PICC’s net profit up over 12% in 2022

Insurer People's Insurance Company of China Ltd. reported a 12.2% year-on-year increase in its net profit to about 34.3 billion Chinese yuan ($4.98 billion) in 2022, Xinhua reported. Meanwhile, the insurer’s business revenue increased 6.9% year-on-year to CNY625.8 billion.