China Export & Credit Insurance Corporation (CEIC) is a state-owned policy insurance company funded by the state to support China's foreign economic and trade development and cooperation, and has the status of an independent legal person, providing insurance and other services for foreign trade and foreign investment cooperation
China Export & Credit Insurance Corporation (hereinafter referred to as "Sinosure") is a state-owned policy insurance company funded by the state to support China's foreign economic and trade development and cooperation, with the status of an independent legal person, established on December 18, 2001, and has formed a nationwide service network. The company's business purpose is: "to promote the development of foreign economic relations and trade by providing insurance and other services for foreign trade and foreign investment cooperation, focusing on supporting the export of goods, technologies and services, especially the export of capital goods such as high-tech and value-added mechanical and electrical products, and promoting economic growth, employment and balance of payments".
SINOSURE's business scope includes: medium and long-term export credit insurance business; Overseas investment insurance business; short-term export credit insurance business; domestic credit insurance business; credit guarantee business and reinsurance business related to export credit insurance; Accounts receivable management and other export credit insurance services and information consulting business; the use of insurance funds; Other business as approved. SINOSURE has also launched the "Credit Insurance Pass" e-commerce platform and the insurance platform for small and micro enterprises with multiple service functions to the market, so that customers can enjoy more efficient online services.
Since the establishment of the company, the role of export credit insurance in supporting China's foreign economic and trade has become increasingly apparent. Especially during the international financial crisis, export credit insurance gave full play to the leverage role of stabilizing foreign demand and promoting export transactions, helped the vast number of foreign economic and trade enterprises to solve the problems of "not daring to accept orders" and "unable to accept orders", and played an important role in "grabbing orders and protecting the market". By the end of 2016, SINOSURE had supported more than US$2.8 trillion in domestic and foreign trade and investment, provided export credit insurance services for tens of thousands of export enterprises, and provided insurance support for hundreds of medium and long-term projects, including high-tech export projects, large-scale mechanical and electrical products and complete sets of equipment export projects, large-scale foreign engineering contracting projects, etc., and paid a total of US$9.48 billion in compensation to enterprises. At the same time, SINOSURE has also led 233 banks to raise more than 2.7 trillion yuan for export enterprises.
SINOSURE will strive to become a policy-based insurance company with clear positioning, clear business, outstanding functions, sufficient solvency, standardized governance, strict internal control, safe operation and sustainable development capabilities. SINOSURE will focus on serving the national strategy and play a more important policy role in supporting China's foreign economic and trade development, implementing the "going out" strategy, ensuring national economic security, and promoting economic growth, employment and balance of payments by providing policy-based insurance services.
