Ping An Insurance recipient of "Most Viable Corporate Award"

Results of the “2004 Most Viable Corporate in China Award” were announced in Beijing on 27 November 2004. With 16 years of extraordinary development, solid corporate governance structure and strong risk management capability, Ping An’s outstanding performance was widely recognized by the judging panel and the public, making it the winner of the award.
At the “Summit on Chinese Corporate Security 2004”, which was held in conjunction with the “Most Viable Corporate Award” ceremony, the judging panel commented that throughout the past 16 years, Ping An has fully demonstrated its growth capability and has realized its development potential. The Company has grown from a small company to a leading financial brand, with annual income and total assets significantly increased from around RMB 4 million and RMB 50 million to over RMB 60 billion and RMB 200 billion respectively. The Company’s contribution to the community was also appraised by the panel, who described Ping An as a strong and energetic company which is capable of providing continuous protection to clients’ lives and future.

The award was initiated and organized by the All-China Federation of Industry & Commerce with China Business Times, All-China Federation of Industry & Commerce Corporate Development and Research Centre as co-organizers. This event was also supported by several academic bodies such as China Europe International Business School and Peking University’s Guanghua School of Management. The objective of the award is to identify and appraise the most energetic companies with continuous development capability. These companies’ healthy, solid and positive images can set examples for other companies in China, which in turn help establish a more mature and nourishing operating environment.

The key judging criteria of the award was the growth rate based on the company’s turnover in the past three years. The panel would also consider other factors such as registered capital, year of establishment, brand value, market share, market awareness of the company’s products and/or services, corporate governance, management’s public image, human resources structure, employees’ loyalty/satisfactory level, marketing and sales system, reliability of distribution channels, crisis management system and capability. Information was collected through questionnaires, web surveys, business associations’ recommendations, interviews, etc, which were then quantified and compared.

Other companies in the final top 10 included China Merchant Bank, China FAW Group, Gome Electrical Appliances Holdings, China Vanke, Chun Lan Group, Qingdao Iron and Steel Group Company, New Hope Group and China Mengniu Dairy Company Ltd.