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On May 11th, 2012, SPDB-Financial Leasing Co., Ltd. (or “SPDB-Financial Leasing”) held a simple but solemn opening ceremony at Radisson Plaza Xing Guo Hotel Shanghai. Attendees of the ceremony included member of the Municipal Committee and Vice Mayor of Shanghai, Tu Guangshao, leadership of the People’s Bank of China, China Banking Regulatory Commission, Shanghai Office of Ministry of Finance, East China Administration of Civil Aviation of China and China Commercial Aircraft Co., Ltd. (or “CCAC”),as well as Shanghai International Group (or “SIG”) chairman Ji Xiaohui, president Shao Yaliang and assistant to the president Zhu Zhongqun.

Member of the Municipal Committee and Vice Mayor of Shanghai, Tu Guangshao pointed out at the ceremony that financial leasing companies are one category of financial institutions that are strongly supported and of great help to enhance the market function in the progress of the construction of an international financial center in Shanghai. As the third major financing channel in addition to bank loan and capital market financing, the financial leasing industry , will promote the development of real economy and the adjustment and optimization of industry layout of Shanghai. Currently, as Shanghai entered a critical stage in the construction of an international financial center, the founding of SPDB-Financial Leasing is meaningful not only because it is a Win-Win cooperation between financial and real industry, but also a specific demonstration of the rapid growth Shanghai has achieved as an international financial center and international shipping center. The founding of the SPDB-Financial Leasing is an important milestone of the application of the scientific outlook on development by Shanghai Pudong Development Bank (or “SPDB”), China Commercial Aircraft and SIG, and a practical action in promoting the construction of Shanghai as an international financial center.

SIG Chairman Ji Xiaohui addressed at the ceremony that the founding of SPDB-Financial Leasing would not only promote strategic and operational synergyamong enterprises SIG has invested in, including banks, insurance companies, security companies, trust funds and leasing companies,but alsopromote the establishmentof the innovative mechanism of integrated operation between SIG and SPDB, as well as enhance the ability of cross-market and cross-area financial services of those two, in order to further upgrade the efficiency in the utilization of financial assets and the integrated and differentiated competitive edge; and to enhance the competitiveness of those two companies in the financial market and the capacity to serve the real economy. As a strategical controlling financial investment group, SIG will fully utilize its cross-area financial innovation advantages in order to strongly support the cooperation among SPDB-Financial Leasing and others under SIG, helping to provide exceptional premises for the company to explore its way in financial leasing functions and innovative models of optimized combination of industrial and financial areas.

SPDB-Financial Leasing, a national-wide non-bank financial institution, is set up by Shanghai Pudong Development Bank, China Commercial Aircraft and Shanghai International Group jointly, with registered capital of RMB 2.7 billion. The capital contribution and respective percentages of shares are: SPDB, RMB 1.8 billion, 66.67%; CCAC, RMB 0.6 billion, 22.22%; and SIG, RMB 0.3 billion, 11.11%.