One hundred billion yuan investment seeking entry, China Merchants Bank, and CITIC Bank apply to set up AIC.

Following the approval from the China Banking and Insurance Regulatory Commission on May 7 for Industrial Bank to establish Xingyin Financial Asset Investment Co., Ltd., two more banks are now looking to invest in equity investment opportunities. On May 8, both China Merchants Bank and CITIC Bank announced their plans to establish financial asset investment companies. China Merchants Bank plans to invest 15 billion RMB to establish AIC, while CITIC Bank plans to invest 10 billion RMB to establish a wholly-owned subsidiary, Xin Yin Financial Asset Investment Co., Ltd.