CMAA's Business Network -- Members gain the opportunity to connect with business leaders in various industries as well as with government officials. The business network serves as a valuable information channel and a platform for new business development. Through various forums, expositions, visits, as well as periodic training programs and continuing professional education seminars, members will expose themselves to the highest quality and most current developments in China M&A.

Policy Influence -- CMAA focuses on the dynamics of China’s M&A activities, provides professional M&A advice to the government on behalf of industry, and helps to stimulate research activities within the M&A industry. Furthermore, as a coordinator, CMAA is able to protect members’ lawful business rights, promote the standardization of M&A transactions, and create ethical standards for the M&A industry.

Access to current information -- CMAA members receive China M&A Express and the China M&A Yearbook free of charge. Members also have their own website linked directly with www.mergers-china.com, the official website of CMAA. Furthermore, all members are granted their own IP address.

Discounts and Privileges -- All members guarantee to provide M&A services to fellow members at the lowest possible price. Additionally all members enjoy discounted prices for conferences and forums held or sponsored by CMAA. Deep discounts are awarded to members placing advertisements with media having business relationships with CMAA. Members may, with CMAA’s permission, be entitled to conduct business activities under the CMAA name.

b. Enrolment Procedures
1) read and fully understand CMAA Constitution;
2) fill in the CMAA Membership Application Form, and submit it with other documents to the Membership Committee of CMAA;
3) The Membership Committee of CMAA verifies the contents in the application form and then submit it to the board of executive directors for approval;
4) The secretariat issues a membership certificate.

c. Withdrawal Procedures
1) The member should inform CMAA in writing and return its membership certificate to withdraw. It is regarded as automatic withdrawal if the member does not hand in the membership dues for more than 90 days;
2) The membership will be cancelled with the approval of the board of executive directors in the following circumstances:
i. criminal penalty for violation of the state laws;
ii. honor damage or economic loss to CMAA for failing to abide by the related stipulation in the CMAA Constitution;
iii. cancellation of license certificate or corporate business certification by the local sectors of civil administration or industry and commerce;
iv. failure to participate in the activities of CMAA for one year.

d. Re-enrolment
If a member wants to join CMAA after its membership has been cancelled for more than one year, it is supposed to apply for the membership as for the first time.

II. Rights and Obligations
a. Rights
1. right to vote, be voted for, and take a vote;
2. right to participate in the activities of this group;
3. right to enjoy the priority of this group;
4. right to criticize, advise and monitor the work of this group;
5. right to withdraw freely.

b. Obligations
1. implement the decision of this group;
2. safeguard the legal rights and interests of this group;
3. finish the work assigned in this group;
4. actively participate in the activities of this group;
5. hand in the membership dues according to the stipulations
6. report to this group and provide the related materials;
7. actively cooperate with the update and maintenance of the website, journal and database of this group;
8. assign a specific department or person to take charge of liaison with this group;
9. introduce two members into CMAA.

III. Basic Services
a. Membership Certificate:
Each member will obtain a membership certificate by CMAA to show to the public. The membership certificate marks out the membership identity, level and enrolment time, which is granted by the CMAA secretariat.

b. Organization of activities in the name of CMAA:
The member can be authorized by CMAA to organize a variety of activities in the name of CMAA, which is beneficial to the national economic development and the standardized advancement of the industry.

c. Network Services:
The website www.ma-china.com will provide services for members on the basis of current information platform to promote the member-member and member-CMAA communication and exchange. The member can upload its company profile on this website with discount.
d. Research Results
The member can share China M&A Express, China M&A Index and China M&A Quarterly or Monthly Report free of charge. Other research results of M&A will be available with discount.

e. Membership Newsletter
The Membership Newsletter is founded by CMAA, which is a publication of the first-hand commercial news and services regularly presented to the members. It publishes the report of activities in CMAA, introduction of new members, membership services lately launched, big news in the member enterprises, the information about exhibitions in the industry, latest exchanges of technology at home and abroad, new policies and regulations, and other news in the industry.

f. China M&A Annual Conference
The member can attend the China M&A Conference with discount, which has become a summit in the circle of M&A in China after its successful organization for four years.

g. Exhibition Services
CMAA will organize, co-organize or sponsor more than a dozen of exhibitions with favorable exhibition fees for its members.

h. Advertisement service
1) CMAA annually edits M&A Report, China Industrial Map and other series of M&A, which has won sound prestige in the industry. The cover, back cover and the column on the folding lines of those publications are all available for advertising with favorable prices towards CMAA members.
2) CMAA launches the Key Project Recommendation and Link to Recommended Enterprises available for a month in the frontpage of www.mergers-china.com and its website. CMAA members can enjoy the favorable services of advertising.
3) In its internal publication Membership Newsletter, CMAA will assist its members in the project promotion in addition to the whole-course report of new members. In this way, the members' information can be shared widely with favorable cooperation between members.

i. Participation in Edition of M&A Series and Appraisal of M&A Prizes
CMAA participates in the edition of China M&A Report, China Industrial Map, Technical Manual of M&A, Asia Capital Month and China M&A Express.
It also participates in the appraisal of Top 10 M&A and other activities. Top 10 M&A is an annual event of appraisal in the industry of M&A, which consists of four prizes: Top 10 Events in China, Top 10 Events in the World, Top 10 Persons in China, and Top 10 Persons in the World. CMAA will invite the specialists in the industry and other famous media of finance and economy to participate in the appraisal.

j. Cooperation within the Industry
To enlarge the size of membership, CMAA will absorb members from different fields to enhance the professional relationships between the members with the leaders in the industry and government officials, and to set up the smooth channels and healthy industrial network. It takes advantage of different activities to explore new opportunities to establish the strategic union in the industry and assist the members in obtaining the commercial benefits.

k. International Exchange and Cooperation
CMAA develops the exchange and cooperation with peers at home and abroad to enhance the international acknowledgement and business relationships of its members.

l. Industrial Standards Design
CMAA organizes its members to study the business charging standards on the basis of M&A target amount to avoid the vicious competition between its members and thus safeguard the overall benefits of the M&A industry. It standardizes the rational development of the M&A business market and set up the standards of occupational moralities in the industry.

m. Policy Formulation
It is keenly concentrated on the dynamics in the industry, puts forward professional suggestions to the governmental sectors on the behalf of the industry and provides assistance for the professional research in the industry. In particular, it exerts its function of coordination to persistently protect the proper social and commercial rights and interests of its members.

n. Training
CMAA invites the experts in the industry to form a experts' committee, which provide the business consultancy, policy explanation, industrial analysis and discussion to its members. The committee also organizes seminars or special trainings on the technical problems of M&A, irregular overseas trainings, surveys, workshops and forums to exert its public influence to a maximum extent and provide the best industrial trainings to its members.

o. M&A Fund
CMAA takes charge of set up a M&A fund platform of industrial capital and financial capital at home and abroad to provide the capital support for the industrial integration and M&A integration for its members.

IV. Membership Service Fee
a. membership service period shall be at least one year and multi-year membership is allowed.
b. The standard service fee is 3000 Yuan per year.
c. Please make your check payable to:

Account Name£ºBEI JING WO DE HENG QUAN QIU BING GOU ZI XUN ZHONG XIN
Bank Name£ºJianguomen subbranch of Hua Xia Bank (No. of subbranch £º616)
Account No.£º819410430
Or mail to:
Address£ºSuite 816, Tower One, Bright China Chang An Plaza No.7, Jianguomen Nei Avenue, Beijing, China
Zip code£º100005

V. Other Services
CMAA will promptly launch new services according to the demands of its members and in the market. Its members will enjoy the priority of or preference in obtaining the new services.

The Terms is subject to the explanation and modification by CMAA, which will take effect from September, 2005.

The Terms were last modified (2nd time) at the member (representative) meeting on July 25, 2006, to be implemented on August 1st 2006.

China Mergers & Acquisitions Association
July, 2006

Download Membership Application Form