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On the afternoon of Feb.19, Mr.Shao Yaliang, President of SIG, had business discussion with the visiting delegation led by Mr.Jin Yu, President of Bank of Shanghai.

While extending his welcome to President Jin Yu, Shao Yaliang updated the guests on the asset operation and business layout of SIG. He added that as the state-owned financial vehicle of Shanghai Municipal government, SIG would conscientiously implement the strategic decisions made by CPC Shanghai Municipal Committee and the Municipal Government, be fully committed to serving the overall situation of the reform in Shanghai’s state-owned assets and enterprises and proactively take part in developing Shanghai into an international financial center. As Bank of Shanghai enjoys solid local strength, he expects to see more cooperation between two parties in coming days.

President Jin Yu appreciated the introduction by President Shao and then gave a briefing on business operation of the Bank and roadmap for the future. He claimed that Bank of Shanghai had been developing on a sound track while proactively preparing for the IPO. Bank of Shanghai had already been involved in the extensive and in-depth cooperation with members of SIG, namely Guotai Junan Securities, Shanghai International Trust and Shanghai Re- Guarantee, hopefully the two parties could further strengthen the cooperation in various respects.

During the meeting both parties exchanged insights on the development of domestic financial vehicle companies and IPO of local commercial banks.

Mr.Jiang Hong,Vice President of Bank of Shanghai and department heads of the Bank joined the meeting. The heads from Financial Management Department, Financial Management Department and Administration Department were also present.