) announced today that the board of directors of the Company has approved the proposal to issue subordinated term debts with an aggregate amount of not exceeding RMB 30 billion by the Company. The subordinated term debts will be issued to qualified investors who meet relevant regulatory requirements. The term of the subordinated term debts will be no less than five years and the interest rate will be determined by making reference to market interest rate. The proceeds will be used to replenish the Company's supplementary capital and raise the solvency ratio of the Company.