Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or "the Group"), a key member of the China Smart City Development Alliance, has made significant progress in the establishment of smart cities. The Group recently inked a strategic cooperation agreement with the Management Committee of Hengqin New District, Zhuhai city, Guangdong province. Under the terms of the agreement, the two parties plan to initiate a close collaboration in several fields, including the building of smart cities and innovation in the financial sector. Hengqin New District party committee secretary Niu Jing, Zhuhai Municipal Government deputy secretary-general Zhou Xichuan, TAN Sin Yin, Executive Vice President of Ping An Group, and Ericson Chan, CEO of Ping An Technology attended the signing ceremony. Ericson Chan, on behalf of Ping An, inked the agreement with the representative of Hengqin New District.

Full cooperation between several parties is needed to successfully create a smart city. In terms of technological prowess, Ping An Technology, the hi-tech arm of the Group, has extensive application experience in AI, big data, cloud computing, blockchain and intelligent security, providing the strong technical support for the Group's continuing effort in driving the development of smart cities

The Ping An Technology CEO said, "We mainly focus on technological applications for smart cities, especially ones that enhance the efficiency of the government and the experience of the people who reside there. We have already developed many technical application scenarios. In addition, we have introduced many technologies across a variety of scenarios, such as education and security. These practical experiences are now the soft power we need to establish smart cities."

As part of the cooperation, Ping An plans to team up with Hengqin New District to establish a system-wide project that includes comprehensive city or district management and citizen service functions through a fully digital, smart and integrated urban management system created by leveraging advanced technologies. The two parties will collaborate in the handling of government affairs and in assuring a positive experience for the smart city's residents, including access to the three main branches of government via a financial cloud, a medical insurance cloud, a social insurance cloud, a citizen's card, a public security cloud and an education service management cloud, optimizing the overall management of the city while significantly enhancing service efficiency and quality.

The newly-formed cooperation between the financial giant and the municipal government is based on the advanced technologies. Ping An Technology will play a more active role in the effort. The smart city cloud, created by Ping An Technology to drive the Group's smart city development efforts, can meet all the needs for the build out of the city. From a macro point of view, Ping An Technology's Smart City Cloud is designed for urban governance and public service, while, from a micro point of view, it is aimed at enhancing management in eight aspects of government affairs: finance, security, healthcare, education, real estate, environmental protection and community life.

In some of the application scenarios where smart technology has matured, the technological prowess demonstrated by Ping An Technology has had a deep and positive effect on day-to-day urban living. The smart disease prediction model jointly developed with the Health and Family Planning Commission of Shenzhen Municipality and the Chongqing Center for Disease Control and Prevention has achieved outstanding results in the prediction of infectious diseases and in the risk factor screening of chronic diseases, successfully predicting the incidence of infectious diseases one week in advance with an over 90 percent accuracy rate. In the recent prevention and control of an influenza outbreak in Shenzhen, Ping An Technology's AI+ big data influenza prediction model accurately forecast the scenario for the epidemic over the subsequent seven days. The combination of effective prevention and control in the city led to the happy result of no one in the city dying due to contracting influenza.

The cooperation with Hengqin New District was another great opportunity to practice and expand the application of the technology in the construction of the smart city. Ping An Technology plans to join hands with the Group's other subsidiaries, among them Ping An Bank, Ping An Puhui Enterprise Management, Ping An Real Estate, to build an even more harmonious, esthetic and intelligent new urban model for Hengqin New District.

About Ping An Technology

Ping An Technology, a wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd., is committed to creating a cloud-based environment for people via the application of biometrics, artificial intelligence, big data, cloud computing, block chain, intelligent security and other cutting edge technologies. As the high technology arm and incubator of the Group, Ping An Technology is responsible for developing and managing the Group's key platforms and services. In addition, by means of smart technologies, Ping An Technology has empowered whole industries with scientific and technological capabilities, and applied technical capabilities certified by international authorities to scenarios across a wide array of industries. At present, Ping An Technology has formed a cloud ecosystem that encompasses finance, healthcare, education, security, agriculture and entertainment, as well as other sectors, fulfilling the corporate mission encapsulated in the corporate philosophy: "Technology Changes Our Life".

A senior research and development team of more than 4,000 professional IT technicians and management experts provide strong technical support for the stable and reliable operation of the platform. The current cloud ecosystem currently supports more than 400 million Internet users.

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