Article 65 The method of fund operation may be changed on the basis of stipulations of the fund contract or the resolution of the fund share holders'' meeting and upon the ratification of the securities regulatory department under the State Council.

Article 66 The following conditions shall be satisfied if the a closed fund is to raise more capital or the valid term of the fund contract thereof is to be extended, and the ratification of the securities regulatory department under the State Council is required:

1. Having good fund performance;
2. The fund manager having no record of administrative or criminal punishment for violations of laws or rules within the last 2 years;
3. The plan being adopted by the fund share holders'' meeting through resolution;
4. Other conditions provided for herein.

Article 67 The fund contract shall terminate under any of the following circumstances:

1. The valid term of the fund contract has not been extended upon expiration;
2. The fund share holders'' meeting decides to terminate the contract;
3. The duties of the fund manager and fund trustee terminate and there are no new fund manager and fund trustee to take over the duties within 6 months; or
4. Other circumstances stipulated in the fund contract.

Article 68 Upon termination of the fund contract, the fund manager shall organize a liquidation group to make liquidation of the fund property.

The liquidation group shall consist of the fund manager, fund trustee and the relevant intermediary agencies.

The liquidation report made by the liquidation group shall be audited by the accounting firm, and shall, after the law firm issues the letter of legal opinions, being submitted to the securities regulatory department under the State Council for archival purposes and a public announcement shall be made.

Article 69 The residual fund property after the liquidation shall be distributed according to the proportions of the shares held by the fund share holders.