Ping An CIO: Exposure to China real estate troubles under control
China’s largest insurer says it is insulated from the troubles in the country’s property sector after taking steps to cut its exposure to developers in recent years.
Ping An Insurance is staying calm despite growing concerns about turmoil in the Chinese property market and its ripple effect on the broader economy.
“We believe property is something where we feel that we can totally control our exposure and risks. And at the same time, they are going to deliver a lot of the embedded value in the future,” said Benjamin Deng, chief investment officer of Ping An, at a media briefing on August 30, following the release of the company’s 2023 interim…
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