China Ping An Trust & Investment Co., Ltd. part of the Ping An Insurance (Group) Company Of China, Ltd. has cooperated with Sichuan Jinhong Group to jointly set up a new hotel investment management company.
China Ping An Trust & Investment Co., Ltd. has said that it will invest RMB1.8 billion in the new company to develop Chengdu's hotel investment, real estate, and property management markets. Since 2007, the company has taken over several investment projects of star-grade hotels and holiday hotels to cater for the business opportunities that the 2008 Olympic Games will bring.
Founded in December 2006, Jinhong Group is managed by the State-owned Assets Supervision and Administration Commission of the Sichuan Provincial Government and owns 125 hotels, inns, rest houses, and training centers.
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