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Brokerage of Physical Precious Metals

I. Introduction
The precious metals are spot contracts traded real time at the Shanghai Gold Exchange. The contracts handled by ICBC as broker for personal customers are Au100g, Au99.99 and Au99.95. ICBC makes quotes, settles the transactions and delivers physical precious metals according to customers' instructions. The transactions are settled in RMB. Investors can trade physical gold on the floor and take delivery of physical bullions.
Means of transaction: The customers makes quotes, have firm bid trade and conducts spot transactions matched by the system, and the customers can also take delivery of physical precious metals.

II. Target Client
The product is applicable to personal customers with precious metal investment needs who can bear certain risks and have the needs of taking delivery of physical bullions.

III. Features and Advantages
1. Flexible options: Individual investors who have opened a brokerage account for physical gold of the Shanghai Gold Exchange will be able to directly invest in physical bullions certified by the Shanghai Gold Exchange through ICBC's e-banking channels, high-end trading terminal and outlets.
2. Low investment threshold: 10 grams.
3. Transparent price: The price is in line with the international standard, and the trade-matching system has made the price highly transparent.
4. Long trading hours: The Shanghai Gold Exchange offers day session and night session.
5. Low cost: The cost involved in trading and taking delivery of physical bullions is low. 

IV. Conditions for Application
ICBC's personal e-banking customers with ICBC Money Link Card, E-Age Card or Elite Club Card can apply for the service.

V. Application Process
The customers can apply for opening a physical gold account through ICBC's e-banking channels or outlets.

Ⅵ. Service Channels and Hours
The customers can open accounts through personal internet banking, mobile banking, IPAD internet banking and outlets; the customers can trade physical gold through personal internet banking, telephone banking, mobile banking, high-end trading platforms, IPAD internet banking and outlets; and the customers can take delivery of physical gold from designated warehouses of the Shanghai Gold Exchange.
The trading hours of Shanghai Gold Exchange (Chinese Version)

Ⅶ. Expenses
The expenses include account opening fee (there is no account opening fee in some branches) and trading fee (no more than 0.08% of the contract value); Customers shall pay for the delivery if they need to take delivery of physical bullions.

Ⅷ. Operational Procedures
Open and register a new account —〉 check market prices and place order —〉 physical delivery.

Ⅸ. Notes
1. Account opening fee will be charged for opening physical gold account (there is no account opening fee in some branches). If the customers already have a gold customer code, the code shall be bound to their ICBC bank card before physical gold brokerage. Account opening fee is not required for binding the customer code to the account.
2. Customers can send instructions through e-banking channels to trade physical gold and take delivery of physical gold; however, the customers need to present their valid ID certificates to confirm their delivery applications and take delivery of physical gold at the designated outlets.
3. Customers shall complete the registration of physical gold accounts within the trading hours of the Shanghai Gold Exchange, and can trade only after receiving information from the Shanghai Gold Exchange about the successful opening of account two days after the trade date.
4. When changing the bank card bound to the physical gold account, customers can make the change through internet banking if there are no unsettled funds in the account; if the customers need to cancel the binding of their physical gold account to their bank card, they need to make sure there are no unsettled funds in the account on the current day and that the balance of gold is zero; otherwise, they can not conduct the transaction.
5. The trading unit is "lot", the quantity represented by "lot" differs as transactions vary. The lot of Au99.99 is 10 grams and delivery is conducted by 1,000 grams or integral multiples of 1,000 grams; the lot of Au99.95 is 1,000 grams and delivery is conducted by 3,000 grams or integral multiples of 3,000 grams; and the lot of Au100g is 100 grams and delivery is conducted by 100 grams or integral multiples of 100 grams. The minimum trading unit is one lot and the tick size is one lot.

X. Risk prompt
As the price of precious metals may drastically fluctuate due to domestic and international political and economic factors as well as emergencies, investors are advised to take into consideration of the risks and losses arising therefrom.