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CNQC Enters into a Strategic Cooperation Agreement with Sinosure Promote Business Development in “Belt and Road” Regions

Updated Date: 2018-09-05

CNQC International Holdings Limited

 (Incorporated in the Cayman Islands with limited liability)

(Stock code:1240.HK)

CNQC Enters into a Strategic Cooperation Agreement with Sinosure

Promote Business Development in “Belt and Road” Regions

 

 

(5 September 2018 - Hong Kong and Singapore) CNQC International Holdings Limited ("CNQC International," "the Company," together with its subsidiaries, collectively "the Group”, stock code: 1240.HK), a leading property developer and contractor in Singapore, is pleased to announce that the company has entered into a strategic cooperation agreement (“the Agreement”) with the Guangdong Branch of the China Export & Credit Insurance Corporation (“Sinosure”). The parties will establish a strategic cooperative relationship, and Sinosure will offer insurance service to the Company in the “Belt and Road” regions with the aim to foster the overseas expansion of the Company.

 

According to the Agreement, The parties will establish a comprehensive strategic cooperative relationship to foster the overseas expansion of the Company. Sinosure will provide various types of services and necessary resources to satisfy the Company’s insurance needs for its overseas expansion, and offering preferential terms to the Company for a political risk insurance in the “Belt and Road” regions.

 

Sinosure, a state-owned policy insurance company with independent legal personality, was established by the state and to support China's foreign economic and trade development. The main product services including: medium and long-term export credit insurance, overseas investment insurance, and short-term export credit insurance.

 

Mr. Wang Congyuan, Chief Executive Officer of CNQC, said: “Entering into the Strategic Cooperation Agreement will consolidate the cooperation between Sinosure and the Company. It has been the Group’s business strategy to seek business opportunities created by the “Belt and Road Initiative” and insurance planning is an essential part to ensure sustainability and manage its risk exposures in conducting business in new markets. The cooperation with Sinosure will allow the Group to utilize the resources of Sinosure in the area of insurance for the continuous overseas expansion of the Company.”

 

Mr. Wang Congyuan, CEO of CNQC International Holdings Limited (left) and Mr. Jiang Shaohua, Senior Manager of Guangdong Branch of the China Export & Credit Insurance Corporation (right) signed Strategic Cooperation Agreement.

 

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