Is Qianhai Property Insurance a formal insurance?

Yes, Qianhai Property Insurance is a national insurance company approved by the China Insurance Regulatory Commission, with a registered capital of 654.38 billion yuan. Its shareholders mainly include Shenzhen Qianhai Financial Holdings Limited and Hong Kong listed company HSBC Holdings Limited. All newly established insurance companies need to be approved before they can start business, and Qianhai Property Insurance is no exception. At the beginning of its establishment, it has obtained the necessary approval documents and business licenses, and legally operated in China.