The vision of Ping An (PA) is to grow into a world-class finance and insurance group, becoming one of the shops of a century's standing among international finance and insurance players. A review of existing businesses with over 100 years' history will reveal the importance of integrity. Integrity has helped every one of these businesses to overcome adversity. It is particularly true with world finance and insurance groups. Therefore, if PA wants to sustain a century, it will have to hold integrity as its sole principle.
PA is an innovative enterprise. We are the first person to try tomato. Getting poisoned by tomatoes is not dreadful at all. The key is that we draw lessons from the endeavor.
Before China's entry to WTO, the insurance market in China was like a tranquil river. Now the openness of the market has turned the small river into a wavy ocean. We are now competing with the best-in-class international finance and insurance groups. The underlying rule of game in this ocean is market-orientation guided by integrity.
PA is now an aircraft carrier in this ocean. We are not only a disciplined carrier, but also one that is storm-resistant. Because we own an unmatched combination of resources: an excellent sales and management team, a strong IT platform, an effective internal control system, an efficient management scheme, affluent capital, the best-in-Asia asset quality, and the best-in-China insurance brand. Last year, PA was accredited the AAA financial institution, being the only one in China. In the latest release of Standard Poor's Global Big Insurance Companies 2002, PA was again the only Chinese insurance company to be listed. And according to Standard Poor's rating, PA ranks the 20th in the global context.
I have two expectations—one is to build PA into the best-in-class insurance company with regard to professional ethics by joining hands with my colleagues within my lifetime and thus lays a solid foundation for the centennial mission; the other is to establish integrity in every aspect of our offering in PA, making it the root of our business and grow ever stronger. Indeed, integrity is the lifeline of PA and the ground rule of our operation. A centennial shop will only come true with integrity in place at the very beginning.