Jing Ji Guan Cha Wang·2025-11-26 00:46Core Viewpoint - The China Post has received approval from the National Financial Regulatory Administration to operate as an insurance agent, expanding its financial services and addressing compliance issues related to its previous operations under Postal Savings Bank's license [2][6]. Group 1: Business Operations - China Post operates a diverse business model that includes postal services, express logistics, finance, and e-commerce, with subsidiaries like Postal Savings Bank, China Post Insurance, and China Post Securities [3]. - The operational model for banking and insurance involves "self-operated + agency" and "self-operated + management," allowing China Post to leverage its extensive network for financial services [3]. Group 2: Historical Context - Postal Savings Bank was established in 2007, evolving from the China Post's savings bureau, and has been publicly listed since 2016 [4]. - To avoid internal competition, China Post previously committed to not engaging in insurance agency business, leading to the cancellation of several agency licenses held by its subsidiaries [4][5]. Group 3: Market Presence - China Post has over 54,000 service points, with more than 32,000 offering financial services, significantly contributing to Postal Savings Bank's revenue [6]. - The annual premium volume for China Post's insurance agency business exceeds 300 billion yuan, with China Post Insurance accounting for less than 40% of this total [6].