On May 18th, the two-day 2025 Tsinghua PBC School Global Finance Forum was successfully held in Shenzhen. Jia Yanjing, the General Manager of the Banking Division of Oneconnect Financial Technology and Secretary-General of the Small and Medium-sized Banks Alliance, attended the eighth thematic discussion meeting of the event. She introduced Ping An Group’s continuous technological investment and innovation accumulation, highlighting how digitalization empowers financial institutions to enhance the quality and efficiency of serving science and technology innovation enterprises.
Ping An Group invests billions of yuan annually in technological research and development, employing over 3,000 scientists and more than 21,000 scientific researchers. The group has applied for 55,080 patents. Projects such as the new core system of Ping An Bank Credit Card A+, the digital transformation project of property insurance, and the construction of a new “digital and intelligent” claims settlement model have won multiple first prizes of the Golden Development Award from the People’s Bank of China. The ecological application effect of technology is remarkable, with Ping An’s AI service coverage rate reaching 80%, and the second-level life insurance policy underwriting accounting for 93%.
In recent years, the financing difficulties faced by small and medium-sized technology enterprises in China have become increasingly prominent. Jia Yanjing shared insights on how financial institutions can better help science and technology innovation enterprises avoid risks and improve service quality and efficiency, based on Ping An Group’s practical experience.
Ping An Group is a leading financial institution serving small and medium-sized science and technology innovation enterprises in the “last mile.” In 2024, it invested over 1 trillion yuan in insurance funds to serve the science and technology innovation industry, cumulatively investing 10.14 trillion yuan to support the development of the real economy.
Based on Ping An’s experience, Jia Yanjing summarized three common pain points of science and technology innovation enterprises:
Reluctance to Purchase Insurance: Fear of getting into trouble.
Uncertainty in R&D and Innovation: High-risk stages in research and development.
Incomplete Multi-Dimensional Credit System: Lack of a comprehensive credit evaluation system.
To address these pain points, Jia Yanjing proposed a three-in-one strategic framework for financial institutions to serve science and technology innovation enterprises: “intelligent real-time risk control, data value reconstruction, and patent valuation.”
Intelligent Real-Time Risk Control
Deploying intelligent infrastructure, technologies such as the Internet of Things (IoT), artificial intelligence, and blockchain play a crucial role in risk management. There are approximately billions of IoT devices nationwide, capable of real-time monitoring of the safety management process of enterprises’ production and operations. Millisecond-level data collection can improve risk identification efficiency by over 40%. This not only helps financial institutions provide corresponding insurance protection services but also benefits enterprises in high-risk R&D and testing stages, avoiding issues caused by fear of trouble.
Data Value Reconstruction
The effective accumulation of rich and vast data by enterprises is beneficial for the risk management of financial institutions. Moreover, the effective accumulation of patent intellectual property rights by science and technology innovation enterprises provides a more robust basis for valuation, especially for solving the valuation problems of technology-based light-asset enterprises.
Patent Valuation
Jia Yanjing suggested that financial institutions should closely follow the country’s major strategies, such as building a financial power and a science and technology power. By leveraging the driving force of comprehensive finance and technological innovation, financial institutions can contribute to the transformation from “Made in China” to “Created in China.” Ping An Group has been actively practicing the application technologies and solutions it has obtained in areas such as technology finance, digital finance, and inclusive finance. These solutions support business with technology and are provided to small and medium-sized financial institutions both domestically and internationally through Oneconnect Financial Technology, empowering the digital transformation of financial institutions.
Summary
Jia Yanjing’s insights highlight the importance of digitalization in empowering financial institutions to better serve science and technology innovation enterprises. By deploying intelligent infrastructure, reconstructing data value, and valuing patents, financial institutions can address key pain points and provide more effective support to these enterprises. Ping An Group’s continuous technological investment and innovation serve as a model for the industry, demonstrating how digital transformation can enhance service quality and efficiency.
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