Wison Group Holding Limited, a diversified group company focusing on energy and chemical services, signed a comprehensive strategic cooperation agreement with the Shanghai Branch of China Export & Credit Insurance Corporation, which is a state-funded policy-oriented insurance company to promote China's foreign economic and trade development and cooperation.
Sinosure will provide Wison with comprehensive credit insurance and credit management services, including medium and long-term export credit insurance, short-term export credit insurance, buyer default insurance, credit management, credit investigation, business consulting and so on.
Based on Wison's unique advantages in energy and chemical integration solutions, the cooperation will provide the support of "Technical & Financing" for its customers and boost development of Chinese energy and engineering enterprises in overseas market, especially countries participating in the Belt and Road Initiative. During this period of cooperation, both sides will attempt to achieve an overall scale of bilateral business cooperation in export credit insurance that exceeds $10 billion.
In order to fulfill the spirit of the 19th CPC National Congress and the second and third Plenary Session of the 19th CPC Central Committee, meet the conditions of the Central Economic Working Conference and the National Conference on Financial Work, and handle the construction of the Belt and Road Initiative to promote Chinese enterprises to "go global", Sinosure will give full access to its resources and advantages in export credit insurance, and fully support the development of Wison in overseas engineering, procurement and construction, LNG industrial chain solutions and module fabrication, overseas investment and other business areas, and reduce the risk of foreign exchange collection. Both sides will adhere to comprehensive and innovative cooperation, and continuously expand collaboration.
Mr. Qu Song, President of Wison Group, said that Wison's international development was inseparable from the support of Sinosure. In recent years, Sinosure has provided tailor-made comprehensive credit risk solutions for Wison's project bidding and investment plans in Europe, Southeast Asia, North America and other regions. Facing the complicated and changing overseas market and potential political risks, the cooperation between Wison and Sinosure will accelerate Wison's plans alongside the Belt and Road Initiative, and realize its upgrades and digital transformations to deliver solutions with more competitiveness for customers.
Ms. Chen Xiaoping, General Manager of Shanghai Branch of Sinosure, also mentioned at the signing ceremony that in response to Chinese government's call and market demand, it is Sinosure's mission to implement the "go global" strategy and support Chinese companies' international development through strong, policy-based financial services. As the only policy insurance company in China, Sinosure has helped companies grow in the overseas market in terms of risk prevention, financing and exports. It has always been committed to helping export enterprises resist risks in the international market and help Chinese enterprises go global. In the cooperation with Wison, Sinosure will play a supporting role in foreign trade and economic development via export credit insurance, and promote domestic products with independent intellectual property rights, especially in overseas engineering, procurement, construction, LNG industrial chain solutions and module fabrication, etc. to promote the upgrading of Shanghai's manufacturing and production services and the formation of high-end marine industry clusters.
Both sides agreed that Wison Group will take full advantage of Sinosure's professional services in risk management, ensure stable operations and achieve healthy development. To achieve this, Sinosure will provide Wison with "one-stop" express services and "green channel for claims settlement" to help them expand financing avenues and enhance their resistance to risks.
