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CIRCULAR CONCERNING THE ADDITION OF THE OPEN MARKET OPERATIONS PRIMARY DEALERS AND THE ESTABLISHMENT OF THE MECHANISM CONCERNING APPRAISING AND ADJUSTING THE PRIMARY DEALERS IN 2004






Circular concerning the Addition of the Open Market Operations Primary Dealers and the Establishment of the Mechanism concerning Appraising
and Adjusting the Primary Dealers in 2004

[2004] No 2

Each open market operations primary dealer and national inter-bank bond market member :

The Addition of the Open Market Operations Primary Dealers and the Establishment of the Mechanism concerning Appraising and Adjusting
the Primary Dealers in 2004are hereby notified as follows:

1.

Expanding the range of the open market operations primary dealers

Since 2004, some securities companies, insurance companies and rural credit cooperatives unions are added into the list of the open
market operations primary dealers by People’s Bank of China in addition to the commercial banks. Simultaneously, People’s Bank of
China chooses the open market operations primary dealers of different types of institutions to implement transactions subject to
the different operation varieties of open market operations. All the open market operations primary dealers, including the commercial
banks, securities companies, insurance companies and rural credit cooperatives unions, may take part in the People’s Bank of China’s
operation of the issue of central bank bills; the deposit financial institutions of the open market operations primary dealers, namely
the commercial banks and rural credit cooperatives unions, may take part in the operation of repurchase; priority shall be given
to the bond market-makers among open market operations primary dealers as approved by the People’s Bank of China in implementing
cash bond operation, and the People’s Bank of China may decide to implement the operation with all the open market operations primary
dealers in accordance with the market situation and the operation requirements .

2.

Adding open market operations primary dealers of 2004

According to the bonds underwriting situation of the primary bond market, the transaction situation of the secondary bond market,
assets scale, level of management and financial condition of the financial institutions, after considering the local elements, the
People’s Bank of China decided to add two securities companies, namely Guotai Junan Securities Co., Ltd.. and CITIC Securities Co.,
Ltd.; four insurance companies, namely China Life Insurance Co., Ltd., China Ping An Life Insurance Co., Ltd., Huatai Property Insurance
Co., Ltd. and Taikang Life Insurance Co.,Ltd.; two rural credit cooperatives unions, namely Rural Credit Cooperatives Union of Beijing
and Rural Credit Cooperatives Union of Shanghai; and one commercial bank Baotou Commercial Bank, totally nine institutions in all
as the primary dealers of open market operations. There are altogether 52 open market operations primary institutions in all in 2004.
See Appendix 1 for the detailed name list.

3.

Establishing the mechanism on appraising and adjusting the open market operations primary dealers

The People’s Bank of China establishes the mechanism concerning annually appraising and adjusting the open market operations primary
dealers since 2004. The specific content is as follows:

(1)

Making evaluation index system. The People’s Bank of China makes the evaluation index system towards the national inter-bank bond
market members (hereinafter referred to as market members), the main content of the system contains the situation concerning taking
part in open market operations, underwriting situation of the primary bond market, trading situation of the secondary bond market
and the implementation and conduction of monetary policies, etc. The specific evaluation index system can be found in Appendix 2.

(2)

Setting the index weight coefficient, scoring standards and the calculating value. The People’s Bank of China determines the index
weight coefficient, scoring standards and calculates the score value of major market members through comprehensive consideration
of all kinds of elements.

(3)

Determining the open market operations primary dealers subject to the rules. Since 2004, the number of open market operations primary
dealers shall be maintained at 52, among which, the proportions of commercial banks, insurance companies, insurance companies and
rural credit cooperatives unions shall be determined subject to the trading situation and the monetary regulation requirements of
the previous year. The People’s Bank of China calculates the score value subject to the evaluation index system, weight coefficient
and scoring standards, evaluates and ranks the above-mentioned four categories of institutions among the major market members, those
ranking high should be put on the planned list of open market operations primary dealers. The People’s Bank of China should determine
and publicize the list of the open market operations primary dealers after soliciting the opinions of the related supervising departments
on whether a dealer observes the requirements of the related supervising departments and on its business performance.

Furthermore, as for an institution that fails to perform the related obligations in open market operations, the People’s Bank of China
may suspend the transactions with this institution in accordance with the related provisions.

By the end of 2004￿￿in accordance with the above-mentioned principles and procedures, the People’s Bank of China will choose 42 commercial
banks, 4 securities companies, 4 insurance companies and 2rural credit cooperative unions, a altogether 52institutions in all, as
the open market operations primary dealers of the year 2005.

Appendix 1: Name List of the Open Market Operations Primary Dealers 2004

Appendix 2: Indices for Evaluating the Open Market Operations Primary Dealers

The Operating Office of the Open Market Operations of the People’s Bank of China

February 25, 2004


Appendix 1

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Appendix 1:

Name List of the Primary Dealers of Open Market Operations 2004

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Industrial and Commercial Bank of China

Wuhan Commercial Bank

Agricultural Bank of China

Jinan Commercial Bank

Bank of China

Urumchi Commercial Bank

China Construction Bank

Changsha Commercial Bank

Bank of Communications

Dalian Commercial Bank

CITIC Industrial Bank

Zibo Commercial Bank

China Everbright Bank

Evergrowing Bank

Huaxia Bank

Xiamen Commercial Bank

China Minsheng Banking Corp., Ltd.

Shijiazhuang Commercial Bank

Guangdong Development Bank

Qingdao Commercial Bank

Shanghai Pudong Development Bank

Kunming Commercial Bank

Industrial Bank

Taiyuan Commercial Bank

China Merchants Bank

Xi'an Commercial Bank

Shenzhen Development Bank

Luoyang Commercial Bank

Beijing Commercial Bank

Harbin Commercial Bank

Tianjian Commercial Bank

Hefei Commercial Bank

Bank of Shanghai

Guiyang Commercial Bank

Nanjiaing Commercial Bank

Baotou Commercial Bank

Guangzhou Commercial Bank

Guotai Junan Securities Co., Ltd.

Zhuhai Commercial Bank

CITIC Securities Co., Ltd.

Fuzhou Commercial Bank

China Life Insurance Co., Ltd.

Chengdu Commercial Bank

China Ping An Life Insurance Co., Ltd.

Chongqing Commercial Bank

Huatai Property Insurance Co., Ltd.

Shenzhen Commercial Bank

Taikang Life Insurance Co., Ltd.

Hangzhou Commercial Bank

Rural Credit Cooperatives Union of Beijing

Wuxi Commercial Bank

Rural Credit Cooperatives Union of Shanghai

￿￿

Appendix 2:

Indices for Evaluating the Primary Dealers of Open Market Operations

￿￿

Institution Name

Participation in Open Market Operations

Primary Bond Market Conditions

Issuance of Central Bank Bills

Repurchase Transactions

Cash Bond Transactions

Underwriting Volume

Distribution Volume

Hitting Frequency Ratio

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Secondary Bond Market Conditions

Implementation and Conduction of Monetary Policies

Cash Bond Transactions

Repurchase Transactions

Bilateral Quotation of Bond Market- Maker

Implementation  of Window

 Guidance of the Central  Bank

Daily Report on Liquidity

Suspension of Open Market Transaction

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THE MEASURES OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA FOR THE ADMINISTRATION OF SMALL VESSELS COMING FROM AND GOING TO HONG KONG AND MACAO AND THE CARGOES AND ARTICLES ON THEM

Customs General Administration

Decree of the General Administration of Customs of the People’s Republic of China

No. 112

The Measures of the Customs of the People’s Republic of China for the Administration of Small Vessels Coming from and Going to Hong
Kong and Macao and the Cargoes and Articles on them were adopted at the executive meeting of the General Administration of Customs
on January 1st, 2004, which are hereby promulgated and shall be implemented as of March 15th, 2004. The Measures of the Customs of
the People’s Republic of China for the Supervisory Administration of Small Vessels Going between Hong Kong and Macao and the Cargoes
and Articles on them (Decree No. 68 of the General Administration of Customs) and the Measures of the General Administration of Customs
of the People’s Republic of China for the Administration of the Registration and Record Keeping of Small Vessels Coming from and
Going to Hong Kong and Macao (Decree No. 69 of the General Administration of Customs of the People’s Republic of China shall be repealed
at the same time.

Mou Xinsheng, Director of the General Administration of Customs

February 6th, 2004

The Measures of the Customs of the People’s Republic of China for the Administration of Small Vessels Coming from and Going to Hong
Kong and Macao and the Cargoes and Articles on them

Chapter I General Provisions

Article 1

In order to regulate the supervision over small vessels coming from and going to Hong Kong and Macao and the cargoes and articles
carried on them, the present Measures are formulated in accordance with the Law on the Customs of the People’s Republic of China
and other relevant laws and administrative regulations.

Article 2

Definitions of the following terms as mentioned in the present Measures:

(1)

The term “small vessels coming from and going to Hong Kong and Macao” refers to the power-driven vessels and non-power-driven vessels
registered within China, used for transportation of cargoes, specially coming and going between the Mainland and Hong Kong or Macao
upon approval of the Ministry of Communication or its authorized departments.

(2)

The term “customs midway supervisory offices for small vessels” (hereinafter referred to MSOs) refers to the supervisory institutions
established by the customs in Dachandao at Zhujiangkou, Wanchai of Zhuhai, Guishandao outside Zhujiangkou and Dasanmendao to the
East of Hong Kong, which shall be responsible for supervising small vessels and the cargoes and articles carried by them, confirming
customs manifest and making customs seal.

(3)

The term “navigation instructions” refers to the electronic instructions given by the MSOs to the small vessels, such as “Pass by
the MSO directly” and “Stop for undergoing formalities”, etc.

(4)

The term “the specified area” refers to the navigation area centering around an MSO within a certain range. The specific range shall
be announced by the related customs directly under the General Administration of Customs.

Article 3

Small vessels shall enter and exit, anchor, load and unload cargoes and articles, let people get on or get off and undergo relevant
formalities at the ports with customs or the MSOs which are allowed by the customs to assign persons to conduct supervision temporarily.

Article 4

Where any of the following vessels enters or exits China, it shall be subject to the formalities for manifest confirmation and customs
seal at the specified MSO:

(1)

Small vessels coming and going between Hong Kong and the water area of Zhujiang shall go through the relevant formalities at Dachandao
MSO;

(2)

Small vessels coming and going between Hong Kong or Macao and the waterway of Modaomen shall go through the relevant formalities at
Wanchai MSO;

(3)

Small vessels coming and going between Hong Kong or Macao and all the ports along the coasts of Guangdong, Guangxi and Hainan to the
west of the Zhujiangkou and the waterway Modaomen shall go through the relevant formalities at Guishandao MSO;

(4)

Small vessels going between Hong Kong or Macao and all the ports of Guangdong Province to the east of Zhujiangkou, Fujian and along
the coast to the north of Fujian shall go through the relevant formalities at Dasanmendao MSO.

The small vessels coming and going between Hong Kong and Chiwan, Shekou, Mawan and Yantian Port shall directly go through the entry/exit
declaration formalities at the port customs.

Article 5

After being kept record by the customs, a small vessel may engage in transportation of cargoes entering or exiting China.

The small vessel shall, via the shipping enterprise owning this vessel, go through the record-keeping formalities in the customs directly
under the General Administration of Customs or its authorized customs located in the area where the shipping enterprise has completed
the commercial and industrial registration. The customs shall manage the small vessels by keeping record through the Internet and
shall share the data information.

Article 6

Each small vessel shall install ship-borne information receiving and sending device acknowledged by the customs. Under special circumstances,
it may not install such device upon approval of the customs.

No small vessel may have hidden compartments, interlayers or other room for hiding cargoes and articles. The structure of the vessel
shall not be changed after having been verified by the ship inspection department of the state.

Chapter II Management of Record-keeping

Article 7

When a small vessel applies for record-keeping, the shipping enterprise shall submit the following documents to the customs:

(1)

The Registration and Record-Keeping Form for Small Vessels Coming from and Going to Hong Kong and Macao (See Attachment 1);

(2)

Copy of the approving documents issued by the administrative department of transport;

(3)

Copy of the ship inspection certificate issued by China Classification Society or the administrative department of maritime;

(4)

Copy of the vessel’s transportation permit;

(5)

Copy of the vessel’s nationality certificate;

(6)

The diagram of the vessel’s structure; and

(7)

Colored photographs of the front view of the vessel and its profile that shows its name, each in triplicate;

In addition, the original documents of those mentioned in Items (2) through (5) shall be simultaneously submitted to the customs for
verification.

Article 8

Where the customs decides to keep record of a vessel, it shall issue a Registration and Record Keeping Certificate of Small Vessels
Coming from and Going to Hong Kong or Macao within 5 working days from the day when it receives the record-keeping documents (hereinafter
referred to as Record-keeping Certificate, see Attachment 2) and a Supervisory Book of the Customs for Small Vessels Coming from
and Going to Hong Kong and Macao (hereinafter referred to as the Supervisory Book of the Customs, see Attachment 3).

Where the customs decides not to keep record of a vessel upon examination, it shall formulate and issue a Notice on Disapproval of
Record Keeping of Small Vessels Coming from and Going to Hong Kong and Macao (See Attachment 4).

Article 9

The customs shall adopt an annual examination management to small vessels. A shipping enterprise shall submit the following documents
within the time limit as required by the customs and go through the annual examination formalities for small vessels:

(1)

The Annual Examination Report on Small Vessels Coming from and Going to Hong Kong and Macao (See Attachment 5);

(2)

The Record-keeping Certificate; and

(3)

The Supervisory Book of the Customs.

Any small vessel that fails to go through the annual examination or fails to meet the requirements as specified in the present Measures
shall not continue to engage in transportation of cargoes entering and exiting China.

Article 10

Where any of the information registered with the customs, such as a small vessel’s name, structure, route, legal representative, address
or the nature of the enterprise, is changed, the shipping enterprise shall go through the modification formalities with written application
and relevant approving documents.

Chapter III Supervision of Customs

Article 11

Before a small vessel enters China, the person-in-charge or agent of the vessel may itself or authorize a manifest input entity to
send electronic manifest data through pubic data information platform linked with the customs.

Before a small vessel exits China, the person-in-charge or agent of the vessel shall submit a paper manifest to the customs at the
loading port, the Supervisory Book of the Customs and other relevant vouchers and books, at the same time it shall send electronic
manifest data through pubic data information platform linked with the customs.

Article 12

The electronic manifest data shall include: the name and serial number of the tool of transport, the number of voyage, nationality,
loading port, port of destination, number on bills of lading, the consignee or consigner, name of cargo, cargo quantity and weight,
container number and size of container.

Article 13

The person-in-charge of a vessel shall confirm the declared electronic manifest data through the ship-borne receiving and sending
device, when the vessel starts to enter or exit China.

After a vessel has completed the formalities for confirming the electronic manifest data and making the customs seal, the owner or
agent of the imported cargoes may file a declaration to the customs in advance.

Article 14

Where it is necessary to modify the electronic manifest data confirmed by the customs, the person-in-charge or its agent shall file
an application to the customs. The said electronic manifest data may be modified upon consent of the customs.

Article 15

The customs shall preserve the electronic manifest data and track data for 3 years from the day when it confirms the declared manifest
of a small vessel.

Article 16

After a small vessel starts to enter or exit China, it shall enter the specified area, receive and confirm the navigation instructions,
and directly pass by the MSO or anchor near the MSO for going through the relevant formalities according to the instructions.

Article 17

When a small vessel receives the instruction that it shall stop sailing to go through the relevant formalities, it shall sail into
the anchorage as specified by the MSO.

With regard to a small vessel entering China, it may continue to sail to the port of destination within China after its Supervisory
Book of the Customs has been marked and approved by the MSO and it has completed the formalities for confirming the electronic manifest
data and making the customs seal.

With regard to a small vessel exiting China, it shall submit the manifest and other vouchers with the seal of the customs at the port
of loading to the MSO for confirmation. It may continue to sail to the overseas port of destination after its Supervisory Book of
the Customs has been marked by the MSO.

Article 18

After a small vessel arrives at the port of destination within China, the person-in-charge or agent of the vessel shall submit the
Supervisory Book of the Customs, paper manifest and other vouchers to the customs for completing the relevant formalities.

With regard to a small vessel that has gone through the relevant formalities at an MSO, it shall submit the customs seal.

Article 19

The person-in-charge of a small vessel shall properly preserve the paper manifest, customs seal and other vouchers confirmed by the
customs.

Article 20

When a small vessel loads or unloads cargoes entering or exiting China, the person-in-charge or agent of the vessel shall verify the
cargoes according to the manifest, if he (she) finds excessive or short shipment (unloading), wrong shipment (unloading), broken
and damaged goods or any other mistakes, he (she) shall note down properly and tackle this matter in accordance with Article 14
of the present Measures.

Article 21

With regard to the articles for public use and self-use articles of the shipmen carried by a vessel entering or exiting China, one
shall faithfully fill in the Entry-exit Declaration Form for Public Articles Carried by Small Vessels Coming from and Going to Hong
Kong / Macao (See Attachment 6) and the Entry-exit Declaration Form for Self-use Articles Carried by Small Vessels Coming from and
Going to Hong Kong / Macao (See Attachment 7), the customs shall complete the verification and clearance formalities in pursuance
of the relevant regulations

Article 22

Where a small vessel installs machine parts, or re-supplies ship’s fuel, materials and articles for public use, one shall fill in
the Declaration Form for Fuel and Materials Re-supplied Abroad to Small Vessels Coming from and Going to Hong Kong / Macao (See Attachment
8), and shall submit the relevant payment vouchers or invoices to the customs for verification, and shall undergo the import formalities.

Article 23

No small vessel may carry import / export cargoes and non-import / export cargoes on board at the same time.

Article 24

Upon approval of the departments of transport, a small vessel may concurrently engage in transportation within China.

Whenever a small vessel changes the overseas transportation into domestic transportation or vice versa, one shall report to the customs
for archival purposes. The customs shall mark the Supervisory Book of the Customs and complete the relevant formalities.

Article 25

During the period from a small vessel’s entering China to the completeness of the customs clearance formalities, or during the period
after a small vessel has completed the customs formalities at the port of loading, the vessel shall not anchor, load or unload cargoes
and articles or have people get on or get off, without approval of the customs.

Article 26

Where a small vessel anchors, loads or unloads cargoes or articles, or lets people get on or off at a time or area other than the
one specified, it shall have obtained the approval of the customs in advance; where it needs the customs to perform the supervisory
functions, it shall pay the stipulated fees in accordance with the relevant provisions.

Article 27

Where a small vessel is forced to anchor, take up a berth, load or unload cargoes or articles, or lets people get on or off due to
force majeure at a place where no customs is established, the person-in-charge of the vessel shall immediately report to the nearby
customs.

Where a small vessel is unable to anchor in the MSO for completing the entry / exit formalities due to confronting a storm, it may
directly sail to the port of destination upon permission of the MSO.

Article 28

An MSO may put marks on the cargoes carried by a small vessel and the compartments of the vessel, it may assign persons to conduct
supervision over the vessel when the vessel arrives at the port of destination where necessary, the person-in-charge or agent of
the vessel shall provide convenience.

Article 29

Where the customs examines a small vessel, the person-in-charge or agent of the vessel shall be present, shall open all the places,
containers or packages of cargoes and move the cargoes or materials according to the demands of the customs. Where the customs deems
necessary, it may directly conduct examination, re-examination or take samples of cargoes.

When the customs examines the baggage and articles of the shipmen, the relevant shipmen shall be present and shall open the baggage
and packages and places for storing articles.

Chapter IV Legal Liabilities

Article 30

If anyone violates the Customs Law of the People’s Republic of China and the provisions of the present Measures, by smuggling or any
act in violation of the supervisory provisions of the customs, he (she) shall be punished in accordance with the Customs Law of the
People’s Republic of China, the Detailed Rules for the Implementation of the Administrative Punishments of the Customs of the People’s
Republic of China and other relevant laws and administrative regulations. Where any crime is constituted, he (she) shall be subject
to criminal liabilities.

Chapter V Supplementary Provisions

Article 31

The power to interpret the present Measures shall remain with the General Administration of Customs.

Article 32

The present measures shall come into force as of March 15, 2004. The Measures of the Customs of the People’s Republic of China for
the Supervisory Administration of the Small Vessels Coming from and Going to Hong Kong and Macao and Cargoes and the Articles on
them and the Measures of the General Administration of Customs of the People’s Republic of China for the Administration of the Registration
and Record Keeping of the Small Vessels Coming from and Going to Hong Kong and Macao issued by the General Administration of Customs
of the People’s Republic of China on October 17, 1998 shall be repealed at the same time.

Attachments:

1.

The Registration and Record-Keeping Form for Small Vessels Coming from and Going to Hong Kong and Macao (Omitted)

2.

The Register and Record Keeping Certificates for Small Vessels Coming from and Going to Hong Kong and Macao (Omitted)

3.

The Supervisory Book of the Customs for Small Vessels Coming from and Going to Hong Kong and Macao (Omitted)

4.

Notice on Disapproval of Record Keeping of Small Vessels Coming from and Going to Hong Kong and Macao (Omitted)

5.

The Annual Examination Report on Small Vessels Coming from and Going to Hong Kong and Macao (Omitted)

6.

Entry-exit Declaration Form for Public Articles Carried by Small Vessels Coming from and Going to Hong Kong / Macao (Omitted)

7.

Entry-exit Declaration Form for Self-use Articles Carried by Small Vessels Coming from and Going to Hong Kong / Macao (Omitted)

8.

Declaration Form for Fuel and Materials Re-supplied Abroad to Small Vessels Coming from and Going to Hong Kong / Macao (Omitted)

 
Customs General Administration
2004-02-06

 



THE PROVISIONS OF THE STATE INTELLECTUAL PROPERTY OFFICE ON ELECTRONIC PATENT APPLICATION

State Intellectual Property Office

Decree of the State Intellectual Property Office

No. 35

The Provisions on Electronic Patent Application, which are formulated for the purpose of regulating the relevant procedures and requirements
for patent application put forward in the form of electronic documents through the Internet, are hereby promulgated and will come
into effect as of March 12, 2004.

State Intellectual Property Office

February 12, 2004

The Provisions of the State Intellectual Property Office on Electronic Patent Application

Article 1

The present Provisions are hereby formulated in accordance with Article 3 and paragraph 2, Article 16 of the Detailed Rules for
the Implementation of Patent Law, for the purpose of regulating the relevant procedures and requirements for patent application put
forward in the form of electronic documents through the Internet (hereinafter referred to as the electronic patent application).

Article 2

Anyone who wishes to make electronic patent applications shall sign the User Agreement for Registration in Electronic Patent Application
System (hereinafter referred to as the “User Agreement”) with the State Intellectual Property Office beforehand.

A patent agency that opens agency business for electronic patent application shall sign the User Agreement with the State Intellectual
Property Office in the name of the patent agency.

Where an applicant who entrusts a patent agency that has signed the User Agreement with the State Intellectual Property Office to
handle electronic patent application business, does not need to sign an additional User Agreement with the State Intellectual Property
Office.

Article 3

Patent Applications for inventions, utility models and industrial designs may all be filed in the form of electronic documents.

For an applicant who is going through the formalities of international patent application and is at the Chinese phase in accordance
with the provisions of paragraph 2, Article 99 of the Detailed Rules for the Implementation of Patent Law, he may submit the documents
as prescribed in Article 101 of the Detailed Rules for the Implementation of the Patent Law in electronic form.

The present Provisions are not applicable to the international application for patent to the State Intellectual Property Office in
accordance with the provisions of paragraph 1, Article 99 of the Detailed Rules for the Implementation of Patent Law.

Article 4

Where an applicant submits an electronic patent application and relevant documents, he/it shall abide by the file formats, data standards,
operational procedures, and ways of transmission as prescribed in the User Agreement. If the application does not comply with the
forgoing prescriptions, and leads to the failure of normal reception of the electronic patent application and relevant documents
by the electronic patent application system, the electronic patent application shall not be accepted, and the relevant documents
shall be deemed as not being submitted.

Article 5

Where an applicant files a patent application in the form of paper documents which is then accepted, he/it shall submit the relevant
documents in paper form in each process of the patent application. Unless there are provisions otherwise, the State Intellectual
Property Office shall not accept the relevant documents submitted by the applicant in the electronic form, and the application will
be deemed as not being submitted in case it does not comply with the provisions of this paragraph.

Where an applicant files an electronic patent application, which is then accepted, he/it shall submit the relevant documents in the
electronic form in each process of the patent application. Unless there are provisions otherwise, the State Intellectual Property
Office shall not accept the relevant documents submitted by the applicant in paper form. And the application will be deemed as not
having been submitted in case it does not comply with the provisions of this paragraph.

Article 6

Where an applicant files an electronic patent application which is then accepted, he shall, for relevant documents that must be submitted
in their originals as prescribed in the Patent Law and its Detailed Implementation Rules and the examination guidelines, submit the
electronic scanning or image text of the original one, and submit the originals within the prescribed or specified time limit.

Article 7

Where an applicant files an electronic patent application, the application date shall be deemed as the date when the State Intellectual
Property Office receives the patent application documents in conformity with the provisions of Patent Law and its Detailed Implementation
Rules. The State Intellectual Property Office shall issue notice of acceptance to the applicant after receiving the patent application
fees paid by the applicant within a prescribed time limit. Where an applicant submits the patent application documents in conformity
with the provisions of the Patent Law and its Detailed Implementation Rules, but fails to pay patent application fees within the
prescribed time limit, the State Intellectual Property Office shall issue notice that is regarded as withdrawal at the same time
of issuing a notice of acceptance.

Article 8

Where an applicant files an electronic patent application, he/it shall pay patent application fees and various other fees. Unless
otherwise there are special provisions, the various fees for electronic patent application shall be paid in accordance with the amount
of charge rates in existence.

Article 9

Where the State Intellectual Property Office issues various notices, decisions and other documents to an applicant for his/its electronic
patent application in the form of electronic documents, the applicant shall obtain them in the way as prescribed in the User Agreement.

Article 10

All the provisions of the Patent Law and its Detailed Implementation Rules and the examination guidelines on patent application and
relevant documents shall be applicable to the electronic patent application, unless there are special provisions otherwise on patent
application and relevant documents that shall be submitted in the form of paper documents.

Article 11

The power to interpret the present Provisions shall remain with the State Intellectual Property Office.



 
State Intellectual Property Office
2004-02-12

 






PROVISIONS ON THE ESTABLISHMENT OF INVESTMENT COMPANIES WITH FOREIGN INVESTMENT

Ministry of Commerce

Decree of the Ministry of Commerce of the People’s Republic of China

No.2

Provisions on the Establishment of Investment Companies with Foreign Investment, which were revised and adopted at the 2nd executive
meeting of the Ministry of Commerce of the People’s Republic of China on February 12, 2004, are hereby promulgated, and shall come
into force after 30 days as of the date of promulgation.

Lv Fuyuan, Minister of the Ministry of Commerce

February 13, 2004

Provisions on the Establishment of Investment Companies with Foreign Investment

Article 1

With a view to promoting the foreign investors to make investment in China, introducing foreign advanced technology and management
experiences, the People’s Republic of China permits foreign investors to establish investment companies in China according to the
laws, regulations and the provision of China on foreign investment and the provisions.

Article 2

A investment company mentioned in the provisions means a foreign-funded enterprise engaging in direct investment, which is established
by a foreign investor in China either in the form of a solely foreign-owned enterprise or a joint venture with a Chinese investor.
The export procurement center shall be a limited liability company.

Article 3

To establish an investment company, the following requirements shall be satisfied:

(1)

1. The foreign investor shall have good credit standing, and necessary economic strength for establishing the investment company.
The total assets of the investor shall be no less than U.S.D400, 000,000 in the year before the application. And the investor shall
have established a foreign-funded enterprise within the territory of China, the amount of actual contribution to the registered capital
of which shall be no less than U.S.D 10, 000,000, and which shall have more than three projects which are intended to be invested,
or; 2. The foreign investor shall have good credit standing, and necessary economic strength for establishing the investment company.
The investor shall have established more than 10 foreign-funded enterprises, the amount of actual contribution to the registered
capital of which shall be no less than U.S.D30, 000,000;

(2)

The Chinese investor in a joint venture foreign-funded investment company shall have good credit standing, and necessary economic
strength for establishing the investment company. The total assets of the investor shall be no less than RMB100, 000,000 Yuan in
the year before the application.

(3)

The registered capital of the investment company shall be no less than U.S.D 30, 000,000.

The foreign investor applying for establishing an investment company shall be a foreign company, enterprise or economical organization.
If there are more than 2 investors, at least one of the investors who take major proportion of the stock right shall meet the provisions
of Subparagraph 1, Paragraph 1 of this Article.

Article 4

The foreign investor meeting the requirements provided in Subparagraph 1, Paragraph 1, Article 3 of the provisions may invest to
establish an investment company in the name of the constituent company exclusively owned by him.

Article 5

If a foreign investor applying for establishing an investment company meets the requirements provided in Subparagraph 1, Paragraph
1, Article 3 of the provisions, the investor shall submit a letter of guaranty to the approving authority, guaranteeing the contribution
to the registered capital and the transfer of the technology owned by him or the company related to him when the investment company
established by him invests within the territory of China.

For those establishing the investment companies in the name of the constituent company exclusively owned by them, the parent company
shall submit a letter of guaranty to the approving authority, guaranteeing that the constituent company shall complete the contribution
to the registered capital of the investment company, and guaranteeing the contribution to the registered capital and the transfer
of the technology owned by the parent company or its branch companies when the investment company is established within the territory
of China.

Article 6

The investor applying for establishing a investment company shall submit the following documents to the competent authority of commerce
of the province, autonomous region, municipality directly under the Central Government, or city directly under state planning where
the investment company is located. After having been consented to upon preliminary examination, the documents shall submit to the
Ministry of Commerce for examination and approval.

(1)

Letter of project suggestion on establishing a investment company in the form of joint venture, the feasibility study report, the
contract, the articles of association signed by all the investors;

When establishing an investment company exclusively owned by a foreign investor, the letter of project suggestion, the application
form of the foreign enterprise, the feasibility study report, the articles of association signed by the foreign investor;

(2)

Proof document of qualifications, registration document (photocopy), and legal representative (duplicated) of all the investors

(3)

The approval certificate (duplicated), the business license (duplicated) and the report of assets examination issued by a Chinese
registered accountant (duplicated) of the enterprises having been funded by the foreign investor;

(4)

The statements of assets and liabilities of all the investors in the last 3 years which have been audited according to the laws;

(5)

The letter of guaranty which shall be submitted according to Article 5 of the provisions;

(6)

Other documents required by the Ministry of Commerce.

Except having been marked as the duplicated copies, the documents above-mentioned shall uniformly be formal documents.

If the documents are signed by non-legal persons, the authorizing letter signed by the legal person of the investor shall be presented.

If the investor authorizes the intermediary organization to make the application, the authorizing letter signed by the legal person
of the investor shall be presented.

Article 7

The foreign investor shall make contribution to the registered capital of the investment company in freely convertible currency, or
the profit in the form of RMB it earned in the territory of China, or the lawful incomes in the form of RMB which is from the activities
such as assignment of the share or liquidation. The Chinese investor may make investment in RMB. The foreign investor who makes contribution
to the registered capital in the lawful incomes in the form of RMB shall submit the relevant verifying documents and tax voucher.
The contribution shall be completely paid in 2 years as of the date the business license is issued.

Article 8

The investment company shall keep at least U.S.D30, 000,000 in its registered capital used for making investment to the foreign-funded
enterprise newly established by it, or making investment to the amount of contribution of the foreign-funded enterprise (having completed
the assignment of share according to the law) that haven’t completely paid by its parent company or the relevant companies, or making
contribution to the increased part of the registered capital, or making investment to the establishment of organizations such as
the scientific research and development centre, or purchasing the stock right of the company shareholders in the territory of China(
Don’t include the stock right formed by the contribution that has been paid by the parent company of the investment company or its
relevant companies).

Article 9

If the registered capital of the investment company is no less than U.S.D30, 000,000, the amount of loan shall not exceed 4 times
of the registered capital that has been paid. If the registered capital of the investment company is no less than U.S.D100, 000,000,
the amount of loan shall not exceed 6 times of the registered capital that has been paid. If the required loan exceeds the above-mentioned
provisions because of business need, the investment company shall report to the Ministry of Commerce for approval.

Article 10

After being established by the approval of the Ministry of Commerce, the investment company may engage in the following business according
to the actual need when engaging in operational activities in China:

(1)

Making investment in the fields the State permits the foreign investors to invest in;

(2)

Providing the following services to the funded enterprise under the written authorization (adopted unanimously by the board of directors)
of the enterprise:

i.

Giving assistance to or acting as procurator of the funded enterprise to purchase machine equipments, office equipments used by itself
and the raw material, component, machine replacement parts needed for production from home and abroad, and sell the products produced
by the funded enterprise at home and abroad, and provide services after selling;

ii.

Balancing the foreign exchange between the funded enterprises under the approval and supervision of the foreign exchange control departments;

iii.

Providing services such as technological support, staff training, personal administration inside the enterprise in the process of
production, sales, market development;

iv.

Giving assistance to the funded enterprise for seeking loan or providing bond for it;

(3)

Establishing scientific development centre or department within the territory of China, engaging in the research and development of
new products and new technique, transferring the achievements of research and development, and providing the corresponding technological
services;

(4)

Providing consulting service for the investors, and providing consulting service such as market information, investment policies related
to its investment for the relevant companies;

(5)

Carrying on the outsourcing business of its parent company and relevant company.

Article 11

The enterprise funded by the investment enterprise mentioned in the provisions means the enterprise meeting the following requirements:

(1)

The enterprise directly invested by the investment company, or jointly invested by the investment company and other foreign investors
and (or) Chinese investors. The proportion of the foreign investor’s investment exclusively by himself or jointly with other investors
discount to the investment company shall be no less than 25 percent of the investment company’s registered capital;

(2)

The proportion of the foreign investor’s investment exclusively by himself or jointly with other investors discount to the investment
company shall be no less than 25 percent of the investment company’s registered capital, after the investment company partly or completely
purchasing the stock right of the enterprises having been established in the territory of China invested by its investor or the relevant
companies of its investor, other investors and the investors in the territory of China;

(3)

The amount of investment of the investment company shall be no less than 10 percent of the registered capital of the enterprise funded
by the investment company.

Article 12

The investment company may provide financial support to the enterprise invested by it after being approved by China Banking Regulatory
Commission.

Article 13

The investment company may sponsor to establish an foreign-funded limited-liability company or hold the legal person shares of other
foreign-funded limited-liability companies that haven’t been listed for circulation. The investment company may also hold the legal
person shares of other limited-liability companies in the territory of China that haven’t been listed for circulation. The investment
company shall be treated as the foreign sponsor or shareholder of the limited-liability company.

Article 14

If the established investment company operates according to the laws, has no record of violating the laws, pays the registered capital
on schedule according to the provisions of the articles of association, the registered capital actually paid by the investors being
no less than U.S.D30, 000,000 and having been used according to the provisions of Article 8 , it may engage in the following business
according to the actual need when engaging in operational activities in China after being consented to by the competent authority
of commerce of the province, autonomous region, municipality directly under the Central Government, or city directly under state
planning where the investment company is established upon preliminary examination, making application to the Ministry of Commerce
and being approved by it:

(1)

Conducting the following business under the written authorization (adopted unanimously by the board of directors) of the enterprise
invested by it:

i.

Selling the products produced by the funded enterprise by the way of distribution in the markets both at home and abroad;

ii.

Providing comprehensive services such as transportation and storage of goods for the enterprise funded by it.

(2)

Exporting the commodities within the territory of China by the way of agency, distribution, or establishing export procurement organization
(including internal organizations), and completing the drawback of duties paid for export according to the relevant provisions;

(3)

Purchasing the products produced by the funded enterprise and selling them both at home and abroad after systematically integrating
them, if the products of the funded enterprise cannot meet the need of systematically integrating, permitting it to purchase the
auxiliary products for systematical integration from home and abroad, but the value of the purchased products shall not exceed 50
percent of the total value of the products needed to be systematically integrated;

(4)

Providing relevant technological training for the internal distributors and agents of the products of the enterprise funded by it,
and the domestic companies and enterprises which have signed agreement on transfer of technology with the investment company, its
parent company or its relevant companies;

(5)

Before the funded enterprise going into operation or new products of the funded enterprise putting into production, permitting the
investment company to import the products related to products produced by the funded enterprise from the parent company and conducting
trial marketing at home;

(6)

Providing operational leasing services of machine and office equipments for the funded enterprise, or establishing an operational
leasing company according to the laws;

(7)

Providing services after selling for the products produced by the parent company.

(8)

Participating in overseas contracted projects of the Chinese enterprises that have the right to operate overseas contracted projects.

Article 15

The investment companies importing products according to Paragraph 3 and Paragraph 5 of Article 14 shall go through the formalities
according to the relevant provisions of the state. The funds used for import as mentioned above accumulated every year shall not
exceed the amount of the registered capital having been paid by the company.

Article 16

The investment company applying for operating the business of Article 14 of the provisions shall submit the following documents to
the Ministry of Commerce:

(1)

The application signed by the legal person of the investment company;

(2)

The agreement of the board of directors of the investment company;

(3)

The revised articles of association of the investment company;

(4)

The approval certificate (duplicated), the business license (duplicated) and the report of assets examination issued by a Chinese
registered accountant (duplicated) of the investment company;

(5)

The report of assets examination of the funded enterprises issued by a Chinese registered accountant;

(6)

Other documents required by the Ministry of Commerce.

Article 17

The period of operation of the investment company shall be verified based on the nature of the project it intends to establish according
to the provisions of the State on the duration of the foreign-funded enterprises.

Article 18

The investment company investing to establish an enterprise shall report for examination and approval according to the competence
and procedure for examination and approval of the foreign-funded enterprise.

Article 19

When an investment company invests to establish an enterprise, the proportion of the foreign investor’s investment exclusively by
himself or jointly with other investors discount to the investment company shall be no less than 25 percent of the investment company’s
registered capital. The enterprise invested by it shall enjoin the treatment of foreign-funded enterprise, and be issued with the
approval certificate and business license of the foreign funded enterprise.

Article 20

The establishment of branch offices by the investment companies shall report to the Ministry of Commerce for examination and approval.
The investment company applying to establish a branch company shall meet the following requirements:

(1)

The registered capital of the investment company having been paid on schedule according to the provisions of the contract and articles
of association, and the amount having been paid shall be no less than U.S.D30, 000,000; or the investment company has invested to
establish or own more than 10 foreign funded enterprises;

(2)

The locality where the branch company is to be located shall be the areas where the investment or sales of products of the investment
company are centralized.

Article 21

The investment company meeting the requirements may apply for being identified as the regional headquarter of a multinational corporation
(hereinafter referred to as the regional headquarter), and complete the procedure of change.

(1)

The investment company applying for being identified as the regional headquarter shall meet the following requirements:

i.

The registered capital having been paid is no less than U.S.D100, 000,000, or; the registered capital having been paid is no less
than U.S.D50, 000,000, the total amount of the assets in the year before the application shall be no less than RMB3, 000,000,000,
and the total amount of the profit shall be no less than RMB100, 000,000(accounted by merging the relevant provisions of the statements);

ii.

Meeting the provisions of Article 8 of the provisions;

iii.

Having established more than 2 science research and development organizations (among them at least an organization shall be the entity
of legal person)

(2)

The investment company having been identified as the regional headquarter may engage in the following business according to the actual
need when engaging in operational activities in China:

i.

The business provided in Article 10 ,Article 14 of the provisions;

ii.

Importing and selling the products of the multinational corporation at home;

iii.

Importing raw and auxiliary materials, parts and fittings of machines which are needed when providing maintenance services for the
products of the funded enterprises and the multinational corporation;

iv.

Carrying on the outsourcing business of the enterprises both at home and abroad;

v.

Engaging in goods delivery service according to the relevant provisions;

vi.

Establishing financial company and offering relevant financial services to the investment companies and the enterprises invested by
them after being approved by China Banking Regulatory Commission;

vii.

After being approved by the Ministry of Commerce, engaging in overseas contracted projects business and overseas investment, and establishing
leasing company for seeking funds and offering the relevant services;

viii.

Other business having been approved.

(3)

Procedure for examination and approval:

i.

The investment company makes application to the competent authority of commerce of the province, autonomous region, municipality directly
under the Central Government, or city directly under state planning for preliminary examination, then report to the Ministry of Commerce;

ii.

The Ministry of Commerce shall make examination and reply in 30 days since having received all the documents for application, and
issue the changed Approval Certificate of the Foreign-funded Enterprise (adding to mark “the Regional Headquarter”) to those being
identified as the regional headquarters;

iii.

The investment company shall apply for going trough the registration for the change.

(4)

Documents for application

i.

The application signed by the legal person of the investment company;

ii.

The agreement of the board of directors of the investment company and its multinational corporation;

iii.

The revised articles of association or contract of the investment company;

iv.

The approval certificate (duplicated), the business license (duplicated) and the report of assets examination issued by a Chinese
registered accountant (duplicated) of the investment company;

v.

The approval certificates (duplicated) and business license (duplicated) of the funded enterprises;

vi.

The report of assets examination of the funded enterprises issued by a Chinese registered accountant;

vii.

The major financial statement audited by a Chinese registered accountant;

viii.

Other documents required by the Ministry of Commerce.

Except having been marked as the duplicated copies, the above-mentioned documents shall uniformly be formal documents.

The “multinational corporation” mentioned in this Article means the parent company of the corporation group to which the foreign investor
who establishes the investment company belongs.

Article 22

The investing activities of the investment company within the territory of China shall not be limited for the registered place of
the company.

Article 23

The taxation of the investment companies shall be taxed according to the relevant laws and regulations of China.

Article 24

The investment company shall conscientiously execute the project investment plan, and report the information of investment and operation
of the first year to the Ministry of Commerce for archival purpose according to the provided content and form in the first three
months of the next year. The above-mentioned material shall be regarded as one of the necessary materials for the investment company
to report when conducting the united annual examination.

Article 25

The investment company and the enterprises invested by it shall be independent legal persons or entities. The business intercourse
between them shall be treated as the business intercourse of the independent enterprises.

Article 26

The investment company and the enterprises invested by it shall obey the laws, regulations and provisions of China, and shall not
adopt any means to escape the management and tax payment.

Article 27

The investment company shall not directly engage in the production activities.

Article 28

The investors from Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan Region investing to establish
the investment company in mainland of China shall meet the provisions.

Article 29

The Ministry of Commerce shall be responsible for the interpretation of the provisions.

Article 30

The Provisions shall take effect after 30 days as of the date of promulgation.



 
Ministry of Commerce
2004-02-13

 






NOTICE OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON RELEVANT ISSUES CONCERNING THE REGULATION OF FOREIGN EXCHANGE CONTROL OVER NON-RESIDENT INDIVIDUALS

State Administration of Taxation

Notice of the State Administration of Foreign Exchange on Relevant Issues Concerning the Regulation of Foreign Exchange Control over
Non-resident Individuals

HuiFa [2004] No. 6

February 16, 2004

The branches and departments of foreign exchange administration of the State Administration of Foreign Exchange (SAFE) of the provinces,
autonomous regions, and municipalities directly under the Central Government, the branches of Shenzhen, Dalian, Qingdao, Xiamen and
Ningbo; and the designated foreign exchange banks:

With the increase of activities of China with foreign countries, the scale of the foreign exchange business of non-resident individuals
has also been increasing. In order to regulate the acts of non-resident individuals of foreign exchange collection and payment, foreign
exchange settlement, and foreign exchange purchase, the relevant issues concerning the foreign exchange administration of non-resident
individuals are notified as follows in accordance with the Regulation of the People’s Republic of China on Foreign Exchange Administration
and other relevant provisions on foreign exchange administration:

1.

The term “non-resident individuals” refers to foreign natural persons (including stateless persons), Hong Kong, Macao, and Taiwan
compatriots, and the Chinese natural persons who hold Chinese passports but who have already obtained the right of permanent residence
overseas.

2.

Non-resident individuals shall follow the present Notice and other relevant provisions when handling foreign exchange collection and
payment, foreign exchange transfer, foreign exchange settlement, foreign exchange purchase, and the opening of foreign exchange account
in China.

Banks shall follow the present Notice and other relevant provisions when handling the business of non-resident individuals of foreign
exchange collection and payment, foreign exchange transfer, foreign exchange settlement, foreign exchange purchase, and the opening
of foreign exchange account.

3.

Regulation on the inflow of foreign exchange of non-resident individuals

1)

With respect to the foreign exchange remitted or foreign exchange cash carried by non-resident individuals into China from overseas,
the non-resident individuals may hold the sums by themselves or deposit them with the bank, draw foreign exchange cash or make foreign
exchange settlement.

2)

Where non-resident individuals open foreign exchange accounts with the banks within China, they shall abide by the principle of using
true name when opening bank account.

Where a non-resident individual opens a foreign exchange remittance account with foreign exchange capital instruments or bank notices
remitted from overseas, he/she shall open the account with the original of his/her true identity certificate (including foreign passport,
and the original certificate of overseas permanent residence, etc., hereinafter referred to as the true identity certificate).

Where a non-resident individual opens the foreign exchange cash account by taking with him/her foreign exchange cash, and the amount
deposited per day per person is less than 5,000 US dollars or the equivalent (including 5,000 US dollars or the equivalent, hereinafter
the same), he/she shall open the account on the strength of his/her true identity certificate; where the amount deposited per day
per person is more than 5,000 US dollars or the equivalent, the individual shall open the account on the strength of his/her true
identity certificate, the original declaration form for carrying foreign exchange cash into China of that individual (hereinafter
referred to as the declaration form), or the original bank form for withdrawal of foreign exchange cash of the original bank. The
bank shall indicate the amount and the time of deposit and the name of the deposit bank on the originals of the declaration form
and the bank form for withdrawal of foreign exchange cash, and shall return those originals to the non-resident individual.

A non-resident individual shall open a spot exchange account for the foreign exchange capital remitted from overseas, and shall open
a foreign exchange cash account for the foreign exchange cash carried into China from overseas.

3)

Where a non-resident individual collects foreign exchange remitted from overseas or draws foreign exchange cash from his/her foreign
exchange account in China, he/she shall handle the transaction with the bank on the strength of his/her true identity certificate.
Where the amount deposited per day per person is more than 10,000 US dollars or the equivalent, the individual shall, apart from
providing his/her true identity certificate, faithfully fill in the Form of Foreign Exchange Income and Expenditure of Non-resident
Individuals (see the attachment, hereinafter the same). The bank shall carefully check the contents filled in by the non-resident
individual against the materials supplied by that individual.

4)

When handling foreign exchange settlement, a non-resident individual shall faithfully explain to the bank the usage of the foreign
exchange to be settled, and fill in the Form of Foreign Exchange Income and Expenditure of Non-resident Individuals. The bank shall
carefully check the contents filled in by the non-resident individual against the materials supplied by that individual.

Where a non-resident individual settles foreign exchange in his/her foreign exchange account, and if the amount settled per day per
person is less than 10,000 US dollars or the equivalent, he/she shall handle the transaction directly at the bank; if the accumulated
settled amount per person per month exceeds 50,000 US dollars or the equivalent, the individual shall file an application with the
local foreign exchange administration, and handle the transaction at the bank after the foreign exchange administration examines
and confirms that the usage is in compliance with the provisions (such usages shall include trade settlement, purchase of real properties,
as well as durable goods such as automobiles for personal use, etc.). With respect to direct settlement of foreign exchange remitted
from overseas, the individual shall, apart from handling pursuant to the abovementioned provisions, provide his/her true identity
certificate to the bank or the foreign exchange administration.

Where a non-resident individual settles the foreign exchange cash he/she holds, and the amount to be settled per person each time
is less than 5,000 US dollars or the equivalent, he/she shall handle the transaction on the strength of his/her true identity certificate;
where the amount settled per person each time is more than 5,000 US dollars or the equivalent, he/she shall handle the transaction
on the strength of his/her true identity certificate, the original declaration form, or the original bank form for withdrawal of
foreign exchange cash of the original bank. The bank shall indicate on the original declaration form and the original bank form for
withdrawal of foreign exchange cash the amount settled, the time of settlement, and the bank of settlement, and shall return those
originals to the non-resident individual.

4.

Where a non-resident individual makes transfer of foreign exchange capital in China, he/she shall faithfully explain to the bank the
usage of the capital transferred, and fill in the Form of Foreign Exchange Income and Expenditure of Non-resident Individuals. The
bank shall, on the basis of careful check of the contents filled in by the non-resident individual against the materials supplied
by the non-resident individual, handle the capital transfer only between the foreign exchange accounts of the same nature of that
individual.

5.

Regulation of the administration on the outflow of foreign exchange from non-resident individuals

1)

Where a non-resident individual needs to remit to overseas the deposit in his/her foreign exchange remittance account and foreign
exchange cash account, he/she shall handle the transaction directly at the bank, and fill in the Form of Foreign Exchange Income
and Expenditure of Non-resident Individuals. The bank shall carefully check the contents filled in by the non-resident individual
against the materials supplied by that individual.

2)

Where a non-resident individual needs to remit to overseas the foreign exchange cash he/she holds, and the amount remitted is less
than 5,000 US dollars or the equivalent, he/she shall handle the transaction at the bank on the strength of his/her true identity
certificate; where the amount remitted is more than 5,000 US dollars or the equivalent, he/she shall handle the transaction on the
strength of his/her true identity certificate and the declaration form. The bank shall indicate on the original declaration form
of the non-resident individual the amount remitted out, the date of remittance, and the name of the remitting bank, and shall return
the original to the non-resident individual.

3)

Where a non-resident individual purchases foreign exchange for remitting out his/her legitimate income in RMB, or converts into foreign
exchange the RMB remained upon his/her exit of China, he/she may follow the existing provisions on the transaction.

6.

A non-resident individual may entrust others to handle the abovementioned transactions for him/her within China. Where any other person
is entrusted, the written certificate of entrustment, the original identity certificate of the person entrusted and the photocopy
thereof, and the various certifications as prescribed in the above provisions shall be provided.

7.

When handling foreign exchange business of non-resident individuals, the bank shall distinguish such business from that of resident
individuals, and shall make notations for distinction.

8.

After finishing the foreign exchange business of non-resident individuals, the foreign exchange administration or bank shall keep
for five years for reference the photocopies of the identity certificates of the non-resident individual and the person entrusted
thereby, the photocopy of the bank form for foreign currency withdrawal, and the Form of Foreign Exchange Income and Expenditure
of Non-resident Individuals, as well as the photocopies of other certifications.

9.

Where non-resident individuals carry foreign exchange cash out of China, the relevant provisions in the Interim Measures for the Administration
of Carrying of Foreign Exchange Cash into and out of China shall be strictly abided by.

10.

The foreign exchange income and expenditure occurring under the capital account for trading of B shares etc of non-resident individuals
shall be governed by the existing relevant provisions of the SAFE.

11.

Where collections and payments involving foreign elements are transacted through banks within China, international balance statistics
reports shall be made in accordance with the relevant provisions of the Measures for International Balance Statistics Report, and
the Notice of the State Administration of Foreign Exchange on the Relevant Issues concerning the Strengthening of Statistics Monitoring
of B Shares and other Cross-border Capital Flows (No.72 [2001] of SAFE).

12.

When handling the foreign exchange business of non-resident individuals, the banks shall report the relevant transaction information
in accordance with the relevant provisions in the Measures for the Administration of Report of Large-amount and Doubtful Transactions
of Foreign Exchange Capital by Financial Institutions.

13.

The banks shall handle the foreign exchange business of non-resident individuals in accordance with the present Notice, and subject
themselves to the supervision and inspection of foreign exchange administrations.

14.

The local foreign exchange administrations shall, in accordance with the provisions hereof and in conjunction with the relevant financial
regulatory departments, strengthen the supervision and inspection of the foreign exchange business of non-resident individuals. The
foreign exchange administrations may punish any party that violates the provisions hereof in accordance with the Regulation of the
People’s Republic of China on Foreign Exchange Administration and other relevant provisions.

15.

The present Notice shall come into force as of March 1st, 2004. Where any previous relevant provisions conflict with the provisions
hereof, the latter shall prevail.

The branches of SAFE shall, after receiving this Notice, transmit it to the sub-branches, foreign-funded banks, and urban commercial
banks under their respective jurisdictions as soon as possible. The Chinese-funded designated foreign exchange banks shall transmit
it to their branches as soon as possible. In case of any problem encountered in the implementation, please feedback it to SAFE in
good time.

Attachment: Form of Foreign Exchange Income and Expenditure of Non-resident Individuals (omitted)



 
State Administration of Taxation
2004-02-16

 






AGREEMENT ON THE PROMOTION AND PROTECTION OF INVESTMENTS BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF BENIN

AGREEMENT ON THE PROMOTION AND PROTECTION OF INVESTMENTS BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT
OF THE REPUBLIC OF BENIN

The Government of the People’s Republic of China and the Government of the Republic of Benin (hereinafter referred to as the Contracting
Parties),

Desiring to create favorable conditions for investment by investors of one Contracting Party in the territory of the other Contracting
Party;

Recognizing that the reciprocal encouragement, promotion and protection of such investment on the basis of equality and mutual benefits
will be conducive to stimulating business initiative of the investors and will increase prosperity in both States;

Convinced that the promotion and protection of these investments would succeed in stimulating transfers of capital and technology
between the two States in the interest of their economic development;

Aware that each Contracting Party is enpost_titled to stipulate the laws on the establishment and administration of the investment in its
territory;

Have agreed as follows:

Article 1

DEFINITIONS

For the purpose of this Agreement,

1,

The term “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 particularly, though not exclusively, includes:

(a)

movable and immovable property and other property right such as mortgages, pledges, liens, usufructs and similar rights;

(b)

shares, debentures, stock and any other kind of participation in companies;

(c)

claims to money or to any other performance having an economic value associated with an investment;

(d)

intellectual and industrial property rights, in particular, copyrights, patents, trade-marks, trade-names, technical process, know-how
and good-will;

(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 does not affect their character as investments provided that such change is in
accordance with the laws and regulations of the Contracting Party in whose territory the investment has been made.

2,

The term “investor” means,

(a)

natural person who, in accordance with the laws of the people’s Republic of China or of the Republic of Benin, has nationality of
the People’s Republic of China or of the Republic of Benin respectively;

(b)

legal entity, including company, association, partnership and other organizations, incorporated or constituted under the laws and
regulations of the People’s Republic of China or of the Republic of Benin and having its registered office in the territory of the
People’s Republic of China and the Republic of Benin respectively.

3,

The term “return” means the amounts yielded from investments, including profits, dividends, interests, capital gains, royalties,
fees and other legitimate income.

4,

The term “territory” means the territory of each Contracting Party as well as the maritime zones adjacent to the external demarcation
of the territorial sea, in which each of Contracting Parties, in accordance with international law, exercise sovereign rights and/or
jurisdiction.

Article 2

PROMOTION AND PROTECTION OF INVESTMENT

1,

Each Contracting Party shall endeavor to promote investments made by investors of the other Contracting Party in its territory and,
shall admit and protect such investments in accordance with its laws and regulations.

2,

Investments of the investors of either Contracting Party shall enjoy the full and complete protection and safety in the territory
of the other Contracting Party.

3,

Investments of investors of each Contracting Party shall all the time be accorded fair and equitable treatment in the territory of
the other Contracting Party.

4,

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

5,

Subject to its laws and regulations, one Contracting Party shall provide assistance and facilities for obtaining visas and working
permit to nationals of the other Contracting Party engaging in activities associated with investments made in the territory of that
Contracting Party.

Article 3

NATIONAL TREATMENT AND MOST-FAVORED-NATION TREATMENT

1,

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

2,

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

3,

The provisions of Paragraph 2 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors
of the other Contracting Party the benefit of any treatment, preference or privilege by virtue of :

(a)

any customs union, free trade zone, economic union and any international agreement resulting in such unions, or similar institutions;

(b)

any international agreement or arrangement relating to taxation;

(c)

any arrangements for facilitating small scale frontier trade in border areas.

Article 4

EXPROPRIATION

1,

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, unless the following conditions are met:

(a)

for the public interests;

(b)

under domestic legal procedure;

(c)

without discrimination;

(d)

against compensation.

2,

The compensation mentioned in Paragraph 1 of this Article shall be equivalent to the value of the expropriated investments immediately
before the expropriation is taken or the impending expropriation becomes public knowledge, whichever is 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 also be made without delay, be effectively
realizable and freely transferable.

Article 5

COMPENSATION FOR DAMAGES AND LOSSES

Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war or
other armed conflicts a state of national emergency, insurrection, riot, revolt or other similar events occurring in the territory
of the latter Contracting Party, shall be accorded by the said Contracting Party treatment, as regards restitution, indemnification,
compensation and other settlements no less favorable than that accorded to the investors of its own or any third State, whichever
is more favorable to the investor concerned.

Article 6

TRANSFERS

1,

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

(a)

profits, dividends, interests and other legitimate income;

(b)

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

(c)

payments pursuant to a loan agreement in connection with investments;

(d)

royalties or fees in relation to intellectual and industrial property rights referred to in Paragraph 1 (d) of Article 1 ;

(e)

payments of technical assistance or technical service fee, management fee;

(f)

payments in connection with contracting projects;

(g)

earnings of nationals of the other Contracting Party who work in connection with an investment in its territory.

2,

Nothing in Paragraph 1 of this Article shall affect the free transfer of compensation paid under Article 4 and 5 of this Agreement.

3,

The transfer mentioned above shall be made in a freely convertible currency and at the prevailing market rate of exchange applicable
within the Contracting Party accepting the investments and on the date of transfer.

4,

In the absence of a market for foreign exchange, the rate to be used shall be the most recent exchange rate for the conversions of
currencies into Special Drawing Rights.

Article 7

SUBROGATION

If one Contracting Party or its designated agency makes a payment to its investors under a guarantee or a contract of insurance against
non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter
Contracting Party shall recognize:

(a)

the assignment, whether under the law or pursuant to a legal transaction in the former Contracting Party, of any rights or claims
by the investors to the former Contracting Party or to its designated agency, as well as,

(b)

that the former Contracting Party or its designated agency is enpost_titled by virtue of subrogation to exercise the rights and enforce
the claims of that investor and assume the obligations related to the investment to the same extent as the investor.

Article 8

SETTLEMENT OF DISPUTES BETWEEN CONTRACTING PARTIES

1,

Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible,
be settled with consultation through diplomatic channel.

2,

If such a dispute cannot thus be settled within six (6) months subsequent to the beginning of the consultation, it shall, upon the
request of either Contracting Party, be submitted to an ad hoc arbitral tribunal.

3,

Such tribunal comprises of three arbitrators. Within three (3) months of the receipt of the written notice requesting arbitration,
each Contracting Party shall appoint one arbitrator. Those two arbitrators shall, within further two (2) months, together select
a national of a third State having diplomatic relations with both Contracting Parties as Chairman of the arbitral tribunal.

4,

If the arbitral tribunal has not been constituted within five (5) months from the receipt of the written notice requesting arbitration,
either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to
make any necessary appointments. If the president is a national of either Contracting Party or is otherwise prevented from discharging
the said functions, the Member of the International Court of Justice 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 such necessary appointments.

5,

The arbitral tribunal shall determine its own procedure and shall reach its award in accordance with the provisions of this Agreement
and the principles of international law accepted by both Contracting Parties.

6,

The arbitral tribunal shall reach its award by a majority of votes. Such award shall be final and binding upon both Contracting Parties.
The arbitral tribunal shall, upon the request of either Contracting Party, explain the reasons of its award.

7,

Each Contracting Party shall bear the costs of its appointed arbitrator and of its representation in arbitral proceedings. The relevant
costs of the Chairman as well as any other cost of the tribunal shall be borne in equal parts by the Contracting Parties.

Article 9

SETTLEMENT OF DISPUTES BETWEEN INVESTORS AND ONE CONTRCTING PARTY

1,

Any dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the
territory of the other Contracting Party shall, as far as possible, be settled amicably through consultations between the parties
to the dispute.

2,

If the dispute cannot be settled through consultations within six (6) months from the date it has been raised by either party to
the dispute, it shall be submitted by the choice of the investor, either to the competent court of the State where the investment
was made, or to international arbitration.

3,

In case of international arbitration, the dispute shall be submitted, at the option of the investor, to:

(a)

International Center for Settlement of Investment Disputes (ICSID) under the Convention on the Settlement of Disputes between States
and Nationals of Other States, done at Washington on March 18, 1965; or

(b)

An ad hoc arbitral tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL);

Provided that the Contracting Party involved in the dispute may require the investor concerned to go through the domestic administrative
review procedures specified by the laws and regulations of that Contracting Party before the submission to international arbitration.

4,

Once the investor has submitted the dispute to the competent court of the State where the investment was made, to the ICSID, or to
the ad hoc arbitral tribunal referred to in Paragraph 2 and 3 of this Article, the choice of one of the three procedures shall be
final.

5,

The arbitral tribunal shall make arbitral award based on:

(a)

provisions of this Agreement;

(b)

laws of the State where the investment was made including its rules on the conflict of laws;

(c)

the principles of international law accepted by both Contracting Parties;

(d)

specific bilateral agreements on investment between the Contracting Parties;

(e)

other international treaties on investment to which both Contracting Parties are or may become parties.

6,

The arbitral award shall be final and binding upon both parties to the dispute. Both Contracting Parties shall commit themselves
to the enforcement of the award.

Article 10

OTHER OBLIGATIONS

1,

If the legislation of either Contracting Party or international obligations existing at present or established hereafter between
the Contracting Parties result in a position entitling investments by investors of the other Contracting Party to a treatment more
favorable than is provided for by the Agreement, such position shall not be affected by this Agreement.

2,

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

Article 11

APPLICATION

This Agreement shall apply to investment made prior to or after its entry into force by investors of one Contracting Party in the
territory of the other Contracting Party in accordance with the laws and regulations of the Contracting Party concerned, but not
apply to the dispute arose before its entry into force.

Article 12

CONSULTATIONS

1,

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

(a)

reviewing the implementation of this Agreement;

(b)

exchanging information and investment opportunities;

(c)

resolving disputes arising out of investments;

(d)

forwarding proposals on promotion of investment;

(e)

studying other issues in connection with investment.

2,

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

Article 13

ENTRY INTO FORCE, DURATION AND TERMINATION

1,

This Agreement shall enter into force on the thirtieth (30) day following the date on which both Contracting Parties have notified
each other in writing that their respective internal legal procedures necessary therefor have been fulfilled.

2,

This Agreement shall remain in force for a period of ten (10) years and shall thereafter remain in force for the same term until
either Contracting Party notifies the other in writing to terminate it six (6) months before the expiration of such a period.

3,

With respect to investments made prior to the date of termination of this Agreement, the provisions of this Agreement shall continue
to be effective for a further period of ten (10) years from such date of termination.

Article 14

AMENDMENT

This Agreement may be amended by written agreement between the Contracting Parties. Any amendment shall enter into force under the
same procedures required for entry into force of this Agreement.

IN WITNESS WHEREOF the undersigned, duly authorized thereto by respective Governments, have signed this Agreement.

Done in duplicate in Beijing on February 18,2004, in the Chinese, French and English languages, all texts being equally authentic.

For the Government of￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿For the Government of

The People’s Republic of China￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿￿The Republic of Benin



 
The Government of the People’s Republic of China
2004-02-18

 






CONSTITUTION ACT, 1982 – page 22

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

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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