Ms. Fang Xiangming joined IBM China in July 2006 as a Director of China Investment Fund based in Beijing, focusing on making equity investments into growing companies in China. The Fund (an IBM and Lehman Brothers business alliance) has closed two investments in the first half of 2007.

　　From 2003-2006, Ms. Fang was a Director of GE Corporate Financial Services (CFS) China Business, where she was responsible to develop investment opportunities and manage assets in the acquired portfolios (distressed companies with non-performing loans).

　　Prior to GE CFS, Ms. Fang had also worked in GE Financial Europe, Bovis Lend Lease, The Export-Import Bank of China, Industrial and Commercial Bank of China and China Securities assuming various responsibilities in both China and UK.

　　Ms.Fang graduated from China Institute of Finance and Banking and holds an MBA degree from City University Business School (London).