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Ping An Insurance Co.

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HSBC Holdings Plc has confirmed that it is negotiating the sale of its 15.6 percent stake in China’s Ping An Insurance Co., which is worth approximately $9 billion, as it tries to boost its profitability. On the 19th of November, shares of HSBC grew approximately 1.4 percent in Hong Kong after the biggest Europe’s bank informed about its plans to sell stakes in China’s second-biggest insurer.

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