No.3 The Contents and Formats of Interim Report

Contents

Chapter 1 General Provisions

Chapter 2 Main Parts of Interim Report

Section 1 Important Notes and Contents

Section 2 Funds Introduction

Section 3 Major Financial indicators and fund Net Asset Value Performance

Section 4 Management Report

Section 5 Custodian Report

Section 6 Financial report

Section 7 Investment Portfolio Report

Section 8 Numbers and Structure of Fund Unit Holders (and the Top Ten Holders)

Section 9 Change of Open-end Fund Unit

Section 10 Disclosure of Important Event

Section 11 Contents of Documents for Reference

Chapter 3 Summary of Interim Report

Chapter 4 Supplementary Provisions

Chapter 1 General Provisions

1. To standardize the preparation and disclosure of the interimreports for securities investment funds (hereinafter referred to as the Funds) and protect the legal rights and interests of the fund unit holders, Standards Concerning the Contents and Formats of Information Disclosure Required for Securities Investment Funds-No.3 The Contents and Formats of Interim Report (the Standards) are formulated in accordance with Securities Investment Funds Law (hereinafter referred to as the Funds Law) and Administrative Measures on Information Disclosure for Securities Investment Funds (hereinafter referred to as the Administrative Measures ).

2. For the funds for which the fund units are publicly offered in the People’s Republic of China and filing procedures are handled according to the Funds Law, the Fund Manager shall prepare and disclose the interimreport pursuant to the requirements of the Standards.

3. The board of directors and directors of the Fund Manager shall ensure the truth, accuracy and integrity of the contents of the interimreport. They shall undertake that there exists no false statement, misleading information or major omission in the report and assume the relevant separate and joint responsibilities. The approval of over 2/3 of the independent directors shall be obtained for the disclosure of the interimreport, which shall be signed for release by the board chairman. In case any director cannot provide guarantee for or has dissent on the truth, accuracy and integrity of the contents of the interimreport, the director shall provide the reasons and air his/her view separately.

The Fund Custodian shall check and review the financial indexes, net value performance, financial and accounting report and investment portfolio report in the interimreport and provide comments to ensure the truth, accuracy and integrity of the report. The Fund Custodian shall undertake that there exists no false statement, misleading information or major omission in the report.

4. The Standards are to specify the minimum requirements on the information disclosure of the interimreport. The information that will have significant impact on the decision of the investors shall be disclosed by the Fund Manager, no matter it is prescribed in the Standards or not. In case the specific requirements of the Standards are inapplicable to the Fund, with the approval of the China Securities Regulatory Commission (hereinafter referred to as the CSRC), the Fund Manager can make proper adjustment according to the actual situations provided the integrity of the disclosure shall not be impaired.

5. The context of the interimreport shall be prepared pursuant to the requirements of Chapter 2, and the summary of the interimreport shall be prepared as per Chapter 3.

The summary does not need to include all the contents of the context, but it shall be based on the context. There shall not exist any conflict between the summary and the context.

6. The financial and accounting report in the interimreport does not need to be audited, unless otherwise specified by the CSRC or the stock exchange. The unaudited financial and accounting report shall be marked with the “unaudited” character.

7. The following information shall be provided on the cover of the interimreport: the words “Interim Report”, the period and year for the report, the name of the Fund Manager and Fund Custodian and the delivery date. The contents of the interimreport shall be arranged at the obvious place of the cover.

8. The Fund Manager shall complete the interim report in 60 days after the ending of the first 6 months of the fiscal year. The context of the report shall be published on the website of the Fund Manager, and the summary of the report shall be published on at least one national periodical designated by the CSRC. The smallest character size for the report summary published on the periodical shall be 10.5 pounds.

9. Before the official publication of the interim report, no one shall disclose any relevant information or seek improper profit with such information.

10. The interim report shall be concise and easy to understand.

11. The Fund Manager shall perform the report provision duty as per article 31 of the Administrative Measures.

12. The Fund Manager shall perform the filing duty following the time and method specified in article 22 of Administrative Measures.

Chapter 2 Context of Interim Report

Section 1 Important Notes and Contents

13. Important notes shall be provided in the head page of the interim report, including but not limited to:

The board of directors and directors of the Fund Manager undertake that there exists no false statement, misleading information or major omission in the report, and the directors will assume separate and joint responsibilities for the truth, accuracy and integrity of the report. The interim report has been approved by over 2/3 of the independent directors and signed by the board chairman. In case any director cannot provide guarantee for or has dissent on the truth, accuracy and integrity of the report, the Fund Manager shall make clear statement that XX, the director, cannot provide guarantee for the truth, accuracy and integrity of the report, with the following grounds: The investors shall pay special attention to this.

XX, the Fund Custodian, reviewed the financial indexes, net value performance, financial and accounting report and investment portfolio report in the interim report on (date) pursuant to the fund contract and guarantees that there exists no false statement, misleading information or major omission in the report.

The Fund Manager undertakes to manage and operate the fund assets honestly and in due diligence, but there is no guarantee for the profitability of the fund.

The past performance of the fund does not indicate its future performance. There may be risks arising out of the investment, so the investors shall read carefully the fund prospectus before making investment decision.

14. The titles of the chapters and sections and the corresponding pages shall be clearly indicated in the contents of the report.

Section 2 Funds Introduction

15. The following information about the fund shall be disclosed:

(1) Name of fund, simplified name of fund, transaction code, operation mode, effective date of fund contract, total fund units at the end of report period, duration of fund contract (if any), stock exchange in which the fund unit is traded (if any), listing date (if any),

(2) Investment target, investment strategy, performance comparison benchmark (if any), risk return features (if any),

(3) Information about the Fund Manager, such as the name, domicile, office address, postal code, legal representative, person in charge of information disclosure, contact phone number, fax number, email address,

(4) Information about the Fund Custodian, such as the name, domicile, office address, postal code, legal representative, person in charge of information disclosure, contact phone number, fax number, email address,

(5) Name of the newspaper for information disclosure, Fund Manager’s website for publishing the interim report context, place for providing the interim report,

(6) Other relevant information: name and office address of the registration institution.

Section 3 Major Financial Indexes and Net Value Performance of Fund

16. The following accounting data and financial indexes for the report period shall be disclosed: net income of the fund for this period, net income of the fund unit for this period, distributable income of the fund at the end of period, distributable income of fund unit at the end of period, net assets of the fund at the end of period, net assets of the fund unit at the end of period, yield of the weighted average net value of the fund, yield of the weighted average net value of the fund unit, accumulated growth rate for net value of the fund unit.

The relevant indexes of the fund shall be calculated and disclosed pursuant to Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds- No.1 Calculation and Disclosure of Major Financial Indexes. The calculation formula of the financial indexes does not need to be disclosed.

17. The comparison between the growth rate of the net value of the fund unit for past period and the growth rate of the performance comparison benchmark for the same period shall be provided in table. The periods include 1 month, 3 months, 6 months, 1 year, 3 years and the duration from the effective date of the contract to the date. The change of net value of the fund unit ever since the effectiveness of the fund contract shall be illustrated and compared against the change of the performance comparison benchmark for the same period.

The net value performance of the fund shall be prepared and disclosed in accordance with Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds –No.2 Preparation and Disclosure of Net Value Performance of Fund.

Section 4 Manager Report

18. The information about the Fund Manager and the manager in charge of the fund (or member of the fund manager group) shall be provided, including the experiences of the Fund Manager in managing funds, the names and resumes of the manager in charge of the fund (or member of the fund manager group).

19. The information about the law compliance and commitment for the fund operation during the report period shall be provided, including whether the Fund Manager has conducted any activities impairing the interests of the fund unit holder, whether the Fund Manager has tried to seek profit for the fund unit holder in due diligence, and whether the Fund Manager has been strictly complying with the Funds Law, other relevant laws and regulations and the fund contract. In case there is any breach of laws and regulations or nonperformance of the contract, particulars and countermeasures shall be provided. 

20. The investment strategies and performance of the fund during the report period shall be explained based on the situations of the macro economy and the securities market.

21. Prospective on the macro economy, securities market and industry trend shall be provided, but no trend forecast of the specific securities shall be made.

Section 5 Custodian Report

22.The custodian shall make a statement on whether it has conducted any activities impairing the interests of the fund unit holder, whether it has been strictly complying with the Funds Law, other relevant laws and regulations and the fund contract and whether it has performed its duties in due diligence during the report period.

23. The Custodian shall state whether the Fund Manager has conducted any activities impairing the interests of the fund unit holder or has been complying with the Funds Law and other relevant laws and regulations in terms of investment operation, calculation of fund net asset, calculation of subscription or redemption price of fund unit and fund expenses, and whether the Fund Manger has been observing the fund contract in other significant issues. In case the Fund Manager fails to comply with the relevant regulations, the Custodian shall give clear indication of the problems found, the countermeasures taken by the Fund Manager and the improvements.

24. The Custodian shall provide comments on the truth, accuracy and integrity of the financial indexes, net value performance, financial and accounting report and investment portfolio report in the interim report.

Section 6 Financial and accounting report

25.The interim financial statement and notes to financial statement shall be disclosed.

26. The interim financial statement shall contains the comparative balance sheets for the end of report period and the previous year end, the comparative business performance statements and income distribution statements for the report period and the comparable period in the previous year, and the comparative net value change statements for the report period and the comparable period in the previous year. The financial statement shall be prepared and disclosed pursuant to the relevant regulations promulgated by the Ministry of Finance and the CSRC.

27. The notes to the interim financial statement shall specially address the updated information against the financial and accounting report of the previous year, and the Materiality Principle shall be observed. The notes to the financial statement shall at least contain the following contents:

(1) The statement that the accounting policy and accounting estimates for the interim financial statement are the same as those of the previous year. In case there is change in the accounting policy or accounting estimates, the content, reason and influence of the change shall be provided. Where the influence cannot be determined, the reason shall be provided.

In case the fund contract becomes effective during the report period or the annual report of the fund for the previous year is exempted from disclosure, the accounting policy and accounting estimates for the report period shall be provided.

(2) Major accounting errors and corrections for the report period,

(3) The change of the affiliated relation during the report period, the affiliated transactions for the report period and the comparable period in the previous year,

(4) The explanation of the important items in the financial statement. The data for the end of the report period or during the period shall be provided.

(5) Description about the fund assets whose liquidity and transfer are restricted at the end of the report period,

(6) Other matters helpful for the understanding and analysis of the financial statement. 

The above matters shall be disclosed in accordance with Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds - No.3 Preparation and Disclosure of Notes to the Financial statements.

Section 7 Investment Portfolio Report

28. The investment portfolio report shall be disclosed pursuant to Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds - No.4 Preparation and Disclosure of Investment Portfolios Report. The following information shall be disclosed.

(1) Information about the fund asset combination

(2) Share investment portfolios (if any) classified by industries at the end of report period

(3) Details of all the shares (if any) sequenced based on the proportions of the market values in the net assets of the fund at the end of period

(4) Major change in the share investment portfolio (if any) during the report period

(5) Bond investment portfolios classified by bonds at the end of report period

(6) Details of the top five bonds sequenced based on the proportions of the market values in the net assets of the fund at the end of period

(7) Notes to the investment portfolio report. 

Section 8 Members and Structure of Fund Unit Holders (and the Top Ten Holders)

29. The following information for the fund at the end of the report period shall be disclosed: Number of the fund unit holders, average fund units held by each holder, fund units held by institutional investors and individual investors and the proportions of such units in the total units. The names of the top ten holders, the units held by them and the proportions of such units in the total units shall also be disclosed for the listed funds.

Section 9 Change of Open-end Fund Unit

30. The total fund units upon the effective date of the fund contract, the change of the fund unit during the report period shall be disclosed for the open-end funds (As to the funds for which the fund contract takes effect during the report period, the change of the fund unit ever since the effectiveness of the contract shall be disclosed). The following information shall be disclosed for the fund unit change: the total fund units at the beginning of the report period, the total fund units at the end of the report period, the total unit subscriptions and total redemptions during the report period.

Section 10 Disclosure of Important Event

31. The important events occurring during the report period shall be disclosed, including but not limited to:

(1) Resolution of general meetings of fund unit holders,

(2) Major personnel change in the fund custodian department of the Fund Manager and Fund Custodian,

(3) Litigation involving the Fund Manager, fund assets and fund custodian business,

(4) Change of fund investment strategy,

(5) Issues concerning the fund income distribution,

(6) Particulars about the replacement of the accounting firms auditing the fund, including the reason for dismissing the accounting firm and whether the necessary procedures have been handled,

(7) The information about the investigation or penalty of the Fund Manger, Fund Custodian and their senior managers by the supervisory authorities, including the times of the investigation or penalty, the reason and the conclusion. In case the supervisory authority orders for rectification, the information about the rectification shall also be provided. 

(8) The information about special transaction seats of the securities company hired by the fund, including the name of the securities company, the number of the seats hired, the turnover of the shares, bonds, bond repurchase transacted through the special seats and the proportions of such turnover in the total turnovers of the fund for the transactions of the same kind during the report period, the commission paid to the securities company and the proportion of such commission in the total commissions during the report period, the change of the seats hired during the report period.

For other important events occurring during the report period that are not specified in the above paragraphs but have been disclosed in the interim report, the name of event, the name of the newspaper for disclosure and the date of disclosure shall be provided. 

Section 11 Contents of Documents for Reference

32. The contents, storage place and consultation methods of the documents for reference shall be disclosed.

Chapter 3 Summary of Interim Report

Section 1 Important Notes

33. In addition to the important notes provided as per Article 13, the following statement shall be made: the summary is extracted from the context of the interim report. For details of the report, the investors shall read the context of the report.

Section 2 Fund Introduction

34. The following information shall be disclosed for the fund:

(1) The simplified name of the fund, the transaction code, the operation mode, effective date of the fund contract, total fund units at the end of report period, duration of fund contract (if any), stock exchange for the listing of the fund unit (if any), date of listing (if any),

(2) The investment target, investment strategy, performance comparison benchmark (if any), risk return features (if any) of the fund,

(3) The name of the Fund Manger, the person in charge of information disclosure and the contact information,

(4) The name of the Fund Custodian, the person in charge of information disclosure and the contact information,

(5) The website of the manager for publishing the context of the interim report, the place for providing the report.

Section 3 Major Financial Indexes and Net Value Performance of Fund

35. The following financial indexes for the report period shall be disclosed: net income of the fund for the period, net income of the fund unit for the period, distributable income of the fund unit at the end of period, net assets of the fund at the end of period, net assets of the fund unit at the end of period, growth rate of the net value of the fund unit for the period.

36. The net value performance of the fund shall be disclosed pursuant to Article 17.

Section 4 Manager Report

37. The information about the Fund Manager and the managers in charge of the fund (or members of the fund manager team) shall be disclosed as per Article 18.

38. Statement shall be made on the law compliance and commitment for the fund operation during the report period according to Article 19.

39. Explanations shall be provided for the investment strategy and performance of the fund during the report period pursuant to Article 20.

40. Prospective shall be made on the macro economy, the securities market and the industry trend in accordance with Article 21.

Section 5 Custodian Report

41. The Fund Custodian Report shall be disclosed according to the requirements of Articles 22, 23 and 24.

Section 6 Financial and accounting report

42. The interim financial statement shall be disclosed, including the comparative balance sheets for the end of report period and the previous year end, the comparative business performance statements and income distribution statements for the report period and the comparable period in the previous year, and the comparative net value change statements for the report period and the comparable period in the previous year.

43. The Notes to Financial statements shall be disclosed according to the requirements of paragraphs 1, 2, 3 and 5 of Article 27.

Section 7 Investment Portfolio Report

44. The investment portfolio report shall be disclosed pursuant to Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds - No.4 Preparation and Disclosure of Investment Portfolios Report. The following information shall be disclosed.

(1) Information about the fund asset combination at the end of report period,

(2) Share investment portfolios classified by industries (if any) at the end of report period,

(3) Details of the top ten shares (if any) sequenced based on the proportions of the market value in the net assets of the fund at the end of period. In case the index fund has both active investment and index investment, the details of the respective top five shares for the active investment and index investment shall be provided.

(4) Major change of the share investment portfolio (if any) during the report period,

(5) Bond investment portfolios classified by bonds at the end of report period,

(6) Details of the top five bonds sequenced based on the proportion of the market value in the net assets of the fund,

(7) Notes to the investment portfolio report.

When disclosing the share details for the fund investment, the following notes shall be provided: “For the details of all the shares for the fund investment at the end of report period, the investor shall read the context of the interim report published on the following website: xx”.

Section 8 Members and Structure of Fund Unit Holders (and the Top Ten Holders)

45. Such information as the number of the fund unit holders, the average fund unit held by each holder and the holder structure shall be disclosed for the fund pursuant to Article 29. The information about the top ten holders shall be provided for the listed fund.

Section 9 Change of Open-end Fund Unit

46. The change of the open-end fund unit shall be disclosed pursuant to Article 30.

Section 10 Disclosure of Important Event

47. The important events occurring during the report period shall be disclosed according to Article 31.

Chapter 4 Supplementary Provisions

48. The Standards shall come into force on July 1, 2004. And section 4 of Implementation Rules for Interim Administrative Measures on Securities Investment Funds-No.5 Instructions on Information Disclosure for Securities Investment Funds (No.11 [1999] CSRC), Contents and Formats of Interim Reports (Provisional), shall be repealed at the same time.

The China Securities Regulatory Commission

(This English version by Shenzhen Securities Information Co., Ltd. is for your reference only. In case any discrepancy exists between the Chinese and English context, the Chinese version shall prevail.)

Standards Concerning the Contents and Formats of Information Disclosure Required for Securities Investment Funds

No.4 The Contents and Formats of Quarterly Report

Contents

Chapter 1 General Provisions

Chapter 2 Context of Quarterly Report

Section 1 Important Notes

Section 2 Overview of Fund Products

Section 3 Major Financial Indexes and Net Value Performance of Fund

Section 4 Manager Report

Section 5 Investment Portfolio Report

Section 6 Change of Open-end Fund Unit

Section 7 Contents of Documents for Reference

Chapter 3 Supplementary Provisions

Chapter 1 General Provisions

1.To standardize the preparation and disclosure of the quarterly reports for securities investment funds (hereinafter referred to as the Funds) and protect the legal rights and interests of the fund unit holders, Standards Concerning the Contents and Formats of Information Disclosure Required for Securities Investment Funds—No.4 The Contents and Formats of Quarterly Report (the Standards) are formulated in accordance with Securities Investment Funds Law (hereinafter referred to as the Funds Law) and Administrative Measures on Information Disclosure for Securities Investment Funds (hereinafter referred to as the Administrative Measures ).

2. For the funds for which the fund units are publicly offered in the People’s Republic of China and filing procedures are handled according to Funds Law, the Fund Manager shall prepare and disclose the quarterly report pursuant to the requirements of the Standards.

3. The board of directors and directors of the Fund Manager shall ensure the truth, accuracy and integrity of the contents of the quarterly report. They shall undertake that there exists no false statement, misleading information or major omission in the report and assume the relevant separate and joint responsibilities. In case any director cannot provide guarantee for or has dissent on the truth, accuracy and integrity of the contents of the quarterly report, the director shall provide the reasons and air his/her view separately.

The Fund Custodian shall check and review the financial indexes, net value performance, financial and accounting report and investment portfolio report in the quarterly report and provide comments to ensure the truth, accuracy and integrity of the report. The Fund Custodian shall undertake that there exists no false statement, misleading information or major omission in the report.

4. The Standards are to specify the minimum requirements on the information disclosure of the quarterly report. The information that will have significant impact on the decision of the investors shall be disclosed by the Fund Manager, no matter it is prescribed in the Standards or not. In case the specific requirements of the Standards are inapplicable to the Fund, with the approval of the China Securities Regulatory Commission (hereinafter referred to as the CSRC), the Fund Manager can make proper adjustment according to the actual situations provided the integrity of the disclosure shall not be impaired.

5. The financial and accounting report in the quarterly report does not need to be audited, unless otherwise specified by the CSRC or the stock exchange. The unaudited financial and accounting report shall be marked with the “unaudited” character.

6. The Fund Manager shall complete the quarterly report in 15 days after the ending of each quarter. The context of the report shall be published on the website of the Fund Manager and on at lease one national periodical designated by the CSRC. The smallest character size for the report published on the periodical shall be 10.5 pounds.   

7. The quarterly report shall be concise and easy to understand.

8. The Fund Manager shall perform the report provision duty as per article 31 of the Administrative Measures.

9. The Fund Manager shall perform the filing duty following the time and method specified in article 22 of the Administrative Measures.

Chapter 2 Context of Quarterly Report

Section 1 Important Notes

10. Important notes shall be provided for the quarterly report, including but not limited to:

The board of directors and directors of the Fund Manager undertake that there exists no false statement, misleading information or major omission in the report, and the directors will assume separate and joint responsibilities for the truth, accuracy and integrity of the report. In case any director cannot provide guarantee for or has dissent on the truth, accuracy and integrity of the report, the Fund Manager shall make clear statement that XX, the director, cannot provide guarantee for the truth, accuracy and integrity of the report, with the following grounds:…. The investors shall pay special attention to this.

XX, the Fund Custodian, reviewed the financial indexes, net value performance, financial and accounting report and investment portfolio report of the quarterly report on (date) pursuant to the fund contract and guarantees that there exists no false statement, misleading information or major omission in the report.

The Fund Manager undertakes to manage and operate the fund assets honestly and in due diligence, but there is no guarantee for the profitability of the fund.

The past performance of the fund does not indicate its future performance. There may be risks arising out of the investment, so the investors shall read carefully the fund prospectus before making investment decision.

Section 1 Overview of Fund Products

11. The following information shall be disclosed: Simplified name of fund, operation mode of fund, effective date of fund contract, total fund units at the end of report period, investment target, investment strategy, performance comparison benchmark (if any), risk return features (if any), name of the Fund Manager and Fund Custodian.

Section 2 Major Financial Indexes and Net Value Performance of Fund

12. The following accounting data and financial indexes for the report period shall be disclosed: net income of the fund for this period, net income of the fund unit for this period, net assets of the fund at the end of period, net assets of the fund unit at the end of period.

The relevant indexes of the fund shall be calculated and disclosed pursuant to Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds –No.1 Calculation and Disclosure of Major Financial Indexes. The calculation formula of the financial indexes does not need to be disclosed.

13. The comparison between the growth rate of the net value of the fund unit for the past period and the growth rate of the performance comparison benchmark for the same period shall be provided in table. The change of net value of the fund unit ever since the effectiveness of the fund contract shall be illustrated and compared against the change of the performance comparison benchmark for the same period.

The net value performance of the fund shall be prepared and disclosed in accordance with Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds –No.2 Preparation and Disclosure of Net Value Performance of Fund.

Section 3 Manager Report

14. The information about the manager in charge of the fund (or the members of the fund manager group) of the Fund Manager shall be provided.

15. The information about the law compliance and commitment of the fund operation shall be provided. In case there is any breach of laws and regulations or nonperformance of the fund contract, the particulars and the relevant countermeasures shall be specified.

16. The investment strategies and performance of the fund during the report period shall be explained based on the situations of the macro economy and the securities market.

Section 4 Investment Portfolio Report

17. The investment portfolio report shall be disclosed pursuant to Standards Concerning the Disclosure and Preparation Convention Required for Securities Investment Funds - No.4 Preparation and Disclosure of Investment Portfolios Report. The following information shall be disclosed.

(1) Information of the fund asset combination at the end of report period

(2) Share investment portfolio (if any) classified by industries at the end of report period

(3) Details of the top ten shares (if any) sequenced based on the proportions of the market value in the net assets of the fund at the end of period. In case the index fund has both active investment and index investment, the details of the respective top five shares for the active investment and index investment shall be provided.

(4) Bond investment portfolio classified by bonds at the end of report period,

(5) Details of top five bonds sequenced based on the proportion of the market value in the net assets of the fund,

(6) Notes to investment portfolio report.

Section 5 Change of Open-end Fund Unit

18. The change of the fund unit during the report period shall be disclosed for the open-end fund (As to the funds for which the fund contract takes effect during the report period, the change of the fund unit ever since the effectiveness of the contract shall be disclosed), including the total fund units at the beginning of the report period (or on the effective date of the contract), the total fund units at the end of the report period, the total unit subscriptions and total redemptions during the report period.

Section 6 Contents of Documents for Reference

19. The contents, storage place and consultation methods for the documents for reference shall be disclosed.

Chapter 3 Supplementary Provisions

20. The Standards shall come into force on July 1, 2004.

The China Securities Regulatory Commission

(This English version by Shenzhen Securities Information Co., Ltd. is for your reference only. In case any discrepancy exists between the Chinese and English context, the Chinese version shall prevail.)