On May 4, 2018, Mr. Wang Zhanfeng, Party Secretary of China Huarong, visited Mr. Yi Huiman, Party Secretary and Chairman of the Industrial and Commercial Bank of China (ICBC). The two sides held talks on deepening cooperation and exchanged opinions on areas of common concerns.

　　Mr. Wang introduced to Mr. Yi the recent development of China Huarong, and praised the cordial cooperation between China Huarong and the ICBC over the years. He thanked the ICBC for its persistent support, care and trust in the development of China Huarong. He stressed that the China Banking and Insurance Regulatory Commission (CBIRC) pays high attention to the development of the company, where the CBIRC sent its Vice Chairman, Mr. Cao Yu, in the first instant to announce the new leadership of China Huarong, and expressed its ample trust and support to the company. The company’s shareholders, such as the Ministry of Finance, Warburg Pincus and other strategic investors also possess strong confidence in the long-term development of China Huarong. Recently, under the solidarity and cooperation of the new leadership, the company operates in orderly progress and all work is carried out smoothly.

　　Looking into the future, Mr. Wang Zhanfeng said that China Huarong will strive to achieve “two returns”: in terms of thinking, we must return to where we started, steadfastly uphold the authority of the CPC Central Committee and its centralized, unified leadership, strengthen the “Four Consciousnesses”, and unswervingly implement the principles and policies of the Party, and conscientiously abide by the Party’s political discipline and rules; in terms of business development, we must return and focus on our core business, substantially enhance the ability to serve the real economy. China Huarong will continue to play the leading role in distressed asset business, to follow the supply-side structural reform to serve the national strategies of technology innovation and industrial upgrading, and to achieve the goal of high-quality development.

　　Subsequently Ms. Li Xin, Deputy Party Secretary of China Huarong, introduced the cooperation situation and discussed present cooperative projects between both sides.

　　Mr. Yi Huiman, Party Secretary and Chairman of the ICBC, said that the ICBC has always been close partners with China Huarong. In the future, the ICBC will continue to support China Huarong to strengthen its core business, upgrade its ability to serve the real economy and achieve sustainable development. The ICBC will also continue to strengthen cooperation with China Huarong in distressed asset business in order to better prevent and resolve financial risks.