First Licensed Dedicated Custody Center Opens Following New Banking Regulations

Eight months after receiving approval to establish operations, the Beijing Financial Regulatory Bureau granted Guangfa Bank's asset custody center its license on October 16. This marks the first independent institution approved and opened for dedicated custody business since the implementation of the 'Supervisory Measures for Custody Business of Commercial Banks (Trial)' on February 1 this year. According to reporters, Guangfa Bank previously elevated its asset custody department to a first-level division, positioning custody as a key business segment early on while leveraging resources from its shareholder, China Life Insurance, for continuous investment in system construction and collaborative custody services. Reviewing the bank's 2025 annual report reveals performance metrics: by the end of 2025, Guangfa Bank's asset custody and outsourcing operations reached 4.33 trillion yuan, with public and private fund custody exceeding one trillion yuan and generating 586 million yuan in custody fees.