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	NOTICE OF THE PEOPLE'S BANK OF CHINA AND THE MINISTRY OF LABOR AND SOCIAL SECURITY ON THE RELEVANT ISSUES CONCERNING ENTERPRISE ANNUITY FUNDS' ENTRY INTO THE NATIONAL INTER-BANK BOND MARKET

	(No.56 [2007] of the People's Bank of China, Ministry of Human Resources and Social Security of the People's Republic of China January 31, 2007)


SUBJECT : FUNDS; ENTERPRISE ANNUITY FUNDS; NATIONAL INTER-BANK BOND MARKET
ISSUING DEPARTMENT : PEOPLE'S BANK OF CHINA, MINISTRY OF LABOR AND SOCIAL SECURITY (INCL. MINISTRY OF LABOR)(DISSOLVED)
ISSUE DATE : 01/31/2007
IMPLEMENT DATE : 01/31/2007
LENGTH : 438 words
TEXT :

For the purpose of widening the investment channels of enterprise annuity funds, promoting the value maintenance and appreciation of enterprise annuity funds, diversifying the types of the investors in the national inter-bank bond market and enhancing the sound development of bond market, in accordance with the Measures for the Administration of Bond Transactions in the National Inter-bank Bond Market, the Trial Measures for the Administration of Enterprise Annuity Funds and other relevant regulations, we hereby notify the relevant issues concerning the enterprise annuity funds' entry into the national inter-bank bond market as follows:

1. An enterprise annuity fund established according to law may enter into the national inter-bank bond market to engage in such businesses as bond investment, etc.

2. An enterprise annuity fund may conduct bond transactions and settlement either by itself or by entrusting a settlement agent.

3. When conducting bond transactions and settlement by an enterprise annuity fund itself, its trustee shall entrust the investment manager and custodian of the enterprise annuity fund to, on behalf of the enterprise annuity fund, apply for handling bond transaction networking formalities and the opening of bond custody accounts to the National Inter-bank Funding Center (hereinafter referred to as Funding Center) and China Government Securities Depository Trust & Clearing Co., Ltd. (hereinafter referred to as Central Clearing Company) respectively. The account name shall be "XXPortfolio of the Enterprise Annuity Plan of the Custodian, XXCompany". When applying, the following materials shall be submitted:

(1) the photocopy of the letter of authorization on the fact that the trustee entrusts the investment manger to handle bond transaction networking formalities.

The photocopy of the letter of authorization on the fact that the trustee entrusts the custodian to apply for the opening of bond custody accounts;

(2) the photocopy of the confirmation letter on enterprise annuity plan (including the registration number) produced by the administrative department of labor and social security;

(3) the photocopies of the qualification certificates for "Enterprise Annuity Fund Management Institution" held by the custodian and the investment manager;

(4) the photocopy of the custody contract concluded by the trustee and the custodian, and that of the investment management contract concluded by the trustee and the investment manager;

(5) the photocopies of the duplicates of the financial business licenses of the custodian and the investment manager, and the photocopies of their duplicates of the business license for enterprises as legal persons.

The investment manager and custodian of the enterprise annuity fund shall be responsible for the authenticity, accuracy and integrity of the materials submitted by them, and the materials shall not have any false record, misleading statement or major omission.