The CNI Country (Region) Classification Criteria are developed as part of global index system for global asset allocation. Combining China's insight with global experience, the CNI Country (Region) Classifiction Criteria categorize countries into developed, emerging and frontier markets based on macroeconnmic fundamentals, stock market quality, exchange trading system and other dimensions, which could provide a viewing deck of global market and serve the demands of global asset allocation.

International, professional and consistency. As described above, global experience has been taken into consideration for the construction of the framework, ensuring the system is in line with investors' perception and global standards.

Chinese characteristics and differentiation. Considering China's diplomacy and international business policies, as well as the interconnection with global capital markets, some of the small or medium markets deeply involved in China's "Belt and Road" initiative are classified as particular concern markets. Developed and emerging markets are also subclassified so that select countries and regions with more developed stock market, larger investment capacity will be more appealing to Chinese institutional investors.