ACCOUNTING STANDARDS FOR ENTERPRISES NO. 20 – BUSINESS COMBINATIONS

the Ministry of Finance

Accounting Standards for Enterprises No. 20 – Business Combinations

Cai Kuai [2006] No. 3

February 15, 2006

Chapter I General Provisions

Article 1

With a view to regulating the recognition and measurement of business combinations, and disclosure of relevant information, the present
Standards are formulated according to the Accounting Standards for EnterprisesDBasic Standards.

Article 2

The term “business combinations” refers to a transaction or event bringing together two or more separate enterprises into one reporting
entity.

Business combinations are classified into the business combinations under the same control and the business combinations not under
the same control.

Article 3

The business combinations regarding business operation shall be subject to the present Standard.

Article 4

The present Standards does not apply to the following business combinations:

(1)

Any business combination in which two or more enterprises form a joint venture;

(2)

Any business combination in which two or more separate enterprises are brought together into a reporting entity merely by contract
other than ownership shares.

Chapter II Business Combinations under the Same Control

Article 5

A business combination under the same control is a business combination in which all of the combining enterprises are ultimately controlled
by the same party or the same parties both before and after the business combination and on which the control is not temporary.

In a business combination under the same control, the party which obtains control of other combining enterprise(s) on the combining
date is the combining party, the other combining enterprise(s) is (are) the combined party.

The “combining date” refers to the date on which the combining party actually obtains control on the combined party.

Article 6

The assets and liabilities that the combining party obtains in a business combination shall be measured on the basis of their carrying
amount in the combined party on the combining date. As for the balance between the carrying amount of the net assets obtained by
the combining party and the carrying amount of the consideration paid by it (or the total par value of the shares issued), the additional
paid-in capital shall be adjusted. If the additional paid-in capital is not sufficient to be offset, the retained earnings shall
be adjusted.

Article 7

Where, during a business combination under the same control, the accounting policy adopted by the combined party is different from
that adopted by the combining party, the combining party shall, according to accounting policy it adopts, adjust the relevant items
in the financial statements of the combined party, and shall, pursuant to the present Standard, recognize them on the basis of such
adjustment.

Article 8

The direct cost for the business combination of the combining party shall, including the expenses for audit, assessment and legal
services, be recorded into the profits and losses at the current period.

The bonds issued for a business combination or the handling fees, commissions and other expenses for assuming other liabilities shall
be recorded into the amount of initial measurement of the bonds or other debts. The handling fees, commissions and other expenses
for the issuance of equity securities for the business combination shall be credited against the surplus of equity securities; if
the surplus is not sufficient, the retained earnings shall be offset.

Article 9

Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall, on the combining date , prepare a consolidated balance sheet, a profit statement and a cash flow statement.

In the consolidated balance sheet, the assets and liabilities of the combined party shall be measured pursuant to their carrying amount.
If it is necessary to make an adjustment according to the present Standard because the accounting policy adopted by the combined
party is different from that adopted by the combining party, the assets and liabilities of the combined party (parties) shall be
measured on the basis of the post-adjustment carrying amount.

The consolidated profit statement shall include the incomes, expenses and profits of the combining party incurred from the beginning
of the current period to the combining date. The net profits of the combined party which has been realized prior to the combination
shall be reflected through an item separately presented in the profit statement.

The consolidated cash flow statement shall include the cash flow of the parties to the combination from the beginning of the current
period to the combining date.

When preparing consolidated financial statements, the internal dealings of the parties to the combination shall be treated according
to the Accounting Standards for Enterprises No. 33 – Consolidated Financial Statement.

Chapter III Business Combination Not under the Same Control

Article 10

A business combination not under the same control is a business combination in which the combining enterprises are not ultimately
controlled by the same party or the same parties both before and after the business combination.

In a business combination not under the same control, the party which obtains the control on other combining enterprise(s) on the
purchase date is the acquirer, and other combining enterprise(s) is (are) the acquiree.

The “acquisition date” refers to the date on which the acquirer actually obtains the control on the acquiree.

Article 11

An acquirer shall determine the combination costs respectively in light of the following circumstances:

(1)

For a business combination realized by a transaction of exchange, the combination costs shall be the fair values, on the acquisition
date, of the assets paid, the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the
control on the acquiree.

(2)

For a business combination realized by two or more transactions of exchange, the combination costs shall be the summation of the costs
of all separate transactions.

(3)

All relevant direct costs incurred to the acquirer for the business combination shall also be recorded into the cost of business combination.

(4)

Where any future event that is likely to affect the combination costs is stipulated in the combination contract or agreement, if it
is likely to occur and its effects on the combination costs can be measured reliably, the acquirer shall record the said amount into
the combination costs.

Article 12

The acquirer shall, on the acquisition date, measure the assets given and liabilities incurred or assumed by an enterprise for a business
combination in light of their fair values, and shall record the balances between them and their carrying amounts into the profits
and losses at the current period.

Article 13

The acquirer shall distribute the combination costs on the acquisition date, and shall, according to Article 14 of the present Standards,
recognize all identifiable assets, liabilities and contingent liabilities it obtains from the acquiree.

(1)

The acquirer shall recognize the positive balance between the combination costs and the fair value of the identifiable net assets
it obtains from the acquiree as business reputation.

The business reputation upon initial measurement shall be measured on the basis of its costs minus the accumulative impairment provisions.
The impairment of business reputation shall be treated according to the Accounting Standards for Enterprises No. 8 – Asset Impairment.

(2)

The acquirer shall, pursuant to the following provisions, treat the balance between the combination costs and the fair value of the
identifiable net assets it obtains from the acquiree:

(a)It shall reexamine the measurement of the fair values of the identifiable assets, liabilities and contingent liabilities it obtains
from the acquiree as well as the combination costs;

(b)If, after the reexamination, the combination costs are still less than the fair value of the identifiable net assets it obtains
from the acquiree, it shall record the balance into the profits and losses of the current period.

Article 14

The” fair value of the identifiable net assets of the acquiree” refers to the balance of the fair value of the identifiable assets
acquired from the acquiree in a business combination minus the fair value of the liabilities and contingent liabilities. The identifiable
assets, liabilities and contingent liabilities which meet the following conditions shall be recognized separately:

(1)

As for the assets other than intangible assets acquired from the acquiree in a business combination (not limited to the assets which
have been recognized by the acquiree), if the economic benefits brought by them are likely to flow into the enterprise and their
fair values can be measured reliably, they shall be separately recognized and measured in light of their fair values.

As for any intangible asset acquired in a combination, if its fair value can be measured reliably, it shall be separately recognized
as an intangible asset and shall measured in light of its fair value.

(2)

As for the liabilities other than contingent liabilities acquired from the acquiree, if the performance of the relevant obligations
are likely to result in any out-flow of economic benefits from the enterprise, and their fair values can be measured reliably, they
shall be separately recognized and measured in light of their fair values.

(3)

As for the contingent liabilities of the acquiree obtained in a combination, if their fair values can be measured reliably, they shall
separately recognized as liabilities and shall be measured in light of their fair values. After a contingent liability is measured
initially, it shall be subject to a subsequent measurement according to the higher one of the following amounts:

(a)the amount which shall be recognized according to the Accounting Standards for Enterprises No. 13 – Contingent Events.

(b)the balance of the initially recognized amount minus the accumulative amortization amount which is recognized according to the
principle of the Accounting Standards for Enterprises No. 14 – Revenue.

Article 15

Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall prepare accounting books for future reference, which shall record the fair values of the identifiable assets, liabilities and
contingent liabilities it obtains from the subsidiary company on the acquisition date. When preparing consolidated financial statements,
it shall adjust the financial statements of the subsidiary company on the basis of the fair values of the identifiable assets, liabilities
and contingent liabilities determined on the acquisition date.

Article 16

Where a business combination occurs at the end of the current period, if the fair values of the identifiable assets, liabilities and
contingent liabilities acquired in the combination or the cost of the business combination can only be determined temporarily, the
acquirer shall recognize and measure the business combination on the basis of the temporarily determined values.

Where an adjustment is made to the temporarily determined values within 12 months after the acquisition date, it shall be deemed as
the recognition and measurement on the acquisition date.

Article 17

Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall prepare a combined balance sheet on the acquisition date, which shall present the identifiable assets, liabilities and contingent
liabilities acquired in the combination at their fair values. As for the balance between the combination cost of the parent company
and the fair value of the identifiable net assets it obtains from the subsidiary company, it shall present the result of the treatment
according to the present Standards.

Chapter IV Disclosure

Article 18

Where a business combination occurs at the end of the current period, the combining party shall, in its notes, disclose the following
information related to the business combination under the same control:

(1)

the basic information on the combining enterprises;

(2)

the grounds for the judgment of the business combination under the same control;

(3)

the basis for the determination of the combining date;

(4)

Where the consideration for the combination is the cash paid, the non-cash assets transferred and the liabilities assumed, it shall
disclose the carrying amount of the consideration on the combining date. Where equity securities are issued as consideration for
the combination, it shall disclose the number of the equity securities issued during the combination, the pricing principle as well
as the proportion of the shares with voting power exchanged by the parties to the combination;

(5)

The carrying amounts of the assets and liabilities of the combined party on the balance sheet date of the prior accounting period
as well as on the combining date; the information on the revenue, net profits and cash flow of the combined party from the beginning
of the current period, in which the combination occurs, to the combining date;

(6)

the information on the contingent liabilities of the combined party to be assumed according to the stipulations of the combination
contract or agreement;

(7)

an explanation on the adjustment made because the accounting policy adopted by the combined party is different from that adopted by
the combining party; and

(8)

the carrying amount or disposal price of the combined party’s assets or liabilities which have been disposed of or are to be disposed
of.

Article 19

Where a business combination occurs at the end of the current period, the acquirer shall, in its notes, disclose the following information
on the business combination not under the same control:

(1)

the basic information on the combining enterprises;

(2)

the basis for the determination of the acquisition date;

(3)

the composition, carrying amount and fair value of the combination costs, as well as the method for the determination of the fair
value thereof;

(4)

the carrying amounts and fair values of the identifiable assets and liabilities of the acquiree on the balance sheet date of the previous
accounting period as well as on the acquisition date

(5)

the information on the acquiree’s contingent liabilities to be assumed according to the stipulations of the combination contract or
agreement;

(6)

the information on the revenues, net profits and cash flow of the acquiree from the acquisition date to the end of the reporting period

(7)

the amount of business reputation and the determination method adopted;

(8)

the amount which is recorded into the profits and losses of the current period because the combination cost is smaller than the fair
value of the identifiable net assets acquired from the acquiree in the business combination;

(9)

the carrying amount or disposal price of the acquiree’s assets or liabilities which have been disposed of or are to be disposed of.

the Ministry of Finance
2006-02-15

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON FURTHER REGULATING THE WORK FOR THE ADMINISTRATION OF KEY SOURCES OF INCOME TAX OF FOREIGN-RELATED ENTERPRISES

the State Administration of Taxation

Circular of the State Administration of Taxation on Further Regulating the Work for the Administration of Key Sources of Income Tax
of Foreign-related Enterprises

Guo Shui Han [2006] No.244

March 3rd, 2006

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

With a view to strengthening administration on the sources of income tax of foreign-funded enterprises and foreign enterprises (hereinafter
referred to as “foreign-related enterprises”), the State Administration of Taxation distributed the Circular of the State Administration
of Taxation on Relevant Issues concerning Strengthening the Administration on the Sources of Income Tax of Foreign-related Enterprises
(Guo Shui Han No.435 [2004], hereinafter referred to as the Circular on the Administration on Sources of Income Tax of Foreign-related
Enterprises), and requested the enterprises of key tax sources to establish the mechanisms for monitoring, early warning, reporting
and circulating reports. In light of the requirements of the Circular on the Administration on the Sources of Income Tax of Foreign-related
Enterprises, we hereby make the following circular on relevant concrete issues concerning doing a good job for the administration
on key sources of income tax of foreign-related enterprises:

Establishing the System of Management on the Key Sources of Income Tax of Foreign-related Enterprises in the Charge of Special Persons

Determining the key tax sources. Each locality shall, in light of the actual conditions, determine the key tax source enterprises
of its own locality. In principle, the total revenue of income taxes payable by the key tax source enterprises, which is annually
determined by each locality, shall account for more than 50% of the total revenue of income taxes of foreign-related enterprises
within its own locality. Where an enterprise is under any of the following circumstances, it shall be regarded as a key tax source
enterprise: (1) its annual sales income is 100 million yuan or more; (2) the annual foreign-related enterprise income tax paid by
it is 5 million yuan or more; (3) it is on the Name List of Key Source Enterprises of Foreign-related Enterprise Income Tax Countrywide
determined by the State Administration of Taxation (See Attachment I); (4) it is listed in the top ten enterprises in terms of the
revenue of foreign-related enterprise income tax in this locality; and (5) it is determined by each locality as a key tax source
to be monitored.

Establishing standard archives. Each locality shall, for the enterprises that have been brought into the list of key tax sources of
its locality, take various measures to establish the mechanism of communication between taxation agencies and enterprises, and set
up enterprise archives for the key tax source enterprises by industrial sectors and accounts. It shall track and make investigations
on them on the monthly or quarterly basis. In case any abnormal condition is discovered in the monthly or quarterly income, the locality
shall analyze the reasons in a timely manner, and file the analysis results into the archives of enterprises. Each locality shall
make flexibility analysis and industry analysis on the relevant economic indicators and the revenue of income tax of the key tax
source enterprises in terms of their operation and taxation conditions, and file the relevant analysis reports into the enterprises’
archives.

Appointing special personnel to take charge. Each locality shall establish a high efficient system for monitoring and managing the
key tax source enterprises, and master the alteration of the key tax sources and the trend of change in the revenue of enterprise
income tax in a timely, accurate and overall manner, and make timely predication on the revenue of income tax of foreign-related
enterprises. The international (foreign-related) taxation administrations at the provincial level shall appoint special personnel
to take charge of the work of tax source monitoring and revenue analysis on the key tax source enterprises.

Each locality shall fill in the Form of Basic Information of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises
(See Attachment II), which are included in the Name List of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises
and among the top ten enterprises of the locality in terms of the revenue of foreign-related enterprise income taxes. The aforesaid
Form of Basic Information of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises and the names and contact telephones
of the personnel in the international (foreign-related) taxation administrations at the provincial level who take charge of monitoring
the key tax source enterprises and income analysis shall be reported to the State Administration of Taxation (International Taxation
Department) before the end of April, 2006 by floppy disks or CDs.

II.

Further Regulating the Mechanism of the Management on Key Tax Sources of Income Taxes of Foreign-related Enterprises and the Income
Analysis

In light of the particularity and effectiveness of the management of income tax of foreign-related enterprises, the department of
international (foreign-related) taxation management of each locality shall effectively combine the work for the management on key
tax sources of foreign-related enterprises and the revenue analysis work so as to improve the efficiency and quality of the management
on tax sources of income tax of foreign-related enterprises and the work of income analysis. Therefore, you shall focus your work
on the following:

Monthly Analysis. Each locality shall make a brief analysis on the monthly revenue of income taxes of foreign-related enterprises
at the locality by month. The emphasis shall be laid on making a brief analysis on the factors of increase and decrease in terms
of the abnormal changes (an increase of 0%) incurred in the monthly revenue of its own locality by referring to the relevant conditions
of the key tax source enterprises of its locality. Each locality shall, before the 8th day of the next month (postponed in the case
of festivals or holidays), fill in the Form of Revenue Analysis of Income Taxes of Foreign-related Enterprises (For monthly analysis)
(See Attachment III) concerning the abnormal alteration of the monthly income and the reasons that account for such an alteration,
and report it to the State Administration of Taxation (International Taxation Department). No report may be made if there is no abnormality.

Quarterly Analysis. Each locality shall, on the basis of the monthly analysis, make an in-depth analysis quarterly on the total profit
of the key tax source enterprises and other relevant economic indicators, the quarter prepayment of foreign-related enterprise income
taxes of its locality as well as the accumulative income, and fill in the Statistics Form of Income Tax Revenue of Foreign-related
Enterprises of the Key Tax Source Enterprises and the Profit Thereof (For Quarterly Analysis) (See Attachment IV), so as to evaluate
the prepayment of income taxes of foreign-related enterprises, discover the imbalance of entry of state treasury and other problems
and make prediction on the revenue of the current year. Each locality shall, before the 25th day of the next month after the end
of each quarter (postponed in the case of festivals or holidays), fill in the Statistics Form of Income Tax Revenue of Foreign-related
Enterprises of the Key Tax Source Enterprises and the Profit Thereof in light of the prepayment of income taxes of the last quarter,
and a written analysis report, and report them to the State Administration of Taxation (International Tax Department).

Annual Analysis. The annual analysis shall be conducted at two stages:

(1)

Each locality shall, at the end of the fourth quarter each year by referring to the incomes, costs, profits and other relevant economic
indicators of the key foreign-related tax source enterprises, make an in-depth analysis on the prepayment of taxes of the last quarter
and the revenue of the whole year, make a detailed and systematic analysis on all the major factors affecting the increase and decrease
of the revenue of its own locality. Such an analysis report shall be reported to the State Administration of Taxation (International
Taxation Department) before January 31 of the next year.

(2)

Each locality shall, by referring to the settlement and payment of income taxes of foreign-related enterprises, make an overall and
detailed analysis on the operation of the key tax source enterprises, the tax payment thereof and the income tax revenue of the foreign-related
enterprises of the current year, and fill in the Form of Information on Income Tax of Foreign-related Enterprises by Nature and Industry
(Annual Analysis) (See Attachment V). The analysis shall include the flexibility analysis on the year-round operations of the key
tax source enterprises, the tax payment thereof, relevant economic indicators and the income tax revenue of foreign-related enterprises
(full standard), the analysis on the year-round revenue by industries and economic types, the analysis on tax burdens and the prediction
on the revenues of the next year, and etc.. When making an annual analysis, each locality may, for the taxation and major economic
indicators (for example, the sales profit rate) within the whole country by industry, district, or enterprise scale, consult the
“Basic Data of Foreign-related Enterprises in the Year 2000-2003” and the “Basic Data of Income Taxes of Foreign-related Enterprises
Countrywide in 2004”, which have been distributed at the meeting of international (foreign-related) taxation work countrywide. The
aforesaid annual analysis report and the Form of Information on Income Tax of Foreign-related Enterprises by Nature and Industry
shall be reported to the State Administration of Taxation (International Tax Department) before August 25 of the next year.

III.

Requirements for Data Collection and Analysis Report Submission

Each locality shall, when determining foreign-related key tax source enterprises and filling in the analysis form, make full use of
the “Key Tax Source Investigation and Analysis System” by the department of statistics, and try its best to collect data from this
System. A single archive shall be established for the foreign-related key tax source enterprise that is not listed in the aforesaid
System.

Each locality may report the monthly and quarterly analysis materials by fax (010-63417977) or via the FTP (network) of the State
Administration of Taxation (Path: the State Administration of Taxation/CENTER/International Taxation Department/Department of Taxation
Collection Administration). The annual reports shall be submitted as official documents. For the convenience of making statistics
and analysis, the written materials reported shall be made in Microsoft WORD, while the tables shall take be made in EXCELL.

IV.

Establishing the System of Regular Circulation of Reports

The State Administration of Taxation shall collect information and circulate regular reports on the work of management on key tax
sources of foreign-related enterprise income taxes, income tax revenues and the analysis reports on the revenue reported, and pay
attention to the examination on the quality and effectiveness of the aforesaid work, and circulate a report of criticism on the districts
with low quality in the work of management on key tax sources and the work of revenue analysis.

Each locality may formulate concrete measures for the management on key tax sources and income analysis according to the realities,
and continuously improve the efficiency and quality of the work for the management and analysis on income taxes of foreign-related
enterprises, and strengthen the monitoring and management on foreign-related key tax source enterprises in an earnest and efficient
manner.

the State Administration of Taxation
2006-03-03

PROVISIONS GOVERNING PHARMACEUTICAL DIRECTIONS AND LABELS

State Food and Drug Administration

Order of the State Food and Drug Administration

No. 24

The Provisions Governing Pharmaceutical Directions and Labels, which were deliberated and adopted at the executive meeting of the
State Food and Drug Administration on March 10, 2006, are hereby promulgated, and shall come into force as of the date of June 1,
2006.

Director General Shao Mingli

March 15, 2006

Provisions Governing Pharmaceutical Directions and Labels

Chapter I General Provisions

Article 1

For the purpose of regulating the administration of pharmaceutical directions and labels, the present Provisions are formulated in
accordance with the Pharmaceutical Administration Law of the People’s Republic of China and the Regulations for the Implementation
of the Pharmaceutical Administration Law of the People’s Republic of China.

Article 2

The directions and labels of the pharmaceuticals sold on market within the territory of the People’s Republic of China shall meet
the requirements in the present Provisions.

Article 3

Pharmaceutical directions and labels shall be subject to the ratification of the State Food and Drug Administration.

The labels of a pharmaceutical shall be based on the directions, and the contents thereof shall not exceed the scope of directions,
and may not be printed with any word or mark that implies the curative effect, misleads the usage or inappropriately advertises the
product.

Article 4

The package of a pharmaceutical must be printed or affixed with the label according to the Provisions, and shall not carry any other
literal or video materials or other information that advertises the product or the enterprise.

The smallest packages produced by a pharmaceutical manufacturing enterprise for sale on the market must be attached with directions.

Article 5

The literal expression in pharmaceutical directions and labels shall be scientific, regular and accurate. The directions of an OTC
pharmaceutical shall use the literal expression easy to understand in addition, so that the patients may identify, choose and use
the pharmaceutical by themselves.

Article 6

The words in pharmaceutical directions and labels shall be clear and easily identifiable, and the marks shall be clear and eye-catching,
and no printed word shall be missing or loosely affixed, nor shall any mark be amended or supplemented by means of affixation, cutting
or alteration, etc.

Article 7

Pharmaceutical directions and labels shall use regular Chinese characters promulgated by the State Language Commission. If the same
contents are simultaneously expressed in both Chinese and another language, the Chinese expression shall prevail.

Article 8

With a view to protecting public health and guiding correct use of medicine, a pharmaceutical manufacturing enterprise may take initiative
to add cautions on the pharmaceutical directions or labels, and the State Food and Drug Administration may also require pharmaceutical
manufacturing enterprises to add cautions on directions or labels.

Chapter II Pharmaceutical Directions

Article 9

The directions of a pharmaceutical shall include important scientific data, conclusion and information on its safety and effectiveness,
so as to guide the safe and reasonable usage of the pharmaceutical. The specific format, contents and writing requirements of the
pharmaceutical directions shall be formulated and promulgated by the State Food and Drug Administration.

Article 10

The expression in the directions of a pharmaceutical for the name of a disease, the professional pharmacological terms, the name of
a pharmaceutical, and the name and result of the clinical examination shall use the special words uniformly promulgated or regularized
by the state, and the metrological units shall meet the national standards.

Article 11

The directions of a pharmaceutical shall list all active ingredients or the medical herbs of composite prescriptions. The injections
and OTC pharmaceuticals shall list the names of all supplementary materials in use in addition.

Where a pharmaceutical prescription contains any ingredient or supplementary material that might cause a serious adverse reaction,
the matter shall be stated.

Article 12

A pharmaceutical manufacturing enterprise shall actively trace the safety and effectiveness of a pharmaceutical on market, and shall
file an application in time when it is necessary to amend the pharmaceutical directions.

The State Food and Drug Administration may also require the pharmaceutical manufacturing enterprise to amend the pharmaceutical directions
on the basis of the information on the results from monitoring of adverse reactions of a pharmaceutical, or from re-assessment of
the pharmaceutical, etc..

Article 13

After the amendment of directions of a pharmaceutical are approved, the pharmaceutical manufacturing enterprise shall immediately
notify the relevant pharmaceutical trading enterprises, the using entities and other relevant departments of the amended contents,
and timely use the amended directions and labels according to the requirements.

Article 14

The directions of a pharmaceutical shall contain full information on adverse reactions of the pharmaceutical, and indicate the adverse
reactions in details. The adverse consequences caused therefrom shall be borne by the manufacturing enterprise if the pharmaceutical
manufacturing enterprise fails to timely amend the directions according to the safety and effectiveness of the pharmaceutical on
market or fails to fully state the adverse reactions of the pharmaceutical in directions.

Article 15

The dates of ratification and amendment of the directions of a pharmaceutical shall be both indicated on an eye-catching position
in the directions.

Chapter III Labels of Pharmaceuticals

Article 16

The labels of a pharmaceutical shall refer to the contents printed or affixed on the packages of the pharmaceutical, which includes
interior labels and exterior labels. The interior labels of a pharmaceutical shall refer to the labels on the packages that are in
direct contact with the pharmaceutical, while the exterior labels shall refer to the labels on other packages out of the interior
label.

Article 17

The interior labels of a pharmaceutical shall include such contents as the general name of the pharmaceutical, indications or functions,
specifications, usage, dosage, date of production, product batch number, valid term and manufacturing enterprise, etc.

Where the package size is too small and the aforesaid contents cannot be fully indicated, the contents such as the general name of
the pharmaceutical, specifications, product batch number, and valid term shall be indicated as a minimum requirement.

Article 18

The exterior labels of a pharmaceutical shall indicate such contents as the general name of the pharmaceutical, ingredients, character,
indications or functions, specifications, usage, dosage, adverse reactions, contraindication, precautions, storage, date of production,
product batch number, valid term, approval number, and manufacturing enterprise, etc. If the indications or functions, usage, dosage,
adverse reactions, contraindication and precautions cannot be fully indicated, the main contents and the words “see directions for
details” shall be indicated.

Article 19

The labels of the packages used for transport and storage shall at least indicate the general name of the pharmaceutical, specifications,
storage, date of production, product batch number, valid term, approval number and manufacturing enterprise, and may also indicate
necessary contents such as the package quantity, precautions for transport or other marks when necessary.

Article 20

The labels of a raw material medicine shall indicate the name of the medicine, storage, date of production, product batch number,
valid term, applicable standards, approval number, and manufacturing enterprise, and shall indicate necessary contents such as the
package quantity and precautions for transport at the same time.

Article 21

For the same pharmaceutical manufactured by the same pharmaceutical manufacturing enterprise, the contents, format and color of the
label must be consistent with each other if the pharmaceutical specifications and the package specifications are the same; on the
other hand, the labels shall be distinctively different, or the difference shall be explicitly indicated in the specifications if
the pharmaceutical specifications and the package specifications are different.

Where the same pharmaceutical manufactured by the same pharmaceutical manufacturing enterprise is managed separately as both prescription
pharmaceutical and OTC pharmaceutical, the packages and colors of both shall be distinctive from each other.

Article 22

For a pharmaceutical with particular storage requirements, such requirements shall be indicated at an eye-catching position on the
label.

Article 23

The valid term on a pharmaceutical label shall be indicated in a sequence of “year, month and date”. The year shall be expressed with
four numerals, while both the month and the date shall be expressed with two numerals. The specific format shall be “valid up to
(aaaear)/(aonth)” or “valid up to (aaaear)/(aonth)/(aate)”; or may be expressed with numerals and other symbols
as “valid up to aaaa” or “valid up to aaaaa, etc.ical product for preventive use shall be indicated in light
of the standards approved by the State Food and Drug Administration for registration, and the valid term of a biological product
for curative use shall be counted as of the date of dispensation. The valid term of any other pharmaceutical shall be counted as
of the date of production.

If the year, month and date of a valid term are all indicated, the indicated expiry date shall be the day corresponding to that before
the beginning date, while if only the year and month are indicated, the indicated expiry month of shall be the month corresponding
to that before the beginning month.

Chapter IV Use of Names and Registered Trademarks of Pharmaceuticals

Article 24

The name of pharmaceutical indicated in pharmaceutical directions and labels must conform to the principles promulgated by the State
Food and Drug Administration on giving general names and commodity names to pharmaceuticals, and shall be consistent with the corresponding
contents in the pharmaceutical approval certificates.

Article 25

The general name of a pharmaceutical shall be distinct and prominent, and the style, size and color of the characters shall conform
to the following requirements:

(1)

The general name must be indicated at a distinct position within the scope of the upper one-third part for those with horizontal labels;
and the general name must be indicated at a distinct position within the scope of the right one-third part for those with vertical
labels;

(2)

No grass style, seal character or other style difficult to identify shall be used, nor shall any italic, hollow or shadow form, etc.
be used to decorate the style;

(3)

The color of the characters shall be black or white, so as to form an intense contrast with their corresponding light or dark background;
and

(4)

It shall not be written in different lines unless it is unable to be written in one line due to restriction of the package size.

Article 26

The commodity name of a pharmaceutical shall not be written with the general name in the same line, its style or color shall not be
more distinct or prominent than the general name, and the average character area size of the commodity name shall not be larger than
a half of that of the general name.

Article 27

It is prohibited to use any unregistered trademark or any other pharmaceutical name not approved by the State Food and Drug Administration
in pharmaceutical directions and labels.

Where a pharmaceutical label uses a registered trademark, the said trademark shall be printed at the border corner of the pharmaceutical
label. If any words are included, the average character area size shall not be larger than one fourth of that of the general name.

Chapter V Other Provisions

Article 28

Where a narcotic drug, psychotropic drug, toxic drug for medical use, radioactive drug, pharmaceutical for external use, or nonprescription
pharmaceutical is required by any state provision to be attached with a special mark, its directions and labels must be printed with
the prescribed mark.

Where the state has particular provisions on pharmaceutical directions and labels, such provisions shall prevail.

Article 29

The provisions on the administration of labels of traditional Chinese medicinal materials, herbal medicines for decoction shall be
separately formulated by the State Food and Drug Administration.

Article 30

Where the directions or labels of a pharmaceutical do not conform to the present Provisions, the pharmaceutical manufacturing enterprise
involved shall be penalized in accordance with the relevant provisions of the Pharmaceutical Administration Law of the People’s Republic
of China.

Chapter VI Supplementary Provisions

Article 31

The present Provisions shall come into force as of the date of June 1, 2006. The Provisions on the Administration of Pharmaceutical
Package, Label and Directions (for Trial Implementation) promulgated by the State Drug Administration on October 15, 2000 shall be
repealed simultaneously.

State Food and Drug Administration
2006-03-15

THE SPECIFICATIONS FOR SECOND-HAND AUTOMOBILE TRADE

e04243

Ministry of Commerce

Announcement No. 22, 2006 of Ministry of Commerce, on Business Criterion for Second-hand Vehicle

No. 22

In order to standardize trade for second-hand vehicles and guide related actions and in accordance with Measures for Administration
of the Circulation of Second-hand Vehicle, Business Criterion for Second-hand Vehicle is established. It is now promulgated and shall
be popularized in the industry.

Ministry of Commerce

March 24, 2006

The Specifications for Second-hand Automobile Trade

Chapter I General Principles

Article 1

These Specifications are worked out according to the Measures for Administration of Second-hand Automobile Circulation for the purposes
of regulating the service and operation of the managers of the second-hand automobile trade market and the main body of second-hand
automobile business, and the transaction of the two parties in second-hand automobile trade, clarifying transaction rules, increasing
the transparency of the transaction, safeguarding the legitimate rights and interests of the two parties in second-hand automobile
trade.

Article 2

These specifications apply to second-hand automobile trade and corresponding activities in the territory of the People’s Republic
of China.

Article 3

The principles of honest, reliable, fair and open shall be followed and the illegal activities of forcing people to buy and sell,
practicing fraud, malicious collaboration and swindling and squeezing shall be strictly forbidden.

Article 4

A manager of a second-hand automobile trade market and a main body in a second-hand automobile business shall be engaged in the business
within their own business range, shall not do business beyond the range of their business.

Article 5

A manager of a second-hand automobile trade market and a main body of a second-hand automobile business shall confirm the seller’s
identity and the legitimacy of the automobile according to following items:

The original copy of identity or the unit code certificate of the seller shall be legal and effective;

Number plate on vehicle, automobile registration certificate, driving license, sign of automobile safety and technical inspection
shall be true, lawful and effective; and

The transacted automobile is not subject to the automobile prohibited to be dealt as stipulated in the provisions of Article 23 of
the Measures for Administration of Second-hand Automobile Circulation.

Article 6

A manager of a second-hand automobile trade market and a main body of a second-hand automobileautomobile business shall verify the
sellers’ certificate of the ownership or disposal automobile business shall verify the seller’s certificate of ownership or disposal
right. The certificate of the ownership or disposal right of the automobile shall meet following requirements:

The name on automobile registration certificate, driving license shall accord with the name on the seller’s identity. Property disposal
certificate shall be attached for the automobile sold by the state agency and state-owned enterprises or public institutions;

For the automobile to be sold on commission, the seller shall provide the owner’s Power of Attorney and identity; and

The automobile to be sold by second-hand distributing enterprises shall have the automobile purchasing certificate and relevant materials
that may prove the distributing enterprises have the ownership or disposal right of the automobile.

Article 7

To do second-hand automobile trade business shall sign a contract, clarifying corresponding responsibilities and duties. The contract
shall include: purchasing contract, selling contract, buying and selling contract, trust buying contract, trust selling contract,
trust auction, etc..

Article 8

After a transaction is concluded, both the buyer and the seller shall, according to relevant regulations of the state, apply for automobile
transferring registration to the communication administration of the public security agency by following legal certificate and evidence:

Identity of the buyer and his or her agent;

Automobile registration certificate;

Automobile driving certificate;

Uniform invoice for the sale of automobile written out by a second-hand automobile trade market, distributing enterprise and auction
company according to the regulations; and

The automobile subject to the supervision of the customs, shall provide the Certificate for the Termination of Supervision on Supervised
Automobile of the People’s Republic of China.

Automobile transferring registration shall be fulfilled within the period stipulated by relevant policies and regulations of the state,
and given clear indication in the trade contract.

After the transferring registration, a buyer shall, according to the relevant regulations of the state, by new automobile registration
certificate and driving license, go through the change formalities for automobile purchasing tax and road toll in relevant department..

Article 9

A second-hand automobile shall be dealt in the area that the automobile was registered. The transferring registration formalities
for a second-hand automobile shall be handled in the communication administration of the public security agency in the area where
the automobile was registered according to the relevant regulations of the public security agency. As for the automobile that need
to make the transferring registration in another area, the formality for transferring out shall be handled by the communication administration
of the public security agency in the area where the automobile was located, and the formality for transferring in shall be handled
by the communication administration of the public security agency in the area where the automobile will be received.

Article 10

A managers of a second-hand automobile trade market and a main body of a second-hand automobile business shall, according to the needs
of the consumers, provide relevant services, write out an invoice when collecting service fee and commission.

Article 11

A managers of a second-hand automobile trade market, distributing enterprise and auction company shall establish transaction archives.
Transaction archives shall include following content:

Copy of legal certificate and evidence as stipulated in Article 5 , Section 2 of these specifications;

Copy of original invoice of purchasing the automobile or the latest transaction invoice;

Copy of the identity of the buyer and seller or agency code certificate;

Copy of the identity of the trustee and the authorized agent or agency code certificate and power of attorney;

The original copy of transaction contract;

Automobile Information Form of the second-hand automobile distributing enterprise (see Appendix I). Automobile Auction Information
of the second-hand automobile auction company (see Appendix II) and Letter of Confirmation for the Conclusion of the Second-hand
Automobile Auction (see Appendix III); and

Other relevant materials that need to be placed on file.

The archives shall be kept for no less than three years.

Article 12

If a manager of a second-hand automobile trade market or a main body of a second-hand business find any illegal activities, such as
illegal automobile, forged license and number plate, and altering the number of the engine, automobile identifying code (frame number)
and adjusting mileage meter without permission, he, she or it shall report to relevant enforcement agency in time and have the duty
to cooperate in the investigation.

Chapter II Purchasing and Selling

Article 13

A second-hand automobile distributing enterprise shall purchase automobiles according to following requirements:

Verifying the identity of the seller and the ownership or disposal right of the automobile to be dealt and examining the legitimacy
of the automobile according to the items prescribed in article 5 and 6 of these specifications;

Decide the purchasing price with the seller through consultation. If there is any disagreement on technical status and the price of
the automobile, after the consultation of the two sides, they may trust a second-hand automobile appraising agency to appraise the
technical status and the value of the automobile. Where a purchasing intention is reached, the purchasing contract shall be signed
and, in the contract, it shall make clear that the buyer shall enjoy the disposal right of the automobile; and

Pay the automobile to the seller according to the purchasing contract.

Article 14

Before selling the automobile to the buyer, a second-hand automobile distributing enterprise shall test and repair the automobile.

For the automobile entering into the display area for sale, the second-hand automobile distributing enterprise shall fill in relevant
information according to the requirements as prescribed in the Automobile Information Form, put up it on a visible place and add
relevant information of Automobile Information Form in light of needs.

Article 15

Where selling intension for an automobile is reached, a second-hand automobile distributing enterprise shall sign selling contract
with the buyer, and enclose the Automobile Information Form as an Appendix, write out an uniform invoice manufactured under the supervision
of the taxation agency to the buyer and fill in the transaction price according to the fact.

A buyer shall, by the legal certificate and evidence as stipulated in Article 8 of these specifications, go through transferring
registration formalities in the communication administration of the public security agency.

Article 16

A second-hand distributing enterprise shall, when selling the automobile that the period for use is within 3 years or the traveling
mileage is within 60 thousand km (take which reaching first as standard), except for the commercial vehicle) provide the consumers
with quality guarantee of no less than 3 months or 5 thousand kilometers (take which reaching first as standard.). The quality guarantee
includes engine system, steering system, transmission system, brake system and suspension system.

Article 17

A second-hand automobile distributing enterprise shall, while providing after-sale service to the final consumers, provide them with
after-sale service inventory.

Article 18

A second-hand automobile distributing enterprise shall not add any other service items by

themselves without the consumers’ agreement while providing after-sale service.

Article 19

A second-hand automobile distributing enterprise shall establish archives for after-sale service. The archives for after-sale service
shall include:

Basic information of the automobiles, mainly including: the automobile’s brand and model, plate number, engine number, frame number,
date of shipment, character of use, the latest date for transferring registration, time and place for sale, etc.;

Basic information of the consumers, mainly including: the consumers’ appellation (name), address, occupation and contact information,
etc.; and

Maintenance record, mainly including: time, mileage and items of the maintenance.

The technical archives for after-sale service shall be kept for no less than 3 years.

Chapter III Broker

Article 20

A broker may be trusted for buying or selling a second-hand automobile. Trusting a broker to buy a second-hand automobile shall be
handled according to Article 21 of the Measures for Administration of Second-hand Automobile Circulation.

Article 21

A second-hand automobile agent shall, strictly according to the trust buying contract, deliver the automobile, the documents with
the automobile and the legal certificate and evidence as stipulated in Article 5 , Section 2 of these specifications.

Article 22

A broker shall accept the authorization to sell a second-hand automobile according to following requirements:

Inform the trustee in time of the market information;

Sign trust selling contract with the trustee;

Displaying the trusted automobile and taking good care of it according to the agreement of the contract, shall not use it for other
purpose; and

Shall not sell the trusted automobile at a higher or lower price without permission.

Article 23

After signing the trusted selling contract, the trustee shall hand over the automobile, the documents with the automobile and the
legal certificate and evidence as stipulated in Article 5 , Section 2 of these specifications to the second-hand automobile broker.

The automobile and commission shall be paid according to the agreement of the trust selling contract.

Article 24

For the second-hand automobile dealt through a second-hand automobile broker, an uniform invoice manufactured under the supervision
of the state taxation agency shall be written out by the manager of the second-hand automobile trade market.

Article 25

A second-hand automobile broker that has entered the second-hand automobile trade market shall sign corresponding management contract
with the manager of the trade market, subordinating himself or herself to unified control of the manager of the second-hand automobile
trade market.

Article 26

A second-hand automobile broker shall not be engaged in the second-hand broker business in the name of himself or herself.

A second-hand automobile broker shall not be engaged in buying and selling the second-hand automobiles by any means.

Article 27

A second-hand automobile broker shall not bring about any transaction by illegal means, and shall not ask the trustee for the costs
beyond the commission of the contract.

Chapter IV Auction

Article 28

To be engaged in second-hand automobile auction and corresponding intermediary service shall accord with relevant provisions of Auction
Law and Measures for Administration of Auction.

Article 29

A trustee shall, while trusting others’ to make an auction, provide identity, the certificate of the ownership and disposal right
and other corresponding materials. The auctioneer who accepts the trust shall sign trust auction contract with the trustee.

Article 30

A trustee shall provide the real technical status of the automobile. An auctioneer shall fill in the Information of the Auctioned
Automobile according to the fact.

If there is any disagreement on the technical status of the automobile, the auctioneer and trustee may, through consultation, authorize
the second-hand automobile appraising agency to appraise the automobile.

Article 31

An auctioneer shall release an auction notice seven days before the auction day. The auction notice shall be issued via newspapers
or other mass media and give clear indication to following issues:

Time and place of the auction;

Model and quantity of the auctioned automobiles;

Time and place for display of the automobiles;

The formalities about attending the auction and bidding for buying; and

Other issues that need to be noticed.

An auctioneer shall display the auctioned automobiles before the auction day and put up the Information of Auctioned Automobiles on
a visible place of the automobile. The display period shall not be less than two days.

Article 32

If an auction is carried out through internet, the color photo of the automobile and Information of Auctioned Automobile shall be
released on internet. The publication period shall not be less than seven days.

Auction on internet refers to the business activities that an auction company makes use of the internet to release auction information,
technical parameter and visual picture of the automobile, transfer the second-hand automobile to the person who gives the highest
price which is higher than the reserve price by bidding on internet and transaction under internet.

The process and formalities of the auction on internet shall be as the same as the auction on the spot. An organizer for auction on
internet shall work out rules for auction on internet according to relevant provisions of Auction Law and Measures for Administration
of Auction. The bidders shall go through the formalities for auction on internet.

Any individual or any enterprise that has not obtained the qualifications as a second-hand automobile auctioneer shall not be engaged
in the auction on internet.

Article 33

After the conclusion of an auction, the buyer and the auctioneer shall sign Letter of Confirmation for the Conclusion of the Second-hand
Automobile Auction.

Article 34

A trustee and a buyer may jointly set the commission ratio together with an auctioneer.

If a trustee and a buyer do not have any agreement with an auctioneer on the commission ratio, the commission shall be collected according
to Auction Law and Measures for Administration of Auction.

If an auction is not concluded, an auctioneer may collect service fee from a trustee according to the agreement of an auction contract.

Article 35

An auctioneer shall, after an auction is concluded and an buyer has paid all the costs, deliver the buyer the automobile, documents
with the automobile and legal certificate and evidence as prescribed in Article 5 , Section 2 of these specifications, write out
an uniform invoice for the sale of the second-hand automobile to the buyer, and fill in the transaction price according to the fact.

Chapter V Direct Trading

Article 36

A natural person who is engaged in the second-hand automobile trade shall have the ability to bear civil liability independently.
If a person has no ability to bear civil liability independently, his or her legal agent shall handle it, the legal agent shall provide
corresponding certificate.

If an agent is trusted for handling the second-hand automobile direct trade, a lawful Power of Attorney shall be signed.

Article 37

Both the two parties of the second-hand automobile trade and their agent shall provide their legal identity to the manger of the second-hand
automobile trade market, and give the legal certificate and evidence as prescribed in Article 5 , Section 2 of these specifications
to the manager of the second-hand automobile trade market for legal verification.

Article 38

The two parties of the second-hand automobile trade shall sign a buying and selling contract, fill in relevant information according
to the fact and bear corresponding legal liability.

Article 39

After a buyer of the second-hand automobile direct trade paid the automobile according to the contract, a seller shall, according
to the agreement of the contract, deliver in time the automobile and the legal certificate and evidence as prescribed in Article
5 , Section 2 of these specifications to the buyer.

If the legal certificate and evidence is complete and lawful, as well as the trade is concluded, the manager of the second-hand automobile
trade market shall, according to relevant regulations of the state, write out a uniform invoice for the sales of the second-hand
automobile, and fill in the transaction price strictly according to the fact.

Chapter VI Service and Management in the Trade Market

Article 40

A manager of the second-hand automobile trade market shall have necessary service facilities and place, establish automobile display
place, place for handling the trade formalities and the consumers’ rest place where a visible sigh will be put up and the environment
is clean. Accepting windows shall be established in the place for handling the trade formalities, on every window, the clear indication
of business range shall be given.

Article 41

A manager of s second-hand automobile trade market shall establish a visible notice board, giving clear indication of the procedures
of trade service, items and standard of the charge, and the phone number for the consumers’ looking up and supervision, etc..

Article 42

A manager of s second-hand automobile trade market shall work out the rules for administration of the market, supervising, regulating
and managing the trade activities in the market, safeguarding the sound environment and trade order in the market. For any losses
caused to the consumers due to the improper management of the market, corresponding responsibility shall be born.

Article 43

A manager of a second-hand automobile trade market shall accept and handle appropriately the consumers’ complaints in time, assisting
the consumer to retrieve the losses, safeguarding the consumers’ rights and interests.

Article 44

A manager of a second-hand automobile trade market may, while performing his or her functions of service and management, collect trade
service fee, housing service fee , etc..

Article 45

A manager of a second-hand automobile trade market shall establish strict management rules, set up firmly the consciousness of service
for the consumers and the enterprises in the market, tighten up the management of the staffs, and improve their quality. The staffs
for service and management of the market shall be on duty after obtaining the qualifications.

Chapter VII Supplementary Articles

Article 46

These specifications shall come into force as of the promulgation day.

Ministry of Commerce
2006-03-24

NOTICE OF MINISTRY OF COMMERCE ABOUT FURTHER IMPROVING THE WORK OF ATTRACTING FOREIGN CAPITAL IN LOGISTICS AREA

Ministry of Commerce

Notice of Ministry of Commerce about Further Improving the Work of Attracting Foreign Capital in Logistics Area

Shang Zi Han [2006] No.38

The competent department of commerce of all provinces, autonomous regions, municipalities directly under the Central Government, and
cities specifically designated in the state plan, and Xinjiang Production and Construction Corps.

Since 2000, according to the spirit of Circular on Relevant Issues concerning the Development of Establishment of Pilot Logistics
Foreign-funded Enterprises by the Ministry, a batch of foreign funded logistic enterprises have been established upon the approval
in all pilot areas. The expansion of pilot work has played an active action on the health development of international trade of our
country and the modern logistics industry. For further development on extending opening up to the outside world in logistic area
and promoting foreign investment on logistic enterprises on the basis of pilot, we hereby noticed as follows:

The expression “foreign investment on logistic enterprises” refers to the foreign funded enterprises whose main business activities
shall be the logistic and relevant services provided for other enterprises, including foreign funded enterprise on the road transportation,
foreign funded enterprise on waterway transportation, foreign funded enterprise on air transportation, foreign funded enterprise
on freight agency, foreign funded enterprise on commerce, foreign funded enterprise on logistic of the third party and other foreign
funded enterprises engaged in other logistic or relative business of logistics.

The foreign investor may apply to establish the foreign funded logistic enterprise to engage in one or more business of logistics
according to the Provisions on the Administration of Foreign Investment in the Road Transport Sector, Provisions on Administration
of Foreign Investment in International Maritime Transportation, Provisions on Foreign Investment in Civil Aviation, Interim Measures
for Approval and Administration concerning the Foreign Investment on Railway Freight Transportation, Administration Measures on Foreign-funded
International Freight Agency Enterprises, Measures for the Administration on Foreign Investment in Commercial Fields and other laws
and regulations on foreign investment. Thereinto when applying for more businesses of logistics, the highest condition shall be satisfied
among the qualification conditions required by every business of logistics when applied separately.

With regard to the good result on the pilot work of establishing foreign funded logistic enterprises, the foreign investor shall be
permitted to establish the foreign funded logistic enterprise with the form of joint venture, cooperative and solely-funded throughout
the country. The foreign funded logistic enterprise may be engaged in part of or all businesses prescribed in Article 5 of the Circular
upon the approval, and its minimum limitation amount of registered capital shall no longer be limited, but the foreign funded logistic
enterprise shall, according to the operation business, accordingly accord with the requirement of minimum limitation of registered
capital and other requirements prescribed by the Measures for the Administration on Foreign Investment in Commercial Fields, the
Administration Measures on Foreign-funded International Freight Agency Enterprises, the Provisions on the Administration of Foreign
Investment in the Road Transport Sector and other relevant laws and regulations on foreign investment. Except the enterprise that
shall be approved by Ministry of Commerce prescribed by the above mentioned department rules or other laws and regulations on foreign
investment, other foreign funded logistic enterprise shall be approved by the competent department of commerce at provincial level.

The competent department of commerce at all levels shall do good work on attracting foreign investment in logistic areas in accordance
with all provisions above mentioned and relevant laws and rules on foreign investment. The application materials shall be reported
to the Ministry of Commerce in the prescribed time limit when the limit of authority for approval by locality has been exceeded.

The competent department of commerce of all places that has the limits of authority for approval shall not abuse their administrative
power; with regard to the application for establishing the branch at the locality by the logistic enterprises coming from other areas,
if it accords with the legal condition, the decision of administrative permission shall be made in time.

In case any relevant provision in the Circular on Relevant Issues concerning the Development of Establishment of Pilot Logistics Foreign-funded
Enterprises (NO.615 [2002] of the Letter of the MOFTEC) by Ministry of Foreign Trade and Economic Cooperation is inconsistent with
the present Notice, the present Notice shall prevail.

The present Notice shall be implemented as of March 31, 2006.

Ministry of Commerce

April 20, 2006

Ministry of Commerce
2006-04-20

THE PASSPORT LAW OF THE PEOPLE’S REPUBLIC OF CHINA

Order of the President of the People’s Republic of China

No. 50

The Passport Law of the People’s Republic of China, which was adopted at the 21st Session of the Standing Committee of the 10th National
People’s Congress of the People’s Republic of China on April 29, 2006, is hereby promulgated and shall come into force as of January
1, 2007.
Hu Jintao, President of the People’s Republic of China

April 29, 2006

The Passport Law of the People’s Republic of China

(Adopted at the 21st Session of the Standing Committee of the 10th National People’s Congress of the People’s Republic of China on
April 29, 2006)

Article 1

The present law is formulated in order to regulate the application, issuance and management of passports of the People’s Republic
of China, guarantee the rights and interests of the citizens of the People’s Republic of China exiting and entering the People’s
Republic of China and promote the intercourse with foreign countries.

Article 2

Passports of the People’s Republic of China are the certificates, upon which the citizens of the People’s Republic of China exit
and enter China and prove their nationalities and identities when they are staying abroad.

No organization or individual may forge, alter, transfer, deliberately damage or destroy, or illegally hold or detain any passport.

Article 3

Passports are classified into ordinary passports, diplomatic passports and service passports.

The passport shall be recommended by the Ministry of Foreign Affairs to foreign governments through the diplomatic channel.

Article 4

Ordinary passports shall be issued by the exit/entry administrative departments of the Ministry of Public Security or the exit/entry
administrative departments of the public security organs of the local people’s governments at or above the county level as authorized
by the Ministry of Public Security, and the embassies or consulates stationed abroad of the People’s Republic of China or other institutions
stationed abroad upon the authorization of the Ministry of Foreign Affairs.

Diplomatic passports shall be issued by the Ministry of Foreign Affairs.

Service passports shall be issued by the Ministry of Foreign Affairs, the embassies or consulates stationed abroad of the People’s
Republic of China or other institutions stationed abroad upon the authorization of the Ministry of Foreign Affairs, and the foreign
affair departments of the people’s governments of the provinces, autonomous regions, municipalities directly under the Central Government
and districted cities upon the authorization of the Ministry of Foreign Affairs.

Article 5

Where a citizen goes abroad for residence, visiting relatives, study, employment, travel, business activities or other non-official
service reasons, he shall file an application with the exit/entry administrative department of the public security organ of the local
people’s government at the county level or above where his own permanent residence is located.

Article 6

When applying for an ordinary passport, a citizen shall submit his own resident identity certificate, residence register, recent
full-face photos without hat and materials related to the reasons for the application. Where a state functionary applies for an ordinary
passport for any reason as prescribed in Article 5 of the present law, he shall additionally submit the relevant certification documents
according to the relevant provisions of the state.

The exit/entry administrative department of the public security organ shall issue an ordinary passport within 15 days after receiving
the application materials. If it disapproves the issuance of a passport since that the application materials do not meet the relevant
provisions, it shall give the applicant a written explanation and inform him of his right to apply for an administrative review or
to lodge an administrative lawsuit.

In a remote region or area without convenient traffics, or under special circumstances, if it is unable to issue a passport within
the time limit, the time limit may be extended to 30 days upon the approval of the principal of the passport issuance department.

Where a citizen requests for going through the relevant formalities urgently for obtaining a passport at an earlier date due to any
reasonable emergency, the exit/entry administrative department of the public security organ shall fulfill the relevant formalities
timely.

Article 7

The items registered on an ordinary passport shall include the name, gender, birth date and birth place of the passport holder, as
well as the issuance date, valid period, issuance place and issuance organ of the passport.

The valid period of an ordinary passport shall be five years for a holder under the age of 16, and be ten years for a holder at or
above the age of 16.

The detailed measures for the issuance of ordinary passports shall be formulated by the Ministry of Public Security.

Article 8

Diplomatic officials, consular officials and their accompanying spouses and minor children, and diplomatic messengers shall hold
and use diplomatic passports.

The personnel dispatched by the Chinese Government to the embassies or consulates stationed abroad of the People’s Republic of China,
or to the United Nations, the special agencies of the United Nations and other international inter-governmental organizations, as
well as their accompanying spouses and minor children shall hold and use service passports.

Where any citizen other than those as prescribed in the preceding 2 paragraphs goes abroad to execute any official business, his working
entity shall file an application with the department of foreign affairs according to the provisions of the second and the third paragraphs
of Article 4 of the present law. And the department of foreign affairs shall, in light of actual demands, issue a diplomatic passport
or service passport.

Article 9

The items registered on a diplomatic passport or service passport shall include the name, gender, birth date and birth place of the
passport holder, as well as the issuance date, valid period and issuance organ of the passport.

The issuance scope, issuance measures and valid period of diplomatic passports and service passports, and the detailed categories
of service passports shall be formulated by the Ministry of Foreign Affairs.

Article 10

Where any passport holder modifies any of the items registered on the passport, he shall, upon the strength of relevant certification
materials, file an application with the issuance organ for modifying the passport or adding a note to the passport.

Article 11

Under any of the following circumstances, the passport holder may apply for changing the passport for a new one or reissuing a passport
according to relevant provisions:

(1)

The valid period of the passport will expire soon;

(2)

The visa pages of the passport will be used up;

(3)

The passport is damaged or destroyed and it cannot be used any more;

(4)

The passport is lost or stolen; or

(5)

Other circumstances under which it is justifiable to change or reissue a passport.

When applying for changing an ordinary passport for a new one or reissuing a ordinary passport, the passport holder, if within China,
shall file an application with the exit/entry administrative department of the public security organ of the local people’s government
at the county level or above where his permanent residence is located; if outside China, he himself shall file an the application
with the embassy or consulate stationed abroad of the People’s Republic of China, or with any other institution stationed abroad
upon the authorization of the Ministry of Foreign Affairs. Where a Chinese citizen, who resides abroad, after returning to China,
applies for changing an ordinary passport for a new one or reissuing a new one, he himself shall file an application with the exit/entry
administrative department of the public security organ of the local people’s government at the county level or above where his temporary
abode is located.

The change or reissue of a diplomatic passport or service transport shall accord with the relevant provisions of the Ministry of Foreign
Affairs.

Article 12

A passport shall be readable either by human eyesight or by machine.

The anti-counterfeiting performance of a passport shall be made by referring to the international technical standards.

The passport issuance departments and their functionaries shall keep the personal information of the citizens confidential that they
have accessed to when making or issuing passports.

Article 13

Under any of the following circumstances, the passport issuance departments shall not issue any passport to the applicant:

(1)

He does not have the nationality of the People’s Republic of China;

(2)

He is unable to prove his identity;

(3)

He cheats during the process of application;

(4)

He has been sentenced to any criminal punishment and is serving the sentence at present;

(5)

He is not permitted to leave China because the people’s court has notified him of any pending civil case;

(6)

He is a defendant or criminal suspect of a criminal case; or

(7)

The competent organ of the State Council believes that his leaving China will do harm to the state security or result in serious
loss to the benefits of the state.

Article 14

In case an applicant is under any of the following circumstances, the passport issuance departments shall not issue to him any passport
within 6 months to 3 years as of the day when he completes the criminal punishment or he is repatriated to China:

(1)

He is sentenced to any criminal punishment due to his hindering the administration of national border (frontier); or

(2)

He is repatriated to China due to his illegal leaving from China, illegal dwelling or illegal employment overseas.

Article 15

The people’s courts, people’s procuratorate, organs of public security, organs of state security, organs of administrative supervision
may, in light of the needs for handling cases, detain the passports of the parties concerned in the cases.

Where a party concerned in a case refuses to hand in his passport, the state organs as prescribed in the preceding paragraph may propose
the passport issuance department to announce the invalidation of the passport of the party concerned.

Article 16

Where a passport holder loses his nationality of the People’s Republic of China, or the passport of the holder is lost or stolen,
the passport shall be announced to be invalidated by the passport issuance department.

The passport, which is fabricated, altered, obtained by cheating, or announced invalid by the issuance organ, shall be invalid

Article 17

Where any person obtains a passport by cheating, the passport shall be taken over by the passport issuance department or be announced
invalid. The organ of public security shall give him a fine not less than 2, 000 Yuan but not more than 5, 000 Yuan. If any crime
is constituted, he shall be subject to criminal liabilities.

Article 18

Where any person offers to others any fabricated or altered passport, or sells any passport, he shall be subject to criminal liabilities.
If the circumstance is not serious enough to make him subject to criminal liabilities, the public security organs shall confiscate
his illegal gains, detain him for not less than 10 days but not more than 15 days, and impose a fine upon him not less than 2, 000
Yuan but not more than 5, 000 Yuan. The illegal passports as well as the printing and production equipments shall also be taken over
by the public security organs.

Article 19

Where a person exits/ enters the national border (frontier) by holding a fabricated or altered passport or by holding the passport
of another person, he shall be punished by the public security organs according to the laws and provisions on exit/entry administration,
and the illegal passport shall be taken over by the public security organs.

Article 20

Where any functionary of a passport issuance department commits any of the following acts during the process of handling a passport,
he shall be imposed upon an administrative sanction. If any crime is constituted, he shall be subject to criminal liabilities:

(1)

Failing to accept an application that he should have accepted;

(2)

Without any justifiable reason, not issuing a passport within the statutory time limit;

(3)

Charging any fee beyond the criterions as prescribed by the state;

(4)

Extorting or accepting bribes from any applicant;

(5)

Impairing the legitimate rights and interests of any citizen due to leaking the personal information of the citizen that he has accessed
to when making or issuing a passport; or

(6)

Other acts such as abusing his power, neglecting his duties, seeking private benefits and so on.

Article 21

Ordinary passports shall conform to the format as prescribed by the Ministry of Public Security and be made under the supervision
of the Ministry of Public Security. Diplomatic passports and service passports shall conform to the formats as prescribed by the
Ministry of Foreign Affairs and shall be made under the supervision of the Ministry of Public Security.

Article 22

The passport issuance departments may collect the costs of passports and the note fees for passports. The costs of passports and
the note fees charged shall be turned over to the state treasury.

The criterions on the costs of passports and the note fees shall be prescribed and announced by the pricing administrative department
of the State Council jointly with the finance department of the State Council.

Article 23

As for a citizen whose passport is lost, stolen, destroyed or damaged while he stays abroad for a short period, he shall file an
application for a travel certificate with the embassy or consulate stationed abroad by of the People’s Republic of China or with
any other institution stationed abroad upon the authorization of the Ministry of Foreign Affairs.

Article 24

A citizen, who engages in border trade, border traveling service or participates in border travel, may file an application for a
exit/entry pass with the exit/entry administrative department of the public security organ of the local people’s government at or
above the county level upon the authorization of the Ministry of Public Security.

Article 25

A citizen, who exits and enters the national border and works in a foreign ship as a seaman, shall file an application for a seaman
certificate of the People’s Republic of China with the maritime administrative department upon the authorization of the Ministry
of Communications.

Article 26

The present law shall come into force as of January 1, 2007. The passports issued prior to the implementation of the present law
shall remain valid during their respective valid periods.

The Standing Committee of the National People’s Congress
2006-04-29

TRANSACTION STANDARDS OF SHENZHEN STOCK EXCHANGE

Circular of Shenzhen Stock Exchange concerning Promulgating the Transaction Standards of Shenzhen Stock Exchange

All the member entities:

The Transaction Standards of Shenzhen Stock Exchange upon approval of China Securities Regulatory Commission (CSRC) are herby promulgated,
and the related matters concerning the implementation thereof are notified as follows:

The Transaction Standards of Shenzhen Stock Exchange shall go into effect as of July 1, 2006, and the Transaction Standards of Shenzhen
and Shanghai Stock Exchanges promulgated on August 31, 2001 shall be abolished at the same time.

II.

This Exchange will, temporarily, not accept the declaration by the conclusion of transactions at the best five prices and in real
time and the cancellation of remaining orders, the declaration by the conclusion of transactions in real time and the cancellation
of orders, and the declaration by the conclusion of transactions in full amount or the cancellation of orders mentioned in Article
3 .4.4 of the Transaction Standards of Shenzhen Stock Exchange at present, and this Exchange shall give further notice about the
time for accepting the aforesaid three market orders.

Shenzhen Stock Exchange

May 15, 2006

Transaction Standards of Shenzhen 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, these Rules are instituted in accordance with the Securities Law of the Peoples Republic of
China and other laws, administrative regulations, ministerial rules and the Articles of Association of Shenzhen Stock Exchange.

1.2

The transactions concerning the listed securities and their derivatives (hereinafter referred to as securities) of Shenzhen Stock
Exchange (hereinafter referred to as this Exchange) shall comply with these Rules.

Any matter that has not been prescribed in these Rules shall comply with other related provisions of this Exchange.

1.3

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

1.4

The transactions of investors shall comply with the laws, administrative regulations, ministerial rules and the related business
operational rules 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 approval of the China Securities
Regulatory Commission(referred to as the CSRC herein after).

Chapter II Trading Market

Section 1 Trading Places

2.1.1

This Exchange will provide trading places and facilities for the securities transactions. The trading places and facilities consist
of the exchange server, trading hall, trading seats, offering system and related communications systems, etc.

2.1.2

Approved by this Exchange, any member may declare by the traders assigned to the trading hall by it.

Without the special approval of this Exchange, those allowed to enter into the trading hall shall be limited to the persons as follows:

(1)

The registered traders; and

(2)

The personnel for supervision of the hall.

2.1.3

This Exchange will manage the trading competence of the members, and the concrete measures therefor shall be respectively prescribed
and go into effect after being reported to and approved by the CSRC.

Section 2 Trading Varieties

2.2.1

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 3 Trading Hours

3.1

The trading days of this Exchange are every week except Saturday and Sunday.

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

3.2

The securities are traded by means of competitive bidding, 9 to 95 every trading day shall be the time for the aggregate auction
of opening quotation; 90 to 110 and 130 to 147 shall be the time for continuous auction; and 147 to 150 shall be
the time for the aggregate auction of closing quotation.

As approved by the CSRC, this Exchange may modulate the trading hours.

3.3

If the trading is suspended because of some reasons 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

After 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, and 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 about purchase or sales to the exchange server of this Exchange by means of the offering
system, and complete the transaction in accordance with these Rules, and the 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

Any investor shall not sell the securities purchased before the delivery thereof, except that a turnaround transaction is effected.

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

3.1.5

Same-day turnaround transactions will be carried out for the bonds and T-bond 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
therefor shall be respectively prescribed by this Exchange and shall go into effect after being reported to and approved by the CSRC.

Section 2 Entrustment

3.2.1

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.

The opening of securities accounts by investors shall be conducted in accordance with the provisions of the registration and clearing
institutions designated by this Exchange.

3.2.2

A client may entrust a member to buy or sell the securities by means of the self-help entrustment methods such as letters, phone
calls, self-help terminals, and internet.

The entrustment by phone calls, self-help terminals, Internet and other self-help methods shall be conducted in accordance with the
related provisions.

3.2.3

For 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.

3.2.4

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 entrusted quantity;

(5)

The entrusted price; and

(6)

Other contents required by this Exchange and the member.

3.2.5

A client may entrust a member to buy or sell the securities by means of limit order or market order.

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

3.2.6

The uncompleted transaction as entrusted may be cancelled by a client.

3.2.7

As to the entrustment cancelled or invalidated, after making confirmation, the related capital or securities shall be returned timely
to the client by a member.

3.2.8

A member who provides the securities financing services through the securities sales for its clients shall be in accordance with
the related provisions.

Section 3 Declaration

3.3.1

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

At 90 to 95 and 147 to 150 every trading day, the exchange server of this Exchange will not accept the declarations for
the cancellation of competitive bidding, and the uncompleted transactions can be declared for cancellation at any other time for
accepting declarations. And a declaration for cancellation will not become valid without confirmation of the exchange server in this
Exchange.

At 95 to 90 every trading day, the exchange server only accepts the declarations, but will not deal with the sales declarations
or declarations for cancellation.

This Exchange can make modulation on the time for accepting the declarations of the members.

3.3.2

A member shall make declarations to this Exchange in time in accordance with the chronological order by which it accepts the entrustments
of its clients.

3.3.3

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

3.3.4

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

(1)

The declaration through the best price of the counterpart;

(2)

The declaration through the best price of this side;

(3)

The declaration through the conclusion of transactions at the best five prices and in real time and the cancellation of remaining
orders;

(4)

The declaration through the conclusion of transactions in real time and the cancellation of remaining orders;

(5)

The declaration through the conclusion of transactions in full amount or the cancellation of orders; and

(6)

Other types formulated by this Exchange.

As to a declaration through the best price of the counterpart, the best price of the counterpart listed in the book of centralized
orders when the declaration enters into the exchange server shall be the price for declaration.

A declaration through the best price of this side means that the best price of this side listed in the book of centralized orders
as the declaration entering into the exchange server shall be the price for declaration.

As to a declaration through the conclusion of transactions at the best five prices and in real time and the cancellation of remaining
orders, the price of the counterpart shall be the transaction price, the transactions shall be completed in turn in accordance with
the declaration queue of the best five prices of the counterpart in the book of centralized orders as the declaration entering into
the exchange server, as well as the part of uncompleted transactions shall be automatically cancelled.

As to a declaration through the conclusion of transactions in real time and the cancellation of orders, the price of the counterpart
shall be the transaction price, the transactions shall be completed in turn in accordance with the queue of all the declarations
of the counterpart in the book of centralized orders as the declaration entering into the exchange server, as well as the part of
uncompleted transactions shall be automatically cancelled.

As to a declaration through the conclusion of transactions in full amount or the cancellation of orders, the price of the counterpart
shall be the transaction price, if the transactions can be completed in turn in accordance with the queue of all the declarations
of the counterpart in the book of centralized orders as the declaration entering into the exchange server, the transactions shall
be completed in turn, or all the declarations shall be automatically cancelled.

3.3.5

The market orders shall only apply to the transactions of the securities with the price limit during the course of continuous auction.
During other trading hours, the exchange server will not accept the market orders.

3.3.6

When a declaration by the best price of this side entering into the exchange server, if there is no declaration of this side in the
book of centralized orders, the aforesaid declaration shall be automatically cancelled.

Where any other declaration by the market order entering into the exchange server, if there is no declaration of the counterpart in
the book of centralized orders, the aforesaid declaration shall be automatically cancelled.

3.3.7

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

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

A declaration order shall be transferred in the form prescribed by this Exchange.

3.3.8

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

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

3.3.9

The purchase of bonds by means of competitive bidding shall be declared by 10 sheets or the integral number of times of 10 sheets.
And the purchase or sales of pledge-type repurchase of bonds shall be made declaration by 10 sheets or the integral number of times
of 10 sheets.

If selling the bonds, the sales of the part less than 10 sheets shall be made declaration once and for all.

The 100 Yuan of par value of bonds shall be one sheet, and the 100 Yuan of standard coupons of pledge-type repurchase of bonds shall
be one sheet.

3.3.10

The largest amount in a single declaration of competitive stock (fund) transactions shall less than one million shares (units), and
the largest amount in a single declaration of competitive transactions of bonds or pledge-type repurchase of bonds shall less than
100,000 sheets.

3.3.11

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 100 Yuan of par value of bonds” for the bonds, and the “due annual proceeds per
100 Yuan of capital” for the pledge-type repurchase of bonds.

3.3.12

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

3.3.13

In accordance with the demands of the market, this Exchange may modulate the minimum price variance unit of the declared quantity
and price of a single declaration of securities transaction.

3.3.14

This Exchange carries out the price limit to the transactions of stocks and funds, and the fluctuating proportion shall be 10%, and
the fluctuating proportion of ST or *ST shares shall be 5%.

The formula used for the fluctuating price 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 following circumstances, the price limit shall not be carried out on the first listing day of stocks:

(1)

The initial public offering;

(2)

The listed issuance of additional shares;

(3)

The resumption of trading after the suspending of trading; or

(4)

Other circumstances recognized by this Exchange or the CSRC.

As approved by the CSRC, this Exchange may modulate the fluctuating proportion of the securities.

3.3.15

When buying or selling the securities under the price limit, the declaration under the price limit shall be valid, otherwise, it
shall be declared to be invalid.

When buying or selling the shares of middle and small enterprise board (SME Board) under the price limit, the valid declarations beyond
the scope of valid auction during the period of continuous auction can not take part in the auction in real time and shall be temporarily
deposited in the exchange server; and when the transaction price is fluctuated into the scope of valid auction, the exchange server
will automatically take out the declarations for auction.

3.3.16

When buying or selling the securities without the price limit, the declarations beyond the scope of valid auction can not take part
in the auction in real time and shall be temporarily deposited in the exchange server; and when the transaction price is fluctuated
into the scope of valid auction, the exchange server will automatically take out the declarations for auction.

3.3.17

A declaration shall be valid on the current day. If each competitive transaction declared can not be completed once and for all,
the uncompleted part may continuously take part in the auction on the current day, other than the market orders prescribed in Item
(3), (4) and (5) of Article 3 .3.4.

Section 4 Auctions

3.4.1

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 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.

3.4.2

The sales declarations that are not completed during the period for the aggregate auction of opening quotation shall automatically
enter into the continuous auction.

The sales declarations that are not completed during the period of continuous auction shall automatically enter into the aggregate
auction of closing quotation.

3.4.3

The scope of valid auction of the securities under the price limit during the period of aggregate auction shall be in line with the
scope of price limit.

The scope of valid auction of the stocks in the SME Board during the period of continuous auction shall be up and down 3% of the latest
transaction price. If the stocks are not transacted during the period for the aggregate auction of opening quotation, the scope of
valid auction shall be modulated to up and down 3% of the previous closing price when the continuous auction begins. The scope of
valid auction of other securities under the price limit during the period of continuous auction shall be in line with the scope of
price limit.

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

3.4.4

The scope of valid auction for the transactions of the securities without the price limit shall be made determination in accordance
with the methods as follows:

(1)

The scope of valid auction for the aggregate auction of opening quotation on the first listing day of stocks shall be less than 900%
of the offering price, and the scope of valid auction for the continuous auction and the aggregate auction of closing quotation shall
be up and down 10% of the latest transaction price;

(2)

The scope of valid auction for the aggregate auction of opening quotation on the first listing day of bonds shall be 30% or so of
the offering price, and the scope of valid auction for the continuous auction and the aggregate auction of closing quotation shall
be 10% or so of the last transaction price; and the scope of valid auction for the aggregate auction of opening quotation on the
non-first listing day of bonds shall be 10% or so of the previous closing price, and the scope of valid auction for the continuous
auction and the aggregate auction of closing quotation shall be 10% or so of the last transaction price; and

(3)

The scope of valid auction for the aggregate auction of opening quotation on the non-first listing day of the pledge-type repurchase
of bonds shall be 100% or so of the previous closing price, and the scope of valid auction for the continuous auction and the aggregate
auction of closing quotation shall be 100% or so of the latest transaction price.

3.4.5

If the securities without the price limit are not transacted during the period of aggregate auction of opening quotation, the scope
of valid auction thereof may be modulated in accordance with the methods as follows when the continuous auction starts:

(1)

If the highest buying price declared under the scope of valid auction is higher than the offering price or the previous closing price,
the scope of valid auction shall be modulated by taking the highest buying price declared as the benchmark; and

(2)

If the lowest selling price declared under the scope of valid auction is lower than the offering price or the previous closing price,
the scope of valid auction shall be modulated by taking the lowest selling price declared as the benchmark.

3.4.6

This Exchange may modulate the scope of valid auction of the securities in accordance with the demands of the market.

Section 5 Conclusion of Transactions

3.5.1

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

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: the former declarer shall have priority to the later
declarer if the direction of the deal and the price are the same. The sequence of declarations shall follow the time when the exchange
server accepts the declarations.

3.5.2

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

(1)

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

(2)

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)

All the transactions of either the buyer or the seller with the price in line with the aforesaid one shall be completed.

In case there are two or more aforesaid prices meeting the conditions mentioned above, the transaction price shall be the price closest
to the previous closing price.

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

3.5.3

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

(1)

If 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)

If the price upon declaration for the purchase is higher than the lowest price upon declaration for the sales in the book of centralized
auctions, the lowest price upon declaration for the sales in the book of centralized auctions shall be the transaction price; and

(3)

If the price upon declaration for the sales is lower than the highest price upon declaration for the purchase in the book of centralized
auctions, the highest price upon declaration for the purchase in the book of centralized auctions shall be the transaction price.

3.5.4

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 Rules, 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 influenced by the force majeure, accident or illegal invasion into the trading system, this Exchange
may employ proper measures or make sure the transaction as invalid.

As confirmed by this Exchange, proper measures may be employed for the clearly unfair transactions.

For the transactions that are against these Rules and will seriously destroy the normal operation of the securities market, this Exchange
has the right to make announcement on the cancellation of the transactions. And the losses that happened therefrom shall be undertaken
by the traders in violation of the rules.

3.5.5

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

3.5.6

The liquidation and delivery between the members shall be dealt with by the registration and clearing institution designated by this
Exchange.

Section 6 Block Trades

3.6.1

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

(1)

The 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 quantity of B-shares in a single transaction thereof is more than 50,000 shares, or the trading amount is more than 300,000 HK
Dollars;

(3)

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

(4)

The quantity of bonds in a single transaction thereof is more than 10,000 sheets (100 Yuan of par value for one sheet), or the trading
amount is more than 1 million Yuan;

(5)

The quantity of bonds in a single transaction of pledge-type repurchase of bonds is more than 10,000 sheets (100 Yuan of par value
for one sheet), or the trading amount is more than 1 million Yuan;

(6)

The trading amount in the aggregate one-way purchase or sales of several A-shares is more than 5 million Yuan, and of which the trading
amount of each single A-share is more than 200,000 shares;

(7)

The trading amount in the aggregate one-way purchase or sales of several funds is more than 5 million Yuan, and of which the trading
amount of each single fund is more than 1million shares; and

(8)

The trading amount in the aggregate one-way purchase or sales of several bonds is more than 5 million Yuan, and of which the trading
amount of eah single bond is more than 15,000 sheets.

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

3.6.2

This Exchange will make acceptance of the declarations for block trades at 95 to 110 and 130 to 15:30 every trading day.

3.6.3

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 for block trades shall consist of the number of the securities account, the code of the securities, the direction
of the deal, the number of seat of this side as well as other contents. Whether the price and quantity of the transaction are to
be made sure in the declaration of intent shall be determined by the declarer.

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 transaction, the seat number of the counterpart as well as other contents.

3.6.4

The transaction price of the block trade of securities under the price limit shall be made determination 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 made determination through the consultation
of both parties to the transaction based on 30% or so of the previous closing price or between the highest and lowest prices of completed
transactions on the current day.

3.6.5

Both parties to the transaction shall, after signing an agreement, make declarations 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.

3.6.6

The exchange server will implement the transaction confirmation concerning the declarations of transactions that have been completed
made by both parties to the transactions from 150to 150 every trading day.

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

3.6.7

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.

3.6.8

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 current total securities trading volume after the block trade is closed.

3.6.9

As block trades is completed every trading day, this Exchange will promulgate the names of the securities, the trading volume, the
transaction price of block trades, and the name of the business department or seat of the member where both the buyer and the seller
make their transaction.

Section 7 Transactions of T-bond Repur

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:

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

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

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.

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.

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.

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.

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

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

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.

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

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.

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.

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.

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

1...456...25 Page 5 of 25

Probate

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON PERTINENT TAX POLICIES FOR EXPORT OF PRODUCTS WITH GOLD INGREDIENTS

REGULATIONS ON THE ADMINISTRATION OF PRECURSOR CHEMICALS

ACCOUNTING STANDARDS FOR ENTERPRISES NO. 20 – BUSINESS COMBINATIONS

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON FURTHER REGULATING THE WORK FOR THE ADMINISTRATION OF KEY SOURCES OF INCOME TAX OF FOREIGN-RELATED ENTERPRISES

PROVISIONS GOVERNING PHARMACEUTICAL DIRECTIONS AND LABELS

THE SPECIFICATIONS FOR SECOND-HAND AUTOMOBILE TRADE

NOTICE OF MINISTRY OF COMMERCE ABOUT FURTHER IMPROVING THE WORK OF ATTRACTING FOREIGN CAPITAL IN LOGISTICS AREA

THE PASSPORT LAW OF THE PEOPLE’S REPUBLIC OF CHINA

TRANSACTION STANDARDS OF SHENZHEN STOCK EXCHANGE

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

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

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

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