China Ping 'an was established on April 22nd, 1988, of which Shenzhen Shekou Social Insurance Company holds 5 1% and China Industrial and Commercial Bank Shenzhen Trust and Investment Company holds 49%. At this time, China Ping An is 100% state-owned enterprise.

1992, China ping' an employee stock ownership fund took 0/0% of the shares of China ping' an/kloc-0 in the name of Shenzhen xinhaoshi investment development company, and the remaining 90% of the shares were state-owned.

1994, in the name of introducing foreign capital, China Ping An introduced Goldman Sachs and Morgan to China Ping An (each contributing $35 million, accounting for 5.56% of the shares), which jointly started the dazzling privatization process of China Ping An in 10. At this time, state-owned shares still occupy an absolute dominant position.