On January 22, 2007, the Fourth Member Conference of the Securities Association of China reviewed and approved the "Measures for the Collection of Membership Dues of the Securities Association of China."

According to the regulations of the Securities Association of China, members of the association must pay membership fees in accordance with the regulations.

Membership fees are divided into entrance fees and annual membership fees.

The specific payment methods are as follows: Article 1 Entrance fee.

Any member unit that joins the Securities Association of China must pay a one-time membership fee when joining the membership according to the membership category.

The membership fee for securities companies, securities investment fund management companies and financial asset management companies is 100,000 yuan each; the membership fee for securities investment consulting institutions is 10,000 yuan each.

Article 2 Annual Membership Fees.

Members shall pay annual membership fees according to the following standards: (1) Annual membership fees for securities enterprise members shall be paid at the rate of one ten thousandth of their registered capital.

If the annual membership fee payable is less than 20,000 yuan, it shall be paid at the rate of 20,000 yuan; if it exceeds 600,000 yuan, it shall be paid at the rate of 600,000 yuan.

(2) The annual membership fee of securities investment fund operation and management enterprises shall be calculated and paid at the rate of 0.3% of the total share of fund units operated and managed by them at the end of the previous year (excluding money market funds).

If the annual membership fee payable is less than 20,000 yuan, it shall be paid at the rate of 20,000 yuan; if it exceeds 600,000 yuan, it shall be paid at the rate of 600,000 yuan.

(3) For members of securities investment consulting institutions with a registered capital of less than 30 million yuan (including 30 million yuan), the annual membership fee is 10,000 yuan per company; for members with a registered capital of 30 million yuan or more, the annual membership fee is 20,000 yuan per company.

Yuan payment.

(4) The annual membership fee for financial asset management enterprise members shall be RMB 100,000 each.

(5) Members are exempt from paying annual membership fees in the year they join.

Article 3 Special members shall pay on a voluntary basis.

Article 4 Time for payment of membership fees: (1) The membership fee shall be paid within 15 days after registration.

(2) Annual membership fees must be paid before June 30 of each year.

Article 5 These regulations will be promulgated and implemented after being reviewed and approved by the fourth general meeting of members.