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As a comprehensive financial enterprise, the People’s Insurance Company (Group) of China (PICC) is one of the world’s largest insurance companies, with more than 10 subsidiaries, including the PICC Property and Casualty Company Limited and PICC Life Insurance Company Limited. PICC ranked 110th in the list of Fortune Global 500 Companies in 2022.

In June 2020, Luohu District organized three PICC subsidiaries to channel 4.94 billion yuan to establish PICC Real Estate (Shenzhen) Co., Ltd., and named Building A of the Business Solicit Central in Sungang Sub-district the “PICC Financial Building.” It has become the major project of the Hongling Emerging Financial Industrial Belt in Luohu District.

Currently, several PICC municipal subsidiaries have moved into the building and made important contributions to the promotion of economic growth and ensuring stable employment in Shenzhen.