Guangfa Bank approved to establish an asset custody center.

On February 13, the website of the China Banking and Insurance Regulatory Commission issued a reply, approving Guangfa Bank to establish Guangfa Bank Limited Liability Company Asset Custody Center. Guangfa Bank should strictly handle the establishment matters in accordance with relevant laws and regulations, and complete the establishment work within 6 months from the date of approval. The establishment work will be supervised and guided by the Beijing Financial Regulatory Bureau. During the establishment period, no financial business activities are allowed. After the establishment work is completed, an application for opening should be submitted to the Beijing Financial Regulatory Bureau in accordance with relevant regulations and procedures.