People's Insurance Service signed a strategic cooperation memorandum with Xinyi, and the two sides will cooperate in blockchain and other aspects.

According to the Securities Times News, PICC Financial Services Co., Ltd. recently signed a strategic cooperation memorandum with the world-renowned artificial intelligence (AI) platform Xining Artificial Intelligence Foundation (SingularityNET) to establish a global strategic partnership. In the future, the two sides will play their respective advantageous resources and carry out in-depth cooperation in artificial intelligence and blockchain to explore innovative solutions and applications for the financial technology market. It is reported that PICC is a wholly-owned subsidiary of the People's Insurance Group of China with a registered capital of RMB 1 billion. It is the first financial services company approved by the China Insurance Regulatory Commission.