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)