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The binary nonlinearization method is applied to a 4×4 matrix eigenvalue problem. The typical system of the corresponding soliton hierarchy associated with this eigenvalue problem is the multi-component generalization of the nonlinear Schrodinger equation. With this method, Lax pairs and adjoint Lax pairs of the soliton hierarchy are reduced to two classes of finite dimensional Hamiltonian systems: a spatial finite dimensional Hamiltonian system and a hierarchy of temporal finite dimensional Hamiltonian systems. These finite dimensional Hamiltonian systems are commutative and Liouville integrable.