Guangfa Fund Management Co., Ltd. has absorbed a group of outstanding professionals through open recruitment at home and abroad. The employees of the company have rich experience in securities industry, with an average working life of 4.5 years, of which the average working life of investment managers is over 8 years. Master's degree or above accounted for 48%, with an average age of 365,438 0.8 years, mainly from Tsinghua University, Shanghai University of Finance and Economics, Wuhan University, Sun Yat-sen University, China People's Bank Head Office Financial Research Institute and other universities and institutions. GF Securities, formerly known as the Securities Department of Guangdong Development Bank, was established on September 8 199 1. Founded at the end of 1993, the company was transformed into Guangfa Securities Co., Ltd. on 200 1, and it is one of the first comprehensive securities firms in China. The registered capital of the company is 2 billion yuan, and by the end of 2005, the total assets have reached/kloc-0.09 billion yuan. The company holds four subsidiaries, namely Guangfa Fund Management Co., Ltd., Guangfa Hua Fu Securities Co., Ltd., Guangfa North Securities Brokerage Co., Ltd. and Guangfa Futures Brokerage Co., Ltd., and shares in E Fund Management Company.