(Released on June 24, 2008, the China Securities Regulatory Commission, the 55th since as of December 1, 2008), first, second, fourth, 19th, 20th, 21st, 22nd, 23rd, 24th, 25th and 41st in the "risk" is amended as "risk capital".
    Second, second, fifth, seventh, eighth, 27th, 28th, 30th, 33rd and 34th in the "net capital computation table" add "risk capital calculation sheet".
    Third, the article should read: "China Securities Regulatory Committee (hereinafter referred to as the China Securities Regulatory Commission), according to the market development and the principle of prudent supervision, calculation of net capital standards, risk capital calculation, the calculation of the scale diameter adjustment before adjusting, should publicly seek the advice industry, and transitional arrangements for the adjustment of the implementation. Does not provide risk-adjusted proportion or risk capital calculation ratio of new products, new business, securities investments before the products or carry out the business of the company, shall, in accordance with the provisions prior to the China Securities Regulatory Commission, the company registration agency of the China Securities Regulatory Commission (hereinafter Agency) report or approval.
    China's securities and Futures Commission under the securities company features new products, new business and risk profile, based on consultation with the industry to determine appropriate risk-adjusted ratios and risk capital to work ".
    Add a paragraph to section four, in the sixth, as the third paragraph: "the Corporation shall establish a sound mechanism for stress testing, according to market changes in a timely manner on the company's risk control indicators for pressure test."
    Five, the Nineth article modified as follows: "net capital is calculated as: net capital = risk-adjusted net assets-financial assets other assets-risk-adjusted-contingent liability risk-adjusted-/+ to the CSRC identified or approved by the other adjustment items".
    Six, the 11th article is changed to: "the security companies when calculating net capital shall be in accordance with the provisions of the relevant project full provision for impairment of assets".
    Section seven, will be the 12th amended as: "security companies when calculating net capital and similar financial assets should be accounted for in the different subjects together, risk-adjusted in accordance with unified financial assets property". Section eight, the 13th is amended as: "the financial assets of a securities company, in accordance with the classification of financial assets and liquidity risks in different ratio adjustment.
    The classification of financial assets at the same time meet the standards of two or more, should be carried out with the highest proportion of risk adjustment.
    For securities companies break the rules disproportionately large holdings of financial assets, the China Securities Regulatory Commission and its agencies can ask the securities company in calculating net capital improved risk-adjusted proportion ". 15th nine, be modified to: "aging of receivables in accordance with the length and different proportions can be taken back to risk-adjusted, age should be counted from a business point. Both the classification of receivables in line with two or more standards, should be carried out with the highest proportion of risk adjustment.
    There is evidence to show that it is difficult to recover the deposit paid projects as well as supplying funds and buying back the overdue items such as the sale of financial assets should be incorporated into the item for receivables and receivables deduction principle of risk adjustment. " Ten, at the 17th before adding a section: "securities firms to holdings of securities issued by a subsidiary undertaking commitments to provide security, according to a certain proportion of the guarantee commitments amount should be reduced net capital.
    Engaging in securities underwriting and sponsorship, securities and asset management businesses, such as the China Securities Regulatory Commission approved the guarantee commitments provided by subsidiaries of the parent company can be in a certain proportion into account net capital ".
    XI by deleting the 19th paragraph (e).
    Adding the article after article 12, in the 19th: "securities companies shall in accordance with the provisions of the CSRC standard securities companies risk capital calculation of risk capital. Securities company business securities brokers business of, should according to managed of customer trading settlement funds total calculation brokers business risk capital prepared; business securities proprietary, and securities underwriting, and securities assets management, and financing thaw coupons business of, should according to about business scale calculation the business risk capital prepared; established branch, and securities sales, branch institutions of, should calculation branch institutions risk capital prepared; should according to Shang a years business costs total calculation operating risk capital prepared.
    Securities companies should also be in accordance with the provisions of the CSRC's other projects and corresponding risk capital ratio. "
    13, by deleting article 20th.
    14, will be the 21st paragraph (a) is amended as: "proprietary equity securities and securities derivatives shall not exceed the amount of total net capital of $ 100%".
    XV article 21st, (ii) is amended as: "proprietary fixed-income securities shall not exceed the amount of total net capital of $ 500%".
    16, will be the 21st paragraph (c) is amended as: "holding a net equity securities shall not exceed the cost of capital of 30%".
    17, will be the 21st paragraph (d) is revised as follows: "have a market value of equity securities with a total value of not more than 5%, but situations due to underwriting, and except as otherwise provided by the China Securities Regulatory Commission."
    18 article by deleting the 21st, (v).
    19, will be the 21st article is revised as follows: "when calculating the proprietary scale, category of securities companies should be based on principal investments at cost and fair value is higher the principle."
    20, by deleting the 21st paragraph.
    Section 21, by deleting the 22nd and 23rd.
    22 article by deleting the 24th, (d) and (e).
    23, by deleting the article 25th.
    24, in the 26th before adding a section: "the securities company in light of its own actual situation, not below the standards prescribed by the China Securities Regulatory Commission on the basis, determine the appropriate indicators of risk control standards."
    25, will be the 29th article is revised as follows: "the securities firm shall within 7 working days from the date of the end of each month, to the China Securities Regulatory Commission and its agencies submit monthly net capital computation, risk capital calculation and risk control indicators monitoring reports".
    26, will be the 35th paragraph (b) is amended as: "requires companies to take measures to adjust the scale of business and asset-liability structure, raise the level of net capital". 27, and will 35th article subsection (four) items modified for: "requirements company collection rules sector increased on risk control index of check frequency, and submitted about risk control index level of report" 28, and will 41st article subsection (a) items modified for: "risk capital prepared: securities company carried out the business, and established branch institutions, exists may led to net capital loss of risk, should by must standard calculation risk capital prepared and and net capital established corresponds to relationship, ensure the risk capital prepared has corresponds to of net capital support
    ”。
    29, will be the 41st paragraph (c) is amended as: "debt: external debt, free agents trading in securities".
    30, will be the 41st paragraph (d) is revised as follows: "asset: refers to private assets, excluding client assets."
    31, will be the 41st paragraph (f) is amended as: "equity securities: stocks and mainly in shares as investment securities and financial products, including shares, equity funds and other securities provided by the CSRC."
    32, the 41st paragraph (VII), amended to read: "deposit paid: a securities company business deposit or pay security deposit amount".
    In article 33, in the 41st added: "fixed income securities: bonds and mainly in bonds as investment securities and financial products, including bonds, bond funds and other securities provided by the CSRC."
    This decision shall take effect on December 1, 2008.

    The securities company's risk control management measures of indicators in accordance with this decision be modified accordingly, republished. Attached: securities company risk control index management approach (2008 amendment this) (on July 5, 2006 China Securities supervision Management Committee 185th times President Office Conference considered through, according to on June 24, 2008 China Securities supervision Management Committee on modified straddling securities company risk control index management approach of decided Amendment) first chapter General first article to established to net capital for core of risk control index system, strengthening securities company risk regulatory, urged securities company strengthening internal control
    And preventing risks, according to the securities law and other relevant laws, administrative regulations, these measures are formulated.
    Second securities firm shall be calculated in accordance with the regulations of net capital and risk capital, net capital computation, risk capital calculation and risk control indicators monitoring reports.
    Article III of the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission), according to the market development and the principle of prudent supervision, calculation of net capital standards, risk capital calculation, the calculation of the scale diameter adjustment before adjusting, should publicly seek the advice industry, and transitional arrangements for the adjustment of the implementation. Does not provide risk-adjusted proportion or risk capital calculation ratio of new products, new business, securities investments before the products or carry out the business of the company, shall, in accordance with the provisions prior to the China Securities Regulatory Commission, the company registration agency of the China Securities Regulatory Commission (hereinafter Agency) report or approval.
    China's securities and Futures Commission under the securities company features new products, new business and risk profile, based on consultation with the industry to determine appropriate risk-adjusted ratios and risk capital to work.
    The fourth China Securities Regulatory Commission in accordance with the classification principles, under the standard of corporate governance, internal control and risk management, risk control indicators for different types of company standards and calculation of risk capital to a business to make proper adjustments.
    Fifth China Securities Regulatory Commission and its agencies should be on securities firms net capital risk control indicator data generation process and result for the authenticity, accuracy and completeness or to be checked on a regular basis.
    The China Securities Regulatory Commission and its agencies under the regulatory needs, require securities firms to employ qualified accounting firm with securities related business on monthly net capital computation, prepare calculation and risk control of venture capital index regulatory statements audited.
    The sixth securities firm shall, according to their balance sheets and business development, establish a dynamic monitoring and risk control indicators complement the mechanism to ensure that net capital and other risk control indicator at any point up to the required standard.
    Securities companies should be carried out in various business and profits before risk control indicators are sensitivity analysis, rationally determine business and distributing the largest.
    Securities companies shall establish a sound mechanism for stress testing, according to market changes in a timely manner to pressure the company's risk control tests.
    Seventh securities companies securities related qualification should be employed with a firm of Accountants for its annual net capital computation, prepare calculation and risk control of venture capital index regulatory statements audited.
    Eighth accounting firms and CPAs should be conscientious, net capital computation of securities companies, risk capital calculation tables and indicators of risk control supervision of auditing the authenticity, accuracy and completeness of the report, and be responsible for authenticity and validity of the audit report.
    Nineth net capital net capital and its calculation in chapter II refers to the terms of the business characteristics and liquidity of the assets and liabilities of the company, the net worth of the assets and liabilities on the basis of the project and related business risk-adjusted results of integrated risk control indicators.
    Net capital base is calculated as: net capital = risk-adjusted net assets-financial assets other assets-risk-adjusted-contingent liability risk-adjusted-/+ of China Securities Regulatory Commission found other adjustments or approved projects.
    Tenth securities company shall, according to the China Securities Regulatory Commission under securities firms net capital net capital standard.
    11th securities companies when calculating net capital shall be in accordance with the provisions of the relevant project full provision for impairment of assets. The China Securities Regulatory Commission and its agencies may require special explanation for impairment of assets the company extracted sufficient and reasonable.
    There is evidence to show that the company did not make full provision for asset impairment, the China Securities Regulatory Commission and its agencies may require the company to add extraction for impairment of assets and a corresponding reduction in net capital amount.
    12th securities companies when calculating net capital and similar financial assets should be accounted for in the different subjects together, risk-adjusted in accordance with unified financial assets property. 13th financial assets of a securities company, in accordance with the classification of financial assets and liquidity risks in different ratio adjustment.
    The classification of financial assets at the same time meet the standards of two or more, should be carried out with the highest proportion of risk adjustment.
    For securities companies break the rules disproportionately large holdings of financial assets, the China Securities Regulatory Commission and its agencies can ask the securities company in calculating net capital improved risk-adjusted ratios.
    14th securities companies involved in the collection of the company set up with their own capital asset management plan, should invest in the aggregate asset management contract amount, duration and liability, such as conventions, and under responsibility of the corresponding deductions when calculating net capital invested funds. 15th aging of receivables in accordance with article length and to recover the situation different in proportion to risk-adjusted, age should be counted from a business point. Both the classification of receivables in line with two or more standards, should be carried out with the highest proportion of risk adjustment.
    There is evidence to show that it is difficult to recover the deposit paid projects as well as supplying funds and buying back the overdue items such as the sale of financial assets, should be incorporated into the item for receivables and receivables deduction principle of risk adjustment. 16th securities companies should be disclosed in the net capital computation, full disclosure of contingencies at the end of the company's property (such as pending litigation, pending arbitration, providing guarantees, and so on), the amount involved, causes and developments, possible losses and accounting treatment of expected losses.
    Is likely to result in an outflow of economic benefits or matters of the company, should confirm that the expected liabilities than is likely to result in an outflow of economic benefits or matters of the company, in the calculation of net capital shall be according to the percentage reduction in contingent liabilities. 17th securities firms to holdings of securities issued by a subsidiary undertaking commitments to provide security, according to a certain proportion of the guarantee commitments amount should be reduced net capital.
    Engaging in securities underwriting and sponsorship, securities and asset management businesses, such as the China Securities Regulatory Commission approved the guarantee commitments provided by subsidiaries of the parent company can be in a certain proportion into account net capital.
    18th, borrow subordinated debt securities company, in calculating net capital by borrowing subordinated debt in a certain proportion into account net capital.
    Securities companies to stockholders or its affiliates to borrow subordinated debt nature of the term in more than 5 years and long-term borrowings, in calculating net capital by borrowing long-term loans according to certain proportions take into account net capital.
    Recorded net capital ratio by the CSRC in accordance with debt maturities and the company's financial position to determine.
    Chapter III risk control indicators standard 19th securities firm engaged in securities brokerage business, and its net capital shall not be less than RMB 20 million Yuan.
    Securities firm engaged in securities underwriting and sponsorship, securities, securities and asset management, one of the other securities business, net capital shall not be less than RMB 50 million Yuan.
    Securities firm engaged in securities brokerage, also operate securities underwriting and sponsorship, securities, securities and asset management, one of the other securities business operations, its net capital shall not be less than 100 million Yuan.
    Securities companies sponsor, securities, securities underwriting and asset management, two and two or more other securities business, and its net capital shall not be less than 200 million Yuan.
    20th securities company must conform to the following standard risk control indicators: (a) the net capital and risk capital ratio shall not be less than the sum of 100%, (ii) net capital and net worth ratio shall not be less than 40% and (iii) net assets-liabilities ratio shall not be less than 8% and (iv) net assets-liabilities ratio shall not be less than 20%.
    21st securities company shall, according to the China Securities Regulatory Commission established standard calculation of securities companies risk capital calculation of risk capital. Securities company business securities brokers business of, should according to managed of customer trading settlement funds total calculation brokers business risk capital prepared; business securities proprietary, and securities underwriting, and securities assets management, and financing thaw coupons business of, should according to about business scale calculation the business risk capital prepared; established branch, and securities sales, branch institutions of, should calculation branch institutions risk capital prepared; should according to Shang a years business costs total calculation operating risk capital prepared.
    Securities companies should also be in accordance with the provisions of the CSRC's other projects and corresponding risk capital ratio. 22nd article securities company business securities proprietary business of, must meet following provides: (a) proprietary interests class securities and the securities derivative products of total amount shall not over net capital of 100%; (ii) proprietary fixed returns class securities of total amount shall not over net capital of 500%; (three) holds a interests class securities of cost shall not over net capital of 30%; (four) holds a interests class securities of market with total market of proportion shall not over 5%,
    But the situation due to underwriting and except as otherwise provided by the China Securities Regulatory Commission.
    When calculating the proprietary scale, category of securities companies should be based on principal investments at cost and fair value is higher principles.
    23rd securities dealing securities margin financing services for customers of the company, must comply with the following requirements: (a) for a single customer financing operations shall not exceed the net capital of $ 5%, (ii) for a single customer lending and borrowing operations shall not exceed the net capital of $ 5% and (iii) receive single value shall not exceed the total market value of shares of a security stock of 20%.
    Scale of financing referred to in the preceding paragraph, refers to the principal total customer funds are melting; lending and borrowing operations, refers to the customer into the securities in the financial market as a whole.
    The 24th securities company in light of its own actual situation, not below the standards prescribed by the China Securities Regulatory Commission on the basis, determine the appropriate standard of risk control.
    25th, China Securities Regulatory Commission on the various indicators of risk control settings alarm standard provisions "shall not be less than" certain standards of risk control, its early warning criteria are criteria specified in 120%; requirement "not to exceed" certain standards of risk control, its early warning criteria are criteria specified in 80%.
    The fourth chapter presentation and disclosure 26th has subsidiaries of securities companies should be based on data of the parent company, net capital computation, risk capital calculation and risk control indicators monitoring reports.
    The China Securities Regulatory Commission and its agencies under the regulatory needs, requiring securities firms to merge data net capital computation, risk capital calculation and risk control indicators monitoring reports.
    27th securities company directors and senior managers of the company shall be half-yearly, annual net capital, risk capital a table table and risk control supervision report signature verification.
    Securities companies management Chief, in charge of finance to the company's monthly net capital computation, risk capital calculation and risk control indicators monitoring report signature verification opinion.
    In securities company net capital calculation table, and risk capital prepared calculation table and risk control index regulatory report Shang signed of personnel, should guarantee net capital calculation table, and risk capital prepared calculation table and risk control index regulatory report real, and accurate, and full, not exists false records, and misleading sex statement and major missed; on net capital calculation table, and risk capital prepared calculation table and risk control index regulatory report content dissented of, should in report Shang indicate himself of views and reason.
    28th article securities company should at least each half by main head signed confirmed Hou, to company all Director written report a times company net capital, risk control index of specific situation and standard situation; securities company should at least each half by Board signed confirmed, to company all shareholders written report a times company net capital, risk control index of specific situation and standard situation, and at least get main shareholders of sign confirmed proved file.
    Net capital indexes more than compared with the previous month, 30% changes or does not meet the required standards, securities companies should report to the company all the directors in writing within 5 working days, written report to all the shareholders of the company within 10 working days.
    29th the securities firm shall within 7 working days from the date of the end of each month, to the China Securities Regulatory Commission and its agencies submit monthly net capital computation, risk capital calculation and risk control indicators monitoring reports.
    Agencies under the regulatory needs, requires jurisdictions within a single, part or all of the securities company within a certain period on a weekly or daily prepared and submitted to the net capital computation, risk capital calculation and risk control indicators monitoring reports.
    30th the securities firm's net capital, risk control, such as indicators changes compared with the previous month over 20%, should be within 3 working days from the date of this situation, and its agencies report to the CSRC, description and reasons for the changes.
    31st securities firms net capital, risk control, such as indicators of early warning standards or does not comply with the required standards, respectively from the date of the case 3, 1 working day within the written report to the CSRC and its agencies, describes basic condition, origin of issues and problem solving of concrete measures and deadlines.
    The fifth chapter 32nd securities regulatory measures the company's financial and accounting reports, risk capital calculations, net capital computation table table, risk control indicators monitoring reports were certified public accountants to issue reservations no reservations or an explanatory paragraph, securities companies should involve special explanation on the matter.
    Relating to matters which do not belong to a clear violation of accounting rules, securities firms net capital rules and other relevant provisions, the China Securities Regulatory Commission and its agencies can require securities firms to explain the matter to the company's net capital, risk control, such as indicators of impact.
    Relating to matters which are in clear violation of accounting standards, securities firms net capital calculations and other relevant provisions of the rules, the China Securities Regulatory Commission and its agencies can ask the securities company deadline to correct, again a net capital computation, prepare calculation and risk control of venture capital index regulatory statements securities company is not period correct, the China Securities Regulatory Commission and its agencies can maintain their net capital, risk control indicator below standard.
    33rd securities company financial statements, net capital, risk capital a table calculation sheet, risk control indicators monitoring report is issued by the certified public accountant was unable to express a view or an adverse opinion, China Securities Regulatory Commission and its agencies can maintain their net capital, risk control indicator below standard. 34th article securities company net capital or other risk control index reached warning standard of, sent institutions should difference case, on its take following measures: (a) to its issued regulatory concern letter and CC company main shareholders, requirements company description potential risk and control measures; (ii) requirements company take measures adjustment business scale and assets liabilities structure, improve net capital level; (three) requirements company for major business decision Shi, at least ahead of 5 a days submitted specifically report,
    On the business of the company's financial situation and the impact of net capital, risk control, such as indicators and (d) request the company's compliance department to increase inspection frequency of risk control indicator, and submit reports on risk control levels.
    35th securities firms net capital or other risk indicators do not conform to the required standards, agencies shall order the company correct within 5 working days to develop and submit the corrective action plan, the time limit for rectification shall not exceed 20 business days; securities firm fails to submit the corrective action plan, agencies should immediately limit their business activities.
    Rectification period, the China Securities Regulatory Commission and its agencies should be distinguished, of securities firms to take the following measures: (a) to stop approval of new business, (ii) stops operating approval for the creation, acquisition branch, (iii) limit the distribution of dividends (iv) limit set in the property transfer of property or other rights.
    Article 36th after rectification of securities companies, the Agency inspection in accordance with the relevant indicators of risk control, the China Securities Regulatory Commission and its agencies shall be checked within 3 working days from the date of the lifting of the measures taken. 37th article securities company not regular completed rectification of, since rectification term due of next day up, sent institutions should difference case, on its take following measures: (a) limit business activities; (ii) ordered suspended part business; (three) limit to Director, and prison thing, and senior management personnel paid paid, and provides welfare; (four) ordered replaced Director, and prison thing, and senior management personnel or limit its right; (five) ordered holding shareholders transfer equity or limit about shareholders exercise shareholders right; (six) finds Director, and prison thing, and
    Senior management is not fit and proper.
    38th securities company fails to complete the rectification, risk control indicators continue to deteriorate, seriously endangers the operation of securities companies, the China Securities Regulatory Commission may revoke its business license.
    39th securities company risk control not standard, seriously endangering market order and damage the interests of investors in securities, the China Securities Regulatory Commission can tell, to take the following measures: (a) to order the rectification, (ii) other specified agencies managed, taking over; (c) the revocation of permit to operate securities business; (d) repealed.
    The sixth chapter supplementary articles 40th the following terms shall have the meanings herein: (a) risk capital: securities firms to carry out the business, establishment of branches that could cause risk of net capital losses should be prepared according to certain standards to calculate risk capital and establish corresponding relations with net capital, ensure that all net capital corresponds to the risk capital support.
    (Ii) sensitivity analysis: the other conditions under the premise, single or multiple factors on the possible effects of net capital, risk control, such as indicators, and judge whether it will lead to net capital, risk control indicator does not meet warning criteria or standards.
    (C) liabilities: external debt, does not contain agents selling securities.
    (D) assets: refers to private assets, excluding client assets.
    (E) contingent liabilities: the potential obligations from past transactions or events, future uncertain matters of its existence will be confirmed or not; or past transaction or event to form the present obligations, performance of the obligation is not very likely to lead to an outflow of economic benefits enterprise or the amount of the obligation cannot be measured reliably.
    (Vi) equity securities: stocks and mainly in shares as investment securities and financial products, including shares, equity funds and other securities provided by the CSRC.
    (G) fixed-income securities: bonds and mainly in bonds as investment securities and financial products, including bonds, bond funds and other securities provided by the CSRC.
    (H) the deposit paid: a securities company business deposit or pay security deposit amount.
    (I) major business: through measuring, could lead to net capital or other risk control over 10% changes in the indicators of business.
                                                                                                        41st these measures shall come into force on November 1, 2006.