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SIX INDUSTRY STANDARD NUMBERS AND post_titleS

Ministry of Commerce

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

No. 6

Ministry of Commerce has authorized 6 recommended foreign trade industry standards, now they are publicized and take effect as of
April 1, 2005.

Ministry of Commerce of the People’s Republic of China

February 16, 2005

Six Industry Standard Numbers and post_titles

1.

WM/T 2-2004 Green Industry Standard of Foreign Trade for Medicinal Plants and Preparation (Replace the former WM2-2001 Green Industry
Standard of Import and Export for Medicinal Plants and Preparation)

2.

WM/T 3-2004 St.John’s Wort Extract Hypericins

3.

WM/T 4-2004 Angelica Extract

4.

WM/T 5-2004 Citrus Aurantinum Extract

5.

WM/T 6-2004 Red Clover Extract

6.

WM/T 7-2004 Valerian Root Extract



 
Ministry of Commerce
2005-02-16

 






DECREE OF THE NATIONAL TOURISM ADMINISTRATION AND THE MINISTRY OF COMMERCE

the National Tourism Administration, the Ministry of Commerce

Decree of the National Tourism Administration and the Ministry of Commerce

[2005]No. 20

With a view to accommodating to the requirement of opening to the outside world of national tourism industry and promoting the development
of national tourism industry, the National Tourism Administration and the Ministry of Commerce decided to make the following amendment
to the Interim Provisions on the Establishment of Foreign-funded Share-Holding and Wholly Foreign-funded Travel Agencies according
to the relevant provisions of Article 28 of the Regulations on the Administration of Travel Agencies.

1.

Paragraph 4 of Article 6 shall be revised as: the registered capital shall be not less than RMB 2.5 million Yuan.

2.

Article 7 shall be deleted.

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

He Guangwei, Director General of the National Tourism Administration

Bo Xilai, Minister of the Ministry of Commerce

February 17th, 2005



 
the National Tourism Administration, the Ministry of Commerce
2005-02-17

 






INVESTIGATION RULES OF FOREIGN TRADE BARRIER

Ministry of Commerce

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

No. 4

Investigation Rules of Foreign Trade Barrier was adopted at the 1st Ministerial Conference of Ministry of Commerce on January 21,
2005. It is hereby promulgated and shall be implemented as of March 1, 2005.

Minister of Ministry of Commerce, Bo Xilai

February 2, 2005

Investigation Rules of Foreign Trade Barrier

Chapter I General Principles

Article 1

For the purposes of developing and regulating the investigation on foreign trade barrier, eliminating the influences of foreign trade
barrier on our country’s trade to foreign countries, promoting normal development of foreign trade, these rules are formulated in
accordance with Foreign Trade Law of the People’s Republic of China.

Article 2

Ministry of Commerce is responsible for the investigation on foreign trade barrier.

Ministry of Commerce designates Fair Trade Bureau of Import and Export to be responsible for the implementation of these rules.

Article 3

The measures or activities made or supported by the government of foreign countries (regions) are regarded as trade barrier in case
of one of following circumstances:

1.

Violate the economic treaty or agreement that the country (region) concluded or participated together with our country, or fails to
implement the obligations stipulated by economic trade treaty or agreement that the country (region) concluded or participated together
with our country;

2.

Create one of following unfavorable influences:

Cause or may cause hamper or restriction of the products or service of our country to entry the market of the country (region) or
the third country (region);

Cause or may cause injury to the competitiveness of the products or service of our country in the market of the country (region) or
the third country (region);

Cause or may cause hamper or restriction of the export of the products or service of the country (region) or the third country (region)
to our country.

Article 4

Ministry of Commerce may place the case on file for trade barrier investigation at the request of the applicant.

Ministry of Commerce may place the case on file for trade barriers investigation on its free will as it deems necessary.

Chapter II Investigation Application

Article 5

Domestic enterprises and industries or natural persons, legal persons on behalf of domestic enterprises and industries or other organizations
(hereinafter referred to as “the applicants”) may make an application for trade barrier investigation to Ministry of Commerce.

Domestic enterprises and industries in terms of above paragraph mean the enterprises or industries that have a direct bearing with
the products or service under trade barrier investigation.

Article 6

The application for trade barrier investigation must be submitted in the form of writing.

Article 7

The application letter should include following information:

1.

Name, address and related information of the applicant;

2.

The explanation of measures or ways applied for investigation;

3.

The explanation of the products or service that the measures or ways applied for investigation aim at;

4.

General explanation of relevant domestic industries;

5.

The explanation of unfavorable influences if the measures or ways applied for investigation have caused unfavorable influences;

6.

Other content the applicant deems it necessary to explain.

Chapter III Examination and Put a Case on File

Article 8

The application letter should attach following evident materials and explain the source:

1.

The evident materials that prove the existence of the measures or ways applied for investigation;

2.

The evident materials that prove the unfavorable influence caused by the measures or ways applied for investigation;

Any applicant who could not submit above materials should explain the reason by writing.

Article 9

The applicant may recall the application before Ministry of Commerce makes the decision of the investigation.

Article 10

Ministry of Commerce should examine the application materials and makes the decision on starting an investigation or not within 60
days at the receipt of the application letter and relevant evident materials.

Article 11

Ministry of Commerce may request the applicant to provide supplementary materials within a set time limit during the examination of
the application materials.

Article 12

Ministry of Commerce should decide to start an investigation and publish it by announcement if the application materials submitted
by the applicant accord with the provisions of Article 6 and 7 of these Rules and are not the circumstances in terms of Article
16 , Paragraph 1, 3 and 4.

To the cases that Ministry of Commerce decides to put on a file should also be published by announcement.

Article 13

The announcement for investigation should make clear the measures or ways under investigation, the products or service relating to
the measures and ways under investigation, and the country (region) where the measures and ways are under investigation (hereinafter
referred to as “the country (region) under investigation”), introduce briefly the available information and make clear the time limit
that the interested parties set out their views and the public make comments.

Article 14

Ministry of Commerce should inform the applicant, known export and import managers, the government of the country (region) under investigation
and other interested parties after the publication of the announcement for the investigation.

Article 15

The publication day of the announcement is the date that the investigation starts.

Article 16

Ministry of Commerce may make a decision not to start an investigation in case of one of following circumstances:

1.

The description in terms of the application materials submitted by the applicant does not accord with the facts;

2.

The application materials submitted by the applicants are not complete and the applicant does not provide supplementary materials
within the time limit set by Ministry of Commerce.

3.

The measures or ways applied for investigation by the applicant are obviously not subjected to trade barrier in terms of Article 3
of these Rules;

4.

Other circumstances that Ministry of Commerce deems unnecessary to start an investigation on.

Article 17

Ministry of Commerce should inform the applicant by writing and make clear the reason why it does not start an investigation.

Chapter IV Investigation and Confirmation

Article 18

Ministry of Commerce should confirm by investigation whether the measures or ways under investigation has constituted trade barrier
in terms of Article 3 of these Rules.

Article 19

Ministry of Commerce may use any information collected initiatively during the investigation.

Article 20

Ministry of Commerce may establish expert consultation group constituted by relevant departments of State Council, experts and scholars
when it deems necessary. The expert consultation group is responsible for providing comments on technical and lawful issues relating
to the investigation.

Article 21

Ministry of Commerce may seize up the situation and make the investigation by questionnaires, hearings and other ways.

Article 22

Ministry of Commerce may send staffs to the country (region) to make investigations and gather evidence with the agreement of the
government of the country (region) under investigation when it deems necessary.

Article 23

The interested parties may apply to Ministry of Commerce for dealing with their materials as classified ones if they think it will
cause harmful influence in case of the disclosing of the materials they submitted.

Article 24

If Ministry of Commerce thinks the application for keeping secrete is proper, it should treat the materials provided by the interested
parties as classified ones and ask the interested parties for an un-classified summary of the materials.

Without the agreement of the interested parties who provide the materials, Ministry of Commerce may not use the materials treated
as confidential ones beyond the use of trade barrier investigation.

Article 25

During the investigation, Ministry of Commerce may make consultations with the country (region) under investigation about the measures
and ways under investigation.

Article 26

Ministry of Commerce May decide to terminate the investigation and publish it by announcement in case of one of following circumstances:

1.

The government of the country (region) under investigation promises to cancel or readjust the measures or ways within proper time
limit;

2.

The government of the country (region) under investigation promises to provide our country with proper trade compensation within proper
time limit;

3.

The government of the country (region) promises to perform the obligations of economic trade treaty or agreement;

4.

Other circumstances that Ministry of Commerce thinks the investigation may be ended.

Article 27

If the government of the country (region) under investigation does not perform the promises in Article 26 , Paragraph 1 to 3 of these
Rules, Ministry of Commerce may resume its investigation. As for the investigation that Ministry of Commerce decided to end in accordance
with Article 26 , Paragraph 4 of these Rules, the investigation may be resumed after the elimination of the circumstances..

Article 28

Ministry of Commerce may terminate the procedure of the investigation except that it deems the termination of the investigation procedure
does not accord with public interests.

Article 29

Ministry of Commerce should terminate the investigation and publish it by announcement in case of one of following circumstances:

1.

The government of the country (region) has canceled or readjusted the measures or ways under investigation;

2.

The government of the country (region) has provided our country with proper trade compensation;

3.

The government of the country (region) has performed the obligations of economic trade treaty or agreement;

Article 30

Ministry of Commerce may terminate the investigation and make an announcement in case of one of following circumstances:

1.

The applicant does not provide proper cooperation during investigation;

2.

Other circumstances that Ministry of Commerce thinks the investigation may be terminated.

Article 31

Ministry of Commerce should make a decision and announcement on whether the measures or ways constitute the trade barrier in terms
of Article 3 of these Rules.

Article 32

Trade barrier investigation should be finished within 6 months as of the day of announcement for the investigation. It may be prolonged
in case of special circumstances, but it should not exceed 3 months.

Article 33

If the measures or ways under investigation are confirmed to constitute trade barrier in terms of Article 3 of these Rules, Ministry
of Commerce should take following measures according to the circumstances:

1.

Hold bilateral consultations;

2.

Start settlement mechanism of multilateral dispute;

3.

Take other proper measures.

Chapter V supplementary Articles

Article 34

The announcement made in accordance with these Rules should make clear important conditions, facts, reasons, foundations, results
and conclusions.

Article 35

The investigation on foreign investment barrier should be implemented according to these Rules.

Article 36

The interpretation of these Rules should be vested in Ministry of Commerce.

Article 37

These Rules shall come into effect as of March 1, 2005.



 
Ministry of Commerce
2005-02-02

 






THE CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON EXEMPTING REFUNDABLE PERSONAL INSURANCE WITH A TERM MORE THAN ONE YEAR FROM BUSINESS TAX

The Ministry of Finance, the State Administration of Taxation

The Circular of the Ministry of Finance and the State Administration of Taxation on Exempting Refundable Personal Insurance with a
Term more than One Year from Business Tax

Cai Shui [2005] No.21

Some local taxation authorities and related insurance companies require exempting from business tax on the common life insurance with
a term more than one year (one year is included, the same below) that returns capital and interests, pension & annuities insurance
and health insurance products with a term more than one year that are newly sold by insurance companies. After deliberation, it is
now notified as follows: pursuant to relevant provisions of the Circular on Exemption from Business Tax on Certain Projects (Cai
Shui Zi [1994] No.002) and the Circular of the Ministry of Finance and the State Administration of Taxation on Certain Issues concerning
the Exemption from Business Tax on Life Insurance Business (Cai Shui [2001] No.118), it is decided after examination and verification
to exempt from business tax on the premiums gained from the insurance products which are sold by related insurance companies and
satisfy the conditions of exemption from tax, and the list of the insurance products exempted from tax is attached to the Appendix.

Ministry of Finance

State Administration of Taxation

February 2, 2005 Appendix:The List of the Insurance Products Exempted from Tax

I.

PING AN INSURANCE (GROUP) COMPANY OF CHINA ,LTD.

1.

Ping An Group Term Life Insurance

2.

Ping An Happiness Term Life Insurance (A) (1999)

3.

Ping An Happiness Term Life Insurance (B) (1999)

4.

Ping An Jubaopen Endowment Insurance (A)

5.

Ping An Jubaopen Endowment Insurance (B)

6.

Ping An Zhifurensheng Whole Life Insurance (Universal , A)

7.

Ping An Zhifurensheng Whole Life Insurance (Universal , B)

8.

Ping An Extraneous Term Life Insurance(2000)

9.

Pension Insurance (profit difference refundable)

10.

Ping An Ruyijiujiu Group Annuity Insurance

11.

Ping An One-year Term Life Insurance for Students

12.

Ping An Group One-year Term Life Insurance(9906)

13.

Ping An Group Dread Disease Insurance (B)

14.

Ping An Group Dread Disease Insurance for Hospital Allowance Receipt

II.

the China Pacific Life Insurance Co., LTD.

1.

Hongkuihua Endowment Insurance for Children

2.

Group Annuities Insurance (Yi)

3.

Management Group Health Insurance

4.

Lihaoduo Endowment Insurance (A)

5.

Lihaoduo Endowment Insurance (B)

6.

Group Personal Insurance (June, 1999)

7.

Group Personal Insurance for Teachers and Students

8.

Lihaoduo Endowment Insurance (C)

9.

Taiping Shengshi Changfa Endowment Insurance (Universal )

10.

Honglifa Endowment Insurance ( Dividend)

11.

Xiaokongzhijia Jinyumantang Endowment Insurance ( Dividend)

12.

Shijihong Endowment Insurance

13.

Ruiheng Enterprise Annuities Group Investment-linked Life Insurance

14.

Hongfulai Annuities Insurance (A)

15.

Hongfulai Annuities Insurance (B)

16.

Hongfulai Annuities Insurance (C)

17.

Bubugao Convertible Pension Insurance

18.

Bubugao Increased Value and Extraneous Old-age Insurance

19.

Taiping Ankang Life Insurance (B)

20.

Xueyousuocheng Profits-Refundable Comprehensive Insurance

21.

Xingfurensheng Progressive Whole Life Insurance

III.

China Life Insurance Company limited

1.

Guoshou Insurance Compensation Convertible to Annuities Insurance

2.

Guoshouyongtai Group Annuities Insurance (Dividend)

3.

Guoshou Xiangbanyongyuan Pension Insurance

4.

Guoshou Xingfuzhijia Endowment Insurance

5.

Guoshou Xinfuxiangban Term Life Insurance

6.

Guoshou Antai Group Term Life Insurance (2004)

7.

Guoshou Group Term Life Insurance for Police (2004)

8.

Guoshou Hongfeng Endowment Insurance ( Dividend)

9.

Guoshou Hongxi Annuities Insurance ( Dividend)

10.

Guoshou Yuxin Endowment Insurance ( Dividend)

11.

Guoshou Kangyou Medical Insurance for hospitalization (A)

12.

Guoshou Kangyou Medical Insurance for hospitalization (B)

13.

Guoshou Group Supplementary Medical Insurance (A)

14.

Guoshou Group Supplementary Medical Insurance (B)

15.

Guoshou Group Dread Disease Insurance (2004)

16.

Guoshou Kangheng Dread Disease Insurance

17.

Guoshou Extraneous kangxin Dread Disease Insurance

18.

Guoshou Extraneous kangxin Dread Disease Insurance for Children

IV.

Beijing Branch of American International Assurance Company, Limited (AIA)

1.

AIA Disease Insurance against Cancer

2.

AIA Extraneous Ankangbao Dread Disease Insurance

3.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 18 Years Old

4.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 19 Years Old

5.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance for 20 Years Old

6.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 21Years Old

7.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 22 Years Old

8.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 23 Years Old

9.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 24 Years Old

10.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 25 Years Old

11.

AIA Extraneous Shijiyingcai Reserve Endowment Insurance till 30 Years Old

12.

AIA Endowment Life Enhanced Dread Disease Insurance till 60 Years Old

13.

AIA Extraneous Endowment Life Enhanced Dread Disease Insurance for 65 Years Old

14.

AIA Endowment Life Enhanced Dread Disease Insurance

15.

AIA Duolibao Whole Life Insurance (Universal)

16.

AIA Extraneous Zhizunbao Basic Premium Exemption Term Life Insurance for Children

17.

AIA Jubaopen Endowment Insurance (Dividend)

18.

AIA Extraneous Premium Exemption Term Life Insurance till 18 Years Old

19.

AIA Extraneous Premium Exemption Term Life Insurance till 19 Years Old

20.

AIA Extraneous Premium Exemption Term Life Insurance till 20 Years Old

21.

AIA Extraneous Premium Exemption Term Life Insurance till 21 Years Old

22.

AIA Extraneous Premium Exemption Term Life Insurance till 22 Years Old

23.

AIA Extraneous Premium Exemption Term Life Insurance till 23 Years Old

24.

AIA Extraneous Premium Exemption Term Life Insurance till 24 Years Old

25.

AIA Extraneous Premium Exemption Term Life Insurance till 25 Years Old

26.

AIA Extraneous Premium Exemption Term Life Insurance till 30 Years Old

27.

AIA Fangyubao Disease Insurance

28.

AIA Extraneous Disease Insurance against Cancer

29.

AIA Shijiyingcai Endowment Insurance

30.

AIA Five Year Licaibao Insured Renewal Endowment Insurance

31.

AIA Yangyibao Endowment Insurance till 60 Years Old

32.

AIA Yangyibao Endowment Insurance till 60 Years Old

V.

Guangzhou Branch of American International Assurance Company, Limited

1.

AIA Jubaopeng Endowment Insurance (Dividend)

2.

AIA Extraneous Premium Exemption Term Life Insurance till 18 Years Old

3.

AIA Extraneous Premium Exemption Term Life Insurance till 19 Years Old

4.

AIA Extraneous Premium Exemption Term Life Insurance till 20Years Old

5.

AIA Extraneous Premium Exemption Term Life Insurance till 21 Years Old

6.

AIA Extraneous Premium Exemption Term Life Insurance till 22 Years Old

7.

AIA Extraneous Premium Exemption Term Life Insurance till 23 Years Old

8.

AIA Extraneous Premium Exemption Term Life Insurance till 24 Years Old

9.

AIA Extraneous Premium Exemption Term Life Insurance till 25Years Old

10.

AIA Extraneous Premium Exemption Term Life Insurance till 30 Years Old

11.

AIA Jinyaoshi Mortgage Loan Term Life Insurance

12.

AIA Extraneous Premium Exemption Term Life Insurance for Children

13.

AIA * Term Life Insurance Additional Contract (*including 10-year-term, 15-year-term, 20-year-term, expiration of 22 years old for
children, expiration of 55 years old for children, expiration of 60 years old for children,)

14.

AIA Anxinbao Whole Life Insurance

15.

AIA Extraneous Zhizunbao Basic Premium Exemption Term Life Insurance for Children

16.

AIA Premium Exemption Additional Contract (affixed to AIA Jinruibaozheng Pension Insurance)

17.

AIA Extraneous Premium Exemption Term Life Insurance (affixed to 20PM)

18.

AIA Ankangbao Endowment Insurance

19.

AIA Extraneous Ankangbao Dread Disease Insurance

VI.

CIC

Group Plan Immune Health Insurance for Children



 
The Ministry of Finance, the State Administration of Taxation
2005-02-02

 






MEASURES FOR THE ADMINISTRATION OF FOREIGN-CAPITAL LEASE INDUSTRY

the Ministry of Commerce

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

No. 5

The Measures for the Administration of Foreign-capital Lease Industry were deliberated and adopted at the 1st executive meeting of
the Ministry of Commerce on January 21, 2005. They shall go into effect as of March 5, 2005.

Minister of the Ministry of Commerce Bo Xilai

February 3, 2005

Measures for the Administration of Foreign-capital Lease Industry

Article 1

For the purpose of promoting the sound development of foreign-capital lease industry, regulating the business operations of foreign-capital
lease industry and preventing operating risks, these Measures are formulated in accordance with the Contract Law of the People’s
Republic of China, the Company Law of the People’s Republic of China, the Law of the People’s Republic of China on Foreign-capital
Enterprises, the Law of the People’s Republic of China on Chinese-foreign Equity Joint Ventures, the Law of the People’s Republic
of China on Chinese-foreign Contractual Joint Ventures and other relevant laws and regulations

Article 2

These Measures shall apply to the foreign-capital companies, enterprises and other economic organizations (hereinafter referred to
as the foreign investors) that establish foreign-capital enterprises within the territory of China in the forms of Chinese-foreign
equity joint venture, Chinese-foreign contractual joint venture and solely foreign-capital enterprise to conduct leasing business
or financial leasing business.

Article 3

The foreign-capital lease industry may take the form of a limited liability company or a joint-stock limited company.

A foreign-capital enterprise undertaking leasing business is a foreign-capital leasing company. A foreign-capital enterprise undertaking
financial leasing business is a foreign-capital financial leasing company.

Article 4

All foreign-capital leasing companies and foreign-capital financial leasing companies shall abide by the relevant laws, regulations
and rules of the People’s Republic of China. Their proper business activities and legitimate rights and interests shall be protected
by the Chinese law.

The Ministry of Commerce (hereinafter referred to as the MOFCOM) is the administrative department in charge of the foreign-capital
lease industry and also the administrative department responsible for the examination and approval thereof.

Article 5

The leasing business as mentioned in the present Measures refers to the business that the lessor offers a lessee the use and proceeds
of a leased property in exchange for rent.

The financial leasing business as mentioned in the present Measures refers to the business that the lessor purchases a leased property
from a seller in light of a lessee’s selection of the seller or the leased property, then offers the lessee the use thereof in exchange
for rent.

The foreign-capital financial leasing company may undertake its financial leasing business by adopting the various forms of direct
lease, sublease, leaseback, leveraged lease, trust lease and joint lease.

Article 6

The leased property as mentioned in the present Measures includes:

(1)

various movable properties such as production equipment, communication facility, medical device, scientific research equipment, inspection
and testing apparatus, engineering machinery and office equipment;

(2)

various transport facilities such as planes, automobiles and vessels;

(3)

intangible assets accompanying the movable properties and transport tools as mentioned in Items (1) and (2) of this article such as
software and technologies, but the value of such intangible assets may not exceed 1/2 of that of a leased property.

Article 7

The total foreign-invested assets of a foreign-capital leasing company or foreign-capital financial leasing company may not be less
than US $ 5 million.

Article 8

A foreign-capital leasing company shall meet the following conditions:

(1)

Its registered capital meets the relevant requirements of the Company Law;

(2)

It meets the relevant requirements for the registered capital and total investment of a foreign-capital enterprise; and

(3)

The operating period for a foreign-capital leasing company in the form of limited liability company shall not exceed 30 years in general.

Article 9

A foreign-capital financial leasing company shall meet the following conditions:

(1)

It has a registered capital not less than US$ 10 million;

(2)

The operating period for a foreign-capital leasing company in the form of limited liability company shall not exceed 30 years in general;
and

(3)

It has the corresponding professionals. Its senior managerial personnel shall have the corresponding professional qualifications and
at least 3 years of experience of practice.

Article 10

The following materials shall be submitted to the examination and approval department for the establishment of a foreign-capital leasing
company or foreign-capital financial leasing company:

(1)

A written application;

(2)

A report of feasibility study affixed with the signatures of all investors;

(3)

The contract and articles of association (a foreign enterprise is only required to submit the articles of association);

(4)

The credit standing certification issued by a bank, registration certification (photocopy) and identity certification (photocopy)
of the legal representative of each investor;

(5)

Each investor’s audit report of the previous year upon audit of an accounting firm;

(6)

The name list of the members of the board of directors and the appointment document issued by each investor;

(7)

The qualification certifications of the senior managerial personnel; and

(8)

The notice of prior approval of enterprise name issued by the administrative department for industry and commerce.

In addition to the materials stated above, the applicant that applies for establishing a joint-stock limited company shall submit
the other materials as prescribed in the relevant provisions.

Article 11

The establishment of a foreign-capital leasing company or foreign-capital financial leasing company shall comply with the following
procedures:

(1)

For establishing a foreign-capital leasing company in the form of limited liability company, the investors shall submit a complete
set of materials as prescribed in Article 10 of the present Measures to the provincial commerce administrative department of the
place where the to-be-established enterprise is located. This provincial administrative department of commerce shall, within 45 working
days from receipt of the complete set of application materials, make a decision of approval or disapproval. If it approves the establishment,
it shall issue a Foreign-capital Enterprise Approval Certificate. If it disapproves the establishment, it shall give an explanation
therefore in written form. It shall file the approval documents with the MOFCOM for archival purposes within 7 working days after
it approves the establishment of a foreign-capital leasing company. The establishment of a foreign-capital leasing company in the
form of joint-stock limited company shall comply with the relevant provisions.

(2)

For establishing a foreign-capital financial leasing company, the investors shall submit a complete set of materials as prescribed
in Article 10 of the present Measures to the provincial administrative department of commerce where the to-be-established enterprise
is located. After conducting preliminary examination over the application documents, this provincial administrative department of
commerce shall submit them and the preliminary examination opinions to the MOFCOM within 15 working days from receipt of the complete
set of application documents. The MOFCOM shall make a decision of approval or disapproval within 45 working days from receipt of
the complete set of application documents. If it approves the establishment, it shall issue a Foreign-capital Enterprise Approval
Certificate. If it disapproves the establishment, it shall give an explanation therefore in written form.

(3)

Where an established foreign-capital company applies for undertaking the leasing business, it shall meet the requirements as specified
in the present Measures and shall, in accordance with the procedure as prescribed in Item (1) of this article, modify the relevant
business scope.

Article 12

A foreign-capital leasing company or foreign-capital financial leasing company shall go through the registration formalities with
the administrative department for industry and commerce within 30 workings after receiving the Foreign-capital Enterprise Approval
Certificate.

Article 13

A foreign-capital leasing company may undertake the following businesses:

(1)

The leasing business;

(2)

The purchase of leased property from home and abroad;

(3)

The disposal of scrap value of and maintenance of leased property; and

(4)

Other businesses approved by the examination and approval department.

Article 14

A foreign-capital financial leasing company may undertake the following businesses:

(1)

The financial leasing business;

(2)

The leasing business;

(3)

The purchase of leased property from home and abroad;

(4)

The disposal of scrap value of and maintenance of leased property;

(5)

The consultancy and guaranty business relating to lease transaction;

(6)

Other businesses approved by the examination and approval department.

Article 15

If the leased property, which is to be imported by a foreign-capital financial leasing company in light of the choice of a lessee,
is governed by special policies on quota, license, etc., the lessee or financial leasing company shall go through application formalities
in accordance with the relevant provisions.

When importing the leased property, a foreign-capital leasing company shall comply with the currently effective provisions regarding
the import of equipment by foreign-capital enterprises.

Article 16

For the purposes of preventing risks and guaranteeing the business operation security, generally, the risk assets of a financial leasing
company shall not exceed 10 times of the total amount of its net assets. The risk assets shall be determined on the basis of residual
assets, namely, the result after deducting the cash, bank deposits, national debts and entrusted leased assets from the total assets.

Article 17

A foreign-capital financial leasing company shall, not later than March 31 of each year, submit to the MOFCOM the business operation
report of the previous year and the financial statement of the previous year upon audit by an accounting firm.

Article 18

The Lease Industry Commission of the China Foreign-capital Enterprises Association is a guild organization performing self-discipline
management of the foreign-capital lease industry. The foreign-capital leasing companies and foreign-capital financial leasing companies
are encouraged to join it.

Article 19

Where a foreign-capital leasing company or foreign-capital financial leasing company violates any law, regulation or rule of China,
it shall be punished according to the relevant provisions.

Article 20

The establishment of a foreign-capital leasing company or foreign-capital financial leasing company in the Mainland by a company,
enterprise or any other economic organization from the Hong Kong Special Administrative Region, Macao Special Administrative Region
or Taiwan Region shall be implemented with reference to the present Measures.

Article 21

The provincial administrative department of commerce as mentioned in the present Measures refers to the administrative department
of commerce of each province, autonomous region, municipality directly under the Central Government, city directly under state planning
or of the Xinjiang Production and Construction Group.

Article 22

The power to interpret the present Measures shall be vested in the MOFCOM.

Article 23

The present Measures shall go into effect as of March 5, 2005. The Interim Measures for the Administration of Examination, Approval
of Foreign-capital Leasing Companies issued by former Ministry of Foreign Trade and Economic Cooperation through Order No. 3 in the
year of 2001 shall be abolished simultaneously.



 
the Ministry of Commerce
2005-02-03

 






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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