Unofficial English Translation *

China Banking Regulatory Commission Order[2011] No. 1

The Resolution of the China Banking Regulatory Commission Amending the Interim Measureson the Administration of Derivatives Businessof Financial Institutions,being adopted at the 101stChairman’s Meeting of the China Banking Regulatory Commission, is hereby promulgated and shall come into force as of the date of its promulgation.

Chairman: LIU Mingkang

5 January 2011

RESOLUTION OF THE CHINA BANKING REGULATORY COMMISSION

AMENDING THE INTERIM MEASURES ON THE ADMINISTRATION OF DERIVATIVES

BUSINESS OF FINANCIAL INSTITUTIONS

The China Banking Regulatory Commission adopts the resolution to amend the Interim Measures on the Administration of Derivatives Business of Financial Institutions as follows:

[Amendments 1 to 36 are omitted in this unofficial English translation.]

The Interim Measures on the Administration of Derivatives Business of Banking Financial Institutions,as amended pursuant to this resolution and with sequence of the provisions re-arranged, are hereby re-promulgated.

INTERIM MEASURESON THE ADMINISTRATION OF

DERIVATIVES BUSINESS OF BANKING FINANCIAL INSTITUTIONS

Chapter One

Article 1General ProvisionsThese Measures have been formulated according to the PRC Banking

Regulation and Supervision Law, the PRC Commercial Banking Law and

other relevant laws and regulations in order to regulate the administration

of banking financial institutions’ derivatives businessand effectively control

the risks involved in the conduct of derivatives businessby banking

financial institutions.

For the purpose of these Measures, a “banking financial institution” means

anyduly established commercial bank, urban credit co-operative, rural

credit co-operative and other financial institutions engaged in taking Article 2