In December 2024, Hunan Construction Investment International Trade Co., Ltd., a subsidiary of Hunan Construction Investment Group, declared to Customs a batch of mineral processing equipment to be exported to Africa via waterway, marking it as the first enterprise in China to achieve barter trade underwritten by China Export&Credit Insurance Corporation (Sinosure).

Under the guidance of the Department of Commerce of Hunan Province, the company provided clear and detailed barter trade procedures for Sinosure, and registered the “Barter Trade” special clause in the National Financial Regulatory Administration through “Comprehensive Insurance 4.0”, which is Sinosure’s flagship trade insurance product, achieving an innovative breakthrough in the new barter trade model and injecting new vitality into the development of barter trade.

In 2024, as one of the first pilot enterprises for barter trade in Hunan Province, the company promoted China’s barter trade policies in the African hinterland. With outstanding business capabilities and firm market expansion determination, it completed 38 transactions in South Africa, Nigeria, Zimbabwe, Mali, Angola, and Niger. It has become one with the business involving the most countries and the largest number of barter trade orders completed in Hunan Province annually.

In the first year of implementing the pilot program of barter trade in Hunan Province, the company has created another innovative business model to promote the development of barter trade. This injects new impetus into its own development and provides valuable experience and strong support for Chinese enterprises to expand in the African market. 

In the future, it will continue to explore and expand new models and paths of barter trade, and contribute to promoting the high-quality development of China-Africa economic and trade cooperation, as well as improving the economic and social development and people’s livelihoods of African countries.