Annals

Annals
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Annual Report Annals
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Annual Report Annals
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January
--SINOSURE holds first forum on export credit insurance and export credit;
--SINOSURE attends CEPA Hong Kong, Macao(Chinese Mainland) Promotion Week and the forum on
economic and trade cooperation and development;
--SINOSURE signs an overall business cooperation agreement and a special agreement regarding
short-term trade financing convenience with Shenzhen Development Bank;
--SINOSURE compensates US$16.28 million to SINOPEC Liaoning Import and Export Company , the
biggest payment since China operated short-term export credit insurance;
--SINOSURE Country Risk Information Website is formally launched.
February
--SINOSURE pays US$210,000 in advance to a Chinese exporter that suffered losses caused by bird flu;
--SINOSURE signs an overall business cooperation agreement and a special agreement regarding
short-term trade financing convenience with the Agricultural Bank of China;
--SINOSURE signs cooperation framework agreements with China General Technologies Group Holdings Ltd., Import and Export Bank of Romania, and Huawei Group.
March
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--SINOSURE holds a joint meeting to introduce policy-oriented export credit insurance for agricultural
products exports , together with Beijing Municipal Bureau of Commerce and Beijinjg Municipal Committee on Rural Work;
--SINOSURE signs an agreement on business handover with China Export and Import Bank;
-- President Tang Ruoxin accompanies Chinese Vice Premier Wu Yi to visit Laos, Cambodia, Myanmar
and Maldives;
--SINOSURE insures CDMA - WLL20001X systems and installation project of Zhongxing Telecom Company for export to the telecom company of Algeria, and Societe Generale of France for the first time
becomes beneficiary of Chinese export credit insurance.
Annual Report Annals
--SINOSURE signs the first overall business cooperation agreement and a special agreement on shortterm trade financing cooperation with a foreign bank, Standard Chartered Bank;
--SINOSURE signs a cooperation MOU with Zurich Emerging Market Insurance Company;
--The Headquarters Business Department wins titles for first-rank standard service provider in Beijing
and the first-rank outlet in financing sector of Beijing;
--The policy function and role of export credit insurance is for the first time confirmed legally in Foreign
Trade Law of People’s Republic of China, which is revised and adopted at the eighth session of the
Standing Committee of the 10th National People’s Congress;
-- 11 of SINOSURE business departments and 7 local operating offices are upgraded and renamed as
branches and business departments respectively , a milestone in SINOSURE’s development from the
set-up stage to full growth;
--SINOSURE signs a letter of guarantee with Yuanda Import and Export Co. Ltd. of Zhejiang Province. It is
the first document of guarantee SINOSURE has ever issued to high-tech products export.
May
--SINOSURE holds its first international reinsurers conference;
--SINOSURE opens a business office in London, UK;
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--SINOSURE organizes a forum on use of export credit insurance to promote export of agricultural products,
sponsored by the Chinese Ministry of Commerce;
--SINOSURE convenes a forum on rejuvenating trade via science and technology, export credit and credit
insurance at Beijing International Science and Technology Industry Fair in cooperation with the Chinese
Ministry of Commerce and China United Technologies Corp.;
-- SINOSURE information system for human resource administration is officially launched;
--SINOSURE signs an agreement on credit information service with DuPont China Holdings Co. Ltd.
(Shanghai) Branch. It is the first time for SINOSURE to provide credit service to a foreign enterprise based
in China.
June
--SINOSURE sets up an association of cultural and recreational activities;
--SINOSURE signs cooperation agreements with China Dongfang Electric Corporation and Sichuan
Provincial Machinery and Equipment Import and Export Co. Ltd.;
--SINOSURE signs a blanket insurance agreement with Hebei Provincial Textile Import and Export Group
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Company;
--SINOSURE provides guarantee to Chongqing Foreign Construction Corporation in building P-H highway development project in Uganda. It is the first guarantee issued to a project with World Bank loans;
--The new edition of export credit insurance country (region) classification and limit takes effect;
-- An automatic policy renewal function in short-term biz systems is officially launched.
July
--SINOSURE signs an agreement with the Government of Myanmar over debt restructure;
--Euler Hermes becomes the first foreign credit insurance organization using SINOSURE’s credit products.
August
--SINOSURE opens a competition for the post of division chief at headquarters;
--SINOSURE holds the first seminar on medium- and long-term export credit insurance.
September
--SINOSURE signs a MOU with the State Administration of Quality Supervision, Inspection and Quarantine regarding the establishment of an information exchange mechanism;
--SINOSURE signs a business cooperation agreement with Korea Export Insurance Corporation;
--SINOSURE signs a cooperation agreement with the Foreign Trade and Economic Cooperation Com54
mission of Chongqing Municipality over building a financing platform for foreign trade and economic
cooperation in Chongqing;
--SINOSURE organizes a Sino-Korean meeting on export credit insurance;
-- President Tang Ruoxin accompanies Chinese Premier Wen Jiabao to visit Russia and signs a ‘2+1
cooperation agreement’;
--SINOSURE signs export credit insurance agreements with BNP Paribas and Huawei Technologies Co.
Ltd. It is the first buyer credit cover financed by a foreign bank.
October
--President Tang Ruoxin attends the signing ceremony during a regular meeting of Sino-Russian heads
Annual Report Annals
of State, and signs a four-party cooperation agreement (or 2+2 cooperation agreement ) with the State
Development Bank of China, Foreign Economic Bank of Russia, and the Export and Import Bank of
Russia;
-- President Tang Ruoxin accompanies State Councillor Tang Jiaxuan to visit Pakistan, India, Malaysia
and Thailand;
--SINOSURE signs a partnership agreement with Kingdee International Software Group regarding infor-
mation cooperation;
--SINOSURE is rated A level in tax-paying credit rating by Beijing Municipal Bureau of Taxation;
--By the end of October, SINOSURE’s sum insured exceeds US$10 billion, fulfilling the target of doubling
its 2003 total two months ahead of schedule.
November
--SINOSURE holds an enlarged meeting of the company’s Committee of the Communist Party of China
and studies the reports and guidelines of the fourth plenary session of the 16th National Committee of
the Communist Party of China;
--SINOSURE signs an overall business cooperation agreement with the Bank of Shanghai;
-- President Tang Ruoxin accompanies Chinese President Hu Jintao to visit Cuba and signs on behalf
of SINOSURE two MOUs with the Cuban Government over the promotion of trade, investment, insurance
and financing, and an insurance framework on financing a nickel and iron ore project in Moa of Cuba;
--SINOSURE signs an overall cooperation agreement with the Bank of Tokyo and Mitsubishi of Japan.
December
--SINOSURE makes a claim payment of about 500 million yuan to seven Chinese companies;
--SINOSURE Yunnan Branch is unveiled;
--SINOSURE holds a symposium on trade giant and export credit insurance;
--China Insurance Regulatory Commission Chairman Wu Dingfu and his entourage inspect SINOSURE;
--Chinese Premier Wen Jiabao and Vice Premier Huang Ju give important instructions over SINOSURE’s
operation;
--Chinese Vice Premier Wu Yi sends a letter of congratulation to SINOSURE on its third anniversary of
founding;
--SINOSURE wages a galaxy of publicity events on the occasion of its third anniversary of founding.
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