On February 12, a delegation led by Wang Yincheng, president of People's Insurance Company of China (PICC) visited Yuchai. Feng Xiangying, member of the Standing Committee of the CPC Yulin Municipal Committee and vice mayor of Yulin City and Yan Ping, chairman of Yuchai Group received and held talks with the delegation.

Yan holds talks with Wang Yincheng (L)

In the talks, Yan first introduced Yuchai's general information. He said, competition in the engine industry has become increasingly fierce, especially competition from domestic brands and world-famous brands, but Yuchai has upgraded technical R & D, product quality and marketing service to constantly enhance corporate competitiveness and further increase its market share. In the context that the country is promoting economic development, transformation and upgrading and has released national IV and V emission regulations, Yuchai has ushered in a new development opportunity and initiated "second startup". Yuchai has planned to build an insurance agency at Yuchai New Industrial City in the future. PICC is a leader in the insurance industry, Yan added, hoping that the two sides will cement exchange and cooperation in the future.

Wang said, PICC's network system has covered 90 percent of domestic towns and is sounder than financial institutions'. PICC has recruited Party branch secretaries of villages and village heads as its coordinators in 260,000 of 590,000 administrative villages across the country. With customer creation as its value, PICC conducts vertical claims management, and pays claims regardless of profit or loss when necessary, to maintain its relations with customers. Yuchai Group is a local pillar industry and a major customer of PICC, he added, hoping that the two sides will continue cementing cooperation.

In the talks, the two sides also exchanged opinions on issues like talent introduction and entrepreneur training mechanism.

(Yang Mingze/Li Wei)