MEASURES FOR THE ADMINISTRATION OF ADMINISTRATIVE LAW ENFORCEMENT IN CULTURAL MARKET

Ministry of Culture

Decree of the Ministry of Culture

No.36

The Measures for the Administration of Administrative Law Enforcement in Cultural Market adopted through deliberation at the executive
meeting of the Ministry of Culture on June 16, 2005, are hereby promulgated, and shall enter into effect as of the day of July 1,
2006.

Ministry of Culture

March 24, 2006

Measures for the Administration of Administrative Law Enforcement in Cultural Market

Chapter I General Provisions

Article 1

In order to regulate acts of administrative law enforcement in cultural market, strengthen administration on cultural market, maintain
the order of cultural market administration, and protect the lawful rights and interests of citizens, legal persons, and other organizations,
as well as promote the healthy development of cultural market, these Measures are formulated according to the relevant state laws
and regulations .

Article 2

The administrative law enforcement in cultural market as mentioned in these Measures shall refer to the administrative departments
of culture of the people’s governments at all levels or other law enforcement organizations authorized by the laws or regulations
(hereinafter referred to as the law enforcement organizations), the operational activities of culture of citizens, legal persons,
or other organizations shall be supervised and inspected, and their illegal acts shall be punished according to the provisions of
relevant state laws, regulations, and rules.

Article 3

The range of administrative law enforcement in cultural market mentioned in these Measures shall include:

Business performance activities;

Importation, wholesale, retail, lease, and projection of audio-video products;

Operational activities in places of entertainment;

Operational activities of artwork;

Operational activities of issuance and projection of films;

Operational activities of culture of the business places for internet access services and internet; and

Other operational activities of culture under the control of the administration of the administrative departments of culture.

Article 4

The principle of fairness, justness, and openness shall be followed for the administrative law enforcement in cultural market, and
an administrative law enforcement system of well defined power and responsibility, standardized behaviors, effective supervision,
and strong safeguards shall be established.

Article 5

According to the division of work of responsibility, the Ministry of Culture shall guide the work of law enforcement in cultural market
countrywide, formulate bylaw on administrative law enforcement and the plan for training of administrative law enforcement personnel
in cultural market, and guide and harmonize the local law enforcement organizations to investigate the major and serious cases,
and supervise the administrative law enforcement of the local law enforcement organizations.

The local law enforcement organizations in or above the county level shall take charge of the work of administrative law enforcement
in cultural market within their own administrative regions according to their divisions of work of responsibility.

Article 6

According to the provisions of state laws and regulations and the procedures determined by these Measures, the law enforcement organizations
and the administrative law enforcement personnel in cultural market (hereinafter referred to as the law enforcers) shall enforce
laws and accept the law enforcement supervision of the relevant departments.

Article 7

The law enforcement organizations and the law enforcers that have remarkable performances in their work shall be given honors and
encouragements by the administrative departments of culture.

Chapter II Law Enforcement Organizations and Law Enforcers

Article 8

The construction of law enforcement contingent shall be strengthened, the various regulations shall be improved, and law enforcement
mechanisms shall be perfected by the administrative departments of culture.

Article 9

The functions of a law enforcement organization shall be:

Publicizing and carrying out the policies and laws and regulations on the management of cultural market;

In light of the law, within their own administrative regions, making supervision and inspection on operational activities of culture
of citizens, legal persons, and other organizations, and punishing their illegal acts;

Organizing the training and examination of law enforcers;

Supervising and guiding the work of the law enforcement organizations of the lower level; and

Bringing forward advices to the legislatures and the administrative organizations on improving the relevant laws, regulations, and
rules about cultural market management.

Article 10

The law enforcement organizations shall perfect the tip off system about cultural market, publicize the tip off telephone and e-mails,
and improve tip off networks, accept and deal with the tip offs in time according to the law.

Article 11

The routine inspection and regular inspection system of cultural market shall be established and improved by the law enforcement organizations.

Article 12

The system of archival filing and the system of sending a copy of major punishment decisions shall be used to administrative law enforcement
in cultural market.

If the law enforcement organization makes the decision of administrative punishments which is ordering to stop business operations
for rectification, suspending license or giving a larger amount of fines, and so on, it shall report to the admission organization
and the law enforcement organization of the upper level for archival filing within 15 days from the day of making the decision on
administrative punishment.

If the law enforcement organization makes the decision of administrative punishments , which is ordering to stop business operations
for rectification, or suspending licenses, it shall send a copy of the punishment decision to the departments of public security
and industry and commerce, and other relevant departments in time.

Article 13

The system of reporting major cases shall be carried out for administrative law enforcement in cultural market.

The local law enforcement organization shall report the information of the case to the law enforcement organization of the upper level
within 24 hours if a major case occurs.

Article 14

The system of regular report on law enforcement data shall be carried out in the administrative law enforcement in cultural market.

Article 15

The law enforcement organizations shall be equipped with establishments and equipments like vehicles, communications, testing, and
evidence obtaining, which are necessary for administrative law enforcement.

Article 16

When enrolling law enforcers, the law enforcement organizations shall make recruitment and examination openly and enroll the best
by selection in light of the state provisions.

Article 17

The law enforcers shall meet the requirements as follows:

Having firm political standpoint and a fine style of work, submitting disciplines, and being physically healthy;

Before undertaking the work of administrative law enforcement in cultural market, having no criminal records; and

Knowing well the laws, regulations, and rules on the administration of cultural market, and mastering the professional knowledge and
skill, which are necessary for the administration of cultural market.

Article 18

After having passed on-the-job training and the examination, the law enforcers shall obtain the certificate of administrative law
enforcement in cultural market . The contents of training to law enforcers and the examination standard shall be determined uniformly
by the Ministry of Culture, and shall be organized and carried out by the administrative departments of culture at the provincial
level.

Article 19

The law enforcement organizations shall examine professional competence of law enforcers each year, and after the assessment the law
enforcers who are not qualified shall not continue to take charge of administrative law enforcement work.

Article 20

The law enforcers shall take part in the training of professional knowledge and skill in cultural market no less than 40 hours each
year. The law enforcers shall be encouraged and supported by the law enforcement organizations to take part in the various in-service
further study activities.

Article 21

The system of regular post-shift on law enforcers shall be carried out, and in general, a law enforcer shall not take one job position
for more than five years.

Chapter III Law Enforcement Procedures

Article 22

The illegal administrative cases in cultural market shall be under the control of the law enforcement organizations at or above the
level of the counties at the places where the illegal acts occur. Unless there are different provisions by the law or administrative
regulation, such provisions shall be followed.

If law enforcement organization discovers that the case under investigating is not under its jurisdiction, it shall be transferred
to the administrative department of culture that has jurisdiction or other administrative organizations in time. If the illegal act
has constituted a crime, it shall be transferred to the judicial department subject to criminal liabilities according to the law.

Article 23

Administrative law enforcement activities shall be implemented strictly according to the procedures prescribed in laws, regulations
and these Measures, and law enforcement documents shall be made in the light of the law.

Article 24

When executing public affairs, the law enforcers shall show the law enforcement certificates to the parties or the relevant personnel
according to law.

Article 25

As any act of any citizen, legal person, or other organization breaks the regulations on the management of cultural market, which
shall be given administrative punishment in the light of the law, the law enforcement organizations shall make the facts clearly;
if the illegal facts are not clear, the administrative punishment shall not be given by the law enforcement organizations.

Article 26

Before making an administrative punishment, the parties shall be notified the facts, the reasons and the basis of the administrative
punishment decision and the rights they shall enjoy thereof.

Article 27

The parties shall have the right to make statements and averments. The opinions of the parties shall be sufficiently heard and written
records shall be made by the law enforcers, and review the facts, reasons, and evidence brought forward by the parties, and if they
can be proved, adopt them after review.

Article 28

If the illegal facts are authentic and have legal basis, a decision may be made on the spot on giving an administrative punishment
of a fine of less than 50 Yuan to a citizen or a fine of less than 1,000 Yuan to legal person or other organization or a warning,
and the law enforcers shall fill in the decision on administrative punishment with the predetermined format and compiled with numbers,
and deliver it to the parties on the spot.

The decisions shall be reported to the subordinate law enforcement organizations and put them on archives within 3 days from the day
when they have made on-site punishment decisions.

Article 29

If the law enforcement organization discovers that any citizen, legal person, or other organization has any act that shall be given
administrative punishment except the administrative punishment that may be made on spot in the light of the law, it shall make registration
on it and put it on records, and make investigation in time, overall, objective, and fair manner, and collect the relevant evidence,
and may make inspection according to the relevant provisions of the laws or regulations if it is necessary.

The evidence shall be included documentary evidence, material evidence, testimony of witnesses, audio-video materials, statements
of the parties, expert conclusions, records of inquests and records made on the scene, or other relevant evidence. After it has been
ascertained to be truthful, the evidence can be taken as the basis for determining facts.

Article 30

When making investigation or inspection, there shall be no less than two enforcers. The parties and the relevant personnel shall answer
the inquiries in the light of the facts, and assist in the investigation or inspection, and shall not obstruct it. The law enforcers
shall make written records on the inquiry or the inspection, and hand them to the parties or the relevant personnel for checking,
the parties or the relevant personnel shall sign their names or seals if there is no fault after checking. The two or more law enforcers
shall indicate the conditions in the written records and sign their names if the parties or the relevant personnel refuse to sign
their names or seals.

Article 31

When collecting evidence, the law enforcers may use the method of sampling to obtain evidence; if the evidence may be lost or difficult
to obtain afterwards, after the approval of the person who takes charge of the law enforcement organization, such measures as preservation
through prior registration may be taken .

The parties shall be at present when obtaining evidence by sampling or preserving it through registration,; if the parties are not
at present or refuse to be at present, other personnel on the scene may be asked to give witness and indicated it.

A list of the evidence obtained by sampling or articles preserved through registration shall be made, and in the light of the circumstances,
credence of obtaining evidence through sampling or list of preservation through registration shall be made, and the name, quantity,
and unit price of the articles, and other matters concerned shall be indicated. The law enforcers and the parties shall sign their
names or seals on it, and the law enforcers shall hand it to the parties. If the parties refuse to sign their names seal, or accept
it, the two or more law enforcers shall indicate the conditions on the credence or the list and sign their names.

When preserving articles through registration, they may be preserved at a different place if it may disturb public order or public
security to preserve them at the original place.

Article 32

The handling decisions shall be made as follows within 7 days on the evidence preserved through prior registration:

If it is necessity to make technical inspection or authentication, it shall be submitted for inspection or authentication;

If the articles need not to be confiscated according to the law, they shall be returned to the parties;

If the articles shall be devolved on the relevant departments for disposal, they shall be devolved on the relevant departments; and

If there are different provisions in other law or regulation, such provisions shall be followed.

Article 33

After the conclusion of an investigation, the person in charge of a law enforcement organization shall examine the investigation results,
and in the light of the circumstances, make a decision of giving administrative punishment, not giving administrative punishment,
or transferring to the judicial department for disposal .

Before making an administrative punishment decision, a law enforcement organization shall make a notice on the administrative punishment
and serve it on the parties, informing them of the contents, facts, the reasons and the basis of the administrative punishment to
be made thereof. If administrative punishment decisions such as ordering to stop business operations for rectification, suspending
license, or giving a large amount of fine, and etc. will be made, it shall indicate in the notice on the administrative punishment
that the parties shall have the right to request holding a hearing within 3 days after receiving the notice; if the parties request
a hearing, the hearing shall be organized by the law enforcement organization which will make the administrative punishment decision.

Article 34

A hearing shall be carried out in light of the procedures as follows:

The chairperson announces the beginning of the hearing, the reason of the case and the hearing disciplines, rights and obligations
of the parties, and announces and checks the name list of the participants in the hearing;

The illegal facts of the parties, the evidence, basis for punishment, and the reasons for the administrative punishment shall be brought
forward by the investigators;

The parties may put forward evidence, make statements and averments, and make cross-examinations on the evidence brought forward by
the investigators;

The chairperson inquires to the parties, investigators, witnesses, and the relevant personnel;

The parties make final statements; and

The chairperson announces the end of the hearing.

Article 35

Written records about the hearing shall be made , and be handed to the parties for checking, if there is no fault therein, the parties
shall sign their names or seals.

The chairperson shall make a written report in the light of the hearing, and submit it to the law enforcement organizations along
with the written records.

The following contents shall be included in the report: reason of the case, time and place for the hearing, name or post_title of the participants
in the hearing, matters of averment and cross-examination, authentication on the evidence, and cognizance of facts.

Article 36

After it is announced, the letter of decision on administrative punishment shall be handed to the parties on the spot. The parties
shall indicate the date of acceptance in the proof of service, sign their names or seals.

If the parties are not present, according to the relevant provisions of the Civil Procedure Law, the law enforcement organization
shall serve the letter of decision on administrative punishment on the party within 7 days.

Article 37

The confiscated properties in the light of the law shall be auctioned openly or dealt with in light of the relevant provisions of
the state.

Goods that shall be destroyed in the light of the law shall be destroyed under the supervision of two or more law enforcers after
the approval of the person in charge of the law enforcement organization, and a destruction record shall be made thereof.

Article 38

The law enforcement documents and the relevant materials shall be compiled and bound, and be put on archives according to the provisions
of relevant laws and regulations.

Chapter IV Supervision over Law Enforcement and Prosecution of Liabilities

Article 39

The law enforcement acts of the law enforcement organizations at the lower level and the law enforcers shall be supervised by the
law enforcement organizations at the upper level thereof.

Article 40

The following contents shall be included in the law enforcement supervision:

Subjects of law enforcement;

Procedures for law enforcement;

Application of laws, regulations, and rules;

The situations of performance of legal obligations;

Internal management system of law enforcement organizations;

Disposal of the confiscated properties and goods; and

ANNOUNCEMENT NO. 23, 2006 OF MINISTRY OF COMMERCE, ON REDUCING THE TARIFF ON MIXED EDIBLE GREASE OR PRODUCTS

Ministry of Commerce

Announcement No. 23, 2006 of Ministry of Commerce, on Reducing the Tariff on Mixed Edible Grease or Products

[2006] No. 23

In accordance with Framework Agreement on Comprehensive Economic Co-operation between the People’s Republic of China and the Association
of Southeast Asian Nations, as from January 1, 2004, China and ASEAN member states started to implement the Early Harvest Programme,
including reducing the tariffs on Mixed Edible Grease or Products (under Tariff No. 15179000). In order to maintain the normal import
order, matters of concern are listed as follows:

While importing grease originated from ASEAN member states, with palm oil, bean oil and rape seed oil as the raw materials and with
no form or usage changed after processing or mixing, if the oil content rate (one or more than one kind in the above-mentioned three,
by weight) is higher than 50%, the import shall be in line with the tariff regulations on one of the three above-mentioned oils,
which has a dominant amount in the mix, namely tax items 1507, 1511 or 1514, in the Framework Agreement on Comprehensive Economic
Co-operation between the People’s Republic of China and the Association of Southeast Asian Nations.

While importing the grease with palm oil, bean oil or rape seed oil mixed in under the preferential tariff rate of the Framework Agreement
on Comprehensive Economic Co-operation between the People’s Republic of China and the Association of Southeast Asian Nations, the
importers shall submit the mix kinds, proportion and usage according to the facts, also the certificate of place of origin with above-mentioned
information issued by the exporting countries shall be submitted.

As from the date of the promulgation of this announcement, Announcement No. 35, 2004 of Ministry of Commerce shall be abolished.

Ministry of Commerce

April 20, 2006

Ministry of Commerce
2006-04-20

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF THE IMPORT AND EXPORT OF ENDANGERED WILD ANIMALS AND PLANTS

Order of the State Council of the People’s Republic of China

No. 465

The Regulations of the People’s Republic of China on the Administration of the Import and Export of Endangered Wild Animals and Plants,
which were adopted at the 131st executive meeting of the State Council on April 12, 2006, is hereby promulgated and shall enter into
effect as of September 1, 2006.
Wen Jiabao, Premier of the State Council,

April 29, 2006

Regulations of the People’s Republic of China on the Administration of the Import and Export of Endangered Wild Animals and Plants

Article 1

The present Regulations is formulated for the purpose of intensifying administration on the import and export of endangered wild
animals and plants as well as the products thereof, protecting and reasonably utilizing the resources of wild animals and plants
and performing the Convention on the International Trade of Endangered Species of Wild Animals and Plants (hereinafter referred to
as the Convention).

Article 2

The import or export of the endangered animals and plants as well as the products which are restricted by Convention, shall be subject
to the present Regulations.

As to the export of the endangered animals and plants as well as the products thereof under the special protection of sour country
exporting , the relevant provisions of the present Regulations on the export of endangered animals and plants as well as the products
thereof shall be applied.

Article 3

The competent departments of forestry and agriculture (fishery) of the State Council (hereinafter referred to as the competent departments
of endangered animals and plants under the State Council) shall, in light of their duties and work division, take charge of the administration
of the import and export of endangered animals and plants as well as the products thereof throughout the country and well do the
relevant work related to the performance of the Convention.

Other relevant departments of the State Council shall, according to the provisions of relevant laws and administrative regulations,
well do the relevant work within their respective functions and duties.

Article 4

The state administrative organs in charge of the import and export of endangered species shall perform the Convention on behalf of
the Chinese Government, and shall, according to the provisions of the present Regulations, issue upon verification Import/Export
Permission Certificates for the wild animals and plants as well as the products thereof under the special protection of the state,
whose export has been approved by the competent departments of endangered animals and plants under the State Council, as well as
the endangered wild animals and plants and the products thereof, whose import or export has been restricted by the Convention yet
approved by the competent departments of endangered animals and plants under the State Council.

Article 5

The state scientific institutions for the import and export of endangered species shall, according to the present Regulations, organize
the relevant experts in terrestrial wild animals, aquatic wild animals and wild plants to engage in the science consultation on the
import and export of endangered wild animals and plants as well as the products thereof.

Article 6

It is prohibited to import or export any endangered wild animals and plants as well as the product thereof, whose import or export
is prohibited by the Convention for any purpose of commercial trade. Where any import or export is required for such special reasons
as scientific research, domestication and propagation, artificial cultivation and cultural exchange, it shall be subject to the approval
of the competent departments of endangered animals and plants under the State Council. In the case of any matter subject to the approval
of the State Council according to relevant provisions, it shall be reported to the State Council for approval.

It is prohibited to export any wild animals and plants and products there of with a great values, whose name is yet to be decided
or which is newly found , and any wild animal and plant and the product thereof whose export has been prohibited by the State Council
or the competent departments of endangered animals and plants under the State Council.

Article 7

The import or export of endangered animals and plants as well as the products thereof, which are restricted by the Convention to
be imported and exported, and the export of wild animals and plants as well as the products thereof that have been restricted by
the State Council or the competent departments of endangered animals and plants under the State Council, shall be subject to approval
of the competent departments of endangered wild animals and plants under the State Council.

Article 8

The import of endangered wild animals and plants as well as the products thereof shall meet the requirements as follows:

(1)

The utilization of endangered wild animals and plants as well as the products thereof meets the relevant provisions of the State;

(2)

Having effective control measures and meeting the requirements for ecological security;

(3)

The materials as provided by the relevant applicant are authentic and effective; and

(4)

Meeting any other requirement as publicized by the competent departments of endangered animals and plants under the State Council.

Article 9

The export of endangered wild animals and plants as well as the products thereof shall meet the requirements as follows:

(1)

Meeting the requirements for ecological security as well as public benefits;

(2)

The origins are legal;

(3)

The materials as provided by the relevant applicant are authentic and effective;

(4)

Not falling within the prohibited categories of export as prescribed by the State Council or the competent departments of endangered
animals and plants under the State Council; and

(5)

Meeting any other requirement as publicized by the competent departments of endangered animals and plants under the State Council.

Article 10

When importing or exporting any endangered wild animals and plants as well as the product thereof, an applicant shall file an application
with the competent departments of wild animals and plants of the province, autonomous region or municipality directly under the Central
Government where he is located, and submit the following materials as well:

(1)

The Import/Export Contract;

(2)

The names, varieties, quantities and purposes of use of endangered wild animals and plants as well as the products thereof;

(3)

Instruction of materials on the facilities for loading and transporting live endangered wild animals and plants as well as the products
thereof; and

(4)

Other materials that shall be submitted, as are publicized by the competent departments of endangered animals and plants under the
State Council.

The relevant competent departments of wild animals and plants of the province, autonomous region or municipality directly under the
Central Government shall, within 10 workdays as of receiving the applications, subscribe the materials with there opinions and transfer
all the application materials to the competent departments of endangered animals and plants under the State Council.

Article 11

The competent departments of endangered animals and plants under the State Council shall make a decision on approval or disapproval
and notify the relevant applicant in written form, within 20 workdays as of receiving the application. If the competent departments
fail to make a decision within 20 workdays, the term may, upon the approval of the principal thereof, be extended for 10 workdays,
and the extended term and relevant explanations thereon shall be noticed to the relevant applicant.

Article 12

Where an applicant has obtained the relevant approval documents for the import or export from the competent departments of endangered
animals and plants under the State Council, he shall, within the effective time limit as prescribed in the approval documents, apply
to the state competent organs in charge of the import and export of endangered wild animals and plants for verifying and issuing
an Import/Export Permission Certificate.

The following materials shall be submitted when applying for verifying and issuing an Import/Export Permission Certificate:

(1)

An Application Form for the Import/Export Permission Certificate;

(2)

The Approval Documents for Import or Export; and

(3)

The Import / Export Contract.

In the case of import of any endangered wild animals and plants or any of product thereof, whose import or export is restricted by
the Convention, an applicant shall additionally submit the relevant certification materials on export permission as verified and
issued by the competent departments of endangered wild animals and plants of the export country (region). In the case of export of
any endangered wild animals and plants or any of product there of, whose import or export is restricted by the Convention for any
purpose of commercial trade, an applicant shall additionally submit the relevant certification materials on import permission as
verified and issued by the competent departments of endangered wild animals and plants of the import country (region). In the case
of any re-export of endangered wild animals and plants as well as the products thereof, which have been imported, an applicant shall
additionally submit the relevant declaration form of imported goods as subscribed by the customs as well as the import permission
certificates as signed by the customs.

Article 13

The administrative organ in charge of the import and export of endangered wild animals and plants shall, within 20 workdays as of
receiving the application, make a decision on examination. Where the application materials are complete and meet the provisions of
the present Regulations as well as the requirements of the Convention, an Import/Export Permission Certificates shall be issued upon
verification. In the case of disapproval for issuing an Import/Export Permission Certificates upon verification, the disapproval
shall be noticed to the applicant and the competent departments of endangered animals and plants under the State Council in written
form, and the relevant explanations shall be given. Where a decision cannot be made within 20 workdays, the term may, upon the approval
of the principal of the administrative organ in charge of the import and export of endangered wild animals and plants, be extended
for 10 workdays, and the extended term and the relevant explanations thereon shall be noticed to the relevant applicant.

In case the administrative organ in charge of the import and export of endangered wild animals and plants finds any application material
failing to meet the relevant requirements when carrying out an examination, it shall inform the applicant in a one-off manner of
all the contents that shall be supplemented and corrected.

Article 14

Where the state administrative organ in charge of the import and export of endangered wild animals and plants needs, during the process
of verifying and issuing an Import/Export Permission Certificates, to consult the opinions of the state scientific institution for
the import and export of endangered wild animals and plants or needs to confirm the relevant contents of the certification materials
on import/export permission with the relevant overseas institutions, it shall transfer the relevant materials to the state scientific
institution for the import and export of endangered wild animals and plants for consulting or to the relevant overseas institutions
for confirming the relevant contents within 5 workdays as of receiving the application. The time for consulting opinions and confirming
contents shall not be calculated into the workdays for the verification and issuance of the Import/Export Permission Certificates.

Article 15

The competent department of endangered animals and plants under the State Council, the competent departments of wild animals and
plants of provinces, autonomous regions and municipalities directly under the Central Government as well as the state administrative
organ in charge of the import and export of endangered wild animals and plants shall, when conducting the examination and approval
of endangered wild animals and plants as well as the products thereof, not charge any fee other than the fees as provided for by
the state.

Article 16

Where any import or export of endangered wild animals and plants or any of its products has led to or may lead to any serious injury
or negative impact on the resources of wild animals and plants or ecological security, the competent departments of endangered animals
and plants under the State Council shall bring forward the relevant measures for temporarily prohibiting or restricting the import/export
of endangered wild animals and plants as well as the products thereof, and carry them out after reporting them to the State Council
for approval.

Article 17

As to any endangered wild animals and plants or any of products thereof, which are obtained from a sea area not falling within the
jurisdiction of any country, and enters into the territory of China, they shall be subject to the relevant provisions of the present
Regulations.

Article 18

Where any import of endangered wild animals and plants as well as the products thereof relates to the administration of foreign species,
or any export thereof relates to the management of seed resources, it shall be subject to the relevant provisions of the state.

Article 19

The import or export of endangered wild animals and plants as well as the products thereof shall be carried out at the ports, which
are appointed by the competent department of endangered animals and plants under the State Council in coordination with the General
Administration of Customs and the State Administration of Quality Supervision, Inspection and Quarantine, and are approved by the
State Council.

Article 20

The import or export of endangered wild animals and plants as well as the products thereof shall be conducted in light of the varieties,
quantity, port and time limit as prescribed on the Import/Export Permission Certificate.

Article 21

As to any import or export of endangered wild animals and plants as well as the products thereof, the relevant importer or exporter
shall submit to the customs the Import/Export Permission Certificate, be subject to the customs supervision, and shall, within 30
days as of customs release, submit to the state administrative organ in charge of the import and export of endangered species a duplicate
copy of the Import/Export Permission Certificate that has been verified by the customs for archival filing.

Any departure from the territory, transfer or transshipment of endangered wild animals and plants as well as the products thereof
shall be subject to the customs supervision throughout the period from the time of arrival into the territory to the time of departure
from the territory.

Any endangered wild animals and plants or any of its products, which goes into or out of specific customs surveillance zones or bonded
places such as the bonded zones and export processing zones, shall be subject to the customs supervision and shall go through the
relevant formalities for import or export in light of the provisions of the General Administration of Customs as well as the state
administrative organ in charge of the import and export of endangered species.

Any import or export of endangered wild animals and plants as well as the products thereof shall be declared to the entry and exit
inspection and quarantine organ on the strength of the relevant Import/Export Permission Certificate and shall be subject to its
inspection and quarantine.

Article 22

The state administrative organ in charge of the import and export of endangered species shall in time report the relevant materials,
based on which an Import/Export Permission Certificate is verified and issued, as well as the annual import/export summary of endangered
wild animals and plants as well as the products thereof to the competent department of endangered animals and plants under the State
Council as well as other competent departments.

Article 23

The approval documents for import or export shall be printed and formulated uniformly under the organization of the competent department
of endangered animals and plants under the State Council. The Import/Export Permission Certificates and the Application Forms thereof
shall be printed and formulated uniformly under the organization of the state administrative organ in charge of the import and export
of endangered species.

Article 24

Where any functionary of the competent department of endangered wild animals and plants or the state administrative organ in charge
of the import and export of endangered species takes advantage of his duties and functions to collect any other’s property or enlists
any other interest, or approve the relevant import or export or verify and issue the Import/Export Permission Certificate not according
to the provisions of the present Regulations, in case the circumstance is serious and a crime is constituted, he shall be subject
to criminal liabilities according to law. Where a crime is not constituted, he shall be imposed upon a sanction according to law.

Article 25

Where any functionary of the state scientific institution for the import or export of endangered species takes advantage of his functions
and duties to collect any other’s property or enlists any other interest, or produces any false opinion, in case the circumstance
is serious and a crime is constituted, he shall be subject to the criminal liabilities according to law. If a crime is not constituted,
he shall be imposed upon a sanction according to law.

Article 26

Where any endangered wild animals and plants or any of its products is illegally imported or exported or smuggled in any other way,
the violator shall punished according to the relevant provisions of the Customs Law. In case the circumstance is serious and a crime
is constituted, he shall be subject to criminal liabilities according to law.

The articles as fined and confiscated shall be transferred to the competent departments of wild animals and plants for legal disposal.
If any fined and confiscated article shall be subject to quarantine according to law, it shall be disposed of after passing the quarantine.
If any fined and confiscated article shall be returned to its original export country (region), it shall be transferred by the competent
department of wild animals and plants to the state administrative organ in charge of the import and export of endangered species
for disposal according to the relevant provisions of the Convention.

Article 27

Where any approval document for import or export or any Import/Export Permission Certificate is forged, sold for profits or transferred,
the competent department of wild animals and plants or the competent department for industry and commerce shall punish the violators
in light of their functions and work division according to law. If the circumstance is serious and a crime is constituted, the violators
shall be subject to criminal liabilities according to law.

Article 28

The present Regulations shall enter into effect as of September 1, 2006.

The State Council
2006-04-29

TRANSACTION REGULATIONS OF SHANGHAI STOCK EXCHANGE

Circular of Shanghai Stock Exchange on Promulgating the Transaction Regulations of Shanghai Stock Exchange

All the member entities:

The Transaction Regulations of Shanghai Stock Exchange upon approval of China Securities Regulatory Commission (CSRC) is herby promulgated
and shall go into effect as of July 1, 2006, and the related detailed regulations for business operations shall be separately promulgated.

Shanghai Stock Exchange

May 15, 2006

Transaction Regulations of Shanghai Stock Exchange
Chapter I General Provisions

1.1

In order to regulate the transactions in the securities market, maintain the order of the securities market, and protect the lawful
rights and interests of investors, this Regulations is instituted in accordance with the Securities Law of the People’s Republic
of China and other laws, administrative regulations, ministerial regulations and the Articles of Association of Shanghai Stock Exchange.

1.2

The transactions in respect of the listed securities and their derivatives (hereinafter referred to as securities uniformly) of Shanghai
Stock Exchange (hereinafter referred to as this Exchange) shall be governed by these Regulations. Any matter that has not been prescribed
by these Regulations shall be governed by other related provisions of this Exchange.

1.3

The securities transactions shall follow the principles of openness, fairness and equity.

1.4

The securities transactions shall comply with the laws, administrative regulations, ministerial regulations and the related business
operational regulations of this Exchange, and the principles of free will, compensation and good faith.

1.5

The securities transactions shall employ the paperless centralized transactions and other methods upon the approval of CSRC.

Chapter II Trading Market

Section 1 Trading Places

2.1.1

This Exchange will offer trading places and facilities for the securities transactions, such as the exchange server, trading hall,
trading seats, offering system and related communications systems.

2.1.2

This Exchange sets up the trading hall. The members of this Exchange (hereinafter referred to as the member) may make declarations
by the traders assigned by them to the trading hall.

Except the special approval of this Exchange, those who allowed to enter into the trading hall shall be limited to the persons as
follows:

(1)

The registered traders; and

(2)

The personnel in the hall for supervision.

Section 2 Trading Participants and Trading Rights.

2.2.1

If a member or institution upon approval of this Exchange wants to enter into the market of this Exchange for the securities trading,
he/it shall hand in an application to this Exchange for getting a related seat or trading rights and becoming a trading participant
of this Exchange.

A trading participant shall do the securities trading through the Participant Business Unit opened upon application in this Exchange.

2.2.2

The “Participant Business Unit” refers to such a basic unit that a trading participant can take part in the securities trading of
this Exchange, enjoy and perform the related trading rights and accept the related business management of this Exchange.

2.2.3

The detailed Regulations for the management of Participant Business Unit and the limits of trading rights shall be respectively instituted
by this Exchange, and go into effect after being reported to and approved by the CSRC.

Section 3 Trading Varieties

2.3.1

The securities as follows may be listed in this Exchange:

(1)

Stocks;

(2)

Funds;

(3)

Bonds;

(4)

Treasury bonds repurchase (T-bond repurchase) ;

(5)

Warrants; and

(6)

Other trading varieties upon approval of the CSRC.

Section 4 Trading Hours

2.4.1

The trading days of this Exchange are from Monday to Friday every week.

On State legal holidays and the rest days announced by this Exchange this Exchange will rest.

2.4.2

Where the securities are traded by means of competitive bidding, 9:15 to 9:25 in every trading day shall be the time for the aggregate
auction of opening quotation; 9:30 to 11:30 and 13:00 to 15:00 shall be the time for continuous auction, except for the securities
to which the suspending trading and then the resumption of trading are implemented during the course of opening.

As approved by the CSRC and in accordance with the demands of the market development, the trading hours may be modulated by this Exchange.

2.4.3

In case the trading is suspended because of some reason within the trading hours, the trading hours will not be put off.

Chapter III Purchase and Sales of Securities

Section 1 General Provisions

3.1.1

Accepting the entrustment of purchase and sales from an investor, any member shall make declaration to this Exchange in accordance
with the entrustment, and be responsible for the related liabilities of trading and delivery.

If any member accepts the entrustment of purchase and sales from an investor and the transaction is completed, the investor shall
deliver the member with the securities it/he entrusts the member to sell out or the money by which it/he entrusts the member to buy
securities, as well as the member shall deliver the investor with the money gotten from the sales of securities or the securities
as purchased.

3.1.2

A member shall send out declaration orders of purchase or sales to the exchange server of this Exchange by the Participant Business
Unit it owns or other related sending means, and make conclusion of the transactions in accordance with this Regulations, and the
trading results and other trading records shall be sent to the member by this Exchange.

3.1.3

The entrustment and declaration records shall be properly kept by a member in accordance with the related provisions.

3.1.4

The securities purchased by any investor shall not be sold out before the delivery thereof, except that a turnaround transaction
is carried out.

The “securities turnaround transaction” refers to the securities which are purchased by an investor and will be totally or partly
sold out before the delivery upon the confirmation of the transaction.

3.1.5

Same-day turnaround transactions will be carried out for the bonds and warrants repurchase, and the next-trading-day turnaround transactions
will be carried out for B-shares.

3.1.6

This Exchange may carry out the system of primary dealers in accordance with the demands of the market, and the concrete measures
there for shall be respectively instituted by this Exchange and shall go into effect after being reported to and approved by the
CSRC.

Section 2 Designated Transactions

3.2.1

A system of all-around designated transactions shall be carried out for the securities trading in the market of this Exchange, except
for the foreign investors engaging in the B-share trading.

3.2.2

The “all-around designated transactions” means that an investor taking part in the securities sales in the market of this Exchange
shall designate a member ahead of time as its/his trustee of securities sales, and take part in purchasing or selling the securities
in the market of this Exchange through this member.

3.2.3

An agreement on designated transactions shall be reached between the member of designated transactions and an investor and in which
the rights, obligations and duties of both parties shall be made sure. Once the agreement on designated transactions is reached,
the member can hand in an application to the exchange server of this Exchange for dealing with the formalities for designated transactions
with the strength of the application of the investor.

3.2.4

This Exchange will accept the declaration orders for designated transactions during the period of opening, and these orders will
become valid immediately after being accepted by the exchange server.

3.2.5

If changing any designated transaction, an investor shall apply for cancellation to the designated member, and the member will make
declaration to cancel the order. As to the applications in line with the requirements for canceling the designation, no member may
limit, prevent or delay the formalities for dealing with the designation cancellation.

3.2.6

A new declaration for designated transactions may be made after the designated transactions are cancelled.

3.2.7

Other matters concerning designated transactions shall be carried out in accordance with the related provisions of this Exchange.

Section 3 Entrustment

3.3.1

When an investor buys or sells the securities, a securities account and a capital account shall be opened, and an entrustment agreement
on securities transactions shall be signed with a member. After the agreement goes into effect, the investor will become the client
of brokerage business of this member (hereinafter referred to as the client).

Investors shall deal with the opening of securities accounts in accordance with the provisions of the registration and clearing institutions
designated by this Exchange.

3.3.2

A client may entrust a member to buy or sell the securities by the self-help entrustment methods such as letters, phone calls, self-help
terminals, internet. The entrustment by phone calls, self-help terminals, internet and other self-help methods shall be dealt with
in accordance with the related provisions.

3.3.3

If a client taking part in the purchase or sales of securities by any self-help entrustment method, the member shall sign a self-help
entrustment agreement with the client.

3.3.4

Except otherwise herein provided for by this Exchange, an entrustment instruction of any client shall consist of:

(1)

The number of the securities account;

(2)

The code of the securities;

(3)

The direction of the deal;

(4)

The entrustment quantity;

(5)

The entrustment price; and

(6)

Other contents required by this Exchange and the member.

3.3.5

A member may be entrusted by a client to purchase or sell the securities by means of limit price order or market price order.

The “limit order” means that a member shall be entrusted by the client to buy or sell the securities at the prescribed price, and
a declaration shall be made by the member for purchasing the securities at the prescribed price or at a lower price and a declaration
shall be made for selling out the securities at the prescribed price or at a higher price.

The “market order” means that a member is entrusted by the client to buy or sell the securities at the market price.

3.3.6

Upon entrustment, a client may cancel the unconcluded transaction.

3.3.7

As to the entrustment cancelled or invalidated, upon confirmation, a member shall return the related capital or securities to the
client in time.

3.3.8

A member providing the securities financing services through the securities sales for its clients shall act in accordance with the
related provisions.

Section 4 Declaration

3.4.1

This Exchange will accept the declarations of competitive bidding of the members at 95 to 95, 90 to 110 and 130 to
150 every trading day.

The exchange server of this Exchange will not accept the declarations for the cancellation of orders at 9:20 to 9:25 of the aggregate
auction of opening quotation every trading day, and the transactions that haven’t been completed can be cancelled at any other time
for accepting declarations. And a declaration for cancellation will not become valid without confirmation of the exchange server
of this Exchange.

If it is considered to be necessary, this Exchange can make modulation on the time for accepting the declarations of the members.

3.4.2

Declarations shall be made in time by a member to this Exchange in accordance with the order by which it accepts the entrustments
of its clients.

3.4.3

This Exchange will accept the limit orders and market orders of the members.

3.4.4

In accordance with the demands of the market, this Exchange may accept the market orders of the types as follows:

(1)

The declaration of the conclusion of transactions at the best five prices and in real time and the cancellation of remaining orders,
namely, the transactions shall be completed in turn by taking the price of the counterpart as the transaction price within the best
five prices in real time of the counterpart, and the part of transactions that have not been completed shall be automatically cancelled;

(2)

The declaration of the conclusion of transactions at the best five prices and in real time and the change of the remaining transactions
into limit orders, namely, the transactions shall be completed in turn by taking the price of the counterpart as the transaction
price within the best five prices in real time of the counterpart, and the part of transactions that have not been completed shall
be changed into limit orders in accordance with the latest transaction price declared by this side; if no transaction in this declaration
is completed, the transactions shall be changed into limit orders in accordance with the best quotation of this side; and if there
is no declaration of this side, the declaration shall be cancelled;

(3)

Other types formulated by this Exchange.

3.4.5

The market orders shall only apply to the transactions of the securities with price limit during the course of continuous auction,
except otherwise herein provided for by this Exchange.

3.4.6

A limit order shall consist of the number of the securities account, the code of the seat, the code of the securities, the direction
of the deal, the quantity, the price, and etc.

A market order shall consist of the type of the declaration, the number of the securities account, the code of the seat, the code
of the securities, the direction of the deal the quantity, and etc.

A declaration order shall be transferred in the form prescribed by this Exchange. If it is considered to be necessary, this Exchange
may make modulation on the contents or methods of declaration.

3.4.7

As to the purchase of stocks, funds or warrants by means of competitive bidding, the declared quantity shall be 100 shares (units)
or the integral number of times thereof.

When selling the stocks, funds or warrants, the sales of the part less than 100 shares (units) shall be declared once and for all.

3.4.8

In the competitive bidding, the quantity upon declaration of the bonds transactions shall be one lot or the integral number of times
thereof, the quantity upon declaration of pledge-type repurchase of bonds shall be 100 lots or the integral number of times thereof,
as well as the quantity upon declaration of buy-out repurchase of bonds shall be 1,000 lots or the integral number of times thereof.

The 1,000 Yuan of par value of bonds in the bonds transactions or the buy-out repurchase of bonds shall be one lot, and the 1,000
Yuan of standard coupons in the pledge-type repurchase of bonds shall be one lot.

3.4.9

The largest amount in a single declaration of stock, fund or warrant transactions shall be less than one million shares (units),
the largest amount in a single declaration of transactions of bonds or pledge-type repurchase of bonds shall be less than 10,000
lots, as well as the largest amount in a single declaration of transactions of buy-out repurchase of bonds shall be less than 50,000
lots.

In accordance with the demands of the market, this Exchange may make modulation on the largest amount in a single securities declaration.

3.4.10

Different units of account shall be employed for the trading of different securities: the “price per share” for the stocks, the “price
per unit of funds” for the funds, the “price per unit of warrants” for the warrants, the “price per 100 Yuan of par value of bonds”
for the bonds, the “due annual proceeds per 100 Yuan of capital” for the pledge-type repurchase of bonds and the “due repurchase
price per 100 Yuan of par value of bonds” for the buy-out repurchase of bonds.

3.4.11

The minimum price variance unit for the transaction of A-shares, bonds or buy-out repurchase of bonds shall be 0.01 Yuan, 0.001 Yuan
for the transactions of funds or warrants, the 0.001 US Dollars for the transactions of B-shares, and 0.005 Yuan for the transactions
of pledge-type repurchase.

3.4.12

In accordance with the demands of the market, this Exchange may make modulation on the minimum price variance unit of the price upon
declaration and the declared quantity of a single transaction concerning each kind of securities.

3.4.13

The price limit to the transactions of stocks and funds shall be carried out by this Exchange, and the fluctuating proportion shall
be 10%, of which the fluctuating proportion of ST or *ST shares shall be 5%.

The formula for the fluctuating price of the shares and funds shall be as follows: Fluctuating Price = Previous Closing Price (1luctuating
Proportion).

The calculation result shall be the minimum price variance unit in accordance with the principle of rounding (to the nearest whole
number).

If it meets any of the circumstances as follows, the price limit shall not be carried out on the first listing day of stocks:

(1)

The initial public offering of stocks or close-end funds;

(2)

The issuance of additional listed shares;

(3)

The resumption of trading after the suspending of trading; or

(4)

Other circumstances recognized by this Exchange .

As approved by the CSRC, this Exchange may make modulation on the fluctuating proportion of the securities.

3.4.14

When buying or selling the securities with the price limit, the declaration during the price limit shall be valid, otherwise it shall
be an invalid declaration.

3.4.15

When buying or selling the securities without the price limit, the valid declared price at the stage of aggregate auction shall be
governed by the provisions as follows:

(1)

The declared price of stock transactions is between 200% and 50% of the previous closing price; and

(2)

The declared price for the fund or bond transactions is between 150% and 70% of the previous closing price.

There is no price limit for the T-bond repurchase transactions at the stage of aggregate auction.

3.4.16

When buying or selling the securities without the price limit, the valid price upon declaration at the stage of continuous auction
shall be governed by the provisions as follows:

(1)

The declared price is lower than 110% of the lowest selling price revealed in real time and higher than 90% of the highest buying
price revealed in real time; and simultaneously, lower than 130% of the average of the highest price upon declaration and the lowest
price upon declaration and higher than 70% of the aforesaid average;

(2)

In case there is no declared buying price revealed in real time, the lower one of the lowest selling price and the latest transaction
price revealed in real time shall be considered as the highest buying price mentioned in the preceding item; and

(3)

In case there is no declared selling price revealed in real time, the higher one of the highest buying price and the latest transaction
price revealed in real time shall be considered as the lowest selling price mentioned in the preceding item.

In case there is no transaction completed on the current day, the previous closing price shall be the latest transaction price.

In accordance with the demands of the market, this Exchange may make modulation on the provisions on the declared price limit.

3.4.17

A declaration shall be valid on the current day. If each competitive transaction declared can not be completed once and for all,
the art that has not been completed may continuously take part in the auction on the current day, except otherwise herein provided
for by this Measures.

Section 5 Auctions

3.5.1

The ways of aggregate auction and continuous auction shall be employed for the competitive securities transactions.

The “aggregate auction” refers to such a competitive method that the sales declarations as accepted during a certain period shall
be collectively matched once and for all.

The “continuous auction” refers to such a competitive method that the sales declarations shall be continuously matched item by item.

3.5.2

The sales declarations that are not completed during the period for the aggregate auction shall automatically carry out the continuous
auction.

Section 6 Conclusion of Transactions

3.6.1

The securities competitive bidding shall be matched by the principle of price and time priority as follows.

The principle of price priority at the time of transaction conclusion shall be: the declaration for the purchase at a higher price
shall take precedence over the declaration for the purchase at a lower price, and the declaration for the sales at a lower price
shall take precedence over the declaration for the sales at a higher price.

The principle of time priority at the time of transaction conclusion shall be: if the direction of the deal and the price are the
same, the former declarer shall have priority to the later declarer. The sequence of declarations shall be due to the time when the
exchange server accepts the declarations.

3.6.2

As to aggregate auction, the principle of determination of the transaction price shall be:

(1)

The price at which the maximum trading volume can be realized;

(2)

The price at which the declarations for the purchase at the price higher than the aforesaid price and the declarations for the sales
at the price lower than the aforesaid price shall all be transacted; and

(3)

The price at which all the transactions of either the buyer or the seller with the price identical with the aforesaid one shall all
be completed.

In case there are more than two prices upon declaration meeting the aforesaid conditions, the price upon declaration that makes the
smallest uncompleted transaction volume shall be the transaction price; and if there are still more than two prices upon declaration
that make the smallest uncompleted transaction volume meet the aforesaid conditions, their middle price shall be the transaction
price.

All the transactions under aggregate auction shall be completed at the same price.

3.6.3

As to continuous auction, the principle of determination of the transaction price shall be:

(1)

In case the highest price upon declaration for the purchase is the same as the lowest price upon declaration for the sales, the aforesaid
price shall be the transaction price;

(2)

In case the price upon declaration for the purchase is higher than the lowest price upon declaration for the sales revealed in real
time, the latter shall be the transaction price; and

(3)

in case the price upon declaration for the sales is lower than the highest price upon declaration for the purchase revealed in real
time, the latter shall be the transaction price.

3.6.4

In case the price reached in accordance with the principle of concluded transactions is not under the scope of minimum price variance
unit, the related minimum price variance unit shall be gotten in accordance with the principle of rounding (to the nearest whole
number).

3.6.5

After the sales declarations are matched by the exchange server, the transactions are completed. A transaction goes into effect when
the transaction is completed in accordance with the provisions in these Regulations, and both parties to the transaction shall accept
the trading result and undertake the obligation of liquidation and delivery.

In case a transaction is seriously affected by the force majeure, accident or illegal invasion into the trading system, this Exchange
may employ proper measures or consider the transaction to be invalid.

As confirmed by this Exchange and approved by the council thereof, proper measures may be employed for the clearly unfair transactions,
as well as a report shall be handed in to the CSRC.

As to the transactions that are against these Regulations and will seriously destroy the normal operation of the securities market,
this Exchange has the right to make announcement about the cancellation of the transactions. And the traders in violation of the
Regulations shall be responsible for the losses incurring there from.

3.6.6

As to the transactions completed in accordance with these Regulations, the trading results shall be determined based on the trading
data recorded in the exchange server of this Exchange.

3.6.7

The liquidation and delivery concerning the securities transactions shall be conducted by the registration and clearing institution
designated by this Exchange.

Section 7 Block Trades

3.7.1

The method of block trades may be employed for the securities sales implemented in this Exchange and meeting the conditions as follows:

(1)

The declared quantity of A-shares in a single transaction thereof is more than 500,000 shares, or the trading amount is more than
3 million Yuan;

(2)

The declared quantity of B-shares in a single transaction thereof is more than 500,000 shares, or the trading amount is more than
300,000 US Dollars;

(3)

The declared quantity of funds in a single block transaction is more than 3 million shares, or the trading amount is more than 3 million
Yuan;

(4)

The declared quantity of government bonds or the T-bond repurchase in a single block transaction thereof is more than 10,000 lots,
or the trading amount is more than 10 million Yuan;

(5)

The declared quantity of other bonds in a single transaction thereof is more than 1,000 lots, or the trading amount is more than 1
million Yuan.

In accordance with the demands in the market, this Exchange may make modulation on the minimum quota of block trades.

3.7.2

This Exchange will accept the declarations for block trades at 9:30 to 11:30 and 13:00 to 15:30 every trading day.

3.7.3

The declarations for block trades shall consist of the declarations of intent and the declarations of transaction that has been completed.

A declaration of intent shall consist of the number of the securities account, the code of the securities and the direction of the
deal and etc.

A declaration of transaction that has been completed shall consist of the number of the securities account, the code of the securities,
the direction of the deal, the price and quantity of the completed transaction and etc.

3.7.4

A declaration of intent shall be true and valid. If the price of the declaring party is unclear, it shall be considered that it is
willing to buy at the prescribed lowest price or sell out at the highest price at least; and if the quantity is unclear, it shall
be considered that it is willing to complete the transactions with the minimum declared quantity for a single block trade at least.

3.7.5

When the members accepting a declaration of intent (including the circumstance that any other member gives a more favorable price
than the declared one), the declaring party shall make the declaration of transaction that has been completed at least with one member
that has accepted the declaration of intent.

3.7.6

The transaction price of the block trade of securities with the price limit shall be determined by both parties to the transaction
under the scope of price limit on the current day.

The transaction price of the block trade of securities without the price limit shall be determined through the consultation of both
parties to the transaction based on up and down 30% of the previous closing price or between the highest and lowest prices of transactions
that have been completed on the current day.

3.7.7

Both parties to the transaction shall, after signing an agreement, make a declaration of transaction that has been completed to the
exchange server of this Exchange, and the transaction price of the declaration of transaction that has been completed shall agree
with the transaction quantity.

A declaration of transaction that has been completed shall not be changed or cancelled once it is confirmed by this Exchange, and
both parties to the transaction shall accept the transaction result.

3.7.8

A member shall make sure that the participants in block trades actually own the securities or capital related to the declaration
of intent or the declaration of transaction that has been completed.

3.7.9

The system of primary traders shall be carried out for the block trades of this Exchange concerning bonds.

A member upon approval of this Exchange may act as a primary trader, and carry out the business of bonds bilateral quotation by the
system of block trades of this Exchange.

3.7.10

A block trade shall not be calculated into the calculation of real-time market information and indices of this Exchange, as well
as the trading volume shall be calculated into the total securities trading volume after the block trade is closed.

3.7.11

As concluded of block trades every trading day, for block trades concerning stock or funds, this Exchange will publish the names
of the securities, the transaction price, the trading volume, the name of the business department of the member where both the buyer
and the seller make their transaction; for block trades concerning bonds or T-bond repurchase, this Exchange will publish the names
of the securities, the trading volume and the transaction price, etc.

Section 8 Transactions of T-bond Repurchase

3.8.1

The methods of buy-out repurchase and pledge-type repurchase, etc. may be employed for the transactions of T-bond repurchase.

3.8.2

The “buy-out repurchase of bonds” refers to such a kind of transaction in which both parties to the transaction stipulate that the
seller will buy back the same kind and amount of bonds from the buyer at the stipulated price on some day in the future, as the holder
of bonds sells the bonds to the purchaser.

The “pledge-type repurchase of bonds” refers to such a kind of transaction in which both parties to the transaction stipulate to return
the capital and remove the pledge after the expiration of the repurchasing period, as the holder of bonds pledges the bonds and obtains
the pledge financing from the trading counterpart by taking the quantity of standard coupons calculated at the rate of conversion
of standard coupons as the financial quota.

3.8

ANNOUNCEMENT NO. 30, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS CONCERNING THE MATTERS ON THE TRANSFER OF TAXABLE MOTOR VEHICLES ENTERED THE TERRITORY OF CHINA BY THE PERMANENT PERSONNEL

Announcement No. 30, 2006 of the General Administration of Customs concerning the matters on the transfer of taxable motor vehicles
entered the territory of China by the permanent personnel

[2006] No. 30
May 29,2006

In order to regulate the supervision of the customs over the motor vehicles entering the territory of China by the permanent personnel
and take into consideration their reasonable needs, an announcement concerning the matters on the transfer of taxable motor vehicles
entering the territory of China by the permanent personnel is hereby made as follows:

Any taxable motor vehicle entering the territory of China by permanent personnel shall be transferred and changed the name of the
owner in the register only one year after the vehicle register formalities have been gone through in the traffic administrative department
of the public security.

In case the permanent personnel transfers any motor vehicle entering the territory of China and changes the name of the owner in
the register, a written application shall be sent to the competent customs house and the following documents shall be handed in for
examination:

(1)

The identity certificate;

(2)

The long-term residence permit;

(3)

The Driving Permit of Motor Vehicle for the motor vehicle entering the territory of China; and

(4)

The Archival Filing Certificate of the Customs of the People’s Republic of China on Permanent Offices of the permanent office where
the permanent personnel is located or the Registration Certificate of Entities Handling Customs Declaration by Themselves of the
foreign- invested enterprise in which the permanent personnel works.

After examination and approval, the competent customs house shall issue a Certificate of Releasing from Supervision over Vehicles
under the Customs’ Supervision of the People’s Republic of China. According to the said Certificate, the permanent personnel shall
go through the formalities on transferring the motor vehicle and changing the name of the owner in the register of related motor
vehicle in the traffic administrative department of the public security.

The related provisions of the Measures of the Customs of the People’s Republic of China for Supervising the Entry and Exit of Articles
for Self-use of Non-resident Permanent Passengers (Order of the General Administration of Customs, No. 116) shall apply to other
requirements for the permanent personnel concerning self-use vehicles entering the territory of China.

This Announcement shall go into effect as of the date of being promulgated

General Administration of Customs
2006-05-29

NOTIFICATION NO.12, 2006 OF FOREIGN ASSISTANCE PROJECT BID BOARD OF THE MINISTRY OF COMMERCE

Notification No.12, 2006 of Foreign Assistance Project Bid Board of the Ministry of Commerce

Tong Gao [2006] No.12

Foreign Assistance Project Bid Board of the Ministry of Commerce held the 12th regular meeting of 2006 on Jun 6, 2006. Relevant matters
and decisions are now announced as follows:

The bid-winning enterprise of National Gymnasium Maintenance assistance project was examined and approved. The Bid Board opened sealed
tenders on May 29, 2006. In all, 15 enterprises including Liaoning International Techno-Economic Cooperation Co., Ltd., Weihai International
Economic & Technical Cooperative Co., Ltd., China Jiangsu International Economic Technical Cooperation Corp., China Jiangxi Corporation
For Economic and Technical Cooperation, Gansu Foreign Engineering Corporation, China Henan International Cooperation Group Co., Ltd.,
Jiangsu Construction Group Corp., China State Construction Engineering Corp., China Shandong Foreign Economic Technical Cooperation
Corp., Anhui Foreign Economic Construction Corporation (group) Co., Ltd., China Shanxi International Economic & Technical Cooperative
Co., Ltd, Hubei Construction Engineering Group Corporation, Ningbo Construction Group Co., Ltd., China Tianjian International Economic
and Technical Cooperative Corporation and China SFECO Group Co.,Ltd..submitted tender documents on time. The Bid Board, in accordance
with “the Measures for Tender Assessment of Undertaking Foreign Assistance Complete Plant Projects” which was revised in 2005 by
the Ministry of Commerce of the People’ Republic of China, for Trial Implementation and the principles of “competing with no minimum
bid ” and “biding with reasonable lower price “, determined to confer bid to China Jiangsu International Economic Technical Cooperation
Corporation after two steps of tender assessment with technical measures and integrated quantity measures.

The bid-winning enterprise of Rwanda Ministry of Foreign Affairs Office Building assistance project was examined and proved. The
Bid Board opened sealed tenders on May 29,2006. In all, 18 enterprises including China Civil Engineering Construction Corporation,
Chongqing Foreign Construction Co., Ltd., Yanjian Group Co., Ltd., Anhui Foreign Economic Construction Corporation (group) Co.,
Ltd., Qingdao Construction Group Corporation, Beijing Construction Engineering Group Co., Ltd., Shanxi Construction Engineering (group)
Co., China National Overseas Engineering Corporation, Guangdong Xinguang International Group Co., Ltd., Guangdong Construction Engineering
Group Co., Ltd., Qilu Construction Group Corporation, China Jiangsu International Economic Technical Cooperation Corp., Fujian Construction
Engineering Group General Co., Jiangsu Construction Group Corp., Anhui Construction Engineering Group Co., Ltd., Zhengtai Group Co.,
Ltd., China Ershisanye Construction Group Co., Ltd. and Zhejiang Electric Power Construction Corp. submitted tender documents on
time. The Bid Board, in accordance with “the Measures for Tender Assessment of Undertaking Foreign Assistance Complete Plant Projects”
which was revised in 2005 by the Ministry of Commerce of the People’ Republic of China, for Trial Implementation and the principles
of “competing with no minimum bid ” and “biding with reasonable lower price “,, determined to confer bid to Beijing Construction
Engineering Group Co.Ltd. after two steps of tender review with technical measures and integrated quantity measures .

The contract price of Pakistan medical team for disaster areas of earthquake assistance project was examined and approved.

The tender mode of Mozambique National Gymnasium investigation and design assistance project was discussed. The Bid Board adopted
limited invitation tender mode, and 6 enterprises including Beijing Institution of Architectural Design, Wuhan Architectural Design
Institute, China IPPR Engineering Corporation, China Railway Engineering Consultants Group Co., Ltd., China International Engineering
Design & Consult Co., Ltd. and East China Investigation and Design Institute will be invited to participate in the bid.

Foreign Assistance Project Bid Board of the Ministry of Commerce

Jun 6, 2006

Foreign Assistance Project Bid Board of the Ministry of Commerce
2006-06-06

CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON THE RELEVANT ISSUES ON THE INTEREST RATE OF THE LOANS FOR ETHNIC TRADE AND THE PRODUCTION OF ETHNIC ARTICLES DURING THE 11TH FIVE-YEAR PLAN

Circular of the People’s Bank of China on the Relevant Issues on the Interest Rate of the Loans for Ethnic Trade and the Production
of Ethnic Articles During the “11th Five-Year Plan”

Ying Fa [2006] No.315

Shanghai Head Office, all branches, business administration departments, central sub-branches of provincial capital cities of the
People’s Bank of China, and all state-owned commercial banks:

For the purpose of supporting the development of the ethnic minority regions, the People’s Bank of China, pursuant to the spirit of
the relevant instructions of the State Council, determined to continue offering preferential interest rates to the loans for ethnic
trade and the production of ethnic articles during the “11th five-year plan”. The relevant issues are notified as follows:

The People’s Bank, the Ministry of Finance and the State Ethnic Affairs Commission will actively make researches on new measures on
the interest discount of the loans for ethnic trade and the production of ethnic articles during the “11th five-year plan”. As for
the designated enterprises in the business of ethnic trade and the production of the commodities specially needed by minority ethnic
groups, all state-owned commercial banks shall, before the promulgation of new measures, continue carrying out the preferential interest
rate policy, under which the interest rate of the normal loan for current capital shall be lower than the benchmark interest rate
of the normal “one-year” loan for current capital by 2.88 percentage points and the preferential interest rate may not be floated,
and this preferential policy shall enter into force as of January 1, 2006. The range of the granting of the loans with preferential
interest rate, application for loan, administration of preferential interest rate, procedures for applying interest subsidies and
other relevant issues shall be done still according to the Notice on Continuing Granting Preferential Interest Rate to the Loans
for Ethnic Trade and the Production of Ethnic Articles (Yin Fa [1997] No.437 and the Notice of the People’s Bank of China on Issues
Concerning the Interest Rate of the Loans for Ethnic Trade and the Production of Ethnic Articles (Yin Fa [2003] No.8).

Shanghai Head Office, all branches, and the business administration departments of the People’s Bank of China shall intensify the
inspection and supervision of the carrying out of the preferential interest rate policy on the loans for ethnic trade and the production
of ethnic articles, and do well the work in respect of interest discount.

People’s Bank of China

September 6, 2006

The People’s Bank of China
2006-09-06

CIRCULAR OF THE MINISTRY OF FINANCE, THE NATIONAL DEVELOPMENT AND REFORM COMMISSION, THE MINISTRY OF COMMERCE, THE GENERAL ADMINISTRATION OF CUSTOMS AND THE STATE ADMINISTRATION OF TAXATION ON ADJUSTING THE EXPORT REBATE RATE FOR SOME COMMODITIES AND SUPPLEMENTING THE PROHIBITIVE CATALOG FOR PROCESSING TRADE

Circular of the Ministry of Finance, the National Development and Reform Commission, the Ministry of Commerce, the General Administration
of Customs and the State Administration of Taxation on Adjusting the Export Rebate Rate for Some Commodities and Supplementing the
Prohibitive Catalog for Processing Trade

Cai Shui [2006] No. 139

Finance Departments (Bureaus) in all provinces, autonomous regions, municipalities directly under the Central Government and cities
specially designated in the State plan, commerce authorities in charge in the State Administration of Taxation and the National Development
and Reform Commission, Guangdong Branch Office, Tianjin and Shanghai Agencies of the General Administration of Customs, all customs
authorities directly under the General Administration of Customs, Finance Bureau and Development and Reform Commission in Xinjiang
Production and Construction Corps:

With the approval from the State Council, the export rebate rate for some commodities shall be adjusted and the prohibitive catalog
for processing trade shall be supplemented. And a circular is hereby given on relevant issues as follows:

Article 1

Adjusting the export rebate rate for some commodities

(1)

The export rebate for these commodities as follows shall be abolished:

(a)

All nonmetal minerals except salt and cement in Chapter 25 of Tax Regulations for Import and Export; coal, natural gas, paraffin,
asphalt, silicon, arsenic, rock materials, nonferrous metals and waste materials, etc;

(b)

Ceramic metal, 25 kinds of pesticides and their mesosomes, some ready-made leathers, lead-acid storage battery, mercury oxide battery,
etc.;

(c)

Fine goat hair, charcoal, railway sleeper, corkwood products, some preliminary ready-made wood products, etc.

Resort to Annex 1 for the exact commodities and their duty paragraph.

(2)

The export rebate rate for these commodities as follows shall be lowered:

(a)

The export rebate rate for rolled steels (142 duty paragraphs) shall be lowered to 8% from 11%;

(b)

The export rebate rate for ceramics, some ready-made leathers and cement and glass shall be respectively lowered to 8% and 11% from
13%;

(c)

The export rebate rate for some nonferrous metal materials shall respectively be lowered to 5%, 8% and 11% from 13%;

(d)

The export rebate rate for textile products, furniture, plastics, cigarette lighters, and some wood products shall be lowered to
11% from 13%;

(e)

The export rebate rate for non-mechanical-driven vehicles (barrows) and their components and parts shall be lowered to 13% from 17%.

Resort to Annex 2 for the exact commodities and their duty paragraphs.

(3)

The export rebate rate for some commodities shall be raised:

(a)

The export rebate rate for important technological equipments, some IT products and bio-medical products and some high-tech products
whose export are encouraged by the State industrial policy shall be raised to 17% from 13%;

(b)

The export rebate rate for some processed products using agricultural products as raw materials shall be raised to 13% from 5% or
11%.

Resort to Annex 3 for the exact commodities and their duty paragraphs.

(4)

Implementation Time

(a)

These aforesaid adjustments of export rebate rates shall come into force as of September 15, 2006 (based on the enter-out date).

(b)

With regard to the export contracts concluded before September 14, 2006 (including September 14, 2006), and the goods subject to
these aforesaid adjustments of export rebate rates which enter out before December 14, 2006 (including December 14, 2006), an export
enterprise may continue to go through the formalities of export rebate in accordance with the pre-adjustment export rebate rates.
However, an export enterprise shall, before September 30, 2006, go through the formalities of registration and record at the taxation
authorities in charge of export rebate, and if failing to do to so and entering out after December 15, 2006, the adjusted export
rebate rate shall be uniformly carried out.

The aforesaid export contract refers to an authentic and effective export contract in written form with a clear conclusion date, name
of commodity, unit price, quantity and amount etc. and with the signatures or seals of the representatives from both an export enterprise
and foreign businessmen, and in line with the provisions in the Contract Law and relevant laws and regulations, and a contract failing
to be in line with the prescriptions shall uniformly not be allowed to undergo the formalities of record, and an export contract,
once undergoing such formalities of record, shall uniformly bear no alteration. And the exact measures for administration of record
of an export contract shall be issued separately by the State Administration of Taxation.

Once an export enterprise is detected to seek illegal interests by altering, counterfeiting and signing inversely the date and other
means, the taxation authorities shall not handle the formalities of export rebate for it, and the rebated or excessively rebated
funds shall be recovered, and a fine shall be given in accordance with the provisions in relevant laws and regulations.

(c)

An long-term trade contract of coal export with an unchangeable price concluded before September 14, 2006 (including September 14,
2006) shall undergo the formalities of registration and record at the taxation authorities in charge of export rebate before September
30, 2006, and only after such formalities are undergone, may the contract hereof be fulfilled based on the pre-readjustment export
rebate rate.

With regard to the aforesaid enter-out date, the export date clearly indicated in the Declaration Bill for Export Goods (exclusively
used for export rebate) by the customs authorities shall apply.

Article 2

Supplementing the prohibitive catalog for processing trade

The commodities whose export rebates are abolished before and this time shall be enlisted in the prohibitive catalog for processing
trade. An import duty and import linkage tax shall be uniformly imposed on the commodities enlisted in the prohibitive catalog for
processing trade. The exact names and duty paragraphs of the commodities enlisted in the prohibitive catalog for processing trade
shall be separately issued by the Ministry of Commerce together with relevant authorities. This prescription shall come into force
as of September 15, 2006. And a processing trade business which is approved by the commerce authorities in charge and has undergone
the formalities of record at the customs authorities shall be allowed to be fulfilled within its period of validity in accordance
with the former import bonded policy, and if the re-export fails to be completed, no postponement shall be given, and it shall be
subject to the provisions on domestic sale of processing trade, and another announcement shall separately be issued by the Ministry
of Commerce together with the General Administration of Customs in accordance with the aforesaid spirit.

These aforesaid prescriptions shall also be applicable in export processing zones, bonded zones and other zones specially-supervised
by customs authorities.

This Circular is hereby given.

Ministry of Finance

National Development and Reform Commission

Ministry of Commerce

General Administration of Customs

State Administration of Taxation

September 14, 2006

Ministry of Finance, National Development and Reform Commission, Ministry of Commerce, General Administration of Customs,
State Administration of Taxation
2006-09-14

MINISTRY OF COMMERCE CIRCULAR ON EXPORT QUOTAS VOLUME OF INDUSTRIAL PRODUCTS OF FOREIGN-INVESTED ENTERPRISES OF 2006

Ministry of Commerce

Ministry of Commerce Circular on Export Quotas Volume of Industrial Products of Foreign-invested Enterprises of 2006

Shang Zi Han [2005] No. 107

Administrative commercial departments of all provinces, autonomous regions, municipalities under the Central Government and cities
specifically designated in the state plan:

In accordance with related regulations on Administration on Quota License of Foreign-invested Enterprises, here issues the export
quotas volume of industrial products of foreign-invested enterprises of 2006, which is also released through the network of managing
system on import and export of foreign-invested enterprises. Please inform related enterprises of applying export license in accordance
with regulations of this Circular.

Please well organize implementation of the export quotas volume of industrial products of the local foreign-invested enterprises,
and feedback the implementing status to Ministry of Commerce Department of Foreign Investment Administration in time. In case of
any requirements on deduction, adding or re-approval of applications of foreign-invested enterprises with export scale, please carry
out preliminary examination in time and report to Ministry of Commerce.

Appendix: Export Quotas Volume of Industrial Products of Foreign-invested Enterprises of 2006 (omitted)

Ministry of Commerce

Feb 7, 2006

Ministry of Commerce
2006-02-07

ACCOUNTING STANDARD FOR BUSINESS ENTERPRISES NO. 10 – ENTERPRISE ANNUITY FUND

Ministry of Finance

Accounting Standard for Business Enterprises No. 10 – Enterprise Annuity Fund

Cai Kuai [2006] No. 3

February 15, 2006

Chapter I General Provisions

Article 1

To standardize the confirmation and measurement of enterprise annuity fund and the presentation of financial statements, these Standards
are formulated in accordance with the Accounting Standard for Business Enterprises – Basic Standards.

Article 2

The term “enterprise annuity fund” refers to fund raised by an enterprise in the light of the enterprise annuity plan and the supplementary
endowment insurance fund raised by its operating income of investment.

Article 3

The enterprise annuity funds shall be confirmed, measured and presented as independent accounting subjects.

The entrusting party, entrusted party, trustee, account manager, investment manager and other subjects providing services for the
management of enterprise annuity fund shall strictly distinguish the enterprise annuity fund and its fixed assets from other assets
so as to ensure the safety of the enterprise annuity fund.

Chapter II Confirmation and Measurement

Article 4

The enterprise annuity fund shall be confirmed and measured respectively on the basis of assets, liabilities, incomes, expenses and
net assets.

Article 5

The assets formed by payments for the enterprise annuity fund and by the operation of the annuity fund shall include the monetary
funds, settlement accounts receivable of securities, interests receivable, purchases of resale securities, other receivables, bond
investments, fund investments, stock investments and other investments.

Article 6

During the operation of the enterprise annuity fund, the initial acquisition values and subsequent values of the national debt gained
under the State investment scope, the financial debentures and enterprise obligations with the credit rating at the investment grade
or above, convertible obligations, investment insurance products, securities investment funds, stocks and other financial products
with good liquidity shall be measured as the fair value:

(1)

The transaction price paid on the transaction date shall be measured as the fair value when an initially investment obtained. The
transaction fee shall be directly recorded as profit or loss for the current period; and

(2)

When estimating the value of an investment on the estimate day, the original carrying value of the investment shall be adjusted according
to its fair value, and the difference between its fair value and its original carrying value shall be recorded as profit or loss
for the current period.

The determination of the fair value of an investment shall be subject to the Accounting Standard for Business Enterprises No. 22 –
Recognition and Measurement of Financial Instruments.

Article 7

The liabilities formed during the operation of the enterprise annuity fund include the settlement accounts receivable of securities,
beneficiaries’ treatments payable, the management fees payable to the entrustee, the management fees payable to the custodian, the
management fees payable to the investment manager, the taxes payable, the sale accounts of repurchased bonds, the interests payable,
the commissions payable, and other accounts payables.

Article 8

The incomes formed by the operations of the enterprise annuity fund include the interest incomes on deposits, interests, from the
buying of resold bonds, gains on the changes in the fair value, incomes of investment disposal, and other incomes.

Article 9

The incomes shall be confirmed and measured according to the following provisions:

(1)

The interest incomes on deposits shall be determined according to the principal and applicable interest rate;

(2)

The incomes from buying of resold bonds shall, within the time limit of securities loan, be determined according to the purchase price
of the resold bonds, and the interest rate as stipulated in the agreement;

(3)

The gains on the changes in the fair value shall, on the estimate date, be determined according to the difference between the fair
value of the investment on the current date and the original carrying value (namely the fair value of the investment on the previous
estimate date);

(4)

The incomes of investment disposal shall be determined according to the difference between the price obtained from the sale of investment,
and the carrying value of the investment; and

(5)

Other incomes such as risk reserves shall be determined according to the amount actually incurred.

Article 10

The expenses incurred during the operation of the enterprise annuity fund include the transaction expenses, management fees of the
entrusted party the trustee, and the investment manager, the disbursements for the sale of repurchased bonds, and other expenses.

Article 11

The expenses shall be confirmed and measured according to the provisions as follows:

(1)

The transaction expenses, including the commission charge, commissions and other necessary disbursements paid to the commissioned
agents, consultation agents and broker, the amount of which shall be determined in accordance with the actually incurred amount;

(2)

The management fees payable to the entrusted party, trustee, and investment manager shall be determined according to the actual amount
of provisions;

(3)

The disbursements for the sale of repurchased bonds shall, within the time limit for financing, be determined in accordance with the
sales price of the repurchased bonds and the interest rate as stipulated in the agreement;

(4)

Other expenses shall be determined in accordance with the actually incurred amount.

Article 12

The net assets of the enterprise annuity fund refers to the balance of the assets of the enterprise annuity fund minus liabilities.
The date of balance sheet shall carry forward the incomes and expenses of the current period into the net assets.

Different accounts shall be created for the net assets of an enterprise in view of the enterprise itself and the individual employees,
and the distributed operating proceeds shall timely be recorded in each of the aforesaid accounts in accordance with the plan of
the enterprise on annuity fund.

Article 13

The net assets shall be confirmed and measured in accordance with the provisions as follows:

(1)

For the payments collected from the enterprise and employees, the net assets shall be increased according to the amount received;

(2)

For the treatments paid to the beneficiaries, the net assets shall be reduced in accordance with the amount payable;

(3)

As the transfer-in amount of an individual account incurred due to an employee’s transfer into the enterprise, the net assets shall
be increased; and

(4)

As the transfer-out amount of an individual account incurred due to an employee’s transfer out of the enterprise, the net assets shall
be reduced.

Chapter III Presentation

Article 14

The financial statements for the enterprise annuity fund include the balance sheets, net assets change statements and annotations.

Article 15

The balance sheet shall reflect the financial status of the enterprise annuity fund on a specific date. It shall be presented and
sorted by the assets, liabilities and net assets.

Article 16

The items of the assets shall at least present the information as follows:

(1)

The monetary fund;

(2)

The settlement accounts receivable of bonds;

(3)

The receivable interests;

(4)

The purchases of resold securities;

(5)

Other accounts receivable;

(6)

The bond investments;

(7)

The fund investments;

(8)

The stock investments;

(9)

Other investments; and

(10)

Other assets.

Article 17

The items of the liabilities shall at least present the information as follows:

(1)

The settlement accounts payable of bolds;

(2)

The beneficiaries’ treatments payable;

(3)

The management fees payable to the entrustee;

(4)

The management fees payable to the trustee;

(5)

The management fees payable to the investment manager;

(6)

The taxes payable;

(7)

The amounts from the sale of repurchased bonds;

(8)

The payable interests;

(9)

The commissions payable; and

(10)

Other payables.

Article 18

The items of the net assets shall present the net value of the enterprise annuity fund.

Article 19

The net assets change statements shall reflect the increases and reductions of the net assets of the enterprise annuity fund, and
present the information as follows:

(1)

The opening net assets;

(2)

The current amount of increase of the net assets, including the current incomes, payments collected from the enterprise, payments
collected from the employees, transfer-in of individual accounts;

(3)

The current amount of reduction of net assets, including the current expenses, treatments paid to the beneficiaries, transfer-out
of individual account; and

(4)

The closing net assets.

Article 20

The annotations shall disclose the information as follows:

(1)

The main contents and important changes of the annuity fund plan of an enterprise;

(2)

The sorts of investments, amounts, and methods for the confirmation of the fair value;

(3)

The proportion of each kind of investments to the total amount of investments; and

(4)

Any other item that is likely to cause important influence on the investment value.

Appendix: Balance Sheet htm/e04960.htm¼

Appendix:

Balance Sheet

No. 01 Annual Annuity Fund

Entity: Year Month Date Unit: Yuan

Assets	Line No.	Opening Amount of the year	Closing Amount	Liabilities and Net Assets	Line No.	Opening Amount of the year	Closing Amount
Assets				Liabilities
Monetary funds				Settlement accounts payable of securities
Settlement accounts receivable of securities				Payable treatments to beneficiaries
Interests receivable				Management fees payable to the entrustee
Purchases of resale securities				Management fees payable to the trustee
Other receivables				Management fees payable to the investment manager
Bond investments				Taxes payable
Fund investments				Price of sale of repurchased bonds
Stock investment				Interests payable
Other investments				Commission payable
Other assets				Other payables
				Total amount of liabilities

				Net assets:
				Net value of annuity funds of the enterprise
				1...212223...25 Page 22 of 25 Must Read Laws An Overview of International Law Child Labor Laws In China Philippine Law: Batas Blg. 17 An Easy Explanation to International Business China Laws Russia Laws Constitution Brazilian Laws Brazilian Constitution German Laws Federal Acts Canadian Laws Canadian Constitution Consolidated Regulations Categories 1956 1957 1958 1959 1961 1964 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Brazilian Constitution Canadian Constitution Canadian Laws China Laws Civil Constitution Constitutional Convention Contract Contracts Copyright Corporate Correcting or Changing Information Credit Union Administration Criminal Declaration of Independence default defaultnews Diaspora Divorce Domestic Drugs DUI Elder Law Emotional Injury Expungements Federal Acts Federalist Papers Fiancee Visa Finance Finance terms Foreclosure Foreign Visa Foreign Visas Forgery General Criminal Law General Robbery Guardianship Immigration Immigration Laws Inheritance Injury Injury Defense Injury Law Injury Negligence Injury Workplace Insanity Claims International Iraq Labor Larceny Looting Malpractice Manslaughter Marriage Medical Malpractice Mesothelioma Military Molestation Natural Disaster Naturalization Citizenship Nazi Non Criminal Homicide Nursing Home Objectives Passport Application Form perjury Piracy Probate Prostitution Publications Refugee Law Refugees Displaced Person Reporting Injury Sexual Harassment Spousal Rape State Local Government Revenue Stream Statutory Rape Student Visas Tax Tests The Founding Fathers The Supreme Court Traffic Travel Visa Uncategorized Visa Work Visa 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 CONSTITUTION ACT, 1982 – page 17 CONSTITUTION ACT, 1982 – page 16 CONSTITUTION ACT, 1982 – page 12 CONSTITUTION ACT, 1982 – page 11 CONSTITUTION ACT, 1982 – page 10 CONSTITUTION ACT, 1982 – page 9 CONSTITUTION ACT, 1982 – page 8 CONSTITUTION ACT, 1982 – page 7 Disclaimer: There is no confidential attorney-client relationship formed by using Laws.com website and information provided on this site is not legal advice. For legal advice, please contact your attorney. Attorneys listed on this website are not referred or endorsed by this website. By using Laws.com you agree to Laws.com Terms Of Use. Facebook © LAWS.COM NETWORK 2023-2024

Probate

NOTICE OF THE STATE COUNCIL ON IMPROVING THE BEARING MECHANISM OF CENTRAL AND LOCAL EXPORT TAX REFUND

MEASURES FOR THE ADMINISTRATION OF TAX DEDUCTION OR EXEMPTION (FOR TRIAL IMPLEMENTATION)

MEASURES FOR THE ADMINISTRATION OF ADMINISTRATIVE LAW ENFORCEMENT IN CULTURAL MARKET

ANNOUNCEMENT NO. 23, 2006 OF MINISTRY OF COMMERCE, ON REDUCING THE TARIFF ON MIXED EDIBLE GREASE OR PRODUCTS

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF THE IMPORT AND EXPORT OF ENDANGERED WILD ANIMALS AND PLANTS

TRANSACTION REGULATIONS OF SHANGHAI STOCK EXCHANGE

ANNOUNCEMENT NO. 30, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS CONCERNING THE MATTERS ON THE TRANSFER OF TAXABLE MOTOR VEHICLES ENTERED THE TERRITORY OF CHINA BY THE PERMANENT PERSONNEL

NOTIFICATION NO.12, 2006 OF FOREIGN ASSISTANCE PROJECT BID BOARD OF THE MINISTRY OF COMMERCE

CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON THE RELEVANT ISSUES ON THE INTEREST RATE OF THE LOANS FOR ETHNIC TRADE AND THE PRODUCTION OF ETHNIC ARTICLES DURING THE 11TH FIVE-YEAR PLAN

MINISTRY OF COMMERCE CIRCULAR ON EXPORT QUOTAS VOLUME OF INDUSTRIAL PRODUCTS OF FOREIGN-INVESTED ENTERPRISES OF 2006

ACCOUNTING STANDARD FOR BUSINESS ENTERPRISES NO. 10 – ENTERPRISE ANNUITY FUND

CONSTITUTION ACT, 1982 – page 22

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

CONSTITUTION ACT, 1982 – page 17

CONSTITUTION ACT, 1982 – page 16

CONSTITUTION ACT, 1982 – page 12

CONSTITUTION ACT, 1982 – page 11

CONSTITUTION ACT, 1982 – page 10

CONSTITUTION ACT, 1982 – page 9

CONSTITUTION ACT, 1982 – page 8

CONSTITUTION ACT, 1982 – page 7