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DUBAI: State-backed China Export and Credit Insurance Corporation (Sinosure) has opened a regional office in Dubai.
The office is located at the Dubai International Financial Centre, the first to be opened by a Chinese insurer in the Middle East, state news agency WAM reported.
Sinosure, a state-funded and policy-oriented insurance company, was established to promote China’s foreign economic and trade development on a non-profit basis.
Berne Union, a global association for export credit and investment insurers, has ranked Sinosure on top among other agencies based on total insured amount.
The new regional headquarters will work to boost the Asian giant’s foreign trade and investment, and promote the Belt and Road initiative.
“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,” Song Shuguang, chairman of Sinosure, said.