Postal Savings Bank: China Post Financial Asset Investment Co., Ltd. is approved to open for business.

Postal Savings Bank of China announced that it has recently received approval from the China Banking and Insurance Regulatory Commission for the establishment of Zhongyou Financial Assets Investment Co., Ltd. The company has a registered capital of 10 billion yuan and is headquartered in Beijing. Zhongyou Investment will focus on serving the real economy, conducting market-oriented debt-to-equity swaps and equity investment pilot businesses, and supporting technological innovation and private enterprises.