BEIJING (XINHUA) – China Export and Credit Insurance Corporation (Sinosure) has stepped up support for the country’s green industries by providing more export credit insurance, the company said.
Since the start of 2021, the company has insured over 150 green projects, with the sum insured reaching around USD7.7 billion.
Sinosure has also strengthened its financial support to green projects under the Belt and Road Initiative and helped domestic companies explore overseas green and low-carbon markets.
Take the photovoltaic industry as an example. Sinosure has helped facilitate the export of photovoltaic products worth over USD130 billion from 286 companies since 2005.
Looking to the future, Sinosure will continue to explore green finance innovation, promote the integration of green finance and green industries, increase support for green industries and green projects, and give better play to the role of export credit insurance, the company said. Sinosure is a state-funded insurance company established to promote China’s foreign trade and international economic cooperation.
Meanwhile, the Agricultural Development Bank of China, the country’s rural policy bank, said it had issued over CNY1 trillion yuan (about USD156.5 billion) of loans to water conservancy by the end of March.
The figure came from an average annual growth rate of 16 per cent since 15 years ago, the bank said, adding that the outstanding loans stood at CNY528.3 billion as of the end of last month.
The policy bank, in particular, has so far provided 87 national-level water conservancy projects with loan support valued at CNY71.1 billion.
The bank said that it would continue to optimise its credit products and patterns of loans, and maximise its role as a policy bank in the field of water conservancy.
