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 November 6, 2019, China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") held the Twelfth Meeting of the Eighth Board of Directors. After nomination by President Yin Zhaojun, Mr. Luo Yubing was appointed as Vice President of the Bank, with a tenure the same as that of the Eighth Board of Directors.

The independence opinions expressed by the Independent Directors of the Bank with respect to above employment of vice president are as follows: the decision-making procedures to employ Mr. Luo Yubing as the Vice President of the Bank is in compliance with the relevant laws and regulations and the relevant requirements of the Articles of Association, the qualification of nominee accords with the relevant requirements of China Banking and Insurance Regulatory Commission (CBIRC) and all the Independent Directors of the Bank agree this approval.  

Mr. Luo Yubing satisfies the post qualification and requirements to serve as Vice President as stipulated by relevant laws and regulations and the Articles of Association of the Bank. Post qualification of Mr. Luo Yubing to serve as Vice President is still subject to approval of CBIRC.

It is hereby announced.

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

November 6, 2019

Resume of Mr. Luo Yubing

Mr. Luo Yubing, Male, Han Nationality, a member of the Communist Party of China, born in August 1969, holds a Ph.D. in Finance and is an Economist.

Mr. Luo now serves as Vice President (qualification to be approved), Deputy Secretary of the CPC Committee of the Bank.

Mr. Luo jointed the People¡¯s Bank of China (hereinafter referred to as the "PBOC") in August 1991, and consecutively served as the vice director of General Executive Office, the vice president of Wuhan Branch, the president of Lanzhou Central Sub-branch and the director of Gansu Branch of State Administration of Foreign Exchange concurrently, the director of Anti-money Laundering Center and the director of Credit Reference Center of PBOC from 2006.