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CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON CARRYING OUT THE PILOT WORK ON TRANSFERRING THE EXAMINATION AND APPROVAL POWER CONCERNING THE TAX REFUND (EXEMPTION) ON EXPORTED GOODS TO LOWER LEVELS

Circular of the State Administration of Taxation on Carrying out the Pilot Work on Transferring the Examination and Approval Power
concerning the Tax Refund (Exemption) on Exported Goods to Lower Levels

Guo Shui Han [2006] No.502

The state taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically
designated in the state plan,

With a view to optimizing the export tax refund service and further strengthening the connection between tax collection and tax refund,
the State Administration of Taxation, upon study, decides to implement the pilot work on transferring the examination and approval
power concerning the tax refund (exemption) on exported goods to lower levels, and hereby notifies the relevant issues as follows:

I.

Definition of and Qualifications for the Transfer of Examination and Approval Power to Lower Levels

The “transfer of examination and approval power concerning tax refund (exemption) on exported goods to lower levels” refers to the
transfer of the examination and approval power concerning tax refund (exemption) on exported goods to the taxation organs at the
level of county (district, banner and county-level city, similarly hereinafter) from the taxation organs at or above the level of
districted city or autonomous prefecture (hereinafter referred to as the municipal taxation organ). The qualifications for the transfer
shall be that the amount of export tax refund (exemption) of the taxation organ at the county level has reached a certain scale,
the taxation organ has established a special management institution for export tax refund or arranged full-time managers for export
tax refund and the post configuration meets the requirements for supervision and restriction.

II.

Pilot Scope

1.

The pilot scope for the transfer of examination and approval power concerning production enterprises to lower levels

a.

Zhejiang Province and Jiangsu Province are the pilot provinces. Except few unqualified cities of the pilot provinces, all other cities
shall be generally incorporated into the pilot scope, and the specific scope for the transfer of examination and approval power concerning
the tax refund (exemption) on exported goods of production enterprises to lower levels shall be determined by the state taxation
bureau at the provincial level.

b.

With a view to accumulating experience and doing a good job in the following promotion work, other provinces (provinces and autonomous
regions, similarly hereinafter) may, in light of their respective actual situations, choose one or two cities for the pilot transfer
of examination and approval power on production enterprises to lower levels. And some unqualified provinces may not carry out the
pilot work for the time being.

c.

Any county, to which the examination and approval power has been transferred, shall establish a special management institution for
export tax refund or arrange two or more full-time managers for export tax refund.

Where any county within the jurisdiction of a pilot city cannot meet the said qualifications, the foresaid examination and approval
power shall still be exercised by the municipal taxation authority.

2.

The pilot scope for the transfer of examination and approval power concerning foreign trade enterprises to lower levels

(1) Zhejiang, Jiangsu, Guangdong and Shandong Provinces may choose one or two counties that can simultaneously meet the following
qualifications for the transfer of examination and approval power concerning the export tax refund to foreign trade enterprises to
lower levels.

a.

There are ten or more foreign trade enterprises within the jurisdiction;

b.

The annual export amount of its subordinate foreign trade enterprises is up to 100 million US Dollars or more; and

c.

A special export tax refund management institution has been established and has five or more full-time persons for export tax refund
management.

(2) Other provinces may not carry out the pilot transfer of examination and approval power concerning foreign trade enterprises to
lower levels for the time being.

3.

All the municipalities directly under the Central Government and the cities under separate state planning shall not carry out the
pilot transfer of examination and approval power to lower levels for the time being.

III.

Requirements for the Pilot Work

1.

After the transfer of the examination and approval power to lower levels, the management power for tax exemption, deduction and transfer
shall still be in the charge of the taxation organ of municipal level, and the planned management of tax exemption, deduction and
transfer shall also be strengthened.

2.

The pilot work shall be conducted in light of the specific situations. Where the personnel, their qualities and other aspects do
not meet the requirements, the pilot work shall not be conducted.

3.

After the transfer of the examination and approval power to lower levels, all the regions shall, in light of the actual situations
of their respective regions, further specify the duties concerning the export tax refund management at the levels of province, municipality
and county, and formulate corresponding management rules on export tax refund.

IV.

All regions shall attach great importance to the pilot work on the transfer of examination and approval power concerning the tax
refund (exemption) on exported goods to lower levels. And the leaders of local bureaus who are in charge of export tax refund shall
take command in person, strengthen the internal coordination, formulate practical and feasible pilot projects, and timely report
the problems they encounter, their opinions and suggestion to the upper levels.

V.

All regions shall, before June 10, 2006, report their pilot project to the State Administration of Taxation (the Department of Import
and Export Taxes) by formal documents, and begin to conduct the pilot work as of July 1, 2006.

State Administration of Taxation

May 29, 2006



 
State Administration of Taxation
2006-05-29

 






INTERIM PROVISIONS ON THE EXAMINATION OF SECURITIES LISTING IN SHANGHAI STOCK EXCHANGE

Notice of Shanghai Stock Exchange on Promulgating the Interim Provisions on the Examination of Securities Listing in Shanghai Stock
Exchange

For the purpose of regulating the examination of the listing of securities, suspension of listing and termination of listing, the
Interim Provisions on the Examination of Securities Listing in Shanghai Stock Exchange has been instituted by this Exchange, which
are hereby promulgated and shall go into effect as of the day of promulgation.
Shanghai Stock Exchange

June 12, 2006

Interim Provisions on the Examination of Securities Listing in Shanghai Stock Exchange
Chapter I General Provisions

Article 1

In order to regulate the examination of securities listing in Shanghai Stock Exchange (hereinafter referred to as this Exchange),
protect the legitimate rights and interests of investors and maintain the order of the securities market, the current Provisions
is formulated in accordance with the Rule of Shanghai Stock Exchange for Stock Listing (hereinafter referred to as the Rule for Stock
Listing), Rule of Shanghai Stock Exchange for the Listing of Enterprise Bonds (hereinafter referred to as the Rule for Enterprise
Bonds Listing) and other related rules.

Article 2

The examination on the following matters shall comply with the current Provisions. In the absence of the related provisions in the
current Provisions on any matter concerned, it shall be comply with the Rule for Stock Listing, the Rule for Enterprise Bond Listing
and other related provisions:

(1)

The initial public listing of stocks, enterprise bonds and corporate bonds;

(2)

The re-listing of any stocks, enterprise bonds, corporate bonds and convertible corporate bonds whose listing have been suspended;

(3)

The suspension or termination of listing of any stocks, enterprise bonds, corporate bonds and convertible corporate bonds; and

(4)

Any other listing of securities, suspension of listing, recovery of listing and termination of listing that shall be conducted by
this Exchange.

Article 3

The Listing Committee set up by this Exchange shall make examination on the matters prescribed in the preceding paragraph. This Exchange
shall make a determination on examination in accordance with the examination opinions produced by the Listing Committee.

Making examination, the listing Committee may be in the forms such as examination meeting, direct voting by communications or any
other form.

Article 4

The members of the Listing Committee shall independently discharge their functions and duties in their own names and shall be free
from any interference from any unit or individual.

Chapter II Listing Committee

Article 5

The members of the Listing Committee shall be appointed by this Exchange from those qualified experts in the specialties such as
accounting, law and related fields and qualified professionals in any other organizations, and the results shall be released publicly.

Article 6

The term of office for the members of the Listing Committee is 2 years and may be renewed upon expiration.

This Exchange may modulate the term of tenure and the number of tenures of the members of the Listing Committee as required.

Article 7

A member of the Listing Committee shall meet the requirements as follows:

(1)

Getting familiar with the related laws and administrative regulations on and state policies for securities;

(2)

Getting familiar with securities operations and the operating regulations of this Exchange;

(3)

Having a good reputation within his sector and having no record of being punished for any criminal or administrative or any disciplinary
sanction by any self-regulatory organization;

(4)

Adhering to the related principles, being honest and clean and strictly observing the law; and

(5)

Meeting any other requirement required by this Exchange.

Article 8

When discharging his functions and duties, a member of the Listing Committee shall observe the provisions as follows:

(1)

Showing due diligence and accountability and systematically reviewing the related materials in an all-round way;

(2)

Attending the examination in accordance with the related requirements, independently putting forward his opinions and perform his
right of voting in accordance with the requirements of the related laws, administrative regulations and the Rules of this Exchange;

(3)

Not accepting any present from any unit or individual pertinent to the examined items and not secretly contacting any of the aforesaid
units or individuals;

(4)

Keeping confidential all state secrets and commercial secrets of the relevant entities obtained in discharging his duties and functions
and not revealing any information concerning the meeting to the general public;

(5)

Not seeking any interest for himself or any other person by taking advantage of the non-public information obtained in discharging
his duties and functions; and

(6)

Meeting other requirement made by this Exchange.

Article 9

If meeting any of the circumstances as follows, a member of the Listing Committee shall be dismissed by this Exchange:

(1)

Failing to meet the requirements prescribed in Article 7 of the current Provisions;

(2)

In violation of the provisions in Article 8 of the current Provisions and the circumstances are serious;

(3)

Failing to attend the examination for not less than 2 times during his term of office;

(4)

Applying for leaving office himself; or

(5)

Meeting any other circumstance prescribed by this Exchange.

Article 10

An examination shall be carried out by 7 members selected by this Exchange from the Listing Committee, among whom the number of the
actual participants shall be 5 or more and there shall be at least a lawyer and an accountant as well.

Article 11

In case a member that has been selected by this Exchange to attend an examination has any direct or indirect interest relationship
with the related applicant or examined matter, thereby causing affect on impartially discharging his functions and duties, he shall
apply for withdrawal in time.

Article 12

A working group of the Listing Committee (hereinafter referred to as the working group) shall be set up within listed company department
and bond funds department of this Exchange, which shall deal with the affairs as follows:

(1)

Accepting the IPO application materials;

(2)

Making sure whether the selected members can attend the examination;

(3)

Submitting the examination materials to the related members;

(4)

Attending the examination meeting and taking the meeting minutes;

(5)

Making Decisions on Examination and sending them on the related applicants; and

(6)

Dealing with any other matter required by the Listing Committee.

Chapter III Procedures for Examination

Article 13

If an issuer applies for listing or re-listing in accordance with the provisions of items (1) and (2) in Article 2 of the current
Provisions, he shall hand in the related materials to this Exchange in accordance with the provisions such as the Rule for Stock
Listing and the Rule for Enterprise Bonds Listing.

Article 14

If any suspension or termination of listing to the securities as listed in this Exchange, the related business departments of this
Exchange shall put forward a suggestion for settlement., hand in it to the Listing Committee as well as give the issuer concerned
notice.

Article 15

If an issuer believes that any member of the Listing Committee who has been publicized by this Exchange has any direct interest relation
with the examined matter concerning IPO or re-listing and thus is not suitable for participating in an examination, he shall hand
in an application for withdrawal in written form and give an interpretation,

If an issuer believes that any member of the Listing Committee who has been publicized by this Exchange to the general public has
any direct interest relation with the examined matter concerning the suspension of listing or termination of listing and thus is
not suitable for participating in an examination, he shall hand in an application for withdrawal in written form to this Exchange
as well as give an interpretation within 3 days as of the day of receiving the notification prescribed by Article 14 of the current
Provisions.

This Exchange shall determine whether the related members shall withdraw or not upon examination.

Article 16

Before making an examination, the working group shall deliver the related materials to the members participating in the examination.

Article 17

If any member designated to attend an examination finds out that he shall withdraw or fails to attend the examination for any special
reason, he shall give notice to the working group before the examination starts, hand in an application in written form and give
an interpretation thereon. This Exchange shall make verification to adjust the members who shall attend the examination.

Article 18

If the Listing Committee holds a meeting for examination, the meeting shall be presided over by the convener designated by this Exchange
from the members participating in the examination. An examination meeting shall be held in accordance with the procedures as follows:

(1)

If the number of members to participate in the examination meeting reaches the prescribed headcount, the members shall fill out the
due statements on whether they have any contact with the related applicant beforehand or whether they should withdraw, which shall
be handed in to the working group for verification before the convener announces the commencement of the meeting and takes charge
of the presidency thereof;

(2)

The convener organizes the members to put forward their views on the examined items one by one;

(3)

The convener make a summarization on the major examination opinions of the members to formulate the examination opinions of the examination
meeting;

(4)

The members make confirmation on the examination meeting minutes and the records of examination opinions and sign their signatures
thereto;

(5)

The members take votes; and

(6)

The working group makes supervision on the voting and makes summarization on the result thereof;

(7)

The convener makes announcement about the result of voting; and

(8)

The members sign their names on the voting results of the examination meeting.

Article 19

If any member participating in an examination believes it necessary, he may request this Exchange to give notice to the related applicant
to be interrogated or may request this Exchange to employ the related professional institutions or experts to give their special
opinions thereon.

Article 20

The Listing Commission shall make examination on the to-be-examined items in a one-off manner. If any big issue is yet to be verified
or under any circumstance where any member may be seriously affected in making a correct judgment, the voting for the related to-be-examined
items may, upon the consent of more than half of the members participating in the examination, be suspended for one time.

Article 21

The voting of examined items shall be subject to open ballot. Each member participating in an examination has one vote. An examination
resolution will not become valid until it is voted and approved by not less than 2/3 members who participate in the examination.

Article 22

This Exchange shall make a determination on the examined matters as prescribed by the provisions of Article 2 of the current Provisions
within the term prescribed by the Rule for Stock Listing and the Rule for Enterprise Bonds Listing. In particular, the time for an
issuer to hand in the related supplementary documents as required by this Exchange, the time for modulating the date of meeting because
of the withdrawal of any member and the time for this Exchange to employ the related special institutions or experts to give their
special opinions shall not be charged to the term for this Exchange to make any related determination.

Article 23

Where an applicant, related agency or the representative thereof makes, when submitting the related materials or being interrogated,
any false or misleading statement or conceal any important fact, this Exchange shall, in accordance with the related provisions and
the related circumstances, make a circulation of criticisms or public denouncement.

Article 24

If a securities issuer is dissatisfied with any determination made by this Exchange, he may give an application to the Review Committee
of this Exchange for review within the prescribed time limit, yet the implementation of the determination of this Exchange shall
not be stopped during the period of review.

Chapter IV Supplementary Provisions

Article 25

The current Provisions shall put into operation after being employed by the Council of this Exchange upon deliberation. The revision
of the current Provisions shall also be subject to the aforesaid rule for effectiveness.

Article 26

The current Provisions shall go into effect as of the day of promulgation.



 
Shanghai Stock Exchange
2006-06-12

 






ANNOUNCEMENT NO.73, 2006 OF MINISTRY OF COMMERCE ON AUCTION OF STATE SUGAR RESERVE OF SEPTEMBER

Announcement No.73, 2006 of Ministry of Commerce on Auction of State Sugar Reserve of September

[2006] No.73

For purposes of guaranteeing market supply and safeguarding the smooth operation of sugar market, related departments of the State
Council decides to release 286,000 ton of national sugar reserve at two auctions in September. The first auction on Sep 12 covers
147,000 ton of state sugar reserve, including the state sugar reserve that was supposed to be released on Sep and the 10th and 11th
ship of imported sugar from Cuba. The second auction on Sep 19 covers 139,000 ton of state sugar reserve, including the state sugar
reserve that was suspended on Aug 15 and the 12th and 13th ship of imported sugar from Cuba. Please refer to website of Ministry
of Commerce ￿￿http￿￿//scyxs.mofcom.gov.cn/￿￿for details of the auction.

Ministry of Commerce

Sep 7, 2006



 
Ministry of Commerce
2006-09-07

 






CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON RELEVANT ISSUES CONCERNING THE RECORD OF EXPORT CONTRACT

Circular of the State Administration of Taxation on Relevant Issues concerning the Record of Export Contract

Guo Shui Han [2006] No. 847

Bureaus of State Taxes in all provinces, autonomous regions, municipalities directly under the Central Government and cities specially
designated in the State plan:

With the approval from the State Council, Circular on Readjusting the Export Rebate Rate for Some Commodities and Supplementing the
Prohibitive Catalog for Processing Trade (Cai Shui [2006] No. 139) was released by the Ministry of Finance, the Ministry of Commerce,
the National Development and Reform Commission, the State Administration of Taxation, the General Administration of Customs, prescribing
that the export rebate rate for some export goods shall be adjusted as of September 15, 2006, and that after an export contract concluded
with foreign parties before September 14, 2006 (including September 14, 2006) undergoes the formalities of record at the taxation
authorities within the prescribed period, and if the goods under this export contract hereof are exported within the prescribed period,
an export enterprise may continue to go through the formalities of export rebate in accordance with the pre-adjustment export rebate
rates. And a circular is hereby given on relevant issues concerning the record of export contract as follows:

Article 1

An export contract to be recorded as mentioned in this Circular refers to a contract in written from concluded in accordance with
the provisions in Article 11 of the Contract Law of the People’s Republic of China, and these conditions as follows shall be met
at the same time:

(1)

To be concluded before September 14, 2006 (including September 14, 2006);

(2)

To have clear indications of a contract conclusion date, export enterprise, foreign businessman, name of export commodities, unit
price, quantity, amount, contract serial number, etc.;

(3)

To have the signatures or seals from both the export enterprise and the foreign businessman, and an contract in written from concluded
in the form of data cable shall be printed by the export enterprise and signed or sealed by the person in charge of the enterprise
hereof;

(4)

The content of the contract shall be authentic and effective.

Article 2

An export enterprise shall, before September 30, 2006, submit the original copy of the contract bearing the seal of the enterprise
hereof in line with the provisions in Article 1 of this Circular and its duplicated copy (a clear indication to be given to be in
line with the original copy and signed by the person in charge of the export enterprise hereof), and the Application Form for Record
of Export Contracts (See Annex 1) to the local taxation authorities in charge of export rebate (hereinafter referred to as the taxation
authorities) for record.

Article 3

The taxation authorities at all levels shall timely handle the application of an export enterprise for record of the relevant export
contract, and carefully examine and verify it in accordance with the provisions in Article 1 and Article 2 of this Circular. After
the examination and verification, the export contract which is in line with the provisions shall be allowed to undergo the formalities
of record, and the original copy of the export contract hereof shall be returned to the export enterprise at the same time; and the
export contract which fails to be in line with the provisions shall uniformly not be allowed to undergo the formalities of record,
and be returned to the export enterprise.

Once an export contract undergoes the formalities of record, it shall bear no alteration.

Article 4

After an export enterprise enters out the goods under the aforesaid export contract, a separate indication shall be given when the
formalities of export rebate are undergone.

Article 5

The taxation authorities shall, when examining and approving the export rebate for the goods under the aforesaid recorded export
contract, emphatically examine and verify the main content and the content in relation to the actual export in the recorded export
contract besides examining and verifying routinely the documents which shall be provided by an export enterprise in accordance with
the current provisions. Where the goods are exported before December 14, 2006 (including December 14, 2006, and the date of export
in the Declaration Bill for Export Goods (exclusively used for export rebate) indicated by the customs authorities shall apply),
and the actually exported goods are in line with the export enterprise, foreign businessman, name of export commodity and other items
in the recorded export contract, the taxation authorities shall handle the formalities of export rebate in accordance with the pre-adjustment
export rebate rate; where any of the export enterprise, foreign businessman, name of export commodity etc. under the recorded export
contract bears alterations, the export goods within the recorded amount of this contract shall undergo the formalities of export
rebate in accordance with adjusted export rebate rate, and the excessively rebated funds shall be recovered by the taxation authorities.

The aforesaid recorded amount refers to the export amount of the export goods applying for being subject to the pre-adjustment export
rebate rate.

Article 6

Where an export contract of an export enterprise undergoes the formalities of record at the taxation authorities, and the amount
and quantity of the actually exported goods exceed the recorded amount and quantity in the recorded contract, the exceeded part shall
undergo the formalities of export rebate in accordance with the readjusted export rebate rate.

Article 7

Except the business of processing imported materials for re-export, the export businesses applying for export rebate in other modes
of trade shall be subject to the measures for record of export contract prescribed in this Circular.

Article 8

With regard to the export on consignment, the agreement on export on consignment concluded with a consignee enterprise of a consigner
enterprise shall undergo the formalities of record at the taxation authorities besides its export contract. Where an export contract
is concluded between a consignee and a foreign businessman, the consigner shall uniformly go through the formalities of contract
record.

Article 9

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.

Article 10

The export of coal shall undergo the formalities of record of export contract in accordance with the provisions in Article 1 .4.3
of the document coded Cai Shui [2006] No. 139.

Article 11

The taxation authorities at all levels shall do well the work of sorting and statistics of the recorded export contracts. The Bureaus
of State Taxes in all provinces (autonomous regions, municipalities directly under the Central Government and cities specially designated
in the State plan) shall, before October 31, 2006, report to the State Administration of Taxation (Department of Import and Export
Duties and Taxes) in written form the record of contracts of this time and the Statistical Form for Record of Export Contracts (Annex
2, excluding coal export).

Annexes

1.

Application Form for Record of Export Contracts (omitted)

2.

Statistical Form for Record of Export Contracts (omitted)

State Administration of Taxation

September 14, 2006



 
State Administration of Taxation
2006-09-14

 






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CONSTITUTION ACT, 1982 – page 22

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

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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