China's Insurance Giant Unveils Presence in Hong Kong

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Last updated at: (Beijing Time) Thursday, November 28, 2002

China's Insurance Giant Unveils Presence in Hong Kong

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The People's Insurance Company of China (Hong Kong), Ltd. opened Wednesday, being the first overseas operation established by the People's Insurance Company of China (PICC), the largest non-life insurance company of China.

Tang Yunxiang, general manager of PICC, said at the opening ceremony that the opening of PICC (HK) reflects the intention of the mainland insurance business to develop the overseas market.

Local analysts pointed out that the establishment of PICC (HK) marks an important step of the mainland insurance companies in building an overseas business network with Hong Kong as a base since China's entry into the World Trade Organization.

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