China Merchants Bank: CMB Financial Asset Investment Co., Ltd. has been approved to open for business.

China Merchants Bank announced on November 21 that it has received the approval from the China Banking and Insurance Regulatory Commission for the establishment of CMB Financial Asset Investment Co., Ltd. According to the approval, the company has been granted permission to operate. CMB Financial Asset Investment Co., Ltd. has a registered capital of RMB 15 billion and is a wholly-owned subsidiary of the company.