BRI NEWS Chinese export insurance company reports steady business growth

BRI NEWS

Chinese export insurance company reports steady business growth

Xinhua

13:41, October 27, 2019

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Photo: VCG

BEIJING, Oct. 27 (Xinhua) -- 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 percent year on year, and underwritten over 450 billion U.S. dollars worth of business from Jan. to Sept.

In that period, over 99.2 billion U.S. dollars 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 179.6 billion and 49.9 billion U.S. dollars.

An assessment report released by the Development Research Center of the State Council and SINOSURE showed that over 150 billion U.S. dollars of China's exports and investment in Belt and Road countries were insured by the company in 2018, surging 15.8 percent from the previous year.

It was estimated that over 640 billion U.S. dollars of China's exports last year were underwritten by SINOSURE, accounting for 25.9 percent of the total exports. 

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