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Exhibit 12 – Breakdown of China’s H-shares Index

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Data: Bloomberg

According to the World Economic Forum’s 2012 Financial Development Report, China ranked 20th (out of 60 countries) which was above all other BRIC countries. The ranking has seven sub-pillars that make up the overall ranking.

 China ranks best on the fifth (4th place) and fourth (17th place) pillars, which represent Non-Banking Financial Services and Financial Services respectively.

 It ranks worst on the second (47th) and seventh (41st) pillars, which represent Business Environment and Financial Access respectively.

 Its rank is pretty mediocre on the third (20th), sixth (21st) and first (35th) pillars, which represent Financial Stability, Financial Markets and Institutional Environment.

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