China's Ping An investment tilt to Shanghai

--an interview with the executive director of China Ping An insurance group, general manager Zhang Zixin 40 Zhang Zixin has the legendary color of others envy.　　After years of study at Cambridge, a global partner at McKinsey, a "corporate doctor", he made "the pulse of the Knife" for Asian financial institutions, with dozens of of revelations of corporate reform as a footnote to its success. 1996 because of "diagnosis" of China's Peace and MA, 2000 he began to report to work.　　China Ping An 20-year plan in the 10 years, because the first foreign general manager and change.　　May 16 Afternoon, came to participate in the "2009 Lujiazui Forum" Zhang Zixin in Shanghai to accept the Shanghai Securities newspaper exclusive interview, he will build an international financial center in Shanghai and the confidence of the peace out of the haze and focus on the domestic, carefully layout of the Shanghai strategy.　　The road of comprehensive finance is not the same as safe and sound Shanghai Securities Daily: The collapse of the financial crisis are integrated financial giants, China's comprehensive operation of the road to continue to go? Zhang Zixin: Comprehensive business model, after the impact of the financial turmoil can continue? I would like to emphasize that the comprehensive operation of this road, China is not the same safe way.　　The collapse of the financial giants are mostly due to mergers and acquisitions, and the peaceful development of the comprehensive financial model, not through large-scale mergers and acquisitions, but through their own exploration and development. We note that the financial turmoil has been the problem of high leverage, credit securitization business, the current peace of the business does not have this kind of business.　　Our only investment in global systemic risk is fortis, which is a valuable experience and wealth to us, and we are now fully prepared for impairment and the negative effects have been fully released. In addition, some countries have not been able to effectively regulate financial innovation, so that regulation can not keep pace with innovation, this crisis is one of the main reasons. But China's regulators have been relying on risk prevention, prudence and stability to improve the regulatory environment gradually, and we believe this will help to avert a similar crisis in China.　　Therefore, the integrated business model itself is very consistent with China's current development opportunities, long-term is also sustainable competitiveness, we believe that this comprehensive model in the future there is a lot of room for development.　　Shanghai Securities Daily: What are your suggestions for the future of Shanghai as an international financial centre, especially the role of the insurance industry in this process? Zhang Zixin: I think there are many advantages in Shanghai's commitment to building an international financial centre. In the past 20 years, the development of Shanghai Financial industry has a good foundation, including policy, regulation, regulation, environment and so on. In addition, the positioning of the renminbi itself is gradually changing, in the process of gradual internationalization of the renminbi, Shanghai can also play the lead role. And in the introduction and training of talent, I think the main focus is to cultivate local financial talents to adapt to the increasingly international market operation, of course, also need to bring overseas talents to create a better career, life, cultural exchanges and other environment, in this regard, Shanghai has changed a lot in the past few years. As far as the insurance industry is concerned, the role of the current financial operation system in China may not be able to keep up with more space in product innovation, fund utilization, and welfare insurance in the future.　　The insurance industry itself is not independent existence and development, it will with the bank, securities, asset Management There are many benign interaction, this interaction will be more and more in the future.　　Shanghai Securities Daily: China Ping An is the first "Shanghai two headquarters" concept of insurance companies, Shanghai in the peace of the role of the national layout? Zhang Zixin: Shanghai has always been one of our most important markets, in investment channels, talent training, product innovation, we are all laid out in Shanghai.　　We have millions of customers in Shanghai, at present we have 5,000 employees in the Back-up Center in Zhangjiang, Shanghai, and more than 3,000 people in other categories. At the same time, Shanghai will be an important base for our capital operation, which has been shown in the investment sector, and our asset management company is located in Shanghai. Product innovation, our pensions, health insurance companies, as well as life insurance, insurance business management, sales channels, service departments are also arranged in Shanghai.　　It can be said that peace in Shanghai has many years of foundation.　　Multi-line layout investment Shanghai Securities newspaper: In the near future, the investment focus of Ping An will be placed in which areas? Zhang Zixin: In the near future, we must take the fixed income investment as the main, cooperate with the CIRC to widen the infrastructure investment policy, grasp the investment opportunity of the creditor's rights and equity, diversify the investment risk and optimize the portfolio. Of course, as the stock market gradually warmed up, we will also see the opportunity to moderately increase, but at present not suitable for caries Shanghai Securities newspaper: The recent rumors of peace in a large number of selling Minsheng bank stocks? Will it participate in the directional additional issue of Pudong Bank?　　The second half of the stock operation strategy? Zhang Zixin: We think the stock market will have some volatility this year, after all, the economic fundamentals have not fully recovered, although China's situation is not bad, but after all, the global economy needs a recovery process, so the market fluctuations are inevitable.　　We still take a cautious part in the main, grasp some opportunities for opening up. (The recent sell-off of Minsheng stock) This is a normal warehouse behavior, for different sectors of the plate, we will do some of the market to add or lower matching measures.　　As to whether to participate in the Pudong Bank's directional additional issue, the time to see the situation. Shanghai Securities Daily: In the investment area that the CIRC is about to open up, real estate is also ranked among them.　　What are the layouts of peace in this respect? Zhang Zixin: We are closely watching, the CIRC in the process of formulating relevant policies, also consulted the insurance company's views. Over the past decade, we have accumulated investment experience in commercial real estate through the platform of Ping An trust, which manages third party assets, and we currently have more than 100 people in the pool.　　We are still focused on office and mall Investment, we will have some attempts to invest in the hotel. Shanghai Securities Daily: PE is also going to be considered to open up a big area, peace has always attached great importance to this piece,Can you outline the specific framework?　　How to view the investment opportunities of gem? Zhang Zixin: In two ways, on the one hand, the Peace Trust under a PE team, mainly the management of third-party assets, in the Peace Trust service customers have a lot of investment in PE needs; On the other hand, Ping an asset management company to use insurance funds, is currently doing the preparation of the relevant PE business,　　is stockpiling talent and developing regulatory mechanisms, and exploring opportunities in the marketplace for investment in insurance funds. If the future of ping an securities customers also have this demand, then we do not rule out the operation of Ping an securities under the PE investment.　　In the entire ping an PE investment structure, do not exclude the peace trust can assume greater responsibility, the relevant experience of Ping An trust can be shared. We have been concerned about the investment opportunities of gem. In our service customers, there are some suitable to the gem financing enterprises, we are also helping them to do a positive preparation. The main thing is to look at the specific arrangements of the future SFC, I think there are quite good investment opportunities.