Article 51 The subscription, redemption and registration of an open fund shall be handled by the fund manager; and the fund manager may entrust another agency recognized by the securities regulatory department under the State Council to handle the matters on its behalf.

Article 52 A fund manager shall handle the subscription and redemption of fund shares every workday; if there are otherwise stipulations in the fund contract, such stipulations shall be observed.

Article 53 A fund manager shall pay for the redemption on time, except under any of the following circumstances:

1. The fund manager is unable to pay for the redemption due to force majeure;
2. The securities exchange decides to close the market according to law and as a consequence, the fund manager is unable to calculate the net value of the fund assets of that day;
3. Other special circumstances stipulated in the fund contract.

Under any of the abovementioned circumstances, the fund manager shall report to the securities regulatory department under the State Council for archival purposes on that exact day.After the circumstances provided for in the first paragraph of this article are eliminated, the fund manager shall pay for the redemption in good time.

Article 54 Sufficient cash or government bonds shall be kept in the case of an open fund as the provision for payment for the redemption by the fund share holders. The specific proportion of the cash or government bonds in the fund property shall be provided for by the securities regulatory department under the State Council.

Article 55 The prices of subscription and redemption of fund shares shall be calculated on the basis of the net value of the of the fund shares subscribed to and redeemed plus or minor the relevant expenses.

Article 56 If any error occurs in the calculation of price on the basis of the net value of the fund shares, the fund manager shall correct such error and take reasonable steps to prevent further losses. Where the wrongly calculated price reaches 0.5% of the net value of the fund shares, the fund manager shall make a pubic announcement and report to the securities regulatory department under the State Council for archival purposes. Where the error in the calculation of price on the basis of the net value of the fund shares causes any loss to a fund share holder, that fund share holder shall have the right to require the fund manager and fund trustee to make compensation.