China Merchants Bank gains approval for asset investment unit

China Merchants Bank (CMB) announced today that it has received approval from the National Financial Regulatory Administration to begin preparations for the establishment of CMB Financial Asset Investment Co., Ltd. This new entity will operate as a wholly-owned subsidiary of CMB. With a registered capital of RMB15.0 billion, the asset investment company aims to actively support national policies, align with broader national development initiatives, and enhance the bank's capabilities in market-based debt-to-equity swaps and equity investments. CMB will submit an application for commencement of business upon completion of preparatory work. This strategic move is intended to provide comprehensive financial support to enterprises and drive high-quality development.