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Trusteeship Services

Collective payment
By relying on ICBC's settlement outlets across the country and a powerful clearing system, fast, convenient and accurate annuity fund collection and treatment payment services can be provided.

Asset custody
An annuity fund account is established separately, with separate accounting, daily valuation and regular reconciliation, to ensure the integrity, independence and safety of annuity fund assets.

Fund clearing
Upon the completion of securities transaction by an investment manager, the securities registration company or counterparty will complete the clearing of OTC and on-exchange funds.

Accounting is applied to annuity fund according to the accounting standards on which the annuity fund is based. The accounting includes cost measurement, revenue recognition, interest accrual and expense carry-over. Balance sheet, statement of operating results and statement of changes in net value are provided on a monthly basis.

Asset valuation
The assets under the annuity fund is valuated at fair value, to accurately reflect the true value of annuity fund; and the net growth rate of fund assets is calculated on a daily basis.

Supervision on investment
The investment operation of annuity fund is supervised in accordance with national regulations and custody contract, to ensure that the annuity fund under custody can be invested according to the agreed requirements. If any problems are found, it shall be reported to the trustee and regulatory authority in a timely manner. 

Custody report
The report on operation of annuity fund is provided to the trustee and regulatory authority in a timely manner, including: accounting statement, custody report, risk warning and information to be disclosed as required by relevant regulatory authority.