China Export Credit Insurance Corporation's Johannesburg Officially Registers Representative Office

by Axton Global
On December 3, 2020 local time, China Export & Credit Insurance Corporation's Johannesburg representative office successfully completed the registration in South Africa, becoming the first representative office of Sinosure in Africa and the second overseas representative office.

As China's official export credit agency, China Export & Credit Insurance Corporation closely focuses on national diplomacy and foreign trade development strategies. It also supports the joint construction of the "Belt and Road", international production capacity and equipment manufacturing cooperation while providing strong risk guarantees and financing facilities for Chinese-funded enterprises to "go global".

In recent years, Sinosure has been committed to strengthening overseas institutions and building a global service network aid in China's foreign trade and economic cooperation. In addition to the representative office in Johannesburg, Sinosure has a representative office in London and five working groups in Dubai, Sao Paulo, Moscow, Jakarta and Cairo.

According to the "Development Plan for Sinosure Overseas Institutions", Sinosure will continue to operate from 2020 and upgrade each working group to a representative office.

SINOSURE sent a team to South Africa in 2014, and its service scope radiates to sub-Saharan Africa. As the predecessor of the representative office in Johannesburg, the South African working group has been an important overseas reach and support for China Credit Insurance for 6 years.

It effectively leverages its first-line advantages, serving non-Chinese-funded enterprises, contacting local partners, and promoting the company's cooperation with important institutions in many African countries.

Established cooperative relations and signed cooperation agreements helped the company to underwrite a series of significant projects such as the Mombasa-Nairobi Railway and South Africa's Telkom local currency financing, while making positive contributions to the promotion of China-Africa economic and trade, financial cooperation and other fields.

After establishing the SINOSURE South Africa representative office, the company will continue to cover the markets of 26 countries in Southeast Africa, follow the "Belt and Road" initiative and the China-Africa cooperation. It will also further assist in the promotion of SINOSURE's business development, project promotion, risk monitoring and monitoring in Southeast Africa.

Sinosure also aims to improve customer service for boosting its overseas service capabilities, policy functions, and promote high standards Opening up to the outside world will further open up the international cycle and better connect the domestic Chinese market with the international market.

As the only policy insurance company in China that specializes in export credit insurance business, Sinosure has been actively serving the national strategy, earnestly fulfilling its policy functions. It is committed to supporting China's foreign economic and trade development and cooperation under the guidance of the Chinese government.

As of the end of 2019, China Credit Insurance has supported domestic and foreign trade and investment in excess of 4.6 trillion U.S. dollars, provided credit insurance and related services to more than 160,000 companies. The company also paid 14.16 billion U.S. Dollars in compensation to companies, and drove more than 200 banks, financing more than 3.6 trillion yuan for export companies.

According to the statistics of the Berne Institute, since 2015, China's credit insurance business has continuously ranked first in the world's official export credit insurance institutions.

Source: China Export Credit Insurance Corporation

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