On 21st January 2015, the two sides agreed to develop businesses in insurance, investment and financing and overseas market. Prior to this, China Taiping and CEFC China have been collaborating on projects such as Shanghai Global Buyout Fund and Shanghai Financial Asset Exchange.
China Taiping Chairman Wang Bin, Deputy General Manager Peng Wei, Assistant to General Manager Jiao Yan Jun, CFO Li Tao and CEFC China Chairman Ye Jian Ming and the fellow business leaders presented the signing ceremony.
CEFC China is a Fortune 500 company with a total workforce of 20,000. Regional subsidiaries and offices are operating across the globe, including the US, the UK, Canada, Mexico, Russia, the UAE, Indonesia, Singapore, Albania, South Korea, Japan, Taiwan and Hong Kong. CEFC China work in strategic partnership with multiple state-owned petroleum corporations in Latin America, the Middle East, Central Asia and South Europe, to build commercial storage and transhipment stations overseas for petrochemical products and participate in oil and gas exploitation in the Middle East, Central Asia and other regions. CEFC China own a securities company, a finance company and a financial asset company, purchasing or controlling shares in such financial institutions as trust, insurance and banks. CEFC China is also a co-founder of Bank of Hainan.