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Chinese wealth management platform Lufax to acquire OneConnect for $119 5

PAOB, a wholly-owned subsidiary of OneConnect Financial Technology, is one of the eight fully-licensed virtual banks in Hong Kong.

Lufax Holding: Q3 Earnings Insights - Lufax Holding (NYSE:LU)

China property rescue? Who are Ping An Insurance Group and Country Garden?

HONG KONG Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported on Wednesday (Nov 8), citing sources familiar with the plan. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by China to.

Factbox-China property rescue: Who are Ping An Insurance Group and Country Garden?

Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported on Wednesday, citing sources familiar with the plan. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by China to support its cash-squeezed, highly indebted property sector, which accounts for one-quarter of economic activity. Ping An, based in the southern tech hub of Shenzhen, vies with China Life for the title of the country's biggest insurance group by market value.

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