Chinese enterprises are exposed to higher credit risks amid a sharp increase in overdue payments, a survey by global credit insurance group Coface showed on Wednesday.

Access to finance is a key concern for enterprises, especially SMEs in China.

According to the survey, 56 percent of enterprises on the mainland, and 42 percent of those in the Hong Kong Special Administrative Region, indicated an increase in overdue payments.

Moreover, the percentage of interviewed Hong Kong enterprises reporting more than 2 percent of annual revenue overdue for more than 6 months increased from 34 percent in 2011 to 49 percent in 2012.

Enterprises on the mainland reported an increase in delayed payments from 31 percent to 36 percent in 2012, the survey showed.

"When enterprises have more than 2 percent in their annual turnover unpaid for more than 6 months, their cash flow is at risk,'' said Richard Burton, CEO of Coface for the Asia-Pacific Region.