BUSINESS SINOSURE reports steady insurance growth as China's overseas investment advances

BUSINESS

SINOSURE reports steady insurance growth as China's overseas investment advances

Xinhua

16:58, February 14, 2019

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Technicians check trains at a Turkish firm in Ankara, which is in partnership with China Railroad Rolling Stock Corp. (Photo: Xinhua)

BEIJING, Feb. 14 (Xinhua) -- China Export & Credit Insurance Corporation, also known as SINOSURE, reported steady business growth as the country's overseas investment advanced last year.

Insurance for overseas investment totaled 58.13 billion U.S. dollars last year, up 18.9 percent year on year, according to SINOSURE, China's only policy-oriented insurer specializing in export credit insurance.

The company last year served projects ranging from oil and gas and mining to transport infrastructure in 84 countries and regions.

Official data showed that China's outbound investment expanded 4.2 percent year on year to reach 129.83 billion dollars in 2018. Overseas contract projects reported 169.04 billion dollars in turnover and created 842,000 local jobs.

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