客户款项常设授权

Re:  Standing Authority under the Securities and Futures (Client Money) Rules

关于：根据《证券及期货（客户款项）规则》所设立的常设授权                              

This Standing Authority covers money held or received by GSBC in Hong Kong (including any interest derived from the holding of the money which does not belong to GSBC) in one or more segregated account(s) on my/our behalf (the “Client Monies”).

本常设授权涵盖国信香港我(们)在香港收取或持有并存放于一个或多个独立账户内之款项（包括因持有并非属国信香港之款项而产生之任何利息）（下称「客户款项」）。

Unless otherwise defined, all the terms used in this Standing Authority shall have the same meanings as in the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and the Securities and Futures (Client Money) Rules (Cap. 571I of the Laws of Hong Kong) as amended from time to time.

除非另有定义，本常设授权内的所有词语，与《证券及期货条例》（香港法例第571章）及《证券及期货（客户款项）规则》（香港法例第571I章）不时修订之定义具有相同涵义。

This Standing Authority authorizes GSBC, in GSBC’s absolute sole discretion, without having to provide me/us with any prior notice or to obtain the prior confirmation and/or direction from me/us, to deal in the whole or any part of the Client Monies in the following manners:

本常设授权授权国信香港于毋须给予我(们)任何事先通知或取得我(们)的事先确认及／或指示的情况下，按其绝对酌情决定处理全部或部份客户款项作下列用途：

1. to pay/transfer any sum of the Client Monies to any agent broker(s) and/or clearing firm(s) in Hong Kong or overseas and their successors and assigns for the purpose of trading or meeting the settlement or margin requirement (if applicable) of my/our local and my/our overseas securities and/or futures transactions; and/or

将任何数额之客户款项支付／转帐予任何本地及／或海外的经纪商及／或结算公司及其继承人及受让人，以作为我(们)买卖本地及／或海外证券及／或期货交易之用，或履行交收或保证金的要求（如适用）；及／或

2. to transfer any sum of the Client Monies interchangeably between any of the segregated accounts maintained at any time by GSBC, for the purpose of trading or meeting the settlement or margin requirement (if applicable) of my/our local and/or overseas securities and/or futures transactions; and/or

从国信香港于任何时间维持的任何独立账户之间来回调动任何数额之客户款项，以作为我(们)买卖本地及／或海外证券及／或期货交易之用，或履行交收或保证金的要求（如适用）；及／或

3. to enter into foreign exchange contracts necessary (i) to facilitate the purchase, or for meeting the settlement or margin requirement (if applicable) of, the overseas securities and/or futures with the Client Monies, or (ii) convert any or all of the Client Monies in such manner as GSBC shall, in its absolute and sole discretion, consider fit at the time when the conversion of the Client Monies are required for the purpose of payment at the conversion exchange as conclusively determined by GSBC and in accordance with GSBC’s prevailing practice.

订立外币兑换合约，适用于(i)为了以客户款项购买海外证券及／或期货交易；或符合交收或保证金的要求（如适用）之用，或(ii)以支付为目的，于由国信香港最终决定的转换交易所，按国信香港绝对及酌情决定认为合适的方式，及按照其日常惯例转换任何或所有客户款项。

This Standing Authority to GSBC is given without prejudice to other authorities or rights which GSBC may have in relation to dealing in the Client Monies in the segregated accounts.

本常设授权赋予国信香港的授权并不损害国信香港有关处理该等独立账户内客户款项的其他授权或权利。

This Standing Authority is valid for a period of 12 months from the effective date of the Securities Client Agreement entered into between me/us and GSBC. I/We understand that this Standing Authority shall be deemed to be renewed on a continuing basis for another year without my/our written consent if GSBC issues to me/us a written reminder at least 14 days prior to the expiry date of this Standing Authority, and I/we do not object to such deemed renewal before such expiry date.  This Standing Authority may be revoked by me/us at any time by serving GSBC a written notice to that effect.  Such revocation shall not take effect until 5 business days subsequent to the actual receipt by GSBC of such written notice and shall not affect any transactions undertaken by GSBC pursuant to this Standing Authority prior to such revocation taking effect.

本常设授权由我(们)与国信香港订立的证券及／或期货客户协议书生效日起计十二个月内有效。我(们)明白，若国信香港于本常设授权的有效期届满前十四天或以前，向我(们)发出书面通知，提醒我(们)本常设授权即将届满，而我(们)并没有在本常设授权届满前对此授权续期作出反对，则本常设授权应当作在不需要我(们)的书面同意下按持续的基准被续期一年。我(们)可于任何时候以书面通知国信香港以撤销本常设授权。本常设授权将于国信香港收到该书面通知五个工作天后正式撤销。然而在此撤销正式生效前，所有国信香港按本常设授权所达成的任何交易均不受该项撤销所影响。

I/We hereby agree to indemnify, and to keep indemnified, GSBC from and against any losses, liabilities, damages, interests, costs, expenses, actions, demands, claims or proceedings of whatsoever nature which GSBC may incur, suffer and/or sustain as a consequence of any transaction undertaken in pursuance to this Standing Authority.

我(们)谨此同意就任何国信香港因根据本常设授权执行的任何交易而可能产生、蒙受及／或承受的任何损失、责任、损害、利息、成本、开支、法律行动、付款要求、索偿或程序向国信香港作出赔偿。

I/We acknowledge that my/our assets (including the Client Monies) received or held by the licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance and the rules made thereunder.  Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.

我(们)确认，持牌人或注册人在香港以外地方收取或持有我(们)的资产（包括客户款项），是受到有关海外司法管辖区的适用法律及规例所监管的。这些法律及规例与《证券及期货条例》及根据该条例制订的规则可能有所不同。因此，有关客户资产将可能不会享有赋予在香港收取或持有的客户资产的相同保障。

I/We confirm that this Standing Authority has been explained to me/us and I/we fully understand the contents of this Standing Authority and have sought, or have had the opportunity to seek, legal advice concerning its contents and effect.

我(们)确认我(们)就本常设授权的内容已获得解释，并且完全明白本常设授权的内容，并已经或有机会就其内容及效力寻求法律顾问的意见。

In the event of any difference in interpretation or meaning between the English and Chinese version of this Standing Authority, the English verison shall prevail.

如本常设授权中、英文本之解释或意思有任何歧义，概以英文本为准。

I/We hereby agree to all the above authority, terms and conditions.

我(们)谨此同意以上所有授权、条款及细则。