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Ping An Presents Poverty Alleviation Model at Davos Forum on Sustainable Development

Vlad Poptamas

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Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) presented its smart poverty alleviation model and its environmental, social and governance (ESG) management system at the World Economic Forum Annual Meeting 2020 in Davos.

The theme of this year’s Davos Forum is “Stakeholders for a Cohesive and Sustainable World”, with poverty alleviation as one of the key topics. In implementing its poverty alleviation strategy, Ping An has developed various poverty alleviation models for specific industries, such as the Ping An “Poverty Alleviation Insurance Scheme” and the “Hydropower Support Scheme”.

The Ping An “Poverty Alleviation Insurance Scheme” is the first financial poverty alleviation model that leverages insurance innovation to drive industrial development in impoverished areas and accurately connects impoverished households. By implementing the “credit guarantee insurance + interest subsidy” model, risk can be shared with the government and banks, thus lowering the financing threshold for the development of local specific industries and encouraging poor households to increase production and income. To date, this model has already supported 70 projects in 13 provinces, providing poverty alleviation funds of RMB490 million in total, which has increased the annual per capita income of 46,000 low-income people by more than RMB2,000.

China has more than 700 impoverished counties with hydropower resources, but the development of hydropower is restricted due to various reasons such as lack of scale, difficulties in financing, insufficient development capacity and high policy hurdles. By collaborating with multiple hydropower companies under the dual model of “poverty alleviation loan + poverty alleviation corporate bond”, Ping An has built an integrated hydropower poverty alleviation ecosystem that incorporates “infrastructure, energy supply, empowerment and cultivation”, thus turning dormant hydropower resources in rural areas into an advantage for regional development. To date, the “Hydropower Support Scheme” has distributed poverty alleviation funds of RMB3.98 billion and assisted enterprises in hiring more than 2,000 temporary employees, which has benefited 100,000 low-income households.

Regarding financial inclusion, Ping An continues to expand credit channels in order to innovate, develop and introduce differentiated financial inclusion products. It provides “Benefiting Farmers” loans to entrepreneurs in rural areas and offers interest-free loans to female leaders of rural cooperatives in impoverished areas, in order to help women and their families move out of poverty. As of 31 December 2019Ping An had distributed RMB50.65 million in “Benefiting Farmers” loans and funds to rural areas, and directly supported 555 rural households and covered 38 counties. The projects covered a variety of agricultural types such as crop farming, husbandry and forestry.

Currently, Ping An’s “Rural Communities Support” programs have been implemented in 21 provinces or autonomous regions across China, and have provided an accumulated poverty alleviation fund of RMB15.8 billion, upgraded 949 rural clinics, trained 11,175 village doctors, constructed 1,054 Smart Primary Schools, and trained 11,826 village teachers, setting the benchmark for poverty alleviation in China.

Chen Yao, Executive Deputy Director of Ping An’s Poverty Alleviation Office said, “Ping An continues to push the poverty eradication strategy, and has developed an innovative poverty alleviation model which includes ‘education and training, industry cultivation, one product per village, production and sales empowerment’, to further boost smart poverty alleviation in three directions: industry, health care and education in impoverished areas. Ping An will continue to promote smart poverty alleviation, fulfill corporate social responsibilities, foster social harmony and progression, and ensure the long-term sustainable development of the Group.”

In order to join forces within different sectors of society to implement sustainable development, Ping An combines its diversified businesses and promotes refined ESG operations that meet international standards and sets domestic benchmarks. It includes core topics such as a business code of conduct, corporate governance, responsible investment, sustainable insurance, information security, artificial intelligence (AI) governance, sustainable supply chain, and the 2030 United Nations Sustainable Development Goals. By publicly disclosing its policies and commitments in different areas, and with a professional management system to ensure efficient internal and external execution, Ping An has established leadership and influence in ESG area.

Ping An’s ESG development model and achievements have set many industry records and have been recognized by internationally renowned organizations. Ping An is the first asset owner in China to become a signatory to the United Nations-supported Principles for Responsible Investment, the first among A-shares companies to build an all-round ESG management system, and the first to establish an AI-ESG platform in the world. It is also the first asset owner in China to join Climate Action 100+ and the first insurance company in China to be selected for the Dow Jones Sustainability Emerging Markets Index.

 

SOURCE Ping An Insurance Group Ltd.

Artificial Intelligence

Europe AI in Social Media Market By Component, By Technology, By Organization Size, By Application, By End User Industry, By Country, Competition, Forecast & Opportunities, 2025

GlobeNewswire

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New York, July 01, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe AI in Social Media Market By Component, By Technology, By Organization Size, By Application, By End User Industry, By Country, Competition, Forecast & Opportunities, 2025” – https://www.reportlinker.com/p05916824/?utm_source=GNWClare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

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ABQQ Announces Plan of Opening its North America Operation Offices in NYC in October 2020

GlobeNewswire

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HONG KONG and NEW YORK, July 01, 2020 (GLOBE NEWSWIRE) — AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm announces its North America operation offices will be opening in October 2020. The North America operation office will be located in New York City, and will be headed by the Chief Investment Officer, who will be recruited in NYC. The office will be operating the company’s main business: acquisitions in IP and film copyrights; also planning to provide TV dramas and films to broadcast on video streaming websites worldwide, starting December 2020.
About AB International Group Corp. 
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People’s Republic of China. We had launched a business application through smartphones and official social media accounts based on WeChat platform in February 2019, utilizing Artificial Intelligence, it is a matching platform for performers, advertiser merchants, and owners for more efficient services. It generates revenues through an agency service fee from each matched performance.

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LSU CS Professor Studies COVID-19 Disparities on Social Media

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BATON ROUGE, La., July 01, 2020 (GLOBE NEWSWIRE) — During the COVID-19 pandemic, a plethora of information has gone out from various news sources about how the virus is being tracked, how it is spread, how many cases exist, and so forth. The problem is much of this vital information can be inaccurate, leaving people to ignore advice from public officials. For this reason, LSU Computer Science and Engineering Assistant Professor Kisung Lee and LSU Environmental Sciences Professor Nina Lam are evaluating how a population reacts to multiple sources of information, hoping to eliminate disparities in the messaging.“Studying different COVID-19 responses to trustworthy information will contribute new perspectives and improve our fundamental understanding of the human aspects of information trustworthiness during a pandemic,” Lee said.Lee, principal investigator on the project, and Lam recently received a $200,000 grant from the National Science Foundation for the project and will have University of Washington Center for Studies in Demography & Ecology Director Sara Curran and Cybersecurity Research Fellow Jessica Beyer work alongside them.Lee will collect and analyze Twitter and linked media data using artificial intelligence-based techniques; Lam will map the data into administrative regions and analyze the data geographically (state- and county-level comparisons); and Curran and Beyer will collect policy and media source trustworthiness data and analyze it with other contextual information, such as media framing. Data will be collected and analyzed in Louisiana and Washington.They will collect three waves of Twitter and associated data to compare sentiment and language use patterns among users and analyze how these characteristics evolve through the recognition of the emergency, the peak of the crisis, and the mitigation of the pandemic in the U.S. The tweets and entities will be classified for relevance (individual, organization, or bot) with derived age and location. The tweets will be associated with daily disease-specific rates and annual demographic and socio-economic information.“Data about the surrounding information context, including reporting trends and framing of the crisis, sources of health information, and information-seeking behavior about COVID-19, will provide tools for assessing the validity and reliability of our inferences about the patterns of sentiment and language use,” Lee said. “This project will provide insight for targeting effective public messaging by public health and government officials during a crisis and ultimately improve disaster resilience.”Like us on Facebook (@lsuengineering) or follow us on Twitter and Instagram (@lsuengineering).​Josh Duplechain
LSU College of Engineering
225-578-5706
josh@lsu.edu

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