First Licensed Dedicated Custody Center Opens After New Banking Regulations

Eight months after receiving approval to establish operations, the Beijing Financial Regulatory Bureau approved the launch of Guangfa Bank's Asset Custody Center on October 16. This marks the first independent institution licensed for dedicated custody business to open since the implementation of the 'Administrative Measures for Supervision and Administration of Commercial Bank Custody Business (Trial)' on February 1 this year, commonly referred to as the new banking custody regulations. According to reporters, Guangfa Bank previously established its Asset Custody Department as a first-level department, positioning custody business as a key segment early on and 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 figures: by the end of 2025, Guangfa Bank's asset custody and operational outsourcing business scale reached 4.33 trillion yuan, with public and private fund custody assets exceeding one trillion yuan in 2025 alone, generating 586 million yuan in custody fee income.