First China Corporate Bond UCITS Fund launched in China by Ping An and Queensland Investment Corporation

HONG KONG and SHANGHAI,Sept. 23,2019 -- Ping An Insurance (Group) Company of China,Ltd. (hereafter "Ping An" or the "Group",HKEX: 2318; SSE: 601318) is pleased to announce that Ping An Asset Management Co.,Ltd. (PAAMC) has jointly launched the QIC-Ping An China Corporate Bond Fund with Queensland Investment Corporation (QIC). This is the first Undertakings for Collective Investment in Transferable Securities (UCITS) fund approved by the Central Bank of Ireland to focus on Chinese corporate bonds.

First China corporate bond UCITS Fund launched in China by Ping An and Queensland Investment Corporation

Jackie Trad,Queensland Deputy Premier and Treasurer and Damien Frawley,Chief Executive Officer of QIC,joined Alex Ren,Ping An Group President and Jack Wan,Chairman of PAAMC,at the launch ceremony.

The product is issued offshore and denominated in renminbi (RMB). Its performance benchmark is the FTSE Chinese (Onshore CNY) Broad Bond Index--Interbank,China,Corporate. Its investment objective is to provide investors with returns in excess of the performance benchmark. For offshore institutions that need to hold Chinese onshore bonds and offshore Chinese institutions that hope to increase yields on offshore funds,the fund provides opportunities to invest in China's bond market with convenience,efficiency and controllable risks.

Committed to creating strong returns for investors,the fund follows a global fixed-income and currency management strategy,aims to increase incomes through offshore opportunistic investments,and conducts effective risk hedging through cross-market investments.

Mr. Ren,President of Ping An Group said,"The issuance of the fund provides a bridge for investment cooperation between Chinese and foreign capital markets. Ping An will strengthen international cooperation and mutual recognition,and continue to create value and return for our clients."

Mr. Wan,Chairman of PAAMC said,"We feel greatly honored to partner with QIC on the first UCITS fund focused on Chinese corporate bonds to be launched in China. It will provide global investors with access to China's bond market,increase the influence of Chinese bonds,and promote the internationalization of RMB. We are happy to see such interactions. We hope to work more closely with QIC to launch more products and services that meet customer demands."

Mr. Frawley,added,"The fund is a milestone as Australia's first UCITS fund investing in Chinese corporate bonds. China's fast-growing bond market is very attractive to foreign investors. By partnering with Ping An,we hope to get closer to the Chinese market and help investors learn more about China."

NOTE TO EDITOR

Undertakings for Collective Investment in Transferable Securities (UCITS)

UCITS established in Ireland are authorized under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 ("the UCITS Regulations"). The UCITS Regulations,which transpose Council Directive 2009/65/EC,Commission Directive 2010/43/EC and Commission Directive 2010/44/EC into Irish law,have been in effect since 1 July 2011.

About Ping An Group

Ping An Insurance (Group) Company of China,Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With 196 million retail customers and 576 million Internet users,Ping An is one of the largest financial services companies in the world.

Ping An has two over-arching strategies,"pan financial assets" and "pan healthcare," which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services,health care,auto services,real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company,Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.

PingAnranked 7th on the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th on the 2019 WPP Millward Brown BrandZ(TM) Top 100 Most Valuable Global Brands list. For more information,please visitwww.pingan.cn.

About Ping An Asset Management (PAAMC)

Ping An Asset Management Co.,Ltd. ("PAAMC") was established in 2005 in Shanghai. The company possesses capabilities in cross-market asset allocation and investment in a comprehensive product variety. By the end of June 2019,PAAMC has more than RMB 3.12 trillion (US$440billion) assets under management. It is one of the largest and most influential institutional investors both in China domestic capital and non-capital markets.

Facing the increasingly open and mature market environment,PAAMC is committed to creating value through professionalism and providing one-stop,all-round asset management services and solutions. At the same time,PAAMC advocates technology empowerment investment,hoping to become China's leading technology-based asset management company.

About Queensland Investment Corporation (QIC)

QIC is one of the largest institutional investment managers in Australia .It is a leading specialist manager in niche alternatives with over 110 top tier institutional clients spanning Australia,U.S.,Europe,Asia and Middle East and US$56 billion funds under management. QIC was founded in 1991 by the Queensland state government in Australia to serve its long-term investment responsibilities.

QIC's beginnings as a principal investor enabled them to develop their expertise in managing long-term investments with a strong focus balancing risk and return. Their local and global networks gives them access to quality alternative (non-public private) assets with a focus on infrastructure (including utilities),real estate and private capital. QIC also specialize in liquid market solutions,providing multi-asset solutions,liquid alternatives,active fixed interest and currency overlays for their clients.

QIC's long-term investor mindset informs everything they do and has enabled them to become a visionary asset manager.

For enquiries,please contact:

Gareth Hewett @ +852 68822027 or gareth.john@pingan.com.hk

Cecile Zhang @ +852 66813178 or cecile.zhang@pingan.com.hk

Photo - https://photos.prnasia.com/prnh/20190923/2588727-1?lang=0