There is some fabulous hiking to be done around the rice terraces, though finding your way when outside the signposted areas can be tricky at times; a local guide can lead the way for a small fee.
Around Ping'An. There is a well sign-posted walk around Ping'An that takes you through Ping'An town itself, and up to both viewpoints - Viewpoint 1 (called Nine Dragons and Five Tigers) and Viewpoint 2 (Seven Stars with Moon), both of which have spectacular views of the town and surrounding terraces. The route is well sign-posted (look for the stone-engraved maps about the place) with good paths; completing the full circuit takes about 1 - 1.5 hrs.
Ping'An to Zhongliu and Dazhai. The walk from Ping'An to Zhongliu takes approx 2 hours, from where it is another 2 hours to Dazhai. To Zhongliu Start by heading out from Ping'An up the hill to Viewpoint 1, then continue over the back and along a dirt road. This will take you past a lake and through a lovely valley