At the 23rd Meeting of the 3rd Board of Directors and the 16th Meeting of the 3rd Board of Supervisors, both held on 21 Aug 2008, the following proposals were examined and approved:

1. the 2008 Semiannual Report and its Abstract
2. management rules for the use of raised funds
3. to launch preparatory and promotion work for the company's private banking business
4. to grant Shanghai State-owned Assets Management Co., Ltd. and its subsidiaries up to RMB 1.2 bln in lines of credit, at an interest rate marked at the prevailing market interest rate
The above-mentioned loans are guaranteed loans without preferential conditions as compared to those of other banks.

5. to write off 31 items in assets, worth RMB 197,846,749, from the provision for bad debts
6. to recognize Shanghai Young Sun Investment Co., Ltd. as a related party of the company

Board of Directors and Board of Supervisors
22 Aug 2008


Source: Shanghai Stock Exchange

Date: 25 Aug 2008

CN01/ZZ/SW/BT/KM