Sinosure – January to May 2021: Essential News and Statistics

Sinosure has started the initial five months of 2021 with significant achievements for both domestic companies located in China, and companies who trade with Chinese suppliers from around the globe. It has greatly augmented the support it offers to the real economy. In this article, we have put together some of the critical statistics you require on the Sinosure corporation in these initial five months of 2021.

Sinosure has been backing the enhancement of foreign trade and collaboration for countries across the globe. It has been bridging the gap between international companies and Chinese exporters for 20 years and has hugely boosted trade during the beginning of 2021. It helps to achieve such cohesion and cooperation by offering Chinese trading partners insurance guarantees for trade credits that they offer to foreign importers.

The state-owned insurance organisation, and the head of Sinosure, have reported that during the early half of 2021, the Sinosure corporation has backed and indemnified exports for countries that are part of the Belt and Road Initiative (BRI), reaching a total of 60.89 billion USD. The amount has increased yearly – equating to a 24.9% yearly increase.

The Belt and Road Initiative itself is a strategic move, the objective of which is to create the required infrastructure to connect China with Asia, Europe and Oceana and invest in more than 100 countries through trade. Sinosure's mission is to support the initiative and small businesses, and it has been benefitting BRI countries such as Singapore, significantly.

In these first five months of 2021, Sinosure has also backed and assisted small and micro companies in terms of their exports – exports worth 42.39 billion USD. It has provided its services to approximately 111,000 enterprises and has also been the backbone of national trade that equates to 204.23 billion CNY (Yuan) – (an annual, yearly increase of 45.2%).

One of Sinosure's main products, which makes favourable domestic/national trade terms more than possible is its domestic trade credit insurance.

But Sinosure's contribution to trade can be seen in other ways as well. In terms of corporate financing, for example, the state-owned insurance corporation has also shown its support to the tune of 108.91 billion CNY (Yuan) – which is an annual, yearly increase of 13.8%.

Its support in this early period of 2021 has not only reached the equivalent of a cumulative insurance value of 314.63 billion USD, but it has also seen significant increases year-over-year that amount to 28.0% and has supported 139,000 clients. During this period, it has also noted a yearly increase in terms of the guarantees/indemnities it offers amounting to 16.3% each year, offering 530 million USD to clients.

Sinosure has paved the way for export credit terms to be granted to a range of companies by way of insurance guarantees, or indemnification. In countries across Europe, Asia, the Middle East and the United States, companies are all beginning to benefit from remarkable trading conditions. They are being granted exceptional trade credits from their Chinese suppliers, all of which has been made possible by Sinosure's guarantees.

Source: China Export Credit Insurance Corporation

If you are a company looking to benefit from trade credits backed by Sinosure guarantees, find out how Axton Global's consulting services can make this process much simpler. Book a consultation and discover more information on Sinosure at Axton Global's blog.

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