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China Huijin invests $3.2 bln in export insurer - media
December 18, 2012 / 12:10 PM / 5 years ago

China Huijin invests $3.2 bln in export insurer - media

BEIJING, Dec 18 (Reuters) - China’s Central Huijin Investment Co has invested 20 billion yuan ($3.2 billion) in China Export & Credit Insurance Corp, the latest move to help domestic firms to export and make outbound investment, state television reported on Tuesday.

It did not reveal the size of stake taken by Central Huijin, a unit of the country’s $480 billion sovereign wealth fund that has stakes in the country’s big banks.

China Export & Credit Insurance Corp is a state-owned company that provides credit insurance services for exporters and other firms.

The company has provided insurance services for more than 41,000 exporters and offered coverage for some $951 billion worth of exports and investment, according to state television. ($1 = 6.2350 Chinese yuan) (Reporting by Aileen Wang and Kevin Yao; Editing by Robert Birsel)

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