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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIC Limited</name>
        <lei>2549006I3Q3M98KHOT11</lei>
        <title>CITIC LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0267001375"/>
        </identifiers>
        <balance>12780.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>13372.10000000</valUSD>
        <pctVal>0.189430045958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Beijing Co., Ltd.</name>
        <lei>300300C1080211000042</lei>
        <title>BANK OF BEIJING CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000734"/>
        </identifiers>
        <balance>23400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15945.09000000</valUSD>
        <pctVal>0.225879191115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANXIN TRUST CO.,LTD</name>
        <lei>300300D1005631000064</lei>
        <title>ANXIN TRUST CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000003P4"/>
        </identifiers>
        <balance>9567.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>3374.27000000</valUSD>
        <pctVal>0.047800130209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVIC SHENYANG AIRCRAFT COMPANY LIMITED</name>
        <lei>N/A</lei>
        <title>AVIC SHENYANG AIRCRAFT CO -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000MH6"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7674.30000000</valUSD>
        <pctVal>0.108714637319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KWG Group Holdings Limited</name>
        <lei>549300LK82ZOM9ZE7H90</lei>
        <title>KWG GROUP HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG532241042"/>
        </identifiers>
        <balance>6773.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9629.65000000</valUSD>
        <pctVal>0.136414253712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGRICULTURAL BANK OF CHINA LIMITED</name>
        <lei>549300E7TSGLCOVSY746</lei>
        <title>AGRICULTURAL BANK OF CHINA-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000Q43"/>
        </identifiers>
        <balance>84397.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>33863.77000000</valUSD>
        <pctVal>0.479716387660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHEJIANG SANHUA INTELLIGENT CONTROLS CO.,LTD.</name>
        <lei>N/A</lei>
        <title>ZHEJIANG SANHUA INTELLIGEN-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001M22"/>
        </identifiers>
        <balance>6240.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14147.00000000</valUSD>
        <pctVal>0.200407330200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ningbo Zhoushan Port Company Limited</name>
        <lei>N/A</lei>
        <title>NINGBO ZHOUSHAN PORT CO LT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000V12"/>
        </identifiers>
        <balance>6500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>3255.41000000</valUSD>
        <pctVal>0.046116351651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUAZHU GROUP LIMITED</name>
        <lei>549300Y5ML31FVN83730</lei>
        <title>HUAZHU GROUP LTD-ADR DEPOSITARY RECEIPT</title>
        <cusip>44332N106</cusip>
        <identifiers>
          <isin value="US44332N1063"/>
        </identifiers>
        <balance>411.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11808.03000000</valUSD>
        <pctVal>0.167273327718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genscript Biotech Corp</name>
        <lei>529900YIYUOJOXSAE372</lei>
        <title>GENSCRIPT BIOTECH CORP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3825B1059"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>16204.57000000</valUSD>
        <pctVal>0.229555001820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou R&amp;F Properties Co., Ltd.</name>
        <lei>529900ICJ8CK8LFWH863</lei>
        <title>GUANGZHOU R&amp;F PROPERTIES - H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000569"/>
        </identifiers>
        <balance>5200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6789.41000000</valUSD>
        <pctVal>0.096179227520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA TELECOM CORPORATION LIMITED</name>
        <lei>529900JXXCCUCX634T88</lei>
        <title>CHINA TELECOM CORP LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002V2"/>
        </identifiers>
        <balance>36000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10914.86000000</valUSD>
        <pctVal>0.154620622896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai Fosun Pharmaceutical (Group) Co., Ltd.</name>
        <lei>300300DMUYLW3FP1OT73</lei>
        <title>SHANGHAI FOSUN PHARMACEUTI-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000X38"/>
        </identifiers>
        <balance>3100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14371.21000000</valUSD>
        <pctVal>0.203583503771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Jiangsu Co., Ltd.</name>
        <lei>300300C1086832000046</lei>
        <title>BANK OF JIANGSU CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002G76"/>
        </identifiers>
        <balance>18700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15855.51000000</valUSD>
        <pctVal>0.224610194957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVIC Aircraft Co., Ltd.</name>
        <lei>N/A</lei>
        <title>AVIC AIRCRAFT CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000RF9"/>
        </identifiers>
        <balance>4300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9621.34000000</valUSD>
        <pctVal>0.136296533706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Luzhou Laojiao CO.,LTD</name>
        <lei>N/A</lei>
        <title>LUZHOU LAOJIAO CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000GF2"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18702.91000000</valUSD>
        <pctVal>0.264946650179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Shenhua Energy Company Limited</name>
        <lei>529900N9JOX4C108MA40</lei>
        <title>CHINA SHENHUA ENERGY CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002R0"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>17138.65000000</valUSD>
        <pctVal>0.242787240386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou Baiyun International Airport Company Limited</name>
        <lei>N/A</lei>
        <title>GUANGZHOU BAIYUN INTERNATI-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001DX0"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10623.29000000</valUSD>
        <pctVal>0.150490223146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MENGNIU DAIRY COMPANY LIMITED</name>
        <lei>2549005Q343BSJ8RSS21</lei>
        <title>CHINA MENGNIU DAIRY CO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG210961051"/>
        </identifiers>
        <balance>7000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>24339.11000000</valUSD>
        <pctVal>0.344789429176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JD.COM, INC.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
        </identifiers>
        <balance>3517.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142438.50000000</valUSD>
        <pctVal>2.017793136550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chongqing Changan Automobile Company Limited</name>
        <lei>N/A</lei>
        <title>CHONGQING CHANGAN AUTOMOB-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000R36"/>
        </identifiers>
        <balance>12700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18956.29000000</valUSD>
        <pctVal>0.268536047883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ping An Insurance (Group) Company of China, Ltd.</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>PING AN INSURANCE GROUP CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001R84"/>
        </identifiers>
        <balance>7200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>70261.00000000</valUSD>
        <pctVal>0.995321935903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tencent Music Entertainment Group</name>
        <lei>213800XTZK2GOHQTYK41</lei>
        <title>TENCENT MUSIC ENTERTAINM-ADR DEPOSITARY RECEIPT</title>
        <cusip>88034P109</cusip>
        <identifiers>
          <isin value="US88034P1093"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10060.00000000</valUSD>
        <pctVal>0.142510620047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Expressway Company Limited</name>
        <lei>529900UWWTWZ6AKLYD43</lei>
        <title>JIANGSU EXPRESS CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000003J5"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>13391.99000000</valUSD>
        <pctVal>0.189711809003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SICHUAN CHUANTOU ENERGY CO., LTD.</name>
        <lei>300300WW1VOIP39YTJ43</lei>
        <title>SICHUAN CHUANTOU ENERGY CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000BQ0"/>
        </identifiers>
        <balance>10900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14147.46000000</valUSD>
        <pctVal>0.200413846590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The People's Insurance Company (Group) of China Limited</name>
        <lei>3003000P2JHYHQ524P66</lei>
        <title>PEOPLE'S INSURANCE CO GROU-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001MK7"/>
        </identifiers>
        <balance>19452.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6424.69000000</valUSD>
        <pctVal>0.091012580071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW CHINA LIFE INSURANCE COMPANY LTD.</name>
        <lei>529900QCDGPLPB62KH67</lei>
        <title>NEW CHINA LIFE INSURANCE C-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001922"/>
        </identifiers>
        <balance>3700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>11528.34000000</valUSD>
        <pctVal>0.163311220827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LIMITED</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING-SP ADR DEPOSITARY RECEIPT</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
        </identifiers>
        <balance>3858.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>750303.84000000</valUSD>
        <pctVal>10.62885342572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangdong Haid Group Co., Limited</name>
        <lei>N/A</lei>
        <title>GUANGDONG HAID GROUP CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HP8"/>
        </identifiers>
        <balance>3700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>20984.17000000</valUSD>
        <pctVal>0.297263129015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSCO SHIPPING Holdings Co., Ltd.</name>
        <lei>3003009XI0QGYYA29S17</lei>
        <title>COSCO SHIPPING HOLDINGS CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000601"/>
        </identifiers>
        <balance>22800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13220.28000000</valUSD>
        <pctVal>0.187279353877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHENZHEN INTERNATIONAL HOLDINGS LIMITED</name>
        <lei>5493002NKD14ZZMEJF98</lei>
        <title>SHENZHEN INTL HOLDINGS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG8086V1467"/>
        </identifiers>
        <balance>7016.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12853.63000000</valUSD>
        <pctVal>0.182085365921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUANENG POWER INTERNATIONAL, INC.</name>
        <lei>529900WU0SMVKMPG4V21</lei>
        <title>HUANENG POWER INTL INC-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000006Z4"/>
        </identifiers>
        <balance>13077.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>4909.63000000</valUSD>
        <pctVal>0.069550140706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HBIS COMPANY LIMITED</name>
        <lei>N/A</lei>
        <title>HESTEEL CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000H20"/>
        </identifiers>
        <balance>26400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7933.18000000</valUSD>
        <pctVal>0.112381948384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Resources Power Holdings Company Limited</name>
        <lei>529900K60FC0AI053735</lei>
        <title>CHINA RESOURCES POWER HOLDIN COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0836012952"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>11018.08000000</valUSD>
        <pctVal>0.156082844188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FOSUN INTERNATIONAL LIMITED</name>
        <lei>213800Z99WQEXDF82F09</lei>
        <title>FOSUN INTERNATIONAL LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0656038673"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10403.95000000</valUSD>
        <pctVal>0.147383038314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Everbright Securities Company Limited</name>
        <lei>300300631H57L451WO11</lei>
        <title>EVERBRIGHT SECURITIE CO -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000FD8"/>
        </identifiers>
        <balance>8400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13047.60000000</valUSD>
        <pctVal>0.184833157667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Northern Rare Earth (Group) High-Tech Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHINA NORTHERN RARE EARTH -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000T18"/>
        </identifiers>
        <balance>8500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10780.59000000</valUSD>
        <pctVal>0.152718545266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Ningbo Co., Ltd</name>
        <lei>300300C1092133000091</lei>
        <title>BANK OF NINGBO CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000005P7"/>
        </identifiers>
        <balance>5500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>17893.12000000</valUSD>
        <pctVal>0.253475111907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBMG Corporation</name>
        <lei>529900T6R2GKVJ9Y2J16</lei>
        <title>BBMG CORPORATION-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000010M4"/>
        </identifiers>
        <balance>23400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10828.14000000</valUSD>
        <pctVal>0.153392141686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANTA SPORTS PRODUCTS LIMITED</name>
        <lei>529900291XG0CTK4LF95</lei>
        <title>ANTA SPORTS PRODUCTS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG040111059"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>22042.60000000</valUSD>
        <pctVal>0.312256917839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Angang Steel Company Limited</name>
        <lei>213800QMMVMR3ABCKL62</lei>
        <title>ANGANG STEEL CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000SQ4"/>
        </identifiers>
        <balance>19470.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7388.94000000</valUSD>
        <pctVal>0.104672208836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BYD COMPANY LIMITED</name>
        <lei>5299005557VL7ULJ7A69</lei>
        <title>BYD CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000296"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15675.60000000</valUSD>
        <pctVal>0.222061578093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSPC PHARMACEUTICAL GROUP LIMITED</name>
        <lei>529900M3XQCW234H8O91</lei>
        <title>CSPC PHARMACEUTICAL GROUP LT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK1093012172"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>24028.18000000</valUSD>
        <pctVal>0.340384774395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANHUI GUJING DISTILLERY COMPANY LIMITED</name>
        <lei>N/A</lei>
        <title>ANHUI GUJING DISTILLERY CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000MD5"/>
        </identifiers>
        <balance>700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11280.86000000</valUSD>
        <pctVal>0.159805402909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAIDU, INC.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC - SPON ADR DEPOSITARY RECEIPT</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
        </identifiers>
        <balance>720.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72568.80000000</valUSD>
        <pctVal>1.028014382120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MERCHANTS SECURITIES CO.,LTD</name>
        <lei>30030060IEIMX476KH87</lei>
        <title>CHINA MERCHANTS SECURITIES-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HK9"/>
        </identifiers>
        <balance>7800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18839.20000000</valUSD>
        <pctVal>0.266877343261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shaanxi Coal Industry Company Limited</name>
        <lei>N/A</lei>
        <title>SHAANXI COAL INDUSTRY CO L-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001T64"/>
        </identifiers>
        <balance>9600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10130.64000000</valUSD>
        <pctVal>0.143511310922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL SECURITIES CO., LTD.</name>
        <lei>300300E1011435000093</lei>
        <title>INDUSTRIAL SECURITIES CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000V95"/>
        </identifiers>
        <balance>22169.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>19547.45000000</valUSD>
        <pctVal>0.276910459230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINGSOFT CORPORATION LIMITED</name>
        <lei>529900UVT35D3Q7YQY41</lei>
        <title>KINGSOFT CORP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5264Y1089"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>19584.82000000</valUSD>
        <pctVal>0.277439845102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUADONG MEDICINE CO .,LTD</name>
        <lei>N/A</lei>
        <title>HUADONG MEDICINE CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000011S1"/>
        </identifiers>
        <balance>2280.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>5612.99000000</valUSD>
        <pctVal>0.079513984614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BYD COMPANY LIMITED</name>
        <lei>5299005557VL7ULJ7A69</lei>
        <title>BYD CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001526"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16075.03000000</valUSD>
        <pctVal>0.227719929680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhengzhou Yutong Bus Co., Ltd.</name>
        <lei>300300OMPRVW0Q75F037</lei>
        <title>ZHENGZHOU YUTONG BUS CO -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000PY4"/>
        </identifiers>
        <balance>5444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10514.43000000</valUSD>
        <pctVal>0.148948105243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA EVERGRANDE GROUP</name>
        <lei>549300CUF7B1LAB15T90</lei>
        <title>CHINA EVERGRANDE GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2119W1069"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9954.97000000</valUSD>
        <pctVal>0.141022758176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETEASE, INC.</name>
        <lei>5299004AF4DSJDB0PA32</lei>
        <title>NETEASE INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>64110W102</cusip>
        <identifiers>
          <isin value="US64110W1027"/>
        </identifiers>
        <balance>259.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83128.64000000</valUSD>
        <pctVal>1.177605768403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhuzhou CRRC Times Electric Co., Ltd.</name>
        <lei>529900PLNH7NQLN00B53</lei>
        <title>ZHUZHOU CRRC TIMES ELECTRI-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004X4"/>
        </identifiers>
        <balance>2400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>7106.27000000</valUSD>
        <pctVal>0.100667887070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>3SBIO INC.</name>
        <lei>529900P0TQC1E9Y7FN31</lei>
        <title>3SBIO INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8875G1029"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6247.02000000</valUSD>
        <pctVal>0.088495695194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suofeiya Home Collection Co Ltd</name>
        <lei>N/A</lei>
        <title>SUOFEIYA HOME COLLECTION C-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001203"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>6341.53000000</valUSD>
        <pctVal>0.089834530054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xinhu Zhongbao Co., Ltd.</name>
        <lei>N/A</lei>
        <title>XINHU ZHONGBAO CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000ZH8"/>
        </identifiers>
        <balance>25300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10779.32000000</valUSD>
        <pctVal>0.152700554363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wuxi Biologics Cayman Inc</name>
        <lei>5493001TD2TH6VDTJU11</lei>
        <title>WUXI BIOLOGICS CAYMAN INC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG970081090"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>32415.59000000</valUSD>
        <pctVal>0.459201374763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Shanghai Co., Ltd.</name>
        <lei>300300C1091231000098</lei>
        <title>BANK OF SHANGHAI CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002FM5"/>
        </identifiers>
        <balance>15704.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18255.83000000</valUSD>
        <pctVal>0.258613285565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Muyuan Foods Co.,Ltd</name>
        <lei>3003006NCTDQW4KZR676</lei>
        <title>MUYUAN FOODSTUFF CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001RQ3"/>
        </identifiers>
        <balance>2900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>49999.86000000</valUSD>
        <pctVal>0.708301297307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA PACIFIC INSURANCE (GROUP) CO., LTD.</name>
        <lei>529900BA5ILEL308WX03</lei>
        <title>CHINA PACIFIC INSURANCE GR-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000009Q7"/>
        </identifiers>
        <balance>8600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>26018.91000000</valUSD>
        <pctVal>0.368585586190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ping An Bank Co., Ltd.</name>
        <lei>549300W9MKNIVWXFM679</lei>
        <title>PING AN BANK CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000040"/>
        </identifiers>
        <balance>16891.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>30502.07000000</valUSD>
        <pctVal>0.432094324895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINDUODUO INC.</name>
        <lei>N/A</lei>
        <title>PINDUODUO INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>722304102</cusip>
        <identifiers>
          <isin value="US7223041028"/>
        </identifiers>
        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18015.00000000</valUSD>
        <pctVal>0.255201671984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai International Port (Group) Co., Ltd.</name>
        <lei>300300DAQ7G1LS22G609</lei>
        <title>SHANGHAI INTERNATIONAL POR-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000013N8"/>
        </identifiers>
        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>6825.99000000</valUSD>
        <pctVal>0.096697422200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IQIYI, INC.</name>
        <lei>222100XL8T2Q5B8MS302</lei>
        <title>IQIYI INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>46267X108</cusip>
        <identifiers>
          <isin value="US46267X1081"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17800.00000000</valUSD>
        <pctVal>0.252155967878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DONGFENG MOTOR GROUP COMPANY LIMITED</name>
        <lei>N/A</lei>
        <title>DONGFENG MOTOR GRP CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000312"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>7911.34000000</valUSD>
        <pctVal>0.112072561511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AECC AVIATION POWER CO,LTD</name>
        <lei>N/A</lei>
        <title>AECC AVIATION POWER CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000JW1"/>
        </identifiers>
        <balance>3100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9271.75000000</valUSD>
        <pctVal>0.131344218829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zijin Mining Group Company Limited</name>
        <lei>300300C5004435000064</lei>
        <title>ZIJIN MINING GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000B24"/>
        </identifiers>
        <balance>15100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7860.81000000</valUSD>
        <pctVal>0.111356750216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NANJING CO., LTD.</name>
        <lei>300300C1086932000062</lei>
        <title>BANK OF NANJING CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000627"/>
        </identifiers>
        <balance>12100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12376.20000000</valUSD>
        <pctVal>0.175322061216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUNTRY GARDEN HOLDINGS COMPANY LIMITED</name>
        <lei>549300MGHLPT1EFHGF84</lei>
        <title>COUNTRY GARDEN HOLDINGS CO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG245241032"/>
        </identifiers>
        <balance>25612.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>30995.18000000</valUSD>
        <pctVal>0.439079753508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANHUI CONCH CEMENT COMPANY LIMITED</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>ANHUI CONCH CEMENT CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000019V8"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>23320.45000000</valUSD>
        <pctVal>0.330359024781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFILM Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>OFILM GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000S33"/>
        </identifiers>
        <balance>5382.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10356.72000000</valUSD>
        <pctVal>0.146713975036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dong-E-E-Jiao Co., Ltd.</name>
        <lei>N/A</lei>
        <title>DONG-E-E-JIAOCO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000006Y9"/>
        </identifiers>
        <balance>2400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8715.33000000</valUSD>
        <pctVal>0.123461936602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LENOVO GROUP LIMITED</name>
        <lei>254900VUZRGD5U73RE46</lei>
        <title>LENOVO GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0992009065"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>7513.97000000</valUSD>
        <pctVal>0.106443392020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA OVERSEAS LAND &amp; INVESTMENT LTD.</name>
        <lei>529900I6W35GYKRIZ151</lei>
        <title>CHINA OVERSEAS LAND &amp; INVEST COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0688002218"/>
        </identifiers>
        <balance>12839.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>39837.69000000</valUSD>
        <pctVal>0.564343330335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED</name>
        <lei>3003004QIVP0DFVVWM94</lei>
        <title>SUNNY OPTICAL TECH COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8586D1097"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>25591.87000000</valUSD>
        <pctVal>0.362536109531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beijing Capital International Airport Company Limited</name>
        <lei>5299001QWQN7CK66FE04</lei>
        <title>BEIJING CAPITAL INTL AIRPO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000221"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6373.45000000</valUSD>
        <pctVal>0.090286710869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China National Building Material Company Limited</name>
        <lei>52990085PGF8YEPLBZ26</lei>
        <title>CHINA NATIONAL BUILDING MA-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002N9"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15298.87000000</valUSD>
        <pctVal>0.216724796196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Henan Shuanghui Investment &amp; Development Co., Ltd.</name>
        <lei>N/A</lei>
        <title>HENAN SHUANGHUI INVESTMENT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000XM3"/>
        </identifiers>
        <balance>3700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>20514.38000000</valUSD>
        <pctVal>0.290608053051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai International Airport Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SHANGHAI INTERNATIONAL AIR-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000V89"/>
        </identifiers>
        <balance>1200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10294.86000000</valUSD>
        <pctVal>0.145837662217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kweichow Moutai Co., Ltd.</name>
        <lei>N/A</lei>
        <title>KWEICHOW MOUTAI CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000018R8"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>156739.37000000</valUSD>
        <pctVal>2.220380199266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China National Nuclear Power Co., Ltd</name>
        <lei>300300C5011511000005</lei>
        <title>CHINA NATIONAL NUCLEAR POW-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000022N7"/>
        </identifiers>
        <balance>19300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11980.47000000</valUSD>
        <pctVal>0.169716124072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIPSHOP HOLDINGS LIMITED</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>VIPSHOP HOLDINGS LTD - ADR DEPOSITARY RECEIPT</title>
        <cusip>92763W103</cusip>
        <identifiers>
          <isin value="US92763W1036"/>
        </identifiers>
        <balance>1543.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24039.94000000</valUSD>
        <pctVal>0.340551367327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HANERGY THIN FILM POWER GROUP LTD</name>
        <lei>N/A</lei>
        <title>HANERGY THIN FILM POWER GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG4288J1062"/>
        </identifiers>
        <balance>4364.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOAH HOLDINGS LIMITED</name>
        <lei>3003008QW3IHPD3NTU41</lei>
        <title>NOAH HOLDINGS LTD-SPON ADS DEPOSITARY RECEIPT</title>
        <cusip>65487X102</cusip>
        <identifiers>
          <isin value="US65487X1028"/>
        </identifiers>
        <balance>371.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9594.06000000</valUSD>
        <pctVal>0.135910083437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF HANGZHOU CO., LTD.</name>
        <lei>300300C1092033000075</lei>
        <title>BANK OF HANGZHOU CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002GQ4"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12492.59000000</valUSD>
        <pctVal>0.176970849592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metallurgical Corporation of China Ltd.</name>
        <lei>3003002HS6H57JTIFW38</lei>
        <title>METALLURGICAL CORP OF CHIN-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000FX6"/>
        </identifiers>
        <balance>34200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12641.29000000</valUSD>
        <pctVal>0.179077343549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHEJIANG DAHUA TECHNOLOGY CO., LTD.</name>
        <lei>N/A</lei>
        <title>ZHEJIANG DAHUA TECHNOLOGY-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000BJ4"/>
        </identifiers>
        <balance>4200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9581.28000000</valUSD>
        <pctVal>0.135729041118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUALAN BIOLOGICAL ENGINEERING, INC.</name>
        <lei>N/A</lei>
        <title>HUALAN BIOLOGICAL ENGINEER-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001JN8"/>
        </identifiers>
        <balance>3600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>24337.91000000</valUSD>
        <pctVal>0.344772429897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Grand Automotive Services Group Co., Ltd.</name>
        <lei>300300I3R5PWMED71U16</lei>
        <title>CHINA GRAND AUTOMOTIVE SER-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001576"/>
        </identifiers>
        <balance>10200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>5856.78000000</valUSD>
        <pctVal>0.082967529749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hope Liuhe Co., Ltd.</name>
        <lei>300300F28XODWP5GJF78</lei>
        <title>NEW HOPE LIUHE CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000VB0"/>
        </identifiers>
        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>47888.60000000</valUSD>
        <pctVal>0.678393049625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUYAO GLASS INDUSTRY GROUP CO.,LTD.</name>
        <lei>549300AS5CSLWETN0P64</lei>
        <title>FUYAO GLASS INDUSTRY GROUP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000230"/>
        </identifiers>
        <balance>6600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>17858.98000000</valUSD>
        <pctVal>0.252991482427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAIC MOTOR Corporation Limited</name>
        <lei>5299003EYHISIDNLZQ19</lei>
        <title>BAIC MOTOR CORP LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001TJ4"/>
        </identifiers>
        <balance>9500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>3775.05000000</valUSD>
        <pctVal>0.053477605985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haier Smart Home Co., Ltd.</name>
        <lei>3003002BYTNGNJTWSH07</lei>
        <title>HAIER SMART HOME CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000CG9"/>
        </identifiers>
        <balance>6700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13611.35000000</valUSD>
        <pctVal>0.192819277156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baoshan Iron &amp; Steel Co.,Ltd.</name>
        <lei>N/A</lei>
        <title>BAOSHAN IRON &amp; STEEL CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000015R4"/>
        </identifiers>
        <balance>15100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10374.57000000</valUSD>
        <pctVal>0.146966839307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHEJIANG HUAYOU COBALT CO., LTD</name>
        <lei>30030099QFLNMEGP7M05</lei>
        <title>ZHEJIANG HUAYOU COBALT CO -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001VW3"/>
        </identifiers>
        <balance>780.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>3236.34000000</valUSD>
        <pctVal>0.045846204779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED</name>
        <lei>529900B4W41TCUKJFM73</lei>
        <title>SHENZHOU INTERNATIONAL GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8087W1015"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>31893.07000000</valUSD>
        <pctVal>0.451799322160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hubei Energy Group Co., Ltd.</name>
        <lei>300300X7OMGIUK3FRJ72</lei>
        <title>HUBEI ENERGY GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000750"/>
        </identifiers>
        <balance>21100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10537.80000000</valUSD>
        <pctVal>0.149279166196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Communications Co., Ltd.</name>
        <lei>549300AX1UM10U30HK09</lei>
        <title>BANK OF COMMUNICATIONS CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000205"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>3064.16000000</valUSD>
        <pctVal>0.043407091602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA GAS HOLDINGS LIMITED</name>
        <lei>254900KTSZLZ21VV8T33</lei>
        <title>CHINA GAS HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG2109G1033"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>17417.33000000</valUSD>
        <pctVal>0.246735039550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIMAO PROPERTY HOLDINGS LIMITED</name>
        <lei>254900WTJ6B5CU69ZD26</lei>
        <title>SHIMAO PROPERTY HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG810431042"/>
        </identifiers>
        <balance>3500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12327.60000000</valUSD>
        <pctVal>0.174633590427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA EVERBRIGHT BANK COMPANY LIMITED</name>
        <lei>549300U6PKQ4H1P34E17</lei>
        <title>CHINA EVERBRIGHT BANK CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000SL4"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>22918.37000000</valUSD>
        <pctVal>0.324663133120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSCO SHIPPING Development Company Limited</name>
        <lei>529900CWRQN9ME25NV73</lei>
        <title>COSCO SHIPPING DEVELOPME-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000008F2"/>
        </identifiers>
        <balance>49200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14090.46000000</valUSD>
        <pctVal>0.199606380850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUAYU Automotive Systems Company Limited</name>
        <lei>N/A</lei>
        <title>HUAYU AUTOMOTIVE SYSTEMS -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000M15"/>
        </identifiers>
        <balance>3700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11243.76000000</valUSD>
        <pctVal>0.159279841875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MINSHENG BANKING CORP., LTD.</name>
        <lei>549300HBUGSQD1VCXG94</lei>
        <title>CHINA MINSHENG BANKING-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000015Y0"/>
        </identifiers>
        <balance>22800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18366.86000000</valUSD>
        <pctVal>0.260186143830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED</name>
        <lei>5299005WPCSQN14NBM26</lei>
        <title>BRILLIANCE CHINA AUTOMOTIVE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG1368B1028"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>11523.82000000</valUSD>
        <pctVal>0.163247190210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Yangtze Power Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHINA YANGTZE POWER CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001G87"/>
        </identifiers>
        <balance>9600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>23416.95000000</valUSD>
        <pctVal>0.331726050112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEIJING ENTERPRISES WATER GROUP LIMITED</name>
        <lei>529900TWUN2ALJKWRR11</lei>
        <title>BEIJING ENTERPRISES WATER GR COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG0957L1090"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9382.14000000</valUSD>
        <pctVal>0.132908010812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA FORTUNE LAND DEVELOPMENT CO., LTD.</name>
        <lei>N/A</lei>
        <title>CHINA FORTUNE LAND DEVELOP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001GG8"/>
        </identifiers>
        <balance>3600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10609.75000000</valUSD>
        <pctVal>0.150298414617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GANFENG LITHIUM CO., LTD.</name>
        <lei>3003006BE6UOHWEOOR42</lei>
        <title>GANFENG LITHIUM CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000SF6"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10221.21000000</valUSD>
        <pctVal>0.144794331485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCES CEMENT HOLDINGS LIMITED</name>
        <lei>529900E0EOYXYJ0GHY66</lei>
        <title>CHINA RESOURCES CEMENT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2113L1068"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>14320.92000000</valUSD>
        <pctVal>0.202871092331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINA CORPORATION</name>
        <lei>549300ICDICMKPZEUY61</lei>
        <title>SINA CORP COMMON STOCK</title>
        <cusip>G81477104</cusip>
        <identifiers>
          <isin value="KYG814771047"/>
        </identifiers>
        <balance>240.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7641.60000000</valUSD>
        <pctVal>0.108251406973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unigroup Guoxin Microelectronics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>UNIGROUP GUOXIN MICROELECT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001M14"/>
        </identifiers>
        <balance>1300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9151.83000000</valUSD>
        <pctVal>0.129645424241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PetroChina Company Limited</name>
        <lei>529900RPY4YG47TRSV05</lei>
        <title>PETROCHINA CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000007Q1"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7495.56000000</valUSD>
        <pctVal>0.106182594752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zoomlion Heavy Industry Science And Technology Co., Ltd</name>
        <lei>529900QZ3EMAU0QKFK85</lei>
        <title>ZOOMLION HEAVY INDUSTRY S-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001527"/>
        </identifiers>
        <balance>13700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10997.57000000</valUSD>
        <pctVal>0.155792298182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WANT WANT CHINA HOLDINGS LIMITED</name>
        <lei>5299005HZCEKX4O1J230</lei>
        <title>WANT WANT CHINA HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9431R1039"/>
        </identifiers>
        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>13051.39000000</valUSD>
        <pctVal>0.184886847056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF CHINA LIMITED</name>
        <lei>54930053HGCFWVHYZX42</lei>
        <title>BANK OF CHINA LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001Z5"/>
        </identifiers>
        <balance>175396.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>67208.47000000</valUSD>
        <pctVal>0.952079595643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GDS HOLDINGS LIMITED</name>
        <lei>391200MGV8DDCHTN2R77</lei>
        <title>GDS HOLDINGS LTD - ADR DEPOSITARY RECEIPT</title>
        <cusip>36165L108</cusip>
        <identifiers>
          <isin value="US36165L1089"/>
        </identifiers>
        <balance>233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13507.01000000</valUSD>
        <pctVal>0.191341189870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Art Retail Group Ltd.</name>
        <lei>3003009IMRZ363PQCP28</lei>
        <title>SUN ART RETAIL GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000083920"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>13353.29000000</valUSD>
        <pctVal>0.189163582264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suzhou Gold Mantis Construction Decoration Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SUZHOU GOLD MANTIS CONSTR -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001P86"/>
        </identifiers>
        <balance>6700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7760.36000000</valUSD>
        <pctVal>0.109933768925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hutchison China MediTech Ltd</name>
        <lei>2138006X34YDQ6OBYE79</lei>
        <title>HUTCHISON CHINA MEDITECH-ADR DEPOSITARY RECEIPT</title>
        <cusip>44842L103</cusip>
        <identifiers>
          <isin value="US44842L1035"/>
        </identifiers>
        <balance>821.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14654.85000000</valUSD>
        <pctVal>0.207601566621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GF Securities Company Limited</name>
        <lei>3003007E0Y3ZJ5HNA936</lei>
        <title>GF SECURITIES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000008L2"/>
        </identifiers>
        <balance>4300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8298.86000000</valUSD>
        <pctVal>0.117562195257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUA XIA BANK CO., Limited</name>
        <lei>300300AKNDEHIGVDZW37</lei>
        <title>HUAXIA BANK CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001FW7"/>
        </identifiers>
        <balance>15700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14330.72000000</valUSD>
        <pctVal>0.203009919774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNOOC LIMITED</name>
        <lei>549300XIVJCBIGMRUD48</lei>
        <title>CNOOC LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0883013259"/>
        </identifiers>
        <balance>37826.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>39676.09000000</valUSD>
        <pctVal>0.562054094132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Railway Construction Corporation Limited</name>
        <lei>3003008XPPXMY0STYT17</lei>
        <title>CHINA RAILWAY CONSTRUCTION-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000981"/>
        </identifiers>
        <balance>9500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10638.76000000</valUSD>
        <pctVal>0.150709372181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Luxshare Precision Industry Co., Ltd.</name>
        <lei>300300QLLDUELXN16530</lei>
        <title>LUXSHARE PRECISION INDUSTR-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000TP3"/>
        </identifiers>
        <balance>7150.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>38492.71000000</valUSD>
        <pctVal>0.545290255410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meinian Onehealth Healthcare Holdings Co., Ltd.</name>
        <lei>300300EYIBAM5S5ILV56</lei>
        <title>MEINIAN ONEHEALTH HEALTHCA-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001LV7"/>
        </identifiers>
        <balance>5760.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9597.02000000</valUSD>
        <pctVal>0.135952014991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIC Securities Company Limited</name>
        <lei>300300E1006744000068</lei>
        <title>CITIC SECURITIES CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001DB6"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>28136.90000000</valUSD>
        <pctVal>0.398589171493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNING.COM CO., LTD.</name>
        <lei>300300H2PHP62ZGZDD66</lei>
        <title>SUNING.COM CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001KF2"/>
        </identifiers>
        <balance>10300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13121.67000000</valUSD>
        <pctVal>0.185882438147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.</name>
        <lei>3003000T24CMHQ382Y71</lei>
        <title>HANGZHOU HIKVISION DIGITAL-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000PM8"/>
        </identifiers>
        <balance>8309.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>32705.21000000</valUSD>
        <pctVal>0.463304150685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUNNAN BAIYAO GROUP CO., LTD</name>
        <lei>N/A</lei>
        <title>YUNNAN BAIYAO GROUP CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000008X7"/>
        </identifiers>
        <balance>1200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14483.23000000</valUSD>
        <pctVal>0.205170386441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gemdale Corporation</name>
        <lei>N/A</lei>
        <title>GEMDALE CORP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001790"/>
        </identifiers>
        <balance>8400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16697.61000000</valUSD>
        <pctVal>0.236539438809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA CONCH VENTURE HOLDINGS LIMITED</name>
        <lei>N/A</lei>
        <title>CHINA CONCH VENTURE HOLDINGS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2116J1085"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>26783.99000000</valUSD>
        <pctVal>0.379423759667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>58.COM INC.</name>
        <lei>549300R31W8UMZCTNF95</lei>
        <title>58.COM INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>31680Q104</cusip>
        <identifiers>
          <isin value="US31680Q1040"/>
        </identifiers>
        <balance>296.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14421.12000000</valUSD>
        <pctVal>0.204290532105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Meituan Dianping</name>
        <lei>21380033K525E5JLIA77</lei>
        <title>MEITUAN DIANPING-CLASS B COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG596691041"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>30206.17000000</valUSD>
        <pctVal>0.427902586080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVIC Capital Co., Ltd.</name>
        <lei>300300459IU931EYE898</lei>
        <title>AVIC CAPITAL CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000KC1"/>
        </identifiers>
        <balance>18100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10035.41000000</valUSD>
        <pctVal>0.142162276494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Traditional Chinese Medicine Holdings Co. Limited</name>
        <lei>N/A</lei>
        <title>CHINA TRADITIONAL CHINESE ME COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000056256"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6376.03000000</valUSD>
        <pctVal>0.090323259318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Bank Co., Ltd.</name>
        <lei>549300MKO5B60FFIHF58</lei>
        <title>CHINA MERCHANTS BANK-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002M1"/>
        </identifiers>
        <balance>9500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>42898.24000000</valUSD>
        <pctVal>0.607699282441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAL EDUCATION GROUP</name>
        <lei>5493003PJZS0EC085V72</lei>
        <title>TAL EDUCATION GROUP- ADR DEPOSITARY RECEIPT</title>
        <cusip>874080104</cusip>
        <identifiers>
          <isin value="US8740801043"/>
        </identifiers>
        <balance>1052.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56029.52000000</valUSD>
        <pctVal>0.793717856479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORIENT SECURITIES COMPANY LIMITED</name>
        <lei>300300E1005131000066</lei>
        <title>ORIENT SECURITIES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001ZV6"/>
        </identifiers>
        <balance>11400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14667.76000000</valUSD>
        <pctVal>0.207784450528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNAC CHINA HOLDINGS LIMITED</name>
        <lei>549300OLARYHDXP3WK18</lei>
        <title>SUNAC CHINA HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8569A1067"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>27790.32000000</valUSD>
        <pctVal>0.393679496474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ORIENTAL EDUCATION &amp; TECHNOLOGY GROUP INC.</name>
        <lei>529900NHZVBZQZ8EKN29</lei>
        <title>NEW ORIENTAL EDUCATIO-SP ADR DEPOSITARY RECEIPT</title>
        <cusip>647581107</cusip>
        <identifiers>
          <isin value="US6475811070"/>
        </identifiers>
        <balance>539.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58341.36000000</valUSD>
        <pctVal>0.826467533602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOYY INC.</name>
        <lei>549300N6CHVU5CQZPW24</lei>
        <title>JOYY INC DEPOSITARY RECEIPT</title>
        <cusip>46591M109</cusip>
        <identifiers>
          <isin value="US46591M1099"/>
        </identifiers>
        <balance>171.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9107.46000000</valUSD>
        <pctVal>0.129016875910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weichai Power Co., Ltd.</name>
        <lei>529900OKTPKBG85F9502</lei>
        <title>WEICHAI POWER CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000000D4"/>
        </identifiers>
        <balance>13488.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>22758.45000000</valUSD>
        <pctVal>0.322397695907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEELY AUTOMOBILE HOLDINGS LIMITED</name>
        <lei>549300YS3T1KVQ2SNI84</lei>
        <title>GEELY AUTOMOBILE HOLDINGS LT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3777B1032"/>
        </identifiers>
        <balance>13000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>19187.45000000</valUSD>
        <pctVal>0.271810675610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENN ENERGY HOLDINGS LIMITED</name>
        <lei>549300V7BXPWT6WIPR03</lei>
        <title>ENN ENERGY HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3066L1014"/>
        </identifiers>
        <balance>482.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>4667.08000000</valUSD>
        <pctVal>0.066114161492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tianma Microelectronics Co., Ltd.</name>
        <lei>300300KWFVVYL0LL8S83</lei>
        <title>TIANMA MICROELECTRONICS-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000HT1"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11283.54000000</valUSD>
        <pctVal>0.159843367965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED</name>
        <lei>529900GE9653COPX1I86</lei>
        <title>ALIBABA HEALTH INFORMATION T COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG0171K1018"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>23408.89000000</valUSD>
        <pctVal>0.331611871623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFFSHORE OIL ENGINEERING CO.,LTD.</name>
        <lei>N/A</lei>
        <title>OFFSHORE OIL ENGINEERING-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000019T2"/>
        </identifiers>
        <balance>15100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10417.17000000</valUSD>
        <pctVal>0.147570313702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inner Mongolia Baotou Steel Union Co., Ltd</name>
        <lei>3003005DKNZILXCEDH07</lei>
        <title>INNER MONGOLIA BAOTOU STE-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000017H1"/>
        </identifiers>
        <balance>52900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8582.57000000</valUSD>
        <pctVal>0.121581249732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Taiping Insurance Holdings Company Limited</name>
        <lei>529900C2G37NOIADYW07</lei>
        <title>CHINA TAIPING INSURANCE HOLD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000055878"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8192.60000000</valUSD>
        <pctVal>0.116056909125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GF Securities Company Limited</name>
        <lei>3003007E0Y3ZJ5HNA936</lei>
        <title>GF SECURITIES CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001TQ9"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12865.60000000</valUSD>
        <pctVal>0.182254933726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA CONSTRUCTION BANK CORPORATION</name>
        <lei>5493001KQW6DM7KEDR62</lei>
        <title>CHINA CONSTRUCTION BANK-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002H1"/>
        </identifiers>
        <balance>257000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>210218.17000000</valUSD>
        <pctVal>2.977964388871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Molybdenum Co., Ltd.</name>
        <lei>2549008KG3638J59U652</lei>
        <title>CHINA MOLYBDENUM CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000114"/>
        </identifiers>
        <balance>39000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10918.73000000</valUSD>
        <pctVal>0.154675445570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL BANK CO.,LTD.</name>
        <lei>300300C1030935001303</lei>
        <title>INDUSTRIAL BANK CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001QZ7"/>
        </identifiers>
        <balance>16300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>36586.58000000</valUSD>
        <pctVal>0.518287892766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRRC Corporation Limited</name>
        <lei>30030099HATQH2XC0B72</lei>
        <title>CRRC CORP LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000CP9"/>
        </identifiers>
        <balance>16800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15548.09000000</valUSD>
        <pctVal>0.220255263067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RONGSHENG PETROCHEMICAL CO., LTD.</name>
        <lei>N/A</lei>
        <title>RONGSHENG PETRO CHEMICAL-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000W60"/>
        </identifiers>
        <balance>6100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9423.41000000</valUSD>
        <pctVal>0.133492644340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Focus Media Information Technology Co., Ltd.</name>
        <lei>300300V7WGZW0LZKTD06</lei>
        <title>FOCUS MEDIA INFORMATION TE-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001KK2"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7171.07000000</valUSD>
        <pctVal>0.101585848121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SDIC Power Holdings Co., Ltd.</name>
        <lei>300300LQJ91PHBNFC721</lei>
        <title>SDIC POWER HOLDINGS CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000JM2"/>
        </identifiers>
        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12097.85000000</valUSD>
        <pctVal>0.171378936853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA CITIC BANK CORPORATION LIMITED</name>
        <lei>300300C1030211000384</lei>
        <title>CHINA CITIC BANK CORP LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001Q4"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12353.40000000</valUSD>
        <pctVal>0.174999074920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>IND &amp; COMM BK OF CHINA-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000003G1"/>
        </identifiers>
        <balance>171441.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>117451.10000000</valUSD>
        <pctVal>1.663819988699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOMO INC.</name>
        <lei>549300YMGLID32W48529</lei>
        <title>MOMO INC-SPON ADR DEPOSITARY RECEIPT</title>
        <cusip>60879B107</cusip>
        <identifiers>
          <isin value="US60879B1070"/>
        </identifiers>
        <balance>380.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8242.20000000</valUSD>
        <pctVal>0.116759545980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHANDONG HUALU-HENGSHENG CHEMICAL CO.,LTD</name>
        <lei>N/A</lei>
        <title>SHANDONG HUALU HENGSHENG-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001BM7"/>
        </identifiers>
        <balance>3600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7973.82000000</valUSD>
        <pctVal>0.112957657291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Jinmao Holdings Group Limited</name>
        <lei>3003000CW9WBO3PJ7R66</lei>
        <title>CHINA JINMAO HOLDINGS GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0817039453"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15544.00000000</valUSD>
        <pctVal>0.220197323859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIC Securities Company Limited</name>
        <lei>300300E1006744000068</lei>
        <title>CITIC SECURITIES CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000016V2"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10992.27000000</valUSD>
        <pctVal>0.155717218035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gree Electric Appliances, Inc. of Zhuhai</name>
        <lei>N/A</lei>
        <title>GREE ELECTRIC APPLIANCES I-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000001D4"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>22093.06000000</valUSD>
        <pctVal>0.312971737510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DHC Software Co., Ltd</name>
        <lei>300300NIFA1100061160</lei>
        <title>DHC SOFTWARE CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001NL4"/>
        </identifiers>
        <balance>7900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14399.71000000</valUSD>
        <pctVal>0.203987236641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAIC Motor Corporation Limited</name>
        <lei>300300F1009131000012</lei>
        <title>SAIC MOTOR CORP LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000TY6"/>
        </identifiers>
        <balance>5557.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16071.57000000</valUSD>
        <pctVal>0.227670915093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUOSEN SECURITIES CO., LTD.</name>
        <lei>254900SSGIWSMEOHDN82</lei>
        <title>GUOSEN SECURITIES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001WS9"/>
        </identifiers>
        <balance>9600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15033.44000000</valUSD>
        <pctVal>0.212964697400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TENCENT HOLDINGS LIMITED</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>TENCENT HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
        </identifiers>
        <balance>14858.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>728820.09000000</valUSD>
        <pctVal>10.32451321364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sichuan Kelun Pharmaceutical Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SICHUAN KELUN PHARMACEUTIC-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000PW7"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>5545.98000000</valUSD>
        <pctVal>0.078564716557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA UNICOM (HONG KONG) LIMITED</name>
        <lei>5299006RQXYNFYPOUS20</lei>
        <title>CHINA UNICOM HONG KONG LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000049939"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8073.90000000</valUSD>
        <pctVal>0.114375397137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVIC Electromechanical Systems Co., Ltd.</name>
        <lei>N/A</lei>
        <title>AVIC ELECTROMECHANICAL SY-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001JY5"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>6103.10000000</valUSD>
        <pctVal>0.086456915031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aisino Corporation</name>
        <lei>300300NIFA1100045155</lei>
        <title>AISINO CORP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001FB1"/>
        </identifiers>
        <balance>3100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8348.95000000</valUSD>
        <pctVal>0.118271773484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Huarong Asset Management Co., Ltd.</name>
        <lei>300300D2000111000062</lei>
        <title>CHINA HUARONG ASSET MANAGE-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002367"/>
        </identifiers>
        <balance>49000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6195.41000000</valUSD>
        <pctVal>0.087764584547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>51JOB, INC.</name>
        <lei>52990088ZF32Q8YHCJ53</lei>
        <title>51JOB INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>316827104</cusip>
        <identifiers>
          <isin value="US3168271043"/>
        </identifiers>
        <balance>113.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6937.07000000</valUSD>
        <pctVal>0.098270988768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NINE DRAGONS PAPER (HOLDINGS) LIMITED</name>
        <lei>529900TBMYEYJ2LEV906</lei>
        <title>NINE DRAGONS PAPER HOLDINGS COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG653181005"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10945.83000000</valUSD>
        <pctVal>0.155059345948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZTO Express (Cayman) Inc</name>
        <lei>549300SCJPK3YZJTJR78</lei>
        <title>ZTO EXPRESS CAYMAN INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>98980A105</cusip>
        <identifiers>
          <isin value="US98980A1051"/>
        </identifiers>
        <balance>780.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20654.40000000</valUSD>
        <pctVal>0.292591585558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Far East Horizon Limited</name>
        <lei>549300S9XRGO1ZPUHE62</lei>
        <title>FAR EAST HORIZON LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000077468"/>
        </identifiers>
        <balance>7000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>5644.51000000</valUSD>
        <pctVal>0.079960499002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JIANGSU HENGRUI MEDICINE CO.,LTD.</name>
        <lei>N/A</lei>
        <title>JIANGSU HENGRUI MEDICINE C-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000014W7"/>
        </identifiers>
        <balance>3600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>46740.78000000</valUSD>
        <pctVal>0.662132956195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Communications Construction Company Limited</name>
        <lei>529900LWYPVP93SJ2U42</lei>
        <title>CHINA COMMUNICATIONS CONST-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002F5"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>16720.64000000</valUSD>
        <pctVal>0.236865683300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daqin Railway Co., Ltd.</name>
        <lei>30030098LARO7YWJL882</lei>
        <title>DAQIN RAILWAY CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001NG4"/>
        </identifiers>
        <balance>13900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13334.84000000</valUSD>
        <pctVal>0.188902218353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Life Insurance Company Limited</name>
        <lei>549300J6TFLDXGH6S048</lei>
        <title>CHINA LIFE INSURANCE CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002L3"/>
        </identifiers>
        <balance>18483.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>36198.63000000</valUSD>
        <pctVal>0.512792167612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oriental Pearl Group Co.,Ltd.</name>
        <lei>N/A</lei>
        <title>ORIENTAL PEARL GROUP CO LT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000004Z1"/>
        </identifiers>
        <balance>6740.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8320.17000000</valUSD>
        <pctVal>0.117864074115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Petroleum &amp; Chemical Corporation</name>
        <lei>529900A2OB24EZ5B3J19</lei>
        <title>CHINA PETROLEUM &amp; CHEMICAL-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000018G1"/>
        </identifiers>
        <balance>22200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13874.61000000</valUSD>
        <pctVal>0.196548635588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NavInfo Co., Ltd.</name>
        <lei>N/A</lei>
        <title>NAVINFO CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000P69"/>
        </identifiers>
        <balance>5400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10718.94000000</valUSD>
        <pctVal>0.151845207321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yanzhou Coal Mining Company Limited</name>
        <lei>3003005N7A6HYZ4Z0K39</lei>
        <title>YANZHOU COAL MINING CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004Q8"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9413.10000000</valUSD>
        <pctVal>0.133346592204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOE Technology Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>BOE TECHNOLOGY GROUP CO LT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000016L5"/>
        </identifiers>
        <balance>39100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>20465.14000000</valUSD>
        <pctVal>0.289910515980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Wall Motor Company Limited</name>
        <lei>254900CR8AHWTMFZHH60</lei>
        <title>GREAT WALL MOTOR COMPANY-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000338"/>
        </identifiers>
        <balance>18500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>11862.49000000</valUSD>
        <pctVal>0.168044811651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Everbright International Limited</name>
        <lei>N/A</lei>
        <title>CHINA EVERBRIGHT INTL LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0257001336"/>
        </identifiers>
        <balance>12323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>7074.97000000</valUSD>
        <pctVal>0.100224489216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MEDICAL SYSTEM HOLDINGS LIMITED</name>
        <lei>529900Z57DVJXUBLHX66</lei>
        <title>CHINA MEDICAL SYSTEM HOLDING COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG211081248"/>
        </identifiers>
        <balance>7000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>7577.18000000</valUSD>
        <pctVal>0.107338829027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guotai Junan Securities Co., Ltd.</name>
        <lei>300300E1005431000017</lei>
        <title>GUOTAI JUNAN SECURITIES CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000022F3"/>
        </identifiers>
        <balance>6600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15158.71000000</valUSD>
        <pctVal>0.214739280440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHEJIANG CHINT ELECTRICS CO., LTD</name>
        <lei>N/A</lei>
        <title>ZHEJIANG CHINT ELECTRICS-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000KD8"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10009.59000000</valUSD>
        <pctVal>0.141796508680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inner Mongolia Yili Industrial Group Co., Ltd.</name>
        <lei>3003002Q2A863JPQFH06</lei>
        <title>INNER MONGOLIA YILI INDUS-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000JP5"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>25275.81000000</valUSD>
        <pctVal>0.358058782834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINGBOARD HOLDINGS LIMITED</name>
        <lei>529900G89MY26MMSDR76</lei>
        <title>KINGBOARD HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG525621408"/>
        </identifiers>
        <balance>3500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8200.34000000</valUSD>
        <pctVal>0.116166554473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China International Travel Service Corporation Limited</name>
        <lei>N/A</lei>
        <title>CHINA INTERNATIONAL TRAVEL-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000G29"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>17064.98000000</valUSD>
        <pctVal>0.241743626332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Railway Construction Corporation Limited</name>
        <lei>3003008XPPXMY0STYT17</lei>
        <title>CHINA RAILWAY CONSTRUCTION-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000009T1"/>
        </identifiers>
        <balance>8500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11787.90000000</valUSD>
        <pctVal>0.166988164817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Poly Developments and Holdings Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>POLY DEVELOPMENTS AND HOLD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001ND1"/>
        </identifiers>
        <balance>10300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>21607.88000000</valUSD>
        <pctVal>0.306098645797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Autohome Inc</name>
        <lei>529900NYB6ZGZN3MVT56</lei>
        <title>AUTOHOME INC-ADR DEPOSITARY RECEIPT</title>
        <cusip>05278C107</cusip>
        <identifiers>
          <isin value="US05278C1071"/>
        </identifiers>
        <balance>178.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12641.56000000</valUSD>
        <pctVal>0.179081168387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZTE Corporation</name>
        <lei>3003004FBGVVG1CW5U45</lei>
        <title>ZTE CORP-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004Y2"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>18617.19000000</valUSD>
        <pctVal>0.263732335034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Changjiang Securities Company Limited</name>
        <lei>300300E1003242000047</lei>
        <title>CHANGJIANG SECURITIES CO L-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000SH3"/>
        </identifiers>
        <balance>17500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15776.22000000</valUSD>
        <pctVal>0.223486967615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Railway Group Limited</name>
        <lei>529900TFRLG8UDJ7QA89</lei>
        <title>CHINA RAILWAY GROUP LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000007Z2"/>
        </identifiers>
        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9591.14000000</valUSD>
        <pctVal>0.135868718525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA VANKE CO., LTD.</name>
        <lei>529900E66UJ2DWY7KW55</lei>
        <title>CHINA VANKE CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001SR9"/>
        </identifiers>
        <balance>3700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12196.65000000</valUSD>
        <pctVal>0.172778544135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Limited</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>CHINA MOBILE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0941009539"/>
        </identifiers>
        <balance>15972.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>118797.28000000</valUSD>
        <pctVal>1.682890062903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Communications Co., Ltd.</name>
        <lei>549300AX1UM10U30HK09</lei>
        <title>BANK OF COMMUNICATIONS CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000000S2"/>
        </identifiers>
        <balance>36000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>26206.94000000</valUSD>
        <pctVal>0.371249231506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China International Capital Corporation Limited</name>
        <lei>529900OS3SVVTT56QN67</lei>
        <title>CHINA INTERNATIONAL CAPITA-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002359"/>
        </identifiers>
        <balance>5200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8412.96000000</valUSD>
        <pctVal>0.119178543343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIFI HOLDINGS (GROUP) CO. LTD.</name>
        <lei>549300WGKSV867C0JF48</lei>
        <title>CIFI HOLDINGS GROUP CO LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2140A1076"/>
        </identifiers>
        <balance>25195.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>18203.31000000</valUSD>
        <pctVal>0.257869283799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUATAI SECURITIES CO.,LTD.</name>
        <lei>3003009ABT0UCWO79Q77</lei>
        <title>HUATAI SECURITIES CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001YQ9"/>
        </identifiers>
        <balance>7400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10998.46000000</valUSD>
        <pctVal>0.155804905981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUANGDONG INVESTMENT LIMITED</name>
        <lei>N/A</lei>
        <title>GUANGDONG INVESTMENT LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0270001396"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>23130.22000000</valUSD>
        <pctVal>0.327664214119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TINGYI (CAYMAN ISLANDS) HOLDING CORP.</name>
        <lei>5299009MPI9B60VN4P25</lei>
        <title>TINGYI (CAYMAN ISLN) HLDG CO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8878S1030"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>16359.39000000</valUSD>
        <pctVal>0.231748192098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tonghua Dongbao Pharmaceutical Co., Ltd.</name>
        <lei>N/A</lei>
        <title>TONGHUA DONGBAO PHARMACEUT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000H87"/>
        </identifiers>
        <balance>4200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>6286.79000000</valUSD>
        <pctVal>0.089059079623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Changchun High &amp; New Technology Industries (Group) Inc.</name>
        <lei>300300X04OTKZG18WD66</lei>
        <title>CHANGCHUN HIGH &amp; NEW TECH-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000007J8"/>
        </identifiers>
        <balance>500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>38655.79000000</valUSD>
        <pctVal>0.547600457389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHEJIANG NHU COMPANY LTD.</name>
        <lei>N/A</lei>
        <title>ZHEJIANG NHU CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001J84"/>
        </identifiers>
        <balance>3600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>13865.30000000</valUSD>
        <pctVal>0.196416749517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA LONGYUAN POWER GROUP CORPORATION LIMITED</name>
        <lei>5299008UYLF3O6V9T464</lei>
        <title>CHINA LONGYUAN POWER GROUP-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HD4"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6595.36000000</valUSD>
        <pctVal>0.093430302489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUATAI SECURITIES CO.,LTD.</name>
        <lei>3003009ABT0UCWO79Q77</lei>
        <title>HUATAI SECURITIES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000LQ8"/>
        </identifiers>
        <balance>4900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11910.92000000</valUSD>
        <pctVal>0.168730874208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Gezhouba Group Company Limited</name>
        <lei>N/A</lei>
        <title>CHINA GEZHOUBA GROUP CO LT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000QF1"/>
        </identifiers>
        <balance>8500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8370.25000000</valUSD>
        <pctVal>0.118573510681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenzhen Overseas Chinese Town Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SHENZHEN OVERSEAS CHINESE-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000SS0"/>
        </identifiers>
        <balance>14400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12981.58000000</valUSD>
        <pctVal>0.183897914016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Greenland Holdings Corporation Limited</name>
        <lei>N/A</lei>
        <title>GREENLAND HOLDINGS CORP LT-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000388"/>
        </identifiers>
        <balance>14400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10990.66000000</valUSD>
        <pctVal>0.155694410669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hengtong Optic-Electric CO.,LTD</name>
        <lei>N/A</lei>
        <title>HENGTONG OPTIC-ELECTRIC CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001FQ9"/>
        </identifiers>
        <balance>3100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>7076.27000000</valUSD>
        <pctVal>0.100242905102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai Electric Group Company Limited</name>
        <lei>529900WHVV4GODE91T37</lei>
        <title>SHANGHAI ELECTRIC GRP CO L-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000437"/>
        </identifiers>
        <balance>38000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10050.45000000</valUSD>
        <pctVal>0.142375334121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhejiang Longsheng Group Co., Ltd</name>
        <lei>N/A</lei>
        <title>ZHEJIANG LONGSHENG GROUP C-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001FJ4"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>15122.32000000</valUSD>
        <pctVal>0.214223777312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai Fosun Pharmaceutical (Group) Co., Ltd.</name>
        <lei>300300DMUYLW3FP1OT73</lei>
        <title>SHANGHAI FOSUN PHARMACEUTI-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001M79"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8224.85000000</valUSD>
        <pctVal>0.116513764741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanxi Lu'an Environmental Energy Dev. Co., Ltd</name>
        <lei>N/A</lei>
        <title>SHANXI LU'AN ENVIRONMENTAL-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001NT7"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>4934.96000000</valUSD>
        <pctVal>0.069908967148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED</name>
        <lei>529900SWRZN94C5SZO63</lei>
        <title>KINGDEE INTERNATIONAL SFTWR COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG525681477"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>16008.46000000</valUSD>
        <pctVal>0.226776894693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA PACIFIC INSURANCE (GROUP) CO., LTD.</name>
        <lei>529900BA5ILEL308WX03</lei>
        <title>CHINA PACIFIC INSURANCE GR-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000008M8"/>
        </identifiers>
        <balance>4300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>17119.44000000</valUSD>
        <pctVal>0.242515110265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Eastern Airlines Corporation Limited</name>
        <lei>3003000KIOQE39Q7Y685</lei>
        <title>CHINA EASTERN AIRLINES CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000TR0"/>
        </identifiers>
        <balance>20500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11944.50000000</valUSD>
        <pctVal>0.169206570692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCES LAND LIMITED</name>
        <lei>5299001HL0TU7X15HK51</lei>
        <title>CHINA RESOURCES LAND LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2108Y1052"/>
        </identifiers>
        <balance>10214.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>42169.04000000</valUSD>
        <pctVal>0.597369387398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEIBO CORPORATION</name>
        <lei>549300Q9ID4640FE0422</lei>
        <title>WEIBO CORP-SPON ADR DEPOSITARY RECEIPT</title>
        <cusip>948596101</cusip>
        <identifiers>
          <isin value="US9485961018"/>
        </identifiers>
        <balance>176.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5827.36000000</valUSD>
        <pctVal>0.082550764099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHANXI XINGHUACUN FEN WINE FACTORY CO., LTD.</name>
        <lei>N/A</lei>
        <title>SHANXI XINGHUACUN FEN WINE-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000DH5"/>
        </identifiers>
        <balance>700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8905.79000000</valUSD>
        <pctVal>0.126160005458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Bank Co., Ltd.</name>
        <lei>549300MKO5B60FFIHF58</lei>
        <title>CHINA MERCHANTS BANK-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001B33"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>54648.57000000</valUSD>
        <pctVal>0.774155228174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Construction Corporation of China, Ltd.</name>
        <lei>N/A</lei>
        <title>POWER CONSTRUCTION CORP OF-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000017G1"/>
        </identifiers>
        <balance>15700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8726.90000000</valUSD>
        <pctVal>0.123625837981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANY HEAVY INDUSTRY CO., LTD</name>
        <lei>3003001FS86S7NYOHV89</lei>
        <title>SANY HEAVY INDUSTRY CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001F70"/>
        </identifiers>
        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>26359.30000000</valUSD>
        <pctVal>0.373407573263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XINJIANG GOLDWIND SCIENCE &amp; TECHNOLOGY CO.,LTD</name>
        <lei>529900UCUDMIZJ2ZJJ84</lei>
        <title>XINJIANG GOLDWIND SCI&amp;TECH-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000008S5"/>
        </identifiers>
        <balance>8449.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>11323.82000000</valUSD>
        <pctVal>0.160413977088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW CHINA LIFE INSURANCE COMPANY LTD.</name>
        <lei>529900QCDGPLPB62KH67</lei>
        <title>NEW CHINA LIFE INSURANCE C-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000019Y0"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10106.94000000</valUSD>
        <pctVal>0.143175575167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA CINDA ASSET MANAGEMENT CO., LTD.</name>
        <lei>3003008W60YAHL9CQE51</lei>
        <title>CHINA CINDA ASSET MANAGEME-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001QS1"/>
        </identifiers>
        <balance>4504.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>854.21000000</valUSD>
        <pctVal>0.012100794905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCES GAS GROUP LIMITED</name>
        <lei>529900A0E1J5JSOKEK83</lei>
        <title>CHINA RESOURCES GAS GROUP LT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG2113B1081"/>
        </identifiers>
        <balance>2000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10063.35000000</valUSD>
        <pctVal>0.142558076367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinopec Shanghai Petrochemical Company Limited</name>
        <lei>5299008RZ0G8ACZ8ZU65</lei>
        <title>SINOPEC SHANGHAI PETROCHE-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000BB2"/>
        </identifiers>
        <balance>27100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14872.46000000</valUSD>
        <pctVal>0.210684244158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEIJING TONGRENTANG CO., LTD</name>
        <lei>N/A</lei>
        <title>BEIJING TONGRENTANG CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000R69"/>
        </identifiers>
        <balance>3044.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10886.46000000</valUSD>
        <pctVal>0.154218306632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Petroleum &amp; Chemical Corporation</name>
        <lei>529900A2OB24EZ5B3J19</lei>
        <title>CHINA PETROLEUM &amp; CHEMICAL-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002Q2"/>
        </identifiers>
        <balance>74500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>36717.03000000</valUSD>
        <pctVal>0.520135856025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jiangsu Yanghe Brewery Joint-stock Co., Ltd.</name>
        <lei>N/A</lei>
        <title>JIANGSU YANGHE BREWERY -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HB8"/>
        </identifiers>
        <balance>1200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>14198.81000000</valUSD>
        <pctVal>0.201141274059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PICC Property and Casualty Company Limited</name>
        <lei>300300F1000311000017</lei>
        <title>PICC PROPERTY &amp; CASUALTY-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000593"/>
        </identifiers>
        <balance>15510.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15007.93000000</valUSD>
        <pctVal>0.212603321067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited</name>
        <lei>529900ROARJHMUIME057</lei>
        <title>GUANGZHOU BAIYUNSHAN PHAR-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001733"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8438.25000000</valUSD>
        <pctVal>0.119536803143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PetroChina Company Limited</name>
        <lei>529900RPY4YG47TRSV05</lei>
        <title>PETROCHINA CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000003W8"/>
        </identifiers>
        <balance>51984.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>19047.41000000</valUSD>
        <pctVal>0.269826859782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRRC Corporation Limited</name>
        <lei>30030099HATQH2XC0B72</lei>
        <title>CRRC CORP LTD - H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000BG0"/>
        </identifiers>
        <balance>13000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>6608.26000000</valUSD>
        <pctVal>0.093613044735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AAC TECHNOLOGIES HOLDINGS INC.</name>
        <lei>549300SKEDE1VKS0A552</lei>
        <title>AAC TECHNOLOGIES HOLDINGS IN COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2953R1149"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15559.48000000</valUSD>
        <pctVal>0.220416614555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Oilfield Services Limited</name>
        <lei>529900J4X53VL8QQW675</lei>
        <title>CHINA OILFIELD SERVICES-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000002P4"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>9273.76000000</valUSD>
        <pctVal>0.131372692621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Southern Airlines Company Limited</name>
        <lei>529900AJQ1Q18ABYVX84</lei>
        <title>CHINA SOUTHERN AIRLINES CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001FG0"/>
        </identifiers>
        <balance>7900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>5739.82000000</valUSD>
        <pctVal>0.081310666716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINO BIOPHARMACEUTICAL LIMITED</name>
        <lei>529900LPR4ADFEJAR786</lei>
        <title>SINO BIOPHARMACEUTICAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8167W1380"/>
        </identifiers>
        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>23734.02000000</valUSD>
        <pctVal>0.336217684535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shenwan Hongyuan Group Co., Ltd.</name>
        <lei>300300E1012465000025</lei>
        <title>SHENWAN HONGYUAN GROUP CO-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002FD4"/>
        </identifiers>
        <balance>27100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16860.56000000</valUSD>
        <pctVal>0.238847799200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trip.com Group Limited</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT</title>
        <cusip>89677Q107</cusip>
        <identifiers>
          <isin value="US89677Q1076"/>
        </identifiers>
        <balance>1565.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36699.25000000</valUSD>
        <pctVal>0.519883983379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA VANKE CO., LTD.</name>
        <lei>529900E66UJ2DWY7KW55</lei>
        <title>CHINA VANKE CO LTD -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000000T2"/>
        </identifiers>
        <balance>7143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>25848.30000000</valUSD>
        <pctVal>0.366168713736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seazen Holdings Co., Ltd</name>
        <lei>N/A</lei>
        <title>SEAZEN HOLDINGS CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002BF8"/>
        </identifiers>
        <balance>2400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10587.74000000</valUSD>
        <pctVal>0.149986619513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TravelSky Technology Ltd</name>
        <lei>5299007TAWP4DZ6QFG73</lei>
        <title>TRAVELSKY TECHNOLOGY LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004J3"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8824.78000000</valUSD>
        <pctVal>0.125012412483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IFLYTEK CO., LTD</name>
        <lei>3003000T23C63KVWOH32</lei>
        <title>IFLYTEK CO LTD - A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000B81"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12154.00000000</valUSD>
        <pctVal>0.172174361437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Haitong Securities Co., Ltd.</name>
        <lei>300300E1003931000068</lei>
        <title>HAITONG SECURITIES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000CK1"/>
        </identifiers>
        <balance>10200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18476.91000000</valUSD>
        <pctVal>0.261745119350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TASLY PHARMACEUTICAL GROUP CO.,LTD.</name>
        <lei>N/A</lei>
        <title>TASLY PHARMACEUTICAL GROUP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001C81"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>5849.16000000</valUSD>
        <pctVal>0.082859584329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MINSHENG BANKING CORP., LTD.</name>
        <lei>549300HBUGSQD1VCXG94</lei>
        <title>CHINA MINSHENG BANKING COR-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HF9"/>
        </identifiers>
        <balance>27500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>20436.34000000</valUSD>
        <pctVal>0.289502533291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGRICULTURAL BANK OF CHINA LIMITED</name>
        <lei>549300E7TSGLCOVSY746</lei>
        <title>AGRICULTURAL BANK OF CHINA-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000RJ0"/>
        </identifiers>
        <balance>21000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9984.20000000</valUSD>
        <pctVal>0.141436832274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alibaba Pictures Group Limited</name>
        <lei>213800DWTSI7ACSGHN32</lei>
        <title>ALIBABA PICTURES GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG0171W1055"/>
        </identifiers>
        <balance>120000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15482.07000000</valUSD>
        <pctVal>0.219320019416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUM CHINA HOLDINGS, INC.</name>
        <lei>529900DO9BYZ7VA3K502</lei>
        <title>YUM CHINA HOLDINGS INC COMMON STOCK</title>
        <cusip>98850P109</cusip>
        <identifiers>
          <isin value="US98850P1093"/>
        </identifiers>
        <balance>889.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37898.07000000</valUSD>
        <pctVal>0.536866546155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANHUI CONCH CEMENT COMPANY LIMITED</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>ANHUI CONCH CEMENT CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001W2"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>20842.74000000</valUSD>
        <pctVal>0.295259622355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIO INC.</name>
        <lei>549300JBU4TV5OCKJV96</lei>
        <title>NIO INC - ADR DEPOSITARY RECEIPT</title>
        <cusip>62914V106</cusip>
        <identifiers>
          <isin value="US62914V1061"/>
        </identifiers>
        <balance>8200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22796.00000000</valUSD>
        <pctVal>0.322929631671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Merchants Port Holdings Company Limited</name>
        <lei>529900GA4UH90FUOR048</lei>
        <title>CHINA MERCHANTS PORT HOLDING COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0144000764"/>
        </identifiers>
        <balance>10741.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>12277.96000000</valUSD>
        <pctVal>0.173930386930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINOPHARM GROUP CO. LTD.</name>
        <lei>529900N54X78YH9JYK92</lei>
        <title>SINOPHARM GROUP CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000FN7"/>
        </identifiers>
        <balance>4800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>10800.29000000</valUSD>
        <pctVal>0.152997616759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zai Lab Ltd</name>
        <lei>549300P2UYQ9U5LY1T58</lei>
        <title>ZAI LAB LTD-ADR DEPOSITARY RECEIPT</title>
        <cusip>98887Q104</cusip>
        <identifiers>
          <isin value="US98887Q1040"/>
        </identifiers>
        <balance>135.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6949.80000000</valUSD>
        <pctVal>0.098451322784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MERCHANTS SHEKOU INDUSTRIAL ZONE HOLDINGS CO.,LTD</name>
        <lei>300300T3ACALX7NIPW13</lei>
        <title>CHINA MERCHANTS SHEKOU IND-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002FC6"/>
        </identifiers>
        <balance>7200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16739.93000000</valUSD>
        <pctVal>0.237138946705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yonghui Superstores Co., Ltd.</name>
        <lei>N/A</lei>
        <title>YONGHUI SUPERSTORES CO LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000XX9"/>
        </identifiers>
        <balance>12600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18202.65000000</valUSD>
        <pctVal>0.257859934196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA STATE CONSTRUCTION INTERNATIONAL HOLDINGS LIMITED</name>
        <lei>529900QVUUH13RIZIR85</lei>
        <title>CHINA STATE CONSTRUCTION INT COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG216771363"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>8886.71000000</valUSD>
        <pctVal>0.125889716927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>IND &amp; COMM BK OF CHINA-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001P37"/>
        </identifiers>
        <balance>42000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>30515.50000000</valUSD>
        <pctVal>0.432284575156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China State Construction Engineering Corporation Limited</name>
        <lei>N/A</lei>
        <title>CHINA STATE CONSTRUCTION -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000F46"/>
        </identifiers>
        <balance>33000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>24535.14000000</valUSD>
        <pctVal>0.347566403018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANAN OPTOELECTRONICS CO., LTD.</name>
        <lei>N/A</lei>
        <title>SANAN OPTOELECTRONICS CO L-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000KB3"/>
        </identifiers>
        <balance>6600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>17831.04000000</valUSD>
        <pctVal>0.252595682554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF CHINA LIMITED</name>
        <lei>54930053HGCFWVHYZX42</lei>
        <title>BANK OF CHINA LTD-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001N05"/>
        </identifiers>
        <balance>24700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>12126.63000000</valUSD>
        <pctVal>0.171786636221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZHANGZHOU PIENTZEHUANG PHARMACEUTICAL.LTD</name>
        <lei>N/A</lei>
        <title>ZHANGZHOU PIENTZEHUANG PHA-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001F21"/>
        </identifiers>
        <balance>600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>10521.71000000</valUSD>
        <pctVal>0.149051234201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHANGHAI PUDONG DEVELOPMENT BANK CO., LTD.</name>
        <lei>300300C1031031001330</lei>
        <title>SHANGHAI PUDONG DEVEL BANK-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000011B7"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>34366.98000000</valUSD>
        <pctVal>0.486844893536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huadian Power International Corporation Limited</name>
        <lei>529900207FCOKWBDRE79</lei>
        <title>HUADIAN POWER INTL CORP-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001LJ2"/>
        </identifiers>
        <balance>20400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>9929.18000000</valUSD>
        <pctVal>0.140657415344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Foshan Haitian Flavouring and Food Co Ltd</name>
        <lei>N/A</lei>
        <title>FOSHAN HAITIAN FLAVOURING -A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001SL2"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>33551.96000000</valUSD>
        <pctVal>0.475299266741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Galaxy Securities Co., Ltd.</name>
        <lei>3003008KFQXO06OK8582</lei>
        <title>CHINA GALAXY SECURITIES CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001NT6"/>
        </identifiers>
        <balance>30500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>14795.70000000</valUSD>
        <pctVal>0.209596856962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAIER ELECTRONICS GROUP CO., LTD.</name>
        <lei>2549005C2Y8BRVJ7PQ20</lei>
        <title>HAIER ELECTRONICS GROUP CO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG423131256"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>15985.24000000</valUSD>
        <pctVal>0.226447958649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YONYOU NETWORK TECHNOLOGY CO.,LTD.</name>
        <lei>N/A</lei>
        <title>YONYOU NETWORK TECHNOLOGY-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000017Y6"/>
        </identifiers>
        <balance>3250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>18551.25000000</valUSD>
        <pctVal>0.262798224668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LONGFOR GROUP HOLDINGS LIMITED</name>
        <lei>254900UJX27B2F1JYR13</lei>
        <title>LONGFOR GROUP HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5635P1090"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>29222.41000000</valUSD>
        <pctVal>0.413966577375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guangzhou Automobile Group Co., Ltd</name>
        <lei>5299005KY9BJO3ZE6A37</lei>
        <title>GUANGZHOU AUTOMOBILE GROUP-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000Q35"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>14070.62000000</valUSD>
        <pctVal>0.199325326109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Resources Beer (Holdings) Company Limited</name>
        <lei>N/A</lei>
        <title>CHINA RESOURCES BEER HOLDING COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0291001490"/>
        </identifiers>
        <balance>8000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>36537.69000000</valUSD>
        <pctVal>0.517595313819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shanghai Pharmaceuticals Holding Co., Ltd.</name>
        <lei>30030029J1KKCBY19820</lei>
        <title>SHANGHAI PHARMACEUTICALS-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000C82"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>16514.77000000</valUSD>
        <pctVal>0.233949315372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION</name>
        <lei>300300522KCU7YI25841</lei>
        <title>SEMICONDUCTOR MANUFACTURING COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8020E1199"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75090000"/>
        <valUSD>23610.16000000</valUSD>
        <pctVal>0.334463075649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hubei Biocause Pharmaceutical Co., Ltd</name>
        <lei>N/A</lei>
        <title>HUBEI BIOCAUSE PHARMACEUTI-A COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000F48"/>
        </identifiers>
        <balance>10300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.08820000"/>
        <valUSD>8602.47000000</valUSD>
        <pctVal>0.121863154437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Krane Funds Advisors, LLC</ncom:nameOfApplicant>
      <ncom:signature>Jonathan Krane</ncom:signature>
      <ncom:signerName>Jonathan Krane</ncom:signerName>
      <ncom:title>CEO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
