Ping An Insurance and Hong Kong Exchanges and Clearing (HKEX) have entered into an agreement to develop cooperation and collaboration in fintech and data analytics. The purpose of the MOU is to enhance the financial market ecosystem of the region.

Ping An Group Chairman and CEO, Peter Ma, joined HKEX Chief Executive, Charles Li, at a signing ceremony, in Shenzhen at the Ping An Finance Center, Futian.

The signing of the MOU marks the beginning of a collaborative journey between Ping An Group and HKEX which seek to explore opportunities to collaborate in initiatives covering the Great Bay Area that aim to serve global financial institutions, to promote mutual access and strong coordination between the Chinese and international markets and the building of Hong Kong capital market ecosystems.

Within the Ping An group, the initiative will be led by its fintech arm, OneConnect.

Peter Ma, Ping An Chairman and CEO, said,

“The strategic cooperation with HKEX is an important milestone in our implementation of our “finance + technology” strategy and external cooperation. Ping An Group and HKEX will seek cooperation to facilitate HKEX in realizing its new vision of connecting China with the rest of the word. We look forward to the implementation and deepening of our cooperation.”

Over the past year, Ping An Group has successfully entered into multiple cooperative projects in Hong Kong. In July 2018, Ping An worked with HKMA to build a trade finance platform to facilitate cross-border trade finance and support the real economy.

In April 2019, Ping An was granted Hong Kong virtual banking licenses and Ping An OneConnect Bank will actively promote fintech innovation and the sustainable development of Puhui finance.