1
2009
2010 3 31 2
...................................................................................................................................2
.........................................................................................................................................2
.................................................................................................................................................2
...............................................................................................................................................4
.................................................................................................................................4
.................................................................................................................................4
.............................................................................................................4
.................................................................................................................................5
.................................................................................................................................5
...............................................................................5
.............................................................................................................5
.................................................................................................................................6
...................................................................................................10
.........................................................................................................................................10
.......................................................................................................10
............................................................... 11
........................................................................... 11
...........................................................12
...........................................................12
...........................................................................12
.......................................................................13
...........................................................................13
.........................................................................................................................................13
...............................................................................13
3
............14
...............................14
.............................................................................................................................................14
........................................................................................................................14
...................................................................................................................14
.....................................................................................................................................15
....................................................................................................................................15
...........................................................................................................................................17
...............................................................................................18
.......................................................................................................................................18
.....................................................................................................................................34
...............................................................................................................34
...............................................................................................35
...........................................35
...........................................................................................35
.......................................................................................35
...............................35
................36
...............................36
.......................................................................................................................36
.........................................................................................................................37
...................................................................................37
...........................................................37
.......................................................................................................................37
...................................................................................................................................38
.........................................................................................................38
.........................................38
.............................................................38
.................................................................................................................38
.....................................................................................39
.....................................................39
.................................................................................39
.............................................................................................................................39
...................................................................................................40
...................................................................................................................................40
4
2009 6 24 653,017,447.54 A B
371020 371120 224,397,242.07 428,620,205.47 8621-38794999 010-66105799 peter.zhu@jpmf-sitico.com custody@icbc.com.cn 400-889-4888 95588 5
021-38794888 8621-68881170 010-66105798 99 20 55 99 20 55 200120 100140 1 A
2,506,602.01 3,621,748.72 0.0104
1.04% 1.20% 1,737,984.67 0.0077
226,996,378.46 6
1.012
1.20% 2 B
3,713,218.49 5,772,379.41 0.0069
0.69% 0.90% 2,408,224.28 0.0056
432,670,710.88 1.009
0.90%
1.
2.
3. 2009 6 24
1 A 0.90% 0.05% -0.25% 0.05% 1.15% 0.00%
1.20% 0.04% -1.45% 0.05% 2.65% -0.01%
- - - - - -
- - - - - -
- - - - - -
1.20% 0.04% -1.58% 0.05% 2.78% -0.01% 7
2 B 0.70% 0.04% -0.25% 0.05% 0.95% -0.01%
0.90% 0.03% -1.45% 0.05% 2.35% -0.02%
- - - - - -
- - - - - -
- - - - - -
0.90% 0.03% -1.58% 0.05% 2.48% -0.02%
1 A
2 B
8
1 2009 6 24 2009 6 24 2009 12 31
2 2009 6 24 2009 12 23
1 A
9
2 B
10
1. 2009 2009 6 24 2009 12 31
2.
2004 5 12
2007 10 8 “ ” 2.5 2009 12 2004 9 15 1,669,305,034.88 2005 4 13 991,360,522.73 2005 10 11 767,620,088.15 2006 04
26 6,435,738,977.50 2006 09 20 5,480,692,618.04 2007 04 13 9,884,799,607.98 2007 10 22 29,572,160,439.53
2008 5 21 1,423,318,139.20 2009 1 21 826,057,598.05 2009 6 24
1,801,237,418.78 A 423,047,194.30 B 1,378,190,224.48
2009-6-24 - 7 2003 2007 11
2007 4 2008 6 2008
11
,
2009
12
2009 GDP
6.2% 7.9% 9.1% 10.7% 8.7%
7 1 1.1% 2.05% 2.70% 3.64%
2009 6
1 13
2
3
4
5
,
2009 2009
14
2009
2009
(2010) 20264
( ) 2009 12
31 2009 6 24 ( )
2009 12 31 ( )
(1)
(2)
(3)
15
2009 12 31 2009 6
24 ( ) 2009 12 31
·
2010 3 30
2009 12 31
16
17
2009 6 24 ( ) 2009 12 31
16,356,994.30
6,962,866.17
9,394,128.13
-
9,394,128.13 18
2009 6 24 ( ) 2009 12 31
2009 6 24 ( )
2009 12 31 1,801,237,418.78 - 1,801,237,418.78
- 9,394,128.13 9,394,128.13
-1,148,219,971.24 -2,744,486.33 -1,150,964,457.57
641,062,501.94 2,330,273.19 643,392,775.13
-1,789,282,473.18 -5,074,759.52 -1,794,357,232.70
- - -
653,017,447.54 6,649,641.80 659,667,089.34
( ) ( ) [2009]361 2009 5 25 2009 6 19 1,800,918,562.24 (2009) 115 19
2009 6 24 1,801,237,418.78 318,856.54
A B A B
( ) 80% 5%
2010 3 30
2006 2 15 38 ( ) [2010]5 XBRL 3 < > 2007 5 15 7.4.4
2009 6 24 ( ) 2009 12 31 2009 12 31 2009 6 24 ( ) 2009 12 31
1 1 12 31 2009 6 24 ( ) 2009 12 31
20
(1)
(2)
(1)
21
(2)
(3)
/( )
22
( ) ( )
(1) (2) (3)
(1)
(2)
[2007]21 < >
23
[2002]128 [2004]78 [2008]1
(1)
(2)
(3) 20%
13,473,238.92
-
-
13,473,238.92
2009 12 31 -- -
158,455,830.48 161,700,750.44
3,244,919.96
409,264,612.33 409,194,000.00
-70,612.33 567,720,442.81 570,894,750.44
3,174,307.63
-- -
-- -
-- -
567,720,442.81 570,894,750.44
3,174,307.63
24
70,612.33
2009 12 31 20,000,000.00 -
--
20,000,000.00 -
2009 12 31 4,349.03
-
-
6,797.12
5,300,255.97
2,795.86
385.44
-
5,314,583.42
2009 12 31 50,411.48
2,449.75
52,861.23
25
2009 12 31 250,000.00
1,501.37
320,000.00
571,501.37
2009 6 24 ( ) 2009 12 31
A
( )
( - )
2009 6 24 ( ) 2009 12 31
B
( )
( - )
1.
2. 2009 5 25 2009 6 19 1,800,918,562.24 318,856.54 318,856.54
3. 2009
6 24 ( ) 2009 7 26 2009 7 27
A
26
B
2009 6 24 ( ) 2009 12 31 631,670.37
-
-
147,354.01
1,880.33
780,904.71
2009 6 24 ( )
2009 12 31 612,576,960.38
595,354,684.71 27
15,775,331.31
1,446,944.36
2009 6 24 ( ) 2009 12 31 2,478,034.82
1,617,093.82
860,941.00
2009 6 24 ( ) 2009 12 31 3,174,307.63
-
3,174,307.63
-
-
-
-
-
3,174,307.63
2009 6 24 ( ) 2009 12 31 120,721.72
33,074.62
20,000.00
173,796.34
1. 25%
2. 25%
28
2009 6 24 ( ) 2009 12 31 106,083.12
5,150.00
111,233.12
2009 6 24 ( ) 2009 12 31 80,000.00
240,000.00
4,500.00
9,332.13
900.00
334,732.13
( )
( )
( )
J.P. Morgan Investment Management Limited ( )
J.P. Morgan Asset Management
(London) Limited
( )
J.P. Morgan 8CS Investments (GP) Limited
(2009 10 27 J.P .Morgan Asset
Management Real Estate Advisers Limited)
( )
29
3,700,109.28 860,385.48 0.6%
X 0.6% /
1,233,369.75 0.2%
X 0.2% /
2009 6 24 ( )
2009 12 31
A B
- 427,965.04 427,965.04
- 442,389.07 442,389.07
-870,354.11870,354.11
1. B
2. B 30
0.35%
B X 0.35% /
30,634,134.66 - - - - -
2009 6 24 ( ) 2009 12 31 13,473,238.92 631,670.37
31
7.4.13.2.1
2009 12 31
A-1 50,201,000.00
32
176,900,000.00
227,101,000.00
7.4.13.2.2
2009 12 31
AAA 1,353.33
AA+ 88,182,023.82
AA 66,223,995.89
AA- 7,293,377.40
182,093,000.00
343,793,750.44
10% 10%
( )
33
2009 12 31 3 3 1 1 5 5
13,473,238.92 - - - - 13,473,238.92
17,654,749.73 - - - - 17,654,749.73
- - - - 250,000.00 250,000.00
- 357,989,000.00 131,289,634.5581,616,115.89
-
570,894,750.44
- - - - 20,000,000.00 20,000,000.00
- - - - 35,993,861.16 35,993,861.16
- - - - 5,314,583.42 5,314,583.42
60,000.00 - - - 601,488.81 661,488.81
31,187,988.65 357,989,000.00 131,289,634.55 81,616,115.89 62,159,933.39 664,242,672.48
- - - - 3,313,234.02 3,313,234.02
- - - - 371,548.96 371,548.96
- - - - 123,849.64 123,849.64
- - - - 140,587.92 140,587.92
- - - - 52,861.23 52,861.23
- - - - 2,000.00 2,000.00
- - - - 571,501.37 571,501.37
- - - - 4,575,583.14 4,575,583.14
31,187,988.65 357,989,000.00 131,289,634.55 81,616,115.89 57,584,350.25 659,667,089.34
34
1. 25 273
2. 25 269
--
--
570,894,750.44 85.95
570,894,750.44 85.95
--
--
20,000,000.00 3.01
--
31,127,988.65 4.69
42,219,933.39 6.36
664,242,672.48 100.00 35
- -
176,900,000.00 26.82
182,093,000.00 27.60
182,093,000.00 27.60
136,479,671.92 20.69
50,201,000.00 7.61
25,221,078.52 3.82
- -
570,894,750.44 86.54
1 0901036 09 36 900,000 88,461,000.00 13.41
2 080416 08 16 500,000 51,205,000.00 7.76
3 050413 05 13 500,000 50,270,000.00 7.62
4 0901040 09 40 500,000 49,135,000.00 7.45
5 070415 07 15 300,000 30,396,000.00 4.61 36
250,000.00
35,993,861.16
-
5,314,583.42
661,488.81
-
-
-
42,219,933.39
1 110003
1,174,933.20 0.18
2 125960
1,353.33 0.00
37
( )
A 3,953 56,766.31
24,984,883.5011.13%199,412,358.57 88.87%
B 6,452 66,432.15
89,435,725.9420.87%339,184,479.53 79.13%
10,405 62,759.97
114,420,609.44 17.52% 538,596,838.10 82.48%
A --
B --
--
423,047,194.30
1,378,190,224.48
279,336,741.72
361,725,760.22
477,986,693.95
1,311,295,779.23
38
--
224,397,242.07
428,620,205.47
2009 2 28
2009 5 20
2009 10 31
39
80,000
1
63,326,251.85 75.45% 29,538,300,000.00 100.00%
1
20,601,241.07 24.55% - -
2
83,927,492.92 100.00%
29,538,300,000.00 100.00%
2,478,034.82 100.00% 52,328.77 50.00%
- -52,328.7750.00%
2,478,034.82 100.00%
104,657.54 100.00%
10 2009 6 24 52,328.77
1.
2009 5 23
40
2.
2009 6 25
3.
2009 7 23
4.
2009 10 31
