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Sinosure provides insurance services worth over $ 200 billion to Chinese business in Africa

By Qiang Meijuan (People's Daily Online)    13:36, August 30, 2018


Latest statistics provided by the China Export & Credit Insurance Corporation, also known as Sinosure, shows that the company had provided insurance services worth $233.37 billion to Chinese businesses in Africa by the end of July this year, China news reported on August 21.

According to the statistics, services provided by Sinosure have covered a variety of fields including railway, highway, electricity, minerals, telecommunications, petroleum, agriculture and machinery, while the cumulative payment of claims has now reached $2.23 billion.

As the only policy insurance company in China, Sinosure has provided professional services for many cooperative infrastructure projects in Africa, including the Maputo Bridge in Mozambique, Caculo Cabaca Hydropower Project in Angola, and the Transmission Line Project for Upgrading of the Egyptian National Grid.

Sinosure also dispelled the worries of many Chinese companies in regards to problems faced by agricultural cooperatives in Africa, such as poor investment environment and changeable policies.

Wang Yi, chairman of Sinosure, explained that Africa is an important area for Chinese enterprises in foreign trade and economic cooperation, and Sinosure will give full play to its professional services to help Chinese companies take root in Africa and bring benefits to local people.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Hongyu)

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