China Post Investment Approved to Open: Registered capital of 100 billion yuan; Du Chunye appointed Chairman, and Zhu Yuanyong appointed President

Ruicai Finance Wang Min Recently, the National Financial Regulatory Administration issued an approval, allowing China Post Financial Asset Investment Co., Ltd. (hereinafter referred to as “China Post Investment”) to commence operations.

The approved organization’s Chinese name is China Post Financial Asset Investment Co., Ltd.; the English name is PSBC Financial Asset Investment Co., Ltd. The registered capital is 10 billion yuan, fully subscribed and paid in full by Postal Savings Bank in cash.

The scope of business approved for China Post Financial Asset Investment Co., Ltd. includes: acquiring bank claims on enterprises for the purpose of debt-to-equity swaps, converting claims into equity and managing the equity; restructuring, transferring, and disposing of claims that cannot be converted into equity; investing in enterprise equity for the purpose of debt-to-equity swaps, with the enterprise using all equity investment funds to repay existing claims; raising funds from qualified investors in accordance with laws and regulations, issuing private asset management products to support debt-to-equity swaps; issuing financial bonds; raising funds through bond repurchase, interbank lending, interbank borrowing, and other methods.

Approval for Du Chunyang to serve as Director and Chairman of China Post Financial Asset Investment Co., Ltd.; approval for Zhu Yuanrong to serve as Director and President of China Post Financial Asset Investment Co., Ltd.; approval for Peng Zuogang, Ge Xiaoli, Zhou Qiong, and Deng Ping to serve as Directors of China Post Financial Asset Investment Co., Ltd.; approval for Lu Jichao to serve as Vice President of China Post Financial Asset Investment Co., Ltd.