Wison Group Signs Comprehensive Strategic Cooperation Agreement with Sinosure

May 16, 2012, Shanghai —Recently, The Wison Group, a conglomerate specializing in energy services and high tech industry in China, signed a comprehensive strategic cooperation agreement with Shanghai Branch of China Export & Credit Insurance Corporation (Sinosure), China's sole financial institution in providing policy-oriented export credit and credit insurance. This cooperation follows current government efforts in encouraging Chinese enterprises to "go international" and seek overseas investment opportunities as well as promote the industrial upgrading. It also a prime example of how high-end advanced manufacturing can leverage support from the financial industry.
 

Under the agreement, Wison and Sinosure will work closely in the area of overseas engineering project with predicted credit and insurance value exceeding USD 10 billion in the first two years of the partnership. Mr. Hua Bangsong, President of the Wison Group said sophisticated overseas markets and political risks were the biggest obstacle for Chinese enterprises looking to go international, and that all-round cooperation with Sinosure will strengthen Wison's confidence in expansion into overseas markets and achieving one of the Group's corporate strategic objectives to become a competitive Chinese cooperation with strong global presence.
 

Mr., Zhou Ji'an , Sinosure Deputy General Manager said in the agreement signing ceremony, "responding to government calls and market demand, Sinosure will provide full financial support to local companies in pursuing a "going out" strategy with a strong policy back-up. During its cooperation with Wison, Sinosure will widen its export credit insurance services to help the growth of domestic products with proprietary technology, particularly in areas such as overseas engineering project as well as drive forward the upgrading of Shanghai's existing shipbuilding industry and spur the formation of a high-end marine industry cluster.
 

In the cooperation Wison will leverage Sinosure's professional risk management services to strengthen its internal risk management, ensure stable operation and achieve healthy development. In particular, Sinosure will provide Wison with comprehensive credit insurance and credit management support, including long-term export credit insurance, specific contract insurance, specific buyer insurance, credit management, credit research, and business consulting, actively cooperating with Wison to help the company achieve its strategic objectives in overseas markets. In addition, convenient "one-stop" service and a "green channel in claims" will also be provided to Wison.