Ping An to set up e-commerce unit

Ping An Insurance, China's second-largest life insurer, will set up an e-commerce arm, Shanghai Securities News reported on Wednesday.

The arm will be a platform providing data and sales channels, the report said, citing Ren Huichuan, the insurer's president.

It will also focus on second-hand housing, vehicles, medical science and healthcare sectors, Ren said.

Gu Min, deputy general manager of Ping An said the insurer's move will not change its core business.

Ping An posted stronger-than-expected first-half profit growth of 28.3 percent in the first half of 2013, boosted by improved investment income and contributions from its banking operation.