Core Viewpoint - The establishment of financial asset investment companies (AICs) by major Chinese banks marks a significant development in the financial sector, aligning with national strategies to support technological finance and enhance the financial ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area [2][3][4]. Group 1: AIC Establishment - CITIC Bank's wholly-owned subsidiary, Xinyin Financial Asset Investment Co., Ltd. (信银金投), received approval to commence operations on November 21, 2025, with a registered capital of RMB 10 billion [3][5]. - Other banks, including China Merchants Bank and Industrial Bank, have also established their AICs, completing the operational landscape for AICs among major Chinese banks [2][3][4]. - The three AICs are strategically located in key cities within the Greater Bay Area, which is expected to enhance capital and industry alignment and foster financial innovation [2][4]. Group 2: Strategic Focus and Operations - Xinyin Financial Asset Investment Co. will focus on strategic emerging industries and "specialized, refined, unique, and innovative" sectors, engaging in market-oriented debt-to-equity swaps and equity investment [3][6]. - The company aims to leverage CITIC Bank's comprehensive financial services to support technology-driven enterprises and the private economy, enhancing the bank's operational capabilities and sustainable development [3][6]. - The AIC's investment strategy includes providing patient capital to support local innovation and the transformation of technological achievements, contributing to the development of Guangzhou's modern industrial system [5][6]. Group 3: Supportive Measures from Local Government - Guangzhou's government plans to support the operations of Xinyin Financial Asset Investment Co. by improving work mechanisms and policy services to attract quality capital [7]. - Initiatives include integrating government investment funds, establishing a dual-listing mechanism for project matching, and enhancing project recommendations to improve the success rate of equity funding [7]. - The government aims to strengthen the local private equity management base and attract more social and foreign capital to invest in Guangzhou, fostering a robust financial ecosystem [7].

格隆汇11月23日丨中信银行(00998.HK)公告，中信银行股份有限公司(以下简称本行)，于2025年11月21 日收到《国家金融监督管理总局关于信银金融资产投资有限公司开业的批复》(金复〔2025〕666号)， 国家金融监督管理总局已批准本行全资子公司信银金融资产投资有限公司(简称信银金投)开业。根据该 批复，信银金投注册资本为100亿元人民币，注册地为广东省广州市。后续信银金投将依照有关规定办 理开业手续。 信银金投获准开业，是本行积极响应国家号召，大力支持"科技金融"发展，做好金融"五篇大文章"的关 键举措，也是本行打造综合金融服务的关键一环。信银金投将围绕战略新兴产业、"专精特新"等重点领 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，提升本行综合经营能力和可持续发展水平。 ...

智通财经APP讯，中信银行(00998)发布公告，该行于2025年11月21日收到《国家金融监督管理总局关于 信银金融资产投资有限公司开业的批复》(金复〔2025〕666号)，国家金融监督管理总局已批准该行全 资子公司信银金融资产投资有限公司(简称信银金投)开业。根据该批复，信银金投注册资本为100亿元 人民币，注册地为广东省广州市。后续信银金投将依照有关规定办理开业手续。 信银金投获准开业，是该行积极响应国家号召，大力支持"科技金融"发展，做好金融"五篇大文章"的关 键举措，也是该行打造综合金融服务的关键一环。信银金投将围绕战略新兴产业、"专精特新"等重点领 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，提升该行综合经营能力和可持续发展水平。 ...

信银金投获准开业，是本行积极响应国家号召，大力支持"科技金融"发展，做好金融"五篇大文章"的关 键举措，也是本行打造综合金融服务的关键一环。信银金投将围绕战略新兴产业、"专精特新"等重点领 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，提升本行综合经营能力和可持续发展水平。 格隆汇11月23日丨中信银行(601998.SH)公告，中信银行股份有限公司(以下简称本行)，于2025年11月21 日收到《国家金融监督管理总局关于信银金融资产投资有限公司开业的批复》(金复〔2025〕666号)， 国家金融监督管理总局已批准本行全资子公司信银金融资产投资有限公司(简称信银金投)开业。根据该 批复，信银金投注册资本为100亿元人民币，注册地为广东省广州市。后续信银金投将依照有关规定办 理开业手续。 ...

中信银行股份有限公司于2025年11月21日收到《国家金融监督管理总局关于信银金融资产投资有限公司 开业的批复》（金复〔2025〕666号），国家金融监督管理总局已批准中信银行全资子公司信银金融资 产投资有限公司（简称信银金投）开业。根据该批复，信银金投注册资本为100亿元人民币，注册地为 广东省广州市。后续信银金投将依照有关规定办理开业手续。 据介绍，中信银行成立于1987年，是中国改革开放中最早成立的新兴商业银行之一，是中国最早参与国 内外金融市场融资的商业银行。2007年4月，中信银行实现在上海证券交易所和香港联合交易所A+H股 同步上市。 中信银行股份有限公司董事会11月23日发布公告： 公告称，信银金投获准开业，是中信银行积极响应国家号召，大力支持"科技金融"发展，做好金融"五 篇大文章"的关键举措，也是中信银行打造综合金融服务的关键一环。信银金投将围绕战略新兴产 业、"专精特新"等重点领域，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，提升本行综合经营能力和可持续发展水 平。 ...

信银金投获准开业，是本行积极响应国家号召，大力支持"科技金融"发展，做好金融"五篇大文章"的关 键举措，也是本行打造综合金融服务的关键一环。信银金投将围绕战略新兴产业、"专精特新"等重点领 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，提升本行综合经营能力和可持续发展水平。 格隆汇11月23日丨中信银行(601998.SH)公告，中信银行股份有限公司(以下简称本行)，于2025年11月21 日收到《国家金融监督管理总局关于信银金融资产投资有限公司开业的批复》(金复〔2025〕666号)， 国家金融监督管理总局已批准本行全资子公司信银金融资产投资有限公司(简称信银金投)开业。根据该 批复，信银金投注册资本为100亿元人民币，注册地为广东省广州市。后续信银金投将依照有关规定办 理开业手续。 ...

Core Points - CITIC Bank and China Merchants Bank announced the approval of their respective financial asset investment companies, signaling a strategic move to enhance their financial services and support technological innovation [1][2]. Group 1: CITIC Bank - CITIC Bank's wholly-owned subsidiary, Xinyin Financial Asset Investment Co., Ltd. (信银金投), received approval to commence operations with a registered capital of RMB 10 billion [1]. - The establishment of Xinyin Financial Asset Investment is part of CITIC Bank's initiative to support the development of strategic emerging industries and enhance its comprehensive operational capabilities [1]. - The company aims to engage in market-oriented debt-to-equity swaps and equity investment, focusing on supporting technology-driven enterprises and the private economy [1]. Group 2: China Merchants Bank - China Merchants Bank's wholly-owned subsidiary, Zhaoyin Financial Asset Investment Co., Ltd. (招银金投), has also been approved to operate with a registered capital of RMB 15 billion [2]. - The establishment of Zhaoyin Financial Asset Investment will enable the bank to deepen collaboration between industry and finance, enhancing its ability to serve the real economy [2]. - The company plans to conduct pilot equity investment projects to empower technological innovation and promote high-quality development [2]. Group 3: Industry Context - The approval of these financial asset investment companies expands the number of domestic joint-stock bank AICs to three, following the establishment of Xinyu Financial Asset Investment Co., Ltd. earlier this month [2]. - The regulatory environment is supportive, as evidenced by the Financial Regulatory Authority's recent notification encouraging qualified commercial banks to establish AICs [2]. - Additionally, Postal Savings Bank has announced plans to establish its own financial asset investment company with a registered capital of RMB 10 billion, indicating further growth in this sector [3].

今年以来，国寿资产支持长三角系列资产支持专项计划密集落地，投资规模超过50亿元，为上海企业盘 活存量资产注入强劲动力。具体来看，为进一步支持上海消费基础设施建设，国寿资产通过投资百联股 份ABS项目优先级份额，盘活金山、川沙两大购物中心存量资产；通过投资张江人工智能岛ABS项目， 将国内首个"5G+AI"全场景商用示范园区的优质资产纳入配置。 截至2025年三季度末，国寿资产合并管理资产规模近7万亿元，合并管理第三方业务规模超9100亿元， 服务实体经济投资规模超4万亿元，科技金融、绿色金融、普惠金融等投资规模稳步增长。在2025年IPE 全球资管机构排名中，国寿资产位列全球第29位、中国第1位。 ...

21世纪经济报道记者张欣 "一项新技术从实验室走向市场，如同一场周期长、投入大、风险高的'长征路'，每个环节都离不开金融'活水'的精准滴灌。"陈 晨星称。她强调，党的二十届四中全会为经济金融工作指明方向，加快建设金融强国，关键就在于构建适配科技创新的金融服 务体系，让金融资源高效流向创新最前沿，这既是国家战略要求，也是金融业高质量发展的必然选择。 以下为发言全文—— 11月22日，为凝聚行业智慧、探寻发展新路径，由南方财经全媒体集团指导、21世纪经济报道主办的"第二十届21世纪金融年 会"在北京盛大召开。 "为高水平科技自立自强构建适配的体制机制，打造覆盖科技创新全生命周期、全产业链条的金融服务体系，让金融资源高效流 向创新最前沿。"在"主题论坛一：金融助力高水平科技自立自强"上，南方财经全媒体集团编委、21世纪经济报道执行总编辑陈 晨星如是表示。 在会上，她回顾了21世纪金融年会二十年发展历程，结合国家战略阐述了金融助力科技自立自强的重要意义，剖析当前科技金 融发展痛点，并介绍了南方财经全媒体集团的转型实践与成效，期待以此次论坛为契机，汇聚行业智慧，共同打造覆盖科技创 新全生命周期的金融服务体系，为科技自立 ...

Core Insights - The 20th 21st Century Financial Annual Conference focused on "Reshaping Financial Resilience and Navigating Interest Rate Cycles," highlighting the need for the financial industry to adapt to low interest rates and economic fluctuations [1][2] Group 1: Financial Industry Development - The conference featured discussions on how China's financial system is building resilience against cyclical fluctuations through structural reforms and precise monetary policies [2] - Key areas of focus for financial institutions include technology finance, green finance, inclusive finance, pension finance, and digital finance, which are essential for differentiated development during interest rate cycles [2] - The shift from the old economic cycle of "real estate-finance-local government infrastructure" to a new cycle of "technology-finance-industry" was emphasized as a significant change in China's economic growth logic [2] Group 2: Insurance and Investment Opportunities - The role of green insurance in supporting climate resilience and investment was discussed, highlighting the importance of public-private partnerships in managing project risks [3] - The life insurance sector is encouraged to integrate into a people-oriented pension and health protection ecosystem, with a focus on enhancing long-term asset management capabilities [3] - Recommendations for the health protection ecosystem include reshaping the health insurance system to become a cornerstone of the national multi-level health security framework [3] Group 3: Technological Impact on Finance - A roundtable discussion on "AI and Future Finance" explored the impact of artificial intelligence on the financial industry, with insights from various industry leaders [4] - The "Financial Support for High-Level Technological Self-Reliance" sub-forum featured discussions on financial support paths for key technology breakthroughs and capital market innovations [4] Group 4: Wealth Management Trends - The "Low Interest Rate Question in Wealth Management" sub-forum addressed the transition from real estate dependency to diversified asset allocation in wealth management [5] - The release of the "2025 China Banking Industry Competitiveness Research Report" and the "2025 China Insurance Industry Competitiveness Research Report" provided valuable insights and guidance for the financial sector [5]