14. (Reporting Process) Within ten working days since the appointment takes into effect, the bank shall submit all the required documents to CBRC Shanghai Bureau. The CBRC Shanghai Bureau is responsible for reviewing the completeness of the reporting materials and enhances intermediary and post-establishment supervision.

IV. Simplifying Approval Process for Institution Relocation inside and outside the PFTZ and Executives Appointment

15. (Institution Relocation) The principle of one-way access, or “permission of entry only”, shall be applied to banking institutions under the branch-level (exclusive) in changing their business locations without name changes. Specifically, such banking institutions based outside the PFTZ shall be allowed to directly relocate into the PFTZ in accordance with provisions specified in Chapter II of these Detailed Rules, and the reporting system shall be applied. The relocation outside from the PFTZ of banking institutions established under the reporting system shall be subject to the relevant CBRC regulations.

16. (Executive Appointment) The principle of one-way access, or “permission of entry only”, shall be applied to banking institutions under the branch-level (exclusive) in transferring their executives to same-level or lower-level positions in the same legal entity. Specifically, executives of such banking institutions based outside the PFTZ shall be allowed to directly transferred to the same-level or lower-level positions in the PFTZ in accordance with provisions specified in Chapter III of these Detailed Rules, and the post reporting system shall be applied. The transfer of executives appointed under the post reporting system in banking institutions based in the PFTZ to the same-level or lower-level positions outside the PFTZ shall be subject to application procedures for qualification assessment in accordance with relevant CBRC administration regulations.

The application procedures for qualification assessment are not needed for qualified executives who have been transferred into the PFTZ, and later reappointed to same-level or lower-level positions in the same legal entity located outside the PFTZ, provided that their executive positions are not interrupted for a continuous period of over a year.

V. Supplementary Provisions

17. (Any Issue Not Mentioned Herein) Relevant regulations shall be applied where these Detailed Rules do not cover.

18. (Subject of Legal Interpretation) CBRC Shanghai Bureau reserves the right to the final interpretation of these Detailed Rules.

19. (Effective Date) These Detailed Rules shall enter into effect as of the date of issue.