Zheng Quan Ri Bao·2025-07-17 16:41Core Viewpoint - The establishment of Zhongyou Financial Asset Investment Co., Ltd. by Postal Savings Bank marks the completion of the lineup of financial asset investment companies (AIC) under six major state-owned banks, enhancing the capacity for equity investment in the banking sector [1][2]. Group 1: Establishment and Regulatory Context - Postal Savings Bank plans to invest 10 billion yuan to establish Zhongyou Investment, following the regulatory approval for AICs issued by the National Financial Supervision Administration [1][2]. - The establishment of Zhongyou Investment will require regulatory approval and aims to adhere to legal and regulatory frameworks while focusing on risk management [2]. Group 2: Strategic Importance and Objectives - The investment is part of the bank's response to national calls for supporting technological innovation and enhancing comprehensive service capabilities, particularly in supporting private enterprises and the real economy [2][3]. - Other national commercial banks, including Industrial Bank, CITIC Bank, and China Merchants Bank, have also received AIC licenses, with registered capital of 10 billion yuan and 15 billion yuan respectively [2]. Group 3: Market Expansion and Challenges - The AIC pilot program has expanded from Shanghai to 18 cities, indicating a shift in the financial service paradigm from indirect financing to a combination of equity and debt [4]. - Challenges faced by AICs include limited capital sources, scarce investment targets, and difficulties in exit channels, which need to be addressed for effective operation [4][5]. Group 4: Future Development and Recommendations - Future development of AICs requires breakthroughs in institutional frameworks, capabilities, and ecological systems, including the establishment of long-term assessment mechanisms and diversified funding sources [6]. - It is recommended that banks enhance their investment decision-making and risk management processes while collaborating with local governments and state-owned platforms to explore diverse exit strategies [5][6].