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Ping An to Be First to Join in Public Hospital

 

Wednesday, Apr 27,2011, 8:13:53 PM   Click:

China Ping An Trust & Investment Co., Ltd. is said to have signed a cooperation agreement with the government of Longgang District, Shenzhen City, Guangdong Province on the public hospital Longgang Traditional Chinese Medicine Hospital.

The move is expected to drive Ping An Trust's parent company Ping An Insurance (Group) Company of China, Ltd. (Ping An, SHSE: 601318, and SEHK: 2318), the second largest insurance conglomerate in the nation, to become the first one in the Chinese insurance industry to participate in the restructuring of a public hospital.

Currently, the hospital is under construction. Pursuant to their agreement, Ping An Insurance will rent the office space and supporting equipment of the hospital for 30 years, and it is free of rent in the first five years. The hospital is to be built a upper third-class hospital and an integrated hospital based on traditional Chinese medical science, and will be put into operation this July.

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