Laws of the People's Republic of China

Letter of China Banking Regulatory Commission concerning the Approval to Dalian Branch of Japan Mizuho Corporate Bank, Ltd. to Deal in Providing RMB Business Service for Non-foreign-funded Enterprises

Japan Mizuho Corporate Bank, Ltd

The letter which was sign by Hiroshi Saito, president of your bank, and was addressed to this Commission has been received.

The following reply is hereby given to you according to the Regulation of the People's Republic of China on the Administration of Foreign-funded Financial Institutions (Order No. 340 of the State Council, hereinafter referred to as the Regulation) and the Detailed Rules for the Implementation of the Regulation of the People's Republic of China on the Administration of Foreign-funded Financial Institutions (Order No. 4 of China Banking Regulatory Commission, hereinafter referred to as the Detailed Rules):

Your Dalian Branch is approved to deal in RMB business services for non-foreign-funded enterprises under the scope prescribed in Article 17 of the Regulation.

After going through the statutory formalities in accordance with the Regulation and the Detailed Rules, your Dalian Branch may, under Article 35 of the Detailed Rules, deal in providing foreign exchange services for various clients under the following scope; providing RMB business services for foreign-funded enterprises, China-based foreign institutions, mainland-based representative offices of the enterprises set up by Hong Kong, Macao and Taiwan, aliens, compatriots from Hong Kong, Macao and Taiwan, and the non-foreign-funded enterprises; pooling public deposits, granting short-term, medium-term and long-term loans, transacting acceptance and discount of negotiable instruments, buying and selling government bonds and financial bonds, buying and selling non-stock negotiable instruments denominated in a foreign currency, providing services on letter of credit and guaranties, transacting domestic and overseas settlements, buying and selling foreign currencies, buying and selling foreign currencies for itself or on a commissioned basis, converting foreign currencies, inter-bank funding, bank card business, safety-deposit box, providing credit-standing investigation and consultation services, as well as other business activities upon approval of China Banking Regulatory Commission.

China Banking Regulatory Commission

March 13, 2006