Insurance News
- Sinosure launches risk-analysis service
Date: 14-Dec-2006 Sources: (Shenzhen Daily)
SINOSURE, China's only export insurer, has launched a risk-analysis service as part of official efforts to support Chinese enterprises as they invest overseas.
Sinosure has issued a report covering 130 countries that aims to help local companies better evaluate and minimize risks when diversifying into overseas markets, the China Daily said.
'We should create a stable environment for Chinese investors to ensure their security and to support them in terms of taxation, financing and insurance,'Commerce Minister Bo Xilai said, according to a separate report in the newspaper.
He said the Chinese Government will help in facilitating agreements and working with local governments, the report said.
China's overseas investment accounts for only 1.6 percent of overall global foreign direct investment but its firms have managed to accumulate expertise in sectors like construction, telecommunications and tourism, the report said.
Top leaders gathering in Beijing last week for the most important economic policy making conference of the year decided to make it a priority in 2007 to boost overseas investment, State media reported previously.
The Chinese Government in recent years has adopted various measures, including lifting from July 1 the cap of US$5 billion firms can buy for overseas investment, to encourage them to do business abroad.
Outbound investment is seen as one of the options for relieving the pressure on the Chinese currency, the yuan, to rise.
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