2012.4.15

Agenda

() 1990 () ()200912

()

20022002QFII2007QFIIQFII20062006520066200720072520074200782008

2009720102010620()20107201012201115 (7,600)0.95%2011720118201110RFDI(RMB Foreign Direct Investment)2011114,000201112RQFII(RMB Qualified Foreign Institutional Investors )

()

()

~19131914~19301930~19441945~19601961~1975

1976~199819901999~20052006~

()

()1.4419447

2.1) 2) 3)4)

3.

4. 1)2)3) 4) 5)

()1. 1954-1)2)3)1989227%4)1979

1985~19971)2)3)19851984237.55199594.073)19956.78%2.12%

19971)2)3)4)20083.23%

2.

196441978.419791980.121984-19851.2.3.

2080

1997.12211998.12199941999.42151.2.3.4.5.2000RTGSDVP()

()

()1. 2. 3.4.

OBUOBUOBU201213162OBU383466.01OBUOBU1195.2820116()191.81552008630201231185.74204.30

318200983184511,246DBU

OBU

1012OBU39.5%/61.7%

OBU

OBU 2608.45

1012OBU264.74

2OBU340.69314.46 OBU 2329.44198.35

5/9

DBU

OBUDBU

*: (, Dim Sum Bond): (RQFII) ((87001.HK)): : : ETF(ETF(83168.HK)2012214 )

* -200768, -()1 -, , -60

, 30, 200762776, 50, 3%2200781020, 20, 10, 2, 3.05%; 10, 32009, ()()20109850

201022010.72010.8Emirates NBD PJSCLotte ShoppingAmerica Movil (Lanxess AG (Tesco20112143

20103601620201175002250

*: ()(McDonalds, Hopewell, Volkswagen): , : , :

* (2012.3.18, )

-/

*

2010.10.19 2010.12.29 - 2011.1.3 HSBC Investment Funds (Hong Kong) Limited 2012.1.4 () 2011.4.13 2012.2.14 2012.3.20

BlackRock Renminbi Bond FundPowerShares Chinese Yuan Dim Sum Bond Portfolio ETFMarket Vectors Renminbi Bond (Global ETF, issued by Van Eck Global, tracking Market Vectors Renminbi Bond Index )Guggenheim Yuan Bond ETF (NYSE: RMB, tracking AlphaShares China Yuan Bond Index )

2011721(Manulife Asset Management (Taiwan) Co., Ltd) (Manulife China Dim Sum USD High Yield Bond Fund)IPO1.340Asia Asset Management 2011

*RQFII (20111213)RMB Qualified Foreign Institutional Investor, RQFII)20111220121RQFIIRQFIIRQFII: , ,

20111221RQFII20111221RQFII200201112302012119RQFIIRQFII80%20%19RQFII12115RQFII: 500RQFIIAETF

*

RQFII/ 11 80%, 20% 11 80%, A20% 11 80%, 20% ()11 80%, 20%() ()11 80%, 20% ()11 80%, 20% ()12 80%, 20% ()1120%-30%, 30%-40%, 10%-20%, 0-10%, 0-10%()11 80%, 20%, /10%

*

RQFII () 9 80%, 20% () ()9 80%, 20% ()9 80%, 20% () 9 80%, 20% ()9 80%, 20% ()()9 80%, 20% ()9 80%, 20% ()9 80%, 20% ()()9 80%, 20% () 9/()()5/()5/

*RQFII , RQFII Holder , : (): (1) ; (2); (3)Participation Agreement, RQFII, ; (4), ; (5)

*RQFII(76, 20111216) ([2011]37, 20111216)([2011]50, 20111220) ([2011]321, 201214)(2012215)

*RQFIIStep 5

FDI

************************