China Export and Credit Insurance Corporation, SINOSURE has opened its first regional office at the Dubai International Financial Centre (DIFC), the leading global financial center and innovation hub in the Middle East, Africa and South Asia (MEASA) region.
SINOSURE is a state-funded and policy-oriented insurance company established to promote China’s foreign economic, trade development and cooperation on a non-profit basis. It had accumulatively supported over $5.3 trillion of domestic and foreign trade and investment, provided credit insurance-related services for more than 210,000 enterprises and facilitated nearly 300 banks offering more than $0.6 trillion of financing for exporters, as of the end of 2020.
The insurer has maintained a top ranking amongst Export Credit Agencies based on the total insured amount, according to the Berne Union (the leading global association for export credit and investment insurers).
With its new regional headquarters, SINOSURE aims to further support China’s national Belt and Road initiative, and other interests, as well as promoting the development of China’s foreign trade and investment.
SINOSURE as a Group writes short, medium and long-term export credit insurance, foreign investment insurance, domestic trade credit insurance, bonds, guarantees and reinsurance related to export credit insurance, accounts receivable management, information consulting services among others.
“DIFC has a well-established reputation as an ideal base for leading Chinese companies and SINOSURE strengthens this. Their collective presence is underpinned by the strong bilateral relations between the UAE and China and we are focused on helping them grow in this region, which is home to a number of the world’s fastest-growing markets.”
“SINOSURE’s presence in DIFC reaffirms our commitment to increasing trade and investment opportunities for Chinese companies across the Middle East and South Asia. Dubai is the ideal ecosystem for Chinese businesses looking to expand in the region and we are confident that our presence at DIFC will unlock a vast array of opportunities and drive value for ourselves and our stakeholders,” Mr. Song Shuguang, Chairman of SINOSURE, stated.