Ancient China And Innovative XBRL Qinye Zhou Deputy President Shanghai Stock Exchange

1. Ancient China And Innovative XBRLQinye ZhouDeputy PresidentShanghai Stock Exchange

2. Agenda • Review on the development of XBRL in China in the past four years • Thoughts and experiences gained from SSE’s use of XBRL • SSE’s next agenda • Questions & Answers

3. Review On the development of XBRL • As early as 2002, establishing a research group for XBRL application, consisting of staff from China Securities Regulatory Commission, Shanghai Stock Exchange, Shenzhen Stock Exchange, Shanghai New Lido Data Technology Co., Ltd and Genius Co., Ltd. • On October 29, 2003, SSE held a symposium on XBRL taxonomies. Experts and professionals from Chinese Academy of Sciences (CAS), PriceWaterhouseCoopers (PwC) and FACTIVA attended the symposium.

4. On November 20, 2003, SSE started implementing the XBRL-based listed company filing system. • On December 30, 2003, 50 Shanghai-based listed companies were selected for a pilot program. • In 2004, SSE launched the XBRL Pilot Project. • In April, 2005, XBRL International granted direct participant membership to the SSE.

6. Taxonomy development • In September, 2005, the China Listed Company Information Disclosure Taxonomy Framework developed by the SSE was granted Acknowledged status by XBRL International. • In July 2006, the China Fund Company Information Taxonomy Framework developed by the SSE was granted Acknowledged status by XBRL International. • On February 13, 2008, the Financial Listed Company Taxonomy Framework was granted Acknowledged status by XBRL International.

8. The participation of XBRL in China • Initially, SSE and Shenzhen Stock Exchange • Currently, government agencies, regulatory authorities, academic institutions and universities, intermediaries, software vendors, other organizations and individuals

9. XBRL-based products • TopView, which is the first XBRL data product in China. • XBRL E-Filing system, by which all 863 companies are now filing their regular reports in XBRL format.

10. XBRL E-filing System

11. XBRL E-filing System • Pre-defined templates are customizable to varieties of business and covered all periodic reports’ requirements: quarterly, half year and annual report. • The resulting XBRL instance document can be converted to MS word. • The E-filing system becomes a platform between the listed companies and SSE to submit and disclose the information.

12. Four thoughts gained from SSE’s use of XBRL • Governmental support is critical • Help from XBRL international organization and experts is very valuable • Leveraging the breakthrough in specific project to create a platform for XBRL application • Building an industry chain of information services

13. Government support • The high level: China Securities Regulatory Commission (CSRC), National Committee for Standardization, the Ministry of Finance, the Chinese Institute of Certified Public Accountants (CICPA) • The listed company information disclosure taxonomy has become a national standard

14. Help from XBRL international organization and experts • On May 16, 2004, Mr. Walter Hamscher, Chair of XBRL International Steering Committee, visited the SSE • On October 13, 2006, Mr. Kurt Ramin, Chair of XBRL International, visited the SSE • On April 20, 2007, Mr. Micheal Ohata, Chair of XBRL International, and Ms. Liv Watson, Chair of the XBRL Jurisdiction Development Sub-Committee, visited the SSE.

15. Leveraging the breakthrough in specific project • The XBRL Pilot Project • XBRL E-filing System • The filing system for the reports of fund companies • IPO and refinancing filing System

16. Building an industry chain of information services • Topview company information product in XBRL format • Business cooperation with Edgar Online and Bloomberg • Analytical tools

17. Analytical Tool

18. The main aspects we focus on • Due consideration to client needs • Adequate logistics support • Participation of intermediaries • Great importance placed on XBRL

19. Next Agenda • Advancing fund company reporting using XBRL • Accelerating the application of XBRL in IPOs and refinancing activities • Adopting digital signature in XBRL application • Further promoting the establishment of XBRL China

20. Questions & Answers

21. Thank You