PSBC(SH:601658) Jin Rong Shi Bao·2025-07-23 02:32Core Viewpoint - The establishment of Asset Investment Companies (AICs) by major banks, including Postal Savings Bank's investment of 10 billion RMB, signifies a strategic move to enhance support for technology innovation and improve financial services for the real economy [1][2]. Group 1: AIC Establishment and Purpose - Postal Savings Bank plans to invest 10 billion RMB to establish China Post Financial Asset Investment Company, joining the ranks of other major banks in the AIC sector [1]. - The establishment of AICs is seen as a response to national calls for supporting technological advancements and enhancing the comprehensive service capabilities of banks [2]. - Since 2025, three other banks have been approved to set up AICs, indicating a growing trend among financial institutions to engage in this area [2]. Group 2: AIC's Role and Evolution - Initially, AICs were focused on resolving non-performing assets and conducting market-oriented debt-to-equity swaps, but their role has evolved to support equity investments in technology enterprises [4][5]. - The shift in AIC functions aligns with China's economic restructuring, emphasizing the importance of technological innovation for high-quality economic development [4][5]. - AICs are now positioned to provide long-term capital for technology innovation, reflecting a broader trend in the banking sector to support strategic emerging industries [6][8]. Group 3: Market Impact and Future Outlook - The collective involvement of the six major state-owned banks in AICs is expected to strengthen support for large state-owned enterprises and strategic emerging industries, creating a competitive landscape in the AIC market [2][3]. - Recent data shows significant investments by bank-affiliated AICs in technology sectors, with cumulative investments reaching nearly 400 billion RMB in market-oriented debt-to-equity swaps and equity investments [7]. - Experts suggest that AICs need to balance prudent management with innovative development to effectively support technological advancements and adapt to the evolving financial landscape [8].