Abstract: Export credit insurance, supported with national finance by governments, is a special policy which provides protection against risks for enterprises in economic activities such as exporting, investing abroad and foreign project contracting. The failure of investment in Libya fully revealed the incoordination in the overall design of Chinese enterprises’ “going out” strategy and lack of a cooperative system. The legislation of export credit insurance should not only seek huge oversea investment especially in respect of devising the centralized management with specialized departments for state--owned enterprises’ oversea investment and financial risks, but also ensure that the credit insurance company, based on its own state--owned properties, copes with its own financial risks so that it can have long--term operation. We should draw lessons from the related legislation in other countries, and build an organizational structure for the insurance company. The appropriate specialized department with centralized management is China Investment Corporation. Meanwhile, the author suggests establishing an “oversea investment supervision bureau” to supervise oversea investment and relevant organizations.

Key words: export credit insurance, financial risks and supervision, oversea investment supervision bureau