POSTAL SAVINGS BANK of CHINA : ARTICLES OF ASSOCIATION OF POSTAL SAVINGS BANK OF CHINA CO., LTD. 2017-08-04

Postal Savings Bank of China Co., Ltd.

中 國 郵 政 儲 蓄 銀 行 股 份 有 限 公 司

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 1658) ARTICLES OF ASSOCIATION OF POSTAL SAVINGS BANK OF CHINA CO., LTD.

(Adopted at the inauguration meeting and the first shareholders' general meeting of Postal Savings Bank of China Co., Ltd. on December 29, 2011; approved by China Banking Regulatory Commission on January 20, 2012; amended by the third extraordinary general meeting of 2013 of Postal Savings Bank of China Co., Ltd. on December 13, 2013; amended by the third extraordinary general meeting of 2014 of Postal Savings Bank of China Co., Ltd. on December 26, 2014; amended by the third extraordinary general meeting of 2015 of Postal Savings Bank of China Co., Ltd. on November 20, 2015; approved by China Banking Regulatory Commission on March 14, 2016; and amended by the annual general meeting of 2015 of Postal Savings Bank of China Co., Ltd. on May 31, 2016; approved by China Banking Regulatory Commission on June 24, 2016; and amended by the annual general meeting of 2016 of Postal Savings Bank of China Co., Ltd. on June 8, 2017; approved by China Banking Regulatory Commission on August 2, 2017.)

Articles of Association of Postal Savings Bank of China Co., Ltd. Contents

CHAPTER I	GENERAL PROVISIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
CHAPTER II	OBJECTIVES AND SCOPE OF BUSINESS . . . . . . . . . . . . . . . . . . .	6
CHAPTER III	SHARES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
Section 1 Share Issue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
Section 2 Increase, Reduction and Repurchase of Shares. . . . . . . . . . .	8
Section 3 Transfer and Pledge of Shares . . . . . . . . . . . . . . . . . . . . . . .	11
CHAPTER IV	FINANCIAL ASSISTANCE FOR ACQUISITION OF THE BANK'S SHARES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	12
CHAPTER V	SHARE CERTIFICATES AND REGISTER OF SHAREHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	14
CHAPTER VI	SHAREHOLDERS AND SHAREHOLDERS' GENERAL MEETINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	17
Section 1 Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	17
Section 2 General Provisions on Shareholders' General Meetings. . . .	23
Section 3 The Convening of Shareholders' General Meetings . . . . . . .	27
Section 4 Proposals and Notice of Shareholders' General Meetings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	29
Section 5 Holding of Shareholders' General Meetings. . . . . . . . . . . . .	31
Section 6 Voting and Resolutions at Shareholders' General Meetings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	34
CHAPTER VII	SPECIAL PROCEDURES FOR VOTING BY CLASS SHAREHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	37
CHAPTER VIII	DIRECTORS AND BOARD OF DIRECTORS . . . . . . . . . . . . . . . . .	39
Section 1 Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	39
Section 2 Independent Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	41
Section 3 Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	46
Section 4 Secretary to the Board of Directors . . . . . . . . . . . . . . . . . . .	59

CHAPTER IX	MEMBERS OF THE SENIOR MANAGEMENT . . . . . . . . . . . . . . .	61
CHAPTER X	SUPERVISORS AND BOARD OF SUPERVISORS . . . . . . . . . . . . .	63
Section 1 Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	63
Section 2 External Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	65
Section 3 Board of Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	67
CHAPTER XI	QUALIFICATIONS AND OBLIGATIONS OF DIRECTORS, SUPERVISORS AND MEMBERS OF THE SENIOR MANAGEMENT AND INCENTIVE AND RESTRAINT MECHANISMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	71
CHAPTER XII	FINANCIAL ACCOUNTING SYSTEM, PROFIT DISTRIBUTION AND AUDIT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	79
Section 1 Financial Accounting System . . . . . . . . . . . . . . . . . . . . . . . .	79
Section 2 Profit Distribution. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	80
Section 3 Internal Audit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	82
CHAPTER XIII	APPOINTMENT OF ACCOUNTING FIRMS . . . . . . . . . . . . . . . . . .	83
CHAPTER XIV	INFORMATION DISCLOSURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	85
CHAPTER XV	NOTICES AND ANNOUNCEMENTS . . . . . . . . . . . . . . . . . . . . . . . .	86
CHAPTER XVI	STAFF MANAGEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	87
CHAPTER XVII	MERGER, DIVISION, DISSOLUTION AND LIQUIDATION . . . .	88
Section 1 Merger and Division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	88
Section 2 Dissolution and Liquidation . . . . . . . . . . . . . . . . . . . . . . . . .	89
CHAPTER XVIII	AMENDMENTS TO THE ARTICLES . . . . . . . . . . . . . . . . . . . . . . . .	91
CHAPTER XIX	DISPUTE RESOLUTION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	92
CHAPTER XX	SPECIAL PROVISIONS ON PREFERENCE SHARES . . . . . . . . . .	93
CHAPTER XXI	SUPPLEMENTAL PROVISIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . .	96

CHAPTER I GENERAL PROVISIONS Article 1 The Articles of Association (the "Articles") are formulated in accordance with the Company Law of the People's Republic of China (the "Company Law"), the Securities Law of the People's Republic of China, the Commercial Banking Law of the People's Republic of China (the "Commercial Banking Law"), the Special Regulations of the State Council on the Overseas Offering and Listing of Shares by Joint Stock Limited Companies, the Mandatory Provisions for the Articles of Association of the Companies to be Listed Overseas, the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules") as well as other applicable laws, administrative regulations and departmental rules for the purposes of protecting the legitimate rights and interests of Postal Savings Bank of China Co., Ltd. (the "Bank"), its shareholders and creditors and to regulate the organization and activities of the Bank.

Article 2 Under the consent of the State Council and upon the approval of the China Banking Regulatory Commission (Yin Jian Fu [2011] No. 634), the Bank was entirely transformed into a joint stock limited company from the original Postal Savings Bank of China Limited ( 中國郵政 儲蓄銀行有限責任公司 ) (established in 2007) and was established by way of promotion. The promoter was China Post Group Corporation ( 中國郵政集團公司 ). The Bank inherited all assets and liabilities of the original Postal Savings Bank of China Limited, and assumed and performed the rights and obligations in relevant legally binding contracts or agreements as well as the corresponding creditor-debtor relationships and legal liabilities of the original Postal Savings Bank of China Limited. The Bank registered the change of registration with the State Administration for Industry and Commerce of the People's Republic of China on 21 January 2012, and obtained its business license. The Bank currently holds a "business license" with a unified social credit code of 91 1100007 1093465XC.

Article 3 Registered name of the Bank:

Full name in Chinese: 中國郵政儲蓄銀行股份有限公司 ; Chinese abbreviation: 中國郵政儲蓄銀行 ;

Full name in English: POSTAL SAVINGS BANK OF CHINA CO., LTD.;

English abbreviation: POSTAL SAVINGS BANK OF CHINA; Acronym: PSBC.

Article 4 Domicile of the Bank: No. 3 Financial Street, Xicheng District, Beijing, the People's Republic of China, Postcode: 100808.

Telephone: [phone]

Fax: [phone]

Article 5 The registered capital of the Bank is RMB81,030,574,000.