Ma Chunji(L), chairman of SinoTruk signs agreement with Chen Gang(R), general manager of SINOSURE's Shandong branch.[Photo by Wang Qian/chinadaily.com.cn]

The China National Heavy Duty Truck Group (SinoTruk) signed a strategic cooperation agreement with China Export and Credit Insurance Corp’s Shandong branch, on Aug 21, in the city of Jinan, Shandong province, which calls for the credit company to use its foreign trade advantages to come up with ideas to help SinoTruk’s development.

In addition, the credit company (SINOSURE) will cooperate with SinoTruk in risk prevention, foreign capital, overseas investment, and imports and exports to give it international influence. The agreement is expected to be to the benefit of both parties, who have had business ties since 2006.

SinoTruk, with headquarters in Jinan, is at the center of China’s heavy truck industry and has become China’s largest heavy truck manufacturer. SINOSURE, with headquarters in Beijing, is a State-funded insurance company designed to promote Chinese exports of goods, technology, and service, and the overseas investments of Chinese companies to insure against risks.

Ma Chunji, chairman of SinoTruk, and Chen Gang, general manager of SINOSURE attended the signing ceremony along with other delegates.

Wang Qian contributed to the story.