The newly revised Measures for the Administration of Enterprise Annuity Funds have been reviewed and adopted at the 58th ministerial meeting of China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission held in Ministry of Human Resources and Social Security on October 20th11. It is hereby promulgated and shall come into force as of May, 2011. On February 23, 2004, the Trial Measures for the Management of Enterprise Annuity Fund (Order No.23 of the Ministry of Labor and Social Security) issued by the Ministry of Labor and Social Security, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission was abolished at the same time.

2. Trial Measures for Enterprise Annuity

The Trial Measures for Enterprise Annuities have been adopted at the 7th ministerial meeting of the Ministry of Labor and Social Security on February 30, 2003, and are hereby promulgated and shall come into force as of May 30, 2004. The establishment of a multi-level pension insurance system, to better protect the life of enterprise employees after retirement, improve the social security system, according to the labor law and the relevant provisions of the State Council, the enactment of this approach.

The term "enterprise annuity" as mentioned in these Measures refers to the supplementary endowment insurance system voluntarily established by enterprises and their employees on the basis of participating in the basic endowment insurance according to law. The establishment of enterprise annuity shall be implemented in accordance with the provisions of these measures.