China Export & Credit Insurance Corporation (“ Sinosure” in short) is a state-funded policy-oriented insurance company established and supported by the state to promote China’s foreign economic and trade development and cooperation. With the independent legal person status, it was officially operated on December 18, 2001 and its service network covers the whole country.
[Founded Time]
On December 18, 2001.
[Business]
The main products and services include: medium and long-term export credit insurance, overseas investment insurance, short-term export credit insurance, domestic trade credit insurance, bonds & guarantees related to export credit insurance, accounts receivable management, and information consultation.
Its credit information database covers more than 10 million companies, more than 40,000 banks and more than 800 industries in the world, and it has about 150 domestic and foreign information channels. Its credit reporting and recovery channels cover more than 200 countries and regions. As of the end of 2017, the cumulative domestic and foreign trade and investment supported by Sinosure exceeded US 3.3 trillion; the accumulated number of customers served was 110,000; and claims paid had amounted to US 10.8 billion. Sinosure had also cooperated with more than 200 banks to facilitate export finance, and helped export companies obtain loans of over RMB 3 trillion.
[Background]
Sinosure is mandated, in accordance with the Chinese government's diplomatic, international trade, industrial, fiscal and financial policies, to promote Chinese exports of goods, technologies and service, especially high-tech and high value-added capital goods like electromechanical products, and national enterprises’ overseas investment, by means of export credit insurance against non-payment risks.
