On 29th of May, London Mayor Boris Johnson has officially signed the contract with the Chairman of ABP China Holding Group Mr. Xu Weiping a £1bn project at London's Royal Albert Docklands site. The project aims at creating a Chinese Business District at the area in what is hoped will lead to a revival of the local area. Chinese Ambassador Mr. Liu Xiaoming attended the signing ceremony as well.
This project is by far the largest investment of Chinese enterprises in the UK. During the ceremony, Mr. Geng Jinhai, the CEO of China Taiping (UK) Co., Ltd and Mr. Xu weiping, the Chairman of ABP China Holding Group has approached to an important consensus. Mr. Xu emphasis that, there are many insurance companies, brokers and agents were compete for the insurance business of this project, however, after careful consideration, the decision has been made that they will choose China Taiping (UK) as the lead coordinator of project insurance arrangements. Bilateral cooperation has also been affirmed and supported by the Chinese Ambassador Mr. Liu Xiaoming.
Since the end of last year, the management team of China Taiping Insurance had numerous contacts and communication with ABP China Holding Group, the two sides established a good basis of trust! Recently, China Taiping Insurance (UK) has officially signed the Memorandum of Understanding with ABP China Holding Group, which represents that the co-operation of the two has officially stepped into another level! It has been estimated that, China Taiping will soon be the underwriting this project's first insurance business!