每经AI快讯，12月22日，中国核建(601611.SH)公告称，其子公司中核二三、中核二四、中核华兴、中 核五公司、中核华辰拟引进工银投资通过非公开协议增资方式实施市场化债转股，增资金额合计50亿 元，用于偿还标的公司的金融机构借款。增资完成后，公司仍拥有对五家标的公司的实际控制权。此次 交易不构成重大资产重组，也不构成关联交易。 ...

【 导读 】 信银金投在广州揭牌开业，股份制银行AIC落地再添一家 中国基金报记者 马嘉昕 据介绍，信银金投将围绕战略性新兴产业重点领域，开展市场化债转股及股权投资业务，发挥股权投资对科创企业、民营经济的支持作 用，在新兴产业和未来产业领域发挥价值发现的作用，为中信银行提升综合经营能力和可持续发展水平再添主力军。 中信银行董事长方合英表示，信银金投作为国内首批股份制银行AIC落户广州，将把握机遇，扎根广东、服务全国，为推动中信集团事业持 续攀登、为金融服务中国式现代化贡献力量。 在业内看来，中信银行此次将AIC公司设在广州，不仅打破了"总部同城"惯例，也向市场传递出金融机构贴近产业的发展信号。信银金投的 设立，预计将有力推动中信银行的公司金融业务加快培育新质生产力，并在推动实体经济高质量发展中贡献更多力量。 AIC扩容步伐不断提速 值得一提的是，本月除信银金投之外，揭牌开业的还有招商银行旗下AIC。12月2日，招银金融资产投资有限公司（以下简称招银金投）在 深圳举行揭牌仪式。随着信银金投落地广州，招银金投落户深圳，粤港澳大湾区也初步形成了AIC双核格局。 11月16日，市场迎来首家股份制银行AIC开业——兴银 ...

记者丨庞成 郭晓洁 这已经是12月以来在大湾区开业的第二家股份制AIC。本月初，招银金融资产投资有限公司 （招银投资）在深圳开业。 股份制银行系AIC正加速布局大湾区。 随着信银金投落户广州，招银金投落户深圳，粤港澳大湾区已初步形成协同发力的AIC双核格 局。在全球创新指数排名第一的"深圳—香港—广州"科技集群加持下，这一布局背后全国性股 份制银行对大湾区产业基础与金融生态的认可。 自2016年启动市场化债转股试点以来，AIC历经近十年制度演进，已从风险化解工具转型为支 持科技创新与产业升级的"耐心资本"主力军。尤其在2024年监管层扩大AIC股权投资试点范围 后，其功能边界持续拓宽，战略价值日益凸显，成为全国性银行的必选项。 值得注意的是，中信银行打破"总部同城"惯例，将AIC设在广州，这也被市场视为金融机构 从"跟随总部"转向"贴近产业"的信号。 大行战略布局的必选项 过去一年，设立AIC已成为大型银行提升综合服务能力、服务新质生产力的核心战略选择。 编辑丨蒋韵 在金融资产投资公司（AIC）试点政策持续放宽、业务边界不断拓展的关键窗口期，银行系资 本正加速抢滩布局AIC赛道。 12月17日上午， 国内第二 ...

在这之后，兴业银行、中信银行、招商银行拿到筹建批文，分别推进旗下AIC的设立工作。11月16日， 兴银金融资产投资有限公司在福州揭牌成立并举行签约仪式，我国首家股份制银行AIC正式成立。12月 2日，招银金融资产投资有限公司开业仪式在深圳举行。 中信银行董事长方合英表示，信银金投作为国内首批股份制银行AIC落户广州，将把握机遇，扎根广 东、服务全国，为推动中信集团事业持续攀登、为金融服务中国式现代化贡献力量。 今年3月，国家金融监管总局发布《关于进一步扩大金融资产投资公司股权投资试点的通知》，将股权 投资试点范围扩展至18个试点城市所在省份，明确支持符合条件的商业银行发起设立AIC，为股份制银 行打开了入场通道。 北京商报讯（记者 宋亦桐）12月17日，信银金融资产投资有限公司（以下简称"信银金投"）在广州揭 牌开业，信银金投注册资本金为人民币100亿元，中信银行以自有资金出资，持股比例为100%，至此， 我国已有三家股份制银行旗下金融资产投资有限公司（以下简称"AIC"）落地。 据介绍，信银金投将围绕战略性新兴产业重点领域，开展市场化债转股及股权投资业务，发挥股权投资 对科创企业、民营经济的支持作用，在新兴 ...

揭牌当天，信银金投与科技金融、智能制造、绿色能源等领域的12家企业签署合作协议。据介绍，信银 金投将围绕战略性新兴产业重点领域，开展市场化债转股及股权投资业务，发挥股权投资对科创企业、 民营经济的支持作用，在新兴产业和未来产业领域发挥价值发现的作用，为中信银行提升综合经营能力 和可持续发展水平再添主力军。 方合英在致辞中表示，中信集团自诞生之日就肩负着"改革试点、开放窗口"的战略使命，成立46年来始 终与国家战略同频共振。信银金投的成立，是融入国家战略、服务粤港澳大湾区建设的"中信担当"，是 发挥综合金融优势特色，深化中信大协同的"关键落子"，是中信集团对中信银行锻造卓越能力、打造卓 越品牌的"殷切期望"。信银金投作为国内首批股份制银行AIC落户广州，将把握机遇，扎根广东、服务 全国，为推动中信集团事业持续攀登、为金融服务中国式现代化贡献力量。 中信银行副行长谷凌云表示，近年来中信银行积极践行金融"五篇大文章"，扎实推进"五个领先"银行战 略。作为中信银行注册资本最大的境内子公司，未来信银金投要坚守使命宗旨，在践行国家战略中积极 作为，以服务科技高水平自立自强为己任，有力服务现代化产业体系建设；要服务广东发展 ...

Core Insights - The recent approval of three financial asset investment companies (AICs) marks the establishment of the first batch of national joint-stock bank AICs in China, with a total of nine AICs now operational [1][2] Group 1: AIC Establishment and Capitalization - The newly approved AICs include Xinyin Financial Asset Investment Co., Xinyin Financial Asset Investment Co., and Zhaoyin Financial Asset Investment Co., with registered capital of 150 billion yuan for Zhaoyin and 100 billion yuan for the other two [1] - The establishment of these AICs follows a policy shift initiated in March 2023, which encouraged qualified commercial banks to set up AICs, leading to the approval of several banks including Industrial Bank, CITIC Bank, and Postal Savings Bank [1] Group 2: Functions and Characteristics of AICs - Initially, AICs served as a "risk isolation wall" and "asset restructuring experts," focusing on converting bank or enterprise debt into equity to reduce leverage and mitigate financial risks [1] - Over time, the role of AICs has expanded to become key players in equity investment, particularly following recent policy changes that have increased their investment scope and intensity [1] Group 3: Comparison Between Joint-Stock and State-Owned AICs - Joint-stock bank AICs share common features with state-owned AICs, including core functions, regulatory frameworks, policy guidance, and operational models [2] - However, differences exist in shareholder backgrounds, resource endowments, capital scales, and regional layouts, with state-owned AICs benefiting from larger asset scales and nationwide networks [2] Group 4: Impact on the Economy - The concentration of AICs is expected to positively influence the development of the real economy and the stability of financial markets, facilitating corporate transformation and high-quality development [3] - AICs can alleviate corporate debt burdens through debt-to-equity swaps, promoting technological research and product innovation, particularly for specialized and innovative small and medium-sized enterprises [3]

Core Insights - The recent approval of three financial asset investment companies (AICs) marks the establishment of the first batch of national joint-stock bank AICs in China, expanding the total number of bank-affiliated AICs to nine [1][2] Group 1: AIC Establishment and Function - The newly approved AICs include Xinyin Financial Asset Investment Co., Xinyin Financial Asset Investment Co., and Zhaoyin Financial Asset Investment Co., with registered capitals of 150 billion yuan and 100 billion yuan respectively [1] - AICs were initially designed for market-oriented debt-to-equity swaps, serving as a "risk isolation wall" and "asset restructuring expert" within the banking system, aimed at reducing corporate leverage and mitigating financial risks [1][3] - The role of AICs has evolved to become a major player in equity investment, particularly following recent policy expansions that have increased their investment scope and intensity [1] Group 2: Comparison Between AICs - The newly established AICs share common features with state-owned bank AICs, including core functions, regulatory frameworks, policy guidance, and operational models [2] - Differences exist in shareholder backgrounds, resource endowments, capital scales, and regional layouts, with state-owned AICs benefiting from larger asset scales and nationwide networks, focusing on large state-owned enterprises [2] - In contrast, joint-stock bank AICs have a slightly lower capital scale and are more concentrated in their initial focus, primarily serving private and innovative small and medium-sized enterprises [2] Group 3: Impact on the Economy - The entry of AICs is expected to significantly promote enterprise transformation and high-quality development by alleviating corporate debt burdens through debt-to-equity swaps, thereby facilitating technological research and product innovation [3] - AICs are positioned to support specialized and innovative enterprises, as well as technology-driven small and medium-sized enterprises, while also restructuring and revitalizing companies in debt distress through market-oriented and legal means [3]

Core Viewpoint - The establishment of China Merchants Bank's Asset Investment Company (招银投资) marks a significant step in expanding the role of commercial banks in equity investment, supporting the development of technology innovation enterprises [1][2]. Group 1: Company Overview - 招银投资 officially opened on December 2, becoming the second asset investment company (AIC) established by a joint-stock bank, following 兴银投资 [1]. - The company has a registered capital of 15 billion yuan and will focus on market-oriented debt-to-equity swap business and participate in equity investment trials led by regulators [1]. - 招银投资 aims to provide comprehensive financial support throughout the lifecycle of clients, reduce corporate leverage, and promote enterprise transformation and upgrading [1]. Group 2: Industry Context - The establishment of AICs is part of a broader national strategy emphasizing technology innovation as a key driver for industrial upgrading [2]. - 招银投资 is positioned as a crucial bridge between equity capital and the financing needs of technology innovation enterprises, enhancing the role of commercial banks in this sector [2]. - The recent approval wave for bank-affiliated AICs, including those from 兴业银行, 中信银行, and 邮储银行, indicates a growing trend in the financial market to support technology enterprises through equity investment [3][4]. Group 3: Strategic Implications - 招银投资 is expected to create a synergistic relationship with its parent company, 招商银行, leveraging its extensive credit resources and client network to enhance service capabilities [3]. - The expansion of AIC licenses is anticipated to allow more flexible regional banks and joint-stock banks to participate in equity investments, thereby diversifying the investment and financing system in China [4].

来源：财经众议院 招商银行旗下的金融资产投资公司也开业了！ 12月2日，招银金融资产投资有限公司（简称"招银投资"）开业仪式在深圳举行，这是股份行中的第二 家AIC。 虽然是行业"老二"，但招银投资却至少创造了两个第一：注册资本150亿元，是目前获批的三家股份行 AIC中的注册资本老大；"高配"董事长，由招商银行最年轻的副行长雷财华挂帅，这也是包括国有大行 在内首位由副行长兼任的AIC董事长。 与之可以对比的是兴业银行旗下的兴银投资。11月16日，首家股份行AIC兴银投资开业，注册资本为 100亿元，董事长为陈伟，此前他担任兴业银行厦门分行党委书记、行长；总裁为郑榕斌，此前担任兴 业银行普惠金融部/乡村振兴部副总经理。 而招商银行的AIC高管却是"高配"：不仅董事长由总行副行长兼任，总经理也是招商银行部门总经理。 在开业仪式上，招银投资总经理郑新盈首次亮相，此前为招商银行投行部总经理。 财经众议院注意到，此前开业的五大国有银行的AIC，董事长也均为部门总经理，尚没有副行长兼任的 情形，招商银行是首家由副行长兼任董事长的AIC。 雷财华今年两获重任，5月正式出任副行长，半年后又掌舵招银投资。 出生于1974年9 ...

Group 1: Central Bank Operations - The central bank conducted a net investment of 50 billion yuan in government bonds in November, marking the second consecutive month of such operations, aimed at maintaining adequate market liquidity and stabilizing the financial market [1] Group 2: Banking Sector Developments - Major state-owned banks have ceased offering 5-year large-denomination time deposits, reflecting a strategic response to the ongoing pressure of narrowing net interest margins, with current rates for 3-year deposits at 1.55% and 1-year and 2-year deposits at 1.20% [2] - The removal of 5-year products allows banks to shorten the average maturity of liabilities and enhance repricing flexibility, aligning with the economic need for precise capital allocation [2] Group 3: Insurance Sector Performance - Insurance stocks have collectively rebounded, with China Pacific Insurance up 2.78%, China Life Insurance up 3.32%, and Ping An Insurance up 0.70%, driven by improving industry fundamentals [3] - Leading insurance companies have met or are close to achieving their annual sales targets for 2025, with a focus now shifting towards the 2026 "New Year" product offerings, particularly in dividend-type life insurance products [3] Group 4: Postal Savings Bank Dividend Announcement - Postal Savings Bank announced a mid-term dividend of 0.123 yuan per share, reflecting its commitment to stable operations and shareholder returns, with the payout date set for February 13, 2026 [4] Group 5: New Investment Company Launch - China Merchants Bank has established a new investment company, AIC, to engage in market-oriented debt-to-equity swaps, leveraging its comprehensive asset management licenses to provide integrated financial services [5]