In the past several months, NAFMII has successively launched the market-based evaluation of foreign bank members participating in Type A lead underwriting business of non-financial enterprise debt financing instruments, bank members participating in underwriting business of non-financial enterprise debt financing instruments. Foreign bank and bank members of NAFMII who interested in participating may submit their materials for review within the set period.

NAFMII Secretariat organized representatives from CEFTS, CCDC, Shanghai Clearing House, Beijing Financial Asset Exchange, Bond Market Professional Committee of NAFMII as well as representatives from lead underwriters, investors, and issuers to conduct market-based evaluations of received materials and jointly form the evaluation results. The two market-based evaluation results have been reviewed and passed by 13rd Meeting of NAFMII Fifth Standing Board of Governors and then pre-filed with PBC. NAFMII now announces as follows:

1. Deutsche Bank (China) Co., Ltd. and BNP Paribas (China) Co., Ltd. can engage in Type A lead underwriting business of non-financial enterprise debt financing instruments.

2. Mitsubishi UFJ (China) Co., Ltd. and Mizuho Bank (China) Co., Ltd. can engage in underwriting business of non-financial enterprise debt financing instruments.

3. Type A lead underwriting members and underwriter members shall respectively, in accordance with NAFMII self-regulatory rules, establish lead underwriting, underwriting business department, staff lead underwriting and underwriting department with full-time personnel, establish and improve the operating procedures, risk management system and internal control system of lead underwriting and underwriting business, and standardize lead underwriting and underwriting business of non-financial enterprises debt financing instruments.

4. If a Type A lead underwriter member or underwriter member is subject to criminal penalties or material administrative penalties for violations of laws and regulations, NAFMII will suspend or annul its lead underwriting, underwriting business qualifications according to its self-disciplinary rules.

National Association of Financial Market Institutional Investors