Postal Savings Bank of China (01658) has been approved to establish a financial asset investment company.

The Postal Savings Bank Of China (01658) has announced that recently, the bank has received the approval from the China Banking and Insurance Regulatory Commission for the establishment of China Postal Financial Asset Investment Co., Ltd. (to be temporarily named, the actual company name will be confirmed by the relevant regulatory authorities and market supervision department, hereinafter referred to as China Postal Investment). After the establishment work is completed, the bank will apply for the opening of the company to the China Banking and Insurance Regulatory Commission in accordance with relevant regulations and procedures. China Postal Investment has a registered capital of RMB 10 billion and will be managed as a wholly-owned primary subsidiary of the bank. The establishment of China Postal Investment is an important measure for the bank to respond to the country's call and serve the construction of a strong technology country, which will help the bank enhance its comprehensive service capabilities, carry out key initiatives in finance, and build a strong force in technology finance; through conducting market-oriented debt-to-equity conversion and equity investment pilot businesses, it will play a supporting role in technological innovation and private enterprises, assist in the development of new productive forces, improve the quality and efficiency of serving the real economy, and further promote the high-quality development of the bank.