China Export & Credit Insurance Corporation (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 entity, SINOSURE was officially launched and put into operation on December 18, 2001, and now its service network covers the whole country of China.
By providing insurance services for foreign trade and investment cooperation, SINOSURE promotes foreign economic and trade development, and focuses on Chinese exports of goods, technologies and services, especially the exports 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.
Dedicating to "performing policy functions and serving open economy", 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, stabilizing industrial chains and supply chains, and accelerating the optimization of economic structure.
Focusing on credit risk management, SINOSURE has established the Country Risk Research Center and the Credit Rating Center. Its credit information database covers more than 320 million global enterprises and banks. SINOSURE also has more than 400 information channels at home and abroad, whose credit reporting and recovery business covers all countries and regions and major sectors across the globe. As of the end of 2021, SINOSURE had accumulatively supported more than USD 6.16 trillion of domestic and foreign trade and investment, provided credit insurance-related services for over 240,000 enterprises, paid a total of USD 17.848 billion claims and facilitated nearly 300 banks offering more than RMB 4 trillion of financing for exporters. According to the statistics of the Berne Union, since 2015, the total insured amount of SINOSURE has been continuously ranking top among ECA members.
SINOSURE issued the Guiding Opinions on Stepping up Green Finance Development and the Opinions on the Accurate and Comprehensive Implementation of the New Development Philosophy, Carbon Peaking and Carbon Neutrality, strengthened the top-level design for green finance development, and improved the long-term mechanism for green finance operations. It established a working group for green finance development led by Chairman Song Shuguang to strengthen organizational support and overall coordination for green finance development. It incorporated green finance development and green development transformation into the top-level institutional arrangements such as the 14th Five-Year Plan, the reform action plan, and the guidance for supporting the formation of new development pattern, which consistently enhanced its green financial service capacity.
Supporting COSCO Shipping Heavy Industry to secure the high-end wind power installation ship project of Denmark CADELER