by making investments in infrastructure, energy, inclusive financing, healthcare, technology incubation, etc., through debt investment and equity investment. PICC Capital makes equity investments through its wholly owned subsidiary PICC Capital Equity Investment Company Limited (“PICC PE”). Approved by China Insurance Regulatory Commission in 2017, PICC PE is the sole private equity investment platform within PICC Group, and one of the sixteen PE fund managers in China sponsored by insurance capital. PICC PE currently manages an RMB 3bn PICC Health Care Fund. PICC Re PICC Group, via PICC Reinsurance, provided reinsurance service to its listed subsidiary PICC P&C. PICC Reinsurance (PICC Re; ) itself is a joint venture of PICC Group and its subsidiary PICC P&C in a 51:49 ratio. Headquarters The headquarters of the company is located in (or transliterated as PICC Building), in Xicheng District, Beijing. There are other office buildings that are named after PICC, such as in Guangzhou and Chongqing (PICC Life Insurance Building). Shareholders PICC issued two classes of ordinary shares: A share and H share. The latter only traded outside Mainland China. Despite residents in Mainland China can buy the H shares of PICC via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, and vice versa for foreigners buying A shares. The Ministry of Finance of the People's Republic of China (MOF) is the controlling shareholder of the company, for 67.60% of the total shares as of 31 December 2018. The MOF also significantly owned fellow financial service companies: the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of Communications, China Cinda Asset Management and China Re, etc. The state pension fund: the National Social Security Fund (NSSF) also owned 8.60% + 1.19% total shares of the company (NSSF owned both A and H shares of the company) as of 2018. It was announced that MOF would transferred an additional 6.76% total shares of PICC to the NSSF in 2019. Other notable investors of PICC included the US-based multinational insurer American International Group (AIG), which owned 2.52% of the total shares (12.76% of the H shares) of PICC, as of 2018. However, AIG sold all their stake in February 2019. AIG also sold most of their stake in the subsidiary PICC P&C in 2005–06. The H shares of the company is the constituent of Hang Seng China Enterprises Index as of January 2020. While the A shares of the