COMAC signed strategic cooperation agreement with Sinosure

Commercial Aircraft Corporation of China, Ltd. (COMAC) signed a Strategic Cooperation Agreement with China Export & Credit Insurance Corporation (Sinosure) in Shanghai on August 18th, 2017. Both sides would develop in-depth cooperation in areas such as financial insurance, receivables management and export financing, and jointly make new contributions to the industrialization and the "going out" strategy of China's civil aircraft. Mr. Wang Yi, Chairman and Secretary of the Party Committee of Sinosure, and Mr. He Dongfeng, Chairman and Secretary of the Party Committee of COMAC, witnessed the signing of the agreement together. 

In recent years, as a result of "The Belt and Road Initiative", the "going out" strategy of aviation industry has become the key to build a comprehensive multi-level interconnecting network. As the main vehicle in implementing large commercial aircraft program in China, COMAC bears the century dream of flying in the sky and the will of the Chinese nation, and has made great breakthroughs in the development of China's civil aviation industry in recent years, for example, ARJ21 aircraft has entered commercial service and C919 aircraft has completed the first flight. In its cooperation with COMAC, Sinosure would always take the demand of the "going out" strategy of the China-made large aircraft as the driving force, start from the perspective of Sinosure, be committed to building and improving the overseas business risk control system for COMAC, and help COMAC grasp the great historic opportunity brought by the "The Belt and Road Initiative" to embark on the development path of marketization, integration, industrialization and internationalization better and faster. 

Mr. He Dongfeng expressed that the signing of this agreement was a concrete manifestation of the combination between industry and finance after the Central Financial Work Conference, and an important step for financial institutions to support the national strategic emerging industries and the real economy. He hoped that both sides could center on the "going out" strategy of the large aircraft and further strengthen cooperation to jointly promote the development of China's civil aircraft industry in the future. 

Mr. Wang Yi expressed that Sinosure would continue to carry out its policy functions, deepen cooperation, expand cooperation areas, and provide strong support for COMAC in overseas market development of aviation industry research, overseas business consultation and investigation, overseas risk emergency management, special product support, risk prevention, etc. 

After the signing ceremony, Mr. Wang Yi and his delegation visited COMAC Manufacturing and Final Assembly Center, and learned about the research and development progress of C919 program on site.

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