Ping An Wins Best Corporate Citizenship Award

Ping An Insurance Group was one of the winners of “Best Corporate Citizenship in China 2004 Award”, jointly organized by the 21st Century Business Herald and China Europe International Business School. Ping An clinched one of the awards through having followed for the past 16 years its corporate mission -- fulfilling its commitment to its investors, customers, employees and society.
Corporate citizenship, a concept widely followed and practiced by large multinational companies, regards an enterprise as an individual, a citizen within a society. Unlike regular business awards, the Corporate Citizenship Award looks at an enterprise and assesses how a company’s business impacts on those people whose lives are being affected. The criteria include a sense of responsibility, morality, trustworthiness, and stable development with a long-term vision. Different from other business awards, “Best Corporate Citizenship in China 2004” is a comprehensive assessment to the management and social morality of a company, which builds up a new standard for the success of an enterprise.

The judging panel at “Best Corporate Citizenship in China 2004” was specially impressed by Ping An’s unique corporate citizenship model, praising the Company in the areas of consumer rights, community environmental policy, charity and education.

Commenting on this recent accolade, Ping An Insurance Group’s Deputy General Manager, Mr. Sun Jianyi , said: “As a financial insurance enterprise dedicated in adding value for our shareholders and customers, Ping An also strives for good corporate governance as well as innovative management. At the same time, being an enterprise with a keen sense of social responsibility and strong vision, Ping An will continue to explore new development models which will allow business and the society to grow and co-exist harmoniously.

Ping An’s Corporate Citizenship Model, a guiding management principle within the Company, contains six key components, with charity and education being the core of this model. In recent years, Ping An has been recognized for its active involvement in various charitable works with the Red Cross Society of China, including a donation of 38 blood-donation vehicles in May 2002, and thereafter setting up an internal blood bank and an “Blood Donation Month” held annually. In March 2004, Ping An began to insure those who donated hemopoietic stem cells against accidents as well as critical illnesses, with insurance amount totaling over RMB100 million. As early as 1993, the Company established its fund for “Project Hope”, a project that puts underprivileged children through primary education. So far, the Company has built 35 Hope Primary Schools all over China. Ping An has also awarded study grants worth over RMB 1 million to exceptional college students nationwide who study finance and insurance, but need financial assistance.

Standing on the award podium sharing the accolade together with Ping An include other outstanding enterprises, including General Electric, Ford, Nokia, Motorola, Cisco, L’Oreal, Vanke, and Dongfeng Peugeot Citroen Automobile.

Launched for the first time, the “Best Corporate Citizenship in China 2004” has six award categories, including corporate governance and moral value; employee rights protection; environmental protection; community charitable enterprise; supply chain partner relationship; and consumer rights protection. 13 “Best Corporate Citizen” finalists were chosen, all of whom represent best-practice models for the above categories.