Hongkou District Party Secretary Li Qian met with Huang Ming, Vice President and Party Committee Member of the People’s Insurance Company of China Asset Management Co., Ltd. (PICC Asset Management), and Long Baoyong, Party Secretary and General Manager of PICC Property & Casualty Company’s Shanghai Branch on December 3.
The meeting focused on strengthening mutual understanding and advancing cooperation to support high-quality development.
PICC, a pioneer in China’s insurance industry, operates 12 subsidiaries including PICC P&C, PICC Life, and PICC Asset Management.
Established in 2003 as the country’s first insurance asset management company, PICC Asset Management specializes in centralized, professional, and market-oriented investment for both internal and third-party insurance funds, managing assets totaling 1.8 trillion yuan.
Meanwhile, the Shanghai Branch of PICC P&C, with over 70 years of presence in the city, ranks among the market leaders in business scale and risk protection, meeting the diverse insurance needs of government, corporate, and individual clients. In 2024 alone, the branch has provided risk protection worth over 100 trillion yuan.
Li Qian expressed gratitude for PICC’s longstanding support of Hongkou’s economic and social development.
He called for a clear strategic alignment in the partnership, identifying opportunities and creating a model for district-enterprise collaboration.
He emphasized strengthening investment initiatives in areas like equity investment, public and private funds, urban renewal, and green finance to enhance market stability.
Li also highlighted Hongkou’s unique geographical advantages, urging exploration of innovative insurance products such as marine, technology, and catastrophe insurance, aligning with both social and economic goals.
Further, he advocated for expanded financial support to drive growth and development, as well as enhanced coordination mechanisms to deepen strategic integration.
Huang Ming outlined PICC Asset Management’s comprehensive capabilities, which include credit risk management, equity and derivative investment, and management of debt and equity investment plans.
He noted that as a central financial institution, PICC Asset Management is committed to the principles set forth at the Central Financial Work Conference.
Huang pledged to leverage PICC's strengths to support Hongkou's integration into Shanghai’s international financial center strategy and its development as a core hub for global asset management, contributing to national and regional economic initiatives.
Long Baoyong emphasized PICC P&C’s commitment to innovation in products and services, aligned with national strategies and Shanghai’s economic development needs.
He highlighted the longstanding collaboration between PICC P&C Shanghai and Hongkou District, proposing enhanced communication channels to advance key projects and pilot innovative initiatives.
Long also expressed a desire to further strengthen PICC’s marine, technology, and reinsurance centers to inject new momentum into Shanghai’s development as a global hub for finance, trade, and innovation.