It is possible in theory. At present, only five commercial banks, namely Industrial and Commercial Bank of China, Agricultural Bank of China, China Bank, China Construction Bank and Bank of Communications, are qualified as custodians. At the same time, there is no institution holding these five banks and a fund company.

In addition, if it is to be extended to the actual controller, as long as the fund companies under the Ministry of Finance and the State-owned Assets Supervision and Administration Commission generally control these five banks.