Ping An Subsidiaries Agree on Financial Leasing Deal

(Beijing) – Two subsidiaries of Ping An Insurance (Group) Co. have reached an agreement that will allow insurance capital to be invested in the financial leasing business for the first time in China.

Ping An Asset Management Co., an investment arm of the insurance group, signed a memorandum of understanding with Ping An International Financial Leasing Co. regarding the cooperation in Shanghai on May 14.