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Corporate Culture
In accordance to China Merchants Fund Co. Ltd.'s ("CMF") business principles, we shall pursue long-term development of our staff to fully recognize our corporate values, so as to shape our corporate culture.
1. The attitude of "openness" and "knowledge acquisition" formed the core values of our corporate culture. To adapt to the fast moving pace of today's global economy, and to cope with unpredictable changes worldwide, all people and organizations should develop its ability, not only to cope with and manage changes, but also to become innovative and be prepared to adopt newer skills - this is what we called the ability to learn. CMF is a corporate entity facing the world. It will continuously absorb successful experience and advanced technology from local and overseas. It also attracts local and overseas talents, and continuously improves its own competitiveness. Each and every staff of CMF will be able to acquire knowledge and continue growing in such an open environment.
2. "Consolidation" and "teamwork" are important aspects of our corporate culture. Being a sino-foreign joint venture company, we see cultural differences between our shareholders and our
employees as being normal. Nevertheless, we shall endeavor to integrate the competitive advantages of various parties, to advocate the concept of unity and to exhibit our competitive edge as an entity. We oppose individualism amongst the parties and we avoid unreasonable criticisms. We should uphold our team spirit to be able to achieve our ultimate goals. Team spirit should be reflected amongst every department, amongst every staff. While we respect different personalities so as to encourage the staff to exhibit their own enthusiasm and innovativeness, we also focus on team's effort and ultimate success, while paying particular attention to the organic synthesis of personal incentive and team incentive.
3. "People is our foundation" and "steering towards achievements" are the major characteristics of our corporate culture. "People is our foundation" has two meanings: Externally, we treat our customers as our close friends, and we deliver them with excellent service. Internally, we pay every respect to our staff, to develop them and to be considerate. Human resources are the most important strategic resources, and are the basic foundation of every business success. The personal wisdom of every staff, their day-to-day laboring and their long-term growth and development, altogether shall shape the future of CMF. Their future careers are bonded to the company's future development. Concurrent to the company's continual growth, we shall provide a career platform and a performing stage for each of our staff during their own career path. All levels of our management shall respect every staff, and be able to make proper allocation and to stimulate staff's productivity, and to be responsible for the future development of every staff. CMF advocates mutual respect, mutual consideration and mutual assistance amongst the staff. While we admit the fact that "who can come in can go out", we encourage those enthusiastic and aggressive staff to stay long with the company. We pay strong emphasis on integrity and coherence. We shall seriously protect the legal rights of our staff; we shall actively create good working environment and living condition to our staff, and to assist relief of their personal difficulties.
"Steering towards achievements" forms the basis of every kind of our internal appraisals. We shall make every judgment according to the end-results and actual achievement. We do not mean to ignore the working process by which our staff has undertaken, but the end result is the always the decisive factor. While we will not forget the hardship our staff has experienced, we shall pay more attention to their genuine achievements.

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