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China: COVID-19 places $122bn of trade exposure at risk

Source: Asia Insurance Review | Apr 2020

The effects of the coronavirus on trade are gradually being seen among Chinese companies according to findings from risk-modelling firm Russell Group.
A scenario model discovered that the top 10 highest-earning Chinese companies with combined revenues of almost $1.5tn will be exposed to an estimated $122bn of connected-loss exposures from the pandemic this financial quarter.
Petroleum companies appear to face the largest exposures with the China National Petroleum Corporation topping the chart of Chinese companies with the largest exposure at $29bn.
However, other industries are affected as well with Huawei’s combined exposure across different parts of its business amounting to $16bn and Apple China’s loss exposure coming up to $3bn alone. A 
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