Article 25 Fund trustee shall be assumed by a commercial bank which was established according to law and has obtained the qualification for fund trust.

Article 26 To apply for the qualification for fund trust, a commercial bank shall satisfy the following conditions and be ratified by the securities regulatory department and the banking regulatory department under the State Council:

1. Its net assets and capital adequacy complying with the relevant provisions;
2. Having set up a specialized department of fund trust;
3. The number of the full-time personnel with fund practice qualification reaching the statutory requirement;
4. Having the conditions for safe keeping of the fund property;
5. Having safe and high efficient clearing and settlement system;
6. Having business sites, security facilities and other facilities relating to fund trust business that meet the requirement;
7. Having sound internal auditing and monitoring system and risk control system;
8. Satisfying other conditions provided for by laws and administrative regulations and the conditions provided for by the securities and banking regulatory departments under the State Council and approved by the State Council.

Article 27 Articles 15 and 18 shall apply to the practitioners of the specialized fund trust department of a fund trustee.

Articles 16 and 17 shall apply to the managers and other senior managerial personnel of the specialized fund trust department of a fund trustee.

Article 28 A fund trustee and a fund manager may not be the same party, and may not make capital contribution to or hold the shares of each other.

Article 29 A fund trustee shall perform the following duties:

1. Keeping the fund property safely;
2. Opening capital accounts and securities accounts of the fund property pursuant to the provisions;
3. Setting up separate accounts for different fund properties under its trust and ensuring the completeness and independence of the fund properties;
4. Keeping the records, account books, statements and other relevant materials of the fund trust business;
5. Handling the clearing and settlement at the investment orders of the fund manager pursuant to the stipulations of the fund contract;
6. Handling the information disclosures relating to the fund trust business activities;
7. Presenting opinions on the fund financial accounting report and the midterm and annual fund reports;
8. Checking and examining the net value of the fund assets and the subscription and redemption prices of the fund shares calculated by the fund manager;
9. Convening the fund share holders'' meeting pursuant to the provisions;
10. Supervising the investment operations of the fund manager pursuant to the provisions;
11. Other duties provided for by the securities regulatory department under the State Council.

Article 30 Where a fund trustee finds out that any investment order of a fund manager is in violation of any of the laws, administrative regulations or other relevant provisions, or the stipulations of the fund contract, it shall refuse to execute such order, notify the fund manager immediately and report to the securities regulatory department under the State Council in good time.

Where a fund trustee finds out that any investment order of a fund manager which has taken effect according to the transaction procedures is in violation of the laws, administrative regulations or other relevant provisions, or the stipulations of the fund contract, it shall notify the fund manager immediately and report to the securities regulatory department under the State Council in good time.

Article 31 The provisions of Article 20 hereof shall apply to fund trustees.

Article 32 With respect to a fund trustee under any of the following circumstances, the securities and banking regulatory departments under the State Council shall, according to their powers, order it to make rectification or disqualify it as a fund trustee:

1. Having committed any serious violation of laws and rules;
2. No longer meeting the conditions provided for in Article 26 hereof;
3. Other circumstances provided for by laws and administrative regulations.

Article 33 The duties of a fund trustee shall be terminated under any of the following circumstances:

1. Being disqualified as a fund trustee;
2. Being dismissed by the fund share holders'' meeting;
3. Being dissolved, cancelled, or declared bankruptcy according to law; or
4. Other circumstances stipulated in the fund contract.

Article 34 Upon termination of the duties of a fund trustee, the fund share holders'' meeting shall appoint a new fund trustee within 6 months; and before the appointment of the new fund trustee, the securities regulatory department under the State Council shall designate a temporary fund trustee.

A fund trustee shall, upon termination of its duties, keep in good conditions the fund property and fund trust business materials and process the formalities for handover of the property and business in good time, the new fund trustee or temporary fund trustee shall take over the property and business in good time.

Article 35 A fund trustee shall, upon termination of its duties, retain an accounting firm to audit its fund property pursuant to the provisions, publicize the auditing results, and report to the securities regulatory department under the State Council for archival purposes at the same time.