下跌影响的经济体列为负面观察

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2015.06.17
国家贸易风险及经济研究

印度经济复苏全赖莫迪政府?

2015年5月,国际货币基金组织点出印度为“全球经济中的一个亮点”,主要由于新政府结束了过去政治不稳定状况并更有效实施新政策。科法斯预计,印度的国内生产总值增速将达7.5%。但莫迪的改革对近期增长有多大影响?而经济的改善是否零风险?

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2015.06.15
国家贸易风险及经济研究

After a decade of well-implemented reforms and high growth rates, the Turkish economy struggles to maintain the same performance

A Coface Panorama on Turkey forecasts a growth rate of 3.5% this year, still solid but below the potential growth rate estimated at 5% and lower than similar economies

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2015.06.04
国家贸易风险及经济研究

科法斯中欧和东欧企业破产监测:经济前景有所改善,但企业仍面临挑战

2014年中欧和东欧经济活动的改善促使企业破产数量维持稳定,区域内出现平均0.5%的轻微下降。

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2015.06.01
国家贸易风险及经济研究

欧洲牛奶配额制结束: 新规则

2015年4月1日欧洲牛奶配额制 - 自1984年起为控制产量过剩而设定的管控工具宣告废除, 将导致所谓的“黃油堆成山,牛奶流成河”。这也是三十年以来市场首次可以独立决定牛奶产量。法国奶农是否做好了应对准备?废除牛奶配额制是否有利出口到快速增长的亚洲市场?法国奶农又能否在要求嚴謹的有机产品市場发展?

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2015.06.01
国家贸易风险及经济研究

Infographics: End of Milk Quotas: a new era for the french dairy sector

The dairy market

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2015.05.29
国家贸易风险及经济研究

Business insolvencies in France at the end of April 2015: The numbers continue to slowly improve, at -2.7% on a year

The favourable swing first seen in 2014 continues. The immediate rise in business insolvencies in the first four months was partly due to a catching up after the artificially low year-end data, because of the industrial action within the court system, which has however resurfaced in May.

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2015.05.05
集团讯息

Coface begins 2015 with robust results: increased turnover and profitability in Q1

We begin 2015 with robust results: the Group’s growth and profitability are satisfactory and demonstrate the steadfastness with which the Group is implementing its strategy in a still mixed economic environment.

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2015.04.28
国家贸易风险及经济研究

亚太地区70%的企业在2014年遭遇买家逾期拖欠:</br>中国,印度,香港和泰国在2015年面临更多挑战

科法斯针对亚太经济体的年度调查报告访及8个国家的2695家企业,70%的被调查企业在2014年经历买家逾期未付货款,达3年来的最高水平。此外, 37%的受访者表示逾期未付货款的金额在2014年有所抬升,较前一年多2%。

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2015.04.23
国家贸易风险及经济研究

美国汽车业已安然恢复高速增长?

2007-2009 年期间美国经济受到重创,为挽救美国汽车业,政府注入 800 亿美元的援助,各大车厂大量裁员,才能令美国汽车业免于危亡 。经过多年努力,美国汽车制造商正重塑其竞争力,并受惠于美国的经济复苏(预测2015年增长 2.9%),宽松的信贷带动了市场需求,产业活力得以回升,但代价是什么?科法斯预测, 2015 年美国汽车销售额相较于 2014 年将以3.8%的速度持续增长 ,但这仍远低于近年的水平。
汽车业需要继续放眼未来,并放手变革以迎接未来的新挑战。

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2015.04.23
国家贸易风险及经济研究

国际油价下跌影响 科法斯更新行业风险评估

近期国际油价下跌,已为全球企业信用风险带来连锁反应。科法斯针对14个行业进行风险评估,指出油价重挫下的赢家与输家,并修正行业上行及下行风险。

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2015.04.15
国家贸易风险及经济研究

New infographics, The US automobile sector : a risky recovery?

Discover the new Coface infographics (April 2015)

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2015.04.01
国家贸易风险及经济研究

科法斯国家贸易风险和商务环境评估季度更新

科法斯提高两个欧洲经济体的国家贸易风险评级,将巴西列入负面观察名单
将俄罗斯的商务环境降为C级

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2015.04.01
国家贸易风险及经济研究

将于未来十年内避免 "长期停滞" 风险的五个国家

在全球经济正式复苏三年多之后,发达国家都在努力寻求持续增长的道路。市场甚至预期其中一些经济体会出现增长停滞,而且这种状况有时被认为是不可逆转的。但是,并非所有发达国家都面临长期增长停滞的风险,有些国家能在全球复苏不稳定的环境中脱颖而出。那么,究竟经合组织的发达经济体中哪些国家具备条件可在未来十年可以加速增长呢?

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2015.03.19
集团讯息

Holding a leading position in business information, Coface starts credit-insurance in Israel

Local companies to benefit from Coface’s expertise in prevention and credit risk protection in addition to collection and information services.

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2015.03.04
国家贸易风险及经济研究

中国企业逾期付款现象严重: 2014年80%的企业受到影响

全球领先的信用保险集团科法斯于2014年第四季度发起中国企业信用风险管理调查。该调查显示八成的中国企业在2014年录得逾期付款纪录。科法斯预测2015年GDP增长将放缓至7%(2014年的涨幅为7.4%)。由于企业仍旧面临高杠杆、融资成本高及利润低(产能过剩所致)的挑战,预计企业的拖欠状况在短期内无法取得改善。

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2015.03.04
国家贸易风险及经济研究

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international quotations - and why are others negatively impacted?

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2015.03.02
集团讯息

科法斯集团公布2014年业绩符合预期目标 建议每股派息 0.48欧元 (1)

我们很高兴公布全年业绩符合我们的预期。科法斯今年已经再次证明了我们针对性的盈利增长模式。我们的创新产品组合,合适的分销渠道,广泛的国际网络和审慎的风险管理都促成了我们显著增长的成果。

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2015.02.10
国家贸易风险及经济研究

土耳其 - 汇率贬值及内需不振影响企业的付款表现

2013年5月美联储主席本•伯南克退出策略的披露,引发了以对发展中国家的金融市场风险认知变化为标志的新时期。在经常账户赤字居高不下,生产大量依赖进口和连续三次大选背景下,土耳其进入了该时期。

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2015.02.05
国家贸易风险及经济研究

拉美地区 - 太平洋沿岸诸国重见增长

三十年前,拉美地区一直与“独裁”、“债务危机”和“高通胀”等负面词汇联系在一起。近些年来,该地区已经开始成为经济增长、新中产阶级、贫穷减少、可控的通胀所在。

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2015.01.28
国家贸易风险及经济研究

2015 科法斯全球国家风险论坛: 受制于多重风险,2015年全球经济复苏举步维艰 - 中国首被列入A3“负面观察”名单

全球经济正在逐步复苏,相较于2008年金融危机前的活跃,其增长仍较为平缓。

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2014.12.23
国家贸易风险及经济研究

法国“低通胀”,改变增长步伐的标志

在通货膨胀缓慢(“低通胀”)及零增长的背景下,法国正陷入价格下跌的恶性循环中难以逃脱。法国是否可能同日本在1990到2010年间所经历的一致,遭遇漫长的价格和增长低潮,而并不至于陷入上世纪30年代美国及欧洲部分国家的严重经济萧条中?若真如此,这对法国经济及企业来说又意味着什么?)

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2014.12.22
国家贸易风险及经济研究

法国企业破产数量略见减少

截止十月底,过去十二个月内法国企业破产数量为63002家。据科法斯观察,该数量比去年同期下跌0.9%,落至2010年以来低位,而往年的十月通常形势惨淡。即使整体环境仍脆弱,家庭消费稍升和部分行业结构调整使得这种情况有轻微好转。然而,我们注意到违约企业的类型出现了一些变化。预计在2015年,法国企业破产的数量将进一步减少,但减幅有限。

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2014.12.17
集团讯息

科法斯集团连续两年荣获「最佳信用保險服務」美誉

科法斯集团连续两年被CFO Innovation Asia评为“最佳信用保险服务”公司。CFO Innovation Asia是专为亚洲及中国地区企业的高层财务管理人员而设的网上刊物。

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2014.12.15
集团讯息, 产品信息

Coface obtains credit insurance license in Morocco and strengthens its leading position in Africa

Present in Morocco since 2007, Coface has now obtained its license for insurance and reinsurance activities from the regulatory authorities.

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2014.11.26
国家贸易风险及经济研究

后经济危机时代,欧洲医药企去向如何?

鉴于对欧洲国家经济状况的依赖性,欧洲医药行业在2008至2009年的危机中陷入瘫痪,并在2011至2012年的主权债务危机中再次陷入困境。由于业绩受欧洲各国减少医疗支出影响,医药企业正寻求重振,扩大新市场份额并投资少数市场以打破僵局。

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2014.11.26
国家贸易风险及经济研究

科法斯季度行业风险调查:涵盖全球三大区域十四个行业

北美化工业,运输业及纺织服装从“中度风险”下调至“低风险”
经济前景看俏及油价下跌 北美行业风险转趋改善

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2014.11.20
国家贸易风险及经济研究

Polish insolvencies stop rising - but for how long?

The insolvency statistics for Polish companies reflect an improvement during the first half of 2014. In total 402 companies declared bankruptcy, representing a decrease of 11.5% compared to the same period in 2013.

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2014.11.12
国家贸易风险及经济研究

科法斯於香港舉辦年度環球貿易風險論壇 預計全球經濟正緩慢增長

科法斯今天在香港舉行每年一度的環球貿易風險論壇,吸引了300多人參加。
來自知名企業包括ANZ,Crédit Agricole CIB,香港總商會,安踏體育用品有限公司及Telos Capital & Risk Management Ltd 的頂尖經濟學家和管理人員在會議上分享了他們對全球主要國家經濟發展的見解,以及對企業風險管理的看法。

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2014.11.11
国家贸易风险及经济研究

科法斯首次在台舉辦全球國家風險論壇 預測全球經濟正緩慢成長

科法斯首度於台北舉行國家風險論壇,吸引200多位與會者參與。來自知名企包括富邦金控、中華徵信所、及台灣金融研訓院的頂尖經濟學家及高階管理階層,在會議上分享了他們對全球主要國家經濟發展及企業風險管理的看法。

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2014.10.30
国家贸易风险及经济研究

最新国家风险评级

欧元区经济缓慢复苏,新兴国家财政形势仍见动荡

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2014.10.29
集团讯息

Results at 30 September 2014: Coface continues to progress on a path of growth and profitability

Coface’s performance is in line with objectives. At the end of these first nine months, the Group has posted satisfactory growth and solid profitability.

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2014.10.03
国家贸易风险及经济研究

European airlines are among the least profitable in the world: what is the adaptation scenario?

At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?

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2014.09.25
国家贸易风险及经济研究

2013年罗马尼亚曾位居经济增长前列 - 2014年实行紧缩政策后,是否能够再接再厉呢?

罗马尼亚经济的亮眼表现已使其成为欧洲经济复苏的主导者之一。2013年,该国GDP增速达3.5%,超出先前预期。这要归功于农业和工业部门的巨大贡献,尤其是主提供出口的汽车产业。虽然2014年罗马尼亚恐怕难以维持这一增长态势,但前景依旧乐观。

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2014.09.23
国家贸易风险及经济研究

企业破产持续上升: 2015年巴西经济有何展望

企业重组及破产持续攀升
巴西商业活动持续低迷、通膨高于政府预期、银行利率位全球最高,种种指标显示巴西的投资者信心仍然低落,低投资率持续恶化。

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2014.09.22
国家贸易风险及经济研究

科法斯季度行业风险调查:涵盖全球三大区域十四个行业

2014年第二季欧元区的经济零增长反映出欧洲经济复苏疲软的事实。然而,根据科法斯的预测,2013年GDP成长虽为-0.4%的负增长,2014年将转...

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2014.09.17
国家贸易风险及经济研究

改革与增长:中国经济所面临的挑战

自今年年初起,中国政府便一直致力于推动多项改革进程,投入不少精力对中国经济结构进行微调整。由于内需增长缓慢,房地产市场依旧疲软,加上部分行业的产能过剩问题尚未解决,中国要实现7.5%的经济增长目标可能性不大。科法斯预计,政策支持力度强于目前的情况下,中国2014年的GDP增速可能为7.4%。

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2014.09.12
产品信息

科法斯集团推出CofaMove应用程序:CofaNet迈向移动新领域

科法斯集团推出全新移动应用程序,让客户可以随时随地使用CofaNet网上平台的重点功能,管理其信用保险合同。该项应用程序将于苹果App Store和谷歌Play Store提供下载。

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2014.08.26
集团讯息

科法斯集团委任黄幸为亚太区行政总裁

科法斯集团委任黄幸先生领导亚太区业务运作及加入集团执行委员会,以继续贯彻集团在亚洲区快速增长的长远目标。

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2014.08.04
产品信息

科法斯推出香港中小企業信用保險服務: EasyLiner, 一個簡單和創新的網上系統,協助中小企防止壞帳

科法斯開發了一項為中小企業量身定制的信用保險方案,保障範圍全面又方便快捷。 EasyLiner提供優質的保障特別切合中小型企業需要,訂購流程簡單,讓企業可以專注於自己的核心業務。

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2014.07.29
集团讯息

塞尔维亚成为科法斯集团第98个提供信用保险服务的市场

科法斯作为全球领先的信用保险公司,正通过与安盛的合作,拓展集团在塞尔维亚的业务。自此,除了商帐追收和商业信息服务以外,科法斯可为塞尔维亚的企业提供全球性的信用保险服务。

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2014.07.29
集团讯息

Results for the first half of 2014: Growth and profitability in line with guidance

Turnover growth of +1.8% on a like-for-like basis
Customer retention rate increased to 92.3% and production of new contracts
up +14%

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2014.07.28
集团讯息

Appointments to the Coface Board of Directors

The Combined General Meeting of Shareholders of COFACE SA, which was held on 2 June 2014, appointed four new independent directors with effect from 1 July 2014, for a term of four year

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2014.07.21
集团讯息

Coface appoints Nicolas Garcia as Group Commercial Director

In this new position, he also becomes a member of the Group Management Board and the Executive Committee.

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2014.07.15
国家贸易风险及经济研究

巴西信用评级降至A4 2015年经济将面临艰困重整

科法斯认为,由于家庭消费增长趋缓、投资动能匮乏及贸易失衡, 2014年巴西经济增长将相当程度放缓(预估2014年1.3%,2013年尚有2.5%);2015年将是巴西的转折点,中期展望经济增长将有所回升。

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2014.06.27
集团讯息

Success of the Coface IPO

"During the IPO, we received a warm welcome from investors, who were particularly receptive to us, both in France and abroad. This makes us proud of the work of our teams around the world to build a solid group, which is profitable and has confirmed growth prospects[...]" Jean-Marc PILLU, Coface Chief Executive Officer

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2014.06.25
国家贸易风险及经济研究

经济复苏力道强劲 英国信用评级调升至A2

2009年金融海啸以來,英国由于家庭消费支出及企业投资大幅下降,相比其他欧洲国家受到更严峻的经济冲击;因此2013年经济增长率达到1.8%的佳绩令英国经济复苏的力道显得格外亮眼。科法斯预测,2014年英国经济增长率将达到2.7%,与美国相当,并超越德国的2%。

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2014.06.25
国家贸易风险及经济研究

The Turkish economy - what to expect in 2014

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector’s external debt stock, already at a record high.

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2014.06.23
国家贸易风险及经济研究

科法斯:西欧及新兴经济体风险有所改善

2014年第一季度全球经济走势回暖:据科法斯预测,涨幅将继2013年的2.6%之后达到3%,并在2015年达到3.3%。

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2014.05.27
国家贸易风险及经济研究

科法斯预测2014年西班牙中小企业破产数量将下跌13%,而法国方面则维持稳定

由于西班牙和法国有着相似的商业活动,两国也同样面对令人担忧的企业破产潮,然而事实上经过2008–2009的金融危机后,两国的中小企业已有了不同程度的变化,本次2014年度的企业破产预测将进一步突显差异。

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2014.05.21
国家贸易风险及经济研究

调查显示亚太地区2013年企业逾期付款状况保持稳定

- 2014年中国经济增长放缓令人关注 -

全球领先的信用保险集团科法斯发布2013年第四季亚太地区企业信用风险管理调查报告。调查显示,该地区企业的付款状况普遍保持稳定。澳大利亚和中国的企业遇到了较多买家逾期付款情况。2014年中国经济增速放缓,令人关注对亚太地区其他经济体可能带来的影响。

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2014.05.09
集团讯息

New Appointments of Coface Commercial Team in Asia Pacific Region

Coface is expanding its commercial organisation in Asia Pacific Region to better serve the multinational clients and bank and financial institutions.

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2014.05.06
国家贸易风险及经济研究

科法斯季度信用风险调查:覆盖全球三大地区的十四个行业

北美及欧洲地区行业风险状况稳定,但亚洲新兴市场行业风险令人关注

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2014.05.05
国家贸易风险及经济研究

亚洲电子产业新规则: 活力毋庸置疑,风险有所增加

随着亚洲成为电子创新的聚焦点,本土公司务必推动生产及研究的国际化。然而,据科法斯观察,随着该地区未付款情况日益增多,产业活力也面临着新的风险。2013年,将近四分之三的电子及IT行业的企业遇到买方逾期付款情况,其中电子零部件及消费电子经销领域尤为明显。

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2014.04.29
国家贸易风险及经济研究

Insolvencies in Central and Eastern Europe 2013: New peak with 70,000 companies affected

Companies in the CEE region faced a challenging year in 2013: The already weak economic situation deteriorated and household consumption decreased due to fiscal measures designed to tackle rising budget deficits. Access to credit was further constrained in line with reduced supply and demand for new loans.

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2014.04.03
国家贸易风险及经济研究

科法斯:继金砖四国后,十个后起之秀

经过十年的疯狂增长,金砖四国经济正在急速放缓:科法斯预测金砖四国2014年经济增长平均为3.2%,远低于四国过去十年的平均增长。但在此同时,其他新兴经济体正在加速发展,其中的“新崛起十国”正仰赖着良好的制造前景及充裕的资金而积极扩张。

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2014.04.02
国家贸易风险及经济研究

国家贸易风险与商务环境评估更新 : 美国是贸易风险最低的国家之一,而主要新兴经济体则陷入困境

发达国家的经济正在复苏(在2013年增长1.2%之后,预测2014年可增长1.9%),科法斯将英国与美国的国家风险评级上调。

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2014.03.04
集团讯息

2013 年度财报

业务发展良好且赔付率有所改善

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2014.02.27
国家贸易风险及经济研究

调查显示2013年中国企业应收账款状况恶化至近三年新高,八成企業表示被客戶逾期還款

- 虽然2014年处于稳定增长状态,但中国的金融市场、影子银行正面临着更大的压力 -

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2014.02.13
集团讯息

科法斯在哥伦比亚成功获发信用保险牌照

集团现于拉丁美洲9个国家设立分公司

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2014.01.23
国家贸易风险及经济研究

2014中国展望:稳定增长但需注意融资风险与产能过剩问题

2014年中国经济的发展并不统一,宏观经济环境与企业发展环境呈现不同的趋势。

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2014.01.21
国家贸易风险及经济研究

2014科法斯国家风险会议:<br>2014年,发达经济体风险趋于利好,新兴市场大国持续紧张状态

发达国家和新兴国家在经历了“后危机时代”的调整后,2014年全球贸易风险开始回归传统的发展模式。

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2014.01.07
国家贸易风险及经济研究

科法斯季度“行业全景报告” - 纺织行业

北美及亚洲市场回暖
纺织行业投入创新,欧洲市场风险趋稳

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2013.12.23
集团讯息

科法斯集团获「最佳信用保险服务商」荣誉

科法斯集团被CFO Innovation Asia 评为「最佳信用保险服务商」公司。CFO Innovation Asia 是专为亚洲及中国地区的企业部门主管和高层财务管理人员而设的网络出版物。

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2013.11.21
集团讯息

中国:经济、产业、人民币及贸易全球化的持续改革

中国第十八届中央委员会第三次全体会议已于11月9日至12日在北京召开。以习近平与李克强为主的中国领导人以此次会议为平台,宣扬其思想及结构性改革蓝图。从中国政府近来发出的讯息及已颁布的政策,我们相信目前的政策和体制最能成功将改革成效向前推进。

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2013.11.12
集团讯息

科法斯 : 2014年欧元区走出萧条阴霾、美国加速增长

经历连续三年的经济缓速增长,科法斯预计2014年全球GDP增长将会提升至3.1%(相较于2013年的2.5%)。增长主要源于欧元区的经济复苏及美国经济的大幅度提升。由于欧美国家经济增长改善,新兴市场在某种程度上因为贸易往来增加而受益。然而,他们中的大多数仍无法完全恢复到金融危机前的增长水平,尤其是那些较大的新兴国家。

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2013.10.17
国家贸易风险及经济研究

科法斯最新国家贸易风险评级: 科法斯对美国商业风险仍然乐观,新兴国家如巴西和泰国的风险需密切关注

整体而言,先进国家表现较好:美国经济成长和商界信心均在恢复;经过两年的衰退,欧元区预估在 2014年将呈现和缓向上的增长趋势 (+1%)。在欧洲经济货币同盟 (Economic and Monetary Union)中,德国预期会有显著的复苏 (1.8%),法国则是缓步增长(0.6%),西班牙和意大利出现经济衰退即将结束的迹象。但是,尽管出现这些改善现象,欧洲商界信心仍未恢复。

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2013.10.16
国家贸易风险及经济研究

科法斯警告:家庭债务水平上升令亚洲新兴经济体风险提升

中产阶级动力提升,亚洲经济持续增长。马来西亚、韩国、新加坡和泰国﹕家庭债务贴近美国次贷危机时期的水平。

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2013.10.08
国家贸易风险及经济研究

科法斯季度「行業全景報告」

科法斯下调化工业、制药业和汽车业的行业风险评估等级。

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2013.09.26
集团讯息

科法斯拓展全球经济师团队网络 - 于香港委任亚太区经济师

科法斯集团经济研究部现于全球主要地区任命经济师,加强对地区性经济的了解以配合集团国际业务发展。

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2013.07.18
国家贸易风险及经济研究

巴西能否走出经济困境?

作为一个典型的新兴国家,巴西成功地抵御了 2009 年经济危机的考验。但四年来,屡见不鲜的抗议示威活动显示其经济增长模式正迈向失败。社会不平等现象虽然正逐步减少,但仍较为严重。 吃紧的劳动力市场和巨大的基础设施差距造成了臭名昭著的“巴西成本”,严重地拖累当地企业绩效。

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2013.07.02
国家贸易风险及经济研究

意大利企业支付货款状况恶化: 反映经济衰退严重

小企业占主导令经济结构脆弱以及公共机构逾期付款規模日益庞大

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2013.06.27
国家贸易风险及经济研究

科法斯国家贸易风险评级更新: 日本,冰岛和爱尔兰等发达经济体状况改善

据科法斯集团最新观察,一些发达经济体情况有所改善。日本新任首相安倍致力推动关于刺激经济活动政策,这些政策至少短期内能帮助日本经济的增长。欧元区成员国之一的爱尔兰经济持续稳定增长,正逐步走出金融危机阴霾。冰岛的经济活动显得异常有活力。另一方面,经济活动紧缩、财务问题,尤其是日益加剧的政治和社会压力导致南非和突尼斯的国家风险持续上升。

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2013.05.15
集团讯息

科法斯大中华区企业付款调查显示: 超过50%的中国大陆企业表示逾期账款增加

- 中国大陆企业对全球及本地经济复兴不太乐观 -
- 台湾企业信用管理表现持续良好 -

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2013.04.24
国家贸易风险及经济研究

欧洲与其它地区在行业风险上的差距愈明显

科法斯集团「行业全景报告」: 14个行业
3大区域:新兴亚洲、北美及欧盟

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2013.04.23
集团讯息

调查显示2012年亚太地区企业逾期账款拖欠情况恶化

- 企业对2013年全球经济复苏持不容乐观态度 -

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2013.03.26
国家贸易风险及经济研究

新兴国家风险再度浮现:马来西亚、泰国、韩国、中国与台湾信用泡沫化风险激增

新兴国家在2013年估计有5.1%的经济增长,而且主权与外在基本面也有所改善,但新兴国家的风险尚未完全消失,只是形式 发生了改变。新兴市场目前面临三个主要风险。在政治方面,紧张的局势加剧,如北非与中东 存在政治抗争活动,如今抗议也蔓延至俄罗斯与印度。在经济方面,保护主义逐渐抬头。在金 融方面,很多新兴经济体,特别是在亚洲,银行对私有企业的贷款放宽速度过快,埋下了信用泡沫化的隐患。

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2013.03.07
集团讯息

科法斯加强与阿迪拉合作,深度拓展印度尼西亚业务

自2008年起,科法斯集团协助阿迪拉保险集团(Adira)为印度尼西亚企业提供贸易信用保险服务。为了更好地支持阿迪拉提升印度尼西亚地区贸易信用管理水平,科法斯集团于2013年2月正式在雅加达设立代表处。

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2013.03.04
集团讯息

欧债危机下,科法斯集团2012业务仍获得增长

欧债危机下,科法斯集团2012业务仍获得增长

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2013.01.28
国家贸易风险及经济研究

2013 国家贸易风险论坛:欧债危机结束仍言之过早 欧元区增长-0.1 % 、 美国1.5% ; 日本列负面观察名单

透过每天与全球企业的密切往来与观察,科法斯集团表示其对2013年的全球经济趋势,仍持以谨慎保守的态度。先进国家的复苏继续受困于公共与民间的债务问题。此外,由于欧洲的劳动市场持续恶化及政府机构改革尚未完成,以致于家庭和企业迟迟未恢复信心。而在美国,预算政策前景不明也影响到其成长。科法斯集团预测南欧地区经济活动不断萎缩,欧元区将持续衰退,预估成长率为-0.1 %。美国经济增长率则放缓至1.5%。反观新兴国家则呈现健康且持续性的成长,预估成长率为5.2%。

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2013.01.22
集团讯息

科法斯集团打造新品牌标志

彰显重新定位策略的成功

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