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Fund management of Guotai Junan Securities Co., Ltd.

Guolianan Fund Management Co., Ltd. was established in April 2003 with a registered capital of 150 million yuan and its registered place in Shanghai, China. It is the first Sino-foreign joint venture fund management company approved to be established in China. It was jointly established by Guotai Junan Securities Co., Ltd. and Allianz AG of Germany.