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Announcement on market evaluation of prospective underwriter members (banks)

According to Regulations on Debt Financing Instruments of Non-Financial Enterprises in the Interbank Bond Market (PBC Order [2008] No.1) and Rules on Market Evaluation of NAFMII Members Participating in the Underwriting of Debt Financing Instruments of Non-Financial Enterprises, and based on the results of market evaluation, NAFMII is issuing the following announcement regarding the addition of underwriters after getting approval from and registering with PBC,.

I. Citibank (China) Co., Ltd. can carry out underwriting of debt financing instruments of non-financial enterprises.

II. NAFMII members underwriting debt financing instruments of non-financial enterprises should set up an underwriting department staffed with professional underwriting personnel, put in place and continuously optimize operating procedures, risk management systems and internal control systems for underwriting business, and carry out this business in a standard way, in accordance with the Regulations on Debt Financing Instruments of Non-Financial Enterprises in the Interbank Bond Market, Rules for Intermediary Services for Debt Financing Instruments of Non-Financial Enterprises in the Interbank Bond Market and other self-regulatory rules.

III. Should the underwriter be subject to criminal penalty or major administrative penalty due to actions against the laws and rules, NAFMII will suspend or revoke its underwriting qualifications according to Rules on Market Evaluation of NAFMII Members Participating in the Underwriting of Debt Financing Instruments of Non-Financial Enterprises and other self-regulatory rules.