Chapter I. General Provisions

Article 1. In accordance with the Measures for the Administration of Financial Bond Issuance in the National Interbank Bond Market (Order of the People’s Bank of China [2005] No. 1), the Rules for Information Disclosure of Asset-Backed Securities (Announcement of the People’s Bank of China [2005] No. 14), the Announcement on Issues Concerning Admission of Corporate Bonds to the Interbank Bond Market for Trading and Circulation (Announcement of the People’s Bank of China [2005] No. 30), the Measures for the Administration of Interbank Lending (Order of the People’s Bank of China [2007] No. 3), the Measures for the Administration of Non-Financial Enterprise Debt Financing Instruments in the Interbank Bond Market (Order of the People’s Bank of China [2008] No. 1) and the provisions of other relevant documents of the People’s Bank of China (hereinafter referred to as PBC), these Measures have been formulated by the China Foreign Exchange Trade System & National Interbank Funding Center (CFETS) for the purpose of enabling designated information disclosers in the interbank market to meet their responsibilities, regulating conducts relating to the disclosure of information, and ensuring information disclosure work is carried out in an orderly manner.

Article 2. All types of institutions that participate in the interbank market shall disclose information in compliance with State laws and regulations and in light of the requirements set out in relevant documents of the PBC and CFETS.

Article 3. The information disclosure website designated by CFETS is the Chinamoney website (www.chinamoney.com.cn).

Article 4. These Measures apply to all types of institutions that make disclosures and search for information on the interbank market through www.chinamoney.com.cn .

Chapter II. Submission of Information

Article 5. Information disclosure institutions shall designate specific personnel to be responsible for information disclosure affairs. Issuers of financial bonds, asset-backed securities trust institutions, and lead underwriters of debt financing instruments issued by non-financial enterprises shall, within five working days before bonds are issued and within 30 days after non-bank financial institution members enter the lending market, submit a list of the names and contact details of personnel responsible for information disclosure affairs to the CFETS for record filing. Any change to the personnel responsible for information disclosure affairs shall be reported to the CFETS for record filing within 5 working days.

Article 6. When submitting issuance documents to the CFETS, bond issuers or asset-backed securities trust institutions shall submit photocopies or electronically scanned copies of reply documents on issuance or registration documents issued by relevant competent departments.

Article 7. Information disclosure documents of non-financial enterprise debt financing instrument issuers shall be submitted to the CFETS by the lead underwriter appointed by the issuer. The lead underwriter shall supervise and urge the issuer to disclose information promptly within the time limits stipulated in relevant documents and submit information disclosure documents to the CFETS after examining their form and content.

Article 8. Information disclosure documents shall be submitted to the CFETS in the form of electronic documents. Information disclosure documents shall satisfy the following formatting requirements: 

(1) Information disclosure documents shall be non-modifiable electronic documents, i.e., PDF documents prepared using Acrobat software.

(2) Documents shall be clearly formatted without any modifications, and scanned PDF documents shall be legible and free of imperfections.

(3) The file names of electronic documents such as issuance documents, trading and circulation announcements, and announcements on significant matters shall be the full titles of such documents; the file names of electronic documents including financial reports shall include the full name of the issuer and indicate the year in which the report is made.

(4) Financial reports made within the same reporting period shall be included in a single document. Unaudited financial reports shall be stamped with the official seal of the submitting unit; audit reports within audited financial reports shall be stamped with the seal of a Certified Public Accountant from the relevant accounting firm and the financial reports shall be stamped with the official seal of the submitting unit; audited financial reports shall be scanned once and converted into a single PDF document.

(5) The notes to the balance sheet, income statement, cash flow statement, and accounting statement shall indicate the completing unit, the reporting period, and the bookkeeping currency and monetary unit used.

(6) The letter font used in financial reports shall be “Song typeface” and the number font shall be “Times New Roman”; the titles of documents shall be in font size “four” and bold; the text of documents shall be in font size “five”; no background image shall be set for such documents; the font color shall be “black”; table borders shall be “0.5 pound, linear type, and black”; titles and tables shall be positioned in the middle of the page.

(7) For convenience when transmitting and browsing documents, information disclosure institutions shall attempt to limit PDF documents to a maximum size of 10M.

If documents do not conform to the abovementioned requirements, the CFETS shall have the right to require that the information disclosure institution make a new submission; the information disclosure institution shall be responsible for any time delay in information disclosure caused thereby.

Article 9. Electronic copies of information disclosure documents shall be sent to the mail box designated by the CFETS by means of e-mail, and personnel who submit information shall promptly confirm the submission of information disclosure documents with the CFETS by telephone. The designated contact details for the CFETS are as follows:

(1) For filing information on contact persons and contact details for information disclosure affairs, contact telephone: 021-50791761 (credit standing of members) or 50791857 (bond issuance).

(2) Bond issuance documents, issuance information announcements, interest payment announcements, encashment announcements, follow-up credit rating reports during the whole life of an instrument, announcements on significant matters and other information disclosure documents shall be sent to the following mail boxes:

For non-financial enterprise debt financing instruments: rongzq@chinamoney.com.cn;

For asset-backed securities: zchq@chinamoney.com.cn;

For corporate bonds: gsz@chinamoney.com.cn;

For financial bonds, subordinated bonds and other bonds: zhaiq@chinamoney.com.cn.

Contact telephone: 021-50791857 or 68797715, Fax number: 021-68790219.

(3) Market members’ financial reports disclosed as designated by the People’s Bank of China, regular disclosure documents on financial reports during the term of a bond, and market entry materials of institutions newly admitted to the market shall be sent to the following mail box: xinxi@chinamoney.com.cn, contact telephone: 021-50791761 or 50791857.

(4) If a document is too large, being in excess of 20M, and cannot be accepted by the CFETS’s mail box, the reporting document shall be burned onto a disk and the disk mailed to the CEFTS at the following address: Building 30, No. 1387 Zhangdong Road, Pudong New Area, Shanghai, Information & Statistics Department of CFETS, postcode: 201203.

Chapter III. Information Disclosure

Article 10. The CFETS shall formally examine information disclosure documents in light of Article 8 hereof and release the information disclosure documents it examines through www.chinamoney.com.cn; the CFETS provides no guarantee regarding the truthfulness, accuracy and completeness of information disclosed by users. All information disclosure consequences and responsibilities shall be borne by the user itself.

Article 11. With respect to the regular centralization of disclosed information, the CFETS shall complete the disclosure of information disclosure documents on www.chinamoney.com.cn within 3 working days of the end of the time limit stipulated in relevant documents of the People’s Bank of China; the CFETS shall make a public announcement on the information disclosed to the market through www.chinamoney.com.cn within 5 working days.

Article 12. The CFETS shall make a public announcement to the market on any institution that fails to disclose information through www.chinamoney.com.cn in accordance with applicable provisions and shall promptly report the same to the People’s Bank of China in light of relevant provisions.

Article 13. Information disclosure documents shall not be altered once they have been put online. Where an information disclosure institution needs to change the contents of any such document, it shall attach an update note and, after stamping the same with its official seal, submit it to the CFETS together with the altered materials. The CFETS shall release the update note and alter the materials online.

Chapter IV. Use of Information

Article 14. The www.chinamoney.com.cn gives registered users different levels of permission to browse information. Registered users are users that are first required to obtain a username and password set by www.chinamoney.com.cn and may accept information services available to specified users only after logging on. Registered users of www.chinamoney.com.cn must be market members of the CFETS, regulatory institutions, or relevant business institutions; registration is not available to relevant institutions in the non-interbank market, media organizations, or individuals for the time being.

Article 15. Users shall abide by the following requirements when browsing information:

(1) Users can use services on www.chinamoney.com.cn and the contents, data or information involved in such services for legitimate purposes only.

(2) Information services accepted by users after logging on to www.chinamoney.com.cn are available to specified users only; users shall not disseminate the information they obtain to other institutions or individuals for any purpose or by any means.

(3) Users shall properly maintain their username and password details and shall not provide their username or password to any other institution or individual for their use.

Article 16. Any user who finds that its username and password have been illegally used by a third party shall immediately inform the CEFTS. The CEFTS shall not assume responsibility for any direct or indirect loss caused to the user itself or to other institutions as a result of the illegal use of its username and password arising from the actions of the user or a third party.

Article 17. Where a user breaches any of the provisions stipulated herein, the CFETS shall have the right to require the user to take remedial action or to take all necessary measures (including, but not limited to, suspending or terminating its user qualifications and reporting the matter to the People’s Bank of China) to minimize the influence caused by the user’s improper conduct, and reserves the right to hold the user legally liable for such conduct.

Article 18. Under no circumstances shall the CFETS assume responsibility for any damage caused due to the use of or failure to use information disclosed on www.chinamoney.com.cn.

Chapter V. Supplementary Provisions

Article 19. The CFETS shall be responsible for the interpretation and revision of these Measures.

Article 20. These Measures shall come into effect as of the date of promulgation.

October 24, 2008