Mindy Gao's questions to PRUDENTIAL (PUK) leadership • Q1 2023
Question
Asked about the business outlook for China in the second half of the year and the sustainability of the strong growth from Mainland Chinese Visitors (MCV) in Hong Kong.
Answer
Management stated that China's fundamental demand drivers remain strong, though they are actively rebalancing the product mix for long-term value, which may have a short-term impact. They are very optimistic about Hong Kong, noting that MCV traffic is recovering towards pre-pandemic levels and that while savings products are currently popular, the number of health and protection policies sold is also high, indicating a future normalization of the business mix.