On 10 June 2008, Shanghai Stock Exchange (SSE) and China Securities Depository and Clearing Corporation Limited issued a circular relating to the issuance and registration of corporate bonds.

The circular states that in respect of bonds which are issued upon the approval by the relevant administrative departments of the State Council and registered in securities accounts, issues such as their listing, custody, transactions, settlement, payments and charges should comply with the rules governing corporate bonds which are issued with the approval of the CSRC.

The issuance and registration of bonds which are issued via SSE’s system should be handled pursuant to the rules applicable to corporate bonds. Registration of bonds which are not issued through SSE’s system can be handled according to methods determined by the issuers.

For more information, please refer to the full text of the circular at http://www.sse.com.cn/cs/zhs/xxfw/flgz/temp/temp20080613a.htm