China Export and Credit Insurance Corporation (Sinosure) signed
an insurance policy with BNP Paribas in Nanning on Thursday on the
export of a set of equipment to a Vietnamese hydropower plant.
The Vietnamese project worth of US$16 million is invested by
China National Heavy Machinery Corporation, who in the process of
winning the bid was facilitated by BNP Paribas bank in financing
terms and supported by Sinosure on the insurance front.
A Sinosure official said at the signing ceremony that Sinosure
is willing to cooperate with large transnational banks to help
domestic companies invest overseas.
(Xinhua News Agency November 3, 2006)