Ping An Signs Strategic Cooperation Agreement with Shenzhen Stock Exchange

Rhea-AI Summary

Ping An Insurance (Group) Company has entered a strategic cooperation agreement with Shenzhen Stock Exchange (SZSE) aimed at enhancing fintech innovation and diversified financing channels. This partnership, announced on March 26, 2021, aligns with China's 14th Five-Year Plan and aims to bolster the digital ecosystem within the capital market. OneConnect will facilitate this collaboration. As of December 2020, OneConnect served nearly 700 banks and over 100 insurance firms, highlighting its significant role in the financial technology sector.

Positive

• Strategic partnership with SZSE focused on fintech innovation.
• Alignment with China's 14th Five-Year Plan potentially enhances growth opportunities.
• OneConnect's established service to nearly 700 banks and over 100 insurance companies demonstrates its market influence.

Negative

• None.

HONG KONG and SHANGHAI, March 26, 2021 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An Group", HKEX: 2318; SSE: 601318) has signed a strategic cooperation agreement with Shenzhen Stock Exchange (hereafter "SZSE"). Representatives of both parties including Peter Ma, Chairman of Ping An Group, Jessica Tan, Co-CEO of Ping An Group, Wang Jianjun, Chairman of SZSE, and  Li Hui, Deputy General Manager of SZSE, attended the signing ceremony. The strategic partnership will focus on fintech innovation, diversified financing channels, technology exchange and collaboration, and will help demonstrate the capital market's function of serving the real economy. OneConnect will facilitate the strategic cooperation on behalf of Ping An Group.

Peter Ma, Chairman of Ping An Group, said that the strategic cooperation established between Ping An Group and SZSE at the start of China's national 14th Five-Year Plan is of profound significance. The strategic cooperation is an important milestone for the Ping An to deliver on its "finance + technology" and "finance + ecosystem" strategies, by working with SZSE to build a digital ecosystem in the capital market.

Jessica Tan, Co-CEO of Ping An Group, said she believes that technology will play critical role in developing an influential ecosystem in the global capital market. This cooperation between Ping An and SZSE will support the innovation and development of fintech in the capital market, she said.

Ye Wangchun, Chairman and CEO of OneConnect, said, "On the basis of this cooperation, OneConnect will fully demonstrate its functions as a market platform and its ability to lead the development of financial industry technology as it supports SZSE in building an open and collaborative digital system for the industry."

As a leading technology-as-a-service platform for financial institutions in China, OneConnect had served nearly 700 banks and more than 100 insurance companies as of the end of December 2020. Ping An Group also signed a fintech strategic cooperation agreement with the HKEX Group in September 2019, with OneConnect leading on behalf of the Group. The two parties continue to work together in the fintech field.

SZSE is a national securities trading venue approved by the State Council of the People's Republic of China. Serving the real economy and supporting the national strategy, the SZSE strives to build an innovative capital center and a world-class exchange. SZSE places great importance on the fintech innovations and applications in the capital market. It promotes the development and progress of fintech to serve the real economy.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 218 million retail customers and 598 million internet users, Ping An is one of the largest financial services companies in the world. Ping An focuses on two over-arching domains of activity, "pan financial assets" and "pan health care", covering the provision of financial and health care services through our integrated financial services platform and our ecosystems; in financial services, health care, auto services and smart city services. Our "finance + technology" and "finance + ecosystem" transformation strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in Hong Kong and Shanghai. In 2020, Ping An ranked 7^th in the Forbes Global 2000 list and ranked 21^st in the Fortune Global 500 list. Ping An also ranked 38^th in the 2020 WPP Kantar Millward Brown BrandZ^TM Top 100 Most Valuable Global Brands list.

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

FAQ

What is the purpose of the partnership between Ping An and SZSE?

The partnership aims to enhance fintech innovation and create diversified financing channels.

When was the strategic cooperation agreement with SZSE signed?

The agreement was signed on March 26, 2021.

What role does OneConnect play in the cooperation with SZSE?

OneConnect will facilitate the strategic cooperation on behalf of Ping An Group.

How many banks and insurance companies does OneConnect serve?

As of December 2020, OneConnect served nearly 700 banks and over 100 insurance companies.