On September 26, 2012, CICC Charity Foundation (hereinafter referred to as the “Foundation”), China Development Research Foundation (hereinafter referred to as the “CDRF”) and the government of Guzhang County in Hunan Province entered into a three-way agreement on the Rural Kindergarten Plan.  Pursuant to the agreement, the Foundation will donate RMB1 million to establish 40 rural kindergartens in Guzhang County, a nationally designated poor county, and will be intensively involved in the whole execution process.   CDRF will be responsible to supervise and direct the establishment and operation of rural kindergartens in Guzhang County. The government of Guzhang County will be responsible for execution and implementation.

The Rural Kindergarten Plan is initiated by CDRF and is aimed to implement the policy for the education of pre-schools in western and central rural areas.