What Is a Bond Market Association?

China National Debt Association was established in August 1991. It is a self-regulatory management organization of the national bond industry approved and registered by the Ministry of Finance of the People's Republic of China and the registration and management organization of associations. It is a non-profit social organization legal person.

China National Debt Association

General Department

Chapter I General Provisions

Article 1 Association Name

National Debt Investment Project: Beiliang Grain Depot

Group name: China National Debt Association (hereinafter referred to as the Association), English translation: National Debt Association of China, English abbreviation NDAC.

Article 2 Nature of Association

The association is a self-regulatory social organization of the national bond industry registered in accordance with the law, and it is a non-profit social group legal person.

Article 3 Purpose of the Association

Abide by the national constitution, laws, regulations, and national policies, and observe social morals; adhere to the party's line, guidelines, and policies; under the premise of unified government supervision, conduct self-discipline management of the bond industry and maintain order in the bond market; Protect the legitimate rights and interests of members; play the role of a bridge between the government and members; serve members and government departments, and promote the healthy and stable development of the Chinese bond market.

Article 4 The Association accepts the business guidance, supervision and management of the Ministry of Finance and the registration and management organs of associations.

Article 5 Association Residence: Beijing, China

Chapter II Business Scope

Article 6 According to the nature and purpose of the association, the association conducts the following businesses:

(1) Implementing self-discipline management of the national bond industry, organizing and supervising members to implement relevant national laws, regulations and policies, self-discipline, legal operation, honesty and trustworthiness, and suggesting punishment for members who violate the rules;

(2) Organizing relevant theoretical research on bonds, finance, etc., conducting academic exchanges and market research, and providing policy recommendations to the competent government departments;

(3) Propagating bonds, finance and other laws, regulations and national policies, reflecting the dynamics of the bond market, collecting, collating and publishing information on the domestic and foreign bond industries, and providing information consulting services to members and investors;

(4) Organize employees' domestic and foreign business training, cultivate professional talents, and improve the overall quality and management of the industry;

(5) Promote unity and cooperation among members, and organize exchanges and cooperation between members and the same industry at home and abroad;

(6) Protecting the legitimate rights and interests of members, listening to and reflecting the opinions and suggestions of members;

(7) Cooperate with the competent government departments to do a good job in the management of the issuance, trading, redemption and underwriting syndicates of treasury bonds; assist in the publicity of financial management policies, business training and consulting services for treasury bonds and financial enterprises;

(8) Other self-discipline, service and coordination functions.

Chapter III Association Members

Article 7 The members of the association are unit members.

Article 8 Members applying for membership of the Association must meet the following requirements:

(1) to support the constitution of the association;

(2) Willingness to join the association;

(3) Engage in bond business and be a financial institution and government bond intermediary with certain influence in the industry.

Article 9 Procedures for members to join the association:

(1) Submitting an application for membership;

(2) discussed and adopted by the council;

(3) The membership card is issued by the council or an authorized body of the council.

Article 10 In the event of merger, division or termination of members, their membership shall be changed or terminated accordingly.

Article 11 Members enjoy the following rights:

(1) The right to vote, be elected and vote for the Association;

(2) Participating in association activities and enjoying priority;

(3) Priority of obtaining the services of the Association;

(4) the right to criticize, suggest and supervise the work of the association;

(5) Volunteer membership and freedom of withdrawal.

Article 12 Members fulfill the following obligations:

(1) abide by the association's articles of association, self-discipline rules, industry standards and business norms;

(2) implementing the resolutions of the association;

(3) safeguarding the legitimate rights and interests of the association;

(4) Actively participate in the activities organized by the association and complete the tasks assigned by the association;

(5) Payment of dues in accordance with regulations;

(6) Report the situation to the association and provide relevant information.

Article 13 Members withdraw from the association shall notify the association in writing and return their membership card.

Article 14 Any member who commits a serious violation of the association's articles of association shall be removed by voting by the council or standing council.

Chapter IV Association Organizations and Persons In Charge

Article 15 The organization of the Association is: the General Assembly, the Council and the Executive Council.

Article 16 The General Assembly is the supreme authority of the Association. Its functions and powers are:

(1) Formulating and revising the articles of association;

(2) election and removal of directors;

(3) to review the work report and financial report of the council;

(4) Formulating and revising the standards for collecting membership dues;

(5) Deciding on termination matters;

(6) Decide on other major matters.

Article 17 A general meeting must be attended by more than two-thirds of its members, and its resolutions must be approved by more than half of the members present at the meeting.

Article 18 The general meeting of members shall be held for 4 years. In case of special circumstances that need to be renewed in advance or postponed, it must be approved by the council, submitted to the Ministry of Finance for review and approved by the registration management authority of the society. However, the extension may be delayed for a maximum of one year.

Article 19 The council is elected by the general assembly. Non-member directors are appointed by the Ministry of Finance. The council is the executive body of the general meeting of members. During the intersessional period of the general meeting, the council leads the daily work of the association and is responsible to the general meeting.

Article 20 The functions and powers of the Council are:

(1) Implementing the resolutions of the General Assembly;

(2) Election and removal of chairman, executive vice chairman, vice chairman, secretary general, and executive director;

(3) preparing to convene a general meeting of members;

(4) Reporting work and financial status to the general meeting;

(5) Deciding to establish an office, branch, representative, or entity;

(6) Deciding on the appointment of the Deputy Secretary-General and the principals of various agencies;

(7) Lead the institutions of the association to carry out their work;

(8) Formulating the internal management system of the association;

(9) Decide on other major matters.

Article 21 The council must be attended by more than two-thirds of the directors, and its resolutions must take effect after two-thirds of the directors vote.

Article 22 The council meets once a year; in special circumstances, it may also be held by means of communication.

Article 23 The standing council is elected by the council. The executive council exercises Article 20 (a), (c), (f), (f), (f), (f), (f) and other functions during the intersessional period of the council and is responsible to the council.

Article 24 The standing council must be attended by more than two-thirds of the executive directors to be convened, and its resolutions can only take effect if they are passed by two-thirds of the standing council members.

Article 25 The executive council meets semi-annually; in special circumstances, it may also be held by means of communication.

Article 26 The Association has one chairman, one executive vice chairman, and several vice presidents.

Article 27 The Association shall have a secretariat. The Secretariat is the permanent office of the Board. The Secretariat has one Secretary-General and several Deputy Secretary-Generals.

Article 28 The president of the association, the executive vice chairman, the vice chairman, and the secretary general are nominated by the Ministry of Finance and elected by the council.

Article 29 The chairman, executive vice chairman, vice chairman, and secretary general of the association must meet the following requirements:

(1) Adhere to the party's line, principles, and policies, and have good political quality;

(2) It has a greater influence in the business field of the association;

(3) be healthy and able to work normally;

(4) Have not been subjected to criminal punishment for deprivation of political rights;

(5) Having full capacity for civil conduct;

(6) The highest age of the chairman, executive vice chairman, vice chairman, and secretary general shall not exceed 70 years of age.

Article 30 If the president, executive vice chairman, vice chairman, or secretary general of the association exceeds the maximum age of office, it must be approved by the board of directors, submitted to the Ministry of Finance for review, and approved by the registration management authority of the society before it can serve .

Article 31 The term of office of the President, Executive Vice President, Vice President, and Secretary General of the Association is 4 years, and shall not exceed two terms. If it is necessary to extend the term of office due to special circumstances, it must be approved by 2/3 or more of the members' representatives at the general meeting of the members, submitted to the Ministry of Finance for review, and approved by the registration management authority of the society before it can serve.

Article 32 The president of the association is the legal representative of the association. (If the executive vice president is required to act as the legal representative due to special circumstances, it should be reported to the competent business unit for review and approved by the association registration management authority before serving as the representative.) . The legal representative of the association does not concurrently serve as the legal representative of other groups. The legal representative of the association signs relevant important documents on behalf of the association.

Article 33 The chairman exercises the following functions and powers:

(1) Convene and chair the council and executive council;

(2) Preside over the chairman's office meeting (with the participation of the executive vice chairman, vice chairman, and secretary general);

(3) to supervise and inspect the implementation of the resolutions of the General Assembly, the Council, the Executive Council, and the matters agreed at the office meeting of the President;

Article 34 The Secretary-General exercises the following functions and powers:

(1) Preside over the work of the Secretariat;

(2) presiding over the preparation of the annual work plan and financial plan of the association;

(3) Organizing and implementing the annual work plan and financial plan of the association, and reporting to the council;

(4) Coordinating the work of all branches, representative offices and entities;

(5) To complete the tasks assigned by the general meeting, the council, the executive council, and the office meeting of the president;

(6) Nominating the appointment and removal of the deputy secretary-general of the association and other important personnel, and signing employment contracts for the staff of the association's secretariat, branches, representative organizations, and entities;

(7) Complete other work of the association assigned by the chairman and executive vice chairman;

(8) Handling other daily affairs.

Chapter V Principles of Association Asset Management and Use

Article 35. Funding sources of the Association:

(1) Membership fees paid by member units;

(2) government funding;

(3) Donations;

(4) income from activities or services carried out within the approved scope of business;

(5) Interest income;

(6) Other legal income.

Article 36 The Association collects membership dues in accordance with relevant state regulations.

Article 37 The funds of the Association must be used for the development of the business scope and cause stipulated in these Articles of Association, and shall not be distributed among its members.

Article 38 The Association establishes a strict financial management system to ensure that the accounting information is legal, authentic, accurate and complete.

Article 39 The Association is equipped with professionally qualified accountants. Accounting should not act as cashier. Accountants must perform accounting calculations and implement accounting supervision. When an accountant is transferred or resigned, he must perform a resignation audit and clear the transfer formalities with the takeover staff.

Article 40 The asset management of the Association must implement the financial management system prescribed by the state, implement financial disclosure, and accept the supervision of the General Assembly and the financial department. If the source of assets is a state appropriation or social donation or funding, it must be subject to the supervision of the auditing agency and the relevant situation shall be announced to the society in an appropriate manner.

Article 41 Before the association changes or changes its legal representative, it must accept the financial audit organized by the registration management organization of the society or the Ministry of Finance.

Article 42 No unit or individual of the Association's assets may embezzle, privately distribute or misappropriate.

Article 43 The wages, insurance and welfare benefits of full-time staff of the Association shall be implemented with reference to the relevant state regulations on public institutions.

Chapter VI Procedures for Amending the Articles of Association

Article 44 Amendments to the articles of association of the Association shall be submitted to the General Assembly for consideration after being approved by the Council.

Article 45 The amended articles of association of the association shall take effect within 15 days after being approved by the general assembly, after being reviewed and approved by the Ministry of Finance, and reported to the registration and management authority of the society.

Chapter VII Association Termination Procedure and Disposal of Property After Termination

Article 46 If the association completes its purpose or dissolves itself or needs to be cancelled due to reasons such as division or merger, the council or standing council shall propose a termination motion.

Article 47 The motion for termination of the association must be approved by the general meeting of the members and submitted to the Ministry of Finance for review and approval.

Article 48 Prior to the termination of the association, a liquidation organization must be established under the guidance of the Ministry of Finance to clear creditor's rights and debts and deal with aftermath. During the liquidation, not to carry out activities other than liquidation.

Article 49 The association shall be terminated after it has gone through the cancellation registration formalities of the association registration management organ.

Article 50 The remaining property after the termination of the association shall be used for the development of undertakings related to the purpose of the association under the supervision of the Ministry of Finance and the registration management authority of the association.

Chapter VIII Supplementary Provisions

Article 51 The Articles of Association were approved by the general meeting on April 22, 2008.

Article 52 The right to interpret this charter belongs to the Council of the Association.

Article 53 This Article of Association shall become effective on the date of approval by the registration management authority of the association.