THE SUPPLEMENTARY CIRCULAR OF THE MINISTRY OF FINANCE AND THE MINISTRY OF COMMERCE ON THE SUPPORT OF THE PRIOR PERIOD EXPENSES OF OVERSEAS INVESTMENT IN RESOURCE AND FOREIGN ECONOMIC COOPERATION PROJECT IN 2004

The Ministry of Finance, the Ministry of Commerce

The Supplementary Circular of the Ministry of Finance and the Ministry of Commerce on the Support of the Prior Period Expenses of
Overseas Investment in Resource and Foreign Economic Cooperation Project in 2004

Cai Qi [2005] No. 85

June 17, 2005

The financial departments (bureaus) and competent departments of commerce of all provinces, autonomous regions, cities directly under
the central government and the cities specifically designated in the state plan, the Bureau of Finance and Bureau of Commerce of
Xinjiang Production and Construction Corps, and all Chinese economic and commercial institutions abroad and all enterprises under
the central authorities:

The Ministry of Finance and the Ministry of Commerce jointly promulgated the Circular of the Ministry of Finance and the Ministry
of Commerce on the Support of the Prior Period Expenses of Overseas Investment in Resource and Foreign Economic Cooperation Project
in 2004 (Cai Qi [2004] No.176, hereinafter referred to as the Circular) with a view to implementing the “going out” strategic spirit
of the Sixteenth National Congress of the CPC, encouraging and supporting the enterprise with comparative advantage to conduct overseas
investment in resource and to use overseas resources to develop foreign economic technologic cooperation, after deliberation, related
issues are supplemented as follows in accordance with the requirements of business:

I.

The foreign economic cooperation project concerning resource as referred to in Article 1 of the Circular means the foreign contract
projects conducted in overseas resource field, the foreign contract projects with the resource as means of payment or the foreign
contract projects purporting to obtain the resource exploiting, developing and use right.

II.

Paragraph 5 of article 4 of the Circular stipulates that “the registration of overseas enterprise or the concluding time of contract
shall be between January 1, 2004 and December 31, 2004”, and in considering the real circumstances and the continuity of business,
this paragraph is amended to be “the registration of overseas enterprise or the concluding time of contract shall be between January
1, 2003 and December 31, 2004”

III.

With respect to other projects concerning resource rather than the projects specially supported, the enterprise may submit application;
the Ministry of Finance and the Ministry of Commerce will conduct whole consideration of the support of special projects.

IV.

The submitting time of applying material is postponed for 15 days with a view to enhancing the application of enterprise and the dissemination
and preliminary examination by local authorities in charge. The enterprise shall prepare and submit materials in strict accordance
with the provisions of documents and the requirements in the attachment. The subordinated enterprises to the enterprises directly
under the central authority shall be examined and submitted in a unified way by the group.

V.

In order to decrease the workload in the application of the enterprise, the application request submitted jointly by all authorities
at provincial level shall be delivered to the Ministry of Finance (Department of Enterprise) and the Ministry of Commerce (Department
of Planning and Finance), one copy of the specific applying material may be submitted together with the application request to the
Ministry of Commerce (Department of Planning and Finance).

It is thereby notified.

The attachment:

1.

The project-compiling guide

2.

The account for application of enterprise

3.

The Opinion of Chinese Economic and Commercial Counselor’s Office in (location)

4.

Schedule of the fees in the preliminary stage of the overseas investment in resource and the foreign economic cooperation project

5.

The Summary of the preliminary examination of the fees at preliminary stage of the overseas investment of resource kind and the foreign
economic cooperation project

Attachment 1:The Project-Compiling Guide

I.

The enterprise shall, depending on projects, bind up all submitted materials to volumes in the way as the accounting books are bound
up;

II.

The material for each project shall include but not limited to the following material.

(1)

Cover, the contents of the cover include: the nature of the project (overseas investment or economic cooperation); the name of the
project (the location of the project, the name of the mine, and the name of the overseas enterprise [Chinese and English]); the name
of the project applying enterprise (with common seal).

(2)

The list of the materials of the project submitted.

(3)

The application report of the project. The application shall include: the basic information of the enterprise; the basic investment
of the project (or contractual amount), the total prior period expenses and the amount applied for support, etc.

(4)

An account for the application of the project (see attachment 2).

(5)

The business license of the project applying enterprise.

(6)

The approval certificate of related authority for overseas investment project or for project contract and relevant certificate for
passing annual examination.

(7)

The business license registered in the country where the project is located (Chinese and English).

(8)

The account material of the economic and commerce counselor’s office of China in the country where the project is located.

(9)

The approval certificate of foreign exchange administrative authority for foreign exchange verification and fund remittance.

(10)

The record table of the overseas mine resource development project.

(11)

The audited report of the applying enterprise of 2003 and 2004.

(12)

The project feasibility study report (Chinese).

(13)

The investment (economic cooperation project) contract (only provide the Chinese and English version of the relevant part concerning
the prior period expenses).

(14)

The schedule of the prior period expenses (see attachment 4).

(15)

The prior period expenses proof of the project, including, payment voucher, accounting voucher, fees payment contract, the payment
voucher with a single fee exceeding 100,000RMB shall add common seal on the copies thereof.

III.

The materials submitted by the provincial authorities (including the enterprise under central authority, the same below) shall include
the following contents:

(1)

The application report of preliminary fees jointly submitted to the Ministry of Finance and the Ministry of Commerce.

(2)

The Summary of the prior period expenses of the overseas investment in resource and the foreign economic cooperation project (see
attachment 5)

(3)

The materials of the project applying enterprise that has been bound up to volumes.

htm/e04110.htmAttachment 2

￿￿

Attachment 2:

The Account for the Application of Enterprise

￿￿￿￿Note: 1. The signature column of legal representative or the authorizer of the applying enterprise shall be singed by hand, name
stamp is invalid;

￿￿￿￿2. Where singed by the authorizer, the original copy of power of attorney signed by the legal representative and sealed with the
common seal of the company shall be submitted;

￿￿￿￿3. The information of the bank account shall be the account of the company and for prior period fund. Please fill in it correctly.

￿￿

Attachment 3:

The Opinion of Chinese Economic and Commercial Counselor’s Office in (location)

Name of project	￿￿
City where the project situates	￿￿
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