"Ping An didn't say it would sell its Fortis shares, so I think they still want a strategic plan with Fortis," said Xia. "But the global capital market is weak now. I think they will be more cautious in terms of foreign expansion." By midday, shares of Ping An Insurance Co were up 1.6 per cent to 33.79 yuan. Chinese state-owned banks have reported that they hold a total of US$634.8 million in bonds issued by failed Wall Street firm Lehman Brothers. But most say those holdings are less than 1 percent of their total assets. Ping An had total assets of 689 billion yuan $US100 billion ($A130.43 billion) as of June 30, according to the company's last financial report. "Even after taking impairment accounting treatment on the investments in Fortis Shares in the 2008 third quarterly report of the Group, the capital position and solvency margin of the Group remain solid and sufficient, the Group has a strong foundation and the financial condition is stable," the company statement said.