What’s the story: Ping An Insurance (Group) is gearing up to take on mainland China’s internet giants, while pursuing international expansion, under its audacious plan to become a full-fledged technology company.
Why it matters: Ping An is China’s second-largest life insurer, with more policy holders than the population of Japan.
It’s also one of the industry’s most innovative, expanding both its size and its business scope in leaps and bounds since its establishment in 1988.
Its ambitions to now turn itself into a technology company, making use of its huge customer base, underscores the innovativeness of Chinese companies, with the huge population as their advantage.
What’s the story: Volkswagen AG, the world’s largest carmaker and one of the earliest foreign automotive investors in China is banking on the biggest vehicle market on the planet to drive its ambitions in developing electric cars.
The assembler of the “People’s car” has set a target to sell 1 million electric cars by 2025, and the Chinese market is a major driver of that growth.