Sinosure Launches Insurance Policy Financing

China Export & Credit Insurance Corp. (Sinosure) has established insurance policy financing platforms in Guangzhou and Shanghai, from which more small- and medium-sized companies will benefit.

Insurance policy financing indicates that companies that buy short-term export credit insurance from Sinosure could gain certain loans from concerned banks. In order to reduce burden of those companies, the sole Chinese policy-oriented export credit insurance provider not only reduces premium of related insurance but also has reached an agreement with banks to reduce the cost of such financing.

It launched a one-stop risk-avoiding service platform in Guangdong Province and hundreds of small- and medium- companies have benefited. In Shanghai, it reached an agreement with eight banks and statistics show that the loans companies gained from banks via the platform in the city reached CNY 1.5 billion during July and October. The figure in Zhejiang Province hit about CNY 5 billion in the first ten months of this year.