As a standing member of M&A Society under All-China Federation of Industry & Commerce (ACFIC), CEA sent Executive VP and Chief Valuer Dr. LIU Dengqing to join M&A Society’s study tour to Japan from Oct. 24 to 30, 2005 and attended Japan-China Economic Seminar 2005 in Osaka and the 2^nd Japan-China M&A Forum in Tokyo. Dr. LIU delivered speech. Dr. LIU gave themed speeches on 25 and 27, Oct. regarding China’s M&A issues. During the event, Dr. LIU also visited Tokyo Stock Exchange and Nomura Securities, had meetings there, and visited Deloitte (Japan). The meeting helped Japan investors to have a further understanding of China’s M&A and appraisal industry and was considered a success.