Announcement on Vice 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 December 29, 2017, China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") held the fifth Extraordinary Meeting of the Eighth Board of Directors in 2017. Ms. Xu Hongxia was appointed as Vice President of the Bank, with a tenure the same as that of the Eighth Board of Directors.

Recently, China Banking and Insurance Regulatory Commission has approved the Post Qualification of Vice President Xu Hongxia of the Bank (YinBaoJian Fu [2018] No.163) . In accordance with relevant provisions, Ms. Xu Hongxia serves as Vice President of the Bank from August 22, 2018.

It is hereby announced.

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

August 23, 2018

Resume of Ms. Xu Hongxia

Xu Hongxia, born in May 1962, holds a Master’s degree in Economics.

Ms. Xu is Vice President and a Member of the CPC Committee of the Bank, Secretary of the CPC Committee and President of Beijing Branch of the Bank. She is also a delegate of the Eleventh Congress of CPC Committee of Tianjin, a member of the Thirteenth Tianjin Committee of CPPCC (Economics Division).

She served successively as cadre of Western Suburbs Office, Industrial and Commercial Credit Division and the Department of Foreign Affairs of Tianjin Branch of the Agriculture Bank of China (ABC); Clerk, Deputy Chief, Chief, Assistant General Manager, Deputy General Manager and General Manager of International Business Department; President of the Bonded Area Sub-Branch; Member of the CPC Committee, Vice President and Deputy Secretary of the CPC Committee of Tianjin Branch of the ABC; General Manager of the Business Department of the ABC; Deputy Secretary of the CPC Committee and Vice President (Executive) of Tianjin Branch of the ABC; Secretary of the CPC Committee and President of Tianjin Branch of the ABC.