China CITIC Bank to establish RMB 10bn asset investment firm

China CITIC Bank (SSE:601998) announced that it has received approval from the National Administration of Financial Regulation to establish a financial asset investment company named "信银金投". The new entity will have a registered capital of RMB 10 billion, fully funded by China CITIC Bank. This initiative aims to support national strategies, particularly in the "technology finance" sector, and aligns with key financial objectives. The investment company will focus on strategic emerging industries, specialized and sophisticated enterprises, and market-oriented debt-to-equity swaps and equity investments. China CITIC Bank intends to submit an application for business commencement to the National Administration of Financial Regulation after completing the preparatory work.