Ping An to demand HSBC boost dividend and commit to regular structural review

Chinese insurer Ping An will demand HSBC boost dividends to pre-Covid levels and commit to regularly reviewing its structure at its annual meeting next month, following calls to break off its Asian business.

HSBC’s largest shareholder is planning to support resolutions proposed by a group of retail investors on dividends and structural reform, which includes spinning off operations in Asia to boost returns, according to people familiar with the situation. Ping An declined to comment.