China Merchants Fund Management Co. Ltd. ("CMF") officially commenced business on December 27th, 2002, and is the very first sino-foreign joint venture fund management established after China's accession to the WTO. The formation of CMF not only has significance to the development history of China's fund management industry but is also a milestone signaling the introduction of global investment standards in China.

As the first sino-foreign joint venture company, our core competitive advantage lies in our ability to adopt and integrate ING's vast experience and international expertise in fund management into CMF. Based on CMF's corporate principles of "integrity, harmony, innovation and excellence", we seek to bring out the best of each individual through performance-oriented appraisals and the creation of a harmonious environment for both the local and expatriate staff, thereby enabling the company to achieve stable and long-term growth.

Commitment generates results, integrity builds trust, initiative engenders innovation and hard work begets excellence. Finally, we have in CMF today, people from all over China and the world with varied backgrounds working together to build a company that is not only trusted by customers and fulfils the expectations of its shareholders but also loved by its employees, all working towards the common objective of creating a first class investment management company in China.