The China Insurance Regulatory Commission (CIRC) urged the China Export and Credit Insurance Corporation (Sinosure), China's only policy-oriented insurance company, to continue implementing export credit insurance policies so as to support the country's foreign trade.
The CIRC chairman Wu Dingfu made the remark at Sinosure's annual work conference on Monday.
Wu said that the export credit insurance should coordinate with the country's economic development pattern reforms and meet the demand of the exporters.
Sinosure provided 116.6 billion US dollars of credit insurance and guarantee business in 2009, an increase of 85.8 percent year on year. It realized premiums of 990 million US dollars, 1.98 times that in 2008. Its profits hit 203 billion yuan.
Export credit insurance business covered 18.6 percent of China's exports in 2009, rising from the 6.5 percent in 2008.
Source:http://insurancenewsnet.com