Backed by Industrial Bank’s RMB 1.1 trillion scale in technology finance, Xingyin Investment has been the first to receive approval for operation.

Cailian Press, November 9 (reporter Zhaoyibo Zhao) – On November 9, Industrial Bank announced that on November 7, 2025, it received “The National Financial Regulatory Administration’s Reply on the Approval for the Operation of Xingyin Financial Asset Investment Co., Ltd.” (Approval No. [2025] 638). The National Financial Regulatory Administration has approved the operation of the bank’s wholly-owned subsidiary, Xingyin Financial Asset Investment Co., Ltd. (hereinafter referred to as Xingyin Investment). According to the reply, the registered capital of Xingyin Investment is RMB 10 billion, and its registered address is Fuzhou City, Fujian Province. Subsequently, Xingyin Investment will handle the relevant procedures for operation in accordance with applicable regulations.

In May this year, the National Financial Regulatory Administration announced that the application of Industrial Bank for the preparation of Xingyin Financial Asset Investment Co., Ltd. was officially approved. This is the sixth licensed AIC in the country and also the first AIC license obtained by a joint-stock bank.

In their early years, AICs were primarily specialized institutions established to resolve non-performing assets of banks and implement debt-to-equity swaps. With changing times, due to their equity investment capabilities, AICs have also been entrusted with the mission of supporting technological innovation through investment-lending linkage, making them highly valued by leading joint-stock banks.

In addition to Industrial Bank, in June this year, China CITIC Bank announced that it had received approval from the National Financial Regulatory Administration to prepare for the establishment of CITIC Financial Asset Investment Co., Ltd., becoming the second joint-stock bank AIC to be approved. In July, CMB’s subsidiary, CMB Financial Asset Investment Co., Ltd., was also approved for preparation.

Currently, there is no official information available on the commencement of operations for the AICs under CITIC and CMB.

From the perspective of Industrial Bank, both obtaining the license and receiving approval for operation place it ahead of its peers.

Public data shows that among joint-stock banks, Industrial Bank has been relatively leading in its efforts in technology finance. According to data on the Industrial Bank’s official website, from the end of 2021 to the end of June 2025, its technology finance financing balance increased from over RMB 230 billion to over RMB 1.1 trillion, ranking first among joint-stock banks, with an increase of more than 350%; its technology finance customers grew from over 90,000 to over 340,000, marking an increase of more than 250%.

Lü Jiajin, Chairman of Industrial Bank, previously disclosed at the 2024 annual results briefing: “Industrial Bank is actively applying to establish an AIC. If successful, this will create new development opportunities in technology finance.”

Industrial Bank announced on November 9 that the commencement of operations of Xingyin Investment marks a key step forward in serving national strategies and empowering the real economy. Xingyin Investment will rely on professional and market-oriented debt-to-equity swaps and related businesses to enhance support for science and technology enterprises and private enterprises. By optimizing corporate capital structures and effectively reducing leverage ratios, it will precisely serve new productive forces and inject high-quality development momentum into the real economy.