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Credo  of  CSCEC   reflects the
                       heritage  and  history  of  CSCEC’s
                       corporate culture and presents our
                       thinking on the importance of excellent
                       management and the common
                       expectations of our employees.

                           Credo of CSCEC provides a path that
                       we must follow, and presents the historical
                       context of our corporate culture; it provides a
                       furnace in which we can forge our culture and analyze
                       diverse, clear and consistent cultural elements; and it acts as a
                       beacon that can guide us, leading us towards common ideals and goals in
                       a healthy and sustainable way.

                           Credo of CSCEC  provides the basic principles and concepts that
                       CSCEC believes in and upholds in its dealing with customers, employees,
                       shareholders, society and other stakeholders. It systematically solves the
                       basic questions that arise during a company’s development process: “What
                       and whom do we exist for? Where are we heading? What principles do
                       we value and adhere to? And what is our mindset?” The Credo of CSCEC
                       is a standard that guides how we act and behave. All member units of
                       the company must consider their own development model, position and
                       direction under CSCEC’s overall development pattern, and employees shall
                       follow rules, improve ourselves and accomplish ourselves in accordance
                       with the criteria of the Credo of CSCEC so that we can facilitate the
                       realization of the Chinese Dream of national rejuvenation together!

                           With faith we can accomplish ourselves, and with faith we can ensure
                       a long-term development.

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