Shanghai Electric Group Co., Ltd. and Shanghai Branch of China Export& Credit Insurance Corporation signed a strategic cooperation agreement

Shanghai Electric Group Co., Ltd. and Shanghai Branch of China Export & Credit Insurance Company signed a comprehensive strategic cooperation agreement on July 9, 2010. Tu Guangshao, Vice Mayor of Shanghai, Wang Yi, General Manager of China Export & Credit Insurance Corporation, Sha Hailin, Deputy Secretary-General of Shanghai municipal government, Xu Jianguo, Chairman of Shanghai Electric and other leading members attended the signing ceremony.
Shanghai Electric Group Co., Ltd. is China's one of the largest enterprise groups in equipment manufacturing industry and also one of the most significant enterprises successfully going out of China. In recent years, Shanghai Electric has participated in or constructed various major projects abroad; its footprints have been all over the world such as Vietnam, Indonesia, India, and Middle East, Africa and many other countries and regions. Shanghai Electric s actively implementation of the going out of China strategy has played a very important role in its expanding international cooperation, enhancing international competitiveness, changes in the mode of growth and achieving sustainable development. China Export & Credit Insurance Corporation is the only policy financial institution providing export credit insurance business. Export credit insurance can relatively solve corporations problems such as receiving orders without insurance and having orders but without money by protecting the security of enterprise funds and providing financing support for export enterprises so as to improve Chinese enterprises competitiveness in undertaking overseas orders, especially orders for large projects and promote their sustainable and international development.