Ping An defends HSBC spin-off call but says it is not an activist investor

Ping An defends HSBC spin-off call but says it is not an activist investor

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

China’s Ping An Insurance Group defended its call to spin off HSBC‘s Asia business, saying it cared about investment returns from its large stake in Europe’s biggest bank but was not an activist investor.