Name of Referee: XXX

Organization: China National Council for Social Security Fund

Position: Director of Legal and Compliance Department

How long have you known the applicant: For more than one year since 2001

When did you last have regular contact with the applicant?

For over one year I have contact with the applicant on a day-to-day basis during the working days.

Describe the capacity in which you know the applicant.

China National Council for Social Security Fund plays an important part in China’s financial market and as director of the Legal and Compliance Department I deem it a pleasure to recommend Ms. Liu Jiang Li. She has impressed me with her praiseworthy work performance, effective coordination and communication, and sound interpersonal relations. Moreover, she is the person fully motivated and full of initiatives.

Is the applicant still with your organization? Yes/No. If not, when did he/she leave?

The applicant is still with our organization and will return to our organization upon completing her program in the UK.

Please detail any personal circumstances which might affect the applicant’s performance on an intensive and demanding program

To my knowledge, there are no personal circumstances which might affect the applicant’s performance on an intensive and demanding program. On the contrary, Ms. Liu is a dynamic young woman. Her energy and devotion can qualify her fully for an intensive and demanding program.

Describe the applicant’s strengths and weaknesses.

As our organization is a newly founded one, Ms. Liu has worked with tremendous enthusiasm and an enterprising spirit. She is responsible for supervising the investment operation of the Social Security Fund capital, submitting supervisory reports, checking the internal control, and exercising risk control. Professionally, Ms. Liu has proven herself very competent, backed up by her strong academic background. Among the 60 employees of the Council, she is very popular with other team members. She has strong affinity and has evolved effective interpersonal strategies. Even though youngest member of the team, she has demonstrated great potential for productive leadership. The most important thing is that, academically, she is very aspiring and motivated to learn new knowledge and acquire advanced training in order to do a better job at our organization.

However, it should be pointed out that Ms. Liu needs to deepen her understanding both of the present conditions of China’s capital market and of the financial systems and financial policies of the advanced countries, especially those in Britain. Her strong academic background needs to be strengthened by international experiences and trainings. Only in this way will it be possible for her to play a more important role at our organization.

Please comment on any task, project or other situation in which the applicant has been involved and which may demonstrate his or her potential as a manager or responsible team member.

The year 2002 was the busiest year for our Council. We had to carry out extensive investigations of all the companies and banks whose business operations were related to Social Security Fund. The surveys featured the internal supervision of the fund companies, risk control, business performance, and teamwork. I appointed Ms. Liu and another employee to assume joint responsibility for the overall coordination of the investigation team. Within one month, she and her colleague led the team to work in close collaboration, contacting various companies and banks, drawing the details of investigations, formulating the timetables, and presenting final reports. As a co-manager and also as a team member, Ms. Liu worked conscientiously and methodically and contributed to the successful completion of the task.

One thing that needs to be emphasized is that Ms. Liu grew up in a nurturing family. Her father, who is a government official, and her mother, who is dead, exerted positive shaping influences on her. She is a person with all-round qualities who has full potential for yet greater personal and career development.