SINOSURE becomes 1st Chinese insurer to open regional office at DIFC

China Export and Credit Insurance Corporation, SINOSURE, has opened it regional office at the Dubai International Financial Centre (DIFC), the first in the Middle East.

SINOSURE is a state-funded and policy-oriented insurance company established to promote China’s foreign economic, trade development and cooperation on a non-profit basis. It had accumulatively supported more than US$5.3 trillion of domestic and foreign trade and investment, provided credit insurance-related services for over 210,000 enterprises and facilitated nearly 300 banks offering more than RMB 3.9 trillion of financing for exporters, as of the end 2020.

Since 2015, SINOSURE has maintained a top ranking amongst Export Credit Agencies based on the total insured amount, according to the Berne Union (the leading global association for export credit and investment insurers).

With its new regional headquarters, SINOSURE aims to further support China’s national Belt and Road initiative, and other interests, as well as promoting the development of China’s foreign trade and investment.

Commenting on the announcement, Arif Amiri, CEO of DIFC, said,

"We extend our congratulations to SINOSURE for completing 20 years and for choosing DIFC for its first office in the region, which is a testament to Dubai’s position as the leading hub for business and trade in the Middle East, Africa and South Asia.

"DIFC has a well-established reputation as an ideal base for leading Chinese companies and SINOSURE strengthens this. Their collective presence is underpinned by the strong bilateral relations between the UAE and China and we are focused on helping them grow in this region, which is home to a number of the world’s fastest-growing markets."

In turn, SONG Shuguang, Chairman of SINOSURE, said that SINOSURE’s presence in DIFC reaffirms

"our commitment to increasing trade and investment opportunities for Chinese companies across the Middle East and South Asia. Dubai is the ideal ecosystem for Chinese businesses looking to expand in the region and we are confident that our presence at DIFC will unlock a vast array of opportunities and drive value for ourselves and our stakeholders."

News Source: https://www.wam.ae/en/details/1395302947500