China Export & Credit Insurance Corporation (hereinafter referred to as “SINOSURE”) is a state-funded and policy-oriented insurance company established and supported by the state to promote China’s foreign economic and trade development and cooperation. As an independent legal person, SINOSURE was officially launched and put into operation on December 18, 2001, whose service network now covers the whole country.
By means of export credit insurance against non-payment risks for China’s foreign trade and investment cooperation, SINOSURE promotes Chinese exports of goods, technologies and services, especially the exporting of high-tech and high-value-added capital products such as mechanical and electrical products. In this way, the company further supports economic growth, employment, and international balance of payments. SINOSURE’s 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 and reinsurance related to export credit insurance, accounts receivable management, and information consultation services.
Taking “performing policy functions and serving open economy” as its own responsibility, SINOSURE effectively serves for national strategies, accurately supports the development of enterprises and ensures financial sustainability. The company actively expands its coverage of export credit insurance and plays an irreplaceable role in supporting the construction of the Belt and Road Initiative (BRI), promoting a steady and quality growth of foreign trade, cultivating new edges for international economic cooperation and competition, and accelerating the optimization of economic structure.
Focusing on the area of credit risk management, SINOSURE has established the Country Risk Research Center and the Credit Rating Center. Its credit information database covers more than 70 million Chinese enterprises, over 200 million overseas companies and 45,000 banks. SINOSURE also has more than 400 information channels home and abroad, whose credit reporting and recovery business cover all countries and regions and major sectors across the globe. As of the end of 2019, SINOSURE had accumulatively supported more than USD 4.6 trillion of domestic and foreign trade and investment, provided credit insurance-related services for over 160,000 enterprises, paid a total of USD 14.2 billion claims and facilitated 200+ banks offering more than RMB 3.6 trillion of financing for exporters. According to the statistics of Berne Union, since ever 2015, the total insured amount of SINOSURE has been continuously ranking top among ECA members.
SINOSURE, a policy-oriented financial institution established to meet the demands of economic globalization and the development of China’s foreign economy and trade, will closely focus on the goal of serving the national strategies. Guided by the policy and centered on customers, SINOSURE will strive to build the company into a more responsible and reliable credit risk management institution that enjoys global impacts, making greater and new contributions to China’s new round of high-level opening up.