The joint-stock bank financial asset investment company (AIC) is here. On May 7, the Financial Supervision Administration approved and agreed that Industrial Bank should prepare for the establishment of Xingyin Financial Asset Investment Co., Ltd. (tentative name). The approval mentioned that Industrial Bank should strictly follow the relevant laws and regulations to handle the preparatory work and complete the preparatory work within 6 months from the date of approval. The preparatory work is subject to the supervision and guidance of the State Financial Supervision and Administration Bureau. No financial business activities shall be engaged during the preparatory period. After the preparatory work is completed, an application for opening should be submitted to the State Financial Supervision and Administration Bureau in accordance with relevant regulations and procedures. Prior to this, there were 5 AICs, namely ICBC Investment, ABC Investment, BOC Asset Management, CCB Investment, and BoCom Investment, which were initiated and established by the five major state-owned banks of ICBC, ABC, CCB, and BOCOM, and all were established in 2017.