China Export and Credit Insurance Corporation (Sinosure) has chosen the Dubai International Financial Centre (DIFC) as the location for its first office 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 is the first China-based insurer to open a regional office at the DIFC, through which it plans to further support China’s Belt & Road Initiative.
As a group, Sinosure writes short, medium and long-term export credit insurance, foreign investment insurance, domestic trade credit insurance, bonds, guarantees and reinsurance related to export credit insurance, accounts receivable management, information consulting services among others.
“We extend our congratulations to SINOSURE for successfully 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,” said Arif Amiri, CEO of DIFC Authority.
“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 bi-lateral 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.”
Song Shuguang, Chairman of Sinosure, also commented: “It’s a great delight for SINOSURE to witness the establishment of Dubai Office in DIFC on the 20th anniversary of the founding of our company. 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.”