Core Points - Postal Savings Bank of China (PSBC) has received approval from the National Financial Supervision Administration to establish China Post Financial Asset Investment Co., Ltd. with a registered capital of RMB 10 billion [1] - The new company will be a wholly-owned subsidiary of PSBC and aims to enhance the bank's comprehensive service capabilities and support technological innovation and private enterprises [1] - PSBC is the fourth bank this year to initiate the establishment of a financial asset investment company (AIC), completing the lineup of all six major state-owned banks holding AIC licenses [2] Summary by Sections Establishment of China Post Financial Asset Investment Co., Ltd. - PSBC announced the establishment of China Post Financial Asset Investment Co., Ltd. with a registered capital of RMB 10 billion [1] - The establishment is part of PSBC's response to national calls and aims to support the construction of a technology-driven economy [1] Context of Financial Asset Investment Companies - PSBC is the fourth bank in 2023 to establish an AIC, following China Merchants Bank, CITIC Bank, and Industrial Bank [2] - The establishment of AICs is aimed at addressing non-performing loans and initially focused on debt-to-equity swaps, with a gradual expansion into equity investment [2][3] Regulatory Environment and Expansion - In March 2023, the financial regulatory authority announced support for commercial banks to establish AICs, leading to an accelerated pace of AIC license issuance [3] - Prior to PSBC, five major state-owned banks had already established AICs, indicating a significant shift in the regulatory landscape for financial asset management [2][3]