Annex 3:

Detailed Rules on the Simplification of the Access of Banking Institutions and their Executives to the China (Shanghai) Pilot Free Trade Zone 
(Interim)

I. General Provisions

1. (Basis of Policy Formulation) These Detailed Rules are put into trial use in accordance with the Notice of the China Banking Regulatory Commission on Issues concerning Banking Supervision in China (Shanghai) Pilot Free Trade Zone and relevant banking regulations, after being reported to and approved by CBRC.

2. (Overall Objectives) The overall objectives of these Rules are to deepen the reform of the administrative examination and approval system, accelerate the transformation of banking regulating functions and innovation of regulating modes; improve intermediary and post-establishment supervision levels according to the principle of providing special access to national privileges and requirements for internationalization and legalization; and further clarify the management responsibility of banking authorities while simplifying administrative procedures, and accumulate supervision experience that can be reproduced and promoted.

3. (Application Scope) In an attempt to simplify the access control for institutions and their executives to the China (Shanghai) Pilot Free Trade Zone (the “PFTZ”), the CBRC Shanghai Bureau shall, in accordance with these Detailed Rules and relevant regulations, supervise and manage the implementation of these Detailed Rules among players in the banking industry while guiding and supervising the Shanghai Banking Association’s fulfillment of obligation to be self-disciplined and ready to serve. The CBRC Shanghai Bureau shall also release the general information of the institutions in the PFTZ and provide update on specific information including site selection preference of the institutions in the PFTZ.

4. (Legal Responsibility) The banks shall ensure the authenticity, completeness and accuracy of the submitted materials prepared as instructed in these Detailed Rules and ensure the compliance and eligibility of the corresponding institutions and their executives.

Where any non-compliance or imprudent conducts such as making false statement or concealing information in the reporting are detected by the regulatory authorities, the reporting institution and its officer concerned shall be held responsible, be imposed on administrative penalty as stipulated by law, and be subject to coercive measures including termination of branch establishment, or replacement of its board directors or executives or limitation of their rights.

5. (Annual Branch Network Arrangement) The prior approval is not needed for the annual plans of Chinese-funded national commercial banks, policy banks and Shanghai-based banks on establishing new branches or upgrading the existing ones in the PFTZ, and such actions will not be subject to the overall annual plans of the above banks for their branch network in Shanghai.