China Export & Credit Insurance Corporation, commonly known as Sinosure , is a major Chinese state owned enterprise (SOE) under the administration of Ministry of Finance of the People's Republic of China serving as the provider of export credit insurance, in particular coverage for the export of high-value added goods in China.
History
Sinosure was established in December 2001[1] by merging the Export Credit Insurance Department of the People's Insurance Company of China (PICC) and the export credit insurance section of the China Export and Import Bank. Following China's entry into the World Trade Organization, Sinosure was mandated to support Chinese companies' export and overseas business.[1] Financing since 2001 has totaled 290 billion dollars' worth of exports and investments, and 570 billion yuan of lending.[2]
In 2009, the company insured 116 billion dollars' worth of exports.[3]