Chinese export insurer scales up support for foreign trade

BEIJING -- China Export & Credit Insurance Corporation (Sinosure) stepped up efforts to boost the country's foreign trade in 2022, data from the company showed on Saturday.

The insurer handled underwriting totaling $899.58 billion for insured businesses throughout the year, serving over 170,000 clients, it said.

Of the total, $745.16 billion was short-term export credit insurance, up 10.2 percent year-on-year.

The underwriting for small and medium-sized enterprises amounted to 226.78 billion dollars, a 15.7 percent increase from a year earlier, according to Sinosure.

The company added that it also increased insurance support to stabilize industrial and supply chains, nurture new business models, and boost services exports.

Sinosure is a state-funded and policy-oriented insurance company that promotes China's foreign economic and trade development and cooperation. It was officially launched and put into operation in 2001, and its service network now covers the whole country.