On January 30, 2013, China Merchants Asset Management (Hong Kong) Company Limited (''China Merchants Assets Management HK'') was incorporated in Hong Kong as a wholly-owned subsidiary of China Merchants Fund Management Co., Ltd. (''China Merchants Fund'') and obtained the approval from the Hong Kong Securities Regulatory Commission to engage in regulated activities in the first category (securities trading), the fourth category (inquiries on securities) and the ninth category (providing asset management).