Ping An Supports Global Poverty Alleviation, Taking Successful China Handicraft Project to Cambodia

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Ping An Insurance (Group) Company of China, Ltd.

May 24, 2021, 07:02 ET

HONG KONG and SHANGHAI, May 24, 2021 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 2318; SSE: 601318) announced a new poverty alleviation program for Cambodia at the International Forum on Poverty Governance and Development Towards Modernization in Nujiang, Yunnan on 18 May.

For its Mother's Needlework public welfare program, Ping An will look for women in Cambodia with specific handicraft skills for technical training and handicrafts production to promote local women's employment and the economic and social development of their communities.

In August 2020, Ping An and Economic Daily Press Group launched the Mother's Needlework women handicraft entrepreneurship project in China in the Yi-populated areas of Liangshan, Sichuan Province. The project recycled old clothes by embellishing them with Yi ethnic clothing patterns, a valuable part of China's intangible cultural heritage, and invited the local Yi women to make and sell exquisite handicrafts. While protecting the cultural heritage of ethnic minorities, the program also promoted flexible employment of ethnic minority women.

Ping An Puhui, a subsidiary of Ping An, donated 60 sets of sewing machines, cloth cutters, clothes irons and other equipment for the project. More than 80 women participated, and their per capita income increased from RMB3,200 per year to more than RMB10,000 per year.

Richard Sheng, Secretary of the Board of Directors and Brand Director of Ping An, shared at the forum how Ping An leveraged its resources and strengths in finance and healthtech to facilitate China's poverty alleviation. He said, "Our original aspiration remains unchanged even after a century. Ping An will focus on consolidating the achievements of poverty alleviation and facilitating rural revitalization, while using its strength in finance, technology and the healthcare ecosystem to actively promote poverty alleviation efforts under the Belt and Road Initiative, and contribute to China's strength to build a community of shared future for mankind."

The forum was organized by the China Foreign Languages Publishing Administration, the People's Government of Yunnan Province, the China Public Relations Association and Renmin University of China. About 150 Chinese and foreign diplomats, officials, and scholars from 18 countries and four international organizations, including the United Nations, attended the forum. They discussed the lessons from China's poverty alleviation efforts, and how they might be applied to promote global poverty alleviation, sustainable development and modernization.

Handicrafts in Cambodia have a long history, but much of the traditional culture has almost vanished. Ping An hopes its Mother's Needlework program will create women's jobs in Cambodia, alleviate poverty and achieve socio-economic development in local regions. Ping An is committed to supporting improved standards of living and reducing development gaps, while facilitating China and Cambodia's development of the Lancang-Mekong Cooperation Economic Development Belt.

For more information on Mother's Needlework public welfare program, please watch the video here.

About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 220 million retail customers and 611 million internet users, Ping An is one of the largest financial services companies in the world. Ping An focuses on two over-arching domains of activity, "pan financial assets" and "pan health care", covering the provision of financial and health care services through our integrated financial services platform and our ecosystems; in financial services, health care, auto services and smart city services. Our "finance + technology" and "finance + ecosystem" transformation strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in Hong Kong and Shanghai. Ping An ranked 6^th in the Forbes Global 2000 list in 2021 and ranked 21^st in the Fortune Global 500 list in 2020. Ping An also ranked 38^th in the 2020 WPP Kantar Millward Brown BrandZ^TM Top 100 Most Valuable Global Brands list.