SINOSURE reports steady business growth

(Xinhua, Beijing, 27 October 2019) China's only policy-oriented insurer specializing in export credit insurance reported steady business growth in the first three quarters of this year. China Export & Credit Insurance Corporation, also known as SINOSURE, had served over 110,000 clients, increasing 13.8% year on year, and underwritten over US$450 billion worth of business from Jan. to Sept. In that period, over US$99.2 billion was insured for business in countries participating in the Belt and Road Initiative (BRI). Meanwhile, the company's insurance for business in emerging markets and exports from small and micro enterprises respectively stood at US$179.6 billion and US$49.9 billion U.S. dollars. An assessment report released by the Development Research Center of the State Council and SINOSURE showed that over US$150 billion of China's exports and investment in Belt and Road countries were insured by the company in 2018, surging 15.8% from the previous year. It was estimated that over US$640 billion of China's exports last year were underwritten by SINOSURE, accounting for 25.9% of the total exports.