Group 1 - The core point of the news is that the China Financial Supervisory Administration has approved the establishment of the Guangfa Bank Asset Custody Center, which aims to enhance the bank's custody services towards a more refined and professional operational system [2][3][4] - Guangfa Bank's asset custody and fund service business scale reached 4.2 trillion yuan by the end of 2024, reflecting a growth of 10.76% compared to the beginning of the year, making it the leading growth among national joint-stock banks [3][4] - The establishment of the custody center is seen as a necessary step to provide professional support for the growing retail wealth, especially as the bank's personal AUM has successfully surpassed one trillion yuan [4] Group 2 - The asset custody business in China's banking sector has been expanding steadily, with the total custody scale of asset management products reaching 182.20 trillion yuan by the end of 2024, an increase of 12.64% year-on-year [5][6] - Four banks have custody scales exceeding 20 trillion yuan, indicating a significant head effect in the industry, with major players including Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and China Merchants Bank [6][7] - The growth in custody business revenue is notable, with Industrial and Commercial Bank of China reporting a custody income of 4.27 billion yuan in the first half of 2025, reflecting a year-on-year increase of 3.79% [7][8]