CGCC Financial Committee -- First Meeting in 2013

June 19, 2013 -- CGCC's Financial Committee convened its first meeting in 2013 in the Saint Andrew’s Golf Club on June 19th, 2013. Representatives from all the member companies of the Committee, including Bank of Communications New York Branch, Agricultural Bank of China New York Branch, Bank of China New York Branch, China Construction Bank New York Branch, China Merchants Bank New York Branch, The People's Bank of China Representative Office for the Americas, CICC US Securities, CCIC New York Representative Office, China Reinsurance Group & China Continent Insurance Company NY Office, HSBC, Wells Fargo, Cathay Bank, and Marsh USA, participated the meeting. The President of CGCC's Financial Committee who is also the Vice President of CGCC Mr. Hao Xiaohui hosted the meeting.

During the meeting, Sullivan & Cromwell, one of the most prestigious law firms in the financial industry, held a lectures titled with "Regulatory Developments Important to Chinese Banks Operating in the U.S.", discussing the impact of recent policy change to foreign banks, resolution planning, updates on Koehler litigation and its implications, U.S. economic sanctions and anti-money laundering laws, and the influences of FATCA to financial services companies specifically on foreign companies.

After the conclusion of the morning session, Participants joined the golf tournament in the afternoon at the most historical golf court at Saint Andrew's Golf Club.

Mr. Hao Speaking