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CIRCULAR OF THE PEOPLE’S BANK OF CHINA AND THE MINISTRY OF FINANCE CONCERNING PRINTING AND DISTRIBUTING THE INTERIM MEASURES FOR THE ADMINISTRATION OF THE PLEDGE OF (ELECTRONIC) SAVINGS BONDS

Circular of the People’s Bank of China and the Ministry of Finance concerning Printing and Distributing the Interim Measures for the
Administration of the Pledge of (Electronic) Savings Bonds

Yin Fa [2006] No. 291

The Shanghai Headquarters of the People’s Bank of China, each branch and business management department of the People’s Bank of China,
central sub-branch of the People’s Bank of China in provincial capital city, central sub-branch of the People’s Bank of China in
Dalian, Qingdao, Ningbo, Xiamen and Shenzhen; the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China,
China Construction Bank, Bank of Communications, China Merchants Bank, Bank of Beijing, and the China Government Securities Depository
Trust & Clearing Co., Ltd.:

We hereby print and distribute the Interim Measures for the Administration of the Pledge of (Electronic) Savings Bonds (see the Appendix)
to you, please abide hereby.

Appendix: Interim Measures for the Administration of the Pledge of (Electronic) Savings Bonds

The People’s Bank of China and

The Ministry of Finance

August 18, 2006
Appendix:

Interim Measures for the Administration of the Pledge of (Electronic) Savings Bonds

Article 1

In order to satisfy the financing demand of investors to savings bonds (electronic) (hereinafter referred to as savings bonds), regulate
the loan business with the pledge of savings bonds, maintain the legitimate rights and interests of both the lender and the borrower,
guard against financial risks, and promote the stable development of treasury bonds market, we hereby formulate the present Measures.

Article 2

The term of “savings bonds” as mentioned in the present Measures refers to the non-negotiable bonds in Renminbi that are released
by the Ministry of Finance within the territory of the People’s Republic of China, are sold to individual investors via pilot commercial
banks (hereinafter referred to as pilot banks) and that register the creditor’s rights in an electronic way.

Article 3

The term of “pilot banks” as mentioned in the present Measures refers to the commercial banks that engage in the pilot sales of savings
bonds upon approval.

Article 4

The present Measures shall be applied in the case that a borrower obtains Renminbi loans from a pilot bank by using his savings bonds
as the pledge.

Article 5

The possession of the loans with the pledge of savings bonds shall be only from the networks of pilot banks that engage in the business
of savings bonds (all the said networks within a same city shall be contained within a same city). When the loans with the pledge
of savings bonds are granted by a pilot bank, the pledge shall be the savings bonds sold within its own system. As applying for the
pledge loans, a borrower shall file an application with the bank where he originally purchased the savings bonds. Upon examination
and approval, the borrower and the lender shall conclude a pledge loan contract, the lender shall freeze the creditor’s rights attached
to the pledged savings bonds and issue a certificate concerning freeze of the creditor’s rights to the borrower at the same time.

Article 6

The savings bonds for pledge loans shall be qualified undue savings bonds. All the savings bonds which are involved in ownership
dispute, have been reported for loss or have been suspended of payment shall not be regarded as the pledge.

Article 7

When the loans with the pledge of savings bonds are applied for by a borrower, he shall have sufficient creditor’s rights attached
to savings bonds, and show the lender his valid identity certificate. when applies for the pledge business on behalf of someone else,
the written entrustment certificate issued by the creditor as well as the valid identity certificates of the creditor and the agent
shall be provided at the same time.

Article 8

The term of the loans with the pledge of savings bonds shall not exceed the expiry date of savings bonds. In case the savings bonds
with different terms are used as the pledge, the term of loans shall be determined in light of the latest expiry date.

Article 9

The minimum amount of loans with the pledge of savings bonds under application shall be 5,000 Yuan, and the lender itself shall determine
each sum of loans subject to the anticipated proceeds from the savings bonds under pledge, loan rate, and loan term, etc., but it
may not be more than 100% of the par value of the savings bonds under pledge.

Article 10

The provisions of the People’s Bank of China concerning the administration of interest rates, shall govern the level of interest
rates and the method to calculate interests of the loans with the pledge of savings bonds.

Article 11

The loans with the pledge of savings bonds shall be returned on time. The provisions of the People’s Bank of China concerning the
administration of interest rates shall govern the punitive interest rates and the method for punitive interests for overdue loans.
Where the execution of undue savings bonds is needed, the lender may cash them through normal procedures for advanced encashment,
deduct a certain proceeds, and collect commissions from the lender according to a certain proportion of the cashed principal. After
the principal and interests of loans as well as the punitive interests are repaid, the remaining money shall be refunded to the borrower.

Article 12

The borrower shall, after paying off the principal and interests of loans subject to the pledge loan contract, require the lender
to remove the freeze of savings bonds upon the strength of the certificate on freeze of creditor’s rights. If the borrower losses
the certificate on freeze of creditor’s rights, he can inform the lender of the loss.

Article 13

The interests of savings bonds derived from the process of pledge shall be pledged together with the principal.

Article 14

A borrower shall, when applies for the loans with the pledge of savings bonds, go through the formalities for the freeze of creditor’s
rights attached to savings bonds as well as the formalities for removing the freeze in a timely manner; and if the improper disposal
of creditor’s rights brings any loss to the lender, the borrower shall assume corresponding liabilities.

Article 15

Where a borrower is dead, his lawful heritor may go through the formalities for transferring and inheriting the related debts subject
to the Inheritance Law of the People’s Republic of China and other related provisions, and continue to perform the pledge loan contract
concluded by the original borrower. If no heritor exists to perform the contract, the lender has the right to dispose the savings
bonds under pledge so as to repay the principal and interests of loans.

Article 16

The People’s Bank of China, the Ministry of Finance, each branch of the People’s Bank of China, and each local bureau of finance
may, together with other related departments, carry out supervision over and inspection of the qualifications, scope of networks
and business procedures, etc. for the pilot banks to engage in the loan business with the pledge of savings bonds, where necessary.

Article 17

The conditions concerning handling the loan business with the pledge of savings bonds shall be regularly reported by a pilot bank
and its branches to the local branch of the People’s Bank of China and the local department of finance.

Article 18

A pilot bank shall, formulate the detailed implementation rules and report them to the People’s Bank of China and the Ministry of
Finance for archival filing according to the present Measures.

Article 19

When handling the loan business with the pledge of savings bonds, any pilot bank shall strictly abide by the present Measures.

Article 20

The power for interpreting the present Measures shall remain with the People’s Bank of China and the Ministry of Finance.

Article 21

The present Measures shall enter into force as of the date of promulgation.



 
The People’s Bank of China, the Ministry of Finance
2006-08-18

 






CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING THE IMPLEMENTATION OF THE INTEREST CLAUSES IN SINO-CANADA AGREEMENT ON TAXATION

Circular of the State Administration of Taxation on the Relevant Issues Concerning the Implementation of the Interest Clauses in Sino-Canada
Agreement on Taxation

Guo Shui Fa [2006] No. 126

The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central
Government and the cities under separate state planning:

Upon the request of the taxation authorities of Canada, the representatives of the taxation authorities of China and Canada have negotiated
on the problems that existed during the implementation of Paragraph 3, Article 11 of Sino-Canada Agreement on Taxation, and have
reached the following consensuses:

I.

Paragraph 3 of Article 11 of the Chinese version shall be amended to be:

“Notwithstanding the provisions of Paragraph 2, the interests occurred in one of the contracting states shall be exempted from taxation
in the state when the interests are:

i.

In respect of Canada:

1.

Paid to the Canadian Government;

2.

Paid to the Bank of Canada;

3.

Paid due to the direct or indirect loans or loans guaranty by Export Development Canada;

4.

Paid to the financial institutions owned by the Canadian Government and recognized by both of the competent authorities of the contracting
states s;

ii.

In respect of the People’s Republic of China:

1.

Paid to the government of the People’s Republic of China;

2.

Paid to the People’s Bank of China;

3.

Paid due to the direct or indirect loans or loans guaranty by the Bank of China or China International Trust and Investment Corporation
(CITIC);

4.

Paid to the financial institutions owned by the government of the People’s Republic of China and recognized by both of the competent
authorities of the contracting states.

II.

The English name of “Canadian Export Development Corporation” in the text of the Agreement shall be changed to be “Export Development
Canada”.

Please carry out the present notice accordingly.

The State Administration of Taxation

August 18, 2006



 
The State Administration of Taxation
2006-08-18

 






REPLY OF THE GENERAL OFFICE OF NATIONAL DEVELOPMENT AND REFORM COMMISSION FOR CONFIRMATION OF THE RE-EXAMINING CONCLUSION OF INDUSTRY STANDARDS OF FERROUS METALLURGY, PETROCHEMICAL, PETROLEUM AND NATURAL GAS AND BOILER AND PRESSURE VESSEL

Reply of the General Office of National Development and Reform Commission for Confirmation of the Re-examining Conclusion of Industry
Standards of Ferrous Metallurgy, Petrochemical, Petroleum and Natural Gas and Boiler and Pressure Vessel

Fa Gai Ban Gong Ye [2006] No.1803

China Iron & Steel Association, China Petrochemical Corporation, China National Petroleum Corporation, China Standardization Committee
on Boiler and Pressure Vessel￿￿

The reexamining conclusion letters of, which you submitted respectively, 251industry standards of ferrous metallurgy, 95 industry
standards of petrochemical, 115 industry standards of petroleum and natural gas and 32 industry standards of boiler and pressure
vessel (Gang Xie Han [2006]No.24, Zhong Guo Shi Hua Ke [2006] No.254, Zhong Guo Shi Hua Ke [2006] No.294, Zhong You Zhi An Han Zi
[2006] No.39, Guo Rong Biao Wei [2005] No.38 ) have been received. We have studied these letters, and hereby reply as follows:

I.

We agree to confirm the lasting effectiveness of the following industry standards: 99 standards of ferrous metallurgy including YB/T084-1996
Hot Rolled High Speed Tool Steel Strips for Machine Hacksaw Blades etc, 79 standards of petrochemical including SH/T0073-1991Test
Methods for Friction-resisting Index of Jet Fuel (Timken) etc, 46 standards of petroleum and natural gas including SY/T0015.1-1998
Code for Design of Oil and Gas Transportation Pipeline Crossing Engineering Underground Crossing Engineering etc, 21 standards of
boiler and pressure vessel including JB/T1609-1993 Technical Specifications for the Manufacturing of Boiler and Barrel. When these
standards are reprinted, the words “Confirmed in 2006” should be printed on the cover of the standard texts.

II.

We agree to abolish the following industry standards: 29 standards of ferrous metallurgy including YB/T5269-1999 Alumina-carbon Block
etc, 7 standards of petrochemical including SH/T0186-1992 Test Method for Thermo-detergency of Normal Internal-combustion Engine-oil
(1135 single-cylinder test method-135A method) etc, 24 standards of petroleum and natural gas including SY0092-1998 Code for Design
of Compressed Natural Gas Fueling Station for Vehicles etc, 5 standards of boiler and pressure vessel including JB/T1614-1994 Testing
Method for Mechanics Property of the Welds of Bearing Parts of Boilers etc. The abolished standards shall be publicized in the form
of announcement by this commission.

III.

The industry standards needed to be revised, which include 123 standards of ferrous metallurgy including YB4102￿￿2000 Welded Steel
Tubes for Low and Medium Pressure Boiler etc, 9 standards of petrochemical including SH/t0074-1991Testing Method for Oxidation Stability
of Thin Film of Gasoline and Machine Oil etc, 45 standards of petroleum and natural gas including the Safety Code of Radiological
Protection from Radioactive Well Logging of Petroleum etc, and 6 standards of boiler and pressure vessel including JB/T2190-1993
Entry Installment of Boilers etc, will be placed on the annul plan under the standardized procedure.

General Office of National Development and Reform Commission

August 22, 2006



 
General Office of National Development and Reform Commission
2006-08-20

 






MINISTRY OF COMMERCE ANNOUNCEMENT NO.65, 2006, ON ARBITRATION OF MIDTERM REVIEW ON ANTI-DUMPING OF STYRENE-BUTADIENE RUBBER (SBR) ORIGINATING FROM RUSSIAN

Ministry of Commerce Announcement No.65, 2006, on Arbitration of Midterm Review on Anti-dumping of Styrene-butadiene Rubber (SBR)
Originating from Russian

No.65 [2006]

Ministry of Commerce released announcement No. 49, 2003 on Sep 9, 2003, deciding to impose anti-dumping duty on SBR originating from
Russia, the Republic of Korea and Japan. The anti-dumping duty rate on Togliatti Kauchuk Ltd. was stipulated to be 25 percent and
the anti-dumping duty rate on Voronezhsintezkauchuk was stipulated to be 38 percent.

Togliatti Kauchuk Ltd. and Voronezhsintezkauchuk submitted applications to Ministry of Commerce on Oct 9, 2005 for midterm review
of dumping and dumping profit margin and provided related supplementary materials in accordance with relevant requirements.

In accordance with preliminary evidences, Ministry of Commerce release announcement of case registration on Dec 6, 2005, deciding
to carry out midterm review of dumping and dumping profit margin on SBR anti-dumping measures applied to Togliatti Kauchuk Ltd. and
Voronezhsintezkauchuk. The investigation scope included normal value, export price and dumping profit margin of the investigated
commodity, the tariff numbers of which were 40021911, 40021912 and 40021919.

In accordance related regulations of article 50 of Anti-dumping Regulations of the People’s Republic of China, Provisional Regulations
of Midterm Review of Dumping and Dumping Profit Margin of Ministry of Commerce and decisions of Tariff Committee of the State Council,
related matters are now announced as follows:

1.

the anti-dumping tax rates of Togliatti Kauchuk Ltd and Voronezhsintezkauchuk are adjusted to be 6.8 percent and 4.02 percent.

2.

As from Aug 22, 2006, importers shall pay anti-dumping duties in line with the adjusted tax rates for importing SBR originating from
Russia and produced by the companies of Togliatti Kauchuk Ltd and Voronezhsintezkauchuk.

3.

The decision takes effect as from Aug 22, 2006.

Appendix: Ministry of Commerce Arbitration of Midterm Review on Styrene-butadiene rubber (SBR) Originating from Russia. (omitted)

Ministry of Commerce

Aug 22, 2006



 
Ministry of Commerce
2006-08-22

 






CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON THE ISSUE OF CLARIFYING THE EFFECTS OF RELEVANT DOCUMENTS OF TAXATION ADMINISTRATION ON BUSINESS CONTACTS AMONG ASSOCIATED ENTERPRISES

Circular of the State Administration of Taxation on the Issue of Clarifying the Effects of Relevant Documents of Taxation Administration
on Business Contacts among Associated Enterprises

Guo Shui Han [2006] No. 807

Bureaus of State Taxation and Local Taxation in all provinces, autonomous regions, municipalities directly under the Central Government
and cities specially designated in the State plan:

Considering that the Circular of the State Administration of Taxation on Revising Regulations for the Taxation Administration on Business
Contacts among Associated Enterprises (Guo Shui Fa [2004] No. 143) is a revision to part of the provisions in the Circular of the
State Administration of Taxation on Printing and Distributing Regulations for the Taxation Administration on Business Contacts among
Associated Enterprises (Guo Shui Fa [1998] No. 059) in accordance with the Law of the People’s Republic of China on Tax Collection
which came into force as of May 1, 2001, and its Detailed Rules for the Implementation of the Law on Tax Collection which came into
force as of October 15, 2002, the two documents are interdependent and inter-complementary. In order to avoid the occurrence of ambiguity
in the administrative enforcement of taxation laws and regulations, it is hereby clarified that the articles and annexes in the document
coded Guo Shui Fa [1998] No. 059 which fail to be revised and abolished by the document coded Guo Shui Fa [2004] No. 143 shall be
still effective.

State Administration of Taxation

August 23, 2006



 
State Administration of Taxation
2006-08-23

 






NOTIFICATION OF THE STATE ADMINISTRATION OF TAXATION ON THE EFFECTIVENESS AND IMPLEMENTATION OF THE AGREEMENT ON THE AVOIDANCE OF DOUBLE TAXATION BETWEEN CHINA AND MOROCCO

Notification of the State Administration of Taxation on the Effectiveness and Implementation of the Agreement on the Avoidance of
Double Taxation between China and Morocco

Guo Shui Fa [2006] No. 125

The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central
Government and the cities specifically designed in the state plan, and all the departments within the State Administration of Taxation,

The Chinese government and the Government of the Kingdom of Morocco have signed the Agreement on the Avoidance of Double Taxation
on Incomes and the Prevention of Tax Dodging & Evasion in Rabat on August 27, 2002. The foreign affairs departments of both governments
have exchanged notes with each other on September 29, 2005 and July 17, 2006 respectively, affirming that the necessary legal procedures
for going into force have been completed. The Agreement shall go into force as of August 16, 2006 and shall be executed as of January
1, 2007 according to the provisions of Article 28 of the Agreement. The State Administration of Taxation has issued to you the text
of the Agreement in the Notice of the State Administration of Taxation on Printing and Distributing the Text of the Agreement on
the Avoidance of Double Taxation and Making Good Preparations for Its Implementation (Guo Shui Han [2002] No. 982) on November 11,
2002. Please execute accordingly.

State Administration of Taxation

August 16, 2006



 
State Administration of Taxation
2006-08-16

 






CONSTITUTION ACT, 1982 – page 22

NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as...

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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