Recently, the China Banking and Insurance Regulatory Commission approved the "Bank of Communications' request for the issuance of the total loss-absorbing capacity non-capital debt instrument plan." The approval information indicates that the regulatory commission has agreed to Bank of Communications issuing 130 billion yuan or equivalent foreign currency total loss-absorbing capacity non-capital debt instruments, and requires Bank of Communications to strictly comply with the relevant regulations such as the "Global Systemically Important Banks Total Loss-Absorbing Capacity Management Measures." The regulatory commission stated that Bank of Communications can autonomously decide on the issuance time, batches, and scale within the approved quota, and must complete the issuance by December 31, 2024. After the issuance application of Bank of Communications was approved by the regulators, it also signifies that the issuance applications of the five banks currently selected in the global systemically important banks list in China have all been approved. Additionally, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank Corporation have all completed the initial issuance work of total loss-absorbing capacity non-capital bonds.