Ping An Insurance channels 5 trillion yuan into real economy in 2020
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E-mail Xinhua, February 16, 2021
Ping An Insurance (Group) Company of China, Ltd. channeled more than 5 trillion yuan (776.4 billion U.S. dollars) into the real economy through insurance fund investment and bank credit last year.
Ping An Insurance extended more than 14 billion yuan in loans for poverty alleviation through boosting industries in the rural areas last year.
Its insurance fund portfolio reached 3.74 trillion yuan at the end of 2020, an increase of 16.6 percent compared with the beginning of 2020.
In terms of investment varieties, bond investment stood at 1.88 trillion yuan, accounting for 50.2 percent of the total and the stock investment was 315.103 billion yuan, accounting for 8.4 percent.
Ping An Insurance has announced that net profits attributable to its shareholders declined by 4.2 percent, year on year, in 2020 due to COVID-19.
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