A signing ceremony between the Lin-gang Special Area, Lingang Group and Taiping Pension Co Ltd is held on Sept 24. [Photo/WeChat account: shlgguanweihui]

A signing ceremony for a products and services agreement – between the administrative committee of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, the Lingang Group and Taiping Pension Co Ltd – was held in the special area in East China's Shanghai city on Sept 24.

Under its terms, the signatories will join forces to develop a range of financial services, including pensions. They will also offer various investment and finance products and employee welfare insurance.

It is understood that Taiping Pension will provide assets custody, property security, financial leasing and other financial services for residential companies in the Lin-gang Special Area.

It will also cooperate with Lin-gang in project investment and development and in asset management, through various forms such as equity and creditor's rights.

Taiping Pension, founded in 2004, is the first State-owned professional pension insurance company in China, with a nationwide service network.

Its Shanghai branch has already worked with a number of companies and universities in Lin-gang, in areas such as enterprise annuities, employee welfare security, school welfare insurance and other related business.