Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
News for Outlets

Ping An Insurance to provide RMB200 bln financial support for Wuhan in 5 yrs

June 29, 2020


Abstract : Ping An Insurance Group will provide 200 billion yuan worth of intentional financial support for central China's Wuhan in the next five years, according to a strategic cooperation framework agreement signed between Ping An and Wuhan municipal people's government, the Xinhua-run cnstock.com reported on Sunday.

BEIJING, June 29 (Xinhua) -- Ping An Insurance Group will provide 200 billion yuan worth of intentional financial support for central China's Wuhan in the following five years, according to a strategic cooperation framework agreement signed between Ping An and Wuhan municipal people's government, the Xinhua-run cnstock.com reported on Sunday.

The move is aimed at fully supporting Wuhan's economic recovery after the COVID-19 pandemic. 

Ping An will provide financial support for Wuhan in areas including infrastructure construction, major project investment and financing, health care, comprehensive urban development, smart cities and livelihood projects. 

In specific, Ping An will assist Wuhan in the construction of rail transit projects, carry out cooperation on publicly traded infrastructure real estate investment trusts (REITs) to promote high-quality development of Wuhan, participate in the investment and financing of major projects in Wuhan and the cooperation of urban development funds, build medical industry bailout funds, and support hospital financing.

According to statistics provided by Ping An Bank, its Wuhan branch had offered a total of 16.096 billion yuan to support the anti-epidemic related enterprises and the development of small and micro-sized enterprises by the end of May. It deferred principal and interest payments for 3384 small and micro-sized enterprises, involving 3.208 billion yuan worth of loans. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: Wuhan Ping An Insurance Group

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial