China Export & Credit Insurance Corporation: A Pillar for Foreign Trade Growth
In the vast ocean of global trade, China Export & Credit Insurance Corporation (Sinosure), a state - owned policy - based insurer, stands as a mighty lighthouse, guiding Chinese foreign - trade enterprises through stormy seas. Established to fuel China's foreign economic and trade development, Sinosure has been a key player in implementing national strategies and serving the real economy, with 2024 being a year of extraordinary brilliance.
2024: A Year of Stellar Performance
The year 2024 witnessed Sinosure's insured amount soaring past 1021.4 billion US dollars, a remarkable 10% year - on - year surge. The payment of indemnities climbed to over 2.58 billion US dollars, up 11.7%, while the number of served and supported customers exceeded 227,000, a 12.4% increase. These eye - catching double - digit growth figures in key business indicators vividly demonstrate the vibrant energy infused into China's foreign trade by policy - based export credit insurance.
Policy - Based Might in Full Swing
Confronted with a complex and challenging external landscape, Sinosure sprang into action, wholeheartedly executing the decisions of the CPC Central Committee and the State Council. The export credit insurance coverage expanded dramatically, accelerating the release of policy benefits. In 2024, export credit insurance found its way into dozens of national and local policy documents, spanning diverse sectors like cross - border e - commerce and service trade.
The substantial leap in short - term export credit insurance limit applications, both in volume and value, mirrored the stable expansion of foreign - trade enterprises' export business scale and their intense drive to explore overseas markets.
Targeted Support for Vital Sectors
Sinosure's focus on emerging markets and new foreign trade models delivered high - quality financial services, propelling high - level opening up and high - quality development. It backed over 450 billion US dollars in exports across 11 key industrial chains, including electronics, exceeding half of the short - term export credit insurance underwriting amount. The company also vigorously supported enterprises in tapping into diversified international markets, with exports to Latin America, ASEAN, and Africa surging by 25.6%, 17.4%, and 35.9% respectively. In the green development arena, Sinosure rolled out a green finance strategy, channeling support to green trade and projects worth 6.056 billion US dollars.
Innovation: The Engine of Progress
Sinosure's innovative endeavors stole the spotlight in 2024. At the Global Banking & Markets 2024 Awards in Istanbul, Turkey, the Kazakhstan Soda Plant project, backed by Sinosure, clinched two top honors. This triumph epitomized Sinosure's relentless pursuit of product and service model innovation.
For short - term export credit insurance, Sinosure rolled out a slew of trailblazing measures. The "cross - border e - commerce + supplier" underwriting model in Nanjing, Jiangsu, and the first - ever provincial cross - border e - commerce export political risk unified insurance platform policy in Zhengzhou, Henan, propelled cross - border e - commerce exports to surge by over 40%.
Looking ahead, China Export & Credit Insurance Corporation remains resolute in implementing the decisions of the CPC Central Committee and the State Council. With unshakeable confidence and a trailblazing spirit, Sinosure will fully harness its policy - based financial institution functions, contributing to the high - quality development of China's foreign trade and inscribing a glorious new chapter in the practice of Chinese - style modernization in the credit insurance sector.
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