General Provisions of Provisional Measures Administration of Domestic Securities Investments of Qualified Foreign Institutional Investors (QFII)
(December 1st, 2002)

Article 1 Based upon China's relevant laws and administrative regulations, this Regulation was promulgated for the purpose of governing Qualified Foreign Institutional Investors' investments in China's securities market and promoting developments of China's securities market.

Article 2 Qualified Foreign Institutional Investors (hereinafter referred to as "QFII" which can be a single or a plural, as the case may be) are defined in this Regulation as overseas fund management institutions, insurance companies, securities companies and other assets management institutions which have been approved by China Securities Regulatory Commission (hereinafter referred to as "CSRC") to invest in China's securities market and granted investment quota by State Administration of Foreign Exchange (hereinafter referred to as "SAFE").

Article 3 QFII should mandate domestic commercial banks as custodians and domestic securities companies as brokers for their domestic securities trading.

Article 4 QFII should comply with laws, regulations and other relevant rules in China.