In the assets allocation process, according to provisions to be found in the Trial Measures for Occupational Annuity Fund Management, the investment scope of the occupational annuity fund property is limited to bank deposits, T-bonds and other high-liquidity financial products. This includes short-term bond repurchases, financial bonds and enterprise bonds at the investment-grade or above, convertible bonds, unit-linked insurance products, securities investment funds and stocks. The investment of the annuity fund property calculated on a market price basis is to meet following provisions:

1.The proportion of investment in demand bank deposits, central bank notes short-term bond repurchases and other liquid products and money market funds is not be lower than 20% of the fund¡¯s net assets;

2.The proportion of investment in fixed bank deposits, negotiation deposits, T-bonds, financial bonds, enterprise bonds and other fixed income products, convertible bonds and bond funds is not to be higher than 50% of the fund¡¯s net assets. Additonally the proportion of investment in T-bonds shall not be lower than 20% of the fund¡¯s net assets;

3.The proportion of investment in stocks and other equity products or unit-linked insurance products or stock funds is not to be higher than 30% of the fund¡¯s net assets. Whereas the proportion of investment in stocks shall not be higher than 20% of the fund¡¯s net assets.

4.For the occupational annuity fund property under the management of an individual investment manager, the proportion of investment in a security issued by an enterprise or an individual securities investment fund and calculated on a market price basis, shall neither exceed 5% of the security issued by this enterprise or the share of this fund, nor exceed 10% of the total value of the occupational annuity fund property under its management.

5.The investment manager, for any investment of the occupational annuity fund property under its management in a financial product under its own management, shall obtain the approval of the trustee.

6.The occupational annuity fund shall neither be used for any margin trading nor providing any loan or guarantee to any other person.

7.The investment manager shall never engage in any investment that may subject the occupational annuity fund property to an unlimited liability.