The enterprise name approval announcement published by the State Administration for Industry and Commerce on December 4 shows that "China Railway Property Insurance Captive Co., Ltd." has completed name pre-approval. The China Railway property insurance captive will be a controlled subsidiary of the railway corporation; this is the captive's tentative name. Establishment materials were submitted to the CIRC in August, and the company is currently awaiting CIRC approval. The captive's preliminary planned registered capital is RMB 2 billion, though the final capital contribution requires Ministry of Finance approval. If China Railway's captive is approved for establishment, it may become the second professional captive insurance company in mainland China.