Ping An Releases 2024 Sustainability Report
30 Years of Public Welfare Education
"Worry-free, Time-saving and Money-saving" Project Creates a New Paradigm in Services
HONG KONG and SHANGHAI, April 7, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) has published its Sustainability Report 2024.
This is the 16 th consecutive year that Ping An has released its sustainability report. The report features two themes: "Public Welfare Education" and "Worry-free, Time-saving and Money-saving" services. It also discloses the Company's latest progress across five key areas: strategic management; business; operations and community; climate change and carbon neutrality; and governance.
Theme One: Thirty Years of Public Welfare Education
Ma Mingzhe, Chairman of Ping An Group said, "As long as there is still one student at Ping An Hope Primary School, our public welfare volunteer teaching will continue."
Ping An's public welfare education initiative marked its 30 th anniversary in 2024. Since the establishment of the first Ping An Hope Primary School in 1994, the Group has continued to support rural education through measures such as infrastructure and maintenance, volunteer teaching, educational scholarships, training and development, and summer camps. In 2024, Ping An's support included:
As of the end of 2024, Ping An had assisted in building 119 Ping An Hope Primary Schools across the country. It recruited 12,708 volunteer teachers who contributed more than 443,000 total teaching hours. Ping An also established educational scholarships which have cumulatively supported 31,345 students, and trained over 20,000 rural teachers, benefiting 310,000 students.
Theme Two: "Worry-free, Time-saving and Money-saving" Project Creates a New Paradigm in Financial Services
Michael Guo, Co-CEO of Ping An Group, said, "Customers' voices, needs and suggestions are the guide for our service reform and product upgrade."
Since Ping An was established 36 years ago, the Company has grown into a world-leading "integrated finance + health and senior care" services group. Adhering to the value proposition of "worry-free, time-saving, and money-saving" services, Ping An focuses on developing professional products and services for three main scenarios: financial advisers, family doctors, and senior care concierges. Ping An made every effort to promote its value proposition in 2024. The Group launched its 2024 Customer Listening Day in May, calling on senior executives, business teams and front-line employees to engage with customers to understand their needs and pain points, and then accelerate the upgrading of product and service upgrades.
To meet customers' diversified needs in wealth management, health, and senior care, Ping An provides services such as wealth management, insurance protection, and consumer credit through an integrated financial model featuring "one customer, multiple accounts, multiple products, and one-stop services." As of the end of 2024, Ping An had 242 million retail customers, with an average of 2.92 contracts per customer. More than 25% of them were holding four or more contracts within the Group. Nearly 63% of Ping An's retail customers were entitled to service benefits in the health and senior care ecosystem as of the end of 2024. In 2024, over 21 million customers of Ping An Life used health management services. Ping An has approximately 50,000 in-house and contracted external doctors and partnered with all top 100 hospitals and 3A hospitals in China. It has also established cooperation with over 104,000 health management institutions and 235,000 pharmacies. Ping An's home-based senior care services cover 75 cities nationwide, and over 160,000 customers are eligible for home-based senior care services.
Top 10 highlights of Ping An's sustainable development in 2024
1. Stable business performance, with total cash dividends increasing for 13 consecutive years: In 2024, Ping An achieved an operating profit attributable to shareholders of the parent company of RMB121,862 million, a year-on-year increase of 9.1%; net profit attributable to shareholders of the parent company was RMB126,607 million, a substantial year-on-year increase of 47.8%; and total revenue was RMB1,141,346 million, a year-on-year increase of 10.6%[1]. With the goal of providing stable returns to shareholders, Ping An distributed a full-year dividend of RMB2.55 per share in cash in 2024, a year-on-year increase of 5%. The cash dividend ratio based on the operating profit attributable to the parent company was 37.9%, with the total dividend amount maintaining growth for 13 consecutive years.
2. Technology empowering sustainable development, driving innovation in finance and healthcare: Ping An continues to increase investment in technology, comprehensively improving the user experience of financial and healthcare services through cutting-edge technologies such as artificial intelligence (AI) and big data. As of the end of 2024, Ping An had accumulated 55,080 patent applications in the fields of financial technology and healthcare. AI service representatives reached about 1.8 billion times, covering 80% of Ping An's total customer service volume in 2024. Through intelligent underwriting and intelligent claims settlement, 93% of life insurance policies achieved second-level underwriting. Ping An Property & Casualty independently developed the Disaster Risk System (DRS3.0) and the Catastrophe Emergency Service Platform, integrating over 2 trillion pieces of geographic, disaster, meteorological, and insurance data, combined with meteorological disaster models, satellite remote sensing, machine learning, and other technologies. These tools provide intelligent risk control services such as disaster early warning, risk screening, and catastrophe risk management. In 2024, the DRS 3.0 issued 10.55 billion early warning messages, providing pre-disaster early warnings to 67.34 million individuals and enterprises. In healthcare, Ping An's independently developed AI-assisted diagnosis and treatment system currently covers the diagnostic knowledge of over 2,000 diseases, with an accuracy rate of over 99% in triage – guiding patients to the appropriate medical department – and an assisted diagnosis accuracy rate of over 95%.
3. Continuously developing green finance to support the low-carbon transformation of industries: Ping An regards green finance as a systematic initiative, supporting green development and industrial transformation through insurance, lending, investment, and other products and services. In 2024, Ping An's green insurance premium income reached RMB58,608 million, a year-on-year increase of nearly 57%. The balance of green loans was RMB157,762 million, a year-on-year increase of 13%, and the scale of insurance fund green investment was RMB124,712 million. As an extension and expansion of green finance, transition finance has become a key driving force for promoting industrial upgrading and stable economic operations. Ping An is actively responding to this trend, increasing its support for transition finance and emerging low-carbon technologies. As of the end of 2024, Ping An Bank had cumulatively issued RMB440 million in project loans for carbon capture, utilization, and storage technology (CCUS) to Baotou Iron and Steel Group; and cumulatively issued approximately RMB3.44 billion in project loans for the Coal Grading Clean and Efficient Conversion Project to Yulin Chemical Co. Ltd.
4. Leveraging integrated financial advantages to promote inclusive financial development: Ping An is committed to improving the accessibility of financial services, providing broader protection and support for micro and small enterprises and low-income groups. In 2024, Ping An Property & Casualty added 304 new inclusive insurance products to further expand the scope of protection. Ping An Life Insurance launched low-premium rural insurance products, covering accidental risks such as transportation and natural disasters, and the product provided protection for 42,000 customers throughout the year. Ping An Bank issued loans of RMB160,224 million to micro and small enterprises, with a loan balance of RMB 506,331 million in 2024. It also issued 63,000 Rural Revitalization Debit Cards. As of the end of 2024, Ping An Property & Casualty had provided over RMB220 trillion in full-risk protection for nearly 2.4 million micro and small enterprises, with over 900,000 claims processed, worth nearly RMB4 billion. Ping An Bank had cumulatively served 782,000 micro and small enterprise loan customers, and issued nearly 260,000 cards.
5. Operating carbon emissions decreased by 8% year-on-year, accelerating towards the 2030 carbon neutrality goal: Ping An identifies and assesses climate change-related risks and opportunities, conducts climate risk scenario analysis, and formulates response measures and transformation plans. In 2024, the company actively promoted energy conservation and carbon reduction, with total greenhouse gas (GHG) emissions for the year at 439,291 tonnes of carbon dioxide equivalent (tCO 2 e), a year-on-year decrease of 8%. Among them, Scope 1 (direct GHG emissions) was 28,158 tCO 2 e, a year-on-year decrease of 22%. Scope 2 (energy-related indirect GHG emissions) was 342,193 tCO 2 e, a year-on-year decrease of 8%. In 2024, Ping An purchased a total of 11,612 megawatt-hours (MWh) of green electricity, avoiding nearly 6,800 tCO 2 e emissions. Scope 3 (paper use and employee travel) was 68,941 tCO 2 e emissions, about the same as in 2023. As of the end of 2024, Ping An's self-developed employee carbon account platform covered 180,000 employees, recording 2.26 million carbon reduction actions, achieving an emission reduction contribution of approximately 23,662 tCO 2 e. In the field of green buildings, Ping An has 30 building projects that have obtained domestic and foreign green and healthy building certifications, of which 10 buildings have obtained Leadership in Energy and Environmental Design (LEED) Gold and above certification.
6. Protecting consumer rights and privacy, exploring an aging-friendly service model: In 2024, Ping An updated its Policy Statement on Privacy Protection (2024) and Policy Statement on Information Security (2024), conducted special audits on consumer rights protection, and tracked the rectification of problems found in the previous year, ensuring a rectification rate of 100%. Targeting the senior population, Ping An is exploring the "aging-friendly" service model. Actions include installing anti-collision corners in the basic infrastructure of service counters, setting up rest areas for the elderly, and providing equipment such as wheelchairs, walking sticks, reading glasses, and medicine kits for a more friendly service environment for the elderly. Ping An also provides an exclusive service hotline for customers over 60 years old. Through the service hotline, senior customers can directly reach the dedicated customer service with one click, enjoying convenient and caring services. In addition, Ping An continues to explore digital methods such as intelligent voice assistants and simplified mobile app interfaces to help elderly customers cross the digital divide.
7. Focusing on employee development and protection, with satisfaction increasing for two consecutive years: Ping An is committed to protecting the legitimate rights and interests of employees, helping employees grow through salary incentives and training, and achieving the common development of employees and the company. In 2024, Ping An updated the Statement on Employee Rights (2024), improving its employee protection mechanism. As of the end of 2024, Ping An had 273,053 employees. Female employees accounted for 51%, and in senior management, female personnel accounted for 36%. To encourage retention of core talent, Ping An implemented the Core Personnel Stock Ownership Plan and the Long-term Service Plan. As of the end of 2024, 103,610 employees participated in the plans, covering 38% of employees. For employee training and development, Ping An cooperated with educational institutions to introduce high-quality courses. In 2024, the Group invested RMB956 million in training, and employees benefitted from an average of 49 hours of training each. In addition, Ping An conducts satisfaction surveys for all employees every year. In 2024, the overall employee satisfaction reached 90 points, steadily improving for two years in a row. With excellent talent development and management practices, Ping An ranked 318th globally and second in the Chinese financial industry in Forbes' World's Best Employers 2024.
8. Strengthening information security management and building an AI ethics system: Ping An continues to improve its information security management system and is promoting the construction of an artificial intelligence (AI) ethics system. In 2024, the Group, together with its member companies, completed 67 security emergency drills, covering 11 emergency scenarios such as ransomware, anti-DDoS (distributed denial-of-service) attacks, and phishing emails. It carried out database backup recovery drills and cross-regional joint disaster recovery exercises, effectively improving the Group's emergency response capabilities for information security. Throughout the year, more than 30 information security training sessions were conducted, focusing on eight major risk scenarios, such as personal information leakage, data outsourcing, phishing emails, and third-party personnel management. The training pass rate was 100%. Ping An has maintained information security management system certifications for many years. As of the end of 2024, Ping An's ISO/IEC 27001 certification coverage rate reached 93%. In addition, in terms of AI governance, Ping An follows five ethical principles: people-oriented; human autonomy; safe and controllable; fair; and just, open and transparent. It issued the Policy Statement on AI Ethics Governance (2022), and aims to scientifically manage the development and application of AI to ensure that technological innovation meets ethical and moral standards.
9. Actively fulfilling social responsibility and enhancing community influence: In 2024, Ping An provided over RMB52 billion in rural industrial revitalization assistance funds, provided free physical examinations for 6,859 villagers, held 29 lectures on chronic diseases science, upgraded 45 rural clinics, and held 45 free medical consultation sessions in rural areas. Ping An also encouraged employees to devote themselves to public welfare projects. As of the end of 2024, there were more than 490,000 employee and agent volunteers, who participated in voluntary blood donation, educational public welfare, emergency disaster relief, and other public welfare actions.
10. Outstanding performance recognized by international rating agencies and capital markets: In 2024, Ping An was awarded an AA rating in the MSCI ESG rating, ranking first in the Asia-Pacific region in the multi-line insurance and brokerage industry for three consecutive years. It was rated "Low Risk" in the Sustainalytics ESG rating, with a score of 15.6, the best score among insurance companies in Chinese mainland. It was selected for the S&P Global's "Sustainability Yearbook 2024 (China Edition)", the only insurance company included in mainland China. In addition, Ping An has been selected as a constituent stock of the FTSE4Good index series for five years and has been a constituent stock of the Hang Seng Corporate Sustainability Index Series for 14 years.
Sustainable development is a cornerstone of Ping An's long-term strategy. The Group will continue to deepen the "integrated finance + health and senior care" technology-driven strategy, using technological innovation to create a competitive advantage in service. It will provide customers with all-around professional financial advisory, family doctor, and senior care concierge services, enabling customers to enjoy "worry-free, timesaving, and money-saving" services experience, and it will continue to create long-term, stable, and sustainable value for customers, employees, shareholders, and society.
For details of the report, please click here.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its 242 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29 th in the Forbes Global 2000 list in 2024 and 53 rd in the Fortune Global 500 list in 2024.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Korea Herald
2 days ago
- Korea Herald
ZTE Releases Sustainability Report 2024: Empowering a Sustainable Future through Digital Intelligence
SHENZHEN, China, June 9, 2025 /PRNewswire/ -- ZTE Corporation ( / a global leading provider of integrated information and communication technology solutions, has recently released its Sustainability Report 2024, marking the 17th consecutive year the company has proactively disclosed its sustainable commitments and progress to the public. The ZTE Corporation Sustainability Report 2024 highlights ZTE's strong ESG strategies and achievements, showcasing how the company is leveraging digital innovation to drive sustainable transformation across the globe. Amid the accelerating wave of global digitalization, ZTE remains committed to its role as a "Driver of the Digital Economy", advancing its sustainability agenda on two fronts: by making significant strides in green operations guided by science-based carbon targets, and by enabling digital and low-carbon transformation across industries through cutting-edge technologies. Xu Ziyang, Executive Director and CEO of ZTE, states in the report, "The new wave of AI-driven technological revolution, particularly the boom of large models and generative AI, has propelled the global digital and intelligent transformation. In this critical year filled with both challenges and opportunities, ZTE, as a 'Driver of Digital Economy', stayed true to its original aspiration and responded to the call of the times." The report reveals that ZTE continues to strengthen the underlying capabilities and scaling up R&D investment to build stronger core competence, with the R&D expenses accounting for 19.81% of operating revenue. As of December 31, 2024, ZTE had filed 93,000 global patent applications, with over 48,000 patents granted. Specifically, in the field of chips, ZTE had filed about 5,500 patent applications, with over 2,000 granted. In the field of AI, the company had filed more than 5,000 patent applications, with nearly half of them already granted, demonstrating strong innovation and technological capabilities. Advancing Green Strategies to Tackle Climate Challenges ZTE centers its core drive on technological innovation, continuously deepening its green development strategy to address climate change challenges and promote the coordinated advancement of digital intelligence and sustainability across industries. In 2024, ZTE received official approval from the Science-Based Targets initiative (SBTi) for its near-term 1.5°C target and long-term net-zero targets. In the same year, ZTE published the ZTE Net-Zero Strategy White Paper. The company continues to advance its "Green Digital Path" initiative across four dimensions: green corporate operations, green supply chain, green digital infrastructure, and green empowerment. ZTE has been named to the prestigious CDP A list for leading climate action for two consecutive years, reinforcing its global climate leadership. In terms of green corporate operations, ZTE has achieved the remarkable feat of increasing revenue while reducing energy consumption, thanks to years of continuous effort. In 2024, the company improved its energy efficiency by 20% compared with 2021, and recorded a 13.4% reduction in Scope 1&2 emissions compared to the previous year. Its telecom products saw an 8.39% reduction in physical emissions intensity during the use and maintenance phase, while its terminal products achieved a 5.02% year-on-year reduction in absolute emissions over the entire product lifecycle. ZTE reduced its Scope 1&2&3 carbon emissions by 14.317 million tons in 2024 compared to 2023 levels. For green supply chain, in 2024, ZTE has integrated dual-carbon strategy requirements into supplier management IT systems, including agreement signing, on-site audits, and performance assessments. In this year, ZTE conducted onsite CSR audits for 261 production suppliers (representing 86.9% of the top 90% suppliers by procurement amount). Regarding green digital infrastructure, ZTE boasts over 800 green innovation patents. As of 2024, the company has conducted carbon footprint assessments for 154 products, covering all its product categories. Through its end-to-end green solutions, ZTE continues to help global operators save over 10 billion kWh of electricity annually. In green empowerment of industries, ZTE has actively integrated cloud and network infrastructure, IoT, big data, AI and other cutting-edge technologies with traditional industries to achieve a win-win outcome of development and emission reduction. The company has partnered with over 2,000 leading industry players to carry out 5G-powered innovative green practices across 18 sectors—including steel, metallurgy, electronics manufacturing, ports, rail transit, mining, and power—pioneering more than 100 innovative application scenarios. Upholding a People-Centered Approach to Foster an Inclusive Society ZTE has pursued sustainable development by advancing both technological leadership and CSR fulfillment. By leveraging its technological advantages, it provides tailored digital solutions to global customers, helping to bridge the digital divide and accelerate digital transformation worldwide. For example, ZTE and Orange have jointly launched the "Enhance Rural Area" project, delivering communications infrastructure to rural regions in Liberia and enabling digital access for more than 580,000 people in remote areas. In Anyang, Henan, the company supported the development of a drone-based blood delivery system, effectively addressing the "last mile" challenge in urban medical logistics. In Hainan, ZTE ensured uninterrupted emergency communications with satellite terminals during Typhoon Yagi. ZTE upholds a people-oriented philosophy. In 2024, ZTE achieved 100% employee training coverage and its ISO 45001 Occupational Health and Safety Management Systems certification now covers offices in 30 countries. In 2024, ZTE carried out 310 regular public welfare activities across various fields, including rural revitalization, education support, and medical and disaster relief. With the joint efforts of 15,000 employee volunteers, the company has provided assistance to over one million people in need, continuously delivering warmth and creating social value. Strengthening Governance to Enhance Corporate Resilience Xie Junshi, EVP and COO of ZTE, states in the report, "Committed to innovation-driven and sustainable development, ZTE has embedded ESG into every aspect of its operations. By harnessing digital and intelligent technologies, we are developing a development model that coexists harmoniously with nature and society, while exploring a path for business continuity in the new era." Integrating sustainable development with its corporate strategies, ZTE aspires to strengthen its core competitiveness with a focus on its vision and three strategic cornerstones—internal control, compliance, and talent. In 2024, ZTE upgraded the corporate governance system and established the Strategy and Sustainability Committee to better incorporate the philosophy of sustainable development into its strategies and business activities. In terms of corporate risk prevention and control, ZTE places particular emphasis on identifying and responding to emerging risks. As AI technology rapidly transforms the world, it brings immense business opportunities while also raising widespread concerns over ethical risks such as privacy infringement and algorithmic bias. To proactively address these challenges, ZTE established the Science and Technology Ethics Committee in 2024, demonstrating high-level organizational commitment to ethical governance. In addition, the company has put in place a technology ethics governance framework to review and assess AI-related R&D projects individually, ensuring the safe, reliable, and inclusive development of AI. As a member of the UN Global Compact and the Global Enabling Sustainability Initiative and a key participant and a pioneer in the Partner2Connect (P2C) Digital Coalition initiated by the International Telecommunication Union, ZTE has received widespread recognition from numerous global authoritative organizations and rating agencies for its exemplary sustainability practices. In 2024, ZTE was recognized with EcoVadis Gold Medal for sustainability excellence. In addition, the company was selected for the S&P Global's Sustainability Yearbook 2024 (China Edition) and honored with the title of "Industry Mover". It was also listed among the 2024 Forbes China ESG 50 list and received the World Internet Conference Distinguished Contribution Award. Furthermore, ZTE won two BDO ESG awards, as well as the LinkedIn MostIn Awards – Global Talent Magnet Employer, among others. Moving forward, ZTE will continue to promote sustainable development globally, leveraging technological innovation and international collaboration to inject digital vitality into efforts toward the United Nations Sustainable Development Goals, working toward a greener, more inclusive, and resilient future.

Korea Herald
4 days ago
- Korea Herald
Noah Holdings and ARK Wealth Outline Strategic Wealth Allocation Framework for Navigating Market Volatility at Financial Forums in Hong Kong
HONG KONG, June 6, 2025 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors, and its internationally focused subsidiary, ARK Wealth Management, delivered key strategic insights on navigating unprecedented market volatility at two premier financial forums in May 2025. Co-Founder and CEO of Noah, Zander Yin, and CFO of Noah and CEO of ARK Hong Kong, Grant Pan, outlined Noah's strategic wealth management framework while addressing the fundamental challenges facing high-net-worth investors in today's complex global environment. Strategic Framework for Market Uncertainty Speaking at the 3rd Greenwich Economic Forum Hong Kong on May 22 and Asian Private Banker's China Global Wealth Summit on May 28, Yin addressed the multipolar order, economic decoupling, and AI disruption: "Our clients face a stark choice: accept investment risk or watch cash erode to inflation. Recent survey data from the tariff-themed private roundtable we recently hosted further supports this with 38% of our entrepreneur clients ranking 'market uncertainty' as their top concern and over 80% prioritizing risk mitigation." To address this, Noah has developed the Strategic Asset Allocation Pyramid Model. This model anchors the base of client portfolios with identity, trust, and wealth preservation and builds upon them with selective long-term growth opportunities in technology and real assets. "After 22 years in wealth management, our mission extends beyond selecting the right products for clients," Yin commented. "We empower them with a smarter, more resilient approach to wealth management through ongoing investor education." Yin also highlighted two core investment principles for navigating volatile markets: maintaining liquidity and agility—the ability to act quickly when opportunities arise, and avoiding emotional traps such as pessimism, fear, and excessive defensiveness, which often erode long-term returns more than strategic missteps. Alternative Investments Drive Growth Alternative investments in private equity, venture capital, and other alternatives now comprise two-thirds of Noah's AUM, driven by Chinese entrepreneurs' appetite for differentiated, long-term strategies. During the China Global Wealth Summit panel "Alternatives in Focus," Yin noted that alternative investments have become a key pillar of Noah's product offerings, not only for returns, but as part of holistic planning. These investments form the top layer of the Strategic Asset Allocation Pyramid Model, representing the long-term growth component that complements the foundational layers of identity, trust, and wealth preservation. He also cited increasing demand for semi-liquid structures like evergreen and multi-strategy funds, which are making alternatives more accessible to private clients. Yin also addressed two persistent challenges Chinese investors face in global alternatives: information asymmetry and cognitive gaps. "If clients don't understand a strategy, they won't invest," Yin explained. "Wealth managers and family office professionals have a duty to bridge that gap through education, transparency, and consistent communication." Geographic Diversification Strategy Pan outlined how current tariff policies are influencing investment decisions among Noah's predominantly entrepreneurial client base at the Greenwich Economic Forum, with 70% being small-to-medium business owners often engaged in international trade. "Clients are increasingly looking to allocate assets to regions other than China and the US—the traditional destinations. This represents a clear mindset shift from pursuit of highest returns to balanced portfolios based on risk perspective—a significant improvement in asset allocation strategy," Pan explained. Pan outlined key strategic recommendations for today's complex environment: Pan also highlighted how these trends directly align with Noah's international expansion strategy with three overseas booking centers currently operational or in development in Shanghai, Hong Kong, Singapore, and the U.S. Noah is evaluating further development opportunities in Europe and the Middle East, subject to regulatory clarity and geopolitical stability. Noah and ARK remain committed to supporting global Chinese high-net-worth investors and family offices through informed, globally connected, and professionally guided wealth solutions. ABOUT THE GREENWICH ECONOMIC FORUM – HONG KONG Set in Asia's largest alternative investment hub, GEF-Hong Kong gathers approximately 300 - 400 C-Suite leaders from finance, business, academia, and policy sectors across global markets. Attendees dive into an intensive day of networking, deal-making, and thought leadership at the premier global conference focusing on alternative investments. This year's forum featured renowned economist Nouriel Roubini, known for predicting the 2008 financial crisis and for his incisive analysis of global macroeconomic risks. His participation underscores the forum's global relevance and intellectual depth. The Greenwich Economic Forum is widely recognized as one of the most influential gatherings in the global investment community. With its roots in the financial epicenter of Greenwich, Connecticut, and successful global editions in London and Hong Kong, GEF fosters frank, off-the-record dialogue among decision-makers shaping the future of capital markets, geopolitics, and sustainable finance. ABOUT CHINA GLOBAL WEALTH SUMMIT The China Global Wealth Summit is a new international conference that will focus on how the wealth management industry in Greater China is adapting to serve the offshore investment and non-financial needs of global Chinese clients. The conference will bring together global and China-based private banks and wealth institutions with their (U)HNW clients. It will feature high-level Keynote Speeches, on-stage interviews and panel discussions that showcase the growth of the offshore Chinese client base, and the investment and non-financial solutions that wealth managers and advisors can bring to the demands of their clients. ABOUT NOAH HOLDINGS LIMITED and ARK Wealth Management Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah's American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol "NOAH," and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code "6686." One ADS represents five ordinary shares, par value $0.00005 per share. ARK Wealth Management, a core subsidiary under Noah Holdings Limited, is a leading provider of global wealth management services, offering one-stop financial solutions for high-net-worth global Chinese families and institutions. With a client-centric philosophy that emphasizes independence and professionalism, ARK consistently innovates its product offerings and services to address the evolving needs of its clients, delivering sophisticated wealth management strategies with a goal of becoming the preferred wealth management platform for global Chinese investors. ARK Wealth Management currently has over USD 8.7 billion in assets under advisement (AUA). With service centers in multiple countries and regions, ARK's team of 140+ global investment advisors focus on providing tailored, localized financial services to clients.

Korea Herald
03-06-2025
- Korea Herald
Fliggy Reports Surge in Quality Travel for 2025 Dragon Boat Festival as Customized Trips Rise Over 50%
Average travel spending on holiday activities grew by 8.8% YoY HANGZHOU, China, June 3, 2025 /PRNewswire/ -- Fliggy, a leading online travel services platform and a wholly-owned subsidiary of Alibaba Group (NYSE: BABA and HKEX: 9988), has released insights into travel trends for the 2025 Dragon Boat Festival holiday, highlighting a sustained demand for high-quality travel experiences. Data shows that bookings for domestic customized tours surged by over 50% year-on-year (YoY), while domestic hotel packages combining accommodation with entertainment and dining options grew by 20%. Travelers demonstrated increased spending power, with average expenses on tickets, camping experiences, and chartered tours rising by 8.8% compared to last year's holiday period. Staycations and cultural experiences on the rise This year, many travelers opted for visits to theme parks or resorts with family and friends. Ticket sales for major attractions and theme parks on the first day of the holiday increased by 25% YoY, while comprehensive packages that included dining and entertainment experienced a remarkable 140% surge in bookings. With southern China entering its rainy season, the hot and humid weather led many travelers to enjoy hotel-based retreats. Properties enhanced their offerings with traditional festival activities, such as making zongzi (glutinous rice dumplings), handcrafting five-color bracelets, and creating aromatic sachets, attracting guests seeking cultural experiences. Among all accommodation types, luxury resorts and boutique homestays recorded particularly strong booking growth during the holiday period. Short-distance travel dominates holiday plans During the three-day holiday, travelers favored short-distance road trips and nearby getaways. According to Fliggy data, domestic car rental bookings jumped by approximately 30% YoY, with flexible pickup and return options proving particularly popular. Top self-drive destinations included Urumqi, Chengdu, Sanya, Haikou, and Beijing. The most popular domestic destinations included Shanghai, Beijing, Hangzhou, Chengdu, Guangzhou, Shenzhen, Nanjing, Chongqing, Xi'an, and Wuhan. Meanwhile, emerging locations such as Beitun (Xinjiang), Jincheng (Shanxi), Qiongzhong (Hainan), Qingyuan (Guangdong), Wuwei (Gansu), Nujiang (Yunnan), Dezhou (Shandong), Fangchenggang (Guangxi), and Kaifeng (Henan) showed the fastest booking growth, alluring travelers with their unique cultural and natural attractions in less crowded environments. For outbound travel, the most sought-after destinations included Japan, South Korea, Hong Kong SAR, Thailand, Malaysia, Vietnam, Singapore, France, Indonesia, and the United States, with short-haul flights (under four hours) being particularly popular. Notably, countries such as Poland, Iceland, Finland, Bhutan, Uzbekistan, Laos, Azerbaijan, Kazakhstan, Tanzania, and Georgia experienced substantial growth in bookings, drawing travelers with their pleasant climates and distinctive cultural offerings. About Fliggy Fliggy is a wholly-owned subsidiary of Alibaba Group (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter)), and is one of the leading online travel platforms in China. Fliggy places a strong emphasis on innovation in its products and services, catering to the increasingly personalized and diversified needs of consumers in both China and overseas markets. Leveraging Fliggy's advantage as part of the Alibaba ecosystem, merchants can benefit from the vast user base within the Group. Fliggy also collaborates with partners through a full-service management format, helping more merchants, especially small and medium-sized ones, easily and efficiently share opportunities enabled by digitalization. Fliggy's long-term strategy is to promote the digital transformation of the tourism industry, using an open platform and mechanisms to help the industry make better use of digital business infrastructure for their operations.