Sinosure (China Export & Credit Insurance Corporation) is China's state-owned export credit agency, founded in 2001. It insures Chinese exporters against a foreign buyer's non-payment. When Sinosure approves a credit limit on an importer, the exporter can safely ship on open-account terms — typically 90–120 days after shipment — with no letter of credit or deposit.
Sinosure in one paragraph
Sinosure is the official export credit agency (ECA) of the People’s Republic of China — the Chinese counterpart of Export Development Canada, the US EXIM Bank or UK Export Finance. Its short-term export credit insurance protects Chinese exporters when they sell on credit. If an insured buyer fails to pay (commercial risk) or cannot pay because of events in the buyer’s country (political risk), Sinosure indemnifies the exporter for most of the loss and then pursues recovery from the buyer.
Why it matters to importers
Chinese suppliers traditionally ask for a 30% deposit and 70% before shipment (T/T), or a letter of credit. Both drain the importer’s cash months before goods are sold. Sinosure changes the supplier’s risk: once the insurer approves a credit limit on your company, your supplier is protected if you do not pay, so it can offer open-account terms instead.
| Payment method | When you pay | Cash tied up | Bank line used |
|---|---|---|---|
| T/T 30/70 | Deposit at order, balance before shipment | 100% before goods arrive | No |
| Letter of credit | Bank pays on shipping documents | L/C margin + fees | Yes |
| Sinosure-backed open account | 60–120 days after shipment | 0–30% | No |
How the mechanism works
- Buyer identification. Your company is identified in Sinosure’s buyer database and receives a buyer code (Buyer ID).
- Limit request. Your Chinese supplier — the policyholder — requests a credit limit on you. Importers cannot apply to Sinosure directly.
- Credit assessment. Sinosure reviews your company’s financial statements, trading history, payment behaviour and country risk, often with help from international credit-information agencies.
- Approval. Sinosure approves a limit (sometimes lower than requested) and the maximum payment term it will cover.
- Trading. You buy on the agreed terms. Each shipment is declared to Sinosure; the limit revolves as you pay.
- Claims and recovery. If an insured invoice goes unpaid, the exporter reports it, Sinosure may pay the claim, and Sinosure then seeks to recover the debt from the buyer. The event is recorded against the buyer.
What Sinosure looks at
- Financial strength — revenue, profitability, equity and cash flow, ideally from audited or accountant-reviewed statements.
- Track record — years in business, trade history with Chinese suppliers and payment behaviour.
- Country risk — Sinosure grades countries; higher-risk jurisdictions receive smaller limits or no cover, and sanctioned countries are excluded.
- Consistency — the limit requested should match realistic purchase volumes with that supplier.
See the full breakdown in how Sinosure credit limits are decided.
Who pays and what it costs
The exporter holds the policy and pays the premium. Premium rates depend on the buyer’s country, the payment term and the buyer’s risk grade; suppliers may reflect part of that cost in unit pricing for long tenors. For the importer, the main “cost” is the discipline of paying every insured invoice on time — a late payment can affect limits with every Sinosure-insured supplier. Read what happens after a missed payment.
Where Hespor Finance fits
Because the application runs through the supplier, many importers never get past “my supplier doesn’t do credit terms”. Hespor Finance works on the buyer’s side: we prepare a complete buyer file, bring the supplier on board, coordinate the limit request and follow up until a decision is made. We are independent and not affiliated with Sinosure.
All Sinosure guides
- Sinosure Credit Limit Guide for Importers
- Sinosure Buyer ID and Buyer Code Explained
- Sinosure Blacklist & Negative Buyer Records Explained
- Sinosure vs Letter of Credit vs T/T for China Imports
- How to Get Net 90 Payment Terms from Chinese Suppliers
- Sinosure Intermediary & Consultant — What They Do and How to Choose
- Sinosure Trade Credit for US Importers — Net 90 Terms from China
- Sinosure Trade Credit for Canadian Importers — 90–120 Day Terms
Frequently asked questions
What is Sinosure?
Sinosure (China Export & Credit Insurance Corporation) is China's state-owned export credit agency, founded in 2001. It insures Chinese exporters against the risk that a foreign buyer fails to pay, which lets those exporters sell on open-account terms — typically 90 to 120 days after shipment — instead of demanding deposits or letters of credit.
Learn more →How does Sinosure help importers if it insures the exporter?
The policy belongs to the Chinese exporter, but the credit limit is set on you, the buyer. Once Sinosure approves a limit on your company, your supplier is insured if you do not pay, so it can safely ship first and let you pay 90–120 days later. You get supplier credit without a bank loan, collateral or a letter of credit.
Learn more →Is Sinosure-backed trade credit a loan?
No. Nobody lends you money. Your supplier extends payment terms (open account) and Sinosure insures that receivable. It does not appear as bank debt, and no collateral or personal guarantee is pledged to a lender — although you must pay each invoice in full on its due date.
Learn more →What is a Sinosure credit limit?
A Sinosure credit limit is the maximum amount of unpaid invoices that a Chinese exporter's policy will cover on one buyer at any time. If your limit is USD 500,000, the supplier can have up to USD 500,000 of your invoices outstanding on insured terms; as you pay, the limit revolves and frees up again.
Learn more →Which countries can Sinosure-backed buyers be located in?
Sinosure covers buyers in most countries, but limits and pricing depend on Sinosure's country risk rating, and sanctioned or very high-risk jurisdictions are excluded. North America, Western Europe, the Gulf states and much of Asia and Latin America are commonly covered. Tell us your country in the eligibility check and we will confirm.
Learn more →Is Hespor Finance part of Sinosure?
No. Hespor Finance is an independent consultancy. We prepare and coordinate your application with your supplier and represent your interests as the buyer; Sinosure and the insured exporter make every credit decision.
Learn more →See if you qualify for 90–120 day terms
Free 2-minute eligibility check. Instant preliminary result, no obligation.