Opening a securities account must be handled directly with the Shanghai and Shenzhen branches of China Clearing Company. A. China citizens living abroad

The Detailed Rules for Opening Securities Accounts of Special Corporate Institutions issued by China Clearing Company on February 1 2004 stipulates that special corporate institutions such as securities companies, trust companies, insurance companies, fund companies, social security companies and qualified foreign institutional investors must directly open securities accounts in Shanghai and Shenzhen branches of China Clearing Company.