China Merchants Bank Co. Ltd. has announced that it has received regulatory approval from the National Financial Regulatory Administration for the commencement of business of its wholly-owned subsidiary, China Merchants Bank Financial Asset Investment Co., Ltd. The new entity, with a registered capital of RMB 15 billion, will focus on market-based debt-to-equity swaps and equity investment operations to enhance industry-finance synergies and support technological innovation. The bank will proceed with industrial and commercial registration and obtain a business license in accordance with relevant regulations. No other organizations were named as recipients of this approval.
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