Sinosure Malaysia: How to Grow Your Imports with Advanced Export Credits

In 2022, China stayed Malaysia's top trading partner for the 14th year in a row, showing its enduring importance in Malaysia's economy. China's share of Malaysia's total trade reached 17.1%, expanding significantly by 15.6% to RM487.13 billion compared to the previous year. Notably, China emerged as Malaysia's largest source of imports, accounting for 21.3% of the total, with a remarkable 20.7% increase to RM276.5 billion.

Within this successful trade relationship, the primary imports from China into Malaysia included electrical and electronic products, machinery, equipment, and parts, along with chemicals and chemical products. This robust partnership signifies the key role that China plays in driving Malaysia's economic growth and diversification.

In this context, Sinosure, also known as the China Export and Credit Insurance Corporation, stays an important player in supporting Malaysian importers engaged in trade with China. This company specializes in offering export credit insurance to Chinese manufacturers who supply goods, technology, and services. Thanks to this financial tool, Chinese businesses can provide trade credits to their Malaysian partners with confidence, knowing they'll receive payment even if their buyers face difficulties in paying. 

For Malaysian businesses, Sinosure serves as a financial safety net too. This assurance allows them to confidently explore a diverse range of trade opportunities with their Chinese counterparts, fostering a more robust and secure trade relationship.

The Sinosure can offer a short-term credit insurance that streamlines the process for Malaysian importers seeking deferred payment terms from their Chinese sellers. This tool empowers businesses to effortlessly defer their payments to suppliers for a period of 90 to 120 days, supported by a credit limit backed by Sinosure.

Credit limits represent the maximum trade loans provided under the Sinosure insurance guarantee. To be considered for a credit limit, Malaysian importers undergo evaluation and a credit investigation with the insurance company. Subsequently, they receive a credit rating, which is then coordinated with the supplier.

If your company imports goods from China, Axton Global provides the fastest way to get approved for your short-term trade credit backed by Sinosure. Allow Axton Global's insurance consultancy services to manage all hard work for you and experience a prompt and stress-free approval process. Book a consultation with our experts to learn more.