Announcement  on President Appointment of China Guangfa Bank Co., Ltd.

The Board of Directors and all directors of China Guangfa Bank Co., Ltd. ensure that the contents of this Announcement are free from any misrepresentation, misleading statement and material omission, and that they will assume joint and several liability for the truthfulness, accuracy and integrity of the contents.

On September 29, 2016, China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") held the Sixth Extraordinary Meeting of the Seventh Board of Directors in 2016 and Mr. Liu Jiade was appointed as President of the Bank, with a tenure the same as that of the Seventh Board of Directors.

Mr. Liu Jiade satisfies the post qualification and requirements to serve as President as stipulated by relevant laws and regulations and the Articles of Association of the Bank. Post qualification of Mr. Liu Jiade to serve as President is still subject to approval of China banking regulatory authorities.

It is hereby announced.

Board of Directors, China Guangfa Bank Co., Ltd.

September 29, 2016

Resume of Mr. Liu Jiade

Liu Jiade, born in February 1963, is a senior economist with a bachelor's degree. He now serves as Member of the Communist Party Committee and Vice President of China Life Insurance (Group) Company, Vice Chairman of the Board of Directors (Designate), Director and President (Designate) of China Guangfa Bank Co., Ltd., Chairman of the Board of Directors of China Life Pension Company Limited, Director of China Life Insurance Company Limited, Supervisor of Sinopec Chemical Commercial Holding Company Limited and Member of China Accounting Informationization Committee of the Ministry of Finance and Professional Member of Risk Management Committee of the Insurance Industry.

He was once Deputy Division Chief and Division Chief of Commerce Division of Finance Department of the Ministry of Finance and Deputy County Director (temporary) of Guantao County, Hebei Province successively. From 1998 to 2000, he was Division Chief of Treasury Bond Division of Finance Department of Ministry of Finance. From 2000 to 2003, he was Deputy Director of Finance Department of the Ministry of Finance. From 2003 to March 2014, he was Member of the Communist Party Committee and Vice President of China Life Insurance Company Limited. After 2003, he concurrently served as Director of China Life Asset Management Company Limited, Director of China Life Property & Casualty Insurance Company Limited and Director of China Life Franklin Asset Management Company Limited.