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Bank Nagelmackers, another Anbang subsidiary in Belgium specializing in private banking and wealth management, has also collaborated with Fidea under Anbang's corporate leadership.

Ban made the remarks in a pre-recorded speech delivered at a news conference in Beijing that released the Asia Poverty Reduction Report 2020, which said Asia has been leading the poverty reduction cause worldwide since 1990, to which China is a major contributor.

Bearing fruit

Back then, some of my classmates' parents used to work with SOEs in my hometown Fuxin in the province. When I was at junior middle school, I was able to tag along with my buddies to a local SOE's low-cost natatorium. The indoor swimming pool maintained a warm temperature, which was a pleasant contrast to the generally cold weather outside.

Banking, food, and healthcare stocks were among the favorite sectors for foreign investors. They also favored companies listed on the main board and with high market values and low valuations.