Announcement of the China Securities Regulatory Commission [2008] No.34

The China Securities Regulatory Commission (CSRC) hereby announces the “Decision on Authorizing Agencies to Examine Professional Qualifications of Personnel in Futures Companies”, which shall be effective as of September 1, 2008.

August 19, 2008

Decision on Authorizing Agencies to Examine Professional Qualifications of Personnel in Futures Companies

The CSRC has decided to authorize its agencies to examine professional qualifications of futures companies’ board chairmen, chairmen of board of supervisors, independent directors, general managers and deputy general managers (hereinafter referred to as the “Personnel Concerned”), in accordance with the “Regulation on Administration of Futures Trading” and the “Administration Measures for Professional Qualifications of Directors, Supervisors and Senior Management of Futures Companies” (CSRC Decree No.47).

Since September 1, 2008, futures companies or individuals, whose domiciles are within the jurisdiction of the CSRC agencies, shall apply to local agencies for the professional qualifications of the “Personnel Concerned”. The local agencies shall accept the applications and make administrative license decisions according to laws.