Zhong De Securities Company Limited (“Zhong De Securities”), the joint venture between Shanxi Securities Co., Ltd. and Deutsche Bank, has received its operating license from the China Securities Regulatory Commission on July 6, 2009. The license allows the new company to underwrite and sponsor RMB denominated ordinary shares and foreign investment shares, as well as government and corporate bonds.

Kejie also advised Shanxi Securities and Deutsche Bank on the legal and regulatory issues relating to the establishment of Zhong De Securities.

The Kejie team is led by partner Mr. He Jie and included Ms. Cao Lei, Ms. Yu Jiazhi, Mr. Zhang Fang and Ms. Gao Yuan.

The news was reported by Wall Street Journal Asia.