(1) Both parties of the equity transaction sign the Equity Transaction Contract. If the equity transaction involves in the principal qualification review and anti-trust review, the Equity Transaction Contract shall be approved by the relevant authority (for instance the Ministry of Commerce, China Securities Regulatory Commission, China Banking Regulatory Commission and China Insurance Regulatory Commission);

(2) The transferee pays the equity transaction price to the settlement account of CBEX in accordance with the contract;

(3) Both parties of the transaction pay the service fees;

(4) The broker members of both parties take the transaction vouchers from CBEX.