Contents

Shanghai Securities Market...... 1

Historical Review ...... 1 Securities Products ...... 1

2010 Market Review...... 5

Overview...... 5 Securities Issuance and Listing ...... 5 Market Operations ...... 5 Introduction to margin trading and short selling business...... 14 Major SSE Events in 2010...... 16 Market Highlights...... 18 Transactions...... 18 Stock Indices ...... 18 Ratios ...... 19

Stock Market ...... 23

Trading System ...... 23 Trading Relations ...... 23 Table of Fees Charged and Taxes Withheld by SSE ...... 29 2010 Monthly Trading Volume, Trading Value and P/E Ratio ...... 35 Top 20 Most Traded Stocks by Turnover Volume ...... 36 Top 20 Most Traded Stocks by Trading Value ...... 37 Top 20 Gainers ...... 38 Top 20 Losers ...... 38 Top 10 in Short Selling ...... 40 Top 10 in Margin Trading...... 41 SSE Index Compilation ...... 42 SSE Enterprise Bond 30 Index...... 50 Number of Constituents in SSE Indices ...... 56 Market Cap and Weight of Constituent Stocks in SSE 50 Index...... 57 Market Cap and Weight of Constituent Stocks in SSE 180 Index...... 59

Listed Companies ...... 73

Issuance Conditions for IPOs ...... 73 Listing Conditions for IPOs ...... 77 SSE Guide to Securities Listing Procedures ...... 77

2011 Fact Book III Conditions for listed companies to issue securities to the public ...... 80 Share Placements of Listed Company ...... 82 Additional Issuance by Listed Companies ...... 83 Special Treatment ...... 83 If any of the following circumstances apply to a listed company, other special treatments shall be implemented delisting in the shares of the company:...... 84 Suspension and Termination of Listing ...... 84 Listing Agreements ...... 85 Listing Conditions for Convertible Corporate Bonds ...... 86 Listing Conditions for Warrants ...... 86 Number and Sector Distribution of Listed Companies ...... 87 Geographical Distribution of Listed Companies ...... 88 Newly Listed Stocks in 2010...... 89 Newly Listed Companies in 2010 ...... 90 Rights Issues by Listed Companies in 2010 ...... 93 Equity Structure of Listed Companies (2010 year-end)...... 94 Top 50 Listed Companies by Market Capitalization ...... 95 Top 50 Listed Companies by Market Capitalization ...... 97 Dividend Distribution by Listed Companies in 2010 ...... 99 Changes of Stock Short Names in 2010...... 117 Table of Changes in the Names of Listed Companies in 2010...... 119 Companies Subject to Delisting Risk Warnings in 2010...... 121 Companies Subject to Listing Suspension in 2010 ...... 124 Companies Subject to Listing Termination in 2010...... 124 Companies Subject to Listing Resumption in 2010...... 124 Companies Subject to Cancellation of Special Treatment in 2010 ...... 125

Listed Warrants ...... 129

Listed Warrants(continued) ...... 130

Bond Market ...... 133

Conditions for Government Bond Listings ...... 134 Conditions for Enterprise Bond Listings ...... 134 Conditions for Corporate Bond Listings ...... 134 Applications for Corporate Bond Listings ...... 134 Approval of Corporate Bond Listings...... 135 Public Issuance of Convertible Corporate Bonds by Listed Companies ...... 136 Public Issuance of Separately Traded Convertible Corporate Bonds by Listed Companies...... 137 Profile of Government Bonds in 2010...... 138 Summary of Corporate Bonds in 2010(Including Convertible Bond) ...... 147 Trading Volume of Bond in Each Month of 2010 ...... 159

2011 Fact Book IV Monthly Bond Turnover in 2010 ...... 159 Trading Volume of Government Bond in Each Month of 2010 ...... 160 List of Convertible Corporate Bonds (CCB) Openly Issued by Listed Companies in 2010...... 161

Funds ...... 165

Overview ...... 165 Status of the Fund Market in SSE...... 165 Overview of Exchange Traded Fund (ETF) on SSE ...... 165 Summary of Funds in 2010...... 167 NAV of Securities Investment Funds (2010 year-end)...... 168

Members...... 171

Overview of Members ...... 171 Overview of Member Regulation and Services...... 171 Geographical Distribution of SSE Members and Their Business Branches in 2010...... 173 Membership (1990-2010) ...... 175 Top 50 Members by Turnover in 2010 ...... 176 Top 50 Members by Registered Capital in 2010 ...... 178 Top Lead Underwriters of IPOs in 2010 (by Number of Deals Underwritten)...... 180 Top Lead Underwriters of Rights Issues in 2010 (by Number of Deals Underwritten) ...... 180 Top 20 Members by Margin Trading and Short Selling in 2010 ...... 181 Top 20 Members by Balance of Margin Trading and Short Selling in 2010...... 182 Number of Trading Accounts with SSE 1991-2010...... 183 Breakdown of B-share Investors by Jurisdiction...... 183 Early Share Turnover Value, 1991-2010 ...... 187 Historical Highs in Stock Turnover...... 188 Daily All-time Highs in Turnover Value...... 188 Monthly All-time Highs in Turnover Value...... 188 Quarterly All-time Highs in Turnover Value ...... 188 Top 10 Increases in SSE 50 Index (in percentage)...... 190 Top 10 Decreases in SSE 50 Index (in percentage) ...... 190 Top 10 Increases in SSE 50 Index (in point) ...... 190 Top 10 Decreases in SSE 50 Index (in point)...... 191 Top 10 Increases in SSE 180 Index (in percentage)...... 192 Top 10 Decreases in SSE 180 Index (in percentage) ...... 192 Top 10 Increases in SSE 180 Index (in point) ...... 192 Top 10 Decreases in SSE 180 Index (in point)...... 193 Top 10 Increases in SSE Composite Index (in percentage)...... 194 Top 10 Decreases in SSE Composite Index (in percentage) ...... 194 Top 10 Increases in SSE Composite Index (in point)...... 194 Top 10 Decreases in SSE Composite Index (in point) ...... 195

2011 Fact Book V Listed Shares at SSE, 1990-2010 ...... 196 Major Events and Milestones in SSE History...... 197 World Securities Markets ...... 210 Statistics on Stock Exchanges around the World (as at end of December 2010) ...... 210

Major Publications...... 212

Registered Trademarks of ...... 213

2011 Fact Book VI Shanghai Securities Market

Shanghai Securities Market

Historical Review

Shanghai was the first city in to see stocks, stock trading and stock exchanges.Stock trading started in Shanghai as early as 1860s. In 1891, the Shanghai Sharebrokers Association was established, which was regarded as the primitive form of stock bourses in China. Later in 1920 and 1921, the Shanghai Security Goods Exchange and the Shanghai Chinese Security Exchange commenced operations respectively. By the 1930s, Shanghai had emerged as the financial center of the Far East, where both Chinese and foreign investors could trade stocks, debentures, government bonds and futures. In 1946, Shanghai Securities Exchange Co.Ltd. was created on the basis of Chinese Security Exchange, but ceased operations three years later in 1949. Since 1980, China's securities market has evolved in tandem with the country's introduction of reform and opening up policy and the development of socialist market economy. In 1981, trading in treasury bonds was resumed. In 1984, stocks and enterprise bonds emerged in Shanghai and a few other cities.On November 26, 1990, (SSE) came into existence, and on December 19 of the same year, it started formal operations. After two decades of rapid development, SSE has entered into a new stage with rapidly enlarging market scale, more enhanced fundamental facilities and continuous improved regulation level. After decades of development, SSE has significantly enhanced its technological advantages. It has put into operation the world's most advanced new generation trading system (NGTS), built the global largest stock exchange database, launched a powerful and robust new generation website and established a first-class computer room. In addition, SSE has built a nation-wide securities-specific satellite communication network with complete functions and the largest user base in China. SSE has established a robust and real-time market monitoring system appropriate for market operations. It has put in place a self-regulatory framework that focuses on supervision of listed companies, SSE members and the securities market.

Securities Products

Securities listed on SSE fall into four categories: stocks, bonds, funds and warrants. Stocks are further divided into Class A Shares and Class B Shares, with A Shares limited to domestic investors as well as QFIIs only while B Shares available to both domestic and foreign investors. In 1990, the first batch of 8 A Shares was listed. With the listing of a large number of large, leading and high-quality enterprises, SSE has begun playing its role as a barometer of the national economy. Bonds traded on SSE include treasury bonds (T-bonds), local government bonds, corporate bonds (including those approved by the State Development and Reform Commission), corporate bonds with detachable warrants, and convertible corporate bonds. In addition, securities investment funds (including Exchange Traded Fund -ETF) and warrants are available for trading on SSE. By December 31, the total trading value on SSE in 2010 reached RMB 30.4 trillion, ranking as the third in the world; the daily trading value hit more than RMB 125.7 billion and total value of raised stocks was RMB 553.2 billion, placing the fourth in the world; and the total market capitalization reached RMB 18 trillion, taking the fifth position in the world.

2011 Fact Book 1

Shanghai Securities Market

2011 Fact Book 3 Shanghai Securities Market

2011 Fact Book 4 2010 Market Review

2010 Market Review

Overview

In 2010, the total turnover on SSE was RMB 39839.573 billion, down 9.84% year-on-year. Stock transactions were RMB 30431.201 billion, representing 76.38% of the total turnover. Bond transactions hit RMB 7491.443 billion, accounting for 18.8% of the total turnover. Fund transactions reached RMB 477.17 billion, making up 1.2% of the total. Warrant transactions stood at RMB 1439.758 billion, constituting 3.61% of the total. The average daily stock transactions were RMB 125.749 billion, down 11.45% year-on-year; daily bond transactions stood at RMB 30.956 billion, 89.75% higher than a year earlier; daily fund transactions hit RMB 1.972 billion, down 26.54% from the previous year; and daily warrant transactions were RMB 5.949 billion, down 70.38% year on year. When calculated by tradable shares, the turnover rate of stocks was 198.47%. SSE 50 Index opened the year at 2565.11 points and fell 22.57% to close the year at 1977.37 points after touching a yearly high of 2584.53 points and a yearly low of 1771.49 points, with a volatility of 45.9%. SSE 180 Index opened the year at 7799.24 points and dropped 16.43% to close the year at 6517.60 points after touching a yearly high of 7835.96 points and a yearly low of 5377.66 points, with a volatility of 45.71%. SSE Composite Index opened the year at 3289.75 points and fell 14.64% to finish the year at 2808.08 points after making a yearly high of 3306.75 points and a yearly low of 2319.74 points, with a volatility of 42.56%.

By the end of 2010, SSE recorded a total of 98.51 million trading accounts.

Securities Issuance and Listing

As at the end of 2010, there were 894 listed companies on SSE, with 28 new listings in 2010 (including 2 holistic listings). By the end of the year, there were 938 listed stocks on SSE with a total market capitalization of RMB 17,900.724 billion, representing 3.16% year-on-year, and free-float market capitalization of RMB 14,233.744 billion, up 23.98% from the previous year. The year-end total share capital of all the listed companies reached 2,193.951 billion shares, of which 16,031.3 billion shares or 73.07% were tradable. In 2010, the total amount of equity funds raised was RMB 553.214 billion, ranking SSE at No. 4 globally and No. 3 in Asia.

Market Operations

1. Full guarantee of safe operation of new system and continuous enhancement of safety management level

(1) Full efforts on new trading system during the transition period in which new trading system is put into normal operation A steering group for the transition period was set up to make unified arrangement for the safeguarding of the operation of the new trading system. After the expiration of the 4-month transition period, SSE has launched new businesses and new products, fully verified and implemented new system-based businesses such as ETF issuance for

2011 Fact Book 5 2010 Market Review

multiple days, further improved the connection and cooperation between the business and technical operation teams, and solved the outstanding issues of the new trading system and other peripheral systems. The new trading system has been put into normal operation, and the Exchange’s capacity in serving the market has been greatly increased.

(2) Establishment of safe operation committee for the purpose of enhancing safe operation of SSE After the new trading system is put into normal operation, the SSE Safe Operation Committee coordinates the overall safe operation of the trading system in a unified manner, continuously provides special protection of the first transaction, pays special attention to the process of new product and business launch, further streamlines, simplifies and integrates the business process, and improves the safe operation management of the SSE on the whole. The non-failure rate of the communication system reached an average of 99.99% last year, with the number of suspension and resumption of the trading system of 4304 times, trading parameter maintenance at 4035 times, transaction unit operations at 7247 times, and no failure rate of business operations in general.

(3) Improvement of technical development plan and continuous enhancement of emergency handling capacity A large-scale symposium is organized to conduct in-depth study of the development trend of technical systems, and carry out technical discussion and business evaluation in a scientific and orderly manner. Cross-market comprehensive emergency drills are organized to urge market participants to set up a supplementary and rapid emergency response and handling mechanism; strengthen network and application monitoring, and establishment of complete and effective early warning indicators and reporting mechanism; follow-up optimization of system structure for continuous improvement of the technical management level.

(4) Improvement of Government communication to maintain social stability, and achieving “peaceful World Expo” A steering group for stability maintenance during the World Expo was set up. Key issues were investigated, systems were improved, and a stability maintenance plan for the World Expo was drafted; information was collected, surveillance was strengthened, and stability maintenance anticipation was made; cooperation among various parties was enhanced, and joint efforts were made to maintain social stability during the World Expo; coordination was strengthened, and proper treatment was in place to handle the issues properly; the administration of state classified computers and mobile storage medium was enhanced, state secret divulging events were eradicated and the information security of SSE was guaranteed.

2. Continuous enhancement of market services, and consistent promotion of blue-chip stock market establishment

(1) Provision of improved market services on the basis of practicing and training plans With the support of the competent finance departments and securities regulatory departments of local governments as well as securities dealers, SSE deployed 36 practicing and training personnel in 3 batches to 34 institutions in 16 provinces and municipalities. These personnel provide frontline market services in IPO, merger, acquisition, restructuring and bond issuance. 120 personnel of SSE have participated in professional training; regular and irregular seminars for practicing and training personnel are organized in order to collect market information and facilitate timely communication; a special market development award has been created for the purpose of encouraging all SSE personnel to contribute their wisdom and strength to market development.

2011 Fact Book 6 2010 Market Review

(2) IPO resources are garnered through cooperation among various parties Securities traders are arranged to attend discussion forums on IPO, IPO system reform, restructuring and listing of key enterprises, and restructuring and listing of cultural enterprises. The SSE joined hands with securities regulatory bureaus and local governments in all regions to hold forums on regional capital markets, and actively extend the influence of the main board; it also paid more visits to enterprises, and ceaselessly includes enterprises into the list of key tracking enterprises. Priority has been given to the publicity and opinion guiding of IPO. The SSE cooperated with the CSRC to bring forward the reform in the IPO system. In 2010, 65 leaders of the SSE visited 180 enterprises in 28 provinces, municipalities and autonomous regions while personnel visited 490 enterprises. In 2010, 26 enterprises went public in the SSE, raising RMB 191.956 billion. In addition, the SSE is making arrangements for the IPO of 3 other enterprises.

(3) Promotion of merger, acquisition and restructuring, support the development of enterprises Surveys on the merger and acquisition intent of listed companies are conducted, seminars on merger, acquisition and block listing are held, information about regulatory policies are disseminated, and a platform for merger and acquisition information and experience exchange for listed companies has been set up; the SSE actively participates in the policy research on the theme of “work arrangements for promotion and improvement of merger and acquisition” launched by CSRC, and provides merger and acquisition information services to listed companies and perform information disclosure and verification of such companies from the technical perspective of the legal infrastructure. In 2010, the SSE received applications from a total of 61 companies throughout the year for large-scale asset restructuring, and 67 companies implemented mergers, acquisitions and restructuring. Of which, 43 companies completed large-scale asset restructuring and 24 companies changed their controlling shareholders or actual controlling parties.

(4) Strengthening public opinion guidance for the International Board, and making rules and preparation for business and technology Based on trading and listing rules, the SSE has been ceaselessly improving business rules for the International Board, formulating business process for the International Board, and drafting an emergency response plan; in consideration of differentiated supervision and administration, and special risks and difficulties in the International Board, the SSE has come up with general principles, a general plan and a special supervision and control plan for market supervision of the International Board and has made preparations in cooperation in cross-border supervision and administration. The objectives and missions for technical preparation of the International Board have been clearly defined. More efforts on surveys on the listing resources of the International Board have been made and conditions for the return of red chips have been actively discussed; the SSE takes the opportunity to attend all kinds of important events to elaborate the positive impact of establishment of the International Board, and the public opinion environment for the establishment of the International Board has been improved.

3. Various measures taken to greatly promote the development of the bond market

(1) The bond trading mechanism has been improved to steadily expand the volume of transactions on the bond market Difficulties have been overcome through the cooperation among various parties, the first of the three steps of the

2011 Fact Book 7 2010 Market Review

integration of the fixed-income platform has been completed, and dual listing of national bonds has been achieved. While giving full play to the features and advantages of the bond market on SSE, establishment of the one-on-one bond trading mechanism has been completed, substantially promoting the establishment of unsecured settlement mode, and giving full regard to the special bond operation mode. The bond market is gradually gaining popularity, and the trading volume is steadily going up, with the annual bond transactions standing at RMB7.08 trillion, up 50% year-on-year, and beyond the level of 2003 when the bond market began to decline.

(2) The corporate bond market has been greatly developed and the amount of corporate bonds has increased remarkably Issuance of corporate and enterprise bonds is tracked actively, more efforts have been made in terms of visits, investigation and marketing, and all-round consulting services are provided to bond market participants; the issued but unlisted bonds from non-performing companies have been circulated on the fixed-income platform of the SSE in accordance with the measures for the administration of corporate bond classification. In 2010, the increased amount of the newly-listed corporate and enterprise bonds under trust reached RMB 137.5 billion, the additional number of listed bonds reached 100, and the number of bonds which had been issued or the issuance procedures of which have been gone through and their listing shall be conducted at the SSE reached 14.

(3) Coordination is strengthened for the purpose of facilitating listed commercial banks to return to the SSE bond market The SSE will make proper preparation for the return of listed commercial banks to the Shanghai Stock Exchange, and draft a plan on the issues concerning the innovation and follow-up development of commercial banks in terms of mechanism, products, risk control and backstage settlement. On December 6, the reached 3 bond-related deals at the SSE, signifying the commencement of the entry of listed commercial banks into the bond market of the SSE.

(4) On the basis of the characteristics of bonds, innovative bond market has been studied, new types of bonds have been listed and innovative research of new products have been completed The SSE has taken market development into consideration, and conducted another study on the steps and breakthroughs in the development of the bond market of the SSE. Following the principle of “four independent items”, new products and regulations in line with the characteristics of bonds have been studied, and new research on innovative one-on-one buyback plan and forward transaction innovation have been completed; several research reports making policy proposals have been completed and submitted to competent market department; the Detailed Rules on Bond Market Transactions in line with the latest development trend of the market have been drafted. Taikang Bond, the first bond issued by an insurance company, and Guotai Junan Bond, the first corporate bond issued by has been or is about to be listed on the Shanghai Stock Exchange, marking the entry of financial bonds into the bond market of the Shanghai Stock Exchange.

(5) Active exploration of overseas companies' demand for domestic issuance of RMB bonds Research and discussion on the feasibility of domestic issuance of RMB bonds by overseas companies with high credit rating have been conducted, and cooperation and communication mechanism among the SSE and well-known overseas securities brokerage institutions has been set up initially; the SSE has, by all means, found out the willingness of well-known overseas enterprises to issue RMB bonds in China, compiling a list of potential bond-issuing enterprises, obtaining preliminary information about the relevant enterprises and directly contacting or liaison with key enterprises.

2011 Fact Book 8 2010 Market Review

4. Enhancement of all-round supervisory function and promotion of development based on supervision

(1) Giving full play to coordination function of the Market Supervision and Administration Committee, and refinement of self-disciplinary mechanism Regular meetings on supervision and administration are held, close attention is paid to changes in the market, supervision and administration measures are taken and establishment of the relevant systems is facilitated effectively on key and heated issues. Disciplinary actions will further play a supportive role in daily supervision and administration. The annual review and evaluation of business regulations have been completed, with screening of 15% of the relevant regulations. Several legal research brands such as the Securities Law Forum and SSE Forum on the Rule of Law have been created.

(2) Timely monitoring of new trends of law/regulation violations and active exploration of new methods for market supervision and administration Cross-market manipulations are cracked down in line with the launch of stock index futures, mergers, acquisitions and restructuring are tracked for the purpose of combating insider trading, attention is paid to margin trading and short sales so as to crack down upon transactions with excessive speculation. Full play is given to the advantages of the third generation of monitoring system and technical resources of data warehouse, the number of cases which were coordinated or investigated for the year rose remarkably, with the number of cases which were analyzed, coordinated and investigated and reports submitted reaching 473, extraordinary transactions reaching 802 (up 40% from 2009), telephone reminder to business offices reaching 1801 (up 120% from 2009). All these facts reflect the SSE’s capacity of frontline supervisory power.

(3) In combination with heated issues in daily supervision and administration for the promotion of regulated operation of listed companies The Guidelines for the Behaviors of Controlling Shareholders and Actual Controlling Parties and Working Guidelines for the Registration and Training of Independent Directors have been promulgated. Development is based on supervision and administration, and the governance structure of listed companies has been improved and the development of such companies has been regulated. The SSE cooperated with CSRC for the designated exercise of “solving counterpart competition and reducing affiliated transactions”, and studied the classification administration system based on market value of listed companies.

(4) Active provision of technical service and professional training sessions for the purpose of increasing the level of member client administration Special analysis on member client administration and transaction units held by insurance institutions has been conducted, the report has been prepared, solutions and proposals have been put forward. Member training has been launched to allow members to master the membership business process of the SSE and reduce business operation risks. In combination with new functions of the new trading system, the SSE has provided a special technical service platform to its member clients.

(5) Proper handling of listing suspension of corporate bonds and regulation of the development of bond and fund

2011 Fact Book 9 2010 Market Review

markets Issues concerning the listing suspension of corporate bonds issued by companies in deficit for two consecutive years have been handled properly. The format guidelines, the ETF Business Handbook, the Fund Supervision and Administration Framework for Stock Exchanges and the Guidelines for Fund Supervision and Administration have been compiled, post examination and approval of regular reports on corporate bonds shall be enhanced, and issuers and fund companies shall timely perform their obligation of information disclosure. Safe operation conferences are held, fund operation and risk control are discussed, and prevention and early warning of fund operation risks are conducted.

5. Key focus on development of trading funds of the Exchange for stable development of innovative products

(1) More efforts on development, acceleration of development pace, and achievement of rapid development of Exchange Traded Funds (ETF) In 2010, 8 ETFs such as the ultra-large ETF were listed on the Shanghai Stock Exchange, 4 were approved by the CSRC, and 10-odds were waiting for approval. Products are extended to the types of leverage, reverse, initiative, sampling and optimization and reproduction. In combination with cross-market and cross-border launch of ETF products, the SSE promptly amended business regulations, developed technical systems and strengthened promotion and investor education. It also held an “ETF Product Development and Risk Control” seminar together with Hong Kong Stock Exchange, highlighting product risks and putting forward safeguarding and counter measures.

(2) Compilation and announcement of SSE 380 Indexes and stepping up of publicity of Blue-Chip Indexes The market characterization indexes were listed in detail and 21 new indexes were compiled. The SSE also compiled and announced the new blue-chip 380 indexes, recommended key index systems such as the SSE 50 index, SSE 180 index and SSE 380 index through various channels, closely served the market development and index product development of the Shanghai Stock Exchange, and widely publicized the multi-level blue-chip stock market characterized by the domination of large-cap and blue-chip stocks and co-development of small and medium-sized enterprises. It has further signed index-related agreements with 9 international index companies such as the Standard & Poor’s and the FTSE Group as well as 5 overseas stock exchanges such as the NYSE Euronext and the Tokyo Stock Exchange.

(3) Margin trading and short sale pilot scheme is promoted in full swing, paving the way for the formal launch of margin trading and shorting sale business Aiming at risk prevention, the SSE gives guidance, actively sums up experience and thoroughly makes technical preparations for margin trading and short sale business for 3 batches of pilot members. A special protection system on the first trading day is implemented, and a voting opinion collection system for margin trading and shorting sale clients and a voting system for members have been specially developed for the purpose of ensuring steady and stable development of the pilot system in terms of transaction settlement, data submission and special supervision and control. At present, the number of members engaged in margin trading and short sale has reached 25, with the number of credit accounts opened by investors standing at 20000, the annual volume of margin trading and short sale reaching RMB 58.95 billion, and the balance of margin trading and short sale reaching RMB 8.43 billion.

2011 Fact Book 10 2010 Market Review

(4) Active coordination of launch of stock index futures, and close facilitation of market innovation research The SSE has summarized the business process for the compilation, calculation, announcement and trading of the Hushen 300 Index in a holistic manner, and ensured the scheduled trading of stock index futures. It also coordinated the emergency drills of the Shanghai Stock Exchange, the Stock Exchange, the China Financial Futures Exchange and China Securities Index Co., Ltd in relation to Hushen 300 Index and stock index futures, closely tracked the interaction between stock index futures and the spot market, and actively studied the opportunities and challenges which are brought by new product development.

(5) Enhanced function of SSE Fund Expert System and actively carrying out various business innovations The SSE Fund Expert System Upgrading Project has been initiated for the purpose of promoting the pilot work in relation to open-end fund trading on the SSE. The scale of quotation buy-back business has been expanded steadily, a pilot plan on buyout repurchase of stocks and a securities lending platform were under study and formulation; a plan on stock auction by courts is implemented gradually and a plan on the development of block trade market has been studied systematically.

(6) Exploration and study of product innovation, and promotion of transformation of the value of research achievements The SSE focused on the promotion of the Gold ETF Plan and 130/30ETF Plan. On the basis of the SSE Composite Index ETF, optimized reproduction and sampling reproduction ETF research and development are promoted. Some asset securitization products such as the Far East Phase II Special Asset Management Plan have been submitted, and the REITs Business Regulations have been drafted.

6. Keep up with business development and create a brand for investor education

(1) Continuous strengthening of establishment of “the Six Firsts” and creation of education branding effect The investor education website has been upgraded and optimized, with the number of monthly hits exceeding 10 million; production of a special investor education film called Blue Dream is underway, and effective combination of education, popularity and professionalism into the film. Activities on the theme of “Mock Securities Trading Day” have been launched in partner universities. The second volume of an investor education book series has been published, and a research report on the status quo of investors in 2010 has been completed.

(2) Focus on product promotion and risk warning on key business innovation Establishment of a qualified investor certification system has been explored, an online testing platform has been developed, and investor education work in relation to margin trading and short sale pilot scheme has been promoted by giving full deployment of members and various types of media resources such as television and websites. Product promotion, common knowledge and risk warning have been conducted in a holistic manner targeting the launch of new ETF products, warrant expiration and insider trading prevention and control.

(3) More efforts on investor education, and enhance the readiness of frontline education services Investor education expert selection activities and seminars have been held among members to promote experience

2011 Fact Book 11 2010 Market Review

exchange and communication within the industry. The administration of investor education has been enhanced, and the member information submission procedure has been regulated. Self-examination, visits and investigation in relation to member investor education have started.

(4) Enhancement of basic training, and improving professionalism of training and market services The examination papers for legal training of directors’ secretaries have been updated, and standardization level of the examination papers has been increased. Market development has been integrated with investor education, and investor relation management by listed companies has been further improved in consideration of senior management training and visits.

7. Safeguarding orderly development of all businesses, and evaluation of basic infrastructure

(1) Timely compilation of a new strategic plan depicting the future development of the SSE The implementation of the strategic plan of the SSE in 2010 has been assessed and summarized. A new strategic plan for the next decade has been compiled and published and the strategic plan on technical development for the next decade has been amended from the perspectives of highlighting key strategies and compliance with the implementation of state important strategies.

(2) The SSE has succeeded in serving as a member of the WFE’S board of directors in consecutive terms, and will steadily move towards the international front The SSE has been elected a member of the WFE’s board of directors for the third time, offered a satisfactory solution to the problems in relation to the naming of Taiwanese institutions in the WFE, translated and published the Chinese edition of 50th Anniversary Commemorative Issue of the WFE, and fully embodied the importance of the SSE as a representative of global emerging markets. The cooperation between Shanghai and Hong Kong stock exchanges has been promoted, and preparations for the signing of agreements on closer cooperation between SSE and London and Brazil-based stock exchanges have been made.

(3) Innovation research is launched along core business of Shanghai Stock Exchange The SSE has focused on key issues concerning market supervision and administration, restructuring and listing of key industries, reform in bond market structure, corporate governance, innovative products and trading mechanism for the purpose of facilitating the implementation of its development strategy and the launch of its key business, and contributing to the formation of the international financial center in Shanghai, and has written more than 80 reports with innovative concepts and market value including the Comparative Study on Shanghai and Hong Kong-based Financial Centers, the Proposals on the Restructuring and Listing of Key Industries Including Railway, Military, Culture and Media, effectively facilitating the business development of the SSE and the decision-making process by relevant government bodies. The existing research brand is created and maintained, and the leading role in the industry has been consolidated.

(4) Foundation projects such as new building are now underway and construction projects have been further accelerated

2011 Fact Book 12 2010 Market Review

The new building project has been listed as a district-level and municipality-level key engineering project in the Pudong New Area, and key tasks such as index adjustment, bids invitation for design, and retitling of project, and compilation of construction outline is now underway. The application for the construction of the “Securities Information Technology Research and Development Center (Shanghai)” has been approved, and the construction of the technical service base is coordinated actively. The data warehouse equipment upgrading and expansion project has also been initiated.

(5) Completion of BPM project of SSE, and strengthening of the ERP system infrastructure The project development, simulation test and process standardization of the BPM system have been completed, and BPM joint business digitalization has been realized. On the basis of smooth construction of ERP project Phase I, Phase II of the project has been initiated, which will further protect the efficient and standardized operation of internal management.

2011 Fact Book 13 2010 Market Review

Introduction to margin trading and short selling business

Margin trading and short selling transactions, also known as securities credit transactions, means any activity in which an investor, by providing security to a securities company qualified for margin trading and short selling business, borrows funds to buy publicly traded securities or borrows publicly traded securities for the purpose of selling them. Margin trading and short selling business refers to any business activity in which a securities company lends funds to a customer to buy publicly traded securities or lends publicly traded securities to a customer to enable the customer to sell them, taking security for them in return.

SSE started accepting applications from the first group of 6 pilot members for margin trading and short selling transactions on March 31, 2010, the second group of 5 pilot members on July 5, 2010, and the third group of 14 pilot members on December 13, 2010.

Since the launch of pilot margin trading and short selling transactions in 2010, the value and balance of margin trading and short selling transactions have increased steadily. As of December 31, 2010, there were 25 pilot members, accounting for a quarter of the total number of Chinese securities companies. These 25 pilot securities companies provide margin trading and short selling services to investors from a total of 1222 business outlets, representing 26% of the total number of securities business outlets in China. As of December 31, a total of 21015 credit and securities accounts on SSE are opened for clients by 25 pilot securities companies. As of December 31, 2010, the total value of margin trading and short selling transactions conducted on SSE had reached RMB 58.946 billion, representing 60% of the total value of margin trading and short selling transactions on SSE and Shenzhen Stock Exchange (SZSE) combined, among which the total value of margin trading transactions was RMB 57.688 billion, or 97.9% of the combined total, and the total value of short selling had reached RMB 1.258 billion, or 2.1% of the combined total. The balance of margin trading and short selling was RMB 8,434 billion, of which the margin trading balance was 8.43 billion yuan and the short selling balance was RMB 4 million.

6FKHGXOH¿UVWJURXSRIPHPEHUV No. Name of member 1 Guotai Junan Securities Co., Ltd. 2 Guosen Securities Co. Ltd. 3 CITIC Securities Co., Ltd. 4 Co., Ltd. 5 Co., Ltd. 6 Guangfa Securities Co., Ltd.

Schedule 2: second group of members No. Name of member 1 Shenyin & Wanguo Securities Co., Ltd.

2011 Fact Book 14 2010 Market Review

2 Co., Ltd. 3 China Merchants Securities Co., Ltd. 4 Co., Ltd. 5 Co., Ltd.

Schedule 3: third group of members No. Name of member 1 Changjiang Securities Co., Ltd. 2 Essence Securities Co., Ltd. 3 Ping An Securities Co., Ltd. 4 Guodu Securities Co., Ltd. 5 Guoyuan Securities Co., Ltd. 6 China Securities Co., Ltd. 7 China Jianyin Investment Securities Co., Ltd. 8 Industrial Securities Co., Ltd. 9 Founder Securities Co., Ltd. 10 Great Wall Securities Co., Ltd. 11 Hongyuan Securities Co., Ltd. 12 Qilu Securities Co., Ltd. 13 Southwest Securities Co., Ltd. 14 China International Capital Corporation Limited

2011 Fact Book 15 2010 Market Review

Major SSE Events in 2010

Month Date Event January 8 China Securities Regulatory Commission (CSRC) announced that the State Council had in principle approved the commencement of pilot margin trading and short selling business by securities companies and the launch of stock index futures products by such companies January 18 CSI Cross-Straits 500 Index launched January 12 CSRC approved the commencement of futures trading on the China Financial Futures Exchange (CFFE) January 22 CSRC issued the Guiding Opinions on Pilot Margin Trading and Short Selling Business among Securities Companies, specifying the conditions applicable to the first group of securities companies to apply to join the pilot scheme February 2 China Eastern Airlines acquired and publicly traded newly issued shares of Shanghai Airlines, successfully accomplishing the first business innovation of dissenting shareholders submitting dissenting share acquisition applications through the SSE trading system February 12 The SSE and the SZSE issued a circular specifying the list of target securities at the initial stage of the pilot margin trading and short selling program, the scope of securities that could serve as security (collateral), conversion rates, and other relevant matters February The SSE’s first group of staff on a practical exercise mission assumed office to facilitate interview work with respect to services such as company reorganizations for the purpose of going public March 16 Awards ceremony for outstanding educators in investor education activities, “I serve, I know first” and an investor education workshop held March 18 The SSE’s XBRL classification standards for listed companies and funds approved by XBRL International March 19 The SSE successfully accomplished the first pilot listing of companies resulting from the division of a listed company and the stocks of Longjiang Transport and Jilin Expressway were successfully listed and traded on the SSE March 31 Pilot margin trading and short selling program commenced April 1 Running in period for the new generation trading system completed the system became part of normal operations April 23 CSRC issued Guidance for Securities Companies Engaged in Stock Index Futures Trading and Guidance for Securities Investment Funds Engaged in Stock Index Futures Trading May 7 Institutional investors represented by brokers and funds officially allowed to participate in stock index futures trading by formally opening an account May 31 The first corporate bond issue subject to classification standards – the 2009 corporate bond issued by Guangdong Yihua Timber Industry Co., Ltd – listed and traded on the comprehensive electronic platform for fixed-income securities June 10 The first Corporate bond of a company with two consecutive years of losses suspended from public trading July 7 Pilot program for quoted repo trading extended and number of days for which interest accrues adjusted

2011 Fact Book 16 2010 Market Review

July 15 Agricultural listed, securing a total of 68,529 billion yuan and making it the fourth state-owned commercial banks listed on the SSE August 20 CSRC issued Guiding Opinions on Further Reforming the New Share Issuance System August 24 The SSE’s third-generation monitoring system passed the final acceptance test September 17 Comprehensive business platform formally launched, enabling quoted repo business functionality to be provided to the market October 11 The SSE attended the 50th conference and annual meeting of the World Federation of Exchanges (WFE) and was elected as a member of the Board of Directors for the third time October 20 Central bank raised the benchmark deposit and lending interest rates by 25 basis points October 27 CSRC, People’s Bank of China (PBC) and China Banking Regulatory Commission (CBRC) jointly issued Circular on Issues Relating to the Participation of Listed Commercial Banks in Pilot Bond Trading on Securities Exchanges, marking the return of commercial banks to securities exchanges after an interval of 13 years October 29 A delegation led by Georgian Prime Minister Nika Gilauri visited the SSE November 1 Information service platform for companies listed on the SSE launched November 1 A delegation led by Hungarian Prime Minister Viktor Orban visited the SSE November 3 Subordinated term debt of Taikang Life Insurance Co., Ltd traded after being listed on the SSE fixed-income platform, making it the first debt issued by an insurance company to be quoted on a stock exchange November 5 T-bond bilateral quotations implemented smoothly and T-bonds quoted and traded on the fixed-income platform successfully imported into the auction and auto-matching trading system November 19 General Office of the State Council issued a circular specifying overall arrangements for lawfully cracking down on and preventing insider trading November 22 State Council issued a circular announcing 16 measures for price stability November 22 Overall switchover finished in the upgrading project (first phase) for new business management system core hardware; system formally put into operation November 29 SSE 380 Index launched and the multi-level systems for SSE blue chip market indices established December 6 Bank of Communications executed 3 bond transactions through the SSE's centralized anonymous trading system, marking the successful return of commercial banks to the SSE debt market after a 13 year absence from securities exchanges December 9 SSE issued and implemented the Strategic Plan of the Shanghai Stock Exchange (2011- 2020) December SSE’s Blue Dream, a series of investor education visual promotions, formally released December 12 Central Economic Work Conference clarified that proactive fiscal policies and prudent monetary policies were to be implemented in 2011 December 18 The SSE organized the 9th corporate governance forum and other activities to commemorate the 20th anniversary of the SSE’s establishment December 26 Central bank raised benchmark interest rates by 25 basis points and raised lending (re- lending) interest rates and re-discount interest rates of financial institutions

2011 Fact Book 17 2010 Market Review

Market Highlights

2010 2009 2008 Listed Securities (as at year end) No. of listed companies 894 870 864 No. of listed securities 1500 1351 1184 No. of listed stocks 938 914 908 No. of new listings 26 9 6 Share capital issued (100 million shares) 21939.51 16659.97 15410.39 Tradable shares (100 million shares) 16031.30 11578.56 4916.04 Total market capitalization (RMB100 million) 179007.24 184655.21 97251.91 Market capitalization of tradable shares (RMB100 million) 142337.44 114804.99 32305.91 Total capital raised (RMB100 million) A Shares (RMB) 5532.14 3343.15 2238.16 B Shares (US dollar) 0 0 0

Transactions

Number of trading days 242 244 246 Annual turnover value (RMB100 million) 398395.73 441874.67 271842.03 Stock 304312.01 346511.91 180429.95 Fund 4771.71 6549.06 3700.23 T-bonds 74914.43 39806.34 28090.63 Warrants 14397.58 49007.37 59621.21 Others 0 0 0 Average daily turnover value (RMB100 million) 1646.26 1810.96 1105.05 Average daily stock turnover value (RMB100 million) 1257.49 1420.13 733.46 Annual stock turnover volume (100 million shares) 25964.43 33679.64 16311.6 Average daily stock turnover volume (100 million shares) 107.29 138.03 66.31 Total number of stock trades (10,000 deals) 166149.08 214261.01 127884.22 Average number of daily stock trades (10,000 deals) 686.57 878.12 519.86

Stock Indices

SSE 180 Index yearly high 7835.96 8456.56 12884.16 SSE 180 Index yearly low 5377.66 4098.26 3600.6

2011 Fact Book 18 2010 Market Review

SSE 180 Index year-end close 6517.60 7762.92 4047.99 SSE Composite Index yearly high 3306.75 3478.01 5522.77 SSE Composite Index yearly low 2319.74 1844.09 1664.92 SSE Composite Index year-end close 2808.08 3277.14 1820.8

Ratios

Average P/E ratio 21.61 28.73 14.85 Turnover rate 1 135.40 212.10 109.43 (market capitalization)(%) 198.47 504.37 392.52

2011 Fact Book 19

Shanghai Securities Market

2011 Fact Book 21 Shanghai Securities Market

2011 Fact Book 22 Stock Market

Stock Market

Trading System

Trading business can be divided into two categories according to the business handling medium: trading system- based business and non-trading system-based business; of these types of business, trading system-based business can be further divided into two business types according to the business model employed: centralized trading business and trading-related services; non-trading system-based business includes negotiated transfers, warrant creation and cancellation, etc. Centralized trading refers to stock exchange facilitated business in which securities ownership changes are realized through a trading system by means of price inquiry, quotations, auction; trading-related services refers to offering, entitlement, trading relations and other related forms of business provided by stock exchanges through a trading system that are closely related to centralized securities trading business. Compared with similar services offered through over- the-counter market, the above trading system-based business has the following major differences: (1) services are provided through the trading system; (2) special securities codes are assigned; and (3) trading is conducted through a broker.

Trading Relations

SSE is open for trading from Monday to Friday. The morning market session starts with an call auction from 9:15 to 9:25, which is followed by a continuous auction from 9:30 to 11:30. In the afternoon market session, continuous auction runs from 13:00 to 15:00. Intent orders for block trades are accepted between 9:30 and 11:30 and again between 13:00 and 15:30, while execution orders for block trades are accepted from 15:00 to 15:30. Special block trade business, which is undertaken on an ad hoc basis, is accepted between 15:00 and 17:00, and participants, who are SSE qualified investors, may carry out spot trading in SSE trading room by way of auction, price inquiry, quotation, or another trading method, with delivery being non-guaranteed. The market is closed on Saturdays, Sundays and other public holidays announced by SSE. Securities are traded on SSE on a market-driven and free auction basis. Limit orders and market orders are accepted in line with market conditions.. At present, trading in A shares, B shares and securities investment funds is subject to a maximum daily price fluctuation limit of plus or minus 10%, except for the first trading day . Stocks subject to a special treatment are subject to a maximum daily price fluctuation limit of plus or minus 5%. Price limits for warrant transactions are determined on the basis of the price limit for the underlying securities by multiplying the warrant conversion ratio by a

2011 Fact Book 23 Stock Market

coefficient. The price of a block trade of securities with a price limit is determined by the buyer and seller within the price limit applicable to such securities on the day of trading. The price of a block trade of securities without any price limit is negotiated by the buyer and seller within 30% of the previous closing price or between the highest and lowest traded prices on the day of trading. In the absence of any transaction for a particular stock, the closing price of the previous trading day will be the execution price.

Securities trading on SSE is conducted through designated brokers. All the investors that trade securities on SSE must first designate a member of SSE as an agent and conclude a Designated Transactions Agreement with the agent for trading and clearing securities on their behalf. No trading is allowed before the investor’s trading account is registered with the member’s trading seat.

SSE has adopted a primary dealer system in warrant trading. Primary dealers are the securities firms that are designated by SSE for providing bilateral quotations for warrant trading. In addition, institutional market participants recognized by SSE may provide daily bilateral quotations for bonds traded on SSE’s block trading system, with the specific bonds and the spreads to be determined at their discretion to the extent permitted by SSE rules.

SSE makes timely releases of trading data and information to members and investors. Daily real-time market quotations, stock indices, clearing data, market reports and daily transaction data are transmitted to member’s counter terminals via satellite communications system or optical fiber communications system. The transaction data is instantaneously transmitted to each member via a two-way satellite system and optical fiber communications system. Since September 22, 2003, SSE has started disclosing five best quotations. Block trade data is published in SSE-designated media and released simultaneously on the “quotations and transactions—disclosure of transaction information—block trade information” section of SSE’s website (www.sse.com.cn). Apart from that, SSE also discloses more detailed information about the daily top gainers and losers on the securities market according to the trading rules.

Table 1: Breakdown of Centralized Trading Business

No. Description of Centralized Trading Business Securities Code Type of Business 1 A-share continuous trading 600, 601 at limit price 2 A-share continuous trading 600, 601 at market price 3 A-share call auction trading 600, 601 4 B-share continuous trading 900 Auction at limit price 5 B-share continuous trading 900 at market price 6 B-share call auction trading 900 7 Closed-end fund continuous 500 trading at limit price

2011 Fact Book 24 Stock Market

8 Closed-end fund continuous 500 trading at market price 9 Closed-end fund call auction trading 500 10 ETF continuous trading at limit price 510XX0 11 ETF continuous trading 510XX0 at market price 12 ETF call auction trading 510XX0 13 T-bond continuous trading 009, 010 at clean price 14 T-bond call auction trading 009, 010 at clean price 15 Enterprise bond continuous trading 129 at limit price 16 Enterprise bond call auction trading 129 17 Convertible bond continuous 110 trading at limit price 18 Convertible bond call auction trading 110 19 Convertible bond with detachable warrant continuous 126 trading at limit price 20 Convertible bond with detachable warrant call auction 126 trading 21 Old pledge-style repo 201 continuous trading 22 Old pledge-style repo 201 call auction trading 23 New pledge-style repo continuous trading at limit 204 price 24 New pledge-style repo 204 call auction trading 25 Outright repo continuous 203 trading at limit price 26 Outright repo call auction trading 203 27 Warrant continuous 580 trading at limit price 28 Warrant continuous trading 580 at market price 29 Warrant call auction trading 580 30 A-share block trading Same as A Shares 31 B-share block trading Same as B Shares Price inquiry 32 Closed-end fund block trading Same as closed-end funds 33 ETF block trading Same as ETFs

2011 Fact Book 25 Stock Market

34 Bond block trading Same as bonds 35 Bond repo block trading Same as bond repo 36 Asset securitization 121 37 Warrant bilateral quotation Same as warrants 38 ETF purchase/redemption 510XX1, 510XX2 39 Tender offer 706 40 T-bond distribution 751 41 T-bond firm quotation 019 (Electronic Platform) 42 T-bond non-firm quotation

43 T-bond client enters into a transaction with primary Quotation dealer 44 T-bond price inquiry 45 Corporate bond firm quotation 122 (Electronic Platform) 46 Corporate bond non-firm quotation 47 Corporate bond client enters into a transaction with primary dealer 48 Corporate bond price inquiry

Table 2: Breakdown of Trading-related Services

Type of Securities No. Description of Trading-related Securities Code Type of Business Services Equities 1 Online fixed price offering 7301 (corresponding to A-share Offering 600), 7802 (corresponding to A-share 601) 2 Online price inquiry offering 730 (corresponding to A-share 600), Offering 780 (corresponding to A-share 601) 3 Online fixed-price follow-on 730 (corresponding to A-share 600), Offering offering 731 (corresponding to A-share 600), 780 (corresponding to A-share 601), 781 (corresponding to A-share 601) 4 Online price inquiry follow-on 730 (corresponding to A-share 600), Offering offering 731 (corresponding to A-share 600), 780 (corresponding to A-share 601), 781 (corresponding to A-share 601) 5 Placement proportional to the 737 Offering existing secondary market holdings

2011 Fact Book 26 Stock Market

6 Rights issue 700 (corresponding to ordinary Offering, A-share 600), entitlement 702 (corresponding to employee A-share 600), 760 (corresponding to ordinary A-share 601), 762 (corresponding to employee A-share 601) 7 Online voting 738 (corresponding to A-share 600), Entitlement 788 (corresponding to A-share 601), 938 (corresponding to B Shares) 8 Password service 799988 (corresponding to A Shares), Entitlement 939988 (corresponding to B Shares) 9 Offline initial price inquiry Same as the stock code Offering 10 Offline book-building Bonds 11 Convertible bond offering 7333 (corresponding to A-share Offering 600), 7834 (corresponding to A-share 601) 12 Convertible bond placement 704 (corresponding to A-share 600), Entitlement 764 (corresponding to A-share 601) 13 Conversion of convertible 181 (corresponding to A-share 600), Offering, bonds 190 (corresponding to A-share 600), entitlement into shares 191 (corresponding to A-share 601), 192 (corresponding to exchangeable corporate bond 128) 14 Sell-back of convertible bonds 1009 Entitlement 15 Transfer of collateral bonds to 090 (corresponding to T-bond 010), Trading collateral vault 099 (corresponding to T-bond 009), relationship 104 (corresponding to corporate bond 122), 105000 – 105899 (corresponding to corporate bond with detachable warrant 126), 105900 – 105999 (corresponding to enterprise bond 120, 129), 106 (corresponding to local government bond130), 107(corresponding to discount T-bond 020 Warrants 16 Exercise of warrants 582 Entitlement Funds 17 Subscription for closed-end 7355 Offering funds

2011 Fact Book 27 Stock Market

18 Expansion of closed-end funds 705 Offering 19 Subscription for open-end 521 Offering funds 20 Purchase and redemption of 519 Offering, open-end funds entitlement 21 Designation transfer of open- 522 Trading end funds relationship 22 Dividend distribution by open- 523 Entitlement end funds 23 Conversion of open-end funds 524 Entitlement (business has not yet started) 24 ETF offering 510XX3 Offering Trading 25 Designated registration/ 799998/799999 Trading registration cancellation of designated relationship trading 26 Repurchase registration/ 799997/799996 Trading repurchase cancellation relationship

(Footnotes) 1. For any stock corresponding to the code 730 in the table, 740 and 741 are the codes assigned for the subscription funds or further issue funds of the stock and the number allotted, respectively. 2. For any stock corresponding to the code 780 in the table, 790 and 791 are the codes assigned for the subscription funds or further issue funds of the stock and the number allotted, respectively. 3. For any convertible bond corresponding to the code 733 in the table, 743 and 744 are the codes assigned for the bond issuance funds of the convertible bond and the number allotted, respectively. 4. For any convertible bond corresponding to the code 783 in the table, 793 and 794 are the codes assigned for the bond issuance funds of the convertible bond and the number allotted, respectively. 5. For any mutual fund corresponding to the code 735 in the table, 745 and 746 are the codes assigned for the purchase funds of the mutual fund and the number allotted, respectively.

2011 Fact Book 28 Stock Market

Table of Fees Charged and Taxes Withheld by SSE

Category Fees Fee Standard Payer and Receiver Transactions A share Handling fee 0.011% of trading value (both Paid by SSE member, etc. to the sides) SSE Securities 0.004% of trading value Paid by SSE members, etc. to management fee (bilateral) the CSRC (collected by the SSE) Stamp duty 0.1% of trading value Paid by investors to tax (unilateral) authorizes (collected by the SSE) B share Handling fees 0.026% of trading value Paid by SSE members, etc. to (bilateral) the SSE Securities 0.004% of trading value Paid by SSE members, etc. to management fee (bilateral) the CSRC (collected by the SSE) Securities investment Handling fee 0.0045% of trading value Paid by SSE members, etc. to fund(closed-end fund and (bilateral) the SSE ETF) Securities 0.004% of trading value Paid by SSE members, etc. to management fee (bilateral) the CSRC (collected by the SSE) Warrants Handling fee 0.0045% of trading value Paid by SSE members, etc. to (bilateral) the SSE Securities 0.004% of trading value Paid by SSE members, etc. to management fee (bilateral) the CSRC (collected by the SSE) Cash bonds( T-bond, Handling fee 0.0001% of turnover Paid by SSE members, etc. to enterprise bond, corporate (bilateral) (cash bond the SSE bond, convertible corporate transaction on the fixed bond, detachable income platform and less convertible corporate bond, than 100 yuan/ per deal at etc. minimum) Securities 0.001% of trading value Paid by SSE members, etc. to management fee (bilateral) the CSRC (collected by the SSE) Pledge- One day Handling fee 0.00005% of trading value Temporary Paid by SSE style repo (bilateral) exemption members, etc. to the SSE two days Handling fee 0.00010% of trading value Paid by SSE (bilateral) members, etc. to the SSE Three days Handling fee 0.00015% of trading Paid by SSE (bilateral) members, etc. to the SSE Four days Handling fee 0.00020% of trading value Paid by SSE (bilateral) members, etc. to the SSE

2011 Fact Book 29 Stock Market

Seven days Handling fee 0.00025% of trading value Paid by SSE (bilateral) members, etc. to the SSE Fourteen Handling fee 0.00050% of trading value Paid by SSE days (bilateral) members, etc. to the SSE Twenty eight Handling fee 0.00100% of trading value Paid by SSE days (bilateral) members, etc. to the SSE More than Handling fee 0.00150% of trading value Paid by SSE twenty eight (bilateral) members, etc. to days the SSE T-bond Seven days Handling fee 0.000625% of trading value Paid by SSE outright (bilateral) members, etc. to repurchase the SSE Twenty eight Handling fee 0.0025% of trading value Paid by SSE days (bilateral) members, etc. to the SSE Ninety one Handling fee 0.00375% of trading value Paid by SSE days (bilateral) members, etc. to the SSE Block A share ,B Handling fee 30% lower than the fee rate Paid by SSE members, etc. to trading share and of same product in auction the SSE securities market investment Securities The same as that in the Paid by SSE members, etc. to fund management fee auction transaction for the the CSRC (collected by the SSE) same product Cash bonds( Handling fee 90% of 0.01% of trading Paid by SSE members, etc. to T-bonds, value and less than 100yuan/ the SSE enterprise per deal at minimum(bilateral) bonds, Securities The same as in auction trading Paid by SSE members, etc. to corporate management fee for the same product the CSRC (collected by the SSE) bonds, convertible corporate bonds, detachable convertible corporate bonds, etc

2011 Fact Book 30 Stock Market

Pledge- Handling fee Temporary exemption Paid by SSE members, etc. to style repo the SSE and T-bond outright repo ETF subscription and redemption Handling fee Temporary exemption Paid by SSE members, etc. to the SSE Transfer of specific asset management Handling fee 0.0009% of amount Paid by SSE members, etc. to scheme transferred the SSE Issuance New share Handling fee 0.012% of trading value Paid by SSE members, etc. to subscription (unilateral) and subject to the SSE temporary exemption Convertible Handling fee 0.01% of trading value Paid by SSE members, etc. to corporate bond (unilateral) and subject to the SSE subscription temporary exemption Investment fund Handling fee 0.0085% of trading value Paid by SSE members, etc. to subscription the SSE Right issue, Handling fee 0.012% of trading value Paid by SSE members, etc. to trans-right issue, (bilateral) and subject to the SSE employee shares temporary exemption allotment, state shares allotment, share allotment for convertible bond Investment fund Handling fee 0.0085% of trading value Paid by SSE members, etc. to placement (bilateral) the SSE Listing A share Initial listing fee 0.03% of total issued shares, Paid by listed companies to the not more than RMB 30,000 SSE annual listing fee 0.012% of total listed face Paid by listed companies to the value, not more than RMB SSE 6000 B share Initial listing fee 0.1% of total listed shares, Paid by listed companies to the not more than equivalent of SSE US$5,000 annual listing fee US$600 per year Paid by listed companies to the SSE Securities Initial listing fee 0.01% of the total fund Paid by fund managers to the investment fund value, with a minimum charge SSE RMB10,000 and a maximum of RMB 30,000 annual listing fee RMB 60,000per year Paid by fund managers to the SSE

2011 Fact Book 31 Stock Market

warrant Initial listing fee RMB 200,000y Paid by issuers to the SSE Enterprise bond Initial listing fee 0.01% of the total listing Paid by issuers to the SSE amount, with a minimum charge of RMB 8000, and a maximum charge of RMB 40,000( subject to temporary exemption) annual listing fee 0.0096% of total listing Paid by issuers to the SSE amount, with a minimum charge of RMB 4800, and a maximum charge of RMB 24,000 ( subject to temporary exemption) Convertible Initial listing fee 0.01% of total listed face Paid by issuers to the SSE corporate bond value, with a minimum charge of RMB 10,000 and a maximum charge of RMB 30,000 ( subject to temporary exemption) annual listing fee RMB 6000 per year (subject Paid by issuers to the SSE to temporary exemption) Seat non-B-share seat Initial fee RMB 600,000 per seat Paid by issuers to the SSE B share seat Initial fee US$ 75,000 per seat Paid by issuers to the SSE Participant business unit (PBU) PBU use fee Institutions including SSE Paid by SSE members to the members can use one PBU SSE for free for each seat they hold. For additional PBU, user fee of RMB50, 000 per year for each PBU is charged by the SSE. (From Dec. 1, 2010, PBU for bond spot and repo trading is subject to temporarily exemption of usage fee.)

2011 Fact Book 32 Stock Market

Flow rate fee If the total flow rate of institution who connects to the SSE trading system exceeds its free flow rate limit, for the excess flow rate, the fee is RMB10, 000 for each standard flow rate per year. (charged from Dec. 1, 2010, flow rate fee for PBUs of bond spot and repo trading is subject temporarily exemption) Flow rate fee 1. charge periods is from Dec. 1 of the previous year to Nov. 30 of the current year 2. flow rate fee= (total number of yearly trading orders of institution’s PBUs - 30,000 deals/year × number of seats held) × RMB0.10 + (total number of yearly non- trading orders of institution’s PBUs - 30,000 deals/year × number of seats held) × RMB0.01 3. For details, please refer to the Circular on Relevant Issues of Adjusting Annual Fee Charge Mode for SSE Seats and Circular on Collecting Annual Fee of Trading Units for 2010 4. From Dec. 1, 2010, all trading participants are temporarily exempted from flow rate fee for bond spot and repo trading. Other services Fees, standards and charging methods are pursuant to the provisions on relevant services.

2011 Fact Book 33 Stock Market

Notes: 1. This table only covers fees and taxes withheld by the Shanghai Stock Exchange (SSE) and excludes brokers’ commissions and fees paid to securities firms and fees charged by the Depository & Clearing Company.. 2. For information on communications and information service fees, please contact the Shanghai Stock Communications Co., Ltd.( website: http://www.stocom.net and Tel.: +86-21-68664588) and SSE InfoNet . Ltd. Tel.:+86-21-68800098 3. For reduction and exemption of trading fees related to ETF, please refer to the Circular on the Reduction and Exemption of Trading Fees Related to Exchange Traded Fund (ETF) (Shang Zheng Chan Zi [2009] No.1); 4. For reduction and exemption of fees related to bond services, please refer to the Circular on Adjusting Charge Rates for Fixed-income Products (Shang Zheng Cai Zi [2010] No.6); 5. For changes in flow rate fee for PBU, see the Circular on Collecting Participation Business Unit Annual Fees for 2010 (Shang Zheng Cai Zi [2010] No.7);

2011 Fact Book 34 Stock Market

2010 Monthly Trading Volume, Trading Value and P/E Ratio

Trading Value Month Trading Volume (10,000 shares) P/E Ratio (Times) (RMB 10,000) 01 23579284.77 291052895.84 26.21 02 12270452.51 143073470.39 26.88 03 21509962.44 252943274.16 27.51 04 23003182.91 287881007.68 25.37 05 16715351.21 186579824.60 19.90 06 12269379.11 129697127.31 18.46 07 19110952.86 175261236.09 19.85 08 24127523.61 247735580.66 19.85 09 20519206.33 235332835.84 20.01 10 29737137.73 368912823.25 22.61 11 35539461.29 459221196.35 21.52 12 21262407.95 265428820.64 21.61

2011 Fact Book 35 Stock Market

Top 20 Most Traded Stocks by Turnover Volume

Percentage Trading Volume Rank Code Short Name in Total Market (10,000 shares) Trading Volume (%)

1 601288 Agricultural Bank of China 4885701.69 1.88

2 600016 Minsheng Bank 2987606.95 1.15

3 601668 China Construction 2976531.85 1.15

4 600050 2923618.36 1.13

5 601398 ICBC 2758549.35 1.06

6 601899 Zijin Mining 2675696.81 1.03

7 600030 CITIC Securities 2302891.21 0.89

8 600383 Goldfield Industries 2068720.65 0.80

9 600036 2038096.46 0.78

10 600837 Haitong Securities 1984913.68 0.76

11 601818 Everbright Bank 1762711.26 0.68

12 600000 Pudong Development Bank 1688714.35 0.65

13 601939 1623068.96 0.63

14 601328 Bank of Communications 1520080.36 0.59

15 600795 GD Power Development 1520001.53 0.59 16 600028 China Petroleum & Chemical 1488545.20 0.57

17 600029 CHINA SOUTH 1435143.87 0.55

18 600019 Baoshan Iron & Steel 1425772.03 0.55 19 601618 Metallurgical Corporation of China 1411450.88 0.54

20 601390 China Railway 1293494.03 0.50

2011 Fact Book 36 Stock Market

Top 20 Most Traded Stocks by Trading Value

Percentage Trading Value Rank Code Short Name in Total Market (RMB 10,000) Turnover Value (%)

1 600030 CITIC Securities 42015274.90 1.38

2 601318 33474710.13 1.10

3 600111 Baogang Rare Earth 32474209.05 1.07

4 600036 China Merchants Bank 29500389.98 0.97

5 600000 Pudong Development Bank 27711773.87 0.91

6 600348 Guoyang New Energy 27191624.38 0.89

7 600837 Haitong Securities 25703477.05 0.84

8 601166 25644968.89 0.84

9 600547 Shandong Gold 24541939.29 0.81

10 601899 Zijin Mining 22555091.36 0.74

11 600362 Jiangxi Copper 21684413.05 0.71

12 600489 Zhongjin Gold 19207704.75 0.63

13 600016 Minsheng Bank 18530863.49 0.61

14 601168 Western Mining 18269319.56 0.60

15 601601 China Pacific Insurance 17785768.03 0.58

16 600050 China Unicom 17018485.12 0.56

17 600031 Heavy Machinery 16991338.67 0.56

18 600100 Tsinghua Tongfang 16510444.85 0.54

19 600383 Gemdale 16486988.62 0.54

20 601088 China Shenhua 15348264.53 0.50

2011 Fact Book 37 Stock Market

Top 20 Gainers

2009 Year-end Close 2010 Year-end Change Rank Code Short Name (RMB) Close (RMB) (%) 1 600259 Rising Nonferrous Metals 15.660 64.970 314.88 2 600372 ST Changhe 8.340 31.930 282.85 3 600458 Times New Material 21.400 63.820 199.74 4 600406 NARI Technology Development 48.960 72.060 195.06 5 600330 Tiantong Electronics 6.020 17.290 187.21 BGRIMM Magnetic Material & 6 600980 11.180 30.140 169.59 Technology 7 600160 Zhejiang Juhua 9.360 22.680 168.66 8 600252 Zhongheng Group 26.520 35.450 167.56 9 600403 Xinwang Tech 12.970 33.920 161.80 10 600111 Steel Rare-Earth 27.420 71.440 160.84 11 600549 Tungsten 18.930 47.590 153.28 12 600468 Benefo Tejing Electric 17.350 35.960 148.69 13 600086 Eastern Gold Jade 9.730 23.690 143.47 14 600199 Golden Seed Winery 17.390 20.870 140.02 15 600256 Guanghui Industry Investment 22.900 41.930 138.29 16 600132 Carlsberg 23.520 55.430 137.55 17 600261 Zhejiang Yankon 18.490 42.310 132.18 18 900936 Eerduosi Cashmere B share 0.806 1.780 125.19 19 600673 East Sunshine Aluminum 8.160 18.330 124.63 20 600335 Dingsheng Tiangong 7.500 16.500 120.00

Top 20 Losers

2009 Year-end Close 2010 Year-end Close Rank Code Short Name Change (%) (RMB) (RMB) 1 600837 Haitong Securities 19.190 9.640 -48.77 2 600638 New Huangpu 17.250 9.020 -47.71 3 600005 Iron & Steel 8.280 4.280 -47.20 4 600657 Cinda Real Estate 11.220 6.120 -45.45 5 600325 Huafa Industrial 18.740 10.140 -45.40

2011 Fact Book 38 Stock Market

6 600162 HeungKong Holding 8.820 4.950 -43.39 7 600185 Gree real estate 12.890 7.320 -43.21 8 600282 Iron & Steel 6.090 3.430 -43.11 9 600159 Dalong Estates 17.960 5.130 -42.92 Shanghai Industrial 10 600748 13.950 8.070 -41.97 Development 11 600393 Donghua Industry 11.560 6.660 -41.51 China Petroleum & 12 600028 14.090 8.060 -41.46 Chemical 13 600052 Zhejiang Guangsha 8.300 4.870 -41.33 14 600569 Anyang Iron and Steel 5.720 3.380 -40.91 15 600426 Hualu-Hengsheng 23.490 13.830 -40.71 16 601588 North Star Industrial 5.930 3.500 -40.53 17 601099 Pacific Ocean 18.190 10.860 -40.20 Shandong Wanjie 18 600223 12.430 7.440 -40.14 High-Tech 19 601169 Bank of 19.340 11.440 -40.04 20 601788 Everbright Securities 25.520 14.950 -39.97

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Top 10 in Short Selling

Amount of Amount of Purchase for the Total Rank Code Short Name Short Sale securities to return the borrowed (RMB 10,000) (RMB10,000) securities (RMB 10,000)

1 601318 Ping An Insurance 15001.74 14277.05 29278.79

2 600036 China Merchants Bank 9709.67 9517.72 19227.39

3 600030 Citic Securities 7296.07 7242.53 14538.60

4 600519 5154.83 5158.99 10313.82

5 601899 Zijin Mining 4715.71 4675.99 9391.70

Shanghai Pudong 6 600000 4270.15 4233.78 8503.93 Development Bank

7 600048 2423.78 2358.41 4782.19

8 600795 GD Power 1777.19 1724.28 3501.47

9 601088 1776.30 1675.27 3451.57

10 601601 China Pacific Insurance 1636.14 1593.14 3229.28

2011 Fact Book 40 Stock Market

Top 10 in Margin Trading

Amount of Selling the Amount of Purchase on Margin Securities to Return Total Rank Code Short Name (RMB 10,000) the Borrowed Loan (RMB 10,000) (RMB 10,000) 1 601168 West Mining 282777.37 88835.79 371613.16

2 601318 Ping An Insurance 238986.70 60621.15 299607.85

3 600030 Citic Securities 204380.40 58314.28 262694.68

4 600362 Jiangxi Copper 172443.28 49522.37 221965.65

5 600089 Tebian Electric 155271.24 55954.24 211225.48 Apparatus

6 601166 Industrial Bank 145952.81 53056.03 199008.84

7 600036 China Merchants 152919.28 45040.25 197959.53 Bank

8 601899 Zijin Mining 138258.82 54909.12 193167.94

9 600519 Kweichow Moutai 146879.49 39331.15 186210.64

10 600547 Shandong Gold 131972.91 53510.04 185482.95

2011 Fact Book 41 Stock Market

SSE Index Compilation

Prepared and published by SSE, SSE indices are the authoritative statistical indices widely followed and used at home and abroad to measure the performance of China's securities market. SSE Index Series consists of 75 indices, including 69 equity indices, 5 bond indices and 1 fund index, covering several series such as market-size, sector, style, strategy and thematic series and becoming a continuous improved index system. SSE Composite Index takes December 19, 1990 as the base day and the total market capitalization of all the listed stocks on the same day as the base period, with a base of 100 points. It was published from July 15, 1991 and is the most widely used index in China's securities market. In June 2002, SSE restructured the original SSE 30 Index and renamed it SSE 180 Index. SSE 180 Index selects 180 of the most representative stocks listed on SSE based on sector representation, size and liquidity to reflect the overall situation and operation of Shanghai securities market and serve as performance benchmark as well as underlying instrument for financial derivatives. SSE 50 Index includes 50 of the largest, highly liquid and most representative SSE- listed stocks and reflects the performance of a number of leading and most influential enterprises in Shanghai securities market. The launch of SSE 380 index, SSE Mega-cap Index, SSE Small-cap Index, SSE Mid-cap Index, SSE Small- & Mid-cap Index, and SSE Large & Mid & Small Cap Index constitutes the SSE Market-size Index Series, along with the existing SSE 180 Index and SSE 50 Index.Of which, SSE 180 Index is mainly for emerging blue-chip stocks, reflecting the overall performance of non-traditional blue-chips stocks issued by companies characterized by moderate size, rapid growth and high profit. SSE 380 Index, SSE 180 Index and SSE 50 Index jointly make up of the main blue-chip stock index on the Shanghai Market. SSE Sector Index Series consist of 10 primary sector indices and reflect the overall performance of stocks from different sectors in Shanghai securities market respectively. SSE Style Index Series include SSE 180 Style Index Series and SSE All-share Style Index Series and reflect the overall performance of stocks in SSE 180 Index and SSE Large & Mid & Small Cap Index with different styles. SSE Strategy Index Series consist of 11 indices such as SSE Sector Classification Index and SSE Large-Cap Index. Weight method has been introduced into SSE Indices for the first time. SSE Thematic Index Series currently comprises 21 indices, i.e., SSE Dividend Index, SSE 180 Financial Index, SSE Corporate Governance Index, SSE 180 Corporate Governance Index, SSE 180 Infrastructure Index, SSE 180 Natural Resource Index, SSE 180 Transportation Index, SSE Social Responsibility Index, SSE Cyclical Industry 50 Index, SSE Non-cyclical Industry 100 Index, SSE Shanghai Enterprises Index, SSE Industry Top Index, SSE Overseas-listing A Share Index, SSE Central SOEs 50 Index, SSE Private Enterprises 50 Index, SSE Local SOEs 50 Index and SSE SOEs 100 Index. SSE Enterprise Bond 30 Index selects 30 of the high-quality, largest and most liquid enterprise bonds. It is China's first constituent bond index that is published on a real time basis and thus has profound significance for the development of the bond market. SSE Index Series measures the market trends in Shanghai securities market in general or from different dimensions and can reflect the performance and price movement of companies across a diverse range of industries. It offers investors different benchmarks for portfolio analysis.With the securities market set to play an increasingly important role in the national economy, SSE Indices will gradually become a barometer of the Chinese economy. To ensure the indices are based on scientific methodology, SSE established China's first index expert committee to provide advisory opinions on index construction and selection of constituent stocks.

2011 Fact Book 42 Stock Market

I. SSE Index Series

The SSE Index Series is comprised of 75 different indices in 8 categories.

2011 Fact Book 43 Stock Market

II. Index Compilation Methodology

(I) SSE Composite Index, SSE New Composite Index and SSE Circulation Index

Constituent stocks in SSE Composite Index include all the A Shares and B Shares listed on SSE. Constituent stocks in SSE New Composite Index consist of all the SSE-listed stocks that have completed the non-tradable share reform. Constituent stocks in SSE Circulation Index consist of all the SSE-listed A-shares except those whose equity division reform has not yet been completed and listing is suspended.

(II) SSE 180 Index

1. Index universe All the SSE-listed A Shares are eligible, except: ƒ A stock that has been listed on SSE for less than one quarter, unless it is among the top 18 SSE-listed A Shares in terms of average daily free-float market capitalization; ƒA stock that has been suspended from listing; ƒThe stock of a company with abnormal operations or with serious losses as indicated in its latest financial report; ƒA stock with high volatility and clear sign of price manipulation; and ƒOther stocks that are considered by the expert committee as inappropriate. 2. Selection method (1) Ranking stocks by market capitalization and trading value. To be more specific, stocks are firstly ranked by the average daily figures of the two indicators in the previous year respectively. Then the two rankings for each stock are added to arrive at an overall ranking for each stock; (2) Allocating a certain number of constituent stocks in each sector according to the respective proportion of free-

float adjusted market capitalization, more specifically: Number of constituent stocks allocated to Sector I = total free-float adjusted market capitalization of all the candidates in Sector I / total free-float market capitalization of all the candidates in Shanghai market ×180 (3) Selecting top ranking stocks in each sector based on the number allocated; (4) Making further adjustment to the candidates selected from each sector to ensure that the total number of constituents is 180.

(III) SSE 50 Index

Ranking stocks by total market capitalization and trading value. The top 50 stocks in the ranking are selected, except those with abnormal market performance and considered inappropriate by the expert committee. SSE Large-Cap Index and other weight indices are innovative indices derived from equal weight calculation of the universe for SSE 50 Index.

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(IV) SSE Mid-cap Index, SSE Small-cap Index, SSE Small- & Mid-cap Index, SSE Large & Mid & Small Cap Index and SSE 380 Index

1. SSE Mid-cap Index contains the 130 constituent stocks in SSE 180 Index that are not included in SSE 50 Index. 2. Selection method for SSE Small-cap Index Ranking the rest stocks (after deducting the constituent stocks of SSE 180 Index) in the universe (same as that for SSE 180 Index) by total market capitalization and trading value. The top 320 stocks in the ranking are selected, except those with abnormal market performance and considered inappropriate by the expert committee. 3. Constituent stocks in SSE Mid-cap Index and SSE Small-cap Index combine to constitute the constituent stocks of SSE Small- & Mid-cap Index. 4. Constituent stocks in SSE 180 Index and SSE Small-cap Index combine to form the constituent stocks of SSE Large & Mid & Small Cap Index. 5. SSE 380 Index (1) Index universe: All the SSE-listed A Shares are eligible, except: ƒA constituent of SSE180 Index. ƒCompanies whose latest financial reports disclose negative undistributed profits; ƒCompanies which were established at least 5 years ago and have not distributed cash bonus or sent shares to investors over the past 5 years. (2) Selection method Step 1: calculate the comprehensive ranks for the operating revenue growth, net asset income rate, turnover and total market value of constituent stocks; Step 2: Allocating each sector a certain number of constituent stocks in proportion to the respective adjusted free- float market capitalization of each sector.More specifically, Number of constituent stocks allocated to Sector I =sum of market capitalization of all the candidates in Sector I / sum of the market capitalization of all constituent stocks in the index universe*380 Step 3: Selecting top ranking stocks in each sector based on the number allocated;

(V) SSE Mega-cap Index

The index universe of SSE Mega-Cap Index shall be SSE 180 Index. In principle, Top 20 stocks in terms of daily turnover and daily market capitalization shall be chosen as the constituent stocks; the number of sample stocks in one single sector classified according to the SSE sector classification shall not be more than 6. The constituent index shall be calculated through the equal weight method.

(VI) SSE Dividend Index

1. The index universe consists of the SSE-listed A-shares which meet the following conditions: (1) Continuously distributed cash dividends in the past two years, with the cash dividend yield (after tax) each year higher than zero; (2) Among the top 50% of SSE-listed A Shares in the past year in terms of average daily free-float capitalization;

2011 Fact Book 45 Stock Market

and (3) Among the top 50% of SSE-listed A Shares in the past year in terms of average daily trading value. 2. Selection method Ranking stocks in the index universe by average cash dividend yield (after tax) over the past two years. The top 50 stocks in the ranking are selected, except those with abnormal market performance and considered inappropriate by the expert committee.

(VII) SSE Corporate Governance Index and SSE 180 Corporate Governance Index

Stocks in SSE Corporate Governance Sector are selected by SSE and China Securities Index Co., Ltd. (CSI) following listed companies' voluntary application, public appraisal, consultants' appraisal, preliminary selection and the advisory committee's discussion according to the Measures for the Selection of Stocks to be Included in SSE Corporate Governance Sector.All the stocks in SSE Corporate Governance Sector form the constituents of SSE Corporate Governance Index. (2) The top 100 stocks in the intersection of the SSE 180 Index and the SSE Corporate Governance Index are selected to be the constituents of SSE 180 Corporate Governance Index.If the number of stocks in the intersection is less than 100, the vacancy will be filled by the highest ranking, non-intersected stocks in SSE Corporate Governance Index.

(VIII) SSE 180 Financial Index

SSE 180 Financial Stock Index covers stocks included in the SSE 180 Index in the sectors of banking, insurance and trust.

(IX) SSE 180 Infrastructure Index, 180 Natural Resource Index and 180 Transportation Index

Stocks in the universe are classified using the industry classification methodology. Those that fall into the theme of infrastructure, natural resources or transportation form the constituents of SSE 180 Infrastructure Index, Natural Resource Index or Transportation Index. Infrastructure Natural Resources Transportation Oil & gas storage & transportation (ex non-pipeline Integrated oil & gas, oil & Airlines, shipping, transportation), oil & gas drilling, oil & gas equipment gas exploration & production, trucking, railroads, & services (ex equipment manufacturing), highways & coal & consumable fuels, highways & railtracks, railtracks, marine ports & services, airport services, electric aluminum, gold, diversified marine ports & utilities, water utilities, gas utilities, multi-utilities, integrated metals & mining, and precious services, and airport telecommunication services, wireless telecommunication metals & minerals services services, alternative carriers, and construction & engineering

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(X) SSE Medium Enterprise Composite Index

By applying the commonly used classification method for enterprises in the national economy while considering the size of China's listed companies, all the stocks in the universe are classified into three categories according to their total share capital, total assets and operating revenue, namely, large-sized enterprises, medium-sized enterprises and small-sized enterprises.The classification standards for medium-sized enterprises are reviewed annually and adjusted as appropriate.All the listed companies classified as medium-sized enterprises form the constituents of the SSE Medium Enterprise Composite Index.

(XI) SSE 180 Style Index Series and SSE All-shares Style Index Series

SSE 180 Style Index takes growth rate of operating income, growth rate of net profit and internal growth rage as the factors for measuring the growth characteristics of stocks, and takes dividend proceeds ratio (D/P), ratio of net assets to price per share (B/P), ratio of net cash flow to price per share (CF/P), and ratio of earning to price per share (E/P) as the factors for measuring the value characteristics of stocks; select the most representative 60 growth stocks and 60 value stocks from the SSE 180 Index constituent stocks to form SSE 180 Growth Index and SSE 180 Value Index respectively. SSE 180 Relative Growth and SSE 180 Relative Value Index consist of all SSE 180 Index constituent stocks, the market capitalization of which is distributed to relative growth and relative value index in light of a certain style weight. The number of constituent stocks for SSE All-shares Growth index and SSE All-shares Value Index is 150 and the method for preparing index is basically the same as that of SSE 180 Style Index.

(XII) SSE Sector Index Series

By using and adapting international prevailing industry classification method to the realities of China's listed companies, all the listed companies are classified into ten primary sectors, namely, energy, materials, industrials, consumer discretionary, consumer staples, health care, financials, information technology, telecommunication services and utilities.SSE Industry Index takes average daily turnover volume and average daily total market capitalization as main sample selection indicators, the market capitalization of index for each sector is required to account for more than 80%, and the number of constituent stocks from sectors with a larger number of stocks is limited to between 30 stocks to 50 stocks.

(XIII) SSE Actual Controller Index Series

SSE Actual Controller Index Series cover 4 indices: SSE Central SOEs 50 Index, SSE POEs 50 Index, SSE Local SOEs 50 Index and SSE SOEs 100 Index. SSE Central SOEs Index and SSE Local SOEs Index constitute the SSE SOEs 100 Index. The Stock of a SSE listed company whose de facto controller is the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) or the Ministry of Finance belongs to Central SOEs; the stock of a SSE listed company whose de facto controller is domestic natural person(s) belongs to POEs; the stocks of a SSE

2011 Fact Book 47 Stock Market

listed company whose de facto controller is local administrations of State-owned Assets Supervision and Administration Commission, local governments or local SOEs belong to local SOEs. In principle, the constituent stocks are selected from the top 50 stocks in terms of daily turnover volume and daily market capitalization.

(XIV) SSE Social Responsibility Index

All the A Shares in SSE Corporate Governance Sector that release social responsibility reports consists of Index Universe. First, ranking stocks in the universe by average daily A-share trading value for the most recent year and deleting the stocks (non-ST or *ST stocks) in the bottom 20%. Calculating the social contribution value per share of the rest stocks as the term is defined in the “Circular on Strengthening Corporate Social Responsibility among Listed Companies” issued by the SSE in May 2008. Ranking the rest stocks by social contribution value per share and selecting the top 100 stocks.In principle, any stocks with clear breaches of their social responsibilities in the last year should not be included in the SSE Social Responsibility index.

(XV) SSE Cyclical Industry 50 Index and SSE Non-cyclical Industry 100 Index

According to the CSRC industry classification standards, SSE listed A Shares are classified into 22 industries. Based on industry cyclicality, the industries of finance & insurance, mining, transportation, metals & non -metals and real estate are further classified as cyclical industries and the rest industries are classified as non-cyclical industries. The constituent stocks of SSE Large & Mid & Small Cap Index assigned to cyclical industries constitute the index universe of SSE Cyclical Sector 50 Index. The constituent stocks of SSE Large & Mid & Small Cap Index assigned to non-cyclical industries constitute the index universe of SSE Non-cyclical Sector 100 Index. In principle, the stocks comprehensively ranking top 50 and top 100 in terms of daily average turnover volume and daily average total market capitalization shall be respectively selected as index universe.

(XVI) SSE Industry Top Index

Ranking the stocks in the universe by average daily market capitalization, average daily trading value, revenue and profits of the previous year in 25 secondary industries such as raw materials, capitals, transportation, motor vehicles and accessories, and then every scores for each stock are added to arrive at an overall ranking for each stock. The top 3 stocks in each industry are selected as the SSE Industry Top Index.

(XVII) SSE Shanghai Enterprises Index

The SSE Shanghai Enterprises Index adopts companies listed on the SSE and registered in Shanghai as the index universe, which consists of 50 such Shanghai-based companies which are large in size, good in fluidity and are the most representative among their peers.

(XVIII) SSE Overseas-listing A Share Index

2011 Fact Book 48 Stock Market

Constituent stocks of the SSE Overseas-listing A-Share Index consist of listed company stocks in the SSE 180 index which are listed both on the SSE and on stock exchanges outside the mainland of China.

(XIX)SSE Commodity Equity Index

SSE Commodity Equity Index is based on constituent stocks that consist of 50 large companies with good fluidity chosen from SSE Large & Mid & Small Cap Index, which are from such industries as integrated oil & gas, exploration and production of oil and gas, refinery and marketing, coal, non-ferrous metal, mining, chemical fertilizer and pesticide, agricultural products, forestry products, and paper products.

(XX) SSE Emerging Industries Index

The selection method of emerging industries stocks: stocks in the SSE Large & Mid & Small Cap Index that are from such emerging industries as new energy, biomedical, new materials, and electric automobile and satisfy the following three requirements are designated as emerging industries stocks: the products having stable and promising market demands; having good economic and technical benefits; capable of facilitating the rise of other industries. As a general rule, the top-50 stocks in terms of daily total market capitalization and average daily turnover volume last year are chosen as constituent stocks. Weighting of the index is based on equal weight.

(XXI) SSE Natural Resource Index

The selection of resource-based stocks: stocks in the SSE Large & Mid & Small Cap Index that are classified as energy, aluminum, metals and mining, gold, precious metal and ore, agricultural products and forestry products as the resource stocks. As a general rule, the top-50 stocks in terms of daily total market capitalization and average daily turnover volume last year are chosen as constituent stocks.

(XXII) SSE Consumption 80 Index

Selection method of consumption-based stocks: list the stocks classified in such sectors as consumer discretionary, consumer staples, medicines and hygiene in the SSE Large & Mid & Small Cap Index as consumption-based stocks. Top 80 overall ranking stocks in terms of the average daily market capitalization and average daily turnover volume in the previous one year are generally be selected to be the index constituents.

(XXIII) SSE Fund Index

SSE Fund Index includes all the securities investment funds listed on SSE and is designed to reflect the overall performance of securities investment funds listed on SSE.

(XXIV) SSE Fund Index Series

SSE T-bond Index Series includes all the fixed-rate interest T-bonds listed on SSE with time to maturity more than

2011 Fact Book 49 Stock Market

one year and repayment of principal and payment of interest at maturity. SSE T-bond Index is designed to reflect the overall performance of all the T-bonds listed on SSE. SSE Enterprise Bond Index includes all the non-equity-linked, fixed-rate interest enterprise bonds listed on SSE and Shenzhen Stock Exchange, with time to maturity more than one year, repayment of principal and payment of interest at maturity, and an investment grade of above BBB. SSE Enterprise Bond Index is designed to reflect the overall performance of all the enterprise bonds listed on SSE and Shenzhen Stock Exchange. SSE Corporate Bond Index is the first index that reflects the overall price movement of corporate bonds on SSE. It consists of all the corporate bonds traded on SSE and is calculated and published on a real time basis each day by SSE and CSI.SSE Corporate Bond Index also provides a new performance benchmark and analysis tool for bond investors. SSE Detachable Corporate Bond Index is the first index that reflects the overall price movement of detachable corporate bonds on SSE. It consists of all the detachable and convertible corporate bonds traded on SSE and is calculated and published on a real time basis each day by SSE and CSI. SSE Detachable Corporate Bond Index also provides a new performance benchmark and analysis tool for bond investors.

SSE Enterprise Bond 30 Index

1. Index universe ƒTypes of bonds: non-equity-linked enterprise bonds listed on SSE, including corporate bonds and convertible bonds with detachable warrants. ƒTime to maturity: Over 1 year ƒInterest payment: Fixed-rate interest, repayment of principal and payment of interest at maturity; ƒCredit rating: AA or above 2. Selection method First, calculate the median daily turnover volume of all the bonds in the index universe and then delete the bonds in the bottom 50% in terms of the median daily turnover volume; rank the rest bonds by turnover volume, number of trading days and issuance size and select the top 30 in the overall ranking to be the index constituents. The duration of SSE Enterprise Bond 30 Index is designed to be consistent with that of SSE Enterprise Bond Index with a deviation less than 10%.

SSE Index Series uses “point” as the unit of calculation.

(I) Base day, base period index and launch date Base period Indices Base day Launch date index Composite Indices

SSE Composite Index 1990-12-19 100 1991-7-15

SSE New Composite Index 2005-12-30 1000 2006-1-4

SSE A-share Index 1990-12-19 100 1992-2-21

SSE B-share Index 1992-2-21 100 1992-8-17

2011 Fact Book 50 Stock Market

SSE Sector Sub-indices 1993-4-30 1358.78 1993-5-3

SSE Medium Enterprise Composite Index 2007-12-28 1000 2008-5-12

SSE Free-float Index 2009-12-31 1000 2010-12-2

Market-size Indices

SSE 180 Index 2002-6-28 3299.06 2002-7-1

SSE 50 Index 2003-12-31 1000 2004-1-2

SSE Mega-cap Index 2003-12-31 1000 2009-4-23

SSE Mid-cap Index 2003-12-31 1000 2009-7-3

SSE Small-cap Index 2003-12-31 1000 2009-7-3

SSE Small- & Mid-cap Index 2003-12-31 1000 2009-7-3

SSE Small- & Mid-cap Index 2003-12-31 1000 2009-7-3

SSE 380 Index 2003-12-31 1000 2010-11-29

Section Indices

SSE Sector Indices (10 Indices) 2003-12-31 1000 2009-1-9

Style Indices

SSE 180 Style Indices (4 Indices) 2002-6-28 1000 2009-1-9

SSE All-share Style Indices (4 Indices) 2003-12-31 1000 2010-1-4

SSE Strategy Index

SSE Sector Hierarchy Equal Weight Index (10) 2003-12-31 1000 2010-8-18

SSE Large Cap Equal Weight Index 2003-12-31 1000 2011-1-4

Thematic Indices

SSE Dividend Index 2004-12-31 1000 2005-1-4

SSE 180 Financial Index 2002-6-28 1000 2007-12-10

SSE Corporate Governance Index 2007-6-29 1000 2008-1-2

SSE 180 Financial Index 2007-6-29 1000 2008-9-10 SSE 180 Infrastructure/Natural Resource/ 2002-6-28 1000 2008-12-15 Transportation Index SSE Central SOEs 50 Index 2008-12-31 1000 2009-3-30

2011 Fact Book 51 Stock Market

Social Responsibility Index 2009-6-30 1000 2009-8-5

Private Enterprises 50 Index 2009-6-30 1000 2009-8-25

SSE Local SOEs 50 Index: 2009-6-30 1000 2010-1-4

SSE SOEs 100 Index: 2009-6-30 1000 2010-1-4

SSE Overseas-listing A Share Index 2006-12-29 1000 2010-1-4

SSE Shanghai Enterprises Index 2005-12-31 1000 2010-1-4

SSE Cyclical Industry 50 Index 2003-12-31 1000 2010-2-3

SSE Non-cyclical Industry 100 Index 2003-12-31 1000 2010-2-3

SSE Industry Top Index 2003-12-31 1000 2010-2-9

SSE Commodity Stock Index 2003-12-31 1000 2010-4-30

SSE New-emerging Industry Index 2003-12-31 1000 2010-4-30

SSE Natural Resources Index 2003-12-31 1000 2010-5-28

SSE Consumption 80 Index 2003-12-31 1000 2010-5-28

Bond Indices

SSE T-bond Index 2002-12-31 100 2003-1-2

SSE Enterprise Bond Index 2002-12-31 100 2003-6-9

SSE Corporate Bond Index 2007-12-31 100 2008-11-19

SSE Detachable Corporate Bond Index 2007-12-31 100 2008-11-19

SSE Enterprise Bond 30 Index 2003-12-31 100 2010-1-4

Fund Index

SSE Fund Index 2000-5-8 1000 2000-6-9

(II) Calculation formula

1. SSE Index Series is all calculated using a Paasche weighted composite price index formula. 2. SSE Composite Index and Sub-indices SSE Composite Index, SSE New Composite Index and Class and Sub-indices are weighted by the issued share capital of the constituent stocks. The calculation formula is as follows: Index for a particular report period = (total market capitalization of constituent stocks in the report period / base period) × base period index Where: total market capitalization = ¦ (market price × number of shares issued).

2011 Fact Book 52 Stock Market

When calculating SSE B-share Index, B-share prices are in US dollars. When calculating other indices, B-share prices are converted into RMB at the applicable exchange rate (central parity rate of RMB against US dollars on the last trading day of each week as announced by the China Foreign Exchange Trade System).

3. Other SSE index series are weighted by the adjusted number of shares of the constituent stocks. The calculation formula is as follows: Index for a particular report period = (adjusted market capitalization of the constituent stocks in the report period / divisor × base points Where: (1) the adjusted market capitalization of SSE 180 Index, SSE 50 Index, SSE Mid-cap Index, SSE Small-cap Index, SSE Small- & Mid-cap Index, SSE Large & Mid & Small Cap Index, SSE Dividend Index, SSE Corporate Governance Index, SSE 180 Corporate Governance Index and SSE Medium Enterprise Composite Index, SSE All-share Style Index Series, SSE Social Responsibility Index, SSE Cyclical Industry 50 Index and SSE Non-cyclical Industry 100 Index = ¦ (market price × adjusted number of shares); (2) the adjusted market capitalization of SSE 180 Financial Index, SSE 180 Thematic Indices (Infrastructure/Natural Resource/Transportation Index), SSE 180 Style Index Series, SSE Sector Indices, SSE Central SOEs 50 Index, SSE POEs 50 Index, SSE Local SOEs 50 Index, SSE SOEs 100 Index, SSE Shanghai Enterprises Index and SSE Overseas- listing A Share Index, SSE Bulk Commodity Share Index, SSE Natural Resources Index, SSE Consumption 80 Index and SSE Sector Hierarchy Equal Weight Index = ¦ (share price × adjusted number of shares × weight cap factor), and the weight cap factor is between 0 and 1 and is designed to set a 15%, 10% or 5% cap on the weight of a constituent stock. (3) the adjusted market capitalization of SSE Mega-cap Index, SSE New Industry Index and SSE Cap Equal Weight Index = ¦ (share price × adjusted number of shares × equal weight cap factor). The equal weight cap factor is designed to set a 5% cap on the weight of SSE Mega-cap Index and a 2% cap on SSE New Industry Index and SSE Cap Index respectively. (4) the adjusted market capitalization of SSE Industry Top Index = ¦ (share price × adjusted number of shares × weight cap factor) and the weight cap factor = (operating revenue/ ¦ operating revenue + operating profit / ¦ operating revenue)/2/market capitalization*10000000. (5) Adjusted number of shares The adjusted number of shares is obtained by using classification and rounding off method on component stocks. The classification and rounding off method has been developed following the international practices and the advices of the expert committee, which is illustrated in the following table. For example, a stock with a free-float ratio (free-float share capital / total share capital) of 7%, which is below 10%, will use the free-float share capital as the weight. A stock with a free-float ratio of 35%, which falls within the range of (30, 40] and corresponds to 40%, will use 40% of its share capital as the weight.

Free-float ratio (%) d10 (10,20] (20,30] (30,40] (40,50] (50,60] (60,70] (70,80] >80 Weighted ratio (%) Free-float ratio 20 30 40 50 60 70 80 100

4. SSE Fund Index SSE Fund Index is weighted by the number of fund units issued. The calculation formula is as follows:

2011 Fact Book 53 Stock Market

Index for a particular report period = (total market capitalization of funds in the report period / base period) × base period index Where: total market capitalization = ¦ (market price × number of shares issued).

5. SSE T-bond Index SSE T-bond Index is weighted by the amount of constituent bonds issued at the SSE. The calculation formula is as follows: Index for a particular report period = (total market capitalization of constituent bonds in the report period + interest and returns on reinvestment) / base period × 100 total market capitalization = ¦ (dirty price × number of T-bonds issued), dirty price = clean price + accrued interest Interest and returns on reinvestment in a report period refer to returns from reinvesting the current month's accrued interest in the T-bond index itself.

6. SSE Enterprise Bond Index 1. SSE Index Series is all calculated using a Paasche weighted composite price index formula.Weighted by the issued amount of constituent bonds, the calculation formula is as follows: Index for a particular report period = (total market capitalization of constituent bonds in the report period + interest and returns on reinvestment) / base period × 100 total market capitalization = ¦ (dirty price × number of enterprise bonds issued), interest and returns on reinvestment in the report period refer to returns from reinvesting the current month's accrued interest in the bond index itself. Real-time index calculation (III)SSE Index Series is calculated on a real time basis To be more specific, at the end of call auction on each trading day, the opening price generated from the call auction (or closing price of the previous trading day in the absence of any trade during call auction) will be used to calculate the opening index. The index will then be recalculated every two seconds throughout the trading hours and released to the public on a real-time basis every six seconds.

IV Index Maintenance

(I) Maintenance formula SSE Index Series is adjusted using a Divisor Adjustment Methodology. In case of any changes in the list of constituents or in the equity structure of constituents, or variation in market capitalization due to any reason irrelevant to trading, the original divisor must be adjusted to ensure continuity of index. The formula for advisor adjustment is as follows:The formula for advisor adjustment is as follows: market capitalization prior to adjustment/primary divisor =market capitalization after adjustment/new divisor market capitalization after adjustment = market capitalization prior to adjustment+ change in market capitalization; The new divisor so determined (i.e. the divisor after adjustment, also called the new base period) will be used for subsequent index calculation.

(II) Situations where adjustment is required

2011 Fact Book 54 Stock Market

1. New listing – for composite indices (SSE Composite Index and SSE New Composite Index) and Sub-indices (SSE A-share Index, SSE B-share index and Sector Sub-indices), new listings are added to indices on their eleventh trading day. 2. Ex-dividend – In case of ex-dividend for a constituent stock (dividend payout), no adjustment is required. 3. Ex-right – In case of bonus stock offer or rights issue for a constituent stock, the index is adjusted on the day prior to the base day for ex-rights. Market capitalization after adjustment = ex-right price × number of share capital after ex-right + market capitalization prior to adjustment (excluding ex-right stocks)

4. FX rate changes – On the last trading day of each trading week, the index is adjusted at the central parity rate of RMB against US dollars announced by the China Foreign Exchange Trade System.

5. Suspension of trading – When a constituent is suspended from trading, the last traded price is used for index calculation.

6. Delisting – When a constituent is to be delisted (termination of listing), the index is adjusted before the date of delisting.

7. Change of share capital – In case of equity structure changes in a constituent due to other reasons (increase of tradable shares resulting from additional offers, among others), the index will be adjusted on the day before such changes take place.

Market capitalization after adjustment = closing price × number of share capital after adjustment +market capitalization before adjustment (excluding the stocks in question)

8. Market closure – When A-share or B-share market is partially closed, the indices are calculated as usual; in case of closure of both A-share and B-share market, the indices will not be computed.

V Release of Indices

SSE Index Series is published widely both at home and abroad using various means. 1. Nationwide broadcasting via SSE's real time satellite broadcasting system. 2. Real-time global dissemination via Thomson Reuters, Bridge and Bloomberg Financial Service. 3. The indices are also published in SSE's Daily Market Quotes, Weekly Market Quotes and SSE Monthly Market Statistics. 4. The indices are also available daily via SSE's Internet website: http://www.sse.com.cn. 5. They are also transmitted after the close of the market in the form of an “E-Report” by e-mail to various media, including China Securities Journal and Shanghai Securities News.

2011 Fact Book 55 Stock Market

Number of Constituents in SSE Indices

Index Code Short Name Number of Constituents

000001 SSE Index 938

000002 A-share Index 884

000003 B-share Index 54

000004 Industrial Sub-index 592

000005 Commercial Sub-index 60

000006 Real Estate Sub-index 24

000007 Public Utilities Sub-index 100

000008 Conglomerates Index 162

000009 SSE 380 380

000010 SSE 180 180

000011 Fund Index 25

000012 T-Bond Index 109

000013 Enterprise Bond Index 311

000015 Dividend Index 50

000016 SSE 50 50

000017 New Composite Index 870

000300 CSI 300 300

000901 Xiaokang Index 100

000902 China Securities Free Floating Index 2017

000903 China Securities 100 Index 100

2011 Fact Book 56 Stock Market

Market Cap and Weight of Constituent Stocks in SSE 50 Index

Market Cap Number of Tradable Shares Closing Price Weight in SSE 50 Code Short Name of Tradable Shares (10,000 shares) (RMB) Index(%) (RMB 10,000) 600000 Pudong Development Bank 1147906 14222555 12.39 3.89 600005 Wuhan Iron & Steel 313535 1341931 4.28 0.59 600015 Hua Xia Bank 378400 4124560 10.90 1.44 600016 Minsheng Bank 2258760 11338976 5.02 4.99 600019 Baoshan Iron & Steel 1751205 11190199 6.39 1.47 600028 China Petroleum & Chemical 6992204 56357164 8.06 1.47 600030 CITIC Securities 985570 12408328 12.59 3.77 600036 China Merchants Bank 1766613 22630314 12.81 6.91 600048 Poly Real Estate 449479 5708385 12.70 1.26 600050 China Unicom 2119660 11340179 5.35 1.96 600089 Xinjiang Tebian Electric 202735 3783042 18.66 1.63 Apparatus 600104 SAIC Motor 852144 12509476 14.68 1.17 600362 Jiangxi Copper 207525 9373893 45.17 1.54 600383 Goldfield Industries 447151 2763392 6.18 0.97 600489 Zhongjin Gold 67746 2732870 40.34 1.24 600519 Kweichow Moutai 94380 17358370 183.92 3.03 600547 Shandong Hexi Gold 69192 3647110 52.71 1.60 600550 Tianwei Baobian 116800 2696912 23.09 0.57 600739 Liaoning Chengda 90945 2739253 30.12 1.18 600795 GD Power 1395428 4270010 3.06 1.23 600837 Haitong Securities 822782 7931620 9.64 1.70 600900 Yangtze Power 736407 5574601 7.57 2.18 601006 Daqin Railway 1486679 11625831 7.82 2.02 601088 China Shenhua 1631104 40304575 24.71 3.49 601111 784568 10732889 13.68 0.98 601166 Industrial Bank 599245 14411844 24.05 4.44 601168 Western Mining 238300 4489572 18.84 1.28 601169 622756 7124331 11.44 2.19 601186 China Railway Construction 245000 1661100 6.78 0.91 601288 Agricultural Bank of China 1534235 4111751 2.68 1.18 601318 Ping An Insurance 478641 26880477 56.16 8.15

2011 Fact Book 57 Stock Market

601328 Bank of Communications 2973550 16295056 5.48 5.02 601390 China Railway 1662501 7198629 4.33 0.96 601398 ICBC 26222450 111183189 4.24 2.85 601600 Chalco 393130 3986343 10.14 0.84 601601 China Pacific Insurance 620829 14216978 22.90 3.11 601618 Metallurgical Corporation of 362739 1418310 3.91 0.83 China 601628 China Life 2082353 44354119 21.30 1.39 601668 China State Construction 1308000 4473360 3.42 1.80 601699 Lu’an Environmental Energy 115054 6861832 59.64 1.15 601766 China South Locomotive & 300000 2265000 7.55 1.27 Rolling Stock 601788 China Everbright Securities 109300 1634035 14.95 0.44 601857 Petrochina 16152208 181227771 11.22 1.85 601898 China Coal Energy 152533 1656512 10.86 0.85 601899 Zijin Mining 632497 5192798 8.21 1.84 601919 China COSCO 747595 7027393 9.40 0.93 601939 China Construction Bank 959366 4403489 4.59 1.93 601958 Jinduicheng Molybdenum 77400 1876185 24.24 0.98 601988 Bank of China 19552491 63154544 3.23 0.99 601998 Citic Bank 2641771 13869296 5.25 0.53

2011 Fact Book 58 Stock Market

Market Cap and Weight of Constituent Stocks in SSE 180 Index

Number of Market Cap of Tradable Closing Price Weight in 180 Code Short Name Tradable Shares Shares (RMB 10,000) (RMB) Index(%) (10,000 shares) 600000 Pudong Development Bank 1147906 14222555 12.39 2.46 600005 Wuhan Iron & Steel 313535 1341931 4.28 0.37 600007 China World Trade Center 100728 1015341 10.08 0.06 600008 Beijing Capital 220000 1480600 6.73 0.20 600009 Shanghai Airport 109348 1354817 12.39 0.33 600010 Baotou Steel 272065 1031127 3.79 0.27 600011 Huaneng Power 287821 1657851 5.76 0.49 International 600015 Hua Xia Bank 378400 4124560 10.90 0.91 600016 Minsheng Bank 2258760 11338976 5.02 3.15 600018 Shanghai Port & Container 2099080 7997495 3.81 0.45 600019 Baoshan Iron & Steel 1751205 11190199 6.39 0.93 600022 Iron & Steel 312048 1107770 3.55 0.12 600026 China Shipping 210855 2024210 9.60 0.17 Development 600028 China Petroleum & 6992204 56357164 8.06 0.93 Chemical 600029 China Southern Airlines 480000 4675200 9.74 0.56 600030 CITIC Securities 985570 12408328 12.59 2.38 600031 Sany Heavy Industry 468720 10138414 21.63 1.20 600036 China Merchants Bank 1766613 22630314 12.81 4.36 600037 Gehua Cable TV 106036 1325451 12.50 0.22 600048 Poly Real Estate 449479 5708385 12.70 0.80 600050 China Unicom 2119660 11340179 5.35 1.24 600052 Zhejiang Guangsha 87179 424561 4.87 0.06 600058 Minmetals Development 107191 3505148 32.70 0.38 600064 Nanjing Xingang High-Tech 51622 755744 14.64 0.15 600068 Gezhouba 348746 4045452 11.60 0.66 600082 Hi-Tech Development 62717 333029 5.31 0.08 600089 Tebian Electric 202735 3783042 18.66 1.03 600096 Yuntianhua 31759 848278 26.71 0.22 600100 Tsinghua Tongfang 97697 2589949 26.51 0.50

2011 Fact Book 59 Stock Market

600104 SAIC Motor 852144 12509476 14.68 0.74 600108 Yasheng Group 144119 948303 6.58 0.25 600109 Sinolink Securities 42666 623781 14.62 0.12 600111 Baotou Steel Rare-Earth 49316 3523111 71.44 0.90 600123 Lanhua Sci-Tech Venture 57120 2689210 47.08 0.43 600150 China State Shipbuilding 66256 4488821 67.75 0.25 600158 China Sports 62619 467761 7.47 0.13 600161 Tiantan Biological Products 48825 1118093 22.90 0.16 600162 Heungkong Holding 36170 179040 4.95 0.05 600166 Foton Motor 60280 1463589 24.28 0.42 600173 Wolong Real Estate 72506 450986 6.22 0.06 600177 Yongor 160892 1756943 10.92 0.33 600183 Shengyi Tech 95688 1089883 11.39 0.18 600188 Yanzhou Coal 36000 1022040 28.39 0.45 600196 Fosun Pharmaceutical 111063 1496025 13.47 0.35 600198 Datang Telecom 43733 858484 19.63 0.17 600208 Xinhu Zhongbao 513215 3079290 6.00 0.25 600216 Zhejiang Medicine 44998 1465580 32.57 0.24 600219 Nanshan Aluminum 82871 803853 9.70 0.25 600220 Jiangsu Sunshine 136313 706099 5.18 0.17 600221 Hainan Airlines 334519 3000639 8.97 0.28 600239 Yunnan City Investment 42759 794035 18.57 0.13 600240 Beijing Huaye Real estate 64500 480525 7.45 0.07 600246 Vantone Pioneer Real Estate 121680 704527 5.79 0.10 600256 Guanghui Industry 71917 3015489 41.93 0.87 600266 Beijing Urban Construction 88920 1085713 12.21 0.15 600267 Haizheng Pharmaceutical 48378 1861585 38.48 0.25 600269 Ganyue Expressway 233541 1300822 5.57 0.18 600271 Chinese aerospace 92340 2540273 27.51 0.35 information 600300 V V Food Beverage 160600 947540 5.90 0.13 600309 Wanhua 166333 3191939 19.19 0.43 600320 Zhenhua Heavy Industries 254760 1663582 6.53 0.32 600322 Reality Development 110570 500882 4.53 0.11 600325 Huafa 81705 828484 10.14 0.18 600331 Hongda 103200 1600632 15.51 0.26 600348 Guoyang New Energy 240500 6897540 28.68 0.91 600352 Zhejiang Longsheng 146842 1722452 11.73 0.33

2011 Fact Book 60 Stock Market

600362 Jiangxi Copper 207525 9373893 45.17 0.97 600369 Southwest Securities 37940 441243 11.63 0.15 600376 Beijing Capital Development 52011 876384 16.85 0.11 600383 Gemdale 447151 2763392 6.18 0.61 600395 Panjiang Refined Coal 26876 874805 32.55 0.27 600415 Zhejiang China 60126 2106810 35.04 0.65 Commodities City 600418 JAC 107287 1140459 10.63 0.23 600428 COSCO Shipping 131042 1092893 8.34 0.16 600432 Jien Nickel 76334 1952626 25.58 0.22 600489 Zhongjin Gold 67746 2732870 40.34 0.78 600497 Chihong Zinc & Germanium 93945 2413446 25.69 0.34 600508 Shanghai Energy 72272 2044569 28.29 0.22 600516 FangDa Carbon New 61681 864150 14.01 0.25 Material 600518 Kangmei Pharmaceutical 169437 3339603 19.71 0.65 600519 Kweichow Moutai 94380 17358370 183.92 1.91 600528 China Railway Erju 145920 1324954 9.08 0.18 600533 Chixia Development 105000 526050 5.01 0.09 600547 Shandong Gold 69192 3647110 52.71 1.01 600550 Tianwei Baobian 116800 2696912 23.09 0.36 600583 Offshore Oil Engineering 374904 3036722 8.10 0.42 600585 266647 7914078 29.68 0.84 600595 Henan Zhongfu Industry 118306 1632623 13.80 0.22 600598 Heilongjiang Agriculture 177768 2351871 13.23 0.26 600601 Founder Science & 219489 897711 4.09 0.25 Technology 600611 Dazhong Transportation 104221 795207 7.63 0.13 600622 Jiabao Industry & 51430 524076 10.19 0.11 Commerce Group 600631 Brilliance Group 110103 1679067 15.25 0.27 600635 Dazhong Public Utilities 164487 1097128 6.67 0.24 600638 New Huang Pu 56116 506170 9.02 0.11 600639 Pudong Jinqiao 65665 598864 9.12 0.06 600641 Wanye Enterprise 80616 587690 7.29 0.08 600642 Shenergy 315252 2405370 7.63 0.40 600643 AJ Trust & Investment 76486 728149 9.52 0.22 600649 Shanghai Chengtou 111424 885820 7.95 0.25

2011 Fact Book 61 Stock Market

600655 Yuyuan Tourist Mart 143732 1933198 13.45 0.42 600657 Cinda Real Estate 49703 304185 6.12 0.08 600660 Fuyao Glass 176290 1808733 10.26 0.39 600663 Lujiazui Lujiazui 135808 2281581 16.80 0.19 600664 Pharmaceutical 81030 1828846 22.57 0.47 600674 Chuantou Energy 54744 806928 14.74 0.15 600675 China Enterprise 141444 978792 6.92 0.19 600690 89918 2536599 28.21 0.61 600717 Tianjin Port 144884 1208333 8.34 0.19 600718 Neusoft 32730 524990 16.04 0.16 600724 Fuda 44438 262186 5.90 0.07 600736 New District Hi- 88157 461942 5.24 0.08 Tech 600737 Cofco Tunhe 80560 1276883 15.85 0.21 600739 Liaoning Chengda 90945 2739253 30.12 0.75 600741 Huayu Automotive 147256 1503486 10.21 0.29 600747 Daxian Enterprises 77756 443985 5.71 0.12 Holdings 600748 Shanghai Industrial 87094 702851 8.07 0.10 Development 600759 Hainan Zhenghe Industrial 120621 630847 5.23 0.05 Group 600779 Swellfun 29532 655618 22.20 0.21 600795 GD Power 1395428 4270010 3.06 0.78 600804 Dr. Peng 115551 1001829 8.67 0.13 600808 Maanshan Iron & Steel 596775 2035003 3.41 0.22 600811 Oriental Group 124107 972999 7.84 0.29 600812 Northern China Pharm 102858 1615895 15.71 0.35 600816 Anxin Trust 45385 617236 13.60 0.12 600823 Shimao Real Estate 47836 646258 13.51 0.13 600832 Shanghai Oriental Pearl 318633 2711571 8.51 0.37 600837 Haitong Securities 822782 7931620 9.64 1.07 600839 Sichuan Changhon 284174 1051444 3.70 0.20 600872 Jonjee Hi-Tech 79664 587918 7.38 0.16 600875 Dongfang Electric 154393 5388316 34.90 0.63 600879 Aerospace Times 62567 840900 13.44 0.24 Electronics 600881 Yatai Group 189473 1269470 6.70 0.35 600895 Zhangjiang Hi-tech 154869 1359749 8.78 0.19

2011 Fact Book 62 Stock Market

600900 Yangtze Power 736407 5574601 7.57 1.38 600997 Kailuan Clean Coal 71656 1442433 20.13 0.33 600999 Merchants Securities 188890 3581353 18.96 0.37 601001 Coal 167370 3516444 21.01 0.38 601006 Daqin Railway 1486679 11625831 7.82 1.27 601009 Bank of Nanjing 296893 2951120 9.94 0.57 601088 China Shenhua 1631104 40304575 24.71 2.20 601099 Pacific Ocean 144680 1571219 10.86 0.09 601107 Sichuan Expressway 115745 767389 6.63 0.12 601111 Air China 784568 10732889 13.68 0.62 601166 Industrial Bank 599245 14411844 24.05 2.80 601168 Western Mining 238300 4489572 18.84 0.81 601169 Bank Of Beijing 622756 7124331 11.44 1.38 601186 China Railway Construction 245000 1661100 6.78 0.58 601288 Agricultural Bank of China 1534235 4111751 2.68 0.75 601299 China CNR 255766 1813382 7.09 0.64 601318 Ping An Insurance 478641 26880477 56.16 5.14 601328 Bank of Communications 2973550 16295056 5.48 3.17 601333 Guangshen Railway 537744 1855216 3.45 0.27 601390 China Railway 1662501 7198629 4.33 0.61 601398 ICBC 26222450 111183189 4.24 1.80 601588 North Star North Star 266000 931000 3.50 0.15 601600 Chalco 393130 3986343 10.14 0.53 601601 China Pacific Insurance 620829 14216978 22.90 1.96 601607 Shanghai Pharmaceuticals 82693 1806012 21.84 0.47 601618 Metallurgical Corporation of 362739 1418310 3.91 0.53 China 601628 China Life 2082353 44354119 21.30 0.88 601666 Pingdingshan Tianan Coal 181628 3830536 21.09 0.51 601668 China State Construction 1308000 4473360 3.42 1.13 601699 Lu’an Environmental Energy 115054 6861832 59.64 0.73 601727 212569 1802582 8.48 0.16 601766 China South Locomotive & 300000 2265000 7.55 0.80 Rolling Stock 601788 China Everbright Securities 109300 1634035 14.95 0.28 601808 China Oilfield Services 291047 7433335 25.54 0.42 601857 Petrochina 16152208 181227771 11.22 1.17 601866 China Shipping Container 769846 3448911 4.48 0.29

2011 Fact Book 63 Stock Market

601888 China International Travel 22000 681340 30.97 0.22 Service 601898 China Coal Energy 152533 1656512 10.86 0.54 601899 Zijin Mining 632497 5192798 8.21 1.16 601918 SDIC 185039 2599794 14.05 0.21 601919 China COSCO 747595 7027393 9.40 0.59 601939 China Construction Bank 959366 4403489 4.59 1.22 601958 Jinduicheng Molybdenum 77400 1876185 24.24 0.62 601988 Bank of China 19552491 63154544 3.23 0.62 601989 China Shipbuilding Industry 212500 2505375 11.79 0.65 601998 Citic Bank 2641771 13869296 5.25 0.33

2011 Fact Book 64

Stock Market SSE 50 Closing Index Closing 50 SSE Trends of SSE 50 Index in 2010

Turnover Volume (RMB 100 million) SSE 50 Closing Index Turnover Volume (RMB 100 million) 100 (RMB Volume Turnover

2011 Fact Book 65

Stock Market Closing Index Closing Historical Trends of SSE 50 Index

Weekly Turnover Volume (RMB 100 million) SSE 50 Closing Index Turnover Volume (RMB 100 million) 100 (RMB Volume Turnover

2011 Fact Book 66

Stock Market SSE 180 Closing Index Closing 180 SSE Trends of SSE 180 Index in 2010

Turnover Volume (RMB 100 million) SSE 180 Closing Index Turnover Volume (RMB 100 million) 100 (RMB Volume Turnover

2011 Fact Book 67

Stock Market Closing Index Closing ˅ Historical Trends of SSE 180 Index RMB 100 million ˄

Closing Index SSE 180 Weekly Turnover Volume

˅ ˄ RMB 100 million 100 RMB Volume Turnover

2011 Fact Book 68

Stock Market Closing Index Closing Trends of SSE Composite Index in 2010

Turnover Volume (RMB 100 million) SSE Closing Index Turnover Volume (RMB 100 million) 100 (RMB Volume Turnover

2011 Fact Book 69

Stock Market Closing Index Closing Historical Trends of SSE Composite Index

Weekly Turnover Volume (RMB 100 million) SSE Closing Index Turnover Volume (RMB 100 million) 100 (RMB Volume Turnover

2011 Fact Book 70 Shanghai Securities Market

2011 Fact Book 71 Shanghai Securities Market

2011 Fact Book 72 Listed Companies

Listed Companies

Issuance Conditions for IPOs

,(QWLW\TXDOL¿FDWLRQV

1. The issuer shall be a joint-stock limited company established by law and legally existing by law. When a limited liability company is lawfully converted into a joint-stock limited company pursuant to State Council approval, it may issue shares to the public by way of a public share offer. 2. Unless otherwise approved by the State Council, the issuer shall operate the joint-stock limited company for a continuous period of three years or more after its establishment. Where a limited liability company is wholly converted into a joint-stock limited company according to the original book value of its net assets, the continuous operating period shall be calculated from the date the limited liability company is established. 3. The registered capital of the issuer shall have been paid up in full, procedures for transferring the property right attached to assets used as capital contributions by the promoter or shareholders shall have been completed, and there shall be no material dispute over ownership of the issuer's major assets. 4. The business operations of the issuer shall comply with laws and administrative regulations, its articles of association, and the state's industrial policies. 5. There shall have been no significant change in the issuer's principal operations, directors and senior management and no change in its actual controller in the last three years. 6. The issuer's equity structure shall be clear and there shall be no major dispute over the ownership of shares held by the controlling shareholder, controlled shareholders and shareholders controlled by the actual controller.

II. Independence

1. The issuer shall have a complete business structure and the ability to deal directly with the market and operate independently. 2. The issuer shall maintain the integrity of its assets. Production-oriented enterprises shall have production systems, auxiliary production systems and supporting facilities related to their business operations, legally hold the ownership or use rights for land, plant, machinery, and equipment, as well as trademarks, patents, and non-patent technologies related to their business operations, and shall have an independent system for purchasing raw materials and selling products; non-production-oriented enterprises shall have a business structure and relevant assets related to their business operations. 3. The issuer shall maintain the independence of its personnel. The issuer's general manager, deputy managers, financial controller, secretary to the board of directors and other senior officers shall not serve its controlling shareholder, actual controller or other enterprises under their control in a capacity other than director or supervisor, nor draw a salary from said controlling shareholder, actual controller or other enterprises under their control; the issuer's financial staff shall not serve its controlling shareholder, actual controller or other enterprises under their control in any capacity. 4. The issuer shall maintain its financial independence. The issuer shall establish an independent financial accounting system, be able to make financial decisions independently, and have appropriate financial and accounting systems and a system for the financial management of its branches and subsidiaries; the issuer shall not use a common bank account

2011 Fact Book 73 Listed Companies

with its controlling shareholder, actual controller or any other enterprise under their control. 5. The issuer shall maintain the independence of its organizational structure. The issuer shall establish sound internal business management departments to independently exercise business management authority, and shall not combine its departments with those of its controlling shareholder, actual controller or any other enterprise under their control. 6. The issuer shall maintain the independence of its business. The issuer shall maintain its business independent of its controlling shareholder, actual controller or any other enterprise under their control, and shall not compete horizontally with or engage in any apparently unfair transaction its controlling shareholder, actual controller or any other enterprise under their control. 7. The issuer shall not suffer from any other major defect in its independence.

III. Regular operations

1. The issuer shall have lawfully established sound systems for general meetings, the board of directors, the board of supervisors, independent directors and the secretary to the board of directors so that relevant departments and personnel can perform their duties pursuant to the law. 2. The issuer's directors, supervisors and senior officers shall understand laws and regulations related to the issuance and listing of shares and shall be aware of the statutory responsibilities and obligations of a listed company and its directors, supervisors and senior officers. 3. The issuer's directors, supervisors and senior officers shall have qualifications that conform to the law, regulations and rules, and shall not be subject to any of the following circumstances: (1) Banned from access to the securities market by the China Securities Regulatory Commission (CSRC), such ban not having been lifted; (2) Subject to an administrative penalty imposed by the CSRC within the last 36 months or has publicly censured by the Stock Exchange within the last 12 months; or (3) Investigated by the judicial authorities because of a suspected criminal offence or investigated by the CSRC as a result of a suspected legal or regulatory violation, where no definitive and conclusive opinion has been issued; 4. The issuer's system of internal controls shall be sound, have been implemented effectively, and reasonably be capable of ensuring the reliability of its financial reports, the legitimacy of its business activities, and the efficiency and effects of its operations. 5. The issuer shall not be subject to any of the following circumstances: (1) Where it has issued securities to the public or in a disguised manner without the approval of the statutory authority within the last 36 months; or relevant legal violations that occurred 36 months ago are nevertheless ongoing; (2) Where it has been subject to administrative penalties within the last 36 months as a result of any violation of laws and regulations related to, among other matters, industry and commerce, taxation, land, environmental protection, and customs, and the circumstances are serious; (3) Where it has submitted an application to the CSRC within the last 36 months, but the application documents submitted included any false records, misleading statements, or material omissions; or it has obtained issuance approval by deceptive means while not meeting the issuance conditions; or it has interfered with the examination and verification work of the CSRC or its issuance examination and verification committee by improper means; or it has forged or altered the signature or seal of the issuer or the issuer's directors, supervisors or senior officers; (4) Where the issuance application documents it submits on this occasion include any false records, misleading

2011 Fact Book 74 Listed Companies statements, or material omissions; (5) Where it has been investigated by the judicial authorities because of a suspected criminal offence and no definite and conclusive opinion has been issued; or (6) Any other circumstances in which investors' lawful rights and interests and the public interest are seriously damaged. 6. The issuer's articles of association shall specify the limits of authority for the examination and approval of external guarantees and deliberation procedures for external guarantees, and no guarantee shall be improperly provided for its controlling shareholder, actual controller or any other enterprise under their control.

7. The issuer shall have a strict fund management system and shall not have funds used by its controlling shareholder, actual controller or any other enterprise under their control in the name of borrowings, debt repayments, advance payments or any other means.

IV. Finance & accounting

1. The issuer shall have good quality assets, a reasonable asset-liability structure, strong profitability, and normal cash flows.

2. The issuer's internal controls shall be effective in all material respects and the issuer shall have obtained an unqualified internal control certification report issued by a certified public accountant (CPA).

3. The issuer's basic accounting work and the preparation of its financial statements shall comply with the Accounting Standards for Business Enterprises and the Accounting Systems for Business Enterprises, and shall fairly reflect in all material respects its financial position, the results of operations and cash flows, and the issuer shall have obtained an unqualified audit report issued by a CPA.

4. The issuer shall prepare financial statements on the basis of transactions or events which have actually occurred; when confirming, measuring or submitting accounting records, it shall exercise due prudence; for the same or similar businesses, it shall select the same accounting policy and shall not change it randomly.

5. The issuer shall fully disclose relationships with associated parties and appropriately disclose associated relationships based on the principle of importance. The pricing of associated transactions shall be fair and profits shall not be manipulated through associated transactions.

6. The issuer shall meet the following conditions: (1) Its net profit has been positive for the last three financial years, with the aggregate amount exceeding RMB 30 million, and net profits shall have been calculated as the lower of the amounts before and after deducting non-recurring losses and profits; (2) Its cumulative net cash flows from business activities for the last three financial years exceed RMB 50 million; or cumulative business income for the last three years exceeds RMB 300 million; (3) Its total stock capital before issuance is no less than RMB 30 million;

2011 Fact Book 75 Listed Companies

(4) Its intangible assets (excluding land use rights, marine cultivation rights and mining rights, etc.) do not exceed 20% of net assets at the end of the latest period; and (5) No loss has not been made up for in the latest period.

7. The issuer shall pay tax in accordance with the law and enjoy various tax concessions in accordance with the provisions of relevant laws and regulations. The issuer's business results shall not be heavily reliant on tax concessions.

8. The issuer shall not be subject to any major debt repayment risk or major contingent event such as a guarantee, lawsuit or arbitration proceedings which will adversely affect its continuing operations.

9. The application documents the issuer submits shall not involve any of the following circumstances: (1) Deliberately omitting or fabricating transactions, events or other important information; (2) Misusing accounting policies or accounting estimates; or (3) Manipulating, forging or tampering with accounting records or relevant vouchers on which financial statements are based.

10. The issuer shall not be subject to any of the following circumstances which adversely affect its ongoing profitability: (1) Where there have been or will be significant changes in the issuer's business model and the variety and structure of its products or services which will have a material adverse impact on the ongoing profitability of the issuer; (2) Where there have been or will be significant changes in the issuer's position in the industry in which it operates or the business environment of such industry which will have a material adverse impact on the ongoing profitability of the issuer; (3) Where the issuer's business income or net profit for the latest financial year was heavily reliant on any associated party or client for which a material degree of uncertainty exists; (4) Where the issuer's net profit for the latest financial year was mainly derived from investment income outside the scope of the consolidated financial statements; (5) Where there is any risk of a material adverse change in the acquisition or use of major assets or technologies used by the issuer such as trademarks, patents, proprietary techniques and franchise rights; or (6) Any other circumstances likely to have a material adverse impact on the ongoing profitability of the issuer.

V. Use of funds raised

1. The funds raised shall be used for clear purposes and shall in principle be used in the issuer's main business. Other than for financial enterprises, the funds raised shall not be used as held-for-trading financial assets or available-for-sale financial assets, or for lending to others, third party managed investments or other financial investments, and shall not be directly or indirectly invested in companies mainly engaged in the trading of securities.

2. The amount of funds raised and investment projects shall be commensurate with the issuer's current scale of business operations, financial position, technical standards and management competence, etc.

3. Investment projects for which the funds raised are used shall comply with the state's industrial policies and with laws, regulations and rules governing, among other matters, investment management, environmental protection, and land management.

2011 Fact Book 76 Listed Companies

4. The issuer's board of directors shall carry out a detailed study on the feasibility of projects for which the funds raised are to be used to ensure that such projects have good prospects and will be profitable, as well as to effectively guard against investment risk and increase the efficiency with which the funds raised are utilized. 5. Projects for which the funds raised are used shall not, when implemented, result in horizontal competition or have any adverse impact on the independence of the issuer.

6. The issuer shall establish a special reserve regime for the funds raised, which shall be deposited in a special account determined by the board of directors.

Listing Conditions for IPOs

If the issuer applies to list its shares on the SSE after making an IPO, it shall meet the following conditions: 1. Its shares have been issued to the public pursuant to CSRC approval; 2. Its total capital stock is no less than RMB 50 million; 3. Its publicly issued shares account for no less than 25% of its total shares; where its total capital stock is more than RMB 400 million, its publicly issued shares shall account for no less than 10% of its total shares; 4. It has no record of major legal violations within the last three years and its financial and accounting reports do not contain any false records; and 5. Other conditions required by the Exchange.

SSE Guide to Securities Listing Procedures

The term “securities” refers to stock, corporate bonds, or convertible corporate bonds (including separately traded convertible corporate bonds, hereinafter referred to as convertible bonds) and other negotiable securities. 1. After the securities issuance application has been approved by the CSRC issuance examination and verification committee, the issuer and its sponsor and managing underwriter shall promptly contact the issuance and listing department or the bond funding department of the SSE to apply for a securities code and a securities trading abbreviation and communicate over matters relating to securities issuance and a listing application. 2. After obtaining approval documents from the CSRC for the securities issuance application, the issuer and its managing underwriter shall promptly contact the SSE to submit an issuance program and an issuance plan. 3. If the issuer issues securities to the public and applies to list them on the trading market of the SSE, it shall disclose its issue announcement, the full text of its prospectus (letter of intention to offer shares, offering prospectus), inspection documents and appendices thereto (hereinafter referred to as the “relevant documents”) on the SSE website and be responsible for their content. 4. The issuer and its managing underwriter shall, before 16:00 (14:00 in the case of a corporate bond issue) on the working day immediately before the day on which they intend to disclose the issue announcement, the full text of the prospectus (letter of intention to offer shares, offering prospectus) and the relevant documents, and submit the following materials to the Exchange: (1) CSRC documents approving the public issuance of securities; (2) The issuer's application to issue securities through the SSE system; (3) The issue announcement and the full text of the prospectus (letter of intention to offer shares, offering prospectus) and the relevant documents; (4) The issuer and its managing underwriter's letter of confirmation guaranteeing consistency between the electronic

2011 Fact Book 77 Listed Companies

and written versions of the issue announcement, the full text of the prospectus (letter of intention to offer shares, offering prospectus) and the relevant documents, and assuming full responsibility for the same; and (5) Other documents required by the SSE. Where special circumstances prevent the relevant documents from being submitted on schedule in accordance with the foregoing requirements, an application shall be submitted to the SSE half an hour prior to the deadline for submission of relevant materials. 5. The issuer and its managing underwriter shall ensure the accuracy and completeness of issuance data included in relevant materials submitted to the Exchange. Issuance data include the issue price, the number of shares to be issued, the time of issuance, the subscription code, the placement ratio, the trading unit of the managing underwriter, the securities account number of the managing underwriter, and other relevant data. 6. Unless otherwise approved by the SSE, for IPOs, public issues of additional shares, or public issues of convertible bonds, the online issuance period shall not exceed one trading day, the offline issuance period shall not exceed two trading days, and the rights issuance period shall not exceed five trading days. During the online issuance period for an IPO, public issues of additional shares, or public issues of convertible bonds, the managing underwriter may, after the market close on T date (the online issuance date), apply to the SSE to inquire about the preliminary results of subscriptions for shares issued online. Where shares and convertible bonds of a listed company are placed with existing shareholders, its managing underwriter may, after the market close on the first day immediately following T date, independently inquire about the number of shares validly placed with existing shareholders through its securities account.

7. Unless otherwise approved by the SSE, the offline issuance period for corporate bonds shall not exceed five trading days. The deadline for offline issuance shall be at least two trading days later than the online issuance deadline. During the online issuance period for corporate bonds, the SSE will, through its existing A-share real-time transaction data interface, submit transaction data for the online issuance of corporate bonds to the Shanghai branch of China Securities Depository and Clearing Corporation Limited. The Shanghai branch of China Securities Depository and Clearing Corporation Limited shall conduct clearing operations at the end of each trading day. Registration results for valid subscriptions may be checked at the end of the next trading day or on the second trading day for such subscriptions. The securities code for registration data shall be the securities code for the corporate bonds issued online on this occasion. Before 10:30 on the trading day immediately after the offline issuance deadline, the managing underwriter shall submit sales registration data to the bond funding department of the Exchange. 8. When making an IPO, the managing underwriter shall, before 11:00 on the first day immediately after T date, submit tables for online and offline placements for which capital verification has not been undertaken to the SSE as required; when issuing additional shares and convertible bonds to the public, it shall, before 16:00 on the first day immediately after T date, submit tables for online and offline placements for which capital verification has not been undertaken to the SSE as required. Where the capital verification process indicates no abnormalities, the managing underwriter shall not adjust the online and offline placement tables submitted; where any abnormality arises in the course of capital verification, the managing underwriter may, according to the capital verification circumstances, adjust the online and offline placement tables submitted, and shall immediately take action to coordinate and deal with any such abnormality and promptly report the results to the SSE. Where the managing underwriter adjusts the online and offline placement tables when making an IPO, it shall, before 17:00 on the first day immediately after T date, submit the adjusted online and offline placement tables to the SSE as

2011 Fact Book 78 Listed Companies required; where the managing underwriter adjusts online and offline placement tables when issuing additional shares or convertible bonds to the public, it shall, before 11:00 on the second day immediately after T date, submit the adjusted online and offline placement tables to the SSE as required. 9. During the securities issuance period, the managing underwriter shall, at 16:00 on the same day, submit to the SSE all announcements to be disclosed on the following day. After receiving confirmation from the Exchange, the issuer and its managing underwriter shall contact the designated disclosure media outlets and the SSE website to confirm the release of such announcements. Where special circumstances prevent such announcements from being submitted before 16:00, an application must be submitted to the SSE half an hour before the deadline. 10. When underwriting securities, the managing underwriter shall fully disclose the subscription time and subscription procedures to price inquiry agencies and other investors. Price inquiry agencies and other investors shall not increase, reduce or modify quotation or subscription data beyond the subscription time and subscription procedures specified or announced, and the issuer and the managing underwriter shall not assist price inquiry agencies and other investors in increasing, reducing or modifying quotation or subscription data beyond the subscription time and subscription procedures specified or announced. 11. After a securities issue is completed, the issuer and its sponsor and managing underwriter shall, in accordance with the requirements of the Share Listing Rules of the Shanghai Stock Exchange, promptly prepare and submit securities listing application documents. 12. Where shares or convertible bonds meet listing conditions, the period from the day on which their issuance is completed to L date (L date is the day on which securities are listed) shall not exceed seven trading days. Where corporate bonds meet listing conditions, the SSE will coordinate and make arrangements for the listing date after receiving the issuer's registration and custody evidential documents. The SSE may adjust the securities listing date according to market conditions. The day on which an IPO, a public issue of additional shares, or a public issue of convertible corporate bonds is completed shall be the day on which successful subscription results are announced. The day on which a rights issue is completed shall be the ex-rights trading day. 13. Listing application documents for an IPO or ordinary convertible corporate bonds (see documents to be submitted when applying for an IPO and listing below) shall be submitted to the SSE before 16:00 on the fourth day before L date. Listing application documents for a public issue of additional shares or a rights issue shall be submitted to the SSE before 16:00 on the third day before L date. Listing application documents for corporate bonds in existence after separately traded convertible corporate bonds are split and listing application documents for warrants in existence after such a split shall be submitted to the listing department of the SSE as required before 16:00 on the fifth day before L date. Listing application documents for warrants in existence after the split shall also be submitted to the management department of the SSE for the record. 14. The issuer, the sponsor and the managing underwriter shall ensure the accuracy and completeness of securities listing data included in the listing application materials submitted to the Exchange. Securities listing data include the issue price (or the opening reference price on the first listing day), the number of shares to be listed, the time of listing, the securities code, the capital stock structure, and other relevant data. 15. The listing committee of the SSE shall examine matters relating to the initial listing of shares and corporate bonds. The SSE will, according to the examination opinions of the listing committee, decide whether or not to approve the listing application. 16. Where the issuer's securities listing application is approved after being examined by the Exchange, the issuer shall disclose listing announcements prepared in accordance with relevant requirements and other documents required

2011 Fact Book 79 Listed Companies

by the SSE on the SSE website, and shall be responsible for their content. 17. Before securities are initially listed, the issuer shall, in accordance with the relevant requirements of the Administrative Measures of the China Securities Regulatory Commission for International Securities Identification Numbers, apply for an ISIN code for the newly listed securities through the SSE website.

18. Listing of securities

Documents to Be Submitted When Applying for an IPO and Listing The issuer and its sponsor shall, before applying for shares to be listed, submit the following documents to the issuance and listing department of the Shanghai Stock Exchange: 1. A share listing application; 2. China Securities Regulatory Commission documents approving the initial listing of the issuer's shares; 3. Resolutions of the board of directors and the shareholders' meeting related to the issuance and listing of the issuer's shares; 4. A photocopy of the issuer's business licenses; 5. The issuer's articles of association; 6. The issuer's financial and accounting reports for the last three years lawfully audited by an accounting firm qualified to engage in relevant securities and futures business; 7. Documents proving that all the issuer's shares were in the custody of the Shanghai branch of China Securities Depository and Clearing Corporation Limited after the IPO was completed; 8. A capital verification report issued by an accounting firm qualified to engage in relevant securities and futures business after the IPO was completed; 9. A detailed description of shares in the issuer held by the directors, supervisors and senior officers and statements and letters of commitment from the directors (supervisors and senior officers); 10. Relevant details on the secretary to the board of directors to be employed or already employed by the issuer; 11. A description of financial materials newly added pursuant to applicable provisions and major matters of relevance to have occurred after the IPO and before the listing; 12. Letters of commitment as specified in Articles 5.1.4 and 5.1.5 of the Share Listing Rules of the Shanghai Stock Exchange; 13. The latest prospectus and the full set of issuance application materials examined and approved by the CSRC; 14.A listing announcement prepared in accordance with the Guide to the Content and Format of Share Listing Announcements of the Shanghai Stock Exchange; 15. The sponsor agreement; 16. The listing sponsor letter issued by the sponsor; 17. The legal opinions issued by law firms; and 18. Other documents required by the Exchange.

Conditions for listed companies to issue securities to the public

To issue securities to the public, a listed company shall first meet the following general provisions: I. The listed company shall have a complete and well-operated organization, sound operations, and meet the following requirements:

2011 Fact Book 80 Listed Companies

1. It has legally valid articles of association and a sound system for shareholders' meetings, the board of directors, the board of supervisors, independent directors which are able to perform their duties effectively in accordance with the law; 2. It has a sound system of internal controls, is able to effectively guarantee the efficiency of its operations, its compliance with laws and regulations, and the reliability of its financial reports; there is no material defect in terms of the completeness, reasonableness and effectiveness of its system of internal controls; 3. Its current directors, supervisors and senior officers have the corresponding qualifications, are able to perform their duties with loyalty and diligence, have not violated the provisions of Articles 148 and 149 of the Company Law, have not been subject to administrative penalties by the CSRC within the last 36 months, and have not been publicly censured by a stock exchange within the last 12 months; 4. The listed company is separate from its controlling shareholder or actual controller in terms of personnel, assets and finance, has an independent structure and business, and is able to manage its business independently; and 5. It has not provided an improper external guarantee within the last 12 months.

II. The listed company shall be profitable on an ongoing basis and meet the following provisions: 1. It has been profitable for the last three financial years; the lower of net profit before or after non-recurring losses and profits shall be used as the basis for calculation; 2. Its business and profit sources are relatively stable and do not rely heavily on its controlling shareholder or actual controller; 3. Its current main business or investment directions can be developed sustainably, its business model and investment plan are prudent, its main products or services have good market prospects, and no substantial adverse change in the industry business environment or market demand is either currently in existence or foreseeable; 4. Its senior officers and core technical staff are stable and have not undergone any substantial adverse change within the last 12 months; 5. Its major assets, core technologies and other substantial rights and interests have been obtained legally and can be used sustainably without any substantial adverse change either currently in existence or foreseeable; 6. It is not affected by any guarantee, litigation, arbitration or other major event likely to materially affect its continuing operation; and 7. Where it has issued securities to the public within the last 24 months, its business profit in the year in which the securities were issued was more than 50% lower than in the previous year.

III. The listed company shall have sound finances and meet the following provisions: 1. Its basic accounting work is up to standard and strictly complies with the state's uniform accounting rules; 2. No certified public accountant has issued a qualified opinion, an adverse opinion or a opinion disclaimer in audit reports for the last three years or on the latest financial statements. Where explanatory paragraphs are attached to unqualified audit reports, the matters covered in the explanatory paragraphs have had no major adverse impact on the issuer, or the major adverse impact has been eliminated before the issue; Its assets are of sound quality. Non-performing assets shall not have a major adverse impact on the financial status of the company; Its business results are genuine and cash flows are normal. Confirmation of business income and costs and expenses shall strictly comply with the provisions of relevant state accounting rules, and impairment provisions incurred in the last three years shall be sufficient and reasonable, without any manipulation of business results; and 5. Cumulative profits distributed in the last three years in cash or stock represent no less than 20 percent of annual

2011 Fact Book 81 Listed Companies

distributable profits realized the last three years.

IV. The listed company's financial statements for the last 36 months shall contain no false records, and none of the following major unlawful acts shall have occurred: 1. Violations of laws, administrative rules and regulations on securities that have subjected the company to administrative penalties or criminal penalties; Violations of laws, administrative rules and regulations on industry and commerce, taxation, land, environmental protection or customs that have subjected the company to administrative penalties and the circumstances of which have been serious, or have subjected the company to criminal penalties; and 3. Violations of other laws, administrative rules and regulations in which the circumstances have been serious.

V.The amount of funds raised by listed companies and the use of such funds shall meet the following provisions: 1. The amount of funds raised shall not exceed what is needed for the proposed projects; 2. The funds raised shall be used for purposes that comply with national industrial policies and provisions of laws and administrative rules concerning environmental protection and land administration; 3. Other than for financial enterprises, the funds raised on this occasion cannot be held for trading financial assets or available for sale financial assets, lending to others, investments managed by third parties, or other financial investments; nor can they be invested directly or indirectly in companies mainly engaged in the trading of securities; 4. The investment projects, when implemented, will not result in horizontal competition with the controlling shareholder(s) or the actual controller(s), nor affect the independence of the company's production and operating activities; and 5. A special reserve regime must be established for the funds raised, which shall be deposited in a special account determined by the company's board of directors.

VI. The listed company shall be barred from offering securities to the public under any of the following circumstances: 1. The current application documents include any false records, misleading statements or major omissions; 2. The purposes for which funds raised in the previous public offer of securities have been used have been altered without authorization and such conduct has not been redressed; 3. The listed company has been subject to a public censure from a stock exchange within the last 12 months; 4. The listed company and its controlling shareholders or actual controllers have engaged in acts that have not honored undertakings made to investors within the last 12 months; 5. The listed company or its incumbent directors or senior managers have been investigated by the judicial authorities for suspected criminal offences or investigated by the CSRC for suspected violations of laws or regulations; and 6. Other circumstances where the lawful rights and interests of investors and the public interest have been seriously infringed.

Share Placements of Listed Company

Share placements to existing shareholders (hereinafter referred to as “share placements”) shall, in addition to complying with the preceding general provisions, also comply with the following provisions: 1. The number of shares to be placed shall not exceed 30 percent of the total value of capital stock before the current placement;

2011 Fact Book 82 Listed Companies

2. Controlling shareholders shall make a public commitment on the number of shares to which they will subscribe before the general meeting of shareholders is convened; and 3. They shall be sold by proxy as stipulated by the Securities Law. Where the controlling shareholders fail to honor their share subscription commitments, or where the proxy sale period expires but the amount of shares subscribed for by existing shareholders has not reached 70 percent of the shares to be placed, the issuer shall give refunds to shareholders who have already subscribed according to the issue price plus interest calculated at the bank deposit rate for the corresponding period.

Additional Issuance by Listed Companies

In a public offer of shares to unspecified targets (hereinafter referred to as an “additional issue”), in addition to the preceding general provisions, the following provisions must also be complied with: 1. The average annual weighted net return on assets in the last three fiscal years shall be no less than 6 percent. Net profits before or after deducting non-recurring profits and losses, whichever the lower, shall serve as the basis for calculating the average weighted net return on assets; 2. Other than for financial enterprises, no significant amount shall have been held for trading financial assets or available for sale financial assets, funds for lending to others, investments managed by third parties, or other financial investments at the end of the latest accounting period; and 3. The issue price shall be no lower than the average price of the company's shares in the 20 trading days before publication of the offering prospectus or than the average price on the previous trading day.

Special Treatment

If a listed company is subject to abnormal financial conditions or other abnormal circumstances, thereby causing a risk that the company will have its share listing terminated or making it difficult for investors to assess the prospects of the company and potentially damaging their investment interests, a special treatment shall be implemented against trading in the company's shares. Special treatments are divided into listing termination risk warnings (hereinafter referred to as “delisting risk warnings”) and other special treatments. The disposition measures for delisting risk warnings include the following: 1. Indicating “*ST” before the abbreviation for the shares of the company to distinguish them from other shares; and 2. Limiting daily rises and falls in share quotations to 5%. Other special treatment measures include the following: 1. Indicating “*ST” before the abbreviation for the shares of the company to distinguish them from other shares; and 2. Limiting daily rises and falls in shares quotations to 5%. If any of the following circumstances apply to a listed company, a delisting risk warning shall be implemented for trading in the shares of the company: 1. Where the company has incurred losses in each of the last two years (based on the annually audited net profits disclosed in the two latest annual reports): 2. Where the financial and accounting reports of the company contain significant accounting errors or false records and are corrected by the company on its own initiative or the CSRC orders the company to rectify the same so its financial and accounting reports for previous years are adjusted retroactively, resulting in losses for the last two years;

2011 Fact Book 83 Listed Companies

3. Where the financial and accounting reports of the company contain significant accounting errors or false records and the CSRC orders the company to rectify the same, but the company fails to do so within the prescribed time limit and the shares of the company have been suspended from trading for two months; 4. Where the company fails to disclose its annual report or interim report within the statutory time limit and the shares of the company have been suspended for two months; 5. Where the company may be dissolved; 6. Where the people's court has heard a case concerning the bankruptcy of the company and the company is likely to be declared bankrupt according to law; or 7. Other circumstances determined by the SSE in which the risk of delisting exists.

If any of the following circumstances apply to a listed company, other special treatments shall be implemented delisting in the shares of the company:

1. Where the auditing results for the latest fiscal year show that shareholders equity is negative; 2. Where an accounting firm issues an audit report in which an opinion disclaimer or a negative opinion is given in relation to the financial and accounting reports for the latest fiscal year; 3. Where, for a company for which a delisting risk warning has been removed as result of the elimination of ongoing losses, the auditing results for the latest fiscal year show that its main business has not operated normally, or the net profit after deducting non-recurring losses and profits is negative; 4. Where a natural disaster or significant accident results in the production and business activities of the company being seriously affected and it is predicted they will not return to normal within three months; 5. Where the company's main bank accounts are frozen; 6. Where the company's board of directors is unable to convene meetings as normal and make resolutions; 7. Where the CSRC requests that the SSE issues a special notice on trading in the shares of the company pursuant to the relevant provisions of the Interim Measures for the Sponsorship System for the Issuance and Listing of Securities; or 8. Other circumstances determined by the CSRC and the SSE. After circumstances resulting in a special disposition against the listed company are eliminated, the listed company may apply to the Stock Exchange to have the special disposition removed.

Suspension and Termination of Listing

If any of the following circumstances apply to a listed company, the company's share listing shall be suspended: 1. Where, after a delisting risk warning is implemented against trading in the company's shares due to losses in two consecutive years (including retroactive adjustments), the company suffers a loss in the next fiscal year; 2. Where, after a delisting risk warning is implemented against trading in the company's shares due to the company's failure to correct material accounting errors or false records in its financial reports within the time limit specified, the company still fails to correct its financial and accounting reports as required within two months; 3. Where, after a delisting risk warning is implemented against trading in the company's shares due to the company's failure to disclose its annual report or interim report within the statutory period, the company still fails to disclose its annual report or interim report within two months; 4. Where the total share capital or shareholding distribution of the company has been changed so that the company

2011 Fact Book 84 Listed Companies no longer meets the listing conditions; 5. Where the company has committed a major illegal act; or 6. Other circumstances determined by the SSE. If any of the following circumstances apply to a listed company, the company's share listing shall be terminated: 1. Where it fails to disclose its latest audited annual report within the statutory time limit after the company's share listing has been suspended due to circumstances described in Article 1 above; 2. Where, after the company's share listing is suspended due to circumstances described in Article 1 above, the latest audited annual report disclosed by the company within the statutory time limit shows that the company suffered a loss; 3. Where, after the company's share listing is suspended due to circumstances described in Article 1 above, the company discloses its latest audited annual report within the statutory time limit but fails to apply for its listing to be resumed within the following five trading days; 4. Where the application for the resumption of listing is not entertained; 5. Where the application for the resumption of listing is not approved; 6. Where the general meeting of shareholders makes a resolution on the termination of its share listing when the company's share listing is suspended; 7. Where, after the company's share listing is suspended due to circumstances described in Article 2 above, the company still fails to correct its financial and accounting reports as required within two months or has disclosed financial and accounting reports corrected as required within two months but fails to apply for its listing to be resumed within the following five trading days; 8. Where, after the company's share listing is suspended due to circumstances described in Article 3 above, the company still fails to disclose the relevant annual report or interim report within two months or has disclosed the relevant annual report or interim report within two months but fails to apply for its listing to be resumed within the following five trading days; 9. Where the company no longer meets the listing conditions due to a change in its total share capital or its shareholding distribution and still fails to meet the listing conditions within the time limit prescribed by the SSE; 10. Where the listed company or a purchaser repurchases shares or makes a takeover offer for the purpose of terminating the share listing and, after implementing the scheme, the total share capital or shareholding distribution of the company has been changed such that the company no longer meets the listing conditions and the company applies to the SSE for its listing to be resumed; 11. Where the company is dissolved or declared bankrupt; or 12. Other circumstances determined by the SSE. The listed company expert committee of the SSE shall, in accordance with relevant CSRC provisions, examine matters involving the termination of company share listings and form opinions thereon, and the SSE shall decide whether or not to terminate share listings based on the opinions of the expert committee. If a listed company is subject to any of other circumstances resulting in the termination of its listing, the SSE shall terminate its share listing based on the decision of the CSRC.

Listing Agreements

Any company that applies for its shares or derivatives to be listed and traded on the SSE shall be examined and approved by the SSE and shall sign a listing agreement with the SSE before the listing takes effect to define the rights and obligations of both parties and other relevant matters.

2011 Fact Book 85 Listed Companies

Listing Conditions for Convertible Corporate Bonds

Any listed company that applies for its convertible corporate bonds to be listed on the SSE shall comply with the following conditions: 1. The term of the convertible corporate bonds shall be no less than one year; 2. The value of convertible corporate bonds to be issued shall be no less than RMB 50 million; and 3. The statutory conditions for the issuance of corporate bonds shall still be met at the time of the listing application.

Listing Conditions for Warrants

If the target securities for warrants for which a listing application is made to the SSE are shares, the target shares shall meet the following conditions on the day of the listing application: 1. The market capitalization of outstanding shares has been less than RMB 3 billion within the last 20 trading days; 2. The cumulative turnover rate for transactions in shares in the last 60 trading days is less than 25%; 3. Tradable share capital is no less than 300 million; 4. Other conditions determined by the SSE. If the target securities are other securities, the SSE shall make separate provisions for their eligibility and conditions.

Warrants for which a listing application is made to the SSE shall meet the following conditions: 1. The type of warrants, exercise price, valid term, date of exercise, exercise settlement method, exercise ratio and other elements have been agreed; 2. The number of warrants for which the listing application is made is no less than 50 million; 3. No fewer than 100 investors hold more than 1000 warrants; 4. The valid term of the warrants is between 6 months and 24 months from the date of listing; 5. The issuer has provided the performance guarantee specified in Article 11 of these Measures; and 6. Other conditions determined by the SSE.

2011 Fact Book 86 Listed Companies

Number and Sector Distribution of Listed Companies

Year Industrial Commercial Real Estate Public Utilities Conglomerates Total

1991 3 2 0 0 3 8

1992 20 3 1 1 4 29

1993 63 14 8 11 10 106

1994 93 34 9 15 20 171

1995 109 34 9 12 24 188

1996 164 46 9 22 52 293

1997 218 50 9 33 73 383

1998 257 49 9 38 85 438

1999 291 49 9 39 96 484

2000 347 54 9 50 112 572

2001 402 56 13 59 116 646

2002 451 60 15 67 122 715

2003 505 60 15 72 128 780

2004 546 59 17 82 133 837

2005 544 58 17 83 132 834

2006 544 58 19 88 133 842

2007 545 58 24 90 143 860

2008 547 58 24 91 144 864

2009 549 57 25 91 148 870

2010 559 57 25 93 160 894

2011 Fact Book 87 Listed Companies

Geographical Distribution of Listed Companies

Region Number of Listed Companies Percentage (%) New Listings in 2010 Percentage (%) Anhui 29 3.24 1 3.85 Beijing 88 9.84 6 23.08 Fujian 31 3.47 2 7.69 Gansu 10 1.12 0 0.00 Guangdong 39 4.36 0 0.00 Guangxi 11 1.23 0 0.00 Guizhou 9 1.01 0 0.00 Hainan 7 0.78 0 0.00 17 1.90 1 3.85 Henan 21 2.35 1 3.85 Heilongjiang 22 2.46 1 3.85 Hubei 35 3.91 1 3.85 Hunan 19 2.13 1 3.85 Jilin 17 1.90 0 0.00 Jiangsu 66 7.38 2 7.69 Jiangxi 16 1.79 0 0.00 Liaoning 27 3.02 1 3.85 Inner Mongolia 15 1.68 0 0.00 Ningxia 4 0.45 0 0.00 Qinghai 6 0.67 0 0.00 Shandong 49 5.48 1 3.85 Shanxi 17 1.90 0 0.00 Shaanxi 17 1.90 2 7.69 Shanghai 148 16.55 0 0.00 Sichuan 33 3.69 1 3.85 Tianjin 17 1.90 0 0.00 Tibet 6 0.67 0 0.00 Xinjiang 21 2.35 0 0.00 Yunnan 13 1.45 0 0.00 Zhejiang 67 7.49 3 11.54 Chongqing 17 1.90 2 7.69

2011 Fact Book 88 Listed Companies

Newly Listed Stocks in 2010

Issue Price Opening Price Closing Price Stock Code Short Name Sector Listing Date (RMB) (RMB) (RMB) 600998 Jointown Conglomerates 13.000 2010-11-2 18.250 18.980 Pharmaceutical 601000 Port Conglomerates 8.200 2010-7-5 8.000 7.880 601018 Ningbo Port Conglomerates 3.700 2010-9-28 3.720 3.570 601098 Central South Publishing Conglomerates 10.660 2010-10-28 14.030 13.800 & Media 601101 Haohua Energy Industrial 29.800 2010-3-31 41.000 38.960 601106 China First Heavy Industrial 5.700 2010-2-9 5.480 5.520 Industries 601117 China National Chemical Conglomerates 5.430 2010-1-7 5.760 5.750 601126 Sifang Automation Industrial 23.000 2010-12-31 28.220 31.110 601158 Chongqing Water Public utilities 6.980 2010-3-29 10.990 12.100 601177 Advance Industrial 8.290 2010-10-11 15.880 18.060 Gearbox 601179 China XD Electric Industrial 7.900 2010-1-28 8.020 7.790 601268 Erzhong Group Deyang Industrial 8.500 2010-2-2 8.500 8.150 Heavy Industries 601288 Agricultural Bank of Conglomerates 2.680 2010-7-15 2.740 2.700 China 601369 Xi'an Shangu Dynamic Industrial 15.500 2010-4-28 18.120 19.270 601377 Industrial Securities Conglomerates 10.000 2010-10-13 14.660 14.860 601678 Befar Group Industrial 19.000 2010-2-23 19.200 22.140 601688 Huatai Securities Conglomerates 20.000 2010-2-26 21.010 21.060 601717 Coal Mining Industrial 20.000 2010-8-3 28.800 31.440 Machinery 601718 Jihua Group Conglomerates 3.500 2010-8-16 5.800 6.170 601777 Lifan Industry Industrial 14.500 2010-11-25 19.900 17.870 601801 Anhui Xinhua Media Conglomerates 11.800 2010-1-18 20.000 17.630 601818 Everbright Bank Conglomerates 3.100 2010-8-18 3.370 3.660 601877 CHINT Electrics Industrial 23.980 2010-1-21 26.510 28.830 601880 Dalian Port Public utilities 3.800 2010-12-6 4.590 5.240 601890 Asian Star Anchor Chain Industrial 22.500 2010-12-28 26.000 23.980 601933 Yonghui Superstores Conglomerates 23.980 2010-12-15 32.030 32.290

2011 Fact Book 89 Listed Companies Lead Underwriter Guosen Securities Co.,Ltd. Ltd. Securities Co. (China) Limited BOC International (China) Limited International Company Limited (China) Limited China Securities Co., Ltd. ,ltd. Gf Securities Co. Company Limited Ltd Date of Publication Prospectus 15 11 18 16 Issuing Date Listing Date (times) P/E Ratio 10,000) Proceeds (RMB Lottery Success Rate (%) Price Issue (RMB) shares) Issued (10,000 Volume of Shares Volume 20000.00200000.00 8.20 1.13 3.7039800.00 1.71 164000.00 10.6611000.00 0.88 740000.00 32.67 29.80 29.30 424268.00 2010-6-18200000.00 0.97 2010-7-5 41.22 2010-9-14 5.70 2010-6-3 2010-9-28 327800.00 Wanguo Shenyin & 123300.00 2010-9-3 4.98 2010-10-20 2010-10-28 BOC International 28.93 2010-10- 5.438200.00 1140000.00 1.68 2010-3-23 41.2250000.00 2010-3-31 23.00 2010-3-12 669519.00 0.63 CITIC Securities 2010-2-110100.00 6.98 45.25 2010-2-9 1.50 188600.00 8.29 2010-1-22 BOC International 2009-12-25 77.49 0.67 2010-1-7 349000.00 2009-12- 34.90 2010-12-24 83729.00 2010-12-31 2010-12- 2010-3-16 43.86 2010-3-29 2010-3-5 2010-9-27 China Galaxy Securities 2010-10-11 2010-9-10 Cinda Securities Co. 15000.00 13.00 0.64 195000.00 65.00 2010-10-25 2010-11-2 2010-10- and online fixed and online fixed Offline price inquiry and online fixed and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Publishing & Media Heavy Industries Chemical Automation Water Advance Gearbox Pharm aceutical Stock Code Short Name Method of Issuance 601000 Port Tangshan Offline price inquiry 601018 Ningbo Port601098 Offline price inquiry Central South 601101 Haohua Energy Offline price inquiry 601106 China First 601117 China National 601126 Sifang 601158 Chongqing 601177 Hangzhou 600998 Jointown Newly Listed Companies in 2010

2011 Fact Book 90 Listed Companies Guotai Junan Securities Co.Ltd., Capital Corporation Limited Guoyuan Securities Ltd Co., Guotai Junan Securities Co.Ltd., Company Limited International Company Limited Ltd. Co.,Ltd. Company Limited Capital Corporation Limited Capital Corporation Limited Co., Ltd. Co., Capital Corporation Limited 31 25 2010-11-25 2010-11-5 10500.00 23.98 1.25 251790.00 61.49 2010-1-11 2010-1-21 2009-12- 700000.00 3.10 3.63 2170000.00 16.40 2010-8-10 2010-8-18 2010-7-30 China International 11000.00 11.80 0.69 129800.00 42.56 2010-1-5 2010-1-18 2009-12- 20000.00 14.50 0.71 290000.00 45.31 2010-11-15 115700.00 3.50 1.96 404950.00 30.53 2010-8-4 2010-8-16 2010-7-23 UBS Securities 14000.00 20.00 2.13 280000.00 22.56 2010-7-20 2010-8-3 2010-7-9 CITIC Securities 78456.00 20.00 14.43 1569122.55 29.41 2010-2-9 2010-2-26 2010-2-2 Haitong Securities Co., 11000.00 19.00 2.48 209000.00 38.00 2010-2-8 2010-2-23 2010-1-29 Guosen Securities 26300.00 10.00 2.43 263000.00 19.55 2010-9-27 2010-10-13 2010-9-14 UBS Securities 10925.00 15.50 1.04 169339.59 40.22 2010-4-15 2010-4-28 2010-4-2 China International 2557059.00 2.68 9.29 6852917.58 14.43 2010-7-6 2010-7-15 2010-6-17 China International 30000.00 8.50 0.51 255000.00 40.48 2010-1-22 2010-2-2 2010-1-15 Securities HongYuan 130700.00 7.90 2.08 1032530.00 34.17 2010-1-19 2010-1-28 2010-1-8 China International and online fixed and online fixed Offline price inquiry and online fixed and online fixed and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Offline price inquiry and online fixed Media Coal Mining Machinery Securities Securities Dynamic Bank of China Deyang Heavy Industries Electric 601877 CHINT Electrics Offline price inquiry 601818 Everbright Bank Offline price inquiry 601801 Anhui Xinhua 601777 Lifan Industry Offline price inquiry 601718 Jihua Group Offline price inquiry 601717 Zhengzhou 601688 Huatai 601678 Befar Group Offline price inquiry 601377 Industrial 601369 Xi'an Shangu 601288 Agricultural 601268 Erzhong Group 601179 China XD

2011 Fact Book 91 Listed Companies CITIC Securities International Company Limited Co.,Ltd. CITIC Securities International Company Limited 25 12 11000.00 23.98 0.85 263780.00 73.14 2010-12-7 2010-12-15 2010-11- 9000.00 22.50 0.92 202500.00 43.27 2010-12-15 2010-12-28 2010-12-7 Guosen Securities 76182.00 3.80 1.47 289491.60 25.07 2010-11-23 2010-12-6 2010-11- Offline price inquiry and online fixed-price offering Offline price inquiry and online fixed and online fixed Superstores Anchor Chain Notes: statistics in this table included all companies whose listing date fell within 2010. 601933 Yonghui 601890 Asian Star 601880 Dalian Port Offline price inquiry

2011 Fact Book 92 Listed Companies

Rights Issues by Listed Companies in 2010

Announcement Announcement Proceeds Date of Issue Price Stock Code Short Name Record Date Date of Share Listing Date (RMB Rights Issue (RMB) Capital Change 10,000) Prospectus 600036 China Merchants 2010-3-4 2010-3-2 2010-3-17 2010-3-19 8.85 1776408 Bank

600151 SAAE 2010-7-2 2010-6-30 2010-7-15 2010-7-19 6.18 129119

600303 SGAutomotiveGroup 2010-11-29 2010-11-25 2010-12-13 2010-12-15 7.20 46982

600343 Aerospace Power 2010-7-13 2010-7-9 2010-7-26 2010-7-28 10.45 57144

600416 Xiangtan Electric 2010-8-20 2010-8-18 2010-9-2 2010-9-6 13.60 94169 Manufacturing

600425 Qingsong Building 2010-8-20 2010-8-18 2010-9-2 2010-9-6 6.40 70274 Materials And Chemicals

600518 Kangmei 2010-12-27 2010-12-23 2011-1-10 2011-1-12 6.88 346989 Pharmaceutical

600531 Yuguang Gold & 2010-12-13 2010-12-9 2010-12-27 2010-12-29 9.49 63566 Lead

600584 Changjiang 2010-10-13 2010-10-11 2010-10-27 2010-10-29 5.69 61423 Electronics Technology

600601 Founder Technology 2010-7-1 2010-6-29 2010-7-15 2010-7-19 2.20 103049 Group

600963 YUEYANG PAPER 2010-12-17 2010-12-15 2011-1-4 2011-1-6 7.70 147038

601009 Bank of Nanjing 2010-11-15 2010-11-11 2010-11-25 2010-11-29 8.37 486428

601166 Industrial Bank 2010-5-24 2010-5-20 2010-6-4 2010-6-8 18.00 1786411

601328 Bank of 2010-6-9 2010-6-7 2010-6-28 2010-6-30 4.50 1712514 Communications

601398 Industrial and 2010-11-15 2010-11-11 2010-11-26 2010-11-30 2.99 3367384 Commercial Bank of China

601939 China Construction 2010-11-4 2010-11-2 2010-11-17 2010-11-19 3.77 223809 Bank

601988 Bank of China 2010-11-2 2010-10-29 2010-11-16 2010-11-18 2.36 4178610

Note: Rights issues in this table included all those whose record date fell within 2010.

2011 Fact Book 93 Listed Companies

Equity Structure of Listed Companies (2010 year-end)

Market Percentage in Value of Issuance Category of Shares Percentage(%) Capitalization Total Market (RMB 100 million) (RMB 100 million) Cap (%)

1. Promoter’s shares 4991.40 17.762 30464.59 17.019

State-owned shares 4709.21 16.758 26536.30 14.824

Shares owned by domestic legal person 235.79 0.839 3312.37 1.850 entities

Shares owned by foreign institutional 25.79 0.092 264.53 0.148 investors

Individual promoter’s shares 20.61 0.073 351.39 0.196

2. Legal person shares 4.53 0.016 50.40 0.028

3. Employee shares 0.00 0.000 0.00 0.000

4. Placement to institutions 136.38 0.485 663.88 0.371

5. Others 775.89 2.761 5490.92 3.067

Sub-total of non-tradable shares 5908.20 21.024 36669.79 20.485

1. RMB-denominated ordinary shares 15901.47 56.585 141330.23 78.952

2. Domestic listed foreign shares 129.84 0.462 1007.22 0.560

3.Overseas listed foreign shares 6162.27 21.928 0.00 0.000

4. Others 0.00 0.000 0.00 0.000

Sub-total of tradable shares 22193.57 78.976 142337.44 79.510

Total of shares 28101.77 100.000 179007.24 100.000

2011 Fact Book 94 Listed Companies

Top 50 Listed Companies by Market Capitalization

Rank Short Name Code Market Cap Percentage in Total Market Cap (%) (RMB10,000) 1 Petrochina 601857 181676571.31 10.15

2 ICBC 601398 111183188.54 6.21

3 Agricultural Bank of China 601288 78806818.77 4.40

4 Bank of China 601988 63154544.44 3.53

5 China Petroleum 600028 56357164.06 3.15 & Chemical 6 China Life 601628 44354118.90 2.48

7 China Shenhua 601088 40749354.79 2.28

8 Ping An Insurance 601318 26880476.52 1.50

9 China Merchants Bank 600036 22630313.66 1.26

10 Pudong Development Bank 600000 17778193.14 0.99

11 Kweichow Moutai 600519 17358369.60 0.97

12 Bank of Communications 601328 16295055.67 0.91

13 Everbright Securities 601818 16012176.84 0.89

14 Industrial Bank 601166 14411843.77 0.81

15 China Pacific Insurance 601601 14396543.00 0.80

16 Citic Bank 601998 13981559.33 0.78

17 SAIC Motor 600104 13567875.04 0.76

18 CITIC Securities 600030 12521638.06 0.70

19 Yangtze Power 600900 12490500.00 0.70

20 Daqin Railway 601006 11625830.95 0.65

21 Air China 601111 11394443.15 0.64

22 China Unicom 600050 11340179.07 0.63

23 Minsheng Bank 600016 11338976.40 0.63

24 Baoshan Iron & Steel 600019 11190198.73 0.63

2011 Fact Book 95 Listed Companies

25 Sany Heavy Industry 600031 10950124.25 0.61

26 China Railway Construction 601668 10260000.00 0.57

27 China Coal Energy 601898 9939072.43 0.56

28 Chalco 601600 9714649.23 0.54

29 Jiangxi Copper 600362 9373892.53 0.52

30 Zijin Mining 601899 8649948.53 0.48

31 Yanzhou Coal 600188 8403440.00 0.47

32 Shanghai Electric 601727 8353406.03 0.47

33 Shanghai Port 600018 7997494.85 0.45 & Container 34 Haitong Securities 600837 7931619.62 0.44

35 Anhui Conch Cement 600585 7914078.17 0.44

36 China Shipbuilding Industry 601989 7841529.00 0.44

37 Jinduicheng Molybdenum 601958 7821289.07 0.44

38 Huatai Securities 601688 7683200.00 0.43

39 China Oilfield Service 601808 7561035.27 0.42

40 Shandong Gold 600547 7501014.66 0.42

41 China South Locomotive & 601766 7411080.00 0.41 Rolling Stock

42 China Railway 601390 7401056.83 0.41

43 China COSCO 601919 7177533.90 0.40

44 Bank of Beijing 601169 7124330.79 0.40

45 China Railway 601186 6957124.45 0.39

46 Shanxi Guoyang New Energy 600348 6897540.00 0.39

47 Lu’an Environmental Energy 601699 6861832.49 0.38

48 China South 600029 6840061.10 0.38

49 China Merchants Securities 600999 6798034.83 0.38

50 Metallurgical Corporation of 601618 6349449.00 0.35 China

2011 Fact Book 96 Listed Companies

Top 50 Listed Companies by Market Capitalization

Market Cap Rank Short Name Code Percentage in Total Market Cap (%) (RMB10,000) 1 Petrochina 601857 181227771.31 12.73

2 ICBC 601398 111183188.54 7.81

3 Bank of China 601988 63154544.44 4.44 China Petroleum 4 600028 56357164.06 3.96 & Chemical 5 China Life 601628 44354118.90 3.12

6 China Shenhua 601088 40304574.79 2.83

7 Ping An Insurance 601318 26880476.52 1.89

8 China Merchants Bank 600036 22630313.66 1.59

9 Kweichow Moutai 600519 17358369.60 1.22

10 Bank of Communications 601328 16295055.67 1.14

11 Industrial Bank 601166 14411843.77 1.01

12 Pudong Development Bank 600000 14222554.51 1.00

13 China Pacific Insurance 601601 14216977.86 1.00

14 Citic Bank 601998 13869295.77 0.97

15 SAIC Motor 600104 12509475.62 0.88

16 CITIC Securities 600030 12408328.06 0.87

17 Daqin Railway 601006 11625830.95 0.82

18 China Unicom 600050 11340179.07 0.80

19 Minsheng Bank 600016 11338976.40 0.80

20 Baoshan Iron & Steel 600019 11190198.73 0.79

21 Air China 601111 10732888.75 0.75

22 Sany Heavy Industry 600031 10138413.60 0.71

23 Jiangxi Copper 600362 9373892.53 0.66 Shanghai Port 24 600018 7997494.85 0.56 & Container

2011 Fact Book 97 Listed Companies

25 Haitong Securities 600837 7931619.62 0.56

26 Anhui Conch Cement 600585 7914078.17 0.56

27 China Oilfield Service 601808 7433335.27 0.52

28 China Railway 601390 7198629.33 0.51

29 Bank of Beijing 601169 7124330.79 0.50

30 China COSCO 601919 7027393.27 0.49 Shanxi Guoyang New 31 600348 6897540.00 0.48 Energy 32 Lu’an Environmental Energy 601699 6861832.49 0.48

33 Poly Real Estate 600048 5708385.41 0.40

34 Yangtze Power 600900 5574600.74 0.39

35 Dongfang Electric 600875 5388315.70 0.38

36 Zijin Mining 601899 5192797.89 0.36 Datang International Power 37 601991 5154795.24 0.36 Generation 38 China South 600029 4675200.00 0.33

39 Western Mining 601168 4489572.00 0.32 China Shipping 40 600150 4488820.54 0.32 Development 41 China Construction 601668 4473360.00 0.31

42 Hengrui Medicine 600276 4436575.94 0.31

43 China Construction Bank 601939 4403488.84 0.31

44 GD Power Development 600795 4270010.22 0.30

45 Hua Xia Bank 600015 4124560.00 0.29

46 Agricultural Bank of China 601288 4111750.60 0.29

47 Gezhouba 600068 4045452.41 0.28

48 Chalco 601600 3986343.15 0.28 Pingdingshan Tianan Coal 49 601666 3830536.11 0.27 Mining Xinjiang Tebian Electric 50 600089 3783042.05 0.27 Apparatus Stock

2011 Fact Book 98 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-6-182010-6-30 0.1502010-6-11 0.100 0.105 0.1402010-6-25 0.090 0.126 0.200 0.180 Short Name Company Development Bank & Steel Center Expressway Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-7-12 0.210 0.189 600012 Wantong Short Name International Company Code Dividend 500001 Jintai Fund500003 Anxin Fund500006 2010-3-30 Fund Yuyang 500009 2010-4-8 0.110 Anshun Fund 2010-4-8500015 0.400 Hanxing Fund 2010-4-8500038 0.670 0.110 Fund Tongqian 2010-1-22500058 0.600 0.400 Fund Yinfeng 2010-2-10 0.303510880 0.670 500002 Distribution ETF 0.330 2010-4-8 0.600 Fund Taihe 500005 2010-7-21 0.303 500008 0.060 Hansheng Fund 2010-4-12 0.020 0.330 500011 Xinghua Fund 2010-1-22 500018 0.047 Jinxin Fund 0.060 2010-2-4 0.300 500056 0.020 Xinghe Fund 2010-3-30 0.531 Keri Fund 0.047 2010-2-4 510880 0.300 600000 0.025 Distribution ETF 2010-4-13 0.180 0.531 Pudong 2010-10-28 0.360 0.025 0.021 0.180 0.360 0.021 600004 Baiyun Airport600006 Dongfeng Automobile 2010-8-24 2010-6-24600008 Beijing Capital 0.260 0.060600011 Huaneng Power 2010-5-7 0.234 0.054 0.120 600005 600007 0.108 Wuhan Iron Trade China World 600009Airport Shanghai 2010-8-10 0.050 0.045 Dividend Distribution by Listed Companies in 2010

2011 Fact Book 99 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-5-282010-7-8 0.2002010-6-30 0.100 0.180 0.110 0.090 0.099 2010-7-16 0.1002010-6-182010-6-17 0.090 0.060 0.1002010-5-21 0.054 0.090 0.100 0.070 Short Name Company Steel Development Chemical Industry Equipment Development High-Tech Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-7-8 0.094 0.085 600019 Baoshan Iron & 2010-7-16 0.0352010-9-30 0.080 0.032 0.072 600028 600030 & China Petroleum CITIC Securities 2010-6-29 0.5002010-7-8 0.233 0.450 0.210 600064 Nanjing Xingang Short Name & Container International & Chemical Pharmaceutical Company Code Dividend 600015 Hua Xia Bank600018 Shanghai Port 2010-5-26 0.130 0.117 600016 Minsheng Bank 2010-7-22 0.050 0.025 600020 Zhongyuan Express600027 2010-6-8 Huadian Power 600028 0.060 China Petroleum 600031 Sany Heavy Industry600033 2010-10-28 0.054 Fujian Express 0.130600036 China Merchants Bank 2010-6-23 2010-7-8600048 600026 Real Estate Poly 0.100 0.007 0.210600051 China Shipping Ningbo United Group 2010-4-30600056 2010-6-18 China Medicine 0.100 0.090 600031 0.189 0.150600059 Guyue Longshan 2010-5-19 Sany Heavy Industry600062 2010-6-30 Double-Crane 0.090 2010-6-11 600035 0.200 600038 0.135600066 0.160 Bus 0.050 Yutong Chutian Express Aviation Hafei 600050 2010-7-9 0.150 600055 2010-5-21 0.124 0.045 China Unicom Medical Wandong 0.080 1.000 2010-6-24 600058 600060 Minmetals 0.054 0.072 0.900 Hisense Electric 2010-5-21 0.048 600067 0.150 Citychamp Dartong 2010-4-23 0.135 0.050 0.035

2011 Fact Book 100 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-23 0.015 0.014 2010-5-7 0.0502010-4-28 0.040 0.045 0.036 2010-6-282010-6-25 0.0502010-6-24 0.300 0.045 0.080 0.270 0.072 Short Name Chemical Power Technology Investment Venture & Steel Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-5-31 0.0602010-6-4 0.050 0.0542010-5-18 0.100 0.045 600110 China-Kinwa High 0.090 600112 Changzheng Electric 2010-3-16 600117 0.023 Special Steel 2010-6-24 0.001 0.050 0.045 Short Name & Bridge Earth Conservancy Company Code Dividend 600068 Gezhouba600071 Phenix Optical 2010-7-21 2010-5-21 0.100 0.100 0.040 0.090 600070 600078 Zhejiang Furun Chengxing Phosph- 2010-5-31 0.200 0.180 600079 Renfu Hi-Tech600088 MediaTelevision China 2010-6-11 2010-8-9600096 Yuntianhua 0.040 0.100600100 Tsinghua Tongfang600102 2010-6-11 2010-7-9 Laiwu Steel 0.036 0.090600106 0.100 0.100 Chongqing Road 600111 2010-5-24 Baotou Steel Rare- 600085 600089600113 0.060 0.090 0.090 Zhejiang Dongri Tongrentang Electric Tebian 600116 Water Three Gorges 2010-5-7 2010-5-12 2010-7-29 600098600118 0.054 600101 China Spacesat 0.050 Holdings600120 0.100 0.230 Mingxing Electric 2010-6-10 Zhejiang Orient 2010-4-23 600104600125 Container Tielong 0.180 0.050 0.015 2010-6-11 SAIC Motor 0.090 0.207 2010-5-13 0.120 2010-6-11 0.060 0.162 0.045 600114 0.050 NBTM 0.108 0.054 600119 0.045 River Yangtze 2010-5-24 600123 600126 Lanhua Sci-Tech 0.030 Hangzhou Iron 0.027

2011 Fact Book 101 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-5-14 0.0202010-6-4 0.018 0.053 0.048 2010-7-30 0.100 0.080 Short Name Industry Industry Holding Pharmaceutical Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-3-52010-7-8 0.1002010-7-16 0.100 0.800 0.090 0.090 0.720 600138 Travel 600143 China Youth 2010-6-2 600151 Kingfa Shanghai Aerospace 0.200 2010-6-4 2010-6-9 0.020 0.180 0.100 0.018 0.090 2010-6-22 0.150 0.135 600196 Fosun Short Name Technology Group Shipbuilding Husbandry Company Code Dividend 600128 Jiangsu Holly600133 East Lake High 2010-7-16600141 Xingfa Chemicals 0.060600150 China State 600153 Xiamen C & D 0.054 2010-7-21 600132 0.250 Chongqing Brewery 2010-6-18 0.225 0.300 600158 0.270 China Sports 600160 Zhejiang Juhua600166 Motor Foton 2010-5-21600170 Shanghai Construction 0.080 2010-8-27600173 2010-5-20 Real Estate Wolong 0.125600177 0.180 2010-3-23 Yongor 0.072600188 0.100 Coal Yanzhou 0.113 0.162600195 China Animal 600162 2010-5-7 2010-7-26600197 0.090 Yilite Heungkong Holding 600172 0.550 2010-5-28 0.250 600168600202 Harbin Air ConditioningWhirlwind Huanghe 2010-6-18 Sanzhen Wuhan 600175 0.050 2010-6-29 0.495 0.225 0.108 2010-6-23 Meidu Holding 0.050 0.180 2010-5-5 0.045 600183 600189 0.097 0.045 0.030 Shengyi Tech Jilin Forest 0.162 600208 2010-5-31 2010-6-23 0.027 Xinhu Venture 600201 0.120 0.100 2010-4-7 Jinyu Group 0.108 2010-7-23 0.060 0.090 0.100 0.004 0.090

2011 Fact Book 102 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-22010-4-13 0.100 0.100 0.090 0.090 2010-5-28 0.120 0.108 Short Name Guangming Real Estate Pharmaceutical Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-5-17 0.012 0.001 600226 Shenghua Biok 2010-5-28 0.150 0.135 2010-9-27 0.0852010-7-72010-5-26 0.050 0.077 0.050 0.045 600250 0.0452010-8-13 Nanfang Textile 0.100 6002522010-5-13 2010-7-16 600256 0.150 Zhongheng Group 2010-9-3 Guanghui Industry 0.090 0.010 2010-4-30 0.135 0.025 0.040 600267 0.009 600269 Hisun 0.003 0.006 Ganyue Expressway 2010-6-29 0.100 0.090 Short Name Pharmaceutical Estate & Antler ;LQNH1HZ0DWHULDOV Construction Automation Company Code Dividend 600210 Zijiang Enterprise600218 Quanchai Engine 2010-6-2600222 Joyline&Joysun 2010-5-10 0.300600227 Chitianhua 0.150600231 Lingyuan Iron and Steel 0.270 2010-4-30600236 2010-5-18 0.135 Guiguan Electric 0.070 0.050 600216 2010-5-12 600219 Zhejiang Medicine 0.110 0.063 2010-5-11 0.045Aluminum Nanshan 2010-7-1 0.800 0.089 600233 600230 0.100Trands Dayang Dahua 0.720 600239 2010-6-4 2010-4-30 0.090 Honghe Yunnan 0.100 0.080 0.090 0.072 600241 Shidai Wanheng600246 Pioneer Real Vantone 2010-6-9600251 Guannong Fruit 0.050600255 600258 Capital Tourism 0.045600262 North Hauler 2010-6-29600266 Beijing Urban 600246 0.600 2010-7-8600268 Guodian Nanjing Vantone Pioneer 0.090 0.540 0.081 600261 Zhejiang Yankon 600263 2010-5-18 CRBC 0.300 2010-6-25 0.270 0.030 0.027

2011 Fact Book 103 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-92010-7-2 0.1002010-6-29 0.1502010-7-16 0.200 0.090 0.050 0.135 2010-6-8 0.180 2010-6-10 0.045 0.050 0.073 0.045 0.066 2010-7-15 0.1002010-6-28 0.090 0.070 0.003 Short Name Enterprise Emporium Resources Pharmaceutial & Beverage Vinegar-Industry Construction Mansion Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-7-1 0.130 0.1172010-7-9 600285 0.100 Lingrui 0.0902010-5-20 0.040 600308 Huatai Paper 0.036 2010-8-13 0.100 600323 Nanhai Development 2010-7-22 0.090 0.150 0.135 Short Name & Bridge Construction Iron & Steel Development Company Code Dividend 600270 Sinotrans600276 Hengrui Medicine 2010-6-17 2010-3-23 0.100 0.100 0.090 0.070 600271 600278 Aisino Orient International 2010-5-18 0.210 0.189 600279 Chongqing Gangjiu600282 2010-5-28 Southern China Steel600284 2010-5-26 0.040 Pudong Road 0.040600287 Jiangsu Sainty600298 0.036 Angel Yeast 2010-6-1 0.036600303 SG Automotive 0.030600307 600280 2010-4-9 Steel Group Hongxing 2010-5-28 600283600309 Nanjing Central 0.130 Wanhua Yantai 0.080 Water Qianjiang 0.027600315 Shanghai Jahwa 2010-5-21600317 0.117 Port Yingkou 2010-4-20 0.072 0.300 600295600322 Reality Tianjin 0.350 Eerduosi 2010-4-29600325 600300 Huafa 600305 0.270 0.100 V Food 2010-6-24 0.285 Jiangsu Hengshun 600312 0.100 0.090 2010-6-24 600316 Pinggao Electric 0.100Aviation Hongdu 2010-6-25 0.090 600321 2010-10-15 0.050 0.090 Guodong 0.030 600327 0.045 0.027 Commercial

2011 Fact Book 104 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-8-102010-7-12 0.0502010-7-5 0.150 0.045 0.0882010-5-25 0.135 0.100 0.079 2010-8-11 0.090 2010-7-8 0.020 0.0802010-5-11 0.018 2010-5-31 0.100 0.072 0.020 0.090 0.008 Short Name Pharmaceutical Communication Expressway Agriculture Development Optoelectronic Communications Development Technology Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-9-17 0.0502010-6-9 0.310 0.045 0.279 600376 Beijing Capital 600378 Science & Tianyi Short Name Development Expressway Company Code Dividend 600328 Lantai Industrial 2010-7-8 0.010 0.009 600332 Guangzhou 600337 Markor Furniture600348 Guoyang New Energy 2010-4-16 2010-6-17600351 Pharmaceutical Yabao 0.030 2010-6-3 0.380600356 Hengfeng Paper 0.100600360 0.027 2010-8-20 0.192 Sino-Microelectronics 2010-7-2600362 0.381 Jiangxi Copper 0.040 600345600366 0.050 600350 Ningbo Yunsheng 2010-7-8 Yangtze 600370 0.343 Shandong 2010-5-31 600352 Sanfangxiang 0.100600376 0.045 0.200 Zhejiang Longsheng Beijing Capital 2010-6-2 2010-4-30 600359600377 Shanghai-Ningbo 0.090 0.100 600361 Talimu Xinjiang 600382 0.100 0.180 Guangdong Mingzhu Hypermarket600387 2010-6-7 Zhejiang Haiyue 600363 0.090 2010-6-24 0.090 0.030 600368 2010-6-18 Lianchuang Wuzhou 0.100 0.200 600371 0.027 Doneed Wanxiang 2010-5-21 0.090 0.150 600383 0.200 Gemdale 600388 Fujian Longking 0.170 2010-5-10 2010-7-8 0.100 0.500 0.090 0.450

2011 Fact Book 105 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-16 0.4502010-5-202010-3-30 0.405 0.0202010-4-30 0.1502010-6-21 0.018 0.1502010-4-29 0.035 0.050 0.135 0.200 0.045 2010-3-23 0.180 0.2002010-6-29 0.180 2010-5-27 0.145 0.100 0.131 0.090 Short Name Coal Tech Development Manufacturing Pharmaceutical Materials and Chemicals Electrical Technology metals Waterworks Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-5-31 0.100 0.070 600425 Qingsong Building 2010-6-22 0.030 0.027 600461 Hongcheng Short Name Industry Microelectronics Company Code Dividend 600393 DonghuaIndustrial 2010-6-28 0.100 0.090 600395 Refined Panjiang 600396 Jinshan Energy600400 Hongdou Industry 2010-6-4600405 2010-6-17 Dynamic Power 0.020600410 0.020 Teamsun 2010-7-20600418 Jianghuai Automobile 0.050 0.018 2010-6-28600423 0.018 2010-6-10 Liuzhou Chemical 0.100 0.150600426 0.045 600398 Hualu Hengsheng 600403600433Tech Canal Sci & 2010-5-18 0.090 Guanhao High-tech Nanjing Xinwang 0.135 2010-6-28 600406600436 2010-4-30 0.100 Pientzehuang Technology 600449 NARI 0.030 0.030 600422 Saima Industria 600416 2010-6-28600458 0.090 New Materials Times 2010-6-17 Xiangtan Electric 0.500600460 2010-9-21 0.027 0.027 Hangzhou Silan 0.200 0.200 600432 0.450 600435 Jien Nickel 0.180 0.180 China North Optical- 2010-6-4 600439 600456 Rebecca 600459 0.100Titanium Baoji Sino-platinum 2010-4-22 2010-5-13 0.090 0.080 0.250 0.052 0.225

2011 Fact Book 106 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-6-2 0.060 0.054 2010-7-202010-6-29 0.020 0.250 0.018 2010-7-2 0.225 2010-7-9 0.0302010-5-24 0.1502010-6-4 0.250 0.027 2010-7-19 0.135 0.030 0.225 0.080 0.027 0.072 Short Name Development Textile Photoelectrical Building Telecommunication International Resources Thermoelectric Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-7-20 0.0302010-4-26 0.007 0.250 600478 0.225 corun 6004832010-6-23 2010-8-23 Fujian Nanfang 0.300 0.030 0.270 0.027 600498 Fiberhome Short Name Structure conditioning Germanium Company Code Dividend 600463 Park Airport High-Tech 2010-4-23 0.100 0.090 600467Aquatic Homey 600469 Aeolus Tyre600477 Hangxiao Steel 600479 2010-7-8 Qianjin Pharmaceutical 2010-6-18600481 0.100 Shuangliang Air- 0.500600486 Chemical Yangnong 600488 2010-5-26 0.090 Pharmaceutical Tianyao 2010-5-21 0.450600491 0.200 Construction Long Yuan 0.030 2010-5-28600495 600475 Jinxi Axle 600480 0.050600497 0.180 Huaguang Chihong Zinc& 0.027 Lingyun Industrial600499 2010-6-11 2010-1-20 Keda Industrial 2010-6-23 0.045 600487600501 0.050 Aerosun 600489 0.080 2010-3-12 0.100 Hengtong 600508 Shanghai Energy 600493 Zhongjin Gold 0.100600510 0.045 2010-7-21 Black Peony 0.072 Textile Fengzhu 2010-6-21 2010-7-15 0.090 2010-6-10 0.100 0.150 0.090 0.150 2010-6-17 600496 0.100 0.150 Jinggong Steel 0.090 0.135 600500 0.135 Sinochem 0.090 0.135 600502 600509 Anhui Water Tianfu 600511 National Medicines 2010-6-25 0.100 0.090

2011 Fact Book 107 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-5-20 0.2002010-7-82010-6-21 0.180 0.0502010-6-8 0.100 0.045 0.1502010-7-2 0.090 0.135 0.040 0.036 2010-6-4 0.160 0.144 Short Name Technology Polymer Fiber Polymer Pharmaceutical Lead Modern Agriculture Welding Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-6-10 0.0502010-5-27 0.035 0.045 0.032 600517 600519 Zhixin Electric Kweichow Moutai 2010-5-28 2010-7-9 0.300 1.185 0.270 1.067 2010-7-16 0.100 0.090 6005272010-6-11 Jiangnan High 0.200 0.180 600547 Shandong Gold 2010-5-20 0.100 0.040 Short Name Pharmaceutical Pharmaceutical Science & Technology Science & International Company Code Dividend 600513 Lianhuan 600518 Kangmei 600521 Huahai Pharmaceutical 2010-5-10 0.100 0.090 600522 Zhongtian 600523 Guihang Automotive600526 2010-6-29 Enviromental Feida 600528 0.071 China Railway Erju600530 2010-6-17 Jiaoda Onlly600533 0.064 0.100 Chixia Development600536 2010-6-28 2010-4-16 China National Software 2010-7-9 600525 0.050600546 0.150 0.090 Shanxi Coal 0.020 Changyuan Group600548 Shenzhen Expressway 2010-5-5 2010-6-3 0.045600551 0.135 600529 Media Times 0.018 0.100600557 0.120 Shandong Kanion Pharmaceutical 2010-6-23 600531 2010-6-4 600535600559 Laobaigan Liquor 600540 0.135 Gold & Yuguang 0.090 0.108 Tasly 0.100 2010-7-2 Xinjiang Sayram 0.100 0.122 600549 2010-6-10 0.090Tungsten Xiamen 0.400 0.090 2010-6-8 600558 600553 Atlantic China Cement Taihang 0.150 0.360 600560 2010-5-7 AriTime 0.135 0.050 2010-5-28 0.045 0.080 0.072

2011 Fact Book 108 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-5-25 0.0102010-8-18 0.009 0.1602010-5-12 0.144 0.1002010-7-2 0.060 0.090 2010-6-24 0.054 0.1002010-6-23 0.090 0.148 0.133 Short Name Machinery Power Electronics Technology Glass Pharmaceutics Agriculture Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-4-21 0.1002010-7-16 0.090 0.0602010-5-27 600578 0.004 0.100 Jingneng Thermal 600584 0.0902010-10-20 Changjiang 0.030 600588 0.007 Ufida Software 2010-5-7 600595 0.600 Zhongfu Industry 2010-3-23 0.540 0.060 0.024 Short Name Wire Technology Instrument Pharmaceutics Company Code Dividend 600561 Jiangxi Changyun600565 2010-6-25 Dima Industry 0.180 2010-6-2 0.010 0.162 0.009 600563 Faratronic 600566 2010-5-25 Hongcheng General 0.400 0.360 600567 Shanying Paper600572 Conba 2010-6-18600577 Jingda Special Magnet 0.060600580 Electric Wolong 2010-5-24600582 Science & Tiandi 0.054 2010-3-8 0.150600585 0.100 Anhui Conch Cement 2010-6-24600587 600570 0.135 Xinhua Medical 0.350600589 Hundsun Electronics 0.090 2010-5-14 Guangdong Rongtai600592 600573 2010-6-7 Longxi Bearing 0.050 0.315600594 Huiquan Brewage 600581 0.020 Guizhou Yibai 2010-5-20 2010-6-28600596 SteelYi Ba Xinan Chemical 0.005 0.100 600586 0.150 0.018 2010-5-27 2010-5-6 Shandong Jinjing 0.090 0.400 0.050 0.135 600590 Sci-Tech Tellhow 600594 0.360 2010-5-25 0.045 Yibai Guizhou 0.100 600598 Heilongjiang 0.090

2011 Fact Book 109 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-22010-8-6 0.010 0.1002010-6-21 0.009 0.150 0.090 2010-7-9 0.135 2010-8-13 0.050 0.300 0.045 0.270 2010-7-272010-7-9 0.100 0.200 0.090 0.180 Short Name & Technology Transportation Transportation Commerce Group Power Industrial Investment Department Store River Industrial Company Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date Short Name Company Code Dividend 600600 Tsingtao Brewery 2010-8-3 0.160 0.144 600601 Science Founder 600606 Jinfeng Investment600612 2010-5-12 China First Pencil600620 0.050Tianchen Shanghai 2010-8-27600626 2010-7-21 0.200 Shanghai Shenda600631 0.035 0.030 2010-6-11 Brilliance Group600642 0.100 0.180 Shenergy 2010-7-28600649 600611 0.027 Shanghai Chengtou 0.120600655 Dazhong 2010-8-27 600619 2010-3-31 0.090 MartTourist Yuyuan 600662 600622 0.100 2010-7-30 0.200 Shanghai Highly Qiangsheng Holding 0.108600664 Jiabao Industry & 2010-7-16 2010-6-24 0.080 600628 Harbin Pharmaceutical 2010-6-18600668 0.080 0.090World 0.180 New 0.100 600639 Jianfeng Group 0.490600676 0.022 Shanghai Jiaoyun Pudong Jinqiao 2010-8-25 2010-7-8600683 600650 0.072 600644 2010-8-19 0.090 2010-5-21 Jingtou Yintai 0.441 0.050 0.110 600660 Jinjiang International Leshan Electric 0.100 0.110 2010-3-26 600663 Fuyao Glass 600665 0.045 0.099 0.050 Lujiazui 2010-4-29 0.090 0.089 Tande 0.170 600674 2010-6-30 0.045 600682 2010-6-4 Chuantou Energy 0.145 Nanjing Xinjiekou 2010-6-24 0.153 600684 0.060 0.010 Guangzhou Pearl 0.131 0.054 0.009

2011 Fact Book 110 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-9 0.0252010-5-312010-6-24 0.100 0.023 0.3242010-5-17 0.090 2010-7-19 0.292 0.300 0.1502010-6-28 0.270 0.135 0.020 0.018 Short Name Company Power Hi-Tech Systems Pharmaceutical Trade Industry Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-7-12 0.2802010-7-20 0.030 0.252 0.027 600686 600690 King Long Motor 2010-7-5 Qingdao Haier 2010-8-6 0.050 0.300 0.045 0.270 2010-5-21 0.2002010-7-7 0.1802010-5-11 0.180 0.0352010-6-29 600736 0.360 0.162 Suzhou New District 0.032 0.324 600743 600750 Huayuan Property 2010-3-11 600755 Jiangzhong 0.100 Xiamen International 0.065 Short Name International Petrochemical Store Components Development Hotels Company Code Dividend 600685 Guangzhou Shipyard 600688 Shanghai 600697 Eurasia Group600704 Zhongda Group 2010-7-16600718 Neusoft Group 2010-7-7 0.300 2010-7-15 0.200 0.200 0.270 0.180 600702 0.180 600717 LiquorYeast Tuopai 2010-5-28 600719 Port Tianjin 0.060Thermal Dalian 2010-6-24 0.054 0.100 0.090 600720 Qilianshan600729 Chongqing Department 600737 2010-6-24 Cofco Tunhe600742 0.150 Automobile FAWAY 2010-6-4600748 Shanghai Industrial 600754 0.028 0.135 Jin Jiang International 600761 Anhui Heli600765 0.025 600725 Heavy Machinery AVIC 2010-5-18600778 Yunwei Yunnan 2010-6-28 Group Friendship 0.050 600741 2010-5-19 0.100 2010-7-19 Huayu Automotive 0.023 0.050 0.045 0.090 0.001 0.045 600777 600764 Xinchao Yantai CEC CoreCast 600779 2010-6-22 Swellfun 0.030 2010-5-13 0.540 0.027 0.486

2011 Fact Book 111 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-5-252010-6-9 0.300 0.100 0.270 0.090 2010-7-28 0.0402010-6-17 0.036 2010-7-8 0.1002010-4-15 0.0512010-6-11 0.070 0.150 0.050 0.046 0.125 0.045 Short Name Company Store Light & Textile Textile Light & Industrial City Steel Trading Media Department Store Network Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-6-24 0.060 0.054 600785 Xinhua Department 2010-7-13 0.040 0.036 600790 ZheJiang China 2010-4-30 0.060 0.054 600825 Shanghai Xinhua Short Name ;LQ\X,URQ6WHHO Development Stores Company Code Dividend 600782 600787 Zhongchu 600791 Jingneng Property600797 2010-5-25 Insigma600801 0.060 Huaxin Cement600806Tool Kunming Machine 2010-8-10 2010-6-11 2010-7-22600809 0.054Wine Shanxi Fen 0.010 0.200 0.050600815 Engineering Machinery 2010-6-30 2010-7-26600820 600795 Engineering Tunnel 0.500 0.009 0.180 0.045 0.050600824 GD Power 2010-8-24 Department Yimin 600827 0.200 600798 0.450 Group Friendship 600804 600808 2010-5-10 0.045600829 Ningbo MarineTechnology 2010-7-22 Sanjing Pharmaceutical Dr.Peng Maanshan Iron & 2010-7-2 2010-6-11 0.078600832 0.180 600810 2010-5-31 0.200 Shanghai Oriental Pearl 600818 2010-7-5 0.680 0.040 Shenma Industry 0.020 Zhonglu Co. 0.098 0.000 2010-7-7 600822 0.180 2010-4-30 0.612 0.036 Shanghai Material 0.020 0.018 0.088 0.030 600828 600831 People’S 0.018 600833TV Broadcast & 0.017 Pharmacy No.1 2010-7-22 0.080 0.072

2011 Fact Book 112 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-6-28 0.100 0.090 2010-5-25 0.020 0.018 2010-7-12 0.015 0.004 2010-6-29 0.040 0.016 Short Name Company Mechanical & Electrical Computer Industrial and Commercial Holding Fibre Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-6-11 0.030 0.027 6008502010-7-9 East-China 2010-7-14 0.080 0.100 0.072 0.090 600875 600880 Dongfang Electric 2010-7-8 B-ray Media 0.160 2010-5-12 0.150 0.144 0.115 Short Name Technology Industrial Technology Protection Electronics Company Code Dividend 600834 Shentong Metro 2010-7-16 0.060 0.054 600835 Shanghai 600836 Jielong Industry 600841 Shanghai Diesel Engine 2010-6-22 2010-6-11600846 Science & Tongji 0.030 0.050600853 Longjian Road &Bridge 2010-8-24600858 Silver Plaza 0.027 0.045 0.010600861 Beijing Urban-Rura600866 2010-6-18 2010-4-28 600837 Star Lake Bioscience 600845 0.009 2010-5-21 0.070 0.110600874 Haitong Securities Baosight Software Capital Environmental 0.150 2010-7-5 2010-6-21600879 600857 Aerospace Times 0.063 0.099 0.300 0.200600881 HIT Shouchuang Group 0.135 Yatai 2010-5-28600884 Ningbo Shanshan 600859 600864 0.270 0.180 600888 2010-6-11 0.020 600872 2010-5-20 Xinjiang Joinworld Wangfujing Hatou Investment 0.100 2010-8-5 2010-4-28 0.100 Jonjee Hi-Tech 2010-8-18 0.018 0.060 0.050 0.090 0.300 0.090 0.054 0.045 600883 0.270 Huajing Power SDIC Huajing Power 2010-7-9 Technology Bowin 600889 2010-6-2 Nanjing Chemical 0.220 0.050 0.198 0.045

2011 Fact Book 113 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-6-102010-5-26 0.3002010-7-16 0.080 0.270 0.060 0.072 0.054 2010-5-21 0.0402010-6-17 0.036 0.1002010-5-19 0.090 0.060 0.054 Short Name Company Park Technology Airport Piston Industry Sanyo Power Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-6-24 0.020 0.018 6008972010-6-21 Xiamen International 0.100 0.090 600975 New Wellful 2010-6-11 0.120 0.108 Short Name Haisheng Technology Company Code Dividend 600893 Xi’an Aero-engine 2010-6-25 0.080 0.072 600895 Zhangjiang High 600896 China Shipping 600900 Power Yangtze 600961 Zhuzhou Smelter 2010-7-23600965 2010-6-24 Ng Fung Fortune 0.370600970 0.150 Sinoma International 2010-9-3600973 2010-5-19 Baosheng Science and 0.030 0.333600976 0.030 0.135 Jianmin Wuhan 600981 Jiangsu Skyrun 600960 0.027 2010-4-30600983 0.007 600963 Rongshida Sanyo Binzhou Bohai 0.150 2010-7-19 2010-10-28600985 Paper Yueyang Leimingkehua 600967 0.050 0.060 600970600990 2010-5-18 Sun-Create Electronics Beifang Chuangye 0.135 2010-3-30 2010-6-29 Sinoma International 2010-6-24600993 2010-9-20 0.050 Mayinglong 0.015 0.054 0.100 0.120600997 0.050 600978 Kailuan Clean Coal 0.270 2010-7-9 2010-5-28 0.045 600983 Timber Yihua 600982 0.040 0.108 0.045 0.300 0.100 Hefei Rongshida 0.243 Thermal Ningbo 2010-7-8 600992 600987 0.270 0.090Wire Rope Guizhou Zhejiang Hangmin 0.100 2010-5-20 2010-6-4 600995 600999 0.060 0.150 0.090 Electric Wenshan Merchants Securities 2010-7-16 0.054 0.135 0.500 0.450

2011 Fact Book 114 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-7-22 0.1602010-10-15 0.100 0.144 2010-7-8 0.090 0.300 0.270 Short Name Company Construction Communications Insurance Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-5-31 0.100 0.0902010-7-15 0.102 601333 Guangshen Railway 0.092 2010-7-21 0.080 601628 China Life 0.072 2010-7-2 0.700 0.630 Short Name Communications Pharmaceutical Company Code Dividend 601001 Datong Coal601003 Liuzhou Iron and Steel 2010-6-9601008 2010-7-30 Lianyungang601088 0.530 0.150 China Shenhua601101 2010-5-28 Haohua Energy 2010-7-20 0.030 0.377 0.135601139 Shenzhen Gas 0.530 2010-7-23601166 Industrial Bank 0.700 2010-6-11 601002 601006 0.027601169 Bank of Beijing 0.477 0.100 2010-4-15 Industrial Gem-Year Daqin Railway 2010-6-11 0.630 2010-7-26 0.500 601009 2010-6-30 0.100 601099 0.090 0.180 Bank of Nanjing 0.300 601107 Ocean Pacific 2010-6-21 0.450 0.090 601158 Sichuan Expressway 0.162 2010-6-30 2010-6-23 0.100 0.270 Water Chongqing 601168 0.020 2010-7-9 0.064 601186 Mining Western 0.060 2010-7-14 0.085 China Railway 0.018 0.058 0.100 0.077 0.090 601299 CNR601318An Insurance Ping 601328 2010-9-17 Bank of 2010-7-6601390 0.150 China Railway601588 0.020 North Star 2010-7-22601607 0.135 Shanghai 0.063 0.018 2010-7-29 601328 0.030 0.057 601318 Bank of Ping An Insurance 0.027 2010-7-21 601398 ICBC 0.300 601601 China Pacific 0.270 2010-6-25 0.170 0.153

2011 Fact Book 115 Listed Companies tax) (RMB) Dividend (after (RMB) Dividend (before tax) Distribution Date 2010-6-82010-7-14 0.029 0.040 0.026 0.036 2010-6-28 0.0202010-6-23 0.018 2010-7-9 0.250 0.044 0.225 0.040 Short Name Company Construction Locomotive & Rolling Stock Energy Shipping Molybdenum Industry Dividend Code (RMB) Dividend (after tax) (RMB) Dividend (before tax) Distribution Date 2010-6-24 0.200 0.150 601668 China State 2010-6-18 1.000 0.9002010-6-2 601766 0.200 China South 2010-7-21 0.202 0.1802010-7-6 0.182 6018982010-7-9 0.070 China Coal Energy 0.020 2010-7-28 601958 0.063 0.150 Jinduicheng 0.018 601998 0.135 Citic Bank 2010-7-28 0.088 0.079 Short Name Coal Energy Appliance Bank Generation Power Media Company Note: statistics released within 2010 should be used. Code Dividend 601666 Pingdingshan Tianan 601699 Lu’an Environmental 601788 Everbright Securities601808 2010-5-7 China Oilfield Services 2010-6-17601857 0.500 Petrochina 0.140601877 Zhengtai Electric 601899 0.450 2010-10-15 Zijin Mining 0.126601939 0.161 China Construction 601988 601801 2010-6-22 Bank of China 601857 0.145601991 Anhui Xinhua Media 0.100 2010-6-11 Datang International Petrochina 2010-6-22601999 Liaoning Publishing & 0.070 0.140 601872 0.090 2010-6-30 China Merchants 0.130 0.063 0.126 601918 SDIC Xinji 0.117 601989 2010-5-28 China Shipbuilding 0.200 0.180

2011 Fact Book 116 Listed Companies

Changes of Stock Short Names in 2010

Code Date New Former Short Name Short Name 600076 2010-6-9 ST Huaguang *ST Huaguang

600079 2010-4-28 Humanwell Healthcare Humanwell Hi-tech

600080 2010-4-27 *ST Golden Development Holdings ST Golden Development Holdings

600084 2010-3-11 *ST Xinjiang Yilite Industry ST Xinjiang Yilite Industry

600130 2010-6-30 ST Bird *ST Bird

600157 2010-10-29 Wintime Energy Taian Lurun

600184 2010-12-13 Electro-Optic New HuaGuang

600234 2010-6-9 ST Tianlong *ST Tianlong

600340 2010-7-1 ST King Refrigeration *ST King Refrigeration

600372 2010-9-20 ST Changhe *ST Changhe

600421 2010-6-10 ST Guoyao *ST Guoyao

600462 2010-4-26 *ST Shixian ST Shixian

600481 2010-6-29 Shuangliang Eco-Energy Systems Shuangliang Air-conditioning

600506 2010-11-11 ST Korla Pear *ST Korla Pear

600515 2010-4-1 *ST Zhuxin ST Zhuxin

600608 2010-4-30 *ST Shanghai Broadband Technology ST Shanghai Broadband Technology

600613 2010-1-4 Wingsung Investment Wingsung Data

600617 2010-5-4 *ST Lianhua ST Lianhua

600658 2010-3-5 Electronics City C&W Technology

600691 2010-4-22 *ST Dongxin Electrical Carbon ST Dongxin Electrical Carbon

600699 2010-4-15 *ST Deheng ST Deheng

600716 2010-2-8 ST Phoenix ST Yaohua

600722 2010-3-31 *ST Jinniu Chemical Industry ST Jinniu Chemical Industry

600728 2010-6-9 *ST Suntek Technology S*ST Suntek Technology

2011 Fact Book 117 Listed Companies

600728 2010-9-13 ST Suntek Technology *ST Suntek Technology

600757 2010-3-31 *ST Worldbest Industry Development ST Worldbest Industry Development

600773 2010-3-24 Tibet Urban Development and Along Tibet Investment 600810 2010-4-22 Shenma Group Shenma Industry

600824 2010-11-26 Yimin Commercial Group Yimin Department Stores

600870 2010-5-14 ST Xiamen Overseas Chinese *ST Xiamen Overseas Chinese Electronic Electronic 600890 2010-7-19 ST Credholding *ST Credholding

600892 2010-7-9 ST Baocheng ST Huda Technology & Education

600984 2010-3-3 *ST Construction Machinery ST Construction Machinery

600988 2010-4-29 *ST Baolong ST Baolong

900913 2010-5-4 *ST Lianhua B ST Lianhua B

900939 2010-4-16 *ST Huili B ST Huili B

2011 Fact Book 118 Listed Companies

Table of Changes in the Names of Listed Companies in 2010

Code for A Short name for Short name for Announcement No. Date of change Comments shares former A shares new A shares Date 1 600716 ST Yaohua ST Phoenix 2010-02-08 The full name of the 2010-02-02 company was changed from “ Yaohua Glass Co., Ltd.” to “Jiangsu Phoenix Property Investment Co., Ltd” 2 600658 C&W Technology Electronic Zone 2010-03-05 The full name of the 2010-03-02 company was changed from “Beijing C&W Technology Co. Ltd.” to “Beijing Electronic Zone Investment and Development Co., Ltd” 3 600773 Along Tibet T ibet Urban 2010-03-24 The full name of the 2010-03-19 Development and company was changed Investment from “Along Tibet Co., Ltd.” to “Tibet Urban Development and Investment Co., Ltd.” 4 600079 Wuhan Humanwell Wuhan Humanwell 2010-04-28 The full name of 2010-04-23 Hi-Tech Industry Healthcare (Group) the company was

Co., Ltd Co., Ltd changed from “>Wuhan Humanwell Hi-Tech

Industry Co., Ltd<” to “Wuhan Humanwell Healthcare (Group) Co. , Ltd. 5 600481 Jiangsu Shuangliang Eco- 2010-06-29 The full name of the 2010-06-23 Shuangliang Air- Energy company was changed

conditioning from “>Jiangsu Shuangliang Air- conditioning Co., Ltd”

“to “Shuangliang Eco- Energy Systems Co., Ltd

2011 Fact Book 119 Listed Companies

6 600892 ST Huda ST Baocheng 2010-07-09 The full name of 2010-07-06 Technology the company was

changed from “>Hebei Huda Technology & Education Development

Co., Ltd<” to “Baocheng Investment Co., Ltd” 7 600157 Lurun Wintime Energy 2010-10-29 The full name of the 2010-10-26 company was changed

from “>Taian Lurun

Co., Ltd<” to “Wintime Energy Co., Ltd” 8 600824 Yimin Commercial Yimin Group 2010-11-26 The full name of the 2010-11-23 company was changed

from “>Shanghai Yimin

Commercial Co., Ltd<” to “Shanghai Yimin Commercial Group Co.,

Ltd<” 9 600184 New HuaGuang Electro-Optic 2010-12-13 The full name of the 2010-12-08 company was changed from “>Hubei New HuaGuang information Materials Co., Ltd” to “North Electro-Optic Co., Ltd.” 10 600849 Shanghai Shanghai 2010-03-05 The Shanghai 2010-03-03 Pharmaceuticals Pharmaceuticals Pharmaceuticals Change merged with the Shanghai Industrial Pharmaceutical

Investment Co., Ltd< and the Shanghai Zhongxi Pharmaceutical Co., Ltd by way of share swap, did not change its name and stock short name, but changed its stock code from “600849” to “601607”.

2011 Fact Book 120 Listed Companies Warnings of Delisting Risk after Enforcement B-share Short Name Yilite Yilite Baike Construction Xinjiang Shanxi Coking Zhuxin Worldbest Industry after Enforcement of A-share Short Name Delisting Risk Warnings Delisting Risk Material Industry Machinery Industry Commencement Date Suspension Date of Trade Trade Date of Date of Announcement 2010-03-19 2010-03-19 2010-03-22 *ST Beiren 2010-02-23 2010-02-23 2010-02-24 *ST Gaochun 2010-02-262010-03-02 2010-02-262010-03-10 2010-03-02 2010-03-01 2010-03-10 2010-03-032010-03-30 *ST 2010-03-112010-03-30 *ST 2010-03-30 *ST 2010-03-30 2010-03-312010-03-31 2010-03-31 *ST 2010-03-31 *ST 2010-04-01 *ST 2010-04-06 2010-04-06 2010-04-07 *ST New Chemical 2010-03-30 2010-03-30 2010-03-31 **ST Jinniu Chemical B-share short name Code B-share Yilite Yilite Name Construction Xinjiang Zhuxin Worldbest A-share Short Machinery Holdings Ceramics Baike Group Machinery Industry Shanxi Coking Industry Chemical Material Chemical Industry Code A-share No 10 600299 Blue Star New 5 600860 Beiren Printing 6 600740 9 600515 ST 8 600722 ST Jinniu 4 600084 ST 7 600757 ST 1 600562 Gaochun 2 600077 3 600984 ST Companies Subject to Delisting Risk Warnings in 2010 Companies Subject to Delisting Risk Warnings

2011 Fact Book 121 Listed Companies B Huili Chemical Golden Deheng Minjiang Guotong Dongxin Electrical Xianglong Nanning Lawton Development Holdings Industry Carbon Hydropower 2010-04-21 2010-04-212010-04-222010-04-23 2010-04-22 2010-04-22 2010-04-23 *ST 2010-04-232010-04-24 2010-04-262010-04-26 *ST 2010-04-26 *ST 2010-04-26 2010-04-27 2010-04-27 *ST *ST 2010-04-09 2010-04-092010-04-15 2010-04-12 2010-04-15 *ST Linuo Solar Energy 2010-04-16 *ST Heihua 2010-04-14 2010-04-142010-04-15 2010-04-152010-04-16 2010-04-15 *ST 2010-04-16 2010-04-16 2010-04-19 *ST *ST 2010-04-19 2010-04-19 2010-04-20 *ST Jinglun B 2010-04-15 2010-04-15 2010-04-16 *ST Huili Golden Deheng Dongxin Xianglong Industry Power Nanning Chemical Industry Lawton Development Development Holdings Electrical Carbon Energy Heihua Minjiang Hydropower Guotong Hi- Tech Pipes Industry Electronic 14 900939 ST 15 600131 23 600080 ST 20 600301 21 60046222 ST Shixian 600209 2010-04-23 2010-04-23 2010-04-26 *ST Shixian 17 600355 Jinglun 18 600691 ST 19 600769 16 600444 11 600885 Linuo Solar 12 60069913 ST 600179 Heilongjiang

2011 Fact Book 122 Listed Companies B Lianhua *ST Xinxin Industrial Synica Baolong Gofar Shanghai Lianhua Broadband Technology Technology 2010-04-29 2010-04-292010-04-30 2010-04-30 2010-04-30 *ST 2010-05-04 *ST 2010-04-30 2010-04-30 2010-05-04 *ST JinBei 2010-04-30 2010-04-30 2010-05-04 Tomorrow *ST 2010-04-26 2010-04-26 2010-04-27 *ST Butone Information 2010-04-272010-04-28 2010-04-272010-04-28 2010-04-282010-04-28 2010-04-282010-04-29 2010-04-28 2010-04-29 2010-04-28 2010-04-29 *ST 2010-04-29 *ST 2010-04-29 2010-04-30 *ST *ST *ST Hainiao Lianhua B Baolong Shanghai Broadband Technology Automobile Technology Information Xinxin Industrial Shanghai Synica Beihai Gofar Hainiao Enterprise Development 30 600608 ST 33 60014534 Swell Holding 600609 JinBei 2010-04-30 2010-04-30 2010-05-04 *ST Swell 31 600091 Tomorrow 32 600617 ST 900913 ST 27 60098828 ST 600538 29 600634 26 600490 24 600455 Butone 25 600373

2011 Fact Book 123 Listed Companies

Companies Subject to Listing Suspension in 2010

Publication Date for the Commencement Date for No. A-share Code A-share Short Name Announcement of Listing Implementation of Listing Suspension Suspension 1 600817 *ST Hongsheng 2010-04-02 2010-04-09 2 600633 *ST Whitecat 2010-05-17 2010-05-25 3 600313 *ST Zhongken 2010-05-18 2010-05-25 Agricultral Resource Development 4 600727 *ST Lubei Chemical 2010-05-18 2010-05-25 5 600898 *ST Sanlian 2010-05-18 2010-05-25 Commerce

Companies Subject to Listing Termination in 2010

Publication Date for the Commencement Date for NO A-share Code A-share Short Name Announcement of Listing Implementation of Listing Termination Termination 1 600591 *ST Shanghai Airlines 2010-01-22 2010-01-25

2 600842 Zhongxi Pharmaceutical 2010-02-11 2010-02-12

3 600607 Shanghai Industrial Pharmaceutical 2010-02-11 2010-02-12

4 600003 ST Northeast Expressway 2010-02-24 2010-02-26

Companies Subject to Listing Resumption in 2010

No A-share Code A-share Short Name Publication Date for the Listing A-share Short Name Subject to Announcement of Listing Date Listing Resumption Resumption

1 600870 *ST Xiamen Overseas 2010-05-07 2010- ST Xiamen Overseas Chinese Chinese Electronic 05-14 Electronic

2 600372 *ST Changhe 2010-09-13 2010- ST Changhe 09-20

2011 Fact Book 124 Listed Companies

Companies Subject to Cancellation of Special Treatment in 2010

(I) Cancellation of Special Treatment Commencement Short Name for Shares Company Short Date for Cancellation Publication No Company Code Subject to Special Treatment Notes Name of Special Treatment Date

1 600223 ST Lushang Lushang Property 2010-03-11 2010-03- Property 10 2 600716 ST phoenix phoenix 2010-04-02 2010-04- 01 3 600225 ST SongJiang Tianjin SongJiang 2010-05-19 2010-05- 18 4 600259 ST Nonferrous Rising Nonferrous Metals 2010-05-19 2010-05- Metals 18 5 600115 ST Eastern Airlines China Eastern Airlines 2010-05-28 2010-05- 27 6 600187 ST Interchina Interchina Water Treatment 2010-08-26 2010-08- 25

(II) Companies Subject to Withdrawal of Delisting Risk Warnings B-share Short Commencement Date A-share Short Name Name after for Implementation after Withdrawal Company Company Short Withdrawal of of Withdrawal Publication No of Delisting Risk Notes Code Name Delisting Risk of Delisting Risk Date Warnings Warnings Warnings

2010-06- 1 600076 *ST Huaguang 2010-06-08 ST Huaguang 2010-06-09 08 2010-06- 2 600234 *ST Tianlong 2010-06-08 ST Tianlong 2010-06-09 08 2010-06- 3 600421 *ST Guoyao 2010-06-09 ST Guoyao 2010-06-10 09 2010-06- 4 600130 *ST Bird 2010-06-29 ST Bird 2010-06-30 29 *ST King ST King 2010-06- 5 600340 2010-06-30 2010-07-01 Refrigeration Refrigeration 30 6 600890 *ST 2010-07-16 ST Credholding 2010-07-19 2010-07- Credholding 16

2011 Fact Book 125 Listed Companies

*ST Suntek ST Suntek 2010-09- 7 600728 2010-09-10 2010-09-13 Technology Technology 10 2010-11- 8 600506 *ST Korla Pear 2010-11-10 ST Korla Pear 2010-11-11 10

2011 Fact Book 126 Shanghai Securities Market

2011 Fact Book 127 Shanghai Securities Market

2011 Fact Book 128 Listed Warrants

Listed Warrants

Year-end Exercise Style Proportion Category Exercise Code Short Name (European style/ of Year-end Listing Date Expiry Date (call/put) Price American style) Exercise (RMB) 580016 Shanghai Call European Style 26.91 1.00 2008-1-8 2010-1-7 Automotive CWB1 580017 Ganyue Call European Style 10.04 2.00 2008-2-28 2010-2-27 Expressway CWB1 580019 Sinopec Call European Style 19.15 .50 2008-3-4 2010-3-3 CWB1 580022 GD power Call European Style 3.70 2.02 2008-5-22 2010-5-21 CWB1 580024 Baoshan Iron Call European Style 11.80 .50 2008-7-4 2010-7-3 & Steel CWB1 580025 Gezhou Call European Style 7.66 .59 2008-7-11 2010-1-10 CWB1 580026 Jiangxi Copper Call European Style 15.33 .25 2008-10- 2010-10-9 CWB1 10 580027 Changhong Call European Style 3.48 1.50 2009-8-19 2011-8-18 CWB1

2011 Fact Book 129 Listed Warrants

Listed Warrants (continued)

Annual Open Highest Close Year-end Lowest Deal (RMB Deal Number Liquidity Code Price Price Price Balance (RMB) Price(RMB) 10,000) (10,000) Change (RMB) (RMB) (RMB) Rate%

580016 222887410 0.00 0.00 0.00 0.11 0.00 0.00 0.00

580017 56366640 6.66 6.85 0.10 0.10 3739908.15 1143279.96 20271.54

580019 3029865110 1.52 1.52 0.00 0.00 16958306.55 35499479.22 11716.00

580022 398689606 2.96 2.97 0.02 0.03 12214393.84 9564274.76 22374.40

580024 1599903453 1.56 1.57 0.00 0.00 16349119.85 31731503.02 19832.19

580025 27052661 0.00 0.00 0.00 2.10 0.00 0.00 0.00

580026 88515228 5.25 5.56 1.98 2.78 66641150.97 19746490.49 11211.95

580027 573000000 3.07 3.41 2.03 2.53 28072952.55 9674879.68 16884.61

2011 Fact Book 130 Listed Warrants

2011 Fact Book 131 Listed Warrants

2011 Fact Book 132 Bond Market

Bond Market

In 2010, the bond market of SSE maintained a rapid and healthy development and achieved breakthrough growth in the number of listed bonds, amount of bond trusts and trading volume. By December 31, 2010, 478 types of cash bonds were listed on SSE at an amount of 549.577 billion yuan of trusts, an increase of 124 products from 2009, and up 111,977 billion yuan compared with that in 2009. Among them, there are 139 T-bonds with a trust amount of 187,651 billion yuan, 60 local treasury bonds, 254 corporate bonds with a trust amount of 204,484 billion yuan, 7 convertible bonds with a trust amount of 71.275 billion yuan, and 18 separately traded convertible bonds with a trust amount of 86,165 billion yuan on SSE. In 2010, the Ministry of Finance issued a total of 60 T-bonds and 10 local treasury bonds in SSE through cross markets. In SSE, 4 additional convertible bonds and 96 additional corporate bonds were issued, among which, 65 corporate bonds were approved for issuance by the National Development and Reform Commission, 4 corporate bonds were approved for issuance by the China Insurance Regulatory Commission (CIRC) while the issuance of 27 corporate bonds was approved by the CSRC. In terms of the secondary bond market, SSE T-Bond Index in 2010 sustained the upward trend of 2009, going up from 122.33 on January 4, 2010 to a high of 127.10 on August 16, 2010, followed shortly by going downside with fluctuations to 125.83, then going up slightly and closing at 126.30 on December 31, with a yearly low of 122.28 and a yearly high of 127.10, which was caused by policy factors such as the obvious trend of tightening monetary policy throughout 2010 and the increasing demand for funds. In 2010, SSE recorded a total turnover of 7.49 billion yuan for various bond transactions, a rise of 3.53 billion yuan from 2009 and up 88%, with a turnover of 162.738 billion yuan in T-bond spot transactions, a turnover of 149.486 billion yuan in corporate bond spot transactions, 130.020 billion yuan in convertible bond spot transactions, 51.204 billion yuan in the spot transactions of separately traded convertible bonds, and 6,997.952 billion yuan in bond repo transactions. SSE actively promoted the development of the bond market in 2010 specifically in the following aspects: 1. actively introducing new types of bond spot transactions, including corporate bonds of insurance companies and securities companies respectively approved by CIRC and CSRC; 2. providing transfer services for unlisted bonds in accordance with the relevant provisions of State laws and regulations; 3. commence the preparation for participation in SSE’s bond market by a large number of commercial banks in line with the unified arrangement of CSRC, including, among others, formulation of business rules, establishment of one-stop service teams for bonds and resumption and reduction of relevant bond fees; 4. achieving dual listing of T-bonds in which T-bonds only quoted on the fixed income platform since 2007 were dually listed and traded on the fixed income platform and the auction transaction system (including block trade system) on November 5, 2010. At present, bonds quoted on the fixed income platform mainly include low-rated corporate bonds and unlisted bonds such as corporate bonds of insurance companies and securities companies.

Up to December 31, 2010, the fixed income platform recorded a turnover of 139.345 billion yuan for the whole year, up 28% from 2009, with a daily average turnover of 600 million yuan. Among them, turnover of 82.017 billion yuan was recorded in T-bond transactions, 51.288 billion yuan in corporate bond transactions and 5.965 billion yuan in the transactions of separately traded convertible bonds.

2011 Fact Book 133 Bond Market

Conditions for Government Bond Listings

In accordance with the provisions of the Securities Law, stock exchanges shall arrange for the listing and trading of government bonds (G-bond) in accordance with decisions of departments authorized by the State Council.

Conditions for Enterprise Bond Listings

In accordance with the provisions of the Shanghai Stock Exchange Corporate Bond Listing Rules, enterprise bonds issued by unincorporated legal person entities shall be listed and traded by reference to the listing rules for corporate bonds.

Conditions for Corporate Bond Listings

Any issuer that applies for a bond listing shall satisfy the following conditions: (1) The bonds have been approved by the competent department and issued; (2) The term of the bonds is no less than one year; (3) The value of bonds actually issued is no less than RMB 50 million; (4) The bonds have been rated by a credit rating institution and the bonds have a good credit rating; (5) When applying for a bond listing, the issuer remains in conformity with the statutory conditions for issuing corporate bonds; and (6) Other conditions recognized by SSE.

Applications for Corporate Bond Listings

1. Any issuer that applies for a bond listing shall submit the following documents to SSE: (1) Bond listing application; (2) Documents from competent departments approving the bond issue; (3) A resolution approving the bond listing; (4) A recommendation letter for the bond listing; (5) Articles of Association; (6) Company Business License; (7) Bond offering method, issue announcement and issue information report; (8) The credit rating report for the bonds and a statement on follow-up rating arrangements; (9) Evidentiary documents on the value of bonds actually offered; (10) Listing particulars (for the content and format, see Appendix 2); (11) Audit reports for the issuer for the last three full accounting years issued by an accounting firm qualified to engage in securities business; (12) A statement on the credit standing of the guarantor and the guarantee agreement (if any); (13) A statement on whether the issuer has any record of legal or regulatory violations in the last three years; (14) A list of bondholders and a statement on bond custody arrangements; and

2011 Fact Book 134 Bond Market

(15) Other documents required by SSE. Listed companies that receive CSRC approval to issue corporate bonds may be exempted from aforesaid Items (5), (11), and (13). 2. Any issuer that applies for a bond listing shall ensure that the contents of documents submitted to SSE are authentic, accurate, and complete and do not include any false or misleading statement or material omission. 3. SSE adopts a listing recommendation system for the listing of bonds; bonds for which a listing application is made must be recommended by one to two institutions recognized by SSE, which shall issue a listing recommendation letter. 4. Listing sponsors shall meet the following requirements: (1) They are SSE members or of another institution recognized thereby; (2) They have no record of any serious legal or regulatory violations in the last year; (3) The main business personnel responsible for recommendation work shall be familiar with SSE regulations and relevant business rules; and (4) Other conditions SSE deems necessary. 5. Listing sponsors shall perform the following obligations: (1) To confirm that the bond issuer conforms to the listing conditions; (2) To ensure that the directors and senior management personnel of the issuer understand the nature of their responsibilities and assume the responsibilities specified in SSE listing rules and listing agreement; (3) To assist the bond issuer in applying for a bond listing; (4) To submit the listing recommendation letter to SSE; (5) To ensure that the listing documents are authentic, accurate and complete and conform to prescribed requirements, and that the materials included in the documents have been verified; (6) To assist the bond issuer in arranging the bond listing with the Stock Exchange; and (7) Other obligations to be performed by the listing sponsor as prescribed by SSE. 6. The listing sponsor shall ensure that the listing application materials, listing particulars and other relevant publicity materials do not include any false or misleading statement or material omission, and shall guarantee to assume joint and several liabilities therefor. 7. The listing sponsor may not conduct insider trading by taking advantage of inside information obtained in the course of the listing recommendation process to seek benefits for itself or for others. 8. In the event any listing sponsor fails to comply with the aforesaid provisions, SSE shall deal with the matter in accordance with relevant regulations.

Approval of Corporate Bond Listings

1. The listing committee established by SSE shall examine bond listing applications, make independent and professional judgments, and formulate examination opinions; SSE shall decide whether to approve the listing based on the opinion of the listing committee. 2. The bond issuer shall not, after filing the listing application and before the bond listing is approved, disclose relevant information without the consent of SSE. 3. The issuer and the listing sponsor must complete custody work for listed bonds with the custodian institution designated by SSE before the bonds are listed and traded, and shall submit the list of bondholders to the custodian institution designated by SSE after the same has been verified as correct. The issuer and the listing sponsor shall assume full responsibility for the accuracy of the list.

2011 Fact Book 135 Bond Market

4. Before bonds are listed and traded, the issuer shall announce the listing particulars in the information disclosure newspapers and periodicals designated by CSRC and/or on the SSE website, and shall make the listing particulars, approval documents, and relevant listing application documents available at designated venues for public reference. 5. Before listing bonds, the issuer shall conclude a listing agreement with SSE.

Public Issuance of Convertible Corporate Bonds by Listed Companies

In addition to satisfying the general provisions, convertible corporate bonds publicly issued to unspecified targets shall also conform to the following provisions: 1. The weighted average return on net assets for the last three accounting years shall be no lower than 6% on average. Net profit before or after deducting non-recurring profits and losses, whichever the lower, shall serve as the basis for calculating the weighted average return on net assets. 2. The total balance of corporate bonds after the present issue shall not exceed 40% of net assets at the end of the latest period. 3. The average annual distributable profits realized in the last three accounting years shall be no lower than one year’s interest on the corporate bonds. 4. The term for convertible corporate bonds shall be one year at the shortest and six years at the longest; the par value of each bond shall be RMB 100; the interest rate shall be determined through consultation between the issuing company and the lead underwriter, but must conform to relevant state provisions. 5. A qualified credit rating institution shall be appointed to conduct a credit rating and follow-up ratings, and the credit rating institution shall issue a follow-up rating report at least once a year. 6. The listed company shall, within five working days of the maturity of convertible corporate bonds, complete matters relating to the (re)payment of principal and interest on the bond balance. 7. Measures protecting the rights of bondholders, the rights of and procedures for bondholders’ meetings, and the conditions for resolutions to take effect shall be stipulated. 8. A guarantee shall be provided other than for companies with audited net assets of no less than RMB 1.5 billion at the end of the latest period. 9. Convertible corporate bonds shall not be converted into stock until six months after the issue completion date. The term for stock conversion shall be determined by the company based on the term of the convertible bonds and its financial situation. Bondholders shall have the option of converting or not converting their bonds into stock, and shall become shareholders of the issuing company on the day after the stock conversion. 10. The stock conversion price shall be no lower than the average company stock price for the 20 trading days before the announcement of the offering prospectus or than the average price on the previous day. 11. The offering prospectus may specify call provisions stipulating that the listed company may redeem convertible corporate bonds that have not been converted into stock in light of conditions and prices previously agreed upon. 12. The offering prospectus may specify put provisions stipulating that bondholders may sell their bonds back to the listed company in light of conditions and prices previously agreed upon. The offering prospectus shall stipulate that any bondholder is entitled to a one-off sell-back if the listed company changes the purpose for which funds are raised as announced in the prospectus.

2011 Fact Book 136 Bond Market

Public Issuance of Separately Traded Convertible Corporate Bonds by Listed Companies

In addition to satisfying the general provisions, public issues of separately traded convertible corporate bonds to unspecified targets shall also conform to the following provisions: 10. The audited net assets of the company at the end of the latest period shall be no lower than 1.5 billion RMB. 11. The average annual distributable profits realized in the last three accounting years shall be no lower than one year’s interest on the corporate bonds. 12. The net cash flow generated from operating activities in the last three accounting years shall on average be no lower than one year’s interest on the corporate bonds, other than for companies with a weighted average return on net assets for the last three accounting years of no lower than 6% on average. 13. The total balance of corporate bonds after the present issue shall not exceed 40% of net assets at the end of the latest period, and the estimated total amount of funds raised after the attached stock options have been completely exercised shall not exceed the balance of corporate bonds to be issued. 14. The term of separately traded convertible corporate bonds shall be one year at the shortest. 15. An application shall be made for separately traded convertible corporate bonds to be listed and traded on SSE where the listed company’s stock is listed. Where the corporate bonds and stock warrants included in the separately traded convertible corporate bonds respectively satisfy the listing conditions of SSE, they shall be listed separately. 16. Where stock warrants are listed for trading, the factors stipulated by the warrants shall include exercise price, valid term, exercise period or date, and exercise ratio. 17. The exercise price for the stock warrants shall be no lower than the average company stock price for the 20 trading days before the offering prospectus is announced or no lower than the average price on the previous trading day. 18. The valid term of the stock warrants shall neither exceed the term of the corporate bonds nor expire less than six months after the issue completion date. The valid term of the stock warrants as announced in the offer prospectus shall not be adjusted. 19. The stock warrants may not be exercised until at least six months after the issue completion date, and the exercise period shall be a period before expiry of the valid term or specific trading days within the valid term. 20. The offering prospectus for separately traded convertible corporate bonds shall stipulate that any bondholder is entitled to a one-off sell-back if the listed company changes the purpose for which funds are raised as announced in the prospectus.

2011 Fact Book 137 Bond Market

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Issuance quantity Issuance Interest accrual Interest Code Short Name (RMB 100 Listing date Maturity date Years method date rate million) 010004 20 T-bond (4) Book-entry 140.0000 2000-5-23 2000-6-2 2010-5-23 10.00 4.7600

010107 21 T-bond(7) Book-entry 239.6000 2001-7-31 2001-8-20 2021-7-31 20.00 4.2600

010110 21 T-bond(10) Book-entry 200.0000 2001-9-25 2001-10-11 2011-9-25 10.00 2.9500

010112 21 T-bond(12) Book-entry 200.0000 2001-10-30 2001-11-13 2011-10-30 10.00 3.0500

010203 02 T-bond(3) Book-entry 200.0000 2002-4-18 2002-4-29 2012-4-18 10.00 2.5400

010213 02 T-bond(13) Book-entry 240.0000 2002-9-20 2002-10-9 2017-9-20 15.00 2.6000

010301 03 T-bond(1) Book-entry 191.5500 2003-2-19 2003-2-26 2010-2-19 7.00 2.6600

010303 03 T-bond(3) Book-entry 260.0000 2003-4-17 2003-4-25 2023-4-17 20.00 3.4000

010307 03 T-bond(7) Book-entry 460.0000 2003-8-20 2003-9-1 2010-8-20 7.00 2.6600

010308 03 T-bond(8) Book-entry 163.8000 2003-9-17 2003-9-25 2013-9-17 10.00 3.0200

010311 03 T-bond(11) Book-entry 360.0000 2003-11-19 2003-12-2 2010-11-19 7.00 3.5000

010404 04 National Book-entry 367.5000 2004-5-25 2004-6-7 2011-5-25 7.00 4.8900 Bond(4) 010407 04 T-bond(7) Book-entry 312.9000 2004-8-25 2004-9-6 2011-8-25 7.00 4.7100

010410 04 T-bond(10) Book-entry 359.1000 2004-11-25 2004-12-6 2011-11-25 7.00 4.8600

010501 05 National Book-entry 300.0000 2005-2-28 2005-3-11 2015-2-28 10.00 4.4400 Bond(1) 010503 05 T-bond(3) Book-entry 333.9000 2005-4-26 2005-5-10 2010-4-26 5.00 3.3000

010504 05 T-bond(4) Book-entry 339.2000 2005-5-15 2005-5-25 2025-5-15 20.00 4.1100

010505 05 T-bond(5) Book-entry 337.8000 2005-5-25 2005-6-3 2012-5-25 7.00 3.3700

010509 05 T-bond(9) Book-entry 319.4000 2005-8-25 2005-9-5 2012-8-25 7.00 2.8300

010511 05 T-bond(11) Book-entry 333.5000 2005-10-20 2005-10-31 2010-10-20 5.00 2.1400

010512 05 T-bond(12) Book-entry 344.1000 2005-11-15 2005-11-24 2020-11-15 15.00 3.6500

010513 05 T-bond(13) Book-entry 328.4000 2005-11-25 2005-12-6 2012-11-25 7.00 3.0100

010601 06 T-bond(1) Book-entry 330.0000 2006-2-27 2006-3-8 2013-2-27 7.00 2.5100

2011 Fact Book 138 Bond Market

010603 06 T-bond(3) Book-entry 340.0000 2006-3-27 2006-4-5 2016-3-27 10.00 2.8000

010605 06 T-bond(5) Book-entry 308.0000 2006-5-16 2006-5-25 2011-5-16 5.00 2.4000

010606 06 T-bond(6) Book-entry 305.6000 2006-5-25 2006-6-5 2013-5-25 7.00 2.6200

010609 06 T-bond(9) Book-entry 310.9000 2006-6-26 2006-7-5 2026-6-26 20.00 3.7000

010612 06 T-bond(12) Book-entry 300.0000 2006-8-15 2006-8-24 2011-8-15 5.00 2.7200

010613 06 T-bond(13) Book-entry 331.0000 2006-8-31 2006-9-11 2013-8-31 7.00 2.8900

010616 06 T-bond(16) Book-entry 300.0000 2006-9-26 2006-10-9 2016-9-26 10.00 2.9200

010618 06 T-bond(18) Book-entry 300.0000 2006-10-25 2006-11-3 2011-10-25 5.00 2.4800

010619 06 T-bond(19) Book-entry 300.0000 2006-11-15 2006-11-23 2021-11-15 15.00 3.2700

010620 06 T-bond(20) Book-entry 345.9000 2006-11-27 2006-12-6 2013-11-27 7.00 2.9100

010701 07 T-bond01 Book-entry 300.0000 2007-2-6 2007-2-15 2014-2-6 7.00 2.9300

010703 07 T-bond03 Book-entry 300.0000 2007-3-22 2007-4-2 2017-3-22 10.00 3.4000

010704 07 T-bond04 Book-entry 306.0000 2007-4-16 2007-4-25 2010-4-16 3.00 2.7700

010705 07 T-bond05 Book-entry 300.0000 2007-4-23 2007-4-30 2012-4-23 5.00 3.1800

010706 07 T-bond06 Book-entry 300.0000 2007-5-17 2007-5-28 2037-5-17 30.00 4.2700

010707 07 T-bond07 Book-entry 337.8000 2007-5-24 2007-6-4 2014-5-24 7.00 3.7400

010710 07 T-bond10 Book-entry 350.7000 2007-6-25 2007-7-4 2017-6-25 10.00 4.4000

010713 07 T-bond13 Book-entry 280.0000 2007-8-16 2007-8-24 2027-8-16 20.00 4.5200

019001 10 T-bond01 Book-entry 260.0000 2010-1-28 2010-2-2 2012-1-28 2.00 2.0100

019002 10 T-bond02 Book-entry 260.0000 2010-2-4 2010-2-10 2020-2-4 10.00 3.4300

019003 10 T-bond03 Book-entry 240.0000 2010-3-1 2010-3-5 2040-3-1 30.00 4.0800

019004 10 T-bond04 Book-entry 260.0000 2010-3-4 2010-3-10 2011-3-4 1.00 1.4400

019005 10 T-bond05 Book-entry 260.0000 2010-3-11 2010-3-17 2017-3-11 7.00 2.9200

019006 10 T-bond06 Book-entry 260.0000 2010-3-18 2010-3-24 2013-3-18 3.00 2.2300

019007 10 T-bond07 Book-entry 260.0000 2010-3-25 2010-3-31 2020-3-25 10.00 3.3600

019008 10 T-bond08 Book-entry 280.4000 2010-4-8 2010-4-14 2015-4-8 5.00 2.7000

019009 10 T-bond09 Book-entry 280.0000 2010-4-15 2010-4-21 2030-4-15 20.00 3.9600

2011 Fact Book 139 Bond Market

019010 10 T-bond10 Book-entry 280.0000 2010-4-22 2010-4-28 2017-4-22 7.00 3.0100

019011 10 T-bond11 Book-entry 280.0000 2010-4-29 2010-5-6 2011-4-29 1.00 1.4900

019012 10 T-bond12 Book-entry 280.0000 2010-5-13 2010-5-19 2020-5-13 10.00 3.2500

019013 10 T-bond13 Book-entry 280.0000 2010-5-20 2010-5-26 2015-5-20 5.00 2.3800

019014 10 T-bond14 Book-entry 280.0000 2010-5-24 2010-5-28 2060-5-24 50.00 4.0300

019015 10 T-bond15 Book-entry 283.1000 2010-5-27 2010-6-2 2017-5-27 7.00 2.8300

019016 10 T-bond16 Book-entry 280.0000 2010-6-3 2010-6-9 2013-6-3 3.00 2.3300

019017 10 T-bond17 Book-entry 280.0000 2010-6-10 2010-6-18 2015-6-10 5.00 2.5300

019018 10 T-bond18 Book-entry 280.0000 2010-6-21 2010-6-25 2040-6-21 30.00 4.0300

019019 10 T-bond19 Book-entry 280.1000 2010-6-24 2010-6-30 2020-6-24 10.00 3.4100

019020 10 T-bond20 Book-entry 299.7000 2010-7-8 2010-7-14 2015-7-8 5.00 2.5200

019021 10 T-bond21 Book-entry 300.1000 2010-7-15 2010-7-21 2011-7-15 1.00 1.8700

019022 10 T-bond22 Book-entry 281.9000 2010-7-22 2010-7-28 2017-7-22 7.00 2.7600

019023 10 T-bond23 Book-entry 280.0000 2010-7-29 2010-8-4 2040-7-29 30.00 3.9600

019024 10 T-bond24 Book-entry 304.4000 2010-8-5 2010-8-11 2020-8-5 10.00 3.2800

019025 10 T-bond25 Book-entry 280.0000 2010-8-12 2010-8-18 2013-8-12 3.00 2.3000

019026 10 T-bond26 Book-entry 280.0000 2010-8-16 2010-8-20 2040-8-16 30.00 3.9600

019027 10 T-bond27 Book-entry 280.0000 2010-8-19 2010-8-25 2017-8-19 7.00 2.8100

019028 10 T-bond28 Book-entry 282.2000 2010-8-26 2010-9-1 2015-8-26 5.00 2.5800

019029 10 T-bond29 Book-entry 280.0000 2010-9-2 2010-9-8 2030-9-2 20.00 3.8200

019030 10 T-bond30 Book-entry 205.4000 2010-9-9 2010-9-15 2011-9-9 1.00 1.8700

019031 10 T-bond31 Book-entry 282.6000 2010-9-16 2010-9-21 2020-9-16 10.00 3.2900

019032 10 T-bond32 Book-entry 287.1000 2010-10-14 2010-10-20 2017-10-14 7.00 3.1000

019033 10 T-bond33 Book-entry 280.0000 2010-10-21 2010-10-27 2015-10-21 5.00 2.9100

019034 10 T-bond34 Book-entry 280.0000 2010-10-28 2010-11-3 2020-10-28 10.00 3.6700

019035 10 T-bond35 Book-entry 280.0000 2010-11-4 2010-11-10 2013-11-4 3.00 2.6800

019036 10 T-bond36 Book-entry 282.1000 2010-11-11 2010-11-17 2011-11-11 1.00 2.1500

2011 Fact Book 140 Bond Market

019037 10 T-bond37 Book-entry 280.0000 2010-11-18 2010-11-24 2060-11-18 50.00 4.4000

019038 10 T-bond38 Book-entry 306.4000 2010-11-25 2010-12-1 2017-11-25 7.00 3.8300

019039 10 T-bond39 Book-entry 321.4000 2010-12-2 2010-12-8 2015-12-2 5.00 3.6400

019040 10 T-bond40 Book-entry 280.0000 2010-12-9 2010-12-15 2040-12-9 30.00 4.2300

019041 10 T-bond41 Book-entry 307.8000 2010-12-16 2010-12-22 2020-12-16 10.00 3.7700

019711 07 T-bond11 Book-entry 679.6000 2007-7-16 2007-7-25 2010-7-16 3.00 3.5300

019714 07 T-bond14 Book-entry 326.9000 2007-8-23 2007-8-31 2014-8-23 7.00 3.9000

019717 07 T-bond17 Book-entry 280.0000 2007-10-22 2007-10-29 2012-10-22 5.00 4.0000

019718 07 T-bond18 Book-entry 324.7000 2007-11-26 2007-12-5 2014-11-26 7.00 4.3500

019801 08 T-bond01 Book-entry 289.7000 2008-2-13 2008-2-21 2015-2-13 7.00 3.9500

019802 08 T-bond02 Book-entry 280.0000 2008-2-28 2008-3-6 2023-2-28 15.00 4.1600

019803 08 T-bond03 Book-entry 279.4000 2008-3-20 2008-3-28 2018-3-20 10.00 4.0700

019804 08 T-bond04 Book-entry 260.0000 2008-4-14 2008-4-21 2011-4-14 3.00 3.5600

019805 08 T-bond05 Book-entry 280.0000 2008-4-21 2008-4-28 2013-4-21 5.00 3.6900

019806 08 T-bond06 Book-entry 280.0000 2008-5-8 2008-5-16 2038-5-8 30.00 4.5000

019807 08 T-bond07 Book-entry 271.5000 2008-5-19 2008-5-26 2015-5-19 7.00 4.0100

019810 08 T-bond10 Book-entry 266.5000 2008-6-23 2008-7-1 2018-6-23 10.00 4.4100

019811 08 T-bond11 Book-entry 245.9000 2008-7-14 2008-7-21 2011-7-14 3.00 3.9200

019813 08 T-bond13 Book-entry 240.0000 2008-8-11 2008-8-18 2028-8-11 20.00 4.9400

019814 08 T-bond14 Book-entry 266.0000 2008-8-18 2008-8-25 2015-8-18 7.00 4.2300

019817 08 T-bond17 Book-entry 260.0000 2008-9-16 2008-9-22 2013-9-16 5.00 3.6900

019818 08 T-bond18 Book-entry 243.6000 2008-9-22 2008-9-26 2018-9-22 10.00 3.6800

019819 08 T-bond19 Book-entry 233.8000 2008-10-13 2008-10-17 2011-10-13 3.00 2.6400

019820 08 T-bond20 Book-entry 240.0000 2008-10-23 2008-10-31 2038-10-23 30.00 3.9100

019822 08 T-bond22 Book-entry 225.0000 2008-11-24 2008-11-28 2015-11-24 7.00 2.7100

019823 08 T-bond23 Book-entry 240.0000 2008-11-27 2008-12-4 2023-11-27 15.00 3.6200

019825 08 T-bond25 Book-entry 253.7000 2008-12-15 2008-12-19 2018-12-15 10.00 2.9000

2011 Fact Book 141 Bond Market

019826 08 T-bond26 Book-entry 260.0000 2008-12-18 2008-12-24 2013-12-18 5.00 1.7700

019901 09 T-bond01 Book-entry 269.3000 2009-2-12 2009-2-18 2016-2-12 7.00 2.7600

019902 09 T-bond02 Book-entry 220.0000 2009-2-19 2009-2-25 2029-2-19 20.00 3.8600

019903 09 T-bond03 Book-entry 260.0000 2009-3-12 2009-3-18 2019-3-12 10.00 3.0500

019904 09 T-bond04 Book-entry 564.3000 2009-4-2 2009-4-9 2014-4-2 5.00 2.2900

019905 09 T-bond05 Book-entry 220.0000 2009-4-9 2009-4-16 2039-4-9 30.00 4.0200

019906 09 T-bond06 Book-entry 252.1000 2009-4-16 2009-4-22 2016-4-16 7.00 2.8200

019907 09 T-bond07 Book-entry 277.6000 2009-5-7 2009-5-13 2019-5-7 10.00 3.0200

019908 09 T-bond08 Book-entry 285.9000 2009-5-14 2009-5-20 2010-5-14 1.00 0.8900

019909 09 T-bond09 Book-entry 273.0000 2009-5-21 2009-5-27 2012-5-21 3.00 1.5500

019910 09 T-bond10 Book-entry 295.0000 2009-6-4 2009-6-10 2014-6-4 5.00 2.2600

019911 09 T-bond11 Book-entry 280.0000 2009-6-11 2009-6-17 2024-6-11 15.00 3.6900

019912 09 T-bond12 Book-entry 282.7000 2009-6-18 2009-6-24 2019-6-18 10.00 3.0900

019913 09 T-bond13 Book-entry 280.0000 2009-6-25 2009-7-1 2016-6-25 7.00 2.8200

019914 09 T-bond14 Book-entry 275.2000 2009-7-9 2009-7-15 2010-7-9 1.00 1.0600

019915 09 T-bond15 Book-entry 280.0000 2009-7-16 2009-7-22 2012-7-16 3.00 2.2200

019916 09 T-bond16 Book-entry 283.0000 2009-7-23 2009-7-29 2019-7-23 10.00 3.4800

019917 09 T-bond17 Book-entry 260.0000 2009-7-30 2009-8-5 2016-7-30 7.00 3.1500

019918 09 T-bond18 Book-entry 275.8000 2009-8-6 2009-8-12 2014-8-6 5.00 2.9700

019919 09 T-bond19 Book-entry 267.3000 2009-8-20 2009-8-26 2016-8-20 7.00 3.1700

019920 09 T-bond20 Book-entry 260.0000 2009-8-27 2009-9-2 2029-8-27 20.00 4.0000

019921 09 T-bond21 Book-entry 285.4000 2009-9-3 2009-9-9 2010-9-3 1.00 1.4600

019922 09 T-bond22 Book-entry 268.6000 2009-9-10 2009-9-16 2012-9-10 3.00 2.1800

019923 09 T-bond23 Book-entry 266.4000 2009-9-17 2009-9-23 2019-9-17 10.00 3.4400

019924 09 T-bond24 Book-entry 268.0000 2009-9-24 2009-9-30 2014-9-24 5.00 2.9000

019925 09 T-bond25 Book-entry 240.0000 2009-10-15 2009-10-21 2039-10-15 30.00 4.1800

019926 09 T-bond26 Book-entry 274.9000 2009-10-22 2009-10-28 2016-10-22 7.00 3.4000

2011 Fact Book 142 Bond Market

019927 09 T-bond27 Book-entry 272.4000 2009-11-5 2009-11-11 2019-11-5 10.00 3.6800

019928 09 T-bond28 Book-entry 273.4000 2009-11-12 2009-11-18 2010-11-12 1.00 1.4400

019929 09 T-bond29 Book-entry 276.3000 2009-11-19 2009-12-11 2012-11-19 3.00 2.4200

019930 09 T-bond30 Book-entry 200.0000 2009-11-30 2009-12-11 2059-11-30 50.00 4.3000

019931 09 T-bond31 Book-entry 273.9000 2009-12-3 2009-12-9 2014-12-3 5.00 2.9000

019932 09 T-bond32 Book-entry 271.2000 2009-12-17 2009-12-23 2016-12-17 7.00 3.2200

020002 09 Discounted Book-entry 200.0000 2009-4-13 2009-4-17 2010-1-11 .75 0.0000 Bond 02 020009 09 Discounted Book-entry 200.0000 2009-6-8 2009-6-12 2010-3-8 .75 0.0000 Bond 09 020013 09 Discounted Book-entry 126.5000 2009-7-13 2009-7-17 2010-4-12 .75 0.0000 Bond 13 020014 09 Discounted Book-entry 185.1000 2009-7-20 2009-7-24 2010-1-18 .50 0.0000 Bond 14 020016 09 Discounted Book-entry 150.0000 2009-8-10 2009-8-14 2010-5-10 .75 0.0000 Bond 16 020017 09 Discounted Book-entry 150.0000 2009-8-24 2009-8-28 2010-2-22 .50 0.0000 Bond 17 020019 09 Discounted Book-entry 150.0000 2009-9-7 2009-9-11 2010-6-7 .75 0.0000 Bond 19 020020 09 Discounted Book-entry 150.0000 2009-9-21 2009-9-25 2010-3-22 .50 0.0000 Bond 20 020021 09 Discounted Book-entry 150.0000 2009-10-12 2009-10-16 2010-1-11 .25 0.0000 Bond 21 020022 09 Discounted Book-entry 150.0000 2009-10-26 2009-10-30 2010-4-26 .50 0.0000 Bond 22 020023 09 Discounted Book-entry 150.0000 2009-11-9 2009-11-13 2010-2-8 .25 0.0000 Bond 23 020024 09 Discounted Book-entry 150.0000 2009-11-23 2009-12-11 2010-8-23 .75 0.0000 Bond 24 020025 09 Discounted Book-entry 150.0000 2009-12-7 2009-12-11 2010-3-8 .25 0.0000 Bond 25 020026 09 Discounted Book-entry 150.0000 2009-12-21 2009-12-25 2010-6-21 .50 0.0000 Bond 26 020027 10 Discounted Book-entry 142.5000 2010-4-12 2010-4-16 2010-7-12 .25 0.0000 Bond 01 020028 10 Discounted Book-entry 158.1000 2010-4-12 2010-4-16 2011-1-10 .75 0.0000 Bond 02 020029 10 Discounted Book-entry 150.0000 2010-4-19 2010-4-23 2010-10-18 .50 0.0000 Bond 03 020030 10 Discounted Book-entry 150.0000 2010-5-17 2010-5-21 2010-11-15 .50 0.0000 Bond 04

2011 Fact Book 143 Bond Market

020031 10 Discounted Book-entry 173.7000 2010-5-17 2010-5-21 2011-2-14 .75 0.0000 Bond 05 020032 10 Discounted Book-entry 114.5000 2010-6-14 2010-6-22 2010-9-13 .25 0.0000 Bond 06 020033 10 Discounted Book-entry 177.5000 2010-6-14 2010-6-22 2011-3-14 .75 0.0000 Bond 07 020034 10 Discounted Book-entry 200.0000 2010-7-12 2010-7-16 2011-1-10 .50 0.0000 Bond 08 020035 10 Discounted Book-entry 200.0000 2010-7-26 2010-7-30 2011-1-24 .50 0.0000 Bond 09 020036 10 Discounted Book-entry 100.0000 2010-8-9 2010-8-13 2011-5-9 .75 0.0000 Bond 10 020037 10 Discounted Book-entry 200.0000 2010-8-23 2010-8-27 2011-2-21 .50 0.0000 Bond 11 020038 10 Discounted Book-entry 100.0000 2010-9-13 2010-9-17 2010-12-13 .25 0.0000 Bond 12 020039 10 Discounted Book-entry 200.0000 2010-9-20 2010-9-27 2011-3-21 .50 0.0000 Bond 13 020040 10 Discounted Book-entry 280.0000 2010-10-25 2010-10-29 2011-1-24 .25 0.0000 Bond 14 020041 10 Discounted Book-entry 280.0000 2010-11-1 2010-11-5 2011-1-31 .25 0.0000 Bond 15 020042 10 Discounted Book-entry 100.0000 2010-11-15 2010-11-19 2011-5-16 .50 0.0000 Bond 16 020043 10 Discounted Book-entry 115.5000 2010-11-29 2010-12-3 2011-2-28 .25 0.0000 Bond 17 020044 10 Discounted Book-entry 100.0000 2010-12-13 2010-12-17 2011-9-12 .75 0.0000 Bond 18 020045 10 Discounted Book-entry 167.6000 2010-12-27 2010-12-31 2011-3-28 .25 0.0000 Bond 19 130000 09 Xinjiang 01 30.0000 2009-3-30 2009-4-3 2012-3-30 3.00 1.6100

130001 09 Anhui01 40.0000 2009-4-1 2009-4-8 2012-4-1 3.00 1.6000

130002 09 Henan 01 50.0000 2009-4-7 2009-4-13 2012-4-7 3.00 1.6300

130003 09 Sichuan 01 90.0000 2009-4-8 2009-4-14 2012-4-8 3.00 1.6500

130004 09 Chongqing 58.0000 2009-4-13 2009-4-17 2012-4-13 3.00 1.7000 Bond 130005 09 Liaoning 01 30.0000 2009-4-14 2009-4-20 2012-4-14 3.00 1.7500

130006 09 Tianjin Bond 26.0000 2009-4-14 2009-4-20 2012-4-14 3.00 1.7800

130007 09 Shandong 30.0000 2009-4-16 2009-4-22 2012-4-16 3.00 1.8000 01 130008 0 9 Jiangsu 84.0000 2009-4-20 2009-4-24 2012-4-20 3.00 1.8200 Bond

2011 Fact Book 144 Bond Market

130009 09 Jilin 01 30.0000 2009-4-23 2009-4-29 2012-4-23 3.00 1.8200

130010 09 Qingdao 11.0000 2009-4-23 2009-4-29 2012-4-23 3.00 1.8200 Bond 130011 09 Hubei 01 50.0000 2009-4-23 2009-4-29 2012-4-23 3.00 1.8200

130012 0 9 Qinghai 29.0000 2009-4-23 2009-4-29 2012-4-23 3.00 1.8200 Bond 130013 09 Hebei 01 40.0000 2009-4-30 2009-5-7 2012-4-30 3.00 1.8000

130014 09 Neimeng 30.0000 2009-4-30 2009-5-7 2012-4-30 3.00 1.8000 01 130015 09 Shaanxi 01 36.0000 2009-4-30 2009-5-7 2012-4-30 3.00 1.8000

130016 09 Longjiang 30.0000 2009-5-11 2009-5-15 2012-5-11 3.00 1.7700 01 130017 0 9 Y unnan 84.0000 2009-5-11 2009-5-15 2012-5-11 3.00 1.7700 Bond 130018 09 Zhejiang 01 40.0000 2009-5-11 2009-5-15 2012-5-11 3.00 1.7700

130019 09 Dalian Bond 10.0000 2009-5-14 2009-5-20 2012-5-14 3.00 1.7100

130020 09 Sichuan 02 90.0000 2009-5-14 2009-5-20 2012-5-14 3.00 1.7100

130021 09 Hubei 02 31.0000 2009-5-14 2009-5-20 2012-5-14 3.00 1.7100

130022 09 Guangxi 01 35.0000 2009-5-25 2009-6-2 2012-5-25 3.00 1.6700

130023 0 9 Beijing 56.0000 2009-5-25 2009-6-2 2012-5-25 3.00 1.6700 Bond 130024 09 Shanghai 40.0000 2009-5-25 2009-6-2 2012-5-25 3.00 1.6700 01 130025 09 Henan 02 38.0000 2009-5-25 2009-6-2 2012-5-25 3.00 1.6700

130026 0 9 Hunan 82.0000 2009-6-9 2009-6-15 2012-6-9 3.00 1.7000 Bond 130027 09 Fujian Bond 26.0000 2009-6-9 2009-6-15 2012-6-9 3.00 1.7000

130028 0 9 Ningxia 30.0000 2009-6-9 2009-6-15 2012-6-9 3.00 1.7000 Bond 130029 0 9 Jiangxi 62.0000 2009-6-15 2009-6-19 2012-6-15 3.00 1.7200 Bond 130030 0 9 Guizhou 37.0000 2009-6-15 2009-6-19 2012-6-15 3.00 1.7200 Bond 130031 09 Anhui 02 64.0000 2009-6-15 2009-6-19 2012-6-15 3.00 1.7200

130032 09 Guangdong 85.0000 2009-6-23 2009-6-29 2012-6-23 3.00 1.7500 Bond 130033 0 9 Xiamen 8.0000 2009-6-23 2009-6-29 2012-6-23 3.00 1.7500 Bond

2011 Fact Book 145 Bond Market

130034 0 9 Hainan 29.0000 2009-6-23 2009-6-29 2012-6-23 3.00 1.7500 Bond 130035 0 9 Shanxi 53.0000 2009-6-29 2009-7-3 2012-6-29 3.00 1.7600 Bond 130036 09 Gansu Bond 65.0000 2009-6-29 2009-7-3 2012-6-29 3.00 1.7600

130037 0 9 Ningbo 15.0000 2009-7-7 2009-7-13 2012-7-7 3.00 1.7900 Bond 130038 09 Shenzhen 24.0000 2009-7-7 2009-7-13 2012-7-7 3.00 1.7900 Bond 130039 09 Xinjiang 02 25.0000 2009-7-7 2009-7-13 2012-7-7 3.00 1.7900

130040 09 Shandong 29.0000 2009-7-7 2009-7-13 2012-7-7 3.00 1.7900 02 130041 09 Liaoning 02 26.0000 2009-7-7 2009-7-13 2012-7-7 3.00 1.7900

130042 09 Jilin 02 25.0000 2009-8-31 2009-9-4 2012-8-31 3.00 2.3600

130043 09 Guangxi 02 30.0000 2009-8-31 2009-9-4 2012-8-31 3.00 2.3600

130044 09 Longjiang 30.0000 2009-8-31 2009-9-4 2012-8-31 3.00 2.3600 02 130045 09 Neimeng 27.0000 2009-8-31 2009-9-4 2012-8-31 3.00 2.3600 02 130046 09 Hebei 02 20.0000 2009-9-7 2009-9-11 2012-9-7 3.00 2.2400

130047 09 Shanghai 36.0000 2009-9-7 2009-9-11 2012-9-7 3.00 2.2400 02 130048 09 Zhejiang 02 27.0000 2009-9-7 2009-9-11 2012-9-7 3.00 2.2400

130049 09 Shaanxi 02 27.0000 2009-9-7 2009-9-11 2012-9-7 3.00 2.2400

130050 10 Local Bond 286.0000 2010-6-21 2010-6-28 2013-6-21 3.00 2.7700 01 130051 10 Local Bond 152.0000 2010-6-21 2010-6-28 2015-6-21 5.00 2.9000 02 130052 10 Local Bond 232.0000 2010-7-19 2010-7-23 2013-7-19 3.00 2.3300 03 130053 10 Local Bond 284.0000 2010-8-10 2010-8-16 2013-8-10 3.00 2.3700 04 130054 10 Local Bond 186.0000 2010-8-10 2010-8-16 2015-8-10 5.00 2.6700 05 130055 10 Local Bond 195.0000 2010-8-24 2010-8-30 2013-8-24 3.00 2.3700 06 130056 10 Local Bond 206.0000 2010-9-7 2010-9-13 2013-9-7 3.00 2.3600 07 130057 10 Local Bond 152.0000 2010-9-7 2010-9-13 2015-9-7 5.00 2.6700 08 130058 10 Local Bond 181.0000 2010-11-15 2010-11-19 2013-11-15 3.00 3.2300 09 130059 10 Local Bond 126.0000 2010-11-15 2010-11-19 2015-11-15 5.00 3.7000 10

2011 Fact Book 146 Bond Market

Summary of Corporate Bonds in 2010(Including Convertible Bond)

Size of Issuance Opening Closing High Low Turnover Code Short Name Date of Maturity (RMB100 (RMB) (RMB) (RMB) (RMB) (RMB 10,000) million 110003 Xinyu Steel 27.60 2013-8-20 137.60 115.84 138.97 104.00 691292.63

110004 XGMA 6.00 2014-8-28 141.70 139.51 156.50 120.50 241340.91

110005 Atlantic 2.65 2014-9-3 148.00 130.57 159.00 122.00 65670.01

110006 Longsheng 12.50 2014-9-14 152.28 129.07 160.10 123.87 147383.53

110007 Bohui 9.75 2014-9-23 132.78 118.50 140.00 106.09 201777.74

110008 Wangfujing 8.21 2015-10-19 143.97 132.16 148.72 122.10 232023.35

110009 Shuangliang 7.20 2015-5-4 120.58 127.99 135.00 111.00 184924.96 Convertible Bond 110011 Gehua Convertible 16.00 2016-11-25 127.00 122.94 128.50 122.01 174990.37 Bond 110078 Chengxing 4.40 2012-5-10 129.40 122.43 142.36 111.20 75331.94

110567 Shanying 4.70 2012-9-5 140.02 152.67 185.46 140.01 38936.39

110598 Heilongjiang 15.00 2012-12-19 163.55 138.96 165.94 134.56 49757.22 Agriculture 113001 BOC Convertible 400.00 2016-6-2 101.00 110.09 117.00 99.90 6940710.51 Bond 113002 ICBC Convertible 250.00 2016-8-31 110.00 118.27 130.84 109.81 3957865.17 Bond 120101 01 China Mobile 50.00 2011-6-17 101.32 100.33 109.01 99.02 9038.23

120102 01 Three Gorges 30.00 2016-11-8 101.00 100.55 105.55 100.00 2099.21

120201 02 Three Gorges 50.00 2022-9-20 95.96 96.00 101.34 95.34 2731.53

120203 &KLQD0RELOH 50.00 2017-10-27 100.00 100.42 108.50 89.99 645.43

120204 02 Jiangsu 15.00 2017-12-11 99.99 100.35 108.88 98.76 688.40 Communication 120205 02 Chongqing City 15.00 2012-12-8 100.20 99.14 106.50 98.41 13038.23 Construction 120288 002 Jinmao 10.00 2012-4-28 101.90 101.50 112.40 93.00 8022.02

120301 03 Shanghai Rail 40.00 2018-2-19 96.53 98.96 112.02 90.29 1879.12

2011 Fact Book 147 Bond Market

120302 03 Suzhou 10.00 2013-7-17 99.00 104.24 108.10 93.13 1498.75 Development Zone 120303 03 Three Gorges 30.00 2033-7-31 97.51 100.50 114.00 94.21 1963.73

120304 03 Power 30.00 2013-12-30 101.50 99.78 107.51 96.11 1546.68

120305 03 Power 20.00 2013-12-30 100.00 99.60 103.50 99.11 3643.72

120306 03 China Power 30.00 2018-12-7 102.40 102.51 116.06 97.44 1014.20 Investment 120307 03 Pudong 15.00 2013-1-12 100.15 100.70 115.00 98.00 2433.75 Development 120308 03 Huhangyong 10.00 2013-1-23 100.00 100.10 104.00 95.00 3061.89

120309 03 Jiangsu 18.00 2013-11-20 100.30 99.98 108.91 95.00 2018.65 Communication 120310 03 China Netcom 40.00 2013-12-3 100.00 99.31 111.00 93.50 1321.29

120311 03 China Netcom 10.00 2013-12-3 99.81 101.00 102.90 99.38 6675.87

120482 04 China General 10.00 2014-3-30 99.00 99.56 100.54 90.00 1021.94

120483 04 China Petroleum 35.00 2014-2-23 100.20 99.55 106.00 96.00 751.04

120485 04 Guodian (1) 24.44 2014-9-21 102.00 101.00 107.00 98.03 1009.78

120486 04 Guodian (2) 15.56 2019-9-21 101.01 104.95 113.04 100.01 49.15

120488 Beijing Metro 20.00 2014-12-14 103.00 104.00 107.96 102.82 757.25

120489 04 South China Grid 10.00 2014-9-16 102.00 100.90 109.00 100.00 485.26 (1) 120490 04 South China Grid 20.00 2019-9-16 0.00 82.83 0.00 0.00 0.00 (2) 120501 05 Shenergy 10.00 2015-2-1 103.98 103.50 113.09 102.05 518.73

120502 05 Suzhou Yuan 12.00 2015-5-18 103.50 99.88 109.91 99.20 43.41 Construction 120503 05 Chongqing Water 17.00 2015-4-25 99.00 101.73 121.73 99.00 26.69

120505 05 China Power 20.00 2015-6-29 98.50 99.99 103.00 98.50 26.42

120506 05 Datang 30.00 2020-4-28 100.20 108.00 128.00 100.00 213.16

120508 05 Rail 50.00 2020-7-28 103.99 98.74 108.03 93.00 158.13

120509 05 State Grid (1) 30.00 2015-7-7 103.00 98.01 115.21 91.20 588.43

120510 05 State Grid (2) 10.00 2015-7-7 99.98 101.20 116.18 99.50 1055.18

120511 05 Shanghai 20.00 2015-7-26 99.01 99.94 106.00 93.50 13.22 Construction (1)

2011 Fact Book 148 Bond Market

120512 05 Shanghai 10.00 2020-7-26 95.60 110.11 110.60 95.60 23.11 Construction (2) 120516 05 China Power 20.00 2015-7-11 99.30 102.80 102.97 96.31 86.71 Investment 120517 05 Beijing Power (1) 15.00 2010-7-5 100.63 100.20 101.58 90.01 431.01

120518 05 Beijing Power (2) 5.00 2012-7-5 98.53 99.98 103.50 93.80 26.99

120519 05 Huaneng 20.00 2015-7-4 100.00 101.63 101.63 100.00 93.14

120520 05 Hangzhou Urban 10.00 2015-6-19 97.07 99.78 102.59 97.07 261.58 Construction 120521 05 Air China 30.00 2015-9-6 97.47 100.20 115.20 97.47 285.13

120522 05 Railcom 10.00 2015-8-17 98.00 100.00 106.00 98.00 93.88

120523 05 Fujian 20.00 2015-6-9 101.00 101.76 101.76 98.00 142.13 Expressway 120525 05 China Nuclear (1) 10.00 2015-7-21 118.98 103.55 118.98 98.01 57.05

120527 05 Wuhan Urban 10.00 2020-12-25 104.90 93.50 104.90 93.01 67.81 Investment 120528 05 World Expo 15.00 2012-12-27 99.01 99.80 107.93 90.01 1955.27

120529 05 Ningxia Coal 10.00 2020-9-15 100.00 95.36 105.88 95.00 64.47

120601 06 Datang 20.00 2026-2-15 93.46 96.49 101.79 86.00 675.45

120602 06 Hebei 10.00 2026-3-27 90.73 95.50 112.05 85.01 349.95 Construction 120603 06 China Aerospace 20.00 2021-4-17 94.00 94.74 105.00 92.05 2207.44

120604 06 State Grid (1) 10.00 2016-5-28 94.07 95.68 100.00 93.00 603.46

120605 06 Three Gorges 30.00 2026-5-10 85.30 86.96 94.24 85.01 79147.35

120606 06 Zhangjiang 6.00 2013-5-18 99.20 102.00 106.00 95.50 1762.05

120607 06 Shanghai Water 15.00 2021-6-28 98.10 98.70 104.00 90.00 85.02

120608 06 Shandong 10.00 2026-4-6 89.01 89.00 99.79 89.00 395.38 Expressway 120609 06 Jiangxi 8.00 2021-9-10 88.00 94.90 99.53 84.00 81.61 Investment 120610 06 Hefei Urban 10.00 2016-9-19 0.00 137.11 0.00 0.00 0.00 Construction Development 120701 07 World Expo (1) 20.00 2017-2-14 95.00 95.98 105.00 90.00 90.11

120702 07 World Expo 20.00 2022-2-14 95.50 93.29 103.50 90.00 217.82

2011 Fact Book 149 Bond Market

122000 07 Yangtze Powe 40.00 2017-9-24 101.65 101.50 109.99 99.00 86611.86

122001 07 Offshore Oil 12.00 2017-11-9 102.91 121.00 121.00 100.00 17197.68 Engineering 122002 07 Huaneng G1 10.00 2012-12-25 101.89 109.20 110.40 98.00 1631.53

122003 07 Huaneng G2 17.00 2014-12-25 101.59 109.48 113.50 95.00 182.98

122004 07 Huaneng G3 33.00 2017-12-25 107.00 111.00 119.77 101.11 8557.65

122005 08 Vanadium and 13.00 2013-2-28 105.26 104.00 117.00 102.11 223416.81 Titanium 122006 08 Gemdale 12.00 2016-3-10 100.01 105.80 105.95 99.96 4481.93

122007 08 Laiwu Steel 20.00 2018-3-25 104.02 106.78 108.20 101.00 219793.34

122008 08 Huaneng G1 40.00 2018-5-8 98.01 102.00 107.00 98.01 2411.73

122009 08 Xinhu 14.00 2016-7-2 106.60 108.42 114.23 100.20 584970.62

122010 08 Jiangsu 11.00 2011-7-28 103.45 101.00 106.98 100.01 129621.78 Expressway 122011 08 Kingfa 10.00 2013-7-24 103.90 105.96 111.83 103.85 325748.38

122012 08 Poly 43.00 2013-7-11 106.55 106.99 110.50 100.00 339220.53

122013 08 North Star 17.00 2013-7-18 107.20 106.98 112.50 105.51 251578.38

122014 09 Yuyuan 5.00 2014-7-17 100.80 103.88 107.00 98.46 56369.11

122015 09 Yangtze Power 35.00 2019-7-30 96.48 99.69 102.00 95.50 4198.46

122016 09 China National 25.00 2016-7-29 98.40 101.50 105.00 98.40 40282.33 Materials 122017 09 Datang 30.00 2019-8-17 95.61 98.55 109.55 95.00 526.35

122018 09 China 21.00 2014-8-21 0.00 99.80 0.00 0.00 10364.00 Communications Construction G1 122019 09 China 79.00 2019-8-21 107.45 100.55 107.45 100.55 0.21 Communications G2 122020 09 Forte Land 19.00 2014-9-22 101.35 104.79 108.19 95.00 423144.24

122021 09 Guanghui 10.00 2016-8-26 97.80 105.90 109.90 97.46 352380.31

122022 09 Chengtou 20.00 2014-9-11 0.00 100.00 0.00 0.00 0.00

122023 09 Wanye 10.00 2014-9-17 101.32 104.99 108.00 100.50 174483.60

122024 09 Guoyang 14.00 2014-9-15 100.27 108.08 108.08 100.00 24834.62

122025 09 Beijing Capital 10.00 2014-9-24 102.00 112.00 112.00 98.50 107815.87 Land

2011 Fact Book 150 Bond Market

122026 09 Foton 10.00 2014-9-23 100.27 100.00 103.00 99.02 10962.59

122027 09 Beijing Urban 9.00 2016-9-28 102.70 108.00 108.00 98.00 105264.70 Construction 122028 09 Huafa 18.00 2017-10-16 101.40 104.75 108.05 101.06 256546.21

122029 09 Vantone 10.00 2014-10-14 103.19 105.39 107.58 103.00 170044.95

122030 09 Beijing Hualian 7.00 2015-11-2 101.10 102.50 104.50 101.00 128540.00 Department Store 122031 09 Tianjin Realty 3.00 2012-10-19 103.19 104.38 120.50 101.36 56790.19

122032 09 Tunnel 14.00 2016-10-21 100.14 101.60 104.90 99.99 11132.60

122033 09 R&F Properties 55.00 2014-10-23 103.20 104.70 107.00 101.80 1342525.84

122034 09 China Enterprise 12.00 2014-10-27 104.50 108.00 120.00 100.50 55926.91

122035 09 Suzhou Hi-Tech 10.00 2014-11-9 100.79 101.35 103.90 93.90 115366.93

122036 09 Shanghai 20.00 2014-12-9 101.00 102.50 109.33 98.80 143431.17 Zhangjiang 122037 09 Sanyou 9.60 2017-11-26 100.50 103.50 105.00 100.50 403576.75

122038 09 Xingang Hi-tech 10.00 2014-12-8 100.00 101.59 105.00 99.68 24977.66

122039 09 Anhui Expressway 20.00 2014-12-17 100.00 104.55 104.55 100.00 34900.67

122040 09 New Huang Pu 10.00 2014-12-16 101.11 100.81 103.76 100.00 93361.33

122041 09 Zhaojin 15.00 2016-12-23 100.00 100.75 109.45 90.00 129081.80

122042 09 Jinfeng 6.00 2012-12-25 104.00 103.50 105.00 100.45 65934.47

122043 09 Zijiang 10.00 2017-12-28 100.00 105.00 108.26 100.00 353453.15

122044 10 6.50 2015-1-25 101.12 101.50 104.50 100.50 54024.04

122045 10 Chinese Railway 10.00 2015-1-27 101.00 102.70 102.70 100.00 37995.09 G1 122046 10 Chinese Railway 50.00 2020-1-27 105.25 100.55 105.25 100.55 22357.21 G2 122047 10 Capital Airport 01 19.00 2015-2-3 101.02 100.00 102.60 100.00 151076.20

122048 10 Capital Airport 02 30.00 2017-2-3 100.00 100.00 100.00 100.00 68191.00

122049 10 Yingkou Port 12.00 2018-3-2 103.50 101.09 105.65 100.00 181011.63

122050 10 Shanshan 6.00 2017-3-26 101.75 99.10 112.50 98.84 95482.72

122051 10 Sinopec 01 110.00 2015-5-21 99.99 96.70 101.00 94.28 501491.05

122052 10 Sinopec 02 90.00 2020-5-21 99.95 98.95 100.50 90.00 132777.54

2011 Fact Book 151 Bond Market

122053 10 Taihao 5.00 2015-9-27 100.00 99.50 100.00 96.00 8001.74

122054 10 Chinese Railway 25.00 2020-10-19 100.00 93.50 100.10 90.01 43.36 G3 122055 10 Chinese Railway 35.00 2025-10-19 100.00 97.00 100.00 90.00 18999.04 G4 122056 10 Longyuan 01 20.00 2015-12-10 0.00 100.00 0.00 0.00 0.00

122057 10 Longyuan 02 20.00 2020-12-10 0.00 100.00 0.00 0.00 0.00

122059 10 Chongqing Iron & 20.00 2017-12-9 101.99 101.97 101.99 101.20 8.46 Steel 122060 10 Yinge 7.50 2017-12-22 101.00 101.80 102.48 101.00 4651.20

122860 10 Longyuan 16.00 2017-2-9 0.00 100.00 0.00 0.00 0.00

122861 09 Shaanxi Coal 15.00 2017-12-17 0.00 100.00 0.00 0.00 0.00 Chemistry 122862 10 Fujian Energy 8.00 2017-12-2 0.00 100.00 0.00 0.00 0.00

122865 10 Jiangsu 10.00 2017-9-28 0.00 100.00 0.00 0.00 0.00 Haizhouwan Development 122866 10 Hangzhou 12.00 2020-10-19 0.00 100.00 0.00 0.00 0.00 Communication Investment 122869 10Shanghai 10.00 2017-10-22 0.00 100.00 0.00 0.00 0.00 Chemical 122870 10 Chongqing 8.00 2017-6-2 0.00 100.00 0.00 0.00 0.00 Dasheng 122871 10 Zhengjiang 10.00 2017-10-18 0.00 100.00 0.00 0.00 0.00 Communication Investment 122873 10 10.00 2017-12-8 100.89 99.80 100.89 91.01 18.05 Economic & Technological Development Zone 122874 10 Honghe 10.00 2016-12-9 103.00 117.00 117.00 103.00 0.33 Investment 01 122875 10 Honghe 10.00 2017-12-9 0.00 100.00 0.00 0.00 0.00 Investment 02 122879 10 Tianji 10.00 2017-11-25 100.00 100.99 100.99 100.00 2.90

122880 10 Tianye 12.00 2016-10-25 100.00 99.38 100.00 99.30 10007.88

122881 10 Wujiang 15.00 2018-12-23 0.00 100.00 0.00 0.00 0.00

122883 10 Chuxiong 15.00 2017-10-18 99.99 98.78 99.99 90.00 776.08

122884 10 Xizi 4.50 2017-10-11 100.00 99.60 100.00 99.60 32806.81

2011 Fact Book 152 Bond Market

122885 10 Hebei 20.00 2025-9-28 0.00 100.00 0.00 0.00 0.00 Communication 122886 10 Yunnan 20.00 2017-8-24 101.61 101.61 101.61 101.61 5080.50 Investment 122887 10 Chongqing 10.00 2017-8-4 101.40 101.41 101.41 101.40 3042.10 Communication 122888 10 Huajing 15.00 2017-9-28 100.00 113.00 113.00 90.00 6.40

122889 10 Daye Nonferrous 7.00 2018-10-15 99.00 95.60 99.00 93.50 4000.70

122890 10 Kaidi 10.00 2020-8-23 103.14 103.14 103.14 100.00 23723.04

122891 10 Tongliao 10.00 2017-9-1 103.80 103.78 104.10 101.68 16320.70

122892 10 Shouguang 10.00 2020-9-1 97.65 98.65 98.78 97.54 18038.66

122893 10 Dandong 15.00 2017-9-6 100.00 100.00 101.00 98.00 15795.50

122894 10 7.00 2017-8-3 0.00 100.00 0.00 0.00 13958.60 Municipal 122895 10 Dezhou 7.00 2017-8-9 102.00 98.69 104.00 98.49 7637.79

122896 10 Wuhu 10.00 2017-8-25 99.80 99.80 99.80 99.80 0.10 Development 122897 10 Xiangfan 10.00 2018-5-19 101.85 101.85 101.85 101.85 46156.00 Investment 122898 10 Pan National 6.00 2020-7-29 100.48 101.00 103.50 96.14 1953.29 Investment 122899 10 Yangpu 01 12.00 2017-7-28 101.00 100.98 101.00 100.00 15.54

122900 10 Yangpu 02 3.00 2017-7-28 95.00 100.00 105.00 95.00 4998.40

122901 10 Yingkou 20.00 2020-6-9 102.10 103.00 103.50 100.00 3076.01

122902 10 Chifeng 12.00 2017-5-18 106.00 98.40 106.00 97.38 4814.80

122903 10 Yancheng East 10.00 2017-6-8 101.26 96.39 106.00 91.00 9469.05

122904 10 Great Wall 20.00 2020-5-24 0.00 100.00 0.00 0.00 0.00 Investment 122905 10 Nanchang 12.00 2017-4-30 0.00 100.00 0.00 0.00 0.00

122906 10 Wuhu Investment 14.00 2017-7-22 99.95 99.40 100.30 90.70 5711.85 01 122907 10 Wuhu Investment 6.00 2017-7-22 100.00 99.80 100.00 90.80 5807.95 02 122908 10 Jiangsu 25.00 2016-6-1 100.00 100.00 100.00 100.00 1400.00 Communication 122909 10 Yixing 15.00 2016-5-20 101.00 99.01 101.70 99.00 27342.13

122910 10 Leihe 10.00 2017-3-30 0.00 100.00 0.00 0.00 0.00

2011 Fact Book 153 Bond Market

122911 10 Urban 20.00 2020-5-6 101.50 98.50 102.60 97.00 72260.59 Investment 122912 10 Hubei State- 28.00 2020-5-11 0.00 100.00 0.00 0.00 0.00 owned Captial 122913 10 Nantong 8.00 2016-5-18 102.30 102.85 102.85 100.30 1193.86 Industries Holding 122914 09 Fujian Building 10.00 2016-12-16 0.00 100.00 0.00 0.00 0.00

122915 10 Zhenjiang 20.00 2017-5-6 103.00 101.00 125.00 98.52 19715.96 Water Conservancy Investment 122916 10 Honggutan 8.00 2017-3-9 101.78 101.78 101.78 101.78 2035.60

122917 10 Taicang Port 6.00 2020-1-21 105.00 107.98 117.50 101.02 86.09

122918 10 Fuyang 10.00 2016-3-9 103.50 103.87 105.93 100.14 57383.10

122919 10 Shandong 7.00 2017-3-11 104.00 102.29 105.20 100.00 23146.77 Commercial 122920 10 Huangshan 6.00 2017-2-9 103.00 101.24 105.99 100.10 90247.29

122921 10 Chenzhou 20.00 2017-1-21 103.50 104.42 110.00 101.00 237806.94

122922 10 20.00 2017-1-25 103.00 104.50 105.00 95.00 16314.48 Advanced Technology 122923 10 Beijing Auto 15.00 2017-1-29 101.00 100.80 101.15 100.40 10278.15 Investment 122924 10 Chaohu 12.00 2017-1-28 102.00 100.91 108.00 100.10 35541.67

122925 09 State- 12.00 2016-11-27 104.00 104.70 108.00 102.04 27479.70 owned Capital 122926 09 Qinghai 8.00 2015-12-29 101.18 101.12 102.98 95.00 36050.43 Investment 122927 09 Hainan Airlines 13.00 2019-12-24 103.80 104.04 111.00 101.79 189229.33

122928 09 Tieling 15.00 2019-12-22 101.80 103.19 107.46 100.40 102156.11

122929 09 Jiujiang 12.00 2016-12-18 100.50 103.00 106.69 100.50 11306.44

122930 09 Panjin 10.00 2016-12-16 101.15 104.73 109.56 101.10 181092.90

122931 09 Linhai 10.00 2016-11-6 102.02 111.77 114.98 101.94 245001.39

122932 09 Yicheng 12.00 2016-11-25 100.80 104.99 110.00 99.60 187066.27

122933 09 Nanshan 1 10.00 2015-10-20 103.00 104.51 104.52 98.00 15544.13

122934 09 Nanshan 2 10.00 2019-10-20 0.00 100.00 0.00 0.00 0.00

122935 09 Nantong 23.00 2016-11-13 105.00 105.00 105.00 105.00 17667.11

2011 Fact Book 154 Bond Market

122936 09 Hecheng Urban 12.00 2016-11-17 101.51 108.06 111.10 100.69 276002.40 Investment 122937 10 Liaoyuan 10.00 2017-1-26 107.00 107.85 111.47 101.85 96124.90

122938 09 Fenhu 10.00 2017-10-22 99.70 102.49 106.48 99.60 17559.07

122939 09 Ji’an 15.00 2016-10-28 103.49 108.95 130.01 97.00 118303.76

122940 09 Xianyang Urban 17.50 2019-9-30 102.60 107.10 112.60 102.30 313398.07 Investment 122942 09 Jiangyin 25.00 2016-9-15 103.60 106.99 108.50 100.10 34431.74

122943 09 Waigaoqiao 8.50 2014-9-4 100.80 104.60 104.60 100.80 9060.31

122944 09 Zhuzhou Urban 15.00 2016-8-28 99.96 104.08 108.98 99.81 182148.77 Investment 122945 09 Yushui 8.00 2016-7-31 100.01 102.90 115.21 95.60 34682.96

122946 09 Yangzhou Urban 20.00 2016-7-23 99.00 103.70 139.98 90.50 11026.67 Construction 122947 09 Hefei 20.00 2014-7-8 96.00 105.00 108.88 94.45 2249.06 Construction Investment 122948 09 20.00 2016-7-8 92.61 99.00 101.89 92.12 97212.23 Communications 122949 09 Changzhou 20.00 2016-7-1 94.87 99.90 109.00 94.00 82531.15 Investment 122950 09 Chongqing 15.00 2016-7-1 95.98 103.00 107.00 95.98 13066.58 Energy 122951 09 Urban 15.00 2016-6-26 96.80 100.98 104.50 92.00 82986.01 Construction 122952 09 Ganzhou 15.00 2016-6-16 97.00 99.50 101.99 95.82 42297.97

122953 09 Yueyang Urban 10.00 2015-4-30 100.00 99.30 102.60 98.76 6636.11 Construction 122954 09 Wujin 22.00 2016-6-9 92.23 97.70 102.20 92.00 63313.29

122955 09 Xiangtan City 9.00 2015-6-1 100.00 99.51 103.68 96.66 61255.22 Construction 122956 09 Changzhou Hi- 15.00 2019-6-4 94.00 97.39 102.00 93.01 96970.41 tech 122957 09 Chengdu Industry 15.00 2016-6-4 98.45 99.65 101.15 95.00 69757.44 Investment 122958 09 Changsha 5.80 2015-5-22 102.25 103.34 114.84 94.19 66619.87 Economic Development 122959 09 Tsinghua 10.00 2016-5-19 95.00 100.00 103.55 94.60 30521.88 Holdings 122960 09 Poly Group 13.00 2014-5-7 98.00 101.30 101.70 97.00 48810.96

2011 Fact Book 155 Bond Market

122961 09 Wuhan Urban 15.00 2019-5-25 97.10 97.92 100.10 93.00 19027.17 Investment 122962 09 Nanjing 10.00 2016-5-7 96.30 101.99 104.98 96.30 66883.89 Communications 122963 09 Zhangjiang 8.00 2012-6-10 100.50 101.00 110.90 91.20 35556.24

122964 09 Longhu 14.00 2016-5-5 102.49 104.88 108.50 100.00 210443.09

122965 09 Weifang 7.00 2019-4-15 100.00 103.00 106.00 98.01 38533.57 Investment 122966 09 Dianchi 8.00 2015-4-27 95.71 101.00 117.99 95.03 43919.23 Investment 122967 09 Fujian Zhanglong 10.00 2015-4-24 93.98 100.36 103.30 93.80 125618.25

122968 09 Hangzhou Urban 22.00 2015-4-14 99.90 101.00 101.95 99.60 9766.42 Investment 122969 09 Henan Investment 15.00 2019-4-15 93.00 100.02 104.00 90.00 3816.87

122970 09 Three Gorges 01 70.00 2014-4-8 95.50 100.00 100.00 95.50 34997.76

122971 09 Three Gorges 02 30.00 2016-4-8 99.95 99.50 99.95 80.00 3968.37

122972 09 Mianyang 15.00 2016-4-8 97.63 102.51 105.00 97.36 78341.37 Investment 122973 09 Kunshan 20.00 2016-3-30 89.99 94.33 98.94 89.08 186917.05 Chuangye 122974 09 Zhengjiang City 10.00 2015-3-30 97.99 101.20 103.80 92.00 50471.72 Construction 122975 09 Jinan Urban 15.00 2019-3-26 89.50 94.02 99.68 89.21 30922.45 Construction 122976 09 Yongcheng Coal 13.00 2015-3-30 92.89 100.15 101.40 92.89 25190.88 & Electricity 122977 09 Bailian 10.00 2012-3-26 100.45 100.00 105.00 96.11 27263.22

122978 09 Tianjin Jinbin 15.00 2012-3-25 96.00 99.98 109.89 90.08 30630.71 Development 1 122979 09 Tianjin Jinbin 20.00 2014-3-25 91.50 96.19 99.99 90.01 56037.36 Development 2 122980 09 Tianjin Jinbin 25.00 2016-3-25 92.23 96.15 101.00 91.00 20813.60 Development 3 122981 09 Tongling Urban 5.00 2015-3-10 98.20 101.34 105.54 98.20 90344.78 Construction 122982 09 Urban 12.00 2016-3-9 96.40 103.00 103.99 96.38 66912.59 Development 122983 09 Nanjing Iron & 25.00 2016-2-27 100.27 102.50 105.30 99.50 162945.24 Steel 122984 09 Liu’an Urban 15.00 2016-3-2 100.69 106.03 108.59 100.48 118190.10 Construction

2011 Fact Book 156 Bond Market

122985 09 Zhejiang 47.00 2014-2-23 95.30 97.50 100.70 92.50 41900.23 Provincial Energy 122986 09 Chunhua 10.00 2016-2-11 97.80 101.02 110.00 97.80 43258.75

122987 08 Yunnan Coal 15.00 2013-12-19 105.00 100.50 108.61 95.21 1055.86 Chemical 122988 08 Chongqing 10.00 2016-1-15 100.59 104.59 109.01 99.85 111568.55 Yulong 122989 08 Chongqing 15.00 2015-12-10 100.25 103.40 105.00 100.00 15966.37 Communication 122990 08 Wuxi Municipal 22.00 2011-10-7 110.50 102.00 110.50 101.00 31936.45 Utilities 122991 08 Hainan Airlines 15.00 2014-12-25 104.20 106.82 117.00 100.10 160870.32

122992 08 Jiangsu 25.00 2013-11-18 99.80 102.00 103.00 99.00 16551.92 Communication 122993 08 Wuyang Iron & 6.00 2013-11-13 103.30 104.34 106.79 101.65 9930.32 Steel 122994 08 Yunnan 15.00 2013-10-22 97.45 101.50 105.80 93.58 73851.02 Investment 122995 08 Hefei 17.00 2018-8-28 96.80 100.72 105.52 90.00 124113.76 Construction Investment 122996 08 Changzhou Urban 25.00 2015-9-24 98.31 103.48 105.89 98.00 279854.44 Construction 122997 08 Suzhou Hi-Tech 4.00 2013-10-9 102.80 105.20 106.88 100.50 135671.54

122998 04 Nanjing Tanker 10.00 2014-5-26 99.60 100.10 102.20 98.99 603.33

122999 08 Guangzhou Paper 3.90 2018-3-13 106.00 102.29 110.00 102.05 88145.38

123000 09 Yihua 10.00 2014-10-26 98.22 99.62 102.30 98.22 170933.00

123001 09 Shanghai Ace 2.50 2014-11-17 100.00 100.00 0.00 0.00 0.00

123002 09 Donghua 3.00 2015-12-28 100.00 100.00 100.00 100.00 2000.00

123003 09 Rebecca 3.00 2015-12-28 100.00 99.99 100.00 98.93 17850.00

123004 10 China Hi-tech 2.80 2017-2-2 100.00 102.40 102.40 102.40 3072.00

123005 09 New Hailian 15.00 2016-11-11 100.00 99.94 100.00 99.94 1999.00

123006 10 Wuhan Hi-tech 5.00 2020-5-24 100.00 100.00 0.00 0.00 0.00

123496 10 Taikang 1 10.00 2020-9-16 100.00 100.00 100.00 100.00 15000.00

123497 10 Taikang 2 10.00 2020-9-16 100.00 100.00 0.00 0.00 0.00

123498 10 Taikang 3 10.00 2020-9-16 100.00 100.00 0.00 0.00 0.00

2011 Fact Book 157 Bond Market

123499 10 Taikang 4 10.00 2020-9-16 100.00 100.00 0.00 0.00 0.00

126001 06 Maanshan Steel 55.00 2011-11-13 96.29 98.50 98.64 93.38 213341.57

126002 06 Sinochem 12.00 2012-12-1 91.85 94.95 96.88 90.44 133065.14

126003 07 Yuntianhua 10.00 2013-1-28 89.83 93.61 94.77 89.60 61113.61

126005 07 Wuhan Steel 75.00 2012-3-25 94.51 96.45 97.62 94.51 226293.04

126006 07 Shenzhen 15.00 2013-10-9 87.65 91.01 98.87 86.19 5658.99 Expressway 126007 07 Rizhao 8.80 2013-11-27 86.81 90.32 93.97 86.60 9267.13

126008 08 SAIC Motor 63.00 2013-12-19 84.69 90.54 92.00 84.69 277703.62

126009 08 Ganyue 12.00 2014-1-27 85.31 88.79 91.00 85.13 23803.41

126010 08 COSCO 10.50 2014-1-28 83.71 88.98 90.49 83.39 65445.87

126011 08 Petroleum and 300.00 2014-2-20 85.98 89.02 91.50 83.08 696071.20 Chemical 126012 08 Shanghai 24.50 2011-2-20 97.41 99.54 100.25 91.00 453829.35 International Port 126013 08 Tsingtao Brewery 15.00 2014-4-2 82.56 88.58 90.90 82.46 175843.93

126014 08 GD 39.95 2014-5-7 83.50 87.97 90.50 82.50 110849.72

126015 08 Kangmei 9.00 2014-5-8 79.27 85.57 87.55 79.25 140950.56

126016 08 Baoshan Steel 100.00 2014-6-19 84.01 87.67 90.05 84.01 583265.81

126017 08 Gezhouba 13.90 2014-6-25 80.10 87.30 88.93 79.80 193895.76

126018 08 Jiangxi Copper 68.00 2016-9-22 70.84 77.69 80.41 70.60 1159406.33

126019 09 Changhong 30.00 2015-7-30 73.19 79.46 82.43 72.86 590549.08

129903 99 Three Gorges 30.00 2010-7-25 101.00 100.01 108.88 99.70 37395.86

2011 Fact Book 158 Bond Market

Trading Volume of Bond in Each Month of 2010

Turnover Value Month Turnover Volume (10,000 shares) (RMB 10,000) 01 41812175.26 41789.96 02 31632081.35 31647.96 03 56292508.90 56318.92 04 51387457.52 51400.50 05 53058958.58 53057.69 06 63046416.03 63058.20 07 70060841.34 70008.13 08 72601567.97 72512.41 09 69366860.98 69252.41 10 54365829.38 53993.43 11 78177603.99 77937.14 12 107342013.59 107080.08

Monthly Bond Turnover in 2010

Trading Value Trading Volume Month (RMB 10,000) (10,000 shares) 01 38674232.50 38674.23 02 29104460.00 29104.46 03 51760653.00 51760.65 04 48351215.20 48351.22 05 49730409.30 49730.41 06 58323943.20 58323.94 07 66248916.30 66248.92 08 69295127.90 69295.13 09 63962608.20 63962.61 10 49051276.80 49051.28 11 73440676.40 73440.68 12 102232425.90 102232.43

2011 Fact Book 159 Bond Market

Trading Volume of Government Bond in Each Month of 2010

Turnover Value Month Turnover Volume (10,000 shares) (RMB 10,000)

01 1468299.78 1451.93

02 1457692.57 1443.79

03 2098505.98 2074.90

04 1426901.14 1410.78

05 1626531.21 1605.75

06 1158300.37 1130.46

07 1140156.78 1120.09

08 1092998.74 1066.81

09 1134136.48 1114.95

10 1096625.88 1083.12

11 1366864.19 1362.38

12 833431.03 833.60

2011 Fact Book 160 Bond Market

List of Convertible Corporate Bonds (CCB) Openly Issued by Listed Companies in 2010

Shuangliang Name of Stock BOC ICBC Gehuang Energy Saving Code of Stock 600481 601988 601398 600037

Abbr. for Subscription of CCB BOC Issued Bond ICBC Issued Bond Gehuang Issued Bond Shuangliang Issued Bond

Code for Subscription of CCB 733481 783988 783398 733037

District Jiangsu Beijing Beijing Beijing

Issuance Scale (RMB 100m) 7.2 400 250 16

Issuance Volume ( 10K lots) 72 4000 2500 160

Quotation for Subscription 100 100 100 100 (RMB/ stock)

Issuance Method Priority Placement Priority Placement, Priority Placement, Priority Placement, and Online Pricing Online Pricing and Online Pricing and Online Pricing and Offline Placement Offline Placement Offline Placement

Upper limit for CCB Online 72 2000 750 80 Subscription (10 K lots)

Issuance Date ( T day)/ Value 2010-05-04 2010-06-02 2010-08-31 2010-11-25 Date

Maturity (Year) 5 6 6 6

Maturity Date (M/D) 2015-05-04 2016-06-02 2016-08-31 2016-11-25

Listing Code 110009.SH 113001.SH 113002.SH 110011.SH

Abbr. for Listing Shuangliang BOC Convertible ICBC Convertible Gehua Convertible Convertible Bond Bond Bond Bond

/LVWLQJ'DWH /'D\ 2010-05-14 2010-06-18 2010-09-10 2010-12-10

(Commencing Date for CCB) 2010-11-4 2010-12-2 2011-03-01 2011-5-25

Initial price for CCB 21.11 4.02 4.20 15.09

2011 Fact Book 161

Shanghai Securities Market

2011 Fact Book 163 Shanghai Securities Market

2011 Fact Book 164 Funds

Funds

Overview

China’s fund sector has entered a period of rapid growth after 12 years of regulated development. By the end of 2010, 63 fund management companies were formally established in China, managing fund assets of up to 2.5 billion yuan and a total number of 797 funds, of which, there are 556 stock funds, 170 bond funds and 71 money funds.

Fund product structure tends to be diversified and rated and indexed products guide through the innovation of funds. In terms of types of investment products, the stock fund market dominates the fund sector in absolute terms, accounting for 87% and the bond fund and fund assets in the money market grow at a steady pace with the assets of bond fund accounting for 7% and the assets of money fund accounting for 6%. In terms of transaction methods and product structure, structured and rated fund products and indexed fund products are popular in the market and show a rapid growth trend. In terms of investment regions and investment targets, QDII fund products covering a number of international regions and gold investment commodity fund products are launched.

In addition, alongside with rapid domestic economic growth, privately offered funds issued based on the trust platform begin to take shape in the domestic securities investment market and the equity investment market and are more actively traded, while a number of operation and management issues are revealed. The revision of the Securities Investment Fund Law will provide room for legal, regulated and sustainable development to emerging privately offered fund.

Status of the Fund Market in SSE

Close-ended fund: up to December 31, there are 13 close-ended funds in the SSE, with a total of 31.71 billion units in circulation and a turnover of 420,181 billion yuan for the whole year.

SSE Open-ended Fund Trading System: 66 open-ended funds are quoted on the SSE Open-end Fund Trading System, of which, 7 funds are issued on the counter, raising a total of 208 million yuan. Through the SSE Open-ended Fund Trading System, 1.499 billion units of open-ended funds are subscribed for the whole year and 2.314 billion units are redeemed.

Overview of Exchange Traded Fund (ETF) on SSE

In 2010, there are 10 ETFs in total which are issued through SSE, of which, 7 ETFs are listed on SSE. By the end of December, a total of 12 ETFs were listed on SSE, with 39.556 billion fund units and a total net value of 40.816 billion

2011 Fact Book 165 Funds

yuan in fund assets, recording a total turnover of 420.181 billion yuan for ETF transactions for the whole year.

Operation Status of Various ETFs In terms of fund asset scale, the scale of single-contract ETFs declines and 50ETF holds the leading position with a net value of 22.0 billion yuan in fund assets, accounting for more than half of the total scale of all listed ETFs’ assets; in terms of operation efficiency, 180ETF shows the smallest annual tracking deviation for the whole year at a rate of 1.09% and commodity ETF shows the greatest annual tracking deviation at a rate of 34.11%.

Structure of ETF Investors In terms of the structure of ETF holders, institutional investors are the major holders of ETFs, with average shareholding exceeding 60% and less than 40% for individual investors; in terms of transactions in the secondary market, transactions by individual investors account for 65% and transactions by institutional investors 35%.

2011 Fact Book 166 Funds

Summary of Funds in 2010

Turnover Short Size of Issuance High Low Opening Closing Change Turnover Value Code Volume Name (10,000 units) (RMB) (RMB) (RMB) (RMB) (%) (RMB10,000) (10,000 units)

500001 Jintai Fund 200000.00 1.323 0.922 1.102 1.261 27.47 300587.72 346483.65

500002 Taihe Fund 200000.00 1.245 0.838 0.924 1.225 39.23 239981.74 245265.95

500003 Anxin Fund 200000.00 1.573 0.975 1.434 1.265 19.33 169613.64 209566.66

Hansheng 500005 200000.00 1.647 1.105 1.530 1.515 23.48 265642.51 356987.63 Fund

500006 Yuyang Fund 200000.00 1.655 0.794 1.580 1.015 9.28 337878.93 382512.13

500008 Xinghua Fund 200000.00 1.659 0.989 1.553 1.165 13.98 354455.59 407395.88

500009 Anshun Fund 300000.00 1.820 0.987 1.725 1.287 12.95 333228.21 445578.52

500011 Jinxin Fund 300000.00 1.166 0.797 0.980 1.055 11.71 619150.67 605230.88

500015 Hanxing Fund 300000.00 1.360 0.888 1.273 1.042 6.77 351976.31 364234.82

500018 Xinghe Fund 300000.00 1.220 0.846 1.158 1.027 5.77 363009.84 364245.02

500038 Tongqian Fund 200000.00 1.626 1.051 1.415 1.582 46.63 640269.73 855684.37

500056 Kerui Fund 300000.00 1.345 0.745 1.195 1.066 22.24 541377.88 554237.58

500058 Yinfeng Fund 300000.00 1.067 0.767 0.957 1.002 12.45 599117.24 561515.14

Governance 510010 613852.44 0.932 0.638 0.913 0.748 -18.25 121921.11 96651.40 ETF

510020 Chaoda ETF 950645.92 0.266 0.181 0.243 0.202 0.00 1518933.81 331617.29

510030 Value ETF 55052.87 3.020 2.327 2.660 2.552 0.00 91094.76 243385.41

510050 50ETF 1129356.68 2.600 1.795 2.569 1.968 -22.15 13373315.10 28631964.92

510060 SOEs ETF 102595.92 1.810 1.188 1.731 1.321 -23.55 567165.75 850537.72

Private 510070 86312.41 1.453 1.220 1.300 1.274 0.00 153817.58 205606.66 Enterprise ETF

510090 Liability ETF 39108.11 1.168 0.805 0.902 0.940 0.00 151705.31 142323.33

510110 Cycle ETF 38821.68 2.588 2.300 2.520 2.381 0.00 27243.99 67323.62

510130 Mid-caps ETF 113428.51 3.595 2.223 2.629 3.148 0.00 352603.93 1090539.34

510160 Well-off ETF 163405.74 0.478 0.405 0.457 0.421 0.00 217430.73 97993.61

510180 180ETF 981222.67 0.812 0.536 0.773 0.650 -15.58 13475702.31 8704647.64

510880 Dividend ETF 162517.57 2.845 1.938 2.822 2.178 -21.27 636524.17 1555535.09

2011 Fact Book 167 Funds

NAV of Securities Investment Funds (2010 year-end)

Code Short Name Announcement Date As of Date NAV Per Unit (RMB)

500001 Jintai Fund 2011-1-1 2010-12-31 1.360

500002 Taihe Fund 2011-1-1 2010-12-31 1.300

500003 Anxin Fund 2011-1-1 2010-12-31 1.336

500005 Hansheng Fund 2011-1-1 2010-12-31 1.623

500006 Yuyang Fund 2011-1-1 2010-12-31 1.117

500008 Xinghua Fund 2011-1-1 2010-12-31 1.210

500009 Anshun Fund 2011-1-1 2010-12-31 1.374

500011 Jinxin Fund 2011-1-1 2010-12-31 1.248

500015 Hanxing Fund 2011-1-1 2010-12-31 1.192

500018 Xinghe Fund 2011-1-1 2010-12-31 1.193

500038 Tongqian Fund 2011-1-1 2010-12-31 1.648

500056 Kerui Fund 2011-1-1 2010-12-31 1.235

500058 Yinfeng Fund 2011-1-1 2010-12-31 1.213

2011 Fact Book 168 Shanghai Securities Market

2011 Fact Book 169 Shanghai Securities Market

2011 Fact Book 170 Members

Members

Overview of Members

At the end of 2010, SSE had 106 members, 4609 member business departments, and 6610 trading seats open for business. Thirty seven members had registered capital of less than RMB 1 billion, 37 members had registered capital of between RMB 1 billion and RMB 2 billion, 20 members had registered capital of between RMB 2 billion and RMB 3 billion, and 12 members had registered capital of more than RMB 3 billion. SSE had approved 25 members for margin trading and short selling, 12 members as ETF agency dealers, 3 members for SSE asset management trading system, 30 members as SSE social responsibility ETF agency dealers, 18 members as SSE private enterprise 50 ETF agency dealers, 14 members as SSE well-off ETF agency dealers, 16 members as SSE cyclical industry 50 ETF agency dealers, 27 members as SSE super large-cap ETF agency dealers, 31 members as SSE 180 value ETF agency dealers, and 11 members as SSE midcap ETF agency dealers.

Overview of Member Regulation and Services

I. Dealing with and optimizing membership business procedures, strengthening the management of trading authorities. 1. SSE has dealt with 6125 membership business procedures without error during the current year. On one hand, SSE has continued to optimize system functions for membership business procedures and strengthen coordination and cooperation with registration and clearing companies to enhance its “one-stop” service standards; on the other hand, SSE has implemented trading authority management arrangements for new business areas such as ETF agency dealer qualifications, asset management fund trading qualifications, and pilot margin trading business. 2. SSE has improved business procedures relating to mergers and acquisition and restructurings among members. With a view to ensuring smooth handling of the transfer of Huatai Securities and Huatai United Securities operations departments, changes in clients’ designated dealers and other related matters, the SSE has coordinated all relevant internal and external departments to establish and improve relevant business procedures.

II. Strengthening Self-Disciplinary Management Among Members 1. Continuing to further promote client management among members. With the aim of encouraging members to meet the requirements specified in the Member Management Rules and the Implementing Rules for the Administration of Member Client Securities Trading Activities, the client management practices of members have been improved. On one hand, SSE prepared and drafted the 2009 Compilation of Member Management Communication Materials (client management) based on members’ implementation of client management self-examinations and self-recommendations in 2009; on the other hand, SSE thoroughly implemented the written instructions of its leaders on member client management, visited and investigated 20 members, sent out questionnaires to 100 members, and drafted the Special Report on Member Client Management. 2. Encouraging members to operate in compliance with the law. One aspect of this work is that SSE has required members to clearly alert their clients to any risks and has reminded members to do an effective job in client risk

2011 Fact Book 171 Members

disclosures relating to significant matters such as the expiry of warrants, listing suspensions for corporate bonds, and share allotments by banks. The second aspect of this work is that SSE has required members to effectively manage client trading activities, and has held face-to-face meetings with two companies and issued a reminder to another by telephone in relation to speculation in new shares and abnormal transactions. 3. Ongoing focus on the financial and business conditions of members. SSE has analyzed the financial and business conditions of members on a monthly basis, focused on changes in key indicators, and prepared monthly and annual analytical reports on member regulation. 4. Helping do an effective job in winding down risk disposition companies. First, SSE has put forward relevant suggestions after studying problems in changing designated dealers for judicially frozen accounts and transferring seats left by risk disposition companies according to the arrangements for closing down risk disposition companies; second, SSE has arranged for an effective job to be done in winding down and disposition work such as transferring the seats of risk companies and changing designated dealers for clients of the risk companies concerned; third, SSE has ensured subsequent disposition work is carried out effectively according to the spirit of the summary conference for the winding down of securities company risk dispositions convened by CSRC.

III. Carrying Out Work Related to Innovative Member Services SSE has carried out work relating to innovative member services according to unified CSRC arrangements. 1. SSE has done an effective job in administering the pilot program for pledge-type bond repos, organized and convened pilot program summary conferences, and discussed the pilot promotional plans for such conferences; SSE has studied and formulated the agreed repo securities transaction scheme and organized and convened new innovative business seminars for securities companies. 2. According to the arrangements for the margin trading and short selling pilot program, SSE has formulated member business guidelines and accepted trading authority applications; arranged for pilot program members to make sound technology and business preparations; formulated a technology system evaluation scheme to provide special services for members with weak technology; and participated in the regulation of margin trading.

IV. Strengthening Member Technology Management and Services SSE has continuously strengthened member technology management and services during the running-in period for the new trading system. First, SSE has urged that members do an effective job in work related to promoting the new features of the system to the market and has arranged for members to have their operations departments expand their codes and launch the EzOES201 version; second, SSE is continuing to provide technology services for members and has provided special services for significant technology changes undergone by four members to further develop the function of SSE technology special service platform; third, SSE has issued regulatory work letters to individual members that have had electricity supply malfunctions in their computer rooms reflecting inadequate technology system management and maintenance, has constructed a city-wide disaster backup system and emergency response protocol, and has put forward technological improvement suggestions.

V. Providing Membership Business Training for Members For the purposes of promoting a good command of the SSE’s membership business handling procedures among members and reducing business operational risk, SSE has provided membership business training and examinations to a total of 105 members and 109 people in three phases, and is promoting a system under which staff assuming certain posts are required to hold certificates.

2011 Fact Book 172 Members

Geographical Distribution of SSE Members and Their Business Branches in 2010

Turnover Region Number Of Members Number of Business Branches Percentage (%) (RMB 1 million) Anhui 2 135 1040156.28 1.37

Beijing 17 228 8498903.72 11.17

Fujian 3 188 3184444.16 4.18

Gansu 1 58 374054.11 0.49

Guangdong 22 613 13538394.83 17.79

Guangxi 1 82 673175.96 0.88

Guizhou 1 32 189312.08 0.25

Hainan 2 33 312271.95 0.41

Hebei 1 148 926236.13 1.22

Henan 1 131 1448011.37 1.90

Heilongjiang 1 113 1068206.81 1.40

Hubei 2 145 1970573.41 2.59

Hunan 3 162 1416414.72 1.86

Jilin 2 84 598321.29 0.79

Jiangsu 5 300 5555283.94 7.30

Jiangxi 2 108 1154821.88 1.52

Liaoning 3 205 2045420.52 2.69

Inner Mongolia 2 51 290298.38 0.38

Ningxia 0 18 83174.89 0.11

Qinghai 1 10 47985.22 0.06

Shandong 2 222 2699436.19 3.55

Shanxi 2 90 630827.70 0.83

Shaanxi 3 92 946629.83 1.24

Shanghai 14 476 14892399.61 19.57

2011 Fact Book 173 Members

Sichuan 4 199 2195383.32 2.88

Tianjin 1 95 1056849.08 1.39

Tibet 1 3 11642.54 0.02

Xinjiang 1 59 464443.38 0.61

Yunnan 2 64 545778.82 0.72

Zhejiang 3 333 7413088.98 9.74

Chongqing 1 96 832604.84 1.09

2011 Fact Book 174 Members

Membership (1990-2010)

Year Membership

1990 25

1991 29

1992 171

1993 481

1994 550

1995 553

1996 523

1997 467

1998 317

1999 309

2000 305

2001 255

2002 199

2003 171

2004 161

2005 152

2006 152

2007 142

2008 109

2009 107

2010 106

2011 Fact Book 175 Members

Top 50 Members by Turnover in 2010

Total T-bond T-bond Repo Equity (RMB 1 Rank Name Turnover(RMB Spot (RMB (RMB 1 mil- million) 1 million) 1 million) lion) 1 Guotai Junan Securities Co., Ltd. 4137772.06 2877281.11 17438.23 1034163.90

2 Shenyin & Wanguo Securities Co. Ltd. 4035169.27 2540089.12 11428.87 1423071.50

3 China Galaxy Securities Co., Ltd. 3886020.70 3121909.93 8116.59 702876.00

4 Haitong Securities Co., Ltd. 3347268.65 2482318.49 34818.44 758700.60

5 Guosen Securities Co., Ltd. 3059936.80 2601312.49 19 712.07 384441.70

6 China Merchants Securities Co., Ltd. 2738109.36 2300548.04 26517.92 343347.00

7 Gf Securities Co., Ltd. 2698320.43 2419608.08 15737.46 210123.50

8 China Securities Co., Ltd. 2584245.93 2034551.69 16879.01 473350.60

9 Huatai Securities Co., Ltd. 2471341.11 2235867.68 12405.88 146836.20

10 Citic Securities Co., Ltd. 2190294.20 1633054.85 14892.62 401064.60

11 Everbright Securities Co., Ltd. 2183941.72 1844315.88 13060.97 266578.80

12 China International Capital Co., Ltd. 1899089.17 660229.86 28799.81 1149369.20

13 Shandong Qilu Securities Co., Ltd. 1677557.76 1514908.98 1965.20 61590.00

14 Essence Securities Co., Ltd. 1660023.49 1563533.71 1394.21 83387.00

15 China Jianyin Investment Securities Co., Ltd. 1602306.89 1483835.24 1358.86 100104.60

16 Changjiang Securities Co., Ltd. 1352625.27 999329.30 13778.81 311208.70

17 Huatai United Securities Co., Ltd. 1310079.26 1171617.67 1689.84 118634.60

18 CITIC-Kington Securities Co., Ltd. 1276179.93 1211686.26 91.86 53106.20

19 Orient Securities Co., Ltd. 1162480.81 963921.72 7427.68 174026.10

20 Ping An Securities Co., Ltd. 1156891.84 660775.09 27473.91 405165.90

21 Industrial Securities Co., Ltd. 1108721.99 941816.70 1029.23 138383.60

22 Founder Securities Co., Ltd. 1070423.04 1038195.81 94.56 26586.50

23 Guoyuan Securities Co., Ltd. 954106.38 664693.90 978.11 275566.00

2011 Fact Book 176 Members

24 Hong Yuan Securities Co., Ltd. 859813.30 772722.96 1168.99 73452.90

25 Caitong Securities Brokerage Co., Ltd. 800061.16 688236.32 3267.21 105219.50

26 BOC International (China) Ltd. 762673.85 628847.36 7877.04 117861.90

27 West China Securities Co., Ltd. 739783.69 703345.58 88.96 32202.80

28 Zhejiang Merchants Securities Co., Ltd. 714964.09 699810.34 163.38 11257.70

29 Shanghai Securities Co., Ltd. 682160.84 580202.89 1283.76 91692.10

30 Dongxing Securities Co., Ltd. 644609.87 606914.86 144.78 32127.50

31 Xiangcai Securities Co., Ltd. 598751.30 583652.96 289.62 10724.40

32 Great Wall Securities Co., Ltd. 597752.44 557051.90 362.48 35426.30

33 Sinolink Securities Co., Ltd. 575698.53 389827.47 802.94 180506.60

34 Donghai Securities Co., Ltd. 563231.79 539351.76 210.67 16287.10

35 Bohai Securities Co., Ltd. 559683.96 482306.77 479.00 72261.50

36 Soochow Securities Co., Ltd. 558897.38 530810.30 246.58 24257.60

37 Cinda Securities Co., Ltd. 541188.14 522717.36 395.92 9943.90

38 Southwest Securities Co., Ltd. 500239.88 457556.35 129.99 25296.70

39 Shanxi Securities Co., Ltd. 493277.88 371806.72 231.71 114567.90

40 Northeast Securities Co ., Ltd. 490582.97 462308.23 357.34 24620.80

41 Nanjing Securities Co., Ltd. 486659.90 466101.55 83.00 15410.70

42 GF Huafu Securities Co., Ltd. 478887.79 456208.11 445.78 18853.70

43 Guolian Securities Co., Ltd. 450117.55 374812.53 804.74 70581.20

44 Sealand Securities Co., Ltd. 440211.15 384324.88 448.88 47641.40

45 China Minzu Securities Co., Ltd. 438344.71 423158.86 315.35 10544.40

46 Hebei Caida Securities Co.Ltd. 437834.11 436226.31 21.58 0.00

47 Citic Wantong Securities Co., Ltd. 430041.87 411517.75 231.21 409.40

48 Huaan Securities Co., Ltd. 409936.52 347773.02 208.15 59321.70

49 Dongguan Securities Co.Ltd. 400246.35 378160.65 56.04 19339.70

50 Western Securities Co., Ltd. 396005.10 386876.20 591.34 6019.90

2011 Fact Book 177 Members

Top 50 Members by Registered Capital in 2010

Rank Name Registered Capital (RMB10,000)

1 Haitong Securities Co., Ltd. 822782

2 Guosen Securities Co., Ltd. 700000

3 Shenyin & Wanguo Securities Co. Ltd. 671576

4 Citic Securities Co., Ltd. 663046

5 China Galaxy Securities Co., Ltd. 600000

6 Huatai Securities Co., Ltd. 560000

7 Shandong Qilu Securities Co., Ltd. 521224

8 Guotai Junan Securities Co., Ltd. 470000

9 Founder Securities Co., Ltd. 460000

10 China Merchants Securities Co., Ltd. 358546

11 Everbright Securities Co., Ltd. 341800

12 Orient Securities Co., Ltd. 329383

13 Ping An Securities Co., Ltd. 300000

14 Xiangcai Securities Co., Ltd. 299725

15 China Securities Co., Ltd. 270000

16 Guodu Securities Co., Ltd. 262298

17 Shanghai Securities Co., Ltd. 261000

18 Gf Securities Co., Ltd. 250705

19 China Jianyin Investment Securities Co., Ltd. 250000

20 Huaan Securities Co., Ltd. 240500

21 Essence Securities Co., Ltd 238975

22 Bohai Securities Co., Ltd. 222686

23 Industrial Securities Co., Ltd. 220000

23 Daton Securities Co.,Ltd. 220000

2011 Fact Book 178 Members

25 Hengtai Securities Co., Ltd. 219470

26 Fortune Securities Co., Ltd. 213573

27 Zhejiang Merchants Securities Co., Ltd. 212000

28 Great Wall Securities Co., Ltd. 206700

29 Central China Securities Co., Ltd. 203352

30 Shanxi Securities Co., Ltd. 200000

31 Guoyuan Securities Co., Ltd. 196410

32 Southwest Securities Co., Ltd. 190385

33 Nanjing Securities Co., Ltd. 177105

34 Changjiang Securities Co., Ltd. 167480

35 Donghai Securities Co., Ltd. 167000

36 China Fortune Securities.,Ltd. 160000

37 First Capital Securities Co., Ltd. 159000

38 China Dragon Securities Co., Ltd. 155339

39 Cinda Securities Co., Ltd. 151100

40 Huarong Securities Co., Ltd. 151000

41 Dongxing Securities Co., Ltd. 150400

42 The Pacific Securities Co., Ltd. 150331

43 guolian Securities Co.,Ltd. 150000

43 Dongguan Securities Co., Ltd 150000

43 Soochow Securities Co., Ltd. 150000

43 Fortune Securities Co., Ltd. 150000

43 BOC International (China) Ltd. 150000

48 UBS Securities Co., Ltd. 149000

49 New Times Securities Co.; Ltd. 146327

50 Hong Yuan Securities Co., Ltd. 146120

2011 Fact Book 179 Members

Top Lead Underwriters of IPOs in 2010 (by Number of Deals Underwritten)

Rank Sequence Number of Lead Underwriter Name of Number Lead Underwriter of Deals Underwritten 1 49 CITIC Securities Co., Ltd. 5

2 66 China International 4 Capital Co., Ltd. 3 500021 BOC International Limited 3

4 3764 Guotai Junan Securities Co., Ltd. 3

5 88 Guosen Securities 3

6 501381 China Galaxy 2 Securities Co., Ltd. 7 1258 SHENYIN&WANGUO SECURITIES CO.LTD 2

8 501361 UBS Securities LLC 2

9 182 Haitong Securities Co., Ltd 1

10 501061 China Securities Co., Ltd. 1

Top Lead Underwriters of Rights Issues in 2010 (by Number of Deals Underwritten)

Name of Number Rank Sequence Number of Lead Underwriter Lead Underwriter of Deals Underwritten 1 501361 UBS Securities LLC 2 China International 266 2 Capital Co., Ltd. 3 500021 BOC International Limited 1

4 501601 Credit Suisse Founder Securities Limited 1

5 1221 Huatai Securities Co., Ltd. 1

6 3764 Guotai Junan Securities Co., Ltd. 1

2011 Fact Book 180 Members

7 501061 China Securities Co., Ltd. 1

8 136 Northeast Securities Co., Ltd 1

989 +XDWDL8QLWHG6HFXULWLHV&R/WG 1

10 500461 CENTRAL CHINA SECURITIES CO.,LTD 1

Top 20 Members by Margin Trading and Short Selling in 2010

Turnover for Margin Turnover for Short Total (RMB No. Name Trading (RMB 10,000) Selling(RMB 10,000) 10,000) 1 Haitong Securities Co., Ltd. 1271663.80 8623.31 1280287.11 2 Guotai Junan Securities Co., Ltd 967087.58 3003.32 970090.90 3 CITIC Securities Co., Ltd. 570342.46 61333.93 631676.39 4 Everbright Securities Co., Ltd. 553892.95 12141.62 566034.57 5 GF Securities Co., Ltd. 503747.64 961.23 504708.87 6 China Merchants Securities Co., Ltd 458865.68 5.38 458871.06 7 Shenyin & Wanguo Securities Co., Ltd. 443331.06 578.33 443909.39 8 Huatai Securities Co., Ltd. 364492.55 35080.48 399573.03 9 China Galaxy Securities Co., Ltd 254412.91 479.53 254892.44 10 Guosen Securities Co., Ltd. 235700.64 3598.00 239298.64 11 Orient Securities Co., Ltd. 104324.50 24.42 104348.92 12 Great Wall Securities Co., Ltd. 8228.89 0.00 8228.89 13 Changjiang Securities Co., Ltd. 6788.36 0.07 6788.43 14 China Jianyin Investment Securities Co.,Ltd. 6210.05 0.00 6210.05 15 Ping An Securities Co., Ltd. 4038.76 0.46 4039.22 16 Essence Securities Co., Ltd. 3652.18 1.72 3653.90 17 Qilu Securities Co., Ltd. 3587.52 0.00 3587.52 18 China International Capital Co., Ltd. 3288.22 0.26 3288.48 19 China Securities Co., Ltd. 1746.01 0.26 1746.27 20 Guoyuan Securities Co., Ltd. 1259.91 0.65 1260.56

2011 Fact Book 181 Members

Top 20 Members by Balance of Margin Trading and Short Selling in 2010

Balance of Short Selling Balance of Margin Trading Total (RMB No Name (RMB 10,000) (RMB 10,000) 10,000)

1 Haitong Securities Co., Ltd. 4.02 131966.89 131970.92

2 China Merchants Securities Co.,Ltd 0.00 109312.57 109312.57

3 Guotai Junan Securities Co.,Ltd 52.73 104522.40 104575.13

4 CITIC Securities Co., Ltd. 279.86 93663.48 93943.33

5 Everbright Securities Co.,Ltd. 10.38 91733.17 91743.55

6 GF Securities Co.,ltd. 0.38 62997.55 62997.93

7 Huatai Securities Co., Ltd. 43.44 60852.82 60896.26

8 Guosen Securities Co., Ltd. 6.39 57392.82 57399.22

9 Shenyin & Wanguo Securities Co., Ltd. 0.00 52643.65 52643.65

10 China Galaxy Securities Co.,Ltd 12.81 33571.46 33584.27

11 Orient Securities Co., Ltd. 0.00 19593.93 19593.93

China Jianyin Investment Securities 12 0.00 4300.75 4300.75 Co.,Ltd.

13 Great Wall Securities Co.,Ltd. 0.00 3978.43 3978.43

14 Changjiang Securities Co.,Ltd. 0.00 3735.94 3735.94

15 Essence Securities Co., Ltd. 0.00 2914.56 2914.56

16 China International Capital Co., Ltd. 0.00 2478.94 2478.94

17 Ping An Securities Co.,Ltd. 0.00 1982.92 1982.92

18 Qilu Securities Co., Ltd. 0.00 1409.05 1409.05

19 Guoyuan Securities Co., Ltd. 0.00 1104.18 1104.18

20 Hong Yuan Securities Co.,Ltd. 0.27 876.17 876.44

2011 Fact Book 182 Members

Number of Trading Accounts with SSE 1991-2010

Year 1991 1992 1993 1994 1995 1996 1997 1998 1999

Number of Accounts (10,000) 11 111 424 575 685 1208 1713 1999 2272

Year 2000 2001 2002 2003 2004 2005 2006 2007 2008

Number of Accounts (10,000) 2940 3430 3556 3644 3787 3856 4101 7131 7973

Year 2009 2010

Number of Accounts (10,000) 8965 9851

Breakdown of B-share Investors by Jurisdiction

Number of Trading Percentage in Total New Trading Accounts in Percentage in Total Region Accounts Accounts (%) 2010 New Accounts (%) China (Mainland) 1332879 87.24 22490 91.85 United States 13801 0.90 491 2.01 Taiwan, China 8489 0.56 281 1.15 Hong Kong SAR, 17020 1.11 184 0.75 China Canada 3420 0.22 129 0.53 Japan 4456 0.29 87 0.36 United Kingdom 2266 0.15 80 0.33 China (Overseas) 125862 8.24 75 0.31 Australia 3154 0.21 59 0.24 Singapore 1896 0.12 48 0.20 Korea 1711 0.11 46 0.19 Germany 694 0.05 24 0.10 France 624 0.04 15 0.06 Holland 396 0.03 11 0.04 Macao SAR, 796 0.05 7 0.03 China Others 10383 0.68 459 1.87 Total 1527847 100.00 24486 100.00

2011 Fact Book 183

Shanghai Securities Market

2011 Fact Book 185 Shanghai Securities Market

2011 Fact Book 186 Historical Statistics

Historical Statistics

Early Share Turnover Value, 1991-2010

Date of Date of Average Highest Lowest Average Daily Daily Trading Turnover Turnover Annual Turnover Number of Turnover Year Volume Turnover (RMB 100 million) Trading Days (RMB 100 Turnover (100 million (RMB million) (RMB 100 Date Date shares) 100 million) million) 1991 46.08 256 0.18 0.0002 2.01 19911231 0.008 19910517

1992 323.85 255 1.27 0.07 4.82 19921130 0.08 19920207

1993 2509.71 259 9.69 0.6 38.43 19931207 0.001 19930227

1994 5735.52 252 22.76 2.61 157.54 19940906 1.6 19940712

1995 3102.36 251 12.36 2.05 114.3 19950522 1.14 19950208

1996 9114.82 247 36.9 4.46 192.74 19961203 1.53 19960209

1997 13763.52 243 56.64 5.01 159.83 19970512 11.51 19971014

1998 12386.11 246 50.35 4.59 119 19980409 16.48 19981221

1999 16965.79 239 70.99 6.53 404.43 19990625 11.62 19990104

2000 31373.86 239 131.27 10.2 472.62 20000217 42.92 20000927

2001 22709.38 240 94.62 7.58 234.13 20011024 27.27 20011115

2002 16959.09 237 71.56 7.52 494.80 20020624 26.60 20021008

2003 20824.14 241 86.41 11.17 330.16 20030416 27.24 20030103

2004 26470.60 243 108.93 14.85 286.68 20040924 31.67 20040907

2005 19240.21 242 79.51 16.47 221.58 20050818 36.75 20050707

2006 57816.60 241 239.90 42.67 626.89 20061206 67.63 20060313

2007 305434.29 242 1262.13 100.52 2712.94 20070530 502.08 20071123

2008 180429.95 246 733.46 66.31 1896.84 20080424 217.96 20080909

2009 346511.91 244 1420.13 138.03 2969.29 2009729 461.01 20090105

2010 304312.009 242 1257.488 107.29 3076.923 20101102 432.142 20100705

2011 Fact Book 187 Historical Statistics

Historical Highs in Stock Turnover

Daily All-time Highs in Turnover Value Rank Date Turnover (RMB10,000) 1 2010-11-02 30769228.81 2 2010-10-18 30130725.65 3 2010-11-12 29876868.16 4 2009-07-29 29692889.17 5 2009-11-24 29077692.90 6 2010-11-11 28825572.40 7 2010-11-05 27378871.64 8 2010-10-15 27296221.86 9 2007-05-30 27129417.55 10 2010-10-14 26512225.14

Monthly All-time Highs in Turnover Value Rank Date Turnover (RMB10,000) 1 200907 473348150.75 2 201011 459221196.35 3 200705 392825190.85 4 200911 391509476.83 5 201010 368912823.25 6 200708 355977025.69 7 200706 353325027.52 8 200908 333670929.92 9 200704 320068667.95 10 200912 319499472.05

Quarterly All-time Highs in Turnover Value Rank Date Turnover (RMB10,000) 1 2010-4 1093562840.23 2 2009-3 1090366122.12 3 2007-2 1066218886.32 4 2009-4 911044772.45

2011 Fact Book 188 Historical Statistics

5 2007-3 876488190.10 6 2009-2 851774845.98 7 2010-1 687069640.38 8 2010-3 658329652.60 9 2008-1 644085850.26 10 2007-4 612310862.51

2011 Fact Book 189 Historical Statistics

Top 10 Increases in SSE 50 Index (in percentage)

Rank Increase (%) Date Index at Close 1 9.673 2008-4-24 2981.186 2 9.414 2008-9-19 1650.537 3 8.459 2008-2-4 3796.130 4 8.200 2005-6-8 772.134 5 8.144 2008-8-20 2042.944 6 7.866 2008-9-22 1780.375 7 7.786 2008-11-10 1469.623 8 6.880 2009-3-4 1671.569 9 6.226 2007-8-20 3831.053 10 5.802 2008-11-19 1543.770

Top 10 Decreases in SSE 50 Index (in percentage)

Rank Decrease (%) Date Index at Close 1 -9.471 2007-2-27 2030.357 2 -8.181 2008-6-10 2480.763 3 -7.463 2008-1-22 3679.014 4 -7.274 2008-10-27 1305.705 5 -7.253 2007-6-4 2695.765 6 -7.235 2008-11-18 1459.109 7 -7.181 2008-1-28 3597.264 8 -7.066 2008-6-19 2201.340 9 -6.698 2009-8-31 2046.589 10 -6.567 2007-1-31 2052.905

Top 10 Increases in SSE 50 Index (in point)

Rank Increase (point) Date Index at Close 1 296.077 2008-2-4 3796.130 2 262.933 2008-4-24 2981.186 3 224.525 2007-8-20 3831.053

2011 Fact Book 190 Historical Statistics

4 191.430 2007-11-29 3975.709 5 175.863 2007-11-14 4247.162 6 164.640 2008-4-30 3125.533 7 157.687 2007-8-3 3520.144 8 153.845 2008-8-20 2042.944 9 150.060 2008-3-28 2910.511 10 143.802 2008-1-23 3822.816

Top 10 Decreases in SSE 50 Index (in point)

Rank Decrease (point) Date Index at Close 1 -296.696 2008-1-22 3679.014 2 -278.314 2008-1-28 3597.264 3 -228.662 2007-11-8 4154.969 4 -221.026 2008-6-10 2480.763 5 -220.244 2008-1-21 3975.710 6 -212.407 2007-2-27 2030.357 7 -210.823 2007-6-4 2695.765 8 -193.435 2007-5-30 2857.002 9 -186.438 2007-10-25 4364.123 10 -180.781 2007-9-11 3992.034

2011 Fact Book 191 Historical Statistics

Top 10 Increases in SSE 180 Index (in percentage)

Rank Increase (%) Date Index at Close 1 9.941 2001-10-23 3252.329 2 9.640 2002-6-24 3145.021 3 9.361 2008-9-19 4646.217 4 9.291 2008-4-24 8467.245 5 9.287 2000-2-14 3611.194 6 9.251 1996-12-18 2492.852 7 8.367 1997-2-19 2647.419 8 8.359 2008-2-4 10962.100 9 8.153 2005-6-8 2131.830 10 8.150 1996-9-23 2380.006

Top 10 Decreases in SSE 180 Index (in percentage)

Rank Decrease (%) Date Index at Close 1 -9.978 1996-12-16 2503.090 2 -9.424 1997-2-18 2443.012 3 -9.292 2007-2-27 5629.336 4 -8.842 1996-12-17 2281.762 5 -8.305 1998-8-17 2686.767 6 -8.166 2008-6-10 7172.485 7 -7.726 2008-1-22 10606.500 8 -7.699 2007-6-4 7768.518 9 -7.569 1997-5-22 3773.982 10 -7.512 1999-7-1 3907.150

Top 10 Increases in SSE 180 Index (in point)

Rank Increase (point) Date Index at Close 1 845.600 2008-2-4 10962.100 2 719.788 2008-4-24 8467.245 3 606.570 2007-8-20 10905.940

2011 Fact Book 192 Historical Statistics

4 488.150 2007-11-14 11646.790 5 468.420 2007-11-29 11005.300 6 458.920 2008-1-23 11065.420 7 426.313 2008-8-20 5738.693 8 419.333 2008-4-30 8875.784 9 400.099 2008-4-7 8533.584 10 398.938 2008-3-28 8623.912

Top 10 Decreases in SSE 180 Index (in point)

Rank Decrease (point) Date Index at Close 1 -888.120 2008-1-22 10606.500 2 -780.400 2008-1-28 10497.910 3 -647.975 2007-6-4 7768.518 4 -637.818 2008-6-10 7172.485 5 -622.945 2007-5-30 8497.412 6 -619.730 2007-11-8 11458.590 7 -595.890 2008-1-21 11494.620 8 -585.530 2007-10-25 12034.160 9 -576.664 2007-2-27 5629.336 10 -551.140 2007-9-11 11459.810

2011 Fact Book 193 Historical Statistics

Top 10 Increases in SSE Composite Index (in percentage)

Rank Increase(%) Date Index at Close 1 105.269 1992-5-21 1266.490 2 33.457 1994-8-1 445.640 3 30.987 1995-5-18 763.510 4 29.904 1992-11-25 571.630 5 21.371 1994-8-5 683.040 6 20.889 1994-8-3 522.980 7 18.981 1994-8-10 739.560 8 16.436 1993-6-2 1081.200 9 15.522 1992-12-11 722.280 10 13.632 1992-11-30 724.600

Top 10 Decreases in SSE Composite Index (in percentage)

Rank Decrease(%) Date Index at Close 1 -16.394 1995-5-23 750.300 2 -13.076 1993-12-20 783.790 3 -12.675 1994-8-9 621.580 4 -11.751 1993-3-22 1036.920 5 -11.177 1992-10-27 450.280 6 -10.710 1994-10-5 706.420 7 -10.636 1994-10-13 635.390 8 -10.460 1993-3-1 1199.730 9 -10.443 1992-8-11 863.410 10 -10.301 1993-5-24 1026.130

Top 10 Increases in SSE Composite Index (in point)

Rank Increase (point) Date Index at Close 1 649.500 1992-5-21 1266.490 2 351.403 2008-2-4 4672.170 3 304.698 2008-4-24 3583.028

2011 Fact Book 194 Historical Statistics

4 254.576 2007-11-14 5412.694 5 248.281 2007-8-20 4904.855 6 199.939 2007-11-29 5003.333 7 180.620 1995-5-18 763.510 8 179.254 2008-9-19 2075.091 9 178.813 2008-8-20 2523.282 10 169.701 2008-4-30 3693.106

Top 10 Decreases in SSE Composite Index (in point)

Rank Decrease (point) Date Index at Close 1 -354.684 2008-1-22 4559.751 2 -342.394 2008-1-28 4419.294 3 -330.341 2007-6-4 3670.401 4 -281.836 2007-5-30 4053.088 5 -280.715 2007-10-25 5562.394 6 -271.760 2007-11-8 5330.023 7 -268.808 2007-2-27 2771.791 8 -266.079 2008-1-21 4914.435 9 -257.337 2008-6-10 3072.333 10 -241.319 2007-9-11 5113.968

2011 Fact Book 195 Historical Statistics

Listed Shares at SSE, 1990-2010

Number Number Proceeds Raised Share Capital Issued Market Cap (RMB 100 Year of Listed of Listed (RMB 100 million) (100 million shares) million) Companies Securities 1990 8 30 10.11 2.61 12.34

1991 8 46 0.24 2.72 29.43

1992 29 87 41.39 46.94 558.4

1993 106 190 93.47 235.54 2206.2

1994 171 259 150.82 418.88 2600.13

1995 188 258 58.16 560.66 2525.66

1996 293 368 202.22 749.86 5477.81

1997 383 467 474.6 975.37 9218.06

1998 438 526 377.15 1280.35 10625.9

1999 484 576 486.37 1580.15 14580.47

2000 572 657 914.32 2032.42 26930.86

2001 646 744 957.49 3164.44 27590.56

2002 715 826 614.3 3727.84 25363.72

2003 780 914 560.96 4170.39 29804.92

2004 837 996 456.9 4700.55 26014.34

2005 834 1069 299.77 5023.05 23096.13

2006 842 1126 1714.41 10279.54 71612.38

2007 860 1125 6701.33 14173.1 269838.87

2008 864 1184 2238.16 15410.39 97251.91

2009 870 1351 3343.15 16659.96 184655.23

2010 894 1500 5532.14 21939.51 179007.24

2011 Fact Book 196 Historical Statistics

Major Events and Milestones in SSE History

1990 November 26 SSE made its debut in Shanghai.

December 19 SSE commenced operations.

1991 July 8 SSE adopted a centralized depository system for stocks, which set in motion paperless trading. July 15 SSE launched the first stock index.

1992 February 21 China’s first B share company, Shanghai Vacuum Electron Devices, got listed on SSE.

May 21 Price limits on shares were lifted to allow for free auction.

December 28 T-bond futures trading and clearing system was put into operation.

1993 April 26 SSE put into use the satellite data broadcasting system.

May 10 Securities registration company started operation.

December 15 SSE rolled out T-bond repo.

December 22 SSE launched two-way satellite data communication system.

December SSE completed its transformation into a nation-wide market.

1994 August 9 Harbin Shirble became the first company to launch its A-share IPO through online competitive bidding. October 24 SSE introduced a real-time information disclosure system.

1995 April 11 Yizheng Chemical Fiber became the first to offer its A-share IPO shares online at a fixed price. April 19 SSE launched an automatic A-share inquiry system.

May 18 T-bond futures were suspended from trading.

1996 May 18 SSE put into operation the surveillance system.

July 1 SSE launched SSE 30 Index.

September 24 SSE adopted a trading model that allowed for both physical seat trading and virtual seat trading, with the latter dominating the market. September 28 SSE made changes to the constituents of SSE 30 index for the first time.

December 16 SSE imposed a 10% daily up/down limits on trading prices of shares and funds.

2011 Fact Book 197 Historical Statistics

1997 March 1 Disclosure requirement is introduced in share and fund transactions.

April Shanghai Stock Communication Co. Ltd was established

April 19 SSE implemented a regular meeting system that required board secretaries to attend board meetings. August 15 SSE was put under the direct administration of the CSRC.

December 19 SSE moved to Shanghai Stock Exchange Building.

1998 January 1 The Rules Governing the Listing of Stocks on Shanghai Stock Exchange came into effect.

April 1 The Measures of Shanghai Stock Exchange for the Implementation of Designated Stock Broking System (Trial Implementation) took effect. April 22 SSE began to place the listed companies with abnormal financial status under special treatment. December 29 The Securities Law of the PRC was adopted at the 6th Meeting of the Standing Committee of the 9th National People’s Congress. 1999 March 3 SSE started a pilot program first in Shenzhen to allow securities companies to open accounts for investors. June 1 Stamp duties on B share trading were slashed from 4‰ to 3‰.

July 1 The Securities Law of the PRC became effective.

July 2 SSE published the Circular on the Particular Transfer of Shares Suspended from Listing. According to the Circular, shares suspended from listing would be traded on each Friday as Particular Transfer. November 2 China Jialing became the first to experiment with placement of state-owned shares.

November 10 Shanghai Pudong Development Bank was listed on SSE, the first listing of a bank issue at SSE. December 6 Shenergy's proposal to buy back its state-owned legal person shares won the approval of the CSRC. December 25 The National People’s Congress adopted the Decision on Revising the Company Law of the PRC and the Amendment to the Criminal Law of the PRC. 2000 February 13 In a move to reform share issue method, the CSRC issued the Circular on Relevant Issues Concerning Placing New Shares to Secondary Market Investors. February 23 Hongqiao Airport issued convertible bonds, the first additional convertible bond sale by a listed company in China. March 14 The CSRC announced that transferred rights shares could be traded in the market starting from April. June 17 SSE lifted the daily down limit on shares labeled PT (particular transfer), with the 5% daily up limit remained unchanged. November 2 SSE unveiled the Guidelines on Corporate Governance of Listed Companies (Draft).

2011 Fact Book 198 Historical Statistics

2001 February 20 Following the approval of the State Council, the CSRC decided to allow domestic residents to open accounts for B-share trading. April 24 PT Narcissus was delisted from SSE, the first time in the history of China’s stock market that a listed company was removed. As a result, the number of listed companies on SSE fell from 608 to 607. June 8 SSE released its new listing rules.

August 17 China's first open-end fund, Hua’an Innovation Fund, was approved to be launched.

November 16 Stamp duties on both A share and B share trading were reduced to 2‰.

2002 January 10 The CSRC and State Economic & Trade Commission jointly released the Code of Corporate Governance for Listed Companies. January 15 The Supreme People’s Court issued the Circular on Relevant Issues Concerning Acceptance of Cases of Disputes over Civil Tort Arising from False Statement in the Securities Market, signaling the introduction of civil compensation mechanism in China’s securities market. February 25 SSE and Shenzhen Stock Exchange (SZSE) revised Chapter 10 (Suspension of Listing, Resumption of Listing and Termination of Listing) of the Listing Rule, which put an end to the particular transfer system (PT). April 5 The CSRC, the State Development Planning Commission, and the State Administration of Taxation jointly promulgated the Circular on Adjusting the Standards for Commission Fees on Securities Transactions, under which a floating commission ratio would be adopted from May 1. June 4 The CSRC promulgated the Rules on the Establishment of Securities Companies with Foreign Equity Investment and the Rules on the Establishment of Fund Management Companies with Foreign Equity Investment, marking a milestone in China’s opening up of its capital market to the outside world. June 25 The State Council called halt to the reduction of state-owned shares of listed companies on the securities market. July 1 SSE formally launched SSE 180 Index in substitution of SSE 30 Index.

October 7 The International Federation of Stock Exchanges accepted SSE and SZSE as its full members at its 42nd annual meeting. November 8 The CSRC announced China would implement a qualified foreign institutional investors (QFII) program on December 1, which indicated China had opened its securities market to qualified foreign investors. December 19 SSE launched its new website.

December 28 Shang Fulin took office as the chairman of the CSRC. Former CSRC chairman Zhou Xiaochuan was appointed as Governor of the People’s Bank of China. 2003 January 2 SSE launched SSE T-bond Index, which plugged a gap in bond index series.

January 10 SSE rolled out block trade business.

March 3 SSE and SZSE changed the tick size for fund trading from RMB 0.01 to RMB 0.001.

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April 4 SSE and SZSE issued the Circular on Relevant Issues Concerning Strengthening Risk Alerts of Listed Companies with Delisting Risks. According to the Circular, a *ST label would be added before the name of a stock that is under special treatment and involves delisting risks. April 9 The former and new majority shareholders of Nanjing Iron & Steel disclosed a report on the changes in their shareholdings and another report on tender offer, the first tender offer in China’s securities market. May 19 SSE rolled out 2-day T-bond repo. As a result, a complete product line of T-bond repo with a term less than 7 days was created. July 7 SSE built a broadband broadcasting system.

August 20 SSE’s block trade system was up and running.

September 30 TCL Group said it would acquire and merge with its subsidiary TCL Communications for an overall listing. The landmark deal was the first of its kind in China’s securities market. October 28 The Securities Investment Fund Law of the PRC was adopted with effect from June 1, 2004. November 18 Wuhan Iron & Steel said in a statement it would launch both private placement of state- owned legal person shares and public offering of tradable shares in the coming additional share sale with an aim to list the principal assets of its group as a whole, a brand new model of financial innovation in China. December 8 SSE adjusted the displayed offer/bid prices and would provide on a real-time basis 5 best offer/ bid prices via the broadband broadcasting system and synchronous digital hierarchy (SDH). December 28 The CSRC issued the Interim Measures for the Sponsorship System for Offering and Listing of Securities.

2004 January 9 SSE-sponsored Annual Investor Education Network Conference & Workshop on Investor Relations of Listed Companies was held in city of South China’s Guangdong province. The conference passed the Self-Regulatory Convention on Investor Relations Management by Listed Companies. January 15 SSE announced the availability of its new broadband broadcasting system, a new one-way digital broadcasting system. February 20 With one-year’s consistent effort, SSE completed construction of the phase I of its TB-level data warehouse, the largest and most comprehensive of its kind in China. July 12 SSE’s Disaster Recovery Center was put into operation, which further enhanced its disaster resistant and recovery capability. November 23 With the approval of the CSRC, SSE launched T-bond outright repo, a move with positive significance for risk control on the capital markets. November 29 SSE and SZSE jointly released the amended Rules Governing the Listing of Stocks on Shanghai Stock Exchange (2004 Revision) and the Rules Governing the Listing of Stocks on Shenzhen Stock Exchange (2004 Revision), with effect from December 10.

2011 Fact Book 200 Historical Statistics

December 13 SSE and SZSE announced their reform plan on annual membership fee structure. The new structure, to be effective within the year, would be based on order flow in lieu of the fixed annual fee structure. December 23 The SSE Shareholder Voting Platform passed expert appraisal.

December 30 China’s first exchange traded fund, SSE 50 ETF, was launched with an initial offering of up to 5.435 billion units. 2005 January 24 With the approval of the State Council, the Ministry of Finance cut the securities trading stamp duty by half from 2‰ to 1‰, effective from January 24. February 20 SSE imposed a limit on the offer/bid prices for SSE 50 ETF on the first trading day. The net value of the fund unit on the trading day immediately preceding the listing date was taken as the opening reference price, with the trading price moving around the base price within a band of 10%. April 8 Shanghai and Shenzhen 300 Index was officially launched. The index, later known as CSI Index, was the fruit of concerted efforts by China’s two bourses. It used December 31, 2004 as the base day with a base point of 1000. The code of the index is 000300 on SSE and 399300 on SZSE. May 8 Tsinghua Tongfang, Sany Heavy Industry, Zijiang Enterprise and Jinniu Energy became the forerunners in the non-tradable share reform. May 13 SSE became the first in China’s securities industry to be granted the direct membership of Extensible Business Reporting Language (XBRL) International Organization. June 10 Sany Heavy Industry’s share reform plan was adopted at the shareholders’ meeting with overwhelming approval. It was the first listed company to have its share reform plan adopted and implemented since China’s launch of the pilot program for non-tradable share reform. June 14 In support of the non-tradable share reform, SSE issued the Interim Measures for the Administration of Warrant Business, symbolizing a significant step toward the launch of warrants. July 18 SSE and SZSE respectively promulgated the Interim Measures for the Administration of Warrant Business, which covered the definition, types, issuance, listing, performance guarantee, trading, exercise as well as penalties on breaches with regard to warrants. July 19 After more than one year’s preparation and all-out effort, the Rules on Handling Subscription, Purchase and Redemption of Open-end Funds (Trial Implementation) hammered out by SSE were endorsed by the CSRC. Such business was called SSE FundTrade for short. July 22 SSE launched the block bond trade bilateral quotation business for some institutional market participants. The Detailed Implementation Rules for Block Trades were modified accordingly. July 28 The National Information Security Application Demonstration Project ("S219 Project"), to which SSE was a participant, won the First Shanghai Science and Technology Progress Prize. August 22 Trading in warrants was restarted after being banned in 1996. The 387.7 million units of a call warrant based on the shares of Baoshan Iron & Steel made debut on SSE.

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August 23 Following the approval of the State Council, five State Ministries and Commissions, namely, the CSRC, the State Assets Supervision and Administration Commission, the Ministry of Finance, the PBOC and the Ministry of Commerce, jointly promulgated the Guiding Opinions on Non-tradable Share Reform of Listed Companies. On September 4, the CSRC officially announced the Measures for the Administration of Non-tradable Share Reform of Listed Companies. On September 7, SSE, SZSE and China Securities Depository & Clearing Co., Ltd. jointly released the Implementation Guidelines on Non-tradable Share Reform of Listed Companies. So far, all the supporting documents relating to the share reform were in place. August 26 China International Capital Co., Ltd. successfully launched Unicom CDMA Network Lease Fee Income Scheme, raising RMB 3.2 billion. It was the first special asset management scheme ever approved by the CSRC. On September 6, SSE’s block trading system began providing transfer service to the scheme. September 12 The non-tradable share reform had entered a phase of steady development. 12 listed companies including Shanghai Automotive and Minsheng Bank became the forerunners at SSE to carry out the reform of non-tradable shares. September 23 China Securities Index Co., Ltd. was established in Shanghai. The indexing firm is a 50-50 joint venture between SSE and SZSE. October 31 SSE-developed China Listed Company Information Disclosure Taxonomy Framework, or China XBRL Taxonomy, became China’s first taxonomy to be granted Acknowledged status by XBRL International. November 2 The State Council endorsed the Opinions on Improving the Quality of Listed Companies formulated by the CSRC. November 22 SSE issued the Circular on Relevant Issues Concerning Creation of Warrants on the Shares of Wuhan Iron & Steel by Securities Companies, under which, securities companies eligible for pilot innovations as recognized by the Securities Association of China were qualified for creating such warrants. On November 25, as many as 10 securities companies created a combined 1.127 billion Wuhan Iron & Steel put warrants. On November 30, cancellation was introduced in the warrants market for the first time with a total of 143 million Wuhan Iron & Steel put warrants cancelled. December 19 SSE completed the data warehouse project, the largest TB-level data warehouse in China’s financial industry. SSE data warehouse was the largest civil data warehouse in China’s securities market and also one of the three largest stock exchange data warehouses in the world. To meet the need of the on-going share structure reform and market demand, SSE announced it would launch a new SSE Composite Index on the first trading day of 2006. As a fresh benchmark for investors, the new index would select SSE-listed companies that had completed share structure reform as the constituents to track the movement of such companies. The index would be based on the combined market capitalization of all the index constituents on December 30, 2005, with a base point of 1000. The new SSE Composite Index would be called SSE New Composite Index for short and its code would be 000017. 2006 January 4 SSE launched SSE New Composite Index, which selected SSE-listed companies that had completed the non-tradable share reform as the constituents and took December 30, 2005 as the base day and the total market capitalization of all the index constituents on the same day as the base period, with a base point of 1000.

2011 Fact Book 202 Historical Statistics

January 5 The Ministry of Commerce, the CSRC, the State Administration of Taxation, the State Administration for Business & Commerce and the Sate Administration of Foreign Exchange jointly promulgated the Measures for the Administration of Strategic Investment in Listed Companies by Foreign Investors. The CSRC released the Measures for the Administration of Stock Incentive Plans of Listed Companies (Trial Implementation). February 16 The Ministry of Finance promulgated 39 accounting standards and 48 auditing standards. Listed companies were required to adopt the new accounting rules from January 1, 2007. March 21 The CSRC released the Guidelines on the Articles of Association of Listed Companies (2006). May 8 The Measures for the Administration of Offering of Securities by Listed Companies promulgated by CSRC became effective. New pledge-style T-bond repo was launched. May 12 SSE issued the revised Stock Listing Rules following the revision of the Securities Law. It was SSE’s 5th revision of the Rules ever since. May 15 SSE issued the Trading Rules of Shanghai Stock Exchange.

June 5 SSE issued the Guidelines on the Internal Control of Listed Companies.

June 23 Datong Coal was listed on SSE. It was the first IPO listing since the regulatory authority suspended all IPOs the previous year to pave way for the non-tradable share reform program. July 1 The newly revised Trading Rules of Shanghai Stock Exchange became effective. Call auction was revised to open call auction. July 5 SSE-developed China Fund Company Information Taxonomy Framework was granted Acknowledged status by XBRL International.

July 18 SSE formally launched Level-2 market data.

August 1 The CSRC issued the Measures for the Administration of Takeover of Listed Companies, with effect from the same day, which created a market-driven system for taking over listed companies. August 30 The warrant on Baoshan Iron & Steel expired and was exercised, indicating that the first warrant launched for facilitating the non-tradable share reform ceased trading in due course. September 8 China Financial Futures Exchange was officially inaugurated. It was co-invested by SSE and other four domestic exchanges and is the 4th futures exchange and the first financial derivative exchange in China. October 9 The prefix G was deleted from the short name of listed companies that had completed the non-tradable share reform, while an S was placed before the short name of companies that were yet to finish the reform. This meant the non-tradable share reform had been largely completed. October 16 SSE was elected to the WFE Board and SSE Chairman Mr. Geng Liang was elected as a Board member. October 27 Industrial and Commercial Bank of China (ICBC) was listed on SSE. It raised RMB 46.6 billion from the share sale, the largest-ever IPO listing since SSE’s inception. ICBC was also the first company to conduct a simultaneous A+H dual listing at the same offering price.

2011 Fact Book 203 Historical Statistics

November 29 China’s first-ever convertible bond with detachable warrant, the convertible bond of Maanshan Iron & Steel, was listed on SSE. December 19 SSE’s public inquiry hotline was in operation.

2007 January 8 A special share sector called S Sector was established. S shares are subject to a daily price up/down limit of 5% February 2 SSE released the Measures for the Administration of Information Disclosure by Listed Companies. April 19 SSE promulgated the Detailed Implementation Rules of Shanghai Stock Exchange on the Participant Business Unit (PBU). May 1 The Rules of Shanghai Stock Exchange on the Administration of Members became effective. May 8 The Participant Business Unit (PBU) was formally put into operation.

May 15 SSE released the Detailed Implementation Rules of Shanghai Stock Exchange on Designated Trading. May 30 Equity transactions at SSE set new records, with RMB 271.2 billion worth of shares traded, 25.70 million transactions executed, 19.72 million valid orders placed, and 20.6 billion shares changing hands. The capacity of the Trading System was expanded to 55 million orders and 71 million transactions per day. June 7 SSE signed a MOU with Cairo & Alexandria Stock Exchanges (CASE).

June 8 The old and new pledge-style repos in treasury bonds were integrated, putting an end to the old pledge-style repos. June 21 China Southern Airlines warrant, China’s first warrant product settled in cash, was listed on SSE. July 6 SSE released the Measures of Shanghai Stock Exchange for Pilot Transactions on the Integrated Electronic Platform for Fixed-income Securities. July 7 The State-owned Assets Supervision and Administration Commission and China Securities Regulatory Commission (CSRC) jointly promulgated the Interim Measures for the Administration of the Transfer of Shares of Listed Companies Held by State-owned Shareholders. July 25 SSE issued the Detailed Implementation Rules of Shanghai Stock Exchange on Bond Transactions (Revision). July 25 The Integrated Electronic Platform for Fixed-income Securities was put into trial operation. 07 T-bond (11) became the first T-bond to be listed on the Electronic Platform. CSI 300 Sector Indices were launched.

August 13 SSE signed the Memorandum on Cross-market Supervision of the Stock Market and the Stock Index Futures Market with China Financial Futures Exchange (CFFEX). August 29 SSE released the Rules on the Listing of Securities Investment Funds on Shanghai Stock Exchange (Revision).

2011 Fact Book 204 Historical Statistics

September SSE promulgated the Rules on the Listing of Corporate Bonds. 18 September24 China’s first corporate bond, 07 Yangtze Power Corporate Bond, was issued through both online public offering and off-line private placement. October 12 07 Yangtze Power Corporate Bond, the first domestic corporate bond, was listed on SSE’s Integrated Electronic Platform for Fixed-income Securities. October SSE hosted the 47th General Assembly and Annual Meeting of the World Federation of 14-19 Exchanges (WFE). October 16 SSE Composite Index hit its all-time high of 6124.04 points.

November 5 Petrochina raised RMB 66.8 billion from its initial public offering, making it the ever-largest IPO in the history of SSE. November SSE released the Interim Regulations on the Review System and announced the members 19 of the Review Committee. 2008 January 2 SSE and China Securities Index Co., Ltd. (CSI) officially launched the SSE Corporate Governance Index. January 21 With the approval of China Securities Regulatory Commission (CSRC), the electronic offline IPO solution for Shanghai market and relevant detailed rules were released. February 1 SSE and CSI jointed announced that the detailed rules on the free float of all SSE and CSI constituent indices would be adjusted from that day. March 25 The Guidelines on the Contents and Formats of Specific Asset Management Contracts were promulgated, marking the substantial implementation of separate account management by fund managers March 26 In response to the abnormal trading in China Southern Airlines warrants, the surveillance straight-through processing mechanism was initiated to provide aid in probing into the situation. March 27 The electronic offline IPO platform was put into formal operation and the system functioned properly. April 1 SSE issued the Contingency Plan of Shanghai Stock Exchange for Responses to Extraordinary Circumstances During Trading. April 1 SSE issued a written decision of review to Daqing Lianyi, completing all the required review procedures for delisting of the company. April 21 SSE issued the Operational Guidelines of Shanghai Stock Exchange for the Transfer of Shares Released from Sale Restrictions on the Block Trading System. April 21 SSE and Shenzhen Stock Exchange (SZSE) issued a circular on relevant issues concerning implementing the CSRC’s Guiding Opinion on the Transfer of Shares of Listed Companies Released from Sale Restrictions, which was the first policy in support of the Guiding Opinion. April 23 With the approval of the State Council, the Ministry of Finance and the State Administration of Taxation decided to slash share trading stamp tax from 3‰ to 1‰, effective from April 24, 2008. The tax would be levied on both parties to the equity transfer deed for the trading, inheritance or donation of A Shares or B Shares. April 25 Zijin Mining became the first company to launch its A-share IPO on SSE with a par value less than RMB 1 apiece.

2011 Fact Book 205 Historical Statistics

May 8 SSE issued the Detailed Implementation Rules of Shanghai Stock Exchange on the Administration of Securities Trading Activities of Members’ Clients. May 14 SSE issued the Guidelines of Shanghai Stock Exchange on Real-time Monitoring of Abnormal Securities Trading. May 19 SSE suspended market trading for 3 minutes starting from 14:28 on May 19 to mourn for Sichuan earthquake victims. May 27 SSE issued the Guidelines for Special Trading Sessions on Block Trading System (Trial Implementation). June 2 SSE and China Securities Depository & Clearing Co., Ltd. (SD & C) jointly released the Circular on Relevant Issues Concerning Cash Settlement for Exercise of China Southern Airline Warrants. It was the first rule in China in this regard. June 20 The first special trading session on the block trading system was held.

June 20 SSE granted certificates to the first group of qualified investors.

June 20 China Southern Airline Put Warrants expired and were delisted.

July 1 SSE decided to waive 2008 annual listing fees for 71 listed companies in earthquake- stricken Sichuan, Gansu and Shaanxi Provinces and Chongqing Municipality, the initial listing fees and annual listing fees for companies from these areas to be listed on SSE in 2008, and the listing fees for convertible bonds with detachable warrants from these areas to be issued and listed in 2008.The above companies' secretaries and other senior management will also be exempted from training fees in 2008. Moreover, 24-hour technical support and door-to-door service will be provided for member companies in the disaster-hit areas. July 1 SSE issued the Detailed Implementation Rules of Shanghai Stock Exchange on Disciplinary Actions. July 4 SSE issued the Detailed Implementation Rules on the Management of Technologies in Members’ Trading System and Relevant System. August 26 The rules on the management of postdoctoral research fellows were adopted and the first batch of postdoctoral fellows entered SSE’s postdoctoral center. August 29 SSE formulated and issued the Guidelines for Increase of Shares of Listed Companies by Shareholders and Persons Acting in Concert in an attempt to regulate shareholders’ and concerted parties’ increase of stake in listed companies. September 4 SSE promulgated the Rules Governing the Listing of Stocks on Shanghai Stock Exchange (2008 Revision). September 10 SSE formally launched the SSE 180 Corporate Governance Index.

September 25 SSE released the Guidelines of Shanghai Stock Exchange on the Behavior of Individual Investors September 25 SSE amended the Guidelines for Increase of Shares of Listed Companies by Shareholders and Persons Acting in Concert. September 26 SSE issued the Detailed Implementing Rules of Shanghai Stock Exchange on Bond Transactions to further promote the development of the bond market.

2011 Fact Book 206 Historical Statistics

October 6 SSE issued the Circular on Waiving Relevant Fees on Bond Spot and Repo Transactions. According to the Circular, from October 6, 2008 to November 30, 2009, spot and repo transactions of T-bonds, enterprise bonds and corporate bonds (including convertible bonds) on the auction trading system, the block trading system and the fixed income platform would be exempt from handling fees and traffic fees to be paid by trading participants to SSE as well as the use fees and transfer rate fees for bond spot and repo transactions executed through the Participant Business Unit. October 7 The mode of order placement and quotation for corporate bonds is adjusted. Orders for corporate bond transactions will be placed through securities accounts instead of the Participant Business Unit and the corporate bonds will be quoted at clean price, instead of gross price, and be settled at gross price. October 13 SSE completed the work in relation to securities account-based trading of original enterprise bonds. October 20 SSE and HKex signed an agreement on basic real-time market data collaboration programme (the market data for the companies with listings in the two markets, or A+H). October 25 SSE conducted its first market-wide test for margin trading and short sales and made further preparation for the launch of the business. October 27 SSE started technical preparation for CSI 300 ETF.

November 19 SSE formally launched SSE Corporate Bond Index and Detachable Convertible Bond Index.

December 1 The convertible bonds with detachable warrants were allowed for new pledge-style repo transactions. December 1 SSE issued the Measures of Shanghai Stock Exchange on the Administration of the Qualifications of Board Secretaries of Listed Companies and the Measures of Shanghai Stock Exchange on Performance Appraisal of Board Secretaries of Listed Companies.

2009 January 9 Shanghai Financial Transaction Square foundations laid

January 21 SSE Signed a closer cooperation agreement with the Hong Kong Stock Exchange in Shanghai January 23 the Circular on Specific Matters Relating to Implementing Administrative Measures for the Acquisition of Listed Companies and Other Related Provisions was promulgated February 26 SSE held the SSE International index ETF and a Cooperation MOU Signing Ceremony

March 31 CSRC issued the Tentative Administrative Measures for IPOs and Listings on the Growth Enterprise Board, which came into effect on May 1. April SSE carried out a number of activities for the Supervision Action Quarter to effectively strengthen various aspects of supervision April 3 The first local government bond – a bond issued by the Xinjiang Uyghur Autonomous Region Government – was quoted and traded on SSE April 8 SSE issued the Shanghai Stock Exchange Share Listing Rules (2008 revision) (English version)

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April 14 The State Council issued the Opinions on Accelerating Development of Modern Services and Advanced Manufacturing Industries and Establishing an International Financial and Shipping Center in Shanghai May 25 SSE initiated a pilot program for pledge-style quoted repos

June 1 Hours for declarations of intent block transactions were extended to the whole day

June 17 New rules for subscription of newly-issued shares on SZSE and SSE were issued and the online subscription period was reduced by one day June 19 The State Council recently decided to implement the transfer of state-owned shares in the domestic securities market June 30 SSE completed annual inspections of secretaries to the boards of directors of IPO companies June 5 SSE launched China’s first innovative experimental platform based on financial simulation and modeling techniques July 3 The State-owned Assets Supervision and Administration Commission issued three documents including Certain Opinions on Regulating the Conduct of State-Owned Shareholders in Listed Companies July 14 TV program “Securities Lectures”, produced SSE in conjunction with experts in securities sector, was officially broadcast July 15 Sichuan Expressway launched an IPO, and IPO resumption work was conducted steadily

July 15 SSE officially issued the Guidelines on the Format of Ad Hoc Announcements by Listed Companies (2009 revision) July 16 SSE officially released the Guidelines on the Ongoing Supervision of Companies Listed on the Shanghai Stock Exchange August 7 CSRC issued the Standards for the Content and Format of Asset Management Contracts Between Fund Management Companies and Multiple Specific Clients August 25 SSE issued the Guidelines on the Election and Conduct of Directors of Companies Listed on the Shanghai Stock Exchange August 31 SSE 180 Corporate Governance Index ETF and feeder fund successfully issued

September 21 The first phase functions of the ERP system were finalized and successfully launched

September 25 Online centralized subscriptions for shares of the first 10 companies listed on the Growth Enterprise Market implemented October 19 SSE initiated the pilot program for outright share repo business

October 23 The Growth Enterprise Market was launched on SZSE

October 27 SSE Central Enterprises 50 ETF successfully issued and listed

October 30 The first group of 28 companies listed on the Growth Enterprise Market were officially quoted and traded

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November 2 SSE issued the Implementing Rules of the Shanghai Stock Exchange for Handling Unusual Trading Circumstances (for Trial Implementation) November 17 CSRC issued the Tentative Administrative Measures for the Valuation Business of Securities Investment Funds which would come into effect on January 1, 2010 November 23 SSE effected a successful switch-over to the new-generation trading system and put it into trial operation November 23 CSRC officially issued the Decision on Amending the Administrative Measures for the Registration and Settlement of Securities, with the amended Administrative Measures for the Registration and Settlement of Securities to come into effect on December 21 November Opinions were solicited from SSE listed companies for the Guidelines on the Conduct of Controlling Shareholders and Actual Controllers of Companies Listed on the Shanghai Stock Exchange (draft for comment) in the “special zone for listed companies” on the SSE website December 15 Corporate Governance ETF quoted and traded on SSE

December 18 SSE held the 8th Chinese Corporate Governance Forum

December 21 Cooperation MOU signed with major online media outlets including Sina

December 31 SSE published the Investor Education Series

December 31 The Ministry of Finance (MOF), the State Administration of Taxation (SAT) and the CSRC jointly printed and distributed the Circular on Collecting Individual Income Tax for Income Derived from Transferring the Restricted Shares of Listed Companies, under which individual income tax would be payable at the rate of 20% for income derived from transfers of restricted shares in listed companies from January 1, 2010.

2011 Fact Book 209 Historical Statistics

World Securities Markets

Statistics on Stock Exchanges around the World (as at end of December 2010)

Number of Listed Companies Market Cap Exchange Year-end Index Turnover (US$ million) (US$ million) Local Foreign

NYSE 7964.02(NYSE 1799 518 13394081.8 17795600.2 Composite Index)

Nasdaq 2652.87(Nasdaq 2480 298 3889369.9 12659197.9 Composite Index)

TSX 13443.22(S&P/TSX 3654 87 2170432.7 1368953.6 Composite Index)

LSE 3063.00(FTSE 100 2362 604 3613063.9 2741324.6 Index)

Euronext 2800.66 (SBF250) 983 152 2930072.4 2018076.7

Deutsche 368.72 (CDAX) 690 75 1429719.1 1628496.4 Börse AG

ASX 4846.90 ( All Ordinaries) 1913 86 1454490.6 1062649.5

Tokyo 898.80 (TOPIX Index) 2281 12 3827774.2 3787952.3 Stock Exchange SGX 3190.04 (Straits Times 461 317 647226.4 289307.2 Index)

Korea 2051.00 (KOSPI 1781 17 1091911.5 1607247.3 Exchange Composite Index)

Bursa .263, 948 8 408689.1 112291.7 Malaysia &RPSRVLWH,QGH[

National 4940.15 (S&P CNX 500 1551 1 1596625.3 801017.2 Stock Index) Exchange of India

2011 Fact Book 210 Historical Statistics

Stock 1032.76 (SET Index) 541 0 277731.7 214086.0 Exchange of Thailand HKEx 27392.78 (S&P/HKEx 1396 17 2711316.2 1496432.5 LargeCap Index)

Taiwan 8972.50 (TAIEX) 752 32 818490.5 903061.7 Stock Exchange

Source: http://www.world-exchanges.org

2011 Fact Book 211 Historical Statistics

Major Publications

SSE Monthly Market Statistics SSE 180 Index Quarterly Shanghai Securities Yearbook SSE Annual Reports SSE Annual Statistics SSE Market Data Securities Law Review (published biannually) Photograph Album for the 20th Anniversary of the Shanghai Stock Exchange’s Establishment

Report on Corporate Governance in Chinese Companies (2010): Independent Directors System and Practice

Research Report of the Research Centre of the Shanghai Stock Exchange (2010)

Joint Research Report of the Shanghai Stock Exchange (2010)

Shanghai Stock Exchange Collection of Advanced Papers

Chinese Corporate Governance: a Modern Perspective

Analysis of Exchange Competitiveness

History of the Shanghai Securities Exchange

Blue Dream (electronic audio-visual publication)

Investor Education Serials 2010: ETF Development and Innovation How Investors Subscribe for New Shares

2009: How Investors Analyze Annual Reports Guide to ETF Investment Handbook of Corporate Bonds

2011 Fact Book 212 Historical Statistics

Registered Trademarks of Shanghai Stock Exchange

Ϟ䆕

Ё䆕

Shanghai Zhengquan Jiaoyisuo

SSE

SSEINDEX

Ϟ⍋䆕Ѹ᠔ CNINDEX ϞѸ᠔ 180ᣛ᭄ Ϟ䆕᠔ ETFs UCI CSI GCI ᯧ⼲ YISHEN

Ć Registered Trademarks of Shanghai Stock Exchange. All Rights Reserved

2011 Fact Book 213