Core Viewpoint - Postal Savings Bank plans to invest 10 billion RMB to establish a financial asset investment company (AIC), aiming to enhance its service capabilities and support technological innovation and private enterprises [1][2] Group 1: AIC Establishment and Implications - Postal Savings Bank's establishment of the AIC will contribute to the full assembly of the six major state-owned banks in the AIC sector, creating a competitive landscape of "full state-owned banks + new forces from joint-stock banks" [1][2] - The establishment of AICs is a response to national calls and is expected to improve the bank's comprehensive service capabilities while supporting the development of new productive forces [1][2] Group 2: Historical Context and Development - The rise of AICs is closely linked to the market-oriented debt-to-equity swap reform initiated by the State Council in October 2016, which encouraged various financial institutions to participate [2][3] - Since 2017, major state-owned banks have established their AICs, marking the beginning of AIC development [2][3] Group 3: Policy Support and Market Dynamics - In March 2023, the National Financial Regulatory Administration expanded the equity investment pilot program for AICs to 18 cities, facilitating the entry of both state-owned and joint-stock banks into the AIC sector [3] - The acceleration of joint-stock banks entering the AIC market is driven by policy support and their flexible mechanisms, allowing them to focus on technology-driven private enterprises and regional industrial clusters [3] Group 4: Financial Dynamics and Innovation Support - AICs are positioned to alleviate the financing challenges faced by high-risk, asset-light technology enterprises, enhancing the flow of credit funds into these sectors [5][6] - The latest data indicates that major state-owned banks have formed a scale effect in the technology investment field through their AICs, with significant amounts allocated to various funds and projects [6] Group 5: Long-term Industry Impact - The expansion of AICs is reshaping the financial ecosystem by addressing early-stage financing gaps for technology enterprises and optimizing financial risk structures [7] - AICs are becoming a critical link in supporting the real economy and facilitating the transformation of commercial banks from traditional credit intermediaries to comprehensive capital service providers [7]