China’s insurance industry had invested 699.4 billion yuan for the Belt and Road construction by the end of June 2017, up 18.09 percent from the beginning of the year, accounting for 4.82 percent of the balance of the domestic insurance funds used, according to a press reflease held by the China Insurance Regulatory Commission on Thursday.
Since the Belt and Road Initiative was proposed in 2013 until June this year, Sinosure had underwritten more than 480 billion U.S. dollars, in total, for the countries along the Belt and Road routes, while paying a total compensation of 1.73 billion U.S. dollars to enterprises and banks, said Zha Weiming, Deputy General Manager and spokesperson of Sinosure.
Moreover, the company had insured more than 1,200 equipment, engineering contracts and investment projects in industries such as railways, electricity, telecommunications, steel, automobile, engineering machinery and others, during the period, said Zha.
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