DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON THE REVISION OF THE REGULATIONS OF THE CHINESE PEOPLE’S LIBERATION ARMY ON THE MILITARY SERVICE OF OFFICERS IN ACTIVE SERVICE

Decision of the Standing Committee of the National People’s Congress on the Revision of the Regulations of the Chinese People’s Liberation
Army on the Military Service of Officers in Active Service

In order to further strengthen the building of a revolutionary, younger, better educated and professional officer corps, the Seventh
Meeting of the Standing Committee of the Eighth National People’s Congress, having examined the proposal submitted by the State Council
and the Central Military Commission on Amendments (Draft) to the Regulations of the Chinese People’s Liberation Army on Military
Service of Officers in Active Service, decides to make the following revisions of the Regulations of the Chinese People’s Liberation
Army on the Military Service of Officers in Active Service:

1. Article 3 is revised as follows: “In the selection and use of officers, the principles of appointing people on their merits, stressing
both political integrity and professional competence, attaching importance to actual performance and exchanging officers when appropriate
shall be adhered to, and democratic supervision exercised.

2. Article 9 is revised as follows: “When the number of officers trained in military academies or schools cannot meet the needs, in
peacetime, outstanding soldiers selected and trained in training institutions designated by the People’s Liberation Army’s general
departments may be promoted to officers, or civilian college graduates and other specialized technical personnel may be enrolled
into the Army and commissioned as officers; in wartime, officers may be appointed directly from among soldiers, officers called up
from the reserve service and personnel of non-military departments.”

3. Item (1) of Article 11 is revised as follows: “Officers from the Chief of the General Staff and the Director of the General Political
Department down to the division commander shall be appointed or removed by the Chairman of the Central Military Commission.”

4. Item (2) of Article 11 is revised as follows: “Officers at the level of deputy division commander (or brigade commander) and the
level of regiment commander (or deputy brigade commander) and senior specialized technical officers shall be appointed or removed
by the Chief of the General Staff, the Director of the General Political Department, the Director and Political Commissar of the
General Logistics Department, the commanders and political commissars of the major military commands and of various services and
arms, or the heads of units equivalent to the major military commands; officers at the level of regiment commander (or deputy brigade
commander) in units equivalent to quasi major military commands shall be appointed or removed by the heads of those units.”

5. The following paragraph is added to Article 11 as Paragraph 2: “The appointment and removal of officers described in the preceding
paragraph shall be conducted in accordance with the procedures prescribed by the Central Military Commission.”

6. Article 13 is revised as follows: “The maximum age for operational, political and logistics officers in combat troops in peacetime
shall be:

30 for officers at the platoon level;

35 for officers at the company level;

40 for officers at the battalion level;

45 for officers at the regimental level;

50 for officers at the divisional level;

55 for officers at the corps level; and

63 for officers at the level of deputy commander of the major military command and 65 for officers at the level of commander of the
major military command.”

“The maximum age for officers at the battalion or regimental level aboard naval vessels shall be 45 and 50 respectively.”

“The maximum age for a small number of officers at the divisional or corps level in combat troops may be appropriately extended, provided
this is necessitated by work and approved by the authorities with the prescribed power for appointment and removal. However, the
maximum age extention for officers at the divisional level and at the level of corps commander shall not be more than five years
while the maximum age extention for officers at the level of deputy corps commander shall not be more than three years.”

7. Article 14 is revised as follows: “The maximum age for officers at or below the regimental level in provincial military command
(garrison command) systems, logistics bases and their branch departments, academies and schools, and scientific and technological
institutions shall be determined in accordance with the provisions of the first paragraph of Article 13 of the present Regulations;
the maximum age for officers at the divisional level shall be 55 and for officers at the level of deputy corps commander or corps
commander shall be 58 and 60 respectively.”

8. Paragraph 1 of Article 15 is revised as follows: “The maximum age for officers at or below the battalion level in the offices of
the various general departments and the offices of the major military commands of the People’s Liberation Army shall be determined
in accordance with the provisions of the first paragraph of Article 13 of the present Regulations; the maximum age for officers at
the divisional level shall be 55; the maximum age for officers at the level of deputy corps commander or corps commander shall be
58 and 60 respectively. The maximum age for officers at the regimental level in the offices of the general departments shall be
45 and may be extended for five years when necessitated by work; the maximum age for officers at the regimental level in the offices
of the major military commands shall be 45, and the maximum age for a small number of such officers when necessitated by work may
be extended for three years.”

9. Paragraph 1 of Article 16 is revised as follows: “The maximum age for specialized technical officers in peacetime shall be:

40 for junior specialized technical officers;

48 for intermediate specialized technical officers; and

60 for senior specialized technical officers.”

10. Paragraph 2 of Article 26 is revised as follows: “The disciplinary sanctions shall fall into the following categories: warning;
serious warning; recording of a demerit; recording of a serious demerit; demotion to a lower post, demotion to a lower rank or grade;
dismissal from post; disciplinary discharge from the military service and other disciplinary sanctions prescribed by the Central
Military Commission.”

11. Article 29 is revised as follows: “A system linking salary to post and military rank and a regular salary increase system shall
be instituted for officers, who shall also enjoy allowances and subsidies in accordance with the relevant regulations of the State
and the Army. The specific measures shall be prescribed by the Central Military Commission.

“Officers shall continue to draw their salaries, when they in accordance with the relevant regulations receive off-service training,
vacation, medical treatment or recuperation, or when they wait for new assignments after being relieved of their duties.”

12. Article 34 is revised as follows: “Officers shall retire from active service when they reach the maximum age for active service
in peacetime.”

“The maximum age for officers in active service in peacetime shall be:

55 for officers at the divisional level in combat troops; and

58 for officers at the level of deputy corps commander and 60 for officers at the level of corps commander in combat troops.”

“The maximum age for officers in active service at other levels shall be the same as the maximum age for their posts.”

13. Paragraph 5 of Article 37 is revised as follows: “As regards officers who have been in active service for 30 years or more, or
who have been in active service and have worked for the State for a total of 30 years or more, or who are aged 50 or more at or above
the divisional level may be treated as pensioners, provided that they are released from active service upon approval of their applications
for retirement by the competent authorities; and those who are at the regimental level and not suitable for transference to civilian
jobs or other arrangements may be treated as pensioners, provided their retirement is approved by the competent authorities.”

14. Article 39 is renumbered Article 38. Article 38 is renumbered Article 39 and revised as follows: “The affairs of officers who
have been retired from active service shall be administered by the government. Specific measures shall be prescribed by the State
Council and the Central Military Commission.” The following paragraph is added as Paragraph 2 of this Article: “The affairs of officers
who have left their posts to rest or who are at or above the corps level when they retire shall be administered in accordance with
relevant regulations of the State Council and the Central Military Commission.”

The present Decision shall enter into effect as of the date of promulgation.

The Regulations of the Chinese People’s Liberation Army on the Military Service of Officers in Active Service shall be revised in
accordance with the present Decision and repromulgated.

MOFTEC P.R.C.

EDITOR:Victor

REGULATION FOR THE IMPLEMENTATION OF TRADEMARK LAW

Regulation for the Implementation of Trademark Law puts into effect

Author:Chen Zhixin Du Xiaoxi

Beijing,September 19(chinacourt.org) Regulation for the Implementation of Trademark Law of the People s Republic of China puts into effect on September 15th 2002.

Xu Jianxin, the Section Chief of Trademark office of Shen Yang Industry and Commerce Bureau, said that the main characteristic of
the new statute which was enhancing the protection on famous trademark. At the same time it gave the persons more powers to punish
the actions of infringing on trademark. The Department of Industry and Commerce was enpost_titled to amerce a fine less than 100 thousand
RMB.

It is reported, the revised Trademark Law and Regulations for the Implementation are enhancing the protection on exclusive right
of trademark and increasing the number of punishing fine. The infringing goods will be confiscated. If somebody s action had broken
the law, he would be investigated the criminal responsibility.

According to the Regulation for the Implementation ,trademark holder can make an application to the charge department of enterprise
name registration for removing the name of infringing registration.

In addition, geography trademark can be protected as attestation of trademark and registration of collectivity trademark.

Source:China Court Net

TRANSLATOR:Victor EDITOR:Jeff

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ENTERPRISE INCOME TAX PREFERENTIAL POLICES TO BE ENJOYED BY ENTERPRISES WITH FOREIGN INVESTMENT WHICH INCREASE INVESTMENTS

The Ministry of Finance, the State Administration of Taxation

Circular of the Ministry of Finance and the State Administration of Taxation on Enterprise Income Tax Preferential Polices to Be Enjoyed
by Enterprises with Foreign Investment Which Increase Investments

CaiShui [2002] No.56

June 1, 2002

The financial departments (bureaus) and state taxation bureaus of all provinces, autonomous regions, municipalities directly under
the Central Government and municipalities separately listed on the State plan, the local taxation bureaus of Guangdong and Hai’nan,
Local Taxation Bureau of Shenzhen, the Financial Bureau of Xinjiang Army Corps of Production and Construction:

For a period of time , it has been reported in many regions whether enterprises with foreign investment may, if increasing investments
to enlarge the orperational scale beyond the original contract , enjoy and calculate separately the proceeds of the time income
tax perferential treatment from such increased investment items, provided for in Article 8 of the Income Tax Law of the People’s
Republic of China on Enterprises with Foreign Investment and Foreign Enterprises (hereinafter referred to as the Tax Law) in contrast
with the Circular of the Ministry of Finance and the State Administration of Taxation on Several Provisions concerning the Issue
of Levy of the Income Tax from Chinese-Foreign Equity Joint Ventures, Chinese-Foreign Cooperative Production Enterprises and Wholly
Foreign-Owned Enterprises (CaiShuiWaiZi [1986] No.102). After study, we hereby, in accordance with the relevant provisions in the
Tax Law and the detailed rules for its implementation, give our notice as follows concerning the issue of enterprises with foreign
investment enjoying the income tax perferential treatment due to their increase of investment items with a view to encouraging large
transnational companies to invest in China, improving the efficiency of China’s utilization of foreign investments and further improving
the tax preferential polices::

For any enterprise with foreign investment which engages in the encouraged category of projects in the Catalogue for the Guidance
of Foreign Investment Industries approved by the State Council and meets any of the following conditions, the investor may, with
regard to the proceeds from investment items beyond the original contract, separately calculate and enjoy the regularly reduced or
exempted enterprise income tax preferential treatment provided for in Paragraphs 1 and 2 of Article 8 of the Tax Law:

(1)

the newly increased amount of registered capital due to the increase of investment is no less than 60 million USD;

(2)

the newly increased amount of registered capital due to the increase of investment is no less than 150 million USD, and also no less
than 50% of the enterprise’ original registered capital.

The execution of the above tax preferences must be based upon the application of the enterprise involved and the approval of the
taxation organ at the provincial level. Each taxation organ at the provincial level shall submit the information on its approval
to the Ministry of Finance and the State Administration of Taxation for record.

II.

An enterprise with foreign investment shall distinguish its production and operation of the increased investment items from the production
and operation of the original investments, and shall separately set up account books and documents, and accurately calculate the
respective taxable income. Where an enterprise with foreign investment fails to reasonably calculate the respective taxable income,
the taxation organ may reasonably divide the respective taxable income on the basis of such proportion as income, assets, etc. of
the enterprise.

III.

This Circular shall enter into force as of January 1, 2002. Where the investments increased by an enterprise with foreign investment
before January 1, 2002 meet the conditions in this Circular, the enterprise may, among the years for tax reduction and exemption
as determined in the Tax Law, enjoy the preferential treatment for the years after January 1, 2002, and the tax amount levied before
January 1, 2002 shall not be refunded.

The Ministry of Finance, the State Administration of Taxation
2002-06-01

CIRCULAR OF THE STATE TAXATION ADMINISTRATION ON RELEVANT ISSUES CONCERNING THE REFUND OF ENTERPRISE INCOME TAX TO FOREIGN INVESTORS UPON THEIR REINVESTMENT

The State Taxation Administration

Circular of the State Taxation Administration on Relevant Issues concerning the Refund of Enterprise Income Tax to Foreign Investors
upon their Reinvestment

GuoShuiFa [2002] No.90

July 17, 2002

The state taxation bureaus of all provinces, autonomous regions and municipalities directly under the Central Government and municipalities
srparately listed on the State plan, Guangdong Provincial Local Taxation Bureau and Shenzhen City Local Taxation Bureau:

Recently, some questions concerning the implementation of the preferential policies on tax refund upon reinvestment, which need to
be further clarified, are raised by some regions. In order to regulate the implementation of the preferential policies on tax refund
upon reinvestment, which are provided for in the Income Tax Law of the People’s Republic of China on Enterprises with Foreign Investment
and Foreign Enterprises(hereinafter referred to as the Tax Law) and in the Detailed Rules for its implementation, we hereby clarify
the relevant issues as follows:

In case an enterprise with foreign investment, pursuant to the resolutions of the board of directors, make re-investment by increasing
its registered capital financed from the Accumulation Fund (or the Development Fund or the Reserve Fund) that it has set aside from
its after-tax profits in accordance with the relevant provisions, the part of the reinvestment in the said increase of the enterprise’s
registered capital which is contributed by the foreign investor is enpost_titled to a tax refund to the foreign investor upon reinvestment
in accordance with Article 10 of the Tax Law and other relevant provisions.

II.

Being used directly as investment to establish other enterprises with foreign investment as mentioned in Paragraph 1 of Article 80
of the Detailed Rules for the Implementation of the Tax Law shall include the following circumstances:

(1)

being directly used as reinvestment to establish another enterprise with foreign investment, and such reinvestment constitutes the
registered capital of the new enterprise;

(2)

being directly used as reinvestment to increase the registered capital of an existing enterprise with foreign investment.

A foreign investor shall not, if using the profits it obtained from the enterprise with foreign investment as reinvestment to purchase
other investors equity share in an existing enterprise, but not increasing the registered capital or the operational fund of the
said enterprise, enjoy the preferential treatment of tax refund upon such reinvestment.

III.

A foreign investor that uses its foreign currency reserve as reinvestment shall regard the Renminbi converted on the basis of the
foreign currency quote price announced by the State on the day when the reinvested enterprise actually received the investment amount,
as the reinvestment amount for calculating the tax to be refunded upon reinvestment.

IV.

Where a foreign investor makes one or more than one reinvestments by using the its after-tax profits derived from a fiscal year, the
accumulative reinvestment amount for calculating the tax to be refunded shall not exceed the limited amount calculated from the following
formula:

The limited reinvestment amount = (the taxable income of the enterprise with foreign investment in the year when the after-tax profits
are obtained – the enterprise income tax actually paid by the enterprise with foreign investment in the year) * the equity share
(or profit distribution proportion) held by the foreign investor in the enterprise with foreign investment in the year

Where a foreign investor reinvests all its annual after-tax profits derived from the enterprise with foreign investment in the same
year, and the accumulative reinvestment amount is lower than the above said limited amount, the tax to be refunded shall be calculated
on the basis of the actual reinvestment amount; if the accumulative reinvestment amount exceeds the above said limited amount, the
tax to be refunded shall be calculated on the basis of the limited amount, and the part in excess shall not be enpost_titled to tax refund.

The enterprise with foreign investment with 100% of shares held by foreign investors, which engage wholly in investment business as
provided for in the Official Reply of the State Taxation Administration on the Relevant Issues concerning the Tax Refund upon Enterprises
with Foreign Investment Reinvestment (GuoShuiHanFa [1995] No.154), shall include enterprises which engage wholly in investment business
and in business relating to investment.

Business relating to investment shall be limited to what is stipulated in the Interim Provisions on Foreign-funded Investment Companies
promulgated by the Ministry of Foreign Trade and Economic Cooperation on April 4, 1995 and their supplementary provisions, i.e.,
services provided by a foreign-funded company within the business scope in its business license to its subsidiaries in which it has
invested, such as purchase of raw materials, sale of products and after-sale service, financial and other ancillary services, like
financial and technical supports, etc., as well as research and development, consulting, training and export business as authorized
to be engaged in by the company inside or outside of the subsidiaries it has invested in.

The State Taxation Administration
2002-07-17

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON THE REVISION OF THE REGULATIONS ON THE MILITARY RANKS OF OFFICERS OF THE PEOPLE’S LIBERATION ARMY

Decision of the Standing Committee of the National People’s Congress on the Revision of the Regulations on the Military Ranks of Officers
of the People’s Liberation Army

Beijing,November 4(chinacourt.org) In order to further improve the system of military ranks of officers, the Seventh Meeting of the Standing Committee of the Eighth
National People’s Congress, having examined the proposal submitted by the Central Military Commission on Amendments (Draft) to the
Regulations on the Military Ranks of Officers of the Chinese People’s Liberation Army, decides to make the following revisions of
the Regulations on the Military Ranks of Officers of the Chinese People’s Liberation Army:

1. Article 7 is revised as follows: “Officers’ ranks shall be classifed into the following ten grades under three categories:

(1) Generals: General, Lieutenant General, Major General;

(2) Field officers: Senior Colonel, Colonel, Lieutenant Colonel, Major; and

(3) Junior officers: Captain, Lieutenant, Second Lieutenant.”

2. Paragraph 1 of Article 10 is revised to consist of two paragraphs. The first paragraph is to read: “The Central Military Commission
of the People’s Republic of China commands the armed forces of the country. The Central Military Commission practises a system wherein
its Chairman assumes overall responsibility. No military rank shall be conferred on the Chairman of the Central Military Commission”.
The second paragraph is to read: “The ranks of the Vice-chairmen of the Central Military Commission by virtue of their posts shall
be General.” Paragrap 2 of Article 10 is renumbered as Paragraph 3, and revised as follows: “The ranks of members of the Central
Military Commission by virtue of their posts shall be General.”

3. Article 11 is revised as follows: “The ranks for operational, political and logistics officers by virtue of their posts shall
be as follows:

Chief of the General Staff and Director of the General Political Department of the People’s Liberation Army: General;

Officers at the level of commander of a major military command: General or Lieutenant General;

Officers at the level of deputy commander of a major military command: Lieutenant General or Major General;

Officers at the level of corps commander: Major General or Lieutenant General;

Officers at the level of deputy corps commander: Major General or Senior Colonel;

Officers at the level of division commander: Senior Colonel or Major General;

Officers at the level of deputy division commander (or brigade commander): Colonel or Senior Colonel;

Officers at the level of regiment commander (or deputy brigade commander): Colonel or Lieutenant Colonel;

Officers at the level of deputy regiment commander: Lieutenant Colonel or Major;

Officers at the level of battalion commander: Major or Lieutenant Colonel;

Officers at the level of deputy battalion commander: Captain or Major;

Officers at the level of company commander: Captain or Lieutenant;

Officers at the level of deputy company commander: Lieutenant or Captain; and

Officers at the level of platoon leader: Second Lieutenant or Lieutenant.”

4. Paragraph 2 of Article 12 is revised as follows: “Intermediate specialized technical officers: from Senior Colonel to Captain.”
Paragraph 3 is revised as follows: “Junior specialized technical officers: from Lieutenant Colonel to Second Lieutenant.”

5. Paragraph 2 of Article 16 is deleted.

6. Item (1) of Article 17 is revised as follows: “In peacetime, an interval for an officer to be promoted shall be: two years for
officers who are graduates of two-or three-year college or other institutions of higher learning to be promoted from Second Leutenant
to Lieutenant, three years for others without such college education, and four years for officers to be promoted from Lieutenant
to Captain, from Captain to Major, from Major to Lieutenant Colonel, from Lieutenant Colonel to Colonel or from Colonel to Senior
Colonel. Officers with the rank of Senior Colonel or above shall be promoted selectively on the basis of their posts, their political
integrity and professional competence and their contributions to the building of national defence.”

7. One article is added as Article 22: “If an officer whose appointment as Vice-chairman or a member of the Central Military Commission
has been decided is to be promoted to a General, the rank of General shall be conferred by the Chairman of the Central Military Commission.”

8. Article 22 is renumbered Article 23, and revised as follows: “Except for the cases as provided by Article 22 of the present Regulations,
promotion of officers’ ranks shall be approved by the authorities with the prescribed power for appointment and removal. However,
the promotion of ranks of the following officers shall be appoved in accordance with the following provisions:

(1) An officer at the level of deputy division commander (or brigade commander) to be promoted to Senior Colonel, or a specialized
technical officer to be promoted to Senior Colonel, Major General or Lieutenant General shall be approved by the Chairman of the
Central Military Commission;

(2) A specialized technical officer to be promoted to Colonel shall be approved by the head of a general department of the People’s
Liberation Army, of a major military command, of one of the services or arms of the Army or of a unit equivalent to a major military
command; and

(3) An officer at the level of deputy battalion commander to be promoted to Major, or a specialized technical officer to be promoted
to Major or Lieutenant Colonel shall be approved by the head of a combined corps or of a unit at the corps level that has the power
to appoint and remove officers.”

This Decision shall come into force as of the date of promulgation.

The Regulations on the Military Ranks of Officers of the Chinese People’s Liberation Army shall be revised in accordance with the
present Decision and repromulgated.

MOFTEC P.R.C.

EDITOR:Victor

REGULATIONS OF THE P.R.C. ON SINO-FOREIGN COOPERATION IN THE DEVELOPMENT OF CONTINENTAL PETROLEUM RESOURCES

Regulations of the P.R.C. on Sino-Foreign Cooperation in the Development of Continental Petroleum ResourceS

CHAPTER ONE GENERAL PROVISIONS CHAPTER TWO RIGHTS AND OBLIGATIONS OF FOREIGN CONTRACTORS CHAPTER THREE PETROLEUM OPERATIONS CHAPTER
FOUR SETTLEMENT OF DISPUTES CHAPTER FIVE LEGAL RESPONSIBILITIES CHAPTER SIX SUPPLEMENTARY PROVISIONS

CHAPTER ONE GENERAL PROVISIONS

Article 1. The regulations are formulated to safeguard the development of the petroleum industry and promote international economic cooperation
and technical exchange.

Article 2. Cooperative development of continental oil resources by Chinese and foreign partners within the territory of the People’s Republic
of China shall abide by the provisions of this set of regulations.

Article 3. The petroleum resources within the territory of the People’s Republic of China are owned by the State of the People’s Republic of
China.

Article 4. The Chinese government protects the activities, investment, profits and other legitimate rights and interests of foreign enterprises
participating in the cooperative development of continental petroleum resources.

Foreign partners participating in the cooperative development of continental oil resources within the territory of the People’s Republic
of China shall observe the relevant laws, decrees and regulations of the People’s Republic of China and accept the supervision and
management of the relevant departments of the Chinese government.

Article 5. The State shall not requisition the investment and gains of foreign partners participation in the cooperative development of oil
resources. In special circumstances, it may requisition part or all the petroleum due to foreign partners according to the legal
procedures to meet the demand of the public interests and shall give a corresponding amount of compensation.

Article 6. The departments or units authorized by the State Council are responsible for demarcating cooperative blocks, determining the forms
of cooperation, organizing the drafting of relevant plans and policies, examining and approving the master development plans for
cooperative development of oil and gas resources within the cooperative areas approved by the State Council.

Article 7. The China National Oil and Gas Exploration and Development Corporation (CNOGEDC) is responsible for the operations of the cooperative
development of continental oil resources, including holding talks, signing and executing contracts on cooperative development of
oil resources with foreign enterprises. It has the exclusive right in exploration, development and production of oil resources in
cooperation with foreign enterprises within the regions for cooperative development of oil resources approved by the State Council.

Article 8. CNOGEDC is responsible for signing contracts with foreign enterprises on cooperative development of continental oil resources by
way of inviting tenders or holding talks according to the cooperative blocks within the areas for cooperative development of continental
oil resources approved by the State Council. The contracts shall become valid after they are approved by the Ministry of Foreign
Trade and Economic Cooperation (MFTEC) of the People’s Republic of China.

CNOGEDC can also sign other contracts with foreign enterprises for cooperation on projects other than those provided for in the preceding
paragraph within the areas for cooperative development of continental oil resouces approved by the State Council and submit the contracts
for the record to MFTEC.

Article 9. After the cooperative blocks are made public, no other enterprises are allowed to enter the blocks to engage in oil exploration
and development except CNOGEDC, nor are they allowed to sign agreements with foreign enterprises on economic and technical cooperation
in oil development within the areas.

Enterprises which enter the blocks for oil exploration (at the stage of assessment exploration stage) before the cooperative blocks
are made public shall withdraw from the blocks after CNOGEDC has signed contracts with foreign enterprises. The data obtained from
the initial exploration by the enterprises shall be sold by CNOGEDC and the proceeds shall be made compensation for the investment
of the enterprises. If the enterprises have discovered oil (gas) of commercial value, they may participate in the development by
way of investment in the blocks from which they withdraw.

The departments or units authorized by the State Council shall make regular adjustment of the cooperative blocks according to the
contracts signed and the execution of the contracts.

Article 10. The cooperative development of continental oil resources shall follow the principle of taking into consideration both the interests
of the central government and the localities concerned, allowing the localities within the blocks to invest in the development of
oil (gas) resources of commercial value.

The people’s governments concerned shall protect the normal production and business activities within the cooperative blocks according
to law and provide effective assistance in terms of the use of land, road and logistic services.

Article 11. Partners in cooperative development of continental oil resources shall pay taxes and royalties according to law.

Article 12. Tax reduction, exemption or other favorable treatments shall be granted with regard to importing equipment and materials for the
purpose of performing the contracts. The specific measures shall be formulated by the Ministry of Finance together with the State
General Administration of Customs.

Chapter Two Rights and Obligations of Foreign Contractors

Article 13. CNOGEDC must sign contracts with foreign enterprises (hereinafter referred to as “foreign contractors”) for cooperative development
of continental oil resources and, except otherwise provided for by law, regulations or contracts, the foreign contractors shall alone
provide the investment to carry out exploration, be responsible for exploration operations and bear all exploration risks. After
a commercial oil (gas) field is discovered, both the foreign contractor and the CNOGEDC shall provide the investment for its cooperative
development and the foreign contractor shall be responsible for the development operations and production operations until CNOGEDC
takes over the production operations as according to the contracts.

Article 14. The foreign contractor may, in accordance with the provisions of the contract, recover its investment and expenses and receive remuneration
out of the petroleum (gas) produced.

Article 15. Foreign contractors may export the petroleum due to them and the petroleum they purchase according to the relevant State regulations
and the provisions of the contracts and may also remit abroad the investment they recover, profits and other legitimate income according
to law.

The shares of petroleum due to foreign contractors if to be sold within the territory of China, shall be unifiedly bought up by CNOGEDC.

Article 16. Foreign contractors shall open accounts with the banks approved by the State to handle foreign exchange businesses within the territory
of China and observe the State regulations on foreign exchange control.

Article 17. Foreign contractors shall open branches or representative offices in China according to law.

Article 18. In carrying out the petroleum contracts, foreign contractors shall use advanced technology and managerial experience and shall be
obliged to transfer the technology and pass on the experience to the Chinese side and undertake the training of Chinese personnel.

In petroleum operations, foreign contractors must gradually increase the proportions of Chinese personnel.

Article 19. In the process of performing the contracts, foreign contractors must promptly and accurately report to CNOGEDC on the situation
of petroleum operation, and must acquire complete and accurate numerical data, records, samples, vouchers and other original data
with respect to various aspects of the petroleum operation and regularly submit to CNOGEDC the necessary data and samples as well
as various technological, economic, financial and accounting and administrative reports.

Article 20. All the assets procured or built by foreign contractors in performing contracts, except those leased from a third party, shall be
owned by CNOGEDC after investment by the foreign contractors has been compensated for or after the expiration of the production period
of the oil (gas) fields. But foreign contractors may use these assets according to the provisions of the contract during the contract
period.

CHAPTER THREE PETROLEUM OPERATIONS

Article 21. Operator must formulate overall development programmes for the oil (gas) fields according to the regulations on the development
of petroleum resources of the State and submit to the departments or units concerned authorized by the State Council for approval
and can start development and production only after the programmes are approved.

Article 22. In purchase of machinery and equipment, raw materials, accessories, means of transport and office supplies necessary for oil development
operations, preference should be given to those of China made provided that these are competitive.

In employment of personnel or sub-contractors needed in oil development operations, preference should be given to Chinese citizens
and sub- contractors according to the provisions of the contracts.

Article 23. Operators and sub-contractors shall abide by the State laws, regulations and standards in environmental protection and safe operations
in carrying out oil development operations and shall follow the commonly accepted international practices in operation to protect
the farmland, aquatic products, forests and other natural resources and prevent polluting or damaging the air, sea, rivers, lakes,
underground water and other land environment.

Article 24. In cases where land is used in oil operations, the provisions of the “Land Management Law of the People’s Republic of China” and
other relevant provisions shall be observed.

Article 25. CNOGEDC shall have the ownership of all the data, records, samples, vouchers and other original data obtained from the petroleum
operations as stipulated in Article 19 of these regulations.

The use, transfer, donation, exchange, sales, publication or shipping out of the territory of the People’s Republic of China of the
data, records, samples, vouchers and other original data listed in the preceding paragraph must be conducted in accordance with the
relevant regulations of the State.

CHAPTER FOUR SETTLEMENT OF DISPUTES

Article 26. Any disputes arising between the parties to a contract on cooperative development of continental oil resources shall be settled through
consultation or mediation. If the parties concerned refuse consultation or mediation or consultation and mediation fail to settle
the disputes, the case shall be referred to the Chinese arbitration organizations or other arbitration organizations according to
the arbitration clauses of the contracts or the written arbitration agreements reached after the contracts are signed.

In absence of such arbitration clauses in the contracts or the written arbitration agreements reached afterwards, the parties concerned
may bring the case before the Chinese people’s court.

CHAPTER FIVE LEGAL RESPONSIBILITIES

Article 27. If there is one of the following cases that violate the provisions of this set of regulations, the departments or units authorized
by the State Council shall give a warning for correction within a prescribed time limit; if a correction is not made within the time
limit, an order may be given to stop oil operations. If the case is serious enough to constitute a crime, the criminal responsibilities
shall be affixed.

1. Violate the provisions of the first paragraph of Article 9 of this set of regulations by entering the Sinoforeign cooperative
blocks to carry out oil exploration or signed oil development cooperation agreements with foreign enterprises;

2. Violate the provisions of Article 19 of this set of regulations by failing to make timely and accurate reports about the oil operations
to CNOGEDC or failing to submit data and samples or technological, economic, financial and accounting and administrative reports
concerning the oil operations to CNOGEDC.

3. Violate the provisions of Article 21 of this set of regulations by starting oil development and production before the overall
development programme is approved.

4. Violate the provisions of paragraph 2 of Article 25 by using the data, records, samples, vouchers and other original data or transfer,
donate, exchange, sell and publish such records, samples, vouchers and other original data or ship or deliver them out of the territory
of the People’s Republic of China without approval.

Article 28. Cases that violate the provisions of Article 11, Article 16, Article 23 and Article 24 shall be punished according to law and other
regulations by the departments in charge under the State Council. If the cases are serious enough to constitute crimes, criminal
responsibilities shall be affixed.

CHAPTER SIX SUPPLEMENTARY PROVISIONS

Article 29. The terms used in these Regulations shall have the following definitions:

1. “Petroleum” means crude oil and natural gas deposited underground, currently being extracted or already extracted.

2. “Continental oil resources” means all the petroleum resources deposited underground of the land (including sea polders, islands
and the territory sea waters outreaching five meters).

3. “Exploitation” means, in general, the exploration for, and development, production, and marketing of petroleum and other related
activities.

4. “Petroleum operation” means all exploration, development, production operations and other related activities conducted in carrying
out the petroleum contracts.

5. “Exploration operations” means all work done to locate the petroleum- bearing traps by means of geological, geophysical and geochemical
methods including drilling exploratory wells, etc. and all work done to determine the commerciality of discovered petroleum traps,
including appraisal drilling, feasibility studies and preparation of the overall development programme for an oil (gas) field.

6. “Development operations” means all the work of designing, construction, installation, drilling etc., and the related research
work carried out for petroleum oil production from the date of the approval of the overall development programme for an oil (gas)
field, including production activities carried out before the commencement of commercial production.

7. “Production operations” means all operations and related activities for producing petroleum conducted after the date of commencement
of commercial production of an oil (gas) field.

Article 30. The provisions of Article 4, Article 11, Article 12, Article 15, Article 16, Article 17 and Article 22 apply to foreign contractors.

Article 31. The Regulations come into force as of the date of promulgation.

MOFTEC P.R.C.

EDITOR:Victor

RULES FOR THE ESTABLISHMENT OF FOREIGN-SHARED SECURITIES COMPANIES

The China Securities Regulatory Commission

Decree of the China Securities Regulatory Commission

No.8

The Rules for the Establishment of Foreign-shared Securities Companies are hereby promulgated, and shall come into force on July 1,
2002.

Chairman of the China Securities Regulatory Commission Zhou Xiaochuan

June 1, 2002

Rules for the Establishment of Foreign-shared Securities Companies

Article 1

To meet the demand of opening the securities market, to strengthen and improve the supervision and administration of foreign-shared
securities companies and to clarify the preconditions and procedures for the establishment of foreign-shared securities companies,
the Rules is therefore formulated in accordance with relevant provisions of the Company Law and the Securities Law.

Article 2

Foreign-shared securities companies as referred to in the Rules shall include domestic securities companies whose shares are transferred
to or purchased by foreign shareholders or those that are co-funded by foreign and domestic shareholders.

Article 3

The China Securities Regulatory Commission (hereinafter referred to as CSRC) shall be responsible for the examination, approval, supervision
and administration of foreign-shared securities companies.

Article 4

The organizational structure of a foreign-shared securities company shall be that of limited liability. The name, registered capital,
founding and functions of the departments of a foreign-shared securities company shall be compliant with the relevant provisions
of the Company Law, the Securities Law and CSRC.

Article 5

A foreign-shared securities company may engage in the following businesses:

Underwriting of shares (including RMB ordinary shares and foreign shares) and bonds (including bonds issued by the government and
companies);

Brokerage of foreign shares;

Brokerage and proprietary dealing of bonds (including bonds issued by the government and companies);

Other businesses approved by the CSRC. The foreign shares as used in the preceding paragraph shall refer to domestic listed foreign
shares (B-shares) and overseas listed foreign shares. The securities company shall file the application for business scope to the
CSRC according to the first paragraph of this Article. Those engaging in the lead underwriting of stocks shall obtain the license
for share lead underwriting in accordance with the provisions of the CSRC on the administration of share lead underwriting license
for securities companies.

Article 6

A foreign-shared securities company shall possess the following qualifications:

The registered capital is in accordance with the provisions of the Securities Law on the registered capital of comprehensive securities
companies;

The shareholders should possess the qualifications as provided for by the Rules, and the proportion and form of their capital contribution
be in accordance with the provisions of the Rules;

Staff members that have obtained the qualifications as securities practitioners according to the provisions of the CSRC shall be no
less than 50, and there shall be professionals in accounting, law and computer as required.

The company should have sound systems of internal management and risk control, separate systems of organization, personnel, information
and business execution for such businesses as underwriting, brokerage and proprietary trading and a well-designed technical system
for internal control.

The company should own the operating place and other facilities for transactions as required.

Other prudential conditions provided for by the CSRC.

Article 7

The foreign shareholders of a foreign-shared securities company shall possess the following qualifications:

Their home countries shall have sound legal and regulatory systems on securities transactions, and the securities regulatory bodies
should have signed the memorandums of understanding on securities regulation with the CSRC, and maintained effective cooperation
with the CSRC;

They have legitimate qualifications for securities dealing in their home countries and have engaged in the financial business for
no less than 10 years without being imposed severe punishments by the securities regulatory bodies and judicial departments during
the past 3 years;

The various risk supervision indicators during the past three years should conform to the legal provisions and the requirements of
the securities regulatory bodies of their home countries;

Having sound internal control systems;

Having good reputation and sound track record on the international securities market;

Other prudential conditions provided for by the CSRC.

Article 8

The domestic shareholders of a foreign-shared securities company shall possess the qualifications as shareholders of securities companies
as provided for by the CSRC. At least one of the domestic shareholders of a foreign-shared securities company shall be a domestically
funded securities company. However, it does not include foreign-shared securities companies changed from domestically funded securities
companies.

Article 9

The domestic shareholders may invest by cash and tangible objects essential for the business operation; while the foreign shareholders
shall invest by free convertible currencies.

Article 10

The shares held by foreign shareholders or the equity possessed by them (both directly and indirectly) in a foreign-shared securities
company should not exceed one third of the total. At least one of the domestic shareholders of a domestic-funded securities company
shall hold o less than one third of the shares or equity of the company. As for a foreign-shared securities company changed from
a domestically funded securities company, at least one domestic shareholder shall hold no less than one third of the shares.

Article 11

The board chairman, general manager, and deputy general manager of a foreign-shared securities company shall possess the qualifications
as senior management of securities companies as provided for by the CSRC.

Article 12

To apply for the establishment of a foreign-shared securities company, the representatives appointed or the agents entrusted by the
shareholders shall submit the following documents to the CSRC:

The application form jointly signed by legal representatives or authorized representatives of the domestic and foreign shareholders;

Contract and draft corporate statute for the establishment of the foreign-shared securities company;

Application forms of qualified candidates for the board chairman, general manager and deputy general manager of the foreign-shared
securities company;

Photocopies of the business license or registration certificate and securities transaction credentials of the shareholders;

Audited financial statements of the foreign and domestic shareholders of the year prior to the application;

Statements issued by the securities regulatory bodies of the home countries of the foreign shareholders on whether those shareholders
possess the qualifications as provided for in Items 2) and 3) of Article 7 of the Rules;

Legal opinions presented by law firms in China qualified for securities-related businesses.

Article 13

The CSRC shall, according to relevant laws, administrative regulations and the Rules, examine the application materials as provided
for in the preceding paragraph, and shall decide on whether to approve the application within 45 working days upon receipt of valid
application materials, and shall notify the applicant in writing. For those unapproved applications, reasons shall be explained to
the applicants in writing.

Article 14

The shareholders shall contribute the capital in full or provide the cooperative conditions as agreed upon, elect the board of directors,
decide on members of the senior management, and apply to competent administrations for industry and commerce for registration of
establishment and claim the business license within 6 months as of the issuance of approval by the CSRC.

Article 15

The board chairman or authorized representatives of a foreign-shared securities company shall, within 15 working days as o the issuance
of the business license, submit the following documents to the CSRC and apply for the License for Securities Business:

A copy of the business license;

The company statute;

A capital verification report produced by an accounting firm in China qualified for securities-related businesses;

A name list and resumes of the directors, supervisors and other members of the senior management, a name list of the main business
personnel and copies of their credentials for securities business;

A written version of the internal control system regulations;

Descriptions of the operating place and transaction facilities.

Article 16

The CSRC shall, according to related laws, administrative regulations and the Rules, examine the application materials as provided
for in the preceding paragraph, and shall decide within 15 working days upon receipt of valid application materials. For those that
meet the requirements, the License for Securities Business shall be granted; for those that fail to meet the requirements, the license
shall not be granted and reasons shall be explained in writing.

Article 17

A foreign-shared securities company is not allowed to operate in the securities business without the License for Securities Business
issued by the CSRC.

Article 18

Domestically funded securities companies applying to be changed into foreign-shared securities companies should meet the requirements
provided for in Article 6 of the Rules. Foreign shareholders purchasing or holding shares of domestic-funded securities companies
shall meet the requirements provided for in Article 7 of the Rules, and the proportion of the purchased shares or the capital contribution
thereof shall conform to the provisions of Article 10 of the Rules.

Article 19

Domestically funded securities companies applying for a change to foreign-shared securities companies shall submit the following documents
to the CSRC:

An application form signed by the legal representative;

Decision of the shareholders’ meeting on changing the company into a foreign-shared securities company;

Draft company statute

Agreement on share transfer or capital contribution (agreement on share purchase);

A name list and resumes of the personnel appointed by the foreign investors to take post in that securities company;

The business license or registration certificates of the foreign shareholders and copies of their credentials for the securities business;

Audited financial statements of the foreign shareholders of the year prior to the application;

Plans for eliminating businesses that are prohibited from a foreign-shared securities company by related laws;

10)

Legal opinions issued by a law firm in China qualified for securities-related businesses.

Article 20

The CSRC shall, according to related laws, administrative regulations and the Rules, examine the application materials as provided
for in the preceding paragraph, and shall decide within 30 working days upon receipt of valid application materials, and shall notify
the applying securities companies in writing, for those that fail to get the approval, reasons shall be explained in writing.

Article 21

Securities companies approved for the change shall, within 6 months as of the issuance of the approval by the CSRC, complete the transfer
of shares or added investment, eliminate the businesses banned from a foreign-shared securities company by related laws, and shall
apply to competent administrations for industry and commerce for alteration registration and claim the new business license by returning
the original one.

Article 22

A securities company approved for the change shall, within 15 working days as of the alteration registration, submit the following
documents to the CSRC, and apply for the new License for Securities Business:

A copy of the business license;

Corporate statute of the foreign-shared company;

Original license for securities business and copies thereof of the company;

A capital verification report presented by an accounting firm in China qualified for the securities business;

Work report on the elimination of the businesses that are banned from a foreign-shared securities company by related laws;

Legal opinions and verification report on the above-mentioned elimination issued by a law firm and an accounting firm qualified for
securities-related businesses.

Article 23

The CSRC shall, according to related laws, administrative regulations and the Rules, examine the application materials as provided
for in the preceding paragraph, and shall decide on whether to approve it within 45 working days upon receipt of valid application
materials, for those that meet the requirements, the new License for Securities Business shall be granted, and for those that fail
to meet the requirements, the new license shall not be granted, and reasons shall be explained to them in writing.

Article 24

A securities company newly established or continuing to exist after the merger of foreign-shared securities companies or the merger
between a foreign-shared securities company and a domestically funded one shall meet the requirements for the establishment of a
foreign-shared securities company as provided for by the Rules; its business scope and the proportion of the shares or equity held
by the foreign shareholders shall conform to the provisions of the Rules. If the securities companies established as a result of
the split of a foreign-shared securities company still have foreign shareholders, their business scope and the proportion of the
shares or equity held by the foreign shareholders shall be in accordance with the provisions of the Rules.

Article 25

The application materials and documents submitted to the CSRC as provided for in the Rules shall be in Chinese. If the documents
and materials of the foreign shareholders and those issued by the securities regulatory bodies of their home countries are in foreign
languages, the Chinese versions consistent with the original documents shall also be submitted. If the documents and materials submitted
fail to fully describe the circumstances of the applicant, the CSRC may require the applicant to make supplementary statements.

Article 26

The Rules should be equally applicable to investors from the Hong Kong Special Administration Region, the Macao Special Administration
Region and the Taiwan area holding shares in securities companies.

Article 27

Other related provisions not covered by the Rules should be applicable for the establishment, alteration, termination and business
activities of foreign-shared securities companies and the supervision and management thereon.

Article 28

The Rules shall enter into force as of July 1, 2002.

The China Securities Regulatory Commission
2002-06-01

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO ON THE
RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

The Government of the People’s Republic of China and the Government of the Republic of Trinidad and Tobago, hereinafter referred to
as the Contracting Parties;

Desiring to intensify economic cooperation between both States on the basis of equality and mutual benefits;

Recognizing that the reciprocal encouragement, promotion and protection of investments will be conducive to stimulating business initiatives
of investors and the economic development of both States;

Intending to create favourable conditions for investment by investors of one Contracting Party in the territory of the other Contacting
Party;

Agreeing that these objectives can be achieved without relaxing health, safety and environmental measures of general application;

Respecting the sovereignty and laws of the Contracting Party within whose jurisdiction the investment falls;

Have agreed as follows:

Article 1

Definitions

For the purpose of this Agreement:

“investment” means every kind of asset invested by investors of one Contracting Party in accordance with the laws and regulations
of the other Contracting Party in the territory of the latter and in particular, though not exclusively, includes:

(a)

movable and immovable property as well as any other property rights such as mortgages, liens and pledges;

(b)

shares, stock, debentures and any other form of participation in a company;

(c)

claims to money, or to any performance under contract having an economic value associated with an investment, loans only being included
when they are directly related to an investment;

(d)

intellectual property rights including copyrights, patents, industrial designs, trademarks, trade names, technical processes, know-how
and goodwill;

(e)

business concessions conferred by law or under contract permitted by law, including concessions to search for, cultivate, extract
or exploit natural resources;

Any change in the form in which assets are invested shall not affect the character of the assets as investments, provided that such
change is done in conformity with laws and regulations of the Contracting Party in which the assets are invested.

“investors” means:

(a)

natural persons who have nationality of either Contracting Party in accordance with the laws of that Contracting Party;

(b)

economic entities, including companies, corporations, associations, partnerships and other organizations, incorporated and constituted
under the laws and regulations of either Contracting Party and which have their seats in that Contracting Party.

“nationals” means those persons referred to in 2 (a) above.

“returns ” means the amounts yielded from an investment and in particular, though not exclusively, includes profits, interests, capital
gains, dividends, royalties and fees;

“territory” means:

(a)

in respect of the People’s Republic of China, the territory of the People’s Republic of China, (including the land area, internal
waters, territorial sea and airspace above them), as well as any marine area beyond its territorial sea in which the People’s Republic
of China has sovereign rights or jurisdiction in accordance with the law of the People’s Republic of China and international law;

(b)

in respect of the Republic of Trinidad and Tobago: the Archipelagic State of Trinidad and Tobago, comprising the several islands of
the Republic of Trinidad and Tobago, its archipelagic waters, territorial sea and airspace thereof, together with the adjacent submarine
areas of the Exclusive Economic Zone and the continental shelf beyond the territorial sea over which Trinidad and Tobago exercises
sovereign rights or jurisdiction in accordance with the laws of Trinidad and Tobago and with international law.

Article 2

Application of Agreement

This Agreement shall apply to all investments, which are made prior to or after its entry into force by investors of either Contracting
Party in accordance with the laws and regulations of the other Contracting Party in the territory of the latter, but the provisions
of this Agreement shall not apply to any dispute, claim or difference which arose before its entry into force.

Article 3

Promotion and Protection of Investments

Each Contracting Party shall encourage and create favourable conditions for investors of the other Contracting Party to invest in
its territory and shall admit such investments in accordance with its laws and regulations.

Investments of the investors of each Contracting Party shall be accorded fair and equitable treatment and shall enjoy full protection
and security in the territory of the other Contracting Party.

Without prejudice to its laws and regulations, neither Contracting Party shall in any way impair by unreasonable or discriminatory
measures the management, maintenance, use, enjoyment or disposal of investments in its territory by the investors of the other Contracting
Party.

Returns from investments and in the event of their re-investment, the returns wherefrom shall enjoy the same protection as the investments.

Article 4

National and Most-Favoured-Nation Treatment

For the purposes of this Article, “activities associated with the investments” means the operation, management, maintenance, use,
enjoyment or disposal of those investments by the investor.

Without prejudice to its laws and regulations, each Contracting Party shall accord to investments or returns and activities associated
with the investments by investors of the other Contracting Party treatment not less favorable than that accorded to the investments
or returns and associated activities of its own investors.

Neither Contracting Party shall subject investments or returns and activities associated with the investments by the investors of
the other Contracting Party to treatment less favorable than that accorded to the investments or returns and associated activities
by the investors of investors of any third State.

The treatment granted under this Article shall not relate to privileges which either Contracting Party accords to investors of third
States on account of its membership in, or association with, a customs or economic union, a common market or a free trade area.

The treatment granted under this Article shall not relate to advantages which either Contracting Party accords to investors of third
States by virtue of a double taxation agreement or other international agreement regarding matters of taxation.

Article 5

Compensation for Losses

Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war or
other armed conflict, a state of national emergency, revolt, insurrection or riot or other similar event in the territory of the
latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation
or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or to investors
of any third State. Resulting payments shall be freely transferable.

Article 6

Expropriation

Neither Contracting Party shall expropriate, nationalize or take other similar measures (hereinafter referred to as “expropriation”)
against the investments of the investors of the other Contracting Party in its territory, except:

(a)

for the public purpose;

(b)

under domestic law;

(c)

without discrimination;

(d)

against compensation.

The compensation mentioned in Paragraph 1 of this Article shall be equivalent to the market value of the expropriated investments
immediately before the expropriation is taken or before the impending expropriation becomes public knowledge, whichever is the earlier.
The value shall be determined in accordance with generally recognized principles of valuation. The compensation shall include interest
at a normal commercial rate from the date of expropriation until the date of payment. The compensation shall be made without delay,
be effectively realizable and be freely transferable.

The investor affected shall have a right, under the law of the Contracting Party making the expropriation, to prompt review, by a
judicial or other independent authority of that Contracting Party, of his or its case and of the valuation of his or its investment
in accordance with the principles set out in this Article.

Article 7

Transfers

Each Contracting Party shall, subject to its laws and regulations, grant to the investors of the other Contracting Party the unrestricted
transfer of their investments and returns held in its territory, including:

(a)

profits, dividends, interest and other current income;

(b)

proceeds obtained from the total or partial sale or liquidation of investments;

(c)

payments pursuant to loans referred to in Article 1 (c);

(d)

royalties and fees;

(e)

earnings of nationals of the other Contracting Party who are allowed to work in connection with an investment in the territory of
the former Contracting Party.

(f)

capital and additional sums necessary for the maintenance and development of the investments;

(g)

compensation provided for in Article 5 .

Nothing in Paragraph 1 of this Article shall affect the free transfer of compensation paid under Article 6 of this Agreement.

Transfers shall be made in a freely convertible currency and at the applicable prevailing market rate of exchange in the territory
of the Contracting Party accepting the investment and on the date of transfer.

Article 8

Entry, Sojourn and Employment

Within the framework of their national law the Contracting Parties shall permit the entry, sojourn and employment of nationals of
one Contracting Party in connection with an investment made in the territory of the other Contracting Party and shall provide assistance
in and facilitate the obtaining of visas and work permits for such nationals.

Article 9

Subrogation

If one Contracting Party or its designated agency makes a payment to its investor under an indemnity given in respect of an investment
made in the territory of the other Contracting Party, the latter Contracting Party shall recognize the assignment of all the rights
and claims of the indemnified investor to the former Contracting Party or its designated agency, by law and the right of the former
Contracting Party or its designated agency to exercise by virtue of subrogation any such right to the same extent as the investor.

Article 10

Settlement of Disputes Between One Contracting Party and an Investor of the Other Contracting Party

For purposes of this Agreement, an “investment dispute” is a dispute between a Contracting Party and an investor of the other Contracting
Party, concerning an obligation of the former under this Agreement in relation to an investment of the latter.

In the event of an investment dispute, the Parties to the investment dispute should initially seek a resolution through consultation
and negotiation. If the investment dispute cannot be settled amicably within six months from the date of written notification of
a claim, the investor that is a Party to an investment dispute may submit the investment dispute for resolution under one of the
following alternatives:

(a)

to the courts or administrative tribunals of the Contracting Party that is a Contracting Party to the investment dispute; or

(b)

to international arbitration in accordance with paragraph 3 below, provided that the Contracting Party involved in the dispute may
require the investor concerned to exhaust the domestic administrative review procedures specified by the laws and regulations of
that Contracting Party before submission of the dispute to the aforementioned arbitration procedure;

Where the dispute is referred to international arbitration, the investor concerned may submit the dispute either to:

(a)

the International Center for the Settlement of Investment Disputes (having regard to the provisions, where applicable, of the Convention
on the Settlement of Investment Disputes between States and Nationals of Other States, opened for signature at Washington D. C on
18th March 1965; or

(b)

an ad hoc arbitral tribunal to be appointed by a special agreement or established under the Arbitration Rules of the United Nations
Commission on International Trade law;

(c)

an international arbitrator to be appointed by a special agreement of the parties to the investment dispute.

The tribunal referred to in Paragraph 3 (a), (b) and (c) of this Article shall adjudicate in accordance with the law of the Contracting
Party to the dispute accepting the investment including its rules on the conflict of laws, the provisions of this agreement as well
as the applicable principles of international law.

Any arbitral award rendered pursuant to this Article shall be final and binding on the parties to the investment dispute. Each Contracting
Party shall carry out without delay the provisions of any such award.

In any proceeding involving an investment dispute, a Contracting Party shall not assert, as a defense, counterclaim, right of set-off
or for any other reason, that indemnification or other compensation for all or part of the alleged damages has been received or will
be received by the investor concerned pursuant to a commercial insurance or guarantee contract. This provision shall not apply to
any payments made under Article 9 .

Article 11

Settlement of Disputes Between the Contracting Parties

Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, if possible, be
settled through diplomatic channels.

If the dispute has not been settled within a period of six months from the date on which the matter was raised by either Contracting
Party, it may be submitted at the request of either Contracting Party to an Arbitral Tribunal.

Such an Arbitral Tribunal shall be constituted ad hoc as follows: each Contracting Party shall appoint one member, and these two members
shall agree upon a national of a third State having diplomatic relations with both Contracting Parties, as the chairman to be appointed
by the two Contracting Parties. Such members shall be appointed within two months, and such chairman within four months from the
date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an Arbitral
Tribunal.

If within the periods specified in paragraph 3 above the necessary appointments have not been made, either Contracting Party shall,
in the absence of any other arrangement, invite the President of the International Court of Justice to make the necessary appointments.
If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the
Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party
or if he, too, is prevented from discharging the said function, the member of the Court next in seniority who is not a national of
either Contracting Party or is not otherwise prevented from discharging the said functions, shall be invited to make the necessary
appointments.

Unless otherwise agreed, all submissions shall be made and all hearings shall be completed within six months of the date of selection
of the chairman. The Arbitral Tribunal panel shall reach its decision by a majority of votes, and it shall render its decisions within
two months of the date of final submissions or date of the closing of the hearing whichever is later. The Arbitral Tribunal shall
reach its award in accordance with the provisions of this Agreement and the principles of international law recognized by both Contracting
Parties. The Arbitral Tribunal shall, upon the request of either Contracting Party, explain reasons for its award. Such decisions
shall be binding on both Contracting Parties. Each Contracting Party shall bear the cost of its own member of the Tribunal and of
its representation in the arbitral proceedings; the cost of the Chairman and the remaining costs shall be borne in equal parts by
the Contracting Parties. The Tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one
of the two Contracting Parties, and this award shall be binding on both Contracting Parties. The Tribunal shall determine its own
procedure.

Article 12

Relations Between Contracting Parties

The provisions of the present Agreement shall apply irrespective of the existence of diplomatic or consular relations between the
Contracting Parties.

Article 13

Application of Other Rules

If the law of either Contracting Party or obligations under international law existing at present or established hereafter between
the Contracting Parties in addition to the present Agreement contain rules, whether general or specific, entitling investments by
investors of the other Contracting Party to treatment more favourable than is provided for by the present Agreement, such rules shall,
to the extent that they are more favourable, prevail over the present Agreement.

Each Contracting Party shall observe any commitments it may have entered into with the investors of the other Contracting Party as
regards their investments.

Article 14

Consultation

The representatives of the Contracting Parties shall hold meetings from time to time for the purpose of:

(a)

reviewing the implementation of and proposals for amendment of this Agreement;

(b)

exchanging legal information and investment opportunities;

(c)

resolving disputes arising out of investments;

(d)

forwarding proposals on promotion of investments;

(e)

studying other issues in connection with investments.

Where either Contracting Party requests consultation on any matter of Paragraph 1 of this Article, the other Contracting Party shall
give prompt response and the consultation shall be held alternatively in Beijing and Port of Spain.

Article 15

Amendment

Any provision of this Agreement may be amended by mutual agreement between the Contracting Parties. Any such amendment shall be confirmed
by an Exchange of Diplomatic Notes.

Article 16

Entry into Force, Duration and Termination

Each Contracting Party shall notify the other in writing of the completion of the domestic legal procedures required in its territory
for the entry into force of this Agreement. This Agreement shall enter into force on the date of the latter of the two notifications.

This Agreement shall remain in force for a period of ten years. Thereafter it shall continue in force until the expiration of twelve
months from the date on which either Contracting Party shall have given written notice of termination to the other Contracting Party.

With respect to investments made whilst the Agreement is in force, its provisions shall continue in effect with respect to such investments
for a period of ten years after the date of termination.

In witness whereof the undersigned, duly authorized thereto by their respective Governments, have signed this Agreement.

Done in duplicate at Port of Spain on the date of 22nd July, 2002 in the Chinese and English languages, both texts being equally authentic.

For the Government of theFor the Government of the

People’s Republic of ChinaRepublic of Trinidad and Tobago

The Government of the People’s Republic of China
2002-07-22

ELECTORAL LAW OF THE NATIONAL PEOPLE’S CONGRESS AND LOCAL PEOPLE’S CONGRESS

Electoral Law of the National People’s Congress and Local People’s Congress of the PRC

CHAPTER I GENERAL PROVISIONS

CHAPTER II NUMBER OF DEPUTIES TO THE LOCAL PEOPLE’S CONGRESSES AT VARIOUS LEVELS

CHAPTER III NUMBER OF DEPUTIES TO THE NATIONAL PEOPLE’S CONGRESS CHAPTER IV ELECTIONS AMONG MINORITY NATIONALITIES

CHAPTER V ZONING OF ELECTORAL DISTRICTS

CHAPTER VI REGISTRATION OF VOTERS

CHAPTER VII NOMINATION OF CANDIDATES FOR DEPUTIES

CHAPTER VIII ELECTION PROCEDURE

CHAPTER IX SUPERVISION, RECALL AND BY-ELECTIONS HELD TO FILL VACANCIES

CHAPTER X SANCTIONS AGAINST DISRUPTION OF ELECTIONS

CHAPTER XI SUPPLEMENTARY PROVISIONS

Article 1 The Electoral Law of the National People’s Congress and Local People’s Congresses is formulated in accordance with the Constitution
of the People’s Republic of China.

Article 2 Deputies to the National People’s Congress and to the People’s Congresses of provinces, autonomous regions, municipalities directly
under the Central Government, cities divided into districts, and autonomous prefectures shall be elected by the people’s congresses
at the next lower level.

Deputies to the people’s congresses of cities not divided into districts, municipal districts, counties, autonomous counties, townships,
nationality townships, and towns shall be elected directly by their constituencies.

Article 3 All citizens of the People’s Republic of China who have reached the age of 18 shall have the right to vote and stand for election,
regardless of ethnic status, race, sex, occupation, family background, religious belief, education, property status or length of
residence.

Persons who have been deprived of political rights according to the law shall not have the right to vote and stand for election.

Article 4 Each voter shall have the right to vote only once in an election.

Article 5 Elections shall be conducted separately in the People’s Liberation Army, and the procedures for such elections shall be formulated
separately.

Article 6 Among deputies to the National People’s Congress and local people’s congresses at various levels, there shall be an appropriate number
of women deputies, and the proportion thereof shall be raised gradually.

The National People’s Congress and the local people’s congresses of the areas with a relatively large number of returned overseas
Chinese shall have an appropriate number of deputies who are returned overseas Chinese.

Citizens of the People’s Republic of China who reside abroad but who are in China during the election of deputies to people’s congresses
at or below the county level may take part in such elections conducted in their ancestral home town or place of domicile before they
went abroad.

Article 7 The Standing Committee of the National People’s Congress shall conduct the election of deputies to the National People’s Congress.
The standing committees of the people’s congresses of provinces, autonomous regions, municipalities directly under the Central Government,
cities divided into districts, and autonomous prefectures shall conduct the elections of deputies to the people’s congresses at the
corresponding levels.

In cities divided into districts, municipal districts, counties, autonomous counties, townships, nationality townships, and towns,
election committees shall be established to conduct the election of deputies to the people’s congresses at the corresponding levels.
The election committees of cities not divided into districts, municipal districts, counties and autonomous counties shall be under
the leadership of the standing committees of the people’s congresses at the corresponding levels. The election committees of townships,
nationality townships, and towns shall be under the leadership of the standing committees of the people’s congresses of cities not
divided into districts, municipal districts, counties and autonomous counties.

The standing committees of the people’s congresses of provinces, autonomous regions, municipalities directly under the Central Government,
cities divided into districts, and autonomous prefectures shall direct the work of electing deputies to the people’s congresses at
or below the county level in their administrative areas.

Article 8 Election funds for the National People’s Congress and the local people’s congresses at various levels shall be disbursed by the State
Treasury.

CHAPTER II NUMBER OF DEPUTIES TO THE LOCAL PEOPLE’S CONGRESSES AT

Article 9 The number of deputies to the local people’s congresses at various levels shall be determined in accordance with the following provisions:

(1) The base number of deputies to the people’s congress of a province, an autonomous region or a municipality directly under the
Central Government is 350. For a province or an autonomous region, one more deputy may be added for every one hundred fifty thousand
people, and for a municipality directly under the Central Government, one more deputy may be added for every twenty-five thousand
people, however, if the population of a province exceeds one hundred million, the total number of its deputies shall not exceed 1,000;

(2) The base number of deputies to the people’s congresses of a city divided into districts or an autonomous prefecture is 240. One
more deputy may be determined for every twenty-five thousand people; however, if the population of the city or autonomous prefecture
exceeds ten million, the total number of its deputies shall not exceed 650;

(3) The base number of deputies to the people’s congresses of a county, an autonomous county, a city not divided into districts or
a municipal district is 120. One more deputy may be added for every five thousand people; however, if the population there exceeds
one million six hundred fifty thousand, the total number of deputies shall not exceed 450; if the population is less than fifty thousand
people, the total number of deputies may be less than 120;

(4) The base number of deputies to the people’s congress of a township, a nationality township or a town is 40. One more deputy may
be added for every one thousand five hundred people; however, if the population of a township or a nationality township exceeds ninety
thousand, the total number of its deputies shall not exceed 100; if the population of a town exceeds one hundred thirty thousand,
its total number of its deputies shall not exceed 130; if the population of a township, a nationality township or a town is less
than two thousand, the total number of its deputies may be less than 40.

The base number of deputies to a local people’s congress plus the number of deputies added according to the size of the local population
as stipulated in the preceding paragraph shall be the total number of deputies to the local people’s congress.

The number of deputies to the people’s congresses of an autonomous region or a province where many minority nationalities live in
concentrated community may, upon decision of the Standing Committee of the National People’s Congress, be added by five percent.
The number of deputies to the people’s congress of a county, an autonomous county, a township or a nationality township where many
minority nationalities live in concentrated communities or people live in scattered groups may, upon decision of the standing committee
of the people’s congress of a province, an autonomous region or a municipality directly under the Central Government, be added by
five percent of the total.

Article 10 The specific number of deputies to the people’s congress of a province, an autonomous region or a municipality directly under the
Central Government shall be determined by the Standing Committee of the National People’s Congress according to this Law. The specific
number of deputies to the people’s congress of a city divided into districts, an autonomous prefecture, or a county shall be determined
by the standing committee of the people’s congress of a province, an autonomous region or a municipality directly under the Central
Government according to this Law and reported to the Standing Committee of the National People’s Congress for the record. The specific
number of deputies to the people’s congress at the township level shall be determined by the Standing Committee of the people’s congress
at the county level according to this Law and reported to the standing committee of the people’s congress at the next higher level
for the record.

Article 11 Once the total number of deputies to a local people’s congress at any level is determined, it shall no longer be changed. If the
size of the population is changed considerably due to the change of the division in the administrative regions or the construction
of major projects or other reasons, the total number of deputies to the people’s congress at the corresponding level shall be re-determined
according to this Law.

Article 12 The number of deputies to the people’s congresses of autonomous prefectures, counties and autonomous counties shall be allocated
by the standing committees of the people’s congresses at the corresponding levels, in accordance with the principle that the number
of people represented by each rural deputy is four times the number of people represented by each town deputy. Townships, nationality
townships, and towns with exceptionally small populations shall have at least one deputy in the people’s congresses of their respective
counties and autonomous counties.

In the administrative areas of counties or autonomous counties which have towns with exceptionally large populations, or have enterprises
and institutions not under the leadership of the people’s governments at or below the county level whose workers and staff account
for a relatively large portion of the county’s total population, the ratio between the number of people represented by a rural deputy
and the number of people represented by a town deputy or a deputy of an enterprise or institution may, upon a decision made by the
standing committee of the people’s congress of the province, autonomous region, or municipality directly under the Central Government,
be smaller than four to one, even to the extent of one to one.

Article 13 In municipalities directly under the Central Government, cities and municipal districts, the number of people represented by a rural
deputy shall be greater than the number of people represented by an urban deputy.

Article 14 The number of deputies to the people’s congresses of provinces or autonomous regions shall be allocated by the standing committees
of the people’s congresses at the corresponding levels, in accordance with the principle that the number of people represented by
each rural deputy is four times the number of people represented by each urban deputy.

CHAPTER III NUMBER OF DEPUTIES TO THE NATIONAL PEOPLE’S CONGRESS

Article 15 Deputies to the National People’s Congress shall be elected by the people’s congresses of the provinces, autonomous regions, and
municipalities directly under the Central Government and by the People’s Liberation Army.

The number of deputies to the National People’s Congress shall not exceed 3,000. The allocation of the number of deputies shall be
decided by the Standing Committee of the National People’s Congress in accordance with existing conditions.

The number of deputies to the National People’s Congress to be elected by the Hong Kong Special Administrative Region and the Macao
Special Administrative Region and the methods for their elections shall be prescribed separately by the National People’s Congress.

Article 16 The number of deputies to the National People’s Congress to be elected by the provinces, autonomous regions, and municipalities directly
under the Central Government shall be allocated by the Standing Committee of the National People’s Congress in accordance with the
principle that the number of people represented by each rural deputy is four times the number of people represented by each urban
deputy.

Article 17 The number of deputies to the National People’s Congress to be elected by minority nationalities shall be allocated by the Standing
Committee of the National People’s Congress, in the light of the population and distribution of each minority nationality, to the
people’s congresses of the various provinces, autonomous regions, and municipalities directly under the Central Government, which
shall elect them accordingly. Nationalities with exceptionally small populations shall each have at least one deputy.

CHAPTER IV ELECTIONS AMONG MINORITY NATIONALITIES

Article 18 In areas where minority nationalities live in concentrated communities, each minority nationality shall have its deputy or deputies
sit in the local people’s congress.

Where the total population of a minority nationality in such an area exceeds 30 percent of the total local population, the number
of people represented by each deputy of that minority nationality shall be equal to the number of people represented by each of the
other deputies to the local people’s congress.

Where the total population of a minority nationality in such an area is less than 15 percent of the total local population, the number
of people represented by each deputy of that minority nationality may be appropriately smaller, but shall not be less than half the
number of people represented by each of the other deputies to the local people’s congress. In autonomous counties where the population
of the minority nationality practising regional autonomy is exceptionally small, the number of people represented by each deputy
of this minority nationality may, upon a decision made by the standing committee of the people’s congress of the province or autonomous
region, be less than half the number of people represented by each of the other deputies. Other nationalities with exceptionally
small populations living in concentrated communities shall each have at least one deputy.

Where the total population of a minority nationality in such an area accounts for not less than 15 percent and not more than 30 percent
of the total local population, the number of people represented by each deputy of that minority nationality may be appropriately
smaller than the number of people represented by each of the other deputies to the local people’s congress, but the allocated number
of deputies to be elected by that minority nationality shall not exceed 30 percent of the total number of deputies.

Article 19 In autonomous regions, autonomous prefectures and autonomous counties, and in townships, nationality townships, and towns where a
certain minority nationality lives in a concentrated community, the provisions of Article 18 of this Law shall apply to the election
to the local people’s congresses of deputies of other minority nationalities and the Han nationality also living in concentrated
communities in such areas.

Article 20 With respect to minority nationalities living in scattered groups, the number of people represented by each of their deputies to
the local people’s congresses may be less than the number of people represented by each of the other deputies to such congresses.

In autonomous regions, autonomous prefectures and autonomous counties, and in townships, nationality townships, and towns where a
certain minority nationality lives in a concentrated community, the provisions of the preceding paragraph shall apply to the election
to the local people’s congresses of deputies of other minority nationalities and the Han nationality living in scattered groups in
such areas.

Article 21 In cities not divided into districts, municipal districts, counties, townships, nationality townships, and towns where various minority
nationalities live in concentrated communities, the minority nationality electorates may vote separately or jointly in the election
of deputies to the local people’s congress, depending on the relations between the nationalities, and their residential situation
in such areas.

In autonomous counties and in townships, nationality townships, and towns where a certain minority nationality lives in a concentrated
community, the provisions of the preceding paragraph shall apply to the election to the respective people’s congresses of deputies
of other minority nationalities and the Han nationality living in such areas.

Article 22 The electoral documents, roll of voters, voter registration cards, list of candidates for deputies, deputies’ election certificates
and election committee seals made or published by autonomous regions, autonomous prefectures and autonomous counties shall be in
the written languages of the nationalities commonly used in the locality.

Article 23 Other matters concerning elections among minority nationalities shall be handled with reference to the provisions of the relevant
articles of this Law.

CHAPTER V ZONING OF ELECTORAL DISTRICTS

Article 24 The number of deputies to the people’s congresses in cities not divided into districts, municipal districts, counties, autonomous
counties, townships, nationality townships, and towns shall be allocated to the electoral districts, and elections shall be held
in the electoral districts. The zoning of electoral districts may be decided according to the voters’ residence or on the basis of
production units, institutions and work units.

The zoning of electoral districts shall be decided on the basis of one to three deputies to be elected from each electoral district.

Article 25 The number of people represented by each deputy from an urban electoral district shall be generally the same. The number of people
represented by each deputy from a rural electoral district shall be generally the same.

CHAPTER VI REGISTRATION OF VOTERS

Article 26 The registration of voters shall be conducted on the basis of electoral districts, and the voters’ qualifications confirmed through
registration shall have long-term validity. Prior to each election, voters who have reached the age of 18 since the last registration
of voters or who have had their political rights restored after a period of deprivation of political rights has expired, shall be
registered. Voters who have moved out of the electoral districts where they originally registered shall be included in the roll of
voters in the electoral districts to which they have newly moved; those who are deceased or have been deprived of political rights
according to law shall be removed from the roll.

Citizens who suffer from mental illness and are incapable of exercising their electoral rights shall, upon determination by the election
committee, not be included in the roll of voters.

Article 27 The roll of voters shall be made public 20 days prior to the date of election. and voter registration cards shall be issued. Where
voters take part in elections and cast their votes on the strength of their voter registration cards, they shall be issued voter
registration cards.

Article 28 Anyone who has an objection to the roll of voters may appeal to the election committee. The election committee shall make a decision
on the appeal within three days. If the appellant is not satisfied with the decision, he may bring a suit in the people’s court at
least five days prior to the date of election, and the people’s court shall make a judgment before the date of election. The judgment
of the people’s court shall be final.

CHAPTER VII NOMINATION OF CANDIDATES FOR DEPUTIES

Article 29 Candidates for deputies to the national and local people’s congresses shall be nominated on the basis of electoral districts or electoral
units.

Political parties and people’s organizations may either jointly or separately recommend candidates for deputies. A joint group of
at least ten voters or deputies may also recommend candidates. Those who submit recommendations shall inform the election committee
or the presidium of the congress of their candidates’ backgrounds.

Article 30 The number of candidates for deputies to the national and local people’s congresses shall be greater than the number of deputies
to be elected.

The number of candidates for deputies to be directly elected by the voters shall be from one third to 100 percent greater than the
number of deputies to be elected; the number of candidates for deputies to be elected by various local people’s congresses to the
people’s congresses at the next higher level shall be 20 to 50 percent greater than the number of deputies to be elected.

Article 31 Candidates for deputies to the people’s congresses to be directly elected by the voters shall be nominated by the voters in the various
electoral districts and by the various political parties and people’s organizations. The election committee shall collect and publish,
15 days prior to the date of election, the list of nominees for deputies for repeated deliberation, discussion and consultation by
voter groups in the respective electoral districts and shall decide, in accordance with the opinion of the majority of voters, upon
a formal list of candidates to be made public five days prior to the date of election.

When a local people’s congress at or above the county level is to elect deputies to a people’s congress at the next higher level,
the time for nominating and deliberating candidates for such deputies shall not be less than two days. The presidium of the people’s
congress at the said level shall print and distribute the list of the candidates nominated according to law to all the deputies for
deliberation and discussion. If the number of the nominees conforms to the proportion for competitive election as provided in Article
30 of this Law, balloting competitive election shall be held directly. If the number of the nominees exceeds the maximum proportion
for competitive election as provided by Article 30 of this Law, preliminary election shall be held. By the order of the number of
votes that the nominees have obtained in the preliminary election, a formal list of candidates shall be determined in agreement with
the specific proportion for competitive election as it contained in the measures of election adopted by the people’s congress at
that level in accordance with this Law, and then balloting shall be held.

Article 32 When a local people’s congress at or above the county level is to elect deputies to the people’s congress at the next higher level,
the nominees for deputies shall not be limited to the current deputies to the lower people’s congress.

Article 33 The election committee or the presidium of the people’s congress shall brief voters or deputies on the candidates for deputies.
Political parties, people’s organizations, voters and deputies that have nominated candidates for deputies may brief voters on those
candidates at group meetings of voters or deputies. However, such briefings must stop on the day of election.

Article 34 Where voters directly elect deputies to a people’s congress, they shall, as prescribed by the election committee, be issued ballots
on the strength of their identification cards or voter registration cards. In each electoral district, polling stations shall be
set up, mobile polling boxes provided or election meetings held for the election. Balloting shall be presided over by the election
committee.

Article 35 Where a local people’s congress at or above the county level is to elect deputies to the people’s congress at the next higher level,
the election shall be presided over by the presidium of the lower people’s congress.

Article 36 The election of deputies to the national and local people’s congresses shall be by secret ballot.

If a voter is illiterate or handicapped and is therefore unable to write his ballot, he may entrust another person to write it for
him.

Article 37 A voter may vote for or against a candidate for deputy and may vote instead for any other voter or abstain.

Article 38 A voter who is absent from his electoral district during the time of an election may, with the approval of the election committee
and by written authorization, entrust another voter with a proxy vote. A voter shall not stand proxy for more than three persons.

Article 39 When balloting has been concluded, scrutineers and votecounters elected by the voters or deputies, and members of the election committee
or members of the presidium of the people’s congress shall check the number of people who voted against the number of votes cast
and make a record of it; the record shall be signed by the scrutineers.

Article 40 An election shall be null and void if the number of votes cast is greater than the number of people who voted, and it shall be valid
if the number of votes cast is less than the number of people who voted.

A ballot shall be null and void if more candidates are voted for than the number of deputies to be elected, and it shall be valid
if fewer candidates are voted for than the number of deputies to be elected.

Article 41 In a direct election of deputies to the people’s congresses, the election shall be valid, if more than half of all the voters in
an electoral district cast their votes. Candidates for deputies shall be elected only if they have obtained more than half of the
votes cast by the voters that take part in the election.

When a local people’s congress at or above the county level is to elect deputies to a people’s congress at the next higher level,
candidates for deputies shall be elected only if they have obtained more than half of the votes of all the deputies.

Where the number of candidates who have obtained more than half of the votes exceeds the number of deputies to be elected, the ones
who have obtained more votes shall be elected. Where the number of votes for some candidates is tied, making it impossible to determine
the ones to be elected, another balloting shall be conducted for these candidates to resolve the tie, and the ones who have obtained
more votes shall be elected.

If the number of elected deputies who have obtained more than half of the votes is less than the number of deputies to be elected,
another election shall be held to make up the difference. When another election is held, the name list of candidates shall, by order
of the number of votes they have obtained in the first balloting, be determined in accordance with the proportion for competitive
election as provided in Article 30 of this Law. If only one deputy is to be elected, the number of candidates shall be two.

When another election is held to elect deputies to the people’s congress at the county or township level in accordance with the provisions
in the preceding paragraph, the candidates who have obtained more votes than the others shall be elected; however, the number of
the votes they have obtained shall not be less than one-third of the votes cast. When another election is held by the local people’s
congress at or above the county level to elect deputies to the people’s congress at the next higher level, the candidates shall be
elected only when they have obtained a majority vote of all the deputies.

Article 42 The election committee or the presidium of the people’s congress shall determine, in accordance with this Law, whether or not the
result of an election is valid and shall announce it accordingly.

CHAPTER IX SUPERVISION, RECALL AND BY-ELECTIONS HELD TO FILL VACANCIES

Article 43 All deputies to the national and local people’s congresses shall be subject to the supervision of the voters and the electoral units
which elect them. Both the voters and electoral units shall have the right to recall the deputies they elect.

Article 44 With respect to deputies to the people’s congress at the county or township level, a group of thirty or more voters in the electoral
district may submit a demand in writing to the standing committee of the people’s congress at the county level for the recall of
a deputy they elected.

In a demand for the recall of a deputy, the reasons for the recall shall be clearly stated. The deputy proposed to be recalled shall
have the right to defend himself at the voters’ meetings or may present a written statement in his own defence.

The standing committee of the people’s congress at the county level shall print and distribute the demand for the recall of a deputy
and the written defence of the deputy proposed to be recalled to the voters in the electoral district from which he was elected.

When the demand for the recall of a deputy is put to vote, the standing committee of the people’s congress at the county level shall
dispatch a relevant leading member to preside over it.”

Article 45 When a local people’s congress at or above the county level is in session, the presidium or a group of at least one-tenth of the
deputies may submit a proposal for the recall of a deputy to the people’s congress at the next higher level who was elected by the
people’s congress at or above the county level. When the people’s congress is not in session, the council of chairmen of the standing
committee of the local people’s congress at or above the county level or a group of at least one-fifth of the component members of
the standing committee may submit a proposal for the recall of a deputy to the people’s congress at the next higher level who was
elected by the people’s congress at or above the county level. In the proposal for the recall of a deputy, the reasons for the recall
shall be clearly stated.

When a local people’s congress at or above the county level is in session, the deputy proposed to be recalled shall have the right
to defend himself or to submit a written defence at the meeting of the presidium or at the plenary meeting of the congress; the presidium
shall have the written defence printed and distributed to the deputies. After the proposal for the recall of the deputy is deliberated
by the deputies at the meeting, it shall be submitted by the presidium to the plenary for voting.

When the standing committee of a local people’s congress at or above the county level meets, the deputy proposed to be recalled shall
have the right to defend himself or submit a written defence at the council of chairmen or the plenary meeting of the standing committee;
the council of chairmen shall have the written defence printed and distributed to the members of the standing committee. After the
proposal for the recall of the deputy is deliberated by the members of the standing committee, it shall be submitted by the council
of chairmen to the plenary meeting for voting.”

Article 46 The proposal for the recall of a deputy shall be voted by secret ballot.”

Article 47 The recall of a deputy to the people’s congress at the county or township level shall be adopted by a majority vote of all the voters
in the electoral district from which the deputy was elected.

The recall of

STATE SECURITY LAW

State Security Law of the People’s Republic of China

CHAPTER I GENERAL PROVISIONS

CHAPTER II FUNCTIONS AND POWERS OF THE STATE SECURITY ORGANS IN THE WORK OF STATE SECURITY

CHAPTER III DUTIES AND RIGHTS OF CITIZENS AND ORGANIZATIONS IN SAFEGUARDING STATE SECURITY

CHAPTER IV LEGAL LIABILITY

CHAPTER V SUPPLEMENTARY PROVISIONS

Article 1 This Law is formulated in accordance with the Constitution of the People’s Republic of China for the purpose of safeguarding State
security, protecting the State power of the people’s democratic dictatorship and the socialist system, and ensuring the smooth progress
of reform, opening-up, and the socialist modernization drive.

Article 2 The State security organs, as stipulated by this Law, are the competent authorities in charge of State security.

The State security organs and the public security organs shall, in accordance with the division of functions and powers as prescribed
by the State, attend to their respective duties, and closely cooperate with each other so as to safeguard State security.

Article 3 Citizens of the People’s Republic of China shall have the duty to safeguard the security, honour and interests of the State, and
must not commit any act endangering the security, honour or interests of the State.

All State organs, armed forces, political parties, public organizations, enterprises and institutions shall have the duty to safeguard
the security of the State.

The State security organs, in the work of State security, must rely on the people’s support, and shall mobilize and organize the people
to prevent and check any act endangering the security of the State.

Article 4 Any organization or individual that has committed any act endangering the State security of the People’s Republic of China shall
be prosecuted according to law.

“Act endangering State security” as referred to in this Law means any of the following acts endangering the State security of the
People’s Republic of China committed by institutions, organizations or individuals outside the territory of the People’s Republic
of China, or, by other persons under the instigation or financial support of the afore-mentioned institutions, organizations or individuals,
or, by organizations or individuals within the territory in collusion with institutions, organizations or individuals outside the
territory:

(1) plotting to subvert the government, dismember the State or overthrow the socialist system;

(2) joining an espionage organization or accepting a mission assigned by an espionage organization or by its agent;

(3) stealing, secretly gathering, buying, or unlawfully providing State secrets;

(4) instigating, luring or bribing a State functionary to turn traitor; or

(5) committing any other act of sabotage endangering State security.

Article 5 The State shall protect organizations and individuals that have rendered support or assistance in safeguarding State security, and
reward those who have made significant contributions to the maintenance of State security.

CHAPTER II FUNCTIONS AND POWERS OF THE STATE SECURITY ORGANS IN THE WORK OF STATE SECURITY

Article 6 The State security organs shall exercise, in the work of State security, the functions and powers of investigation, detention, preliminary
examination and execution of arrest according to law and other functions and powers as stipulated by the law.

Article 7 Any functionary of a State security organ, when carrying out according to law a task for State security and upon producing an appropriate
certificate, shall have the right to examine the identification certificate of any Chinese citizen or any person from outside the
territory of the People’s Republic of China; and shall have the right to investigate or inquire about relevant matters from any organization
or individual concerned.

Article 8 Any functionary of a State security organ may, when carrying out a task for State security, enter any interested site upon producing
an appropriate certificate, and may, in accordance with the relevant provisions of the State, with approval and upon producing an
appropriate certificate, enter interested restricted areas, sites or units; and may have access to related files, materials and articles
for examination.

Article 9 Any functionary of a State security organ may, when carrying out an urgent task according to law, have the priority in taking means
of public transport upon producing an appropriate certificate, and have the right of way in case of a traffic block.

As necessitated by the maintenance of State security, a State security organ may, when necessary and in accordance with the relevant
provisions of the State, have priority in use of any means of transport or communication, site or building belonging to any organ,
organization, enterprise, institution or individual, and shall make a timely return after the use and pay an appropriate fee, and,
in case of any damage or loss, shall make compensation therefor.

Article 10 Where the reconnaissance of an act endangering State security requires, a State security organ may, in accordance with the relevant
provisions of the State and after going through strict approval procedures, employ technological means of reconnaissance.

Article 11 Where State security requires, a State security organ may inspect the electronic communication instruments and appliances and other
similar equipment and installations belonging to any organization or individual.

Article 12 Where State security requires, a State security organ may, in accordance with the relevant provisions of the State, request such
inspecting organs as the Customs and the frontier inspection stations to exempt the personnel, materials and equipment concerned
from inspection. The relevant inspecting organs shall give assistance thereto.

Article 13 State security organs and their functionaries, in their work of State security, shall act strictly according to law, and refrain
from overstepping or abusing their powers and infringing upon the lawful rights and interests of any organization or individual.

Article 14 The performance of duty according to law by functionaries of the State security organs shall be protected by law.

CHAPTER III DUTIES AND RIGHTS OF CITIZENS AND ORGANIZATIONS IN SAFEGUARDING STATE SECURITY

Article 15 State organs, organizations and other institutions shall educate their personnel with regard to the maintenance of State security,
mobilize and organize them to prevent and check acts endangering State security.

Article 16 Citizens and organizations shall provide convenience or other assistance for the work of State security.

Article 17 Any citizen who finds any act endangering State security shall without delay report it directly or through his work unit to a State
security organ or a public security organ.

Article 18 When a State security organ investigates and finds out any circumstances endangering State security and gathers related evidence,
citizens and organizations concerned shall faithfully furnish it with relevant information and may not refuse to do so.

Article 19 Any citizen or organization shall keep confidential the State secrets that have come to his knowledge or its possession regarding
State security.

Article 20 No individual or organization may unlawfully hold any document, material or other articles classified as State secrets.

Article 21 No individual or organization may unlawfully hold or use any specialized espionage equipment or devices such as those for eavesdropping
or secret photographing.

Article 22 Any citizen or organization shall have the right to make to the State security organ at a higher level or to a relevant department
exposure of or charge against the excess or abuse of power or other unlawful acts committed by a State security organ or its functionaries.
The State security organ at the higher level or the relevant department shall ascertain the facts without delay and be responsible
for the handling thereof.

No one may suppress or retaliate against any citizen or organization that has assisted a State security organ in its work or made
reports or charges according to law.

Article 23 Where the acts endangering State security committed by institutions, organizations or individuals outside the territory of the People’s
Republic of China or committed by other persons under the instigation or financial support of the said institutions, organizations
or individuals, or committed by institutions or individuals within the territory of the People’s Republic of China in collusion with
institutions, organizations or individuals outside the territory constitute crimes, such institutions, organizations or individuals
shall be investigated for criminal responsibility according to law.

Article 24 Anyone who, guilty of a crime of espionage, voluntarily surrenders himself or has performed meritorious service may be given a lighter
or a mitigated punishment or be exempted from punishment; and any such person who has performed significant meritorious service may
be awarded.

Article 25 Anyone who is compelled or induced to join a hostile organization and engaged in activities outside the territory endangering the
State security of the People’s Republic of China has made a faithful and timely report about the situation to an organ of the People’s
Republic of China stationed abroad, or after returning to the country, has made a faithful and timely report about the situation
directly or through his unit to a State security organ or a public security organ shall not be prosecuted.

Article 26 Whoever, well aware of other persons’ criminal acts of espionage, refuses to provide information while a State security organ investigates
the circumstances or collects evidence from him shall be punished with administrative sanctions by his unit or the competent department
at a higher level, or given a detention of not more than 15 days by the State security organ; in case the circumstances are serious,
the offender shall be punished by applying mutatis mutandis the provisions of Article 162 of the Criminal Law.

Article 27 Whoever, by means of violence or threat, obstructs a State security organ from carrying out an assignment of State security according
to law shall be punished in accordance with the provisions of Article 157 of the Criminal Law.

Whoever intentionally obstructs a State security organ from carrying out an assignment of State security according to law, without
resort to violence or threat, but have caused serious consequences shall be punished by applying mutatis mutandis the provisions
of Article 157 of the Criminal Law; in case the circumstances are not serious, the offender shall be given a detention of not more
than 15 days by the State security organ.

Article 28 Whoever intentionally or negligently divulges State secrets concerning State security shall be given a detention of not more than
15 days by the State security organ; in case the offence constitutes a crime, the offender shall be investigated for criminal responsibility
according to law.

Article 29 A State security organ may search the body, articles, residence and other related places of anyone who unlawfully holds documents,
materials or other articles classified as State secrets, or who unlawfully holds or uses equipment and materials specially for espionage
purposes, and may confiscate such documents, materials and other articles, as well as such equipment and materials.

Anyone, who unlawfully holds documents, materials or other articles classified as State secrets, if the case constitutes the crime
of divulging State secrets, shall be investigated for criminal responsibility according to law.

Article 30 If the violators of this Law are from outside the territory of the People’s Republic of China, they may be ordered to leave the country
within a specified time limit or be deported.

Article 31 Any party concerned, if not satisfied with the detention decision, may apply for reconsideration within 15 days after receipt of
the decision to the organ at the next higher level over the one that has made the decision; and if still not satisfied with the reconsideration
decision, the party concerned may bring a suit in a people’s court within 15 days after receipt of the reconsideration decision.

Article 32 Any State security functionary who neglects his duty or engages in malpractices for personal interests, if the offence constitutes
a crime, shall be punished in accordance with the provisions of Article 187 or Article 188 of the Criminal Law; Any such person who
practises unlawful detention or extorts a confession by torture, if the offence constitutes a crime, shall be punished respectively
in accordance with the provisions of Article 143 or Article 136 of the Criminal Law.

CHAPTER V SUPPLEMENTARY PROVISIONS

Article 33 Any public security organ that carries out an assignment of State security according to the provisions of Paragraph 2, Article 2
of this Law shall be governed by the relevant provisions of this Law.

Article 34 This Law shall enter into force as of the date of promulgation.

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DUI

AGREEMENT ON RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENT BETWEEN THE GORERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE...

NOTICE OF THE SUPREME PEOPLE’S COURT

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON THE REVISION OF THE REGULATIONS OF THE CHINESE PEOPLE’S LIBERATION ARMY ON THE MILITARY SERVICE OF OFFICERS IN ACTIVE SERVICE

REGULATION FOR THE IMPLEMENTATION OF TRADEMARK LAW

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ENTERPRISE INCOME TAX PREFERENTIAL POLICES TO BE ENJOYED BY ENTERPRISES WITH FOREIGN INVESTMENT WHICH INCREASE INVESTMENTS

CIRCULAR OF THE STATE TAXATION ADMINISTRATION ON RELEVANT ISSUES CONCERNING THE REFUND OF ENTERPRISE INCOME TAX TO FOREIGN INVESTORS UPON THEIR REINVESTMENT

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON THE REVISION OF THE REGULATIONS ON THE MILITARY RANKS OF OFFICERS OF THE PEOPLE’S LIBERATION ARMY

REGULATIONS OF THE P.R.C. ON SINO-FOREIGN COOPERATION IN THE DEVELOPMENT OF CONTINENTAL PETROLEUM RESOURCES

RULES FOR THE ESTABLISHMENT OF FOREIGN-SHARED SECURITIES COMPANIES

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

ELECTORAL LAW OF THE NATIONAL PEOPLE’S CONGRESS AND LOCAL PEOPLE’S CONGRESS

STATE SECURITY LAW

CONSTITUTION ACT, 1982 – page 22

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CONSTITUTION ACT, 1982 – page 17

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