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September 30, 2000
Mr. Xiang Huaicheng 
Minister of Finance 
Ministry of Finance 
Sanlihe 
Beijing 100820 
People’s Republic of China
Dear Sir
Re:  Financial Sector Technical Assistance Project (CR 2423-CHA)
Amendment to the Development Credit Agreement
I refer to the Development Credit Agreement dated December 30, 1992 (as amended 
by the letters of agreement dated April 30, 1996 and November 4, 1996, respectively, 
the Development Credit Agreement) between People’s Republic of China (the Borrower) 
and International Development Association (the Association) for the Financial Sector 
Technical Assistance Project (the Project), and to the Project Agreement of even date 
therewith between the Association and People’s Bank of China (PBC) in regard to the 
Project.  I further refer to the communication dated March 15, 2000 from your Ministry 
on behalf of the Borrower, requesting a supplemental loan from International Bank for 
Reconstruction and Development (the Bank) to help finance Part A of the Project.
I am pleased to inform you that the Association concurs with your request to the 
Bank, and in support of said request, the Association agrees to amend the Development 
Credit Agreement as follows:
1.
The preamble to the Development Credit Agreement shall be modified to read as 
follows: 
“(C) 
The Borrower has requested International Bank for Reconstruction 
and 
Development (the Bank) to provide additional assistance towards financing 
of Part A of the 
Project, and by an agreement dated September 30, 2000, between the 
Borrower and the Bank 
(the Loan Agreement), the Bank has agreed to provide 
such assistance in the aggregate 
principal amount of eight million Dollars 
($8,000,000) (the Loan); 
(D) Part A of the Project will be carried out by People’s Bank of China 
(PBC) with 
the Borrower’s assistance and, as part of such assistance, the Borrower 
will make available 
to PBC a portion of the proceeds of the Credit and all the 
proceeds of said loan as provided 
in this Agreement and in the Loan Agreement; 
and”
2.
Section 1.01 of the Development Credit Agreement shall read as follows:
“Section 1.01. The General Conditions Applicable to Development Credit 
Agreements” of 
the Association dated January 1, 1985 (as amended through October 
6, 1999) (the General 
Conditions) constitute an integral part of this 
Agreement.” 
3.
The Table in paragraph 1 of Schedule 1 to the Development Credit Agreement is 
hereby replaced by the table set forth in the attachment to this letter of amendment. 
4.
Except as specifically amended in accordance with the provisions of paragraphs 
1, 2 and 3 above, all terms and conditions of the Development Credit Agreement 
otherwise remain in full force and effect. 
Please confirm the Borrower’s agreement to the amendments set out above by 
signing the form of confirmation set forth herein below, and returning to us one fully 
executed original of this letter of amendment at your earliest convenience and 
retaining one original for your records.
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5.
This letter of amendment shall enter into effect as of the date hereof upon: (a) 
our receipt of a copy of this letter of amendment duly countersigned by an authorized 
representative of the Borrower and a copy of the letter of amendment to the Project 
Agreement duly countersigned by an authorized representative of PBC; and (b) 
fulfillment of all conditions of effectiveness of the Loan Agreement other than the 
effectiveness of this letter of amendment.
Sincerely,
By /s/ Yukon Huang 
Country Director, China 
East Asia and Pacific Region
ACCEPTED AND AGREED
PEOPLE’S REPUBLIC OF CHINA
By /s/ Zhou Guangyao
       Authorized Representative
Date:
September 30, 2000