INDUSTRIAL BANK(SH:601166) Nan Fang Du Shi Bao·2025-11-10 03:00Group 1 - The core point of the article is the approval and establishment of the first financial asset investment company (AIC) under a joint-stock bank in China, specifically the Xinyi Financial Asset Investment Co., Ltd. [2][3] - Xinyi Investment has a registered capital of 10 billion RMB and is located in Fuzhou, Fujian Province [3]. - The establishment of Xinyi Investment marks a significant step for the company in supporting national strategies and empowering the real economy, focusing on debt-to-equity swaps and related businesses to support technology and private enterprises [3]. Group 2 - The approval of Xinyi Investment is part of a broader trend where other joint-stock banks, such as CITIC Bank and China Merchants Bank, are also establishing their AICs, with registered capitals of 10 billion RMB and 15 billion RMB respectively [3]. - The Postal Savings Bank, previously absent in the AIC sector, has also announced plans to establish its own AIC with a registered capital of 10 billion RMB, completing the lineup of the six major state-owned banks in this area [4]. - Currently, there are five operational AICs in China, all initiated by major state-owned banks in 2017, with varying performance results reported in their recent half-year reports [5]. Group 3 - The performance of existing AICs has shown significant disparity, with Agricultural Bank's investment arm reporting a net profit of 1.936 billion RMB, a year-on-year increase of 54.88%, while others like China Construction Bank's investment arm saw declines in net profit by 43.34% [5]. - Compliance issues have arisen, with some AICs facing penalties for business violations, highlighting the challenges of maintaining compliance and profitability in a competitive environment [6].