In the wake of the US launch of an investigation into Chinese trade practices, China Export and Credit Insurance Corp, also known as Sinosure, said on Thursday that it will guarantee the interests of related Chinese export companies - based on insurance policies - and help them expand new markets.
Zha Weimin, deputy general manager and spokesman of Sinosure, China's only policy-oriented insurance company, said that if the US slapped on unilateral sanctions it would harm bilateral economic and trade relations.
"In the short-term, the default risks of US buyers will be higher and Chinese export companies will suffer losses; in the long-term, the trade barrier with the US will make Chinese exports transfer to other countries," Zha said.