China Export & Credit Insurance Corporation(SINOSURE) is a state-controlled financial institution established in 2001 and based in Beijing, China. It is the only organization providing commercial export credit insurance in China, and the majority shareholder is the Ministry of Finance.
SINOSUREs mission is to provide credit risk cover for export transactions involving Chinese commercial and contractual entities in foreign countries. It offers various insurance products and services, including single or multiple buyer transaction cover, advance payment cover, inventory cover, foreign investment cover and political risk cover.
The core of SINOSUREs business is to provide credit risk cover for Chinese exporters, giving them the opportunity to increase their international sales without fear of non-payment by importers. This can be achieved either through pre-shipment cover, post-shipment cover or a combination of both.
Products and services provided by SINOSURE are designed to protect Chinese exporters from high-risk transactions with foreign importers who may be affected by political, economic and commercial risks. SINOSUREs services also extend to foreign importers, and offer them protection if the Chinese exporter is unable to pay due to insolvency or political reasons.
SINOSURE works closely with the Chinese banking system, and provides an invaluable service to exporters by mitigating credit risk and encouraging more business with international partners. By providing insurers with relevant information and valid claims assessment, SINOSURE helps to facilitate international trade and boost the growth of the Chinese export industry.
In addition, SINOSURE also assists in credit guarantee, advocating overseas buyers to buy from Chinese suppliers, and encourages Chinese supplier to develop long-term business relationship with importers.
SINOSURE is a reliable credit risk cover provider and plays an important role in China’s export industry. It works to minimize the risk associated with trading for Chinese exporters, and provides insurance to foreign importers when dealing with Chinese suppliers. The services it provides help to grow the export industry in China, create healthy international business relationships, and helps build trust between buyers and sellers from different countries.
