Securities company's asset management subsidiary enthusiastically withdraws application for public fund license.

The latest approval list released by the China Securities Regulatory Commission shows that Guojin Asset Management, the last securities company asset management subsidiary in line to apply for a public offering license, has quietly disappeared from the list. As a result, the four securities company asset management subsidiaries that were still in line at the beginning of the year to apply for public offering licenses have all withdrawn their applications, clearing the approval queue to zero. In response to this adjustment, a person familiar with Guojin Securities told reporters that in accordance with the development direction of the industry, at this stage they will concentrate resources to consolidate the core competitiveness of existing asset management business, deeply cultivate niche areas, and provide investors with more precise asset management services.