No.33

The Regulation on Prohibition of Securities Market has been deliberated and adopted by the Chairman's Office Meeting of China Securities Regulatory Commission on March 7, 2006, and is hereby promulgated, and shall come into force as of July 7, 2006.

Chairman of China Securities Regulatory Commission: Shang Fulin

June 7(th), 2006

Provisions prohibiting entry into the securities market

Article 1 In order to maintain the order of the securities market, protect the legitimate rights and interests of investors and social public interests, and promote the healthy and stable development of the securities market, these Provisions are formulated in accordance with the Securities Law of People's Republic of China (PRC) and other laws and administrative regulations.

Article 2 China Securities Regulatory Commission (hereinafter referred to as "China Securities Regulatory Commission") shall, on the basis of facts, follow the principles of openness, fairness and impartiality, and take measures to prohibit those responsible for violating laws, administrative regulations or relevant provisions of China Securities Regulatory Commission from entering the securities market.

Article 3 If the following persons violate laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, and the circumstances are serious, the China Securities Regulatory Commission may, according to the seriousness of the circumstances, take measures to ban them from entering the securities market:

(1) Issuers, directors, supervisors and senior managers of listed companies, other information disclosure obligors or directors, supervisors and senior managers of other information disclosure obligors;

(2) The issuer, controlling shareholder, actual controller or directors, supervisors and senior managers of the controlling shareholder or actual controller of the listed company;

(3) Directors, supervisors and senior managers of securities companies, heads of their internal business departments, heads of branches or other securities practitioners;

(4) The controlling shareholder or actual controller of the securities company or the directors, supervisors and senior managers of the controlling shareholder or actual controller of the securities company;

(5) Directors, supervisors and senior managers of securities service institutions engaged in securities service business and directors, supervisors and senior managers of actual controllers of securities service institutions;

(6) Directors, supervisors and senior managers of securities investment fund managers and securities investment fund custodians, heads of their internal business departments and branches or other securities investment fund employees;

(seven) other relevant responsible persons identified by the China Securities Regulatory Commission in violation of laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission.

Article 4 Persons who have been banned from the securities market by the China Securities Regulatory Commission shall not continue to engage in securities business in their original institutions, serve as directors, supervisors or senior managers of the original listed companies, engage in securities business in any other institutions or serve as directors, supervisors or senior managers of other listed companies during the ban period.

Persons banned from the securities market shall immediately stop engaging in securities business or perform the duties of directors, supervisors and senior managers of listed companies after receiving the decision made by the China Securities Regulatory Commission, and their banned positions shall be lifted by their institutions according to the prescribed procedures.

Article 5 In case of violation of laws, administrative regulations or relevant provisions of the China Securities Regulatory Commission, if the circumstances are serious, the relevant responsible person may be banned from the securities market for 3 to 5 years; Bad behavior, seriously disrupting the order of the securities market, seriously damaging the interests of investors or playing a major role in major illegal activities, the relevant responsible personnel can be banned from the securities market for 5 to 10 years; Under any of the following circumstances, the relevant responsible personnel may be banned from the securities market for life:

(a) a serious violation of laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, which constitutes a crime;

(two) in violation of laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, the behavior is particularly bad, seriously disrupting the order of the securities market and causing serious social impact, or causing particularly serious damage to the interests of investors;

(3) Organizing, planning, leading or implementing activities that seriously violate laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission;

(four) other violations of laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, the circumstances are particularly serious.

Article 6 In case of violation of laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, if the circumstances are serious, the relevant responsible person may be banned from the securities market alone or given administrative punishment according to law; Suspected of committing a crime, it shall be transferred to the public security organ or the people's procuratorate according to law, and measures may be taken to ban the securities market at the same time.

Article 7 Under any of the following circumstances, the relevant responsible personnel may be given a lighter, mitigated or exempted from taking measures to prohibit entry into the securities market:

(a) take the initiative to eliminate or mitigate the harmful consequences of illegal acts;

(two) to cooperate with the investigation and punishment of illegal acts with meritorious service;

(3) Being instructed or coerced by others to commit an illegal act, and being able to voluntarily confess the illegal act;

(four) other measures that can be lighter, lighter or exempted from the supervision of the securities market.

Article 8 If * * * violates laws, administrative regulations or the relevant provisions of the China Securities Regulatory Commission, it is necessary to take measures to prohibit entry into the securities market. Compared with the personnel who should bear the main responsibility, the personnel who are less responsible may be given a lighter, mitigated or exempted from taking measures to prohibit entry into the securities market.

Article 9 Before the China Securities Regulatory Commission takes measures to prohibit the entry into the securities market, it shall inform the parties of the facts, reasons and basis for taking measures to prohibit the entry into the securities market, and inform them of their right to make statements, defend themselves and request a hearing.

Article 10 If a person who is prohibited from entering the securities market is found guilty or subject to administrative punishment for the same illegal act at the same time, and his conviction or administrative punishment decision is revoked or changed according to law, thus affecting the factual basis, legality and appropriateness of the measures, the measures prohibited from entering the securities market shall be revoked or changed according to law.

Article 11 The China Securities Regulatory Commission will announce the persons who are prohibited from entering the securities market by the China Securities Regulatory Commission to the public through the website of the China Securities Regulatory Commission or the designated media, and record them in the credit files of the persons who are deemed to be prohibited from entering the securities market.

Twelfth China Securities Regulatory Commission in accordance with the law to individuals or units directly responsible for the ban on entering the futures market, you can refer to these provisions.

Thirteenth these Provisions shall come into force as of July 00, 2006. 1on March 3, 997, the China Securities Regulatory Commission promulgated and implemented the Interim Provisions on the Prohibition of Securities Market (No.7 of Zheng Jian Fa [1997]), which shall be abolished at the same time.