According to the Measures for the Administration of Securities Investor Protection Fund jointly issued by China Securities Regulatory Commission, Ministry of Finance, People's Bank of China and Sichuan Province, China Securities Investor Protection Fund Co., Ltd. (hereinafter referred to as "Protection Fund Company") was incorporated on August 30, 2005. The protection fund company is a wholly state-owned company, which is responsible for raising, managing and using the protection fund, not for profit.