Source: CNBM

Date: April 1,2012

On March 30, Chairman Song Zhiping and Mr. James Gorman, Chairman and CEO of Morgan Stanley held talks. Both sides exchanged views on the current global economic situation, Sino-US economic development and respective development.

Chairman Song Zhiping first of all extended a warm welcome to Mr. James Gorman. He said, China National Building Materials Group (CNBM) and China National Pharmaceutical Group (Sinopharm) have received guidance and help from Morgan Stanley and other excellent investment companies in the process of rapid development in recent years, during which process the two sides have established deep feelings. In addition, Chairman Song Zhiping introduced China's current economic situation of steady and rapid growth, united restructuring and management integration of CNBM, resource integration, state-controlled IPO in Hong Kong, construction of the Sinopharm network by the China Pharmaceutical Group, so that Mr. James Gormancould learn more about China's current economic situation and governance of the contemporary state-owned enterprises.

Mr. James Gormanhighly praised Chairman Song Zhiping for hosting positions as chairman of two groups. He introduced the economic development of the United States, Europe and other emerging economies in detail, and expressed full confidence in the future economic development of the United States and China. In addition, he hoped to continue to provide support and help for the internationalization of CNBM and Sinopharm.