Guo Qiang Zhang

China Merchants Fund Management Co., Ltd. (CMFM) is a Chinese fund management firm which was founded in 2002 as a joint venture between China Merchants Securities Co., Ltd. (45 percent) and China Merchants Bank Co., Ltd. (55 percent). Headquartered in Shenzhen with branch offices in Beijing, Shanghai and Chengdu, the firm was the first joint venture established between a domestic asset manager and a foreign firm in China. CMFM manages a diverse range of funds including the AnTai umbrella fund for institutions and private individuals. They also manage part of the national social security fund as well as pension funds for the government.

CITIC Fund Management Co. Ltd. (CFM) is the fund management arm and a wholly-owned subsidiary of CITIC Securities Co. Ltd., which is among China's leading brokerage firms. Established in 2003, CFM was originally set up jointly by CITIC Securities (SHG: 600030), State Development & Investment Corp., Shanghai Jiushi Corp. and Zhonghai Trust & Investment Co., Ltd. The firm is located in Beijing. CFM provides investment advisory and financial services. They manage mutual funds. Their clientele includes domestic retail investors and international institutions. In 2009 the firm was absorbed by China Asset Management.