According to the Cooperation Agreement, the two parties will combine their strengths to support their clients. Sinosure strongly supports both Chinese exporters and banks financing latter’s contracts through appropriate insurance covers. Crédit Agricole CIB, which ranks in the top 5 worldwide among export banks, offers its expertise in structured export deals as well as its knowledge of important importers and borrowers to ease the implementation required by the Chinese exporters.

 

The Comprehensive Business Cooperation Agreement was signed by Liang Zhidong, Executive Vice President of SINOSURE and Henri d'Ambrières, Global Head Origination of Export & Trade Finance of Crédit Agricole CIB in Beijing. Liang Zhidong comments: "We are pleased to sign this business cooperation agreement. Our partnership with Crédit Agricole CIB has been beneficial for both sides and we look forward to develop it further".

 
                                                                         

Crédit Agricole CIB has longstanding relationship with SINOSURE since its establishment in 2001 and has got proven track record. Up today, the Bank has been working with SINOSURE on medium and long-term export credit insurance in various countries covering telecom, steel and power sectors. In 2006 Crédit Agricole CIB arranged, as mandated lead arranger, a USD 1 billion deal in Kazakhstan for the acquisition of assets by China National Petroleum Corporation under SINOSURE investment insurance. Moreover, the Bank has also been working on short term trade deals on receivable discounting structure covered by SINOSURE short term insurance. The signing of the Agreement is another step towards consolidating long-term relations between SINOSURE and Crédit Agricole CIB.

 

Other SINOSURE attendants were from Development & Strategy Department, Project Management Department, and Trade Credit Insurance Management Department. On Crédit Agricole CIB side, Marc Meuleau, Asia Head of Export & Trade Finance, Xiaofeng Zhong, Beijing Branch Manager and Emily Peng, Head of Export Finance China were present at the signing ceremony.