The Lin-gang Special Area and Shenergy sign an agreement to establish the insurance group in Lin-gang. [Photo/WeChat ID: shlgguanweihui]

Shenergy Property Insurance Co Ltd commenced operations in the Lin-gang Special Area in East China's Shanghai on May 9, marking a milestone in the area's financial landscape.

With a registered capital of 10 billion yuan ($1.38 billion), Shenergy Property Insurance chose the Lin-gang Special Area as its registered address.

The establishment there of the insurance giant is a collaborative effort between the area and several State-owned enterprises, including Shenergy Co Ltd. It's the first nationwide insurance company to settle in Lin-gang.

Looking ahead, plans are for Shenergy Property Insurance to leverage the institutional advantages and cutting-edge industrial characteristics of the Lin-gang Special Area.

It plans to delve deeper into financial innovation and business expansion, paving the way for more integration between industry and finance. Moreover, the company is actively exploring distinctive developmental paths and promoting a first-rate green insurance service model.