Backing China’s Big Bet on Smart Cities – Urban Land Magazine

China’s largest insurer is backing the nation’s ambitious smart city program with investment in technology, panelists said during the ULI Asia Pacific Leadership Convivium, held in Shenzhen, China. Wei Baisong, chief technical officer and chief product officer at Ping An Capital, the venture arm of one of China’s largest insurance companies, said China has plans for 500 smart cities, compared with about 80 in Europe and 40 in the United States.