The National Financial Supervisory and Administration Commission issued a notice on further expanding the pilot program for Private Equity investments by financial asset investment companies, proposing to broaden the scope of these investments to the provinces where the pilot cities are located. It specifies that relevant Funds can engage in Private Equity investments within the provinces of the pilot cities, which will help expand the project's support scope, attract more social capital to participate in Fund raising, reduce operational costs, and enhance operational efficiency.

The notice states that support is given to qualifying commercial Banks to initiate the establishment of financial asset investment companies. Currently, five large commercial Banks have established financial asset investment companies through the pilot, exploring important models for financial support of Technology innovation. Gradually and orderly increasing the number of Institutions participating in the pilot is conducive to mobilizing more funds and resources for the pilot.

At the same time, support is provided for Insurance funds to participate in the Private Equity investment pilot of financial asset investment companies, clarifying that Insurance funds are legally and compliantly supported to invest in financial asset investment companies through private equity investment Funds issued by subsidiaries, Bonds issued by financial asset investment companies, or Shareholding in financial asset investment companies. This is beneficial for leveraging the long-term investment advantages of Insurance funds, broadening the sources of funds for Private Equity investment pilots, and further enriching the diversified financing system for Technology enterprises.