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ANNOUNCEMENT NO. 43, 2006 OF MINISTRY OF COMMERCE ON STARTING ANTI-DUMPING INVESTIGATION ON IMPORTED SULFAMETHOXAZOLE

Announcement No. 43, 2006 of Ministry of Commerce on Starting Anti-dumping Investigation on Imported Sulfamethoxazole

[2006] No. 43

Ministry of Commerce announced an anti-dumping investigation on imported Sulfamethoxazole originating in India (hereinafter referred
to as “investigated product “) on June 16, 2006.

In respond to an appeal from domestic industry on April 21, 2006, Ministry of Commerce examined related issues and evidence. Since
the examination shows the appeal is in line with Article 11 , 13 and 17 and includes related contents and evidence of Article 14
and 15 of Anti-dumping Regulations of the People’s Republic of China, Ministry of Commerce decided to start an anti-dumping investigation
on the investigated product as of June 16, 2006.

1.

The period of dumping investigation is from January 1, 2005 to December 31, 2005. The period of industry injury investigation is
from January 1, 2002 to December 31, 2005.

2.

The investigated product is classified under Tariff No. 29350030 in Customs Tariff of Import and Export of the People’s Republic
of China.

3.

Interested parties can apply to Bureau of Fair Trade for Imports and Exports or Bureau of Industry Injury Investigation of Ministry
of Commerce for responding to the charges within 20 days as of the date the Announcement is issued.

At the same time, the related exporters and producers should provide the quantity and amount of the product exported to mainland China
during January, 2005 to December, 2005. Registration Form on Dumping Investigation can be downloaded from

https://gpj.mofcom.gov.cn.

Besides, the interested parties should provide explanation materials on production capacity, output, storage, construction plans,
and quantity and amount of the product exported to mainland China during the period of investigation on injury to domestic industry.
Registration form on Industry Injury Investigation can be downloaded from https://www.cacs.gov.cn.

4.

If the interested parties are not registered responding to charges within the fixed time limit, Ministry of Commerce shall have the
right to refuse their materials and make adjudication according to the available materials.

5.

Interested parties can submit their written opinions to Ministry of Commerce in 20 days as of the date when the Announcement is issued
if they have objections to the qualifications of the applicants, the investigated products, investigation range and other issues.

Interested parties can look up the unclassified version of the application handed in by the applicants at Open Information Look-up
Office of Ministry of Commerce during the above-mentioned period.

6.

Investigation measures can be conducted by questionnaire, sampling, hearing and examination on the spot.

7.

The investigation begins on June 16, 2006 and last 1 year normally. In case of special situation, it could be extended to December
16, 2007.

8.

Address of Ministry of Commerce:

Address: No. 2, DongChangAn St., Beijing

Postcode: 100731

Bureau of Fair Trade for Imports and Exports:

Tel: 86-10-65197354, 65198497, 65198740

Fax: 86-10-65198172, 65198164

Bureau of Industry Injury Investigation:

Tel: 86-10-65198184, 65198190, 65198070

Fax: 86-10-65197583

Ministry of Commerce

June 16, 2006



 
Ministry of Commerce
2006-06-16

 






CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION CONCERNING PRINTING AND DISTRIBUTING THE PROTOCOL TO THE AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF MAURITIUS ON THE AVOIDANCE OF DOUBLE TAXATION AND GETTING PREPARED FOR ITS IMPLEMENTATION

Circular of the State Administration of Taxation concerning Printing and Distributing the Protocol to the Agreement between the Government
of the People’s Republic of China and the Government of the Republic of Mauritius on the Avoidance of Double Taxation and Getting
Prepared for Its Implementation

Guo Shui Han [2006] No. 833

The bureaus of state taxes and those of local taxes of each province, autonomous region, municipality directly under the Central Government,
and city specially designated in the state plan:

The Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income between the Chinese
Government and government of the Republic of Mauritius was formally subscribed by Xie Xuren, Director of the State Administration
of Taxation of China, and Mr. Paul R. Lit Fong Chong Leung, Ambassador of Mauritius to China, in Beijing on September 5, 2006. After
both contracting states have completed their respective legal procedures the Agreement shall be effective. The text of the Agreement
is hereby printed and distributed to you. Please prepare well before the carrying out of the Agreement.

Appendix: The Agreement between the Government of the People’s Republic of China and the Government of the Republic of Mauritius on
the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income

State Administration of Taxation

September 8th, 2006
Appendix:
The Agreement between the Government of the People’s Republic of China and the Government of the Republic of Mauritius concerning
the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income

The Government of the People’s Republic of China and the Government of the Republic of Mauritius, desiring to conclude a protocol
to make revision on the Agreement between the Government of the People’s Republic of China and the Government of the Republic of
Mauritius on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income (hereinafter referred
to as “Agreement”) concluded in Beijing on August 1, 1994, have agreed as follows:

Article 1 .

1.

The following paragraph shall be added in Article 13 in the Agreement as Paragraph 5:

“5. The gains reaped by a resident of a contracting party out of transferring stocks, any other kind of interest in companies or other
rights held in a resident company of the other contracting party may be taxed in that other contracting state if the person has once
directly or indirectly participated in the ownership of at least 25% of the capital of this company within 12 months.”

2.

Paragraph 5 in Article 13 of the original Agreement shall be canceled and taken place by the following Paragraph:

“6. The gains reaped out of the alienation of the properties except those as specified in paragraphs from 1 to 5 shall only be taxed
in the contracting state of which the alienator is a resident.”

Article 2 .

Article 26 of the original Agreement shall be canceled and taken place by the following Article:

“Article 26 Exchange of Information

1.

The competent authorities of the contracting states shall exchange the intelligence which may be foreseen to be related with the carrying
out of the provisions of this Agreement or of the domestic laws concerning various kinds of taxes levied by the contracting states
or their local authorities, insofar as the taxation thereunder is not contrary to this Agreement. The exchange of intelligence shall
not be restricted by Article 1 and Article 2 .

2.

Any intelligence received by a contracting state in accordance with Paragraph 1 shall be treated as secret in the same manner as intelligence
obtained according to the domestic laws of that contracting state and shall be informed only to the persons or authorities (including
courts and administrative departments) and their supervision departments concerning the assessment, collection, enforcement, prosecution
or appeal judgment of the taxation categories as indicated in Paragraph 1. Such persons or authorities shall use the intelligence
only as purposes like these, but may disclose the intelligence in public court proceedings or in court judgments.

3.

The provisions of Paragraph 1 and Paragraph 2 shall be understood as imposing the following obligations on a contracting state on
no condition:

(1)

Administrative measures in violation of the laws and administrative practices of that or of the other contracting state should be
taken;

(2)

Providing intelligence that is not available according to the laws or through the normal administrative courses of that or of the
other contracting state;

(3)

Providing intelligence that would disclose any trade, business, industrial, commercial, or professional secret or trade process, or
any intelligence the disclosure of which would in violation of public policy (public order).

4.

Where a contracting state requests for intelligence subject to the present Article, the other contracting party shall obtain the intelligence
requested in the manner of information acquisition, even the other contracting party may do not need such intelligence for the purposes
of taxation . The obligation defined in the front sentence shall be restricted by Paragraph 3, but the restriction shall be understood
on no condition as allowing a contracting state to refuse to provide such intelligence because it has no domestic benefits.

5.

The provision of Paragraph 3 shall be understood on no condition as allowing a contracting state to refuse the provision of such intelligence
only because the intelligence is possessed by any bank, any other financial institution, designated representative, agent or trustee,
or because the intelligence in respect of people’s ownership equity.”

Article 3 .

The governments of the contracting states shall confirm the completion of their respective legal procedures which is indispensable
to entry into force of this Protocol through diplomatic exchange of letters. This Protocol shall go into effect as of the date a
later letter is sent, and shall apply to:

(1)

As regards China, the gains derived during the taxable years beginning on or after the first day of January of the next year following
the year in which the present Arrangement goes into effect;

(2)

As regards Mauritius, the gains derived during the taxable years beginning on or after the first day of July of the next year following
the year in which the present Arrangement goes into effect.

Article 4 .

This Protocol shall be valid permanently with the Agreement.

In witness whereof the undersigned, the following representatives, as officially authorized, have signed on this Protocol.

This Protocol was signed in Beijing on September 5, 2006. It is in duplicate and is written in Chinese and English. In case any divergence
as to the interpretation of the text arises, the English version shall prevail.

Government of People’s Republic of China Government of the (Representative)

Xie Xuren

Republic of Mauritius

(Representative)

Mr. Paul R. Lit Fong Chong Leung



 
State Administration of Taxation
2006-09-08

 






THE QUANTITY, THE APPLICATION CONDITIONS AND THE PRINCIPLE OF THE DISTRIBUTION OF THE IMPORT TARIFF QUOTAS OF GRAIN AND COTTON OF 2007

Announcement of National Development and Reform Commission

No. 64

“The Quantity, Application Conditions and Principle of the Distribution of the Import Tariff Quotas of Grain and Cotton” of 2007 is
formulated in accordance with the “Interim Measures for Administration of Tariff Quota of Import of Agricultural Products” and is
hereby promulgated.

Appendix: The Quantity, Application Conditions and Principle of the Distribution of the Import Tariff Quotas of Grain and Cotton in
2007

National Development and Reform Commission of PR. China

September 18, 2006

The Quantity, the Application Conditions and the Principle of the Distribution of the Import Tariff Quotas of Grain and Cotton of
2007

According to the “Interim Measures for the Administration of the Import Tariff Quotas of Agricultural Products” (Decree No.4 of the
Ministry of Commerce and the National Development and Reform Commission of 2003), issues concerning the quantity, the application
conditions and the principle of the distribution of the import tariff quotas of grain and cotton of 2007 are hereby promulgated as
follows:

1,

The quantity of the import tariff quotas of grain and cotton of 2007 is: 9.636 million tons of wheat, of which the state-run trade
reaches 90%; 7.2 million tons of corn, of which the state-run trade reaches 60%; 5.32 million tons of rice (among which: 2.66 million
tons of long-grain rice, 2.66 million tons of medium-and-short-grain rice), of which the state-run trade reaches 50%; 8.94 tons of
cotton, of which the state-run trade reaches 33%.

2,

Any enterprise that imports the aforesaid agricultural products in such trade forms as general trade, processing trade, barter trade,
small amount of border trade, assistance, donation, shall apply for the import tariff quotas of agricultural products, and handle
the formalities of Customs clearance by virtue of the certificate of the import tariff quotas of agricultural products. The products
entering bonded warehouses, bonded areas and export-oriented processing areas from abroad, shall be exempted from applying for the
certificate of the import tariff quotas of agricultural products.

3,

The fundamental conditions of the applicant who applies for the import tariff quotas of agricultural products are: Having registered
with the administration for industry and commerce of the state (a copy of the business license of the enterprise as a legal person
is required); Having good financial situation and tax payment record (it is necessary to provide relevant materials of 2005and 2006);
having no violation record in the field of the customs, industry and commerce, taxation, as well as inspections and quarantines from
2004 to 2006; having passed the annual examination of enterprises of 2005; committing no violation of the “Interim Measures for the
Administration of the Import Tariff Quota of Agricultural Products”.

On the premise of the above-mentioned conditions, the applicant of import tariff quotas shall also conform to one of the following
conditions:

(1)

. Wheat

(a)

State-run trade enterprise

(b)

Enterprise directly under the Central Government that has the function of national reserves;

(c)

Enterprise with actual achievements in import in 2006;

(d)

Manufacturing enterprise processing more than 400 tons of wheat every day; or

(e)

Enterprise which is engaged in processing trade in which wheat is taken as raw materials, and which has no actual achievements in
import in 2006, but is enpost_titled to operate the import and export business and has obtained the certificate of the productive capacity
of processing trade issued by the local competent department of foreign trade and economic cooperation.

(2)

. Corn

(a)

State-run trade enterprise;

(b)

Enterprise directly under the Central Government that has the function of national reserves;

(c)

Enterprise with actual achievements in import in 2006;

(d)

Mixed fodder manufacturing enterprise that takes corn as raw materials and has an annual demand of more than 50 thousand tons of
corn;

(e)

Other manufacturing enterprise that takes corn as raw materials and has an annual demand of more than 100 thousand tons of corn;
or

(f)

Enterprise which is engaged in processing trade in which wheat is taken as raw materials, and which has no actual achievements in
import in 2006, but is enpost_titled to operate in the import and export business and has obtained the certificate of the productive capacity
of processing trade issued by the local competent department of foreign trade and economic cooperation.

(3)

. Paddy and rice (respective application for long-grain rice and medium-and-short-grain rice is required)

(a)

State-run trade enterprise;

(b)

Enterprise directly under the Central Government that has the function of national reserves;

(c)

Enterprise with actual achievements in import in 2006;

(d)

Enterprise which has grain wholesale and retail qualifications and whose annual sale amount is more than 100 million RMB;

(e)

Trade enterprise whose annual amount of import and export grain is more than 25 million US dollars; or

(f)

Enterprise which is engaged in processing trade in which paddy and rice are taken as raw materials, and which has no actual achievements
in import in 2006, but is enpost_titled to operate in the import and export business and has obtained the certificate of the productive
capacity of processing trade issued by the local competent department of foreign trade and economic cooperation.

(4)

. Cotton

(a)

State-run trade enterprise;

(b)

Enterprise with actual achievements in import in 2006; or

(c)

Cotton and textile enterprise with more than 50 thousand ingots of weaving equipments;

4,

The import tariff quotas of the above-mentioned agricultural products will be distributed in accordance with the applicant’s application
quantities, historic actual achievements in import, productive capacity, and other relevant commercial standards.

(1)

. If the quantity of the import tariff quotas may satisfy the overall application quantity of the eligible applicants, the quantity
of the import tariff quotas shall be distributed according to the applicant’s application quantity.

(2)

. If the quantity of the import tariff quotas can not satisfy the overall application quantity of the eligible applicants, the applicants
with actual achievements in import may have priority in obtaining quotas, while the applicants without actual achievements in import,
mainly based on their processing capacity or operation quantity, shall be distributed the import tariff quotas in proportion. If
the application quantity is less than the quantity distributed in proportion, the distribution shall accord with the application
quantity.

5,

The date of application of the import tariff quotas of grain and cotton in 2007 shall be from October 15 to October 30, 2006. The
applicants may obtain the “application form of the import tariff quotas of agricultural products” (See the appendix) from the institution
entrusted by the National Development and Reform Commission or download it in the website of the National Development and Reform
Commission (https://www.ndrc.gov.cn), and shall fill it in truthfully.

6,

The institution entrusted by the National Development and Reform Commission shall be responsible for accepting enterprises’ applications
within its territory, and submit the applications that conform to the publicly announced conditions to the National Development and
Reform Commission prior to November 30, 2006. At the same time, a copy of aforesaid application shall be submitted to the Ministry
of Commerce.

7,

The National Development and Reform Commission shall distribute the import tariff quotas of agricultural products to the final users
via the entrusted institutions prior to January 1, 2007.

Appendix: the Application Form of the Import Tariff Quotas of Agricultural Products



 
National Development and Reform Commission
2006-09-18

 






ANNOUNCEMENT NO.5, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA

General Administration of Customs

Announcement No.5, 2006 of the General Administration of Customs of the People’s Republic of China

[2006] No.5

In accordance with regulations of Anti-dumping Regulations of People’s Republic of China, Tariff Committee of the State Council decided
to impose anti-dumping duties on cyclic dimethyl siloxane originating from Japan, the United States, Britain and Germany as form
Jan 16, 2006. Ministry of Commerce released Ministry of Commerce Announcement No.123, 2005 (hereinafter referred to as Ministry of
Commerce Announcement No.123) exactly on the day of Jan 16, 2006. In accordance with regulations of Anti-dumping Regulations of People’s
Republic of China, General Administration of Customs released General Administration of Customs Announcement No.3, 2006 (hereinafter
referred to as General Administration of Customs Announcement No.3) on implementation of Ministry of Commerce Announcement No.123
subsequently.

Since General Administration of Customs adjusted the 10-digit commodity codes of related cargoes of Ministry of Commerce Announcement
No.123, related matters on anti-dumping measures on cyclic dimethyl siloxane are now announced as follows for complementary:

1.

As form release of this announcement, when going through declaration formalities of cyclic dimethyl siloxane under tariff items of
29310000 and 38249090, consignees of imported cargoes should substitute 2931000050 for 2931000022 in case of any compound of D3,
D4, D5 and D6 described in Ministry of Commerce Announcement No.123.

2.

Besides above adjustments on commodity codes declaration, please follow General Administration of Customs No.3 for implementation
of other affairs related to anti-dumping duties of cyclic dimethyl siloxane originating from Japan, the United States, Britain and
Germany.

General Administration of Customs

Jan 27, 2006



 
General Administration of Customs
2006-01-27

 






MINISTRY OF COMMERCE ANNOUNCEMENT NO.7, 2006 ON FINAL ARBITRATION ON BENZOFURANOL

Ministry of Commerce

Ministry of Commerce Announcement No.7, 2006 on Final Arbitration on Benzofuranol

[2006] No.7

On August 12, 2004, in accordance with Anti-dumping Regulations of People’ Republic of China, Ministry of Commerce issued an announcement
to start anti-dumping investigation on imported Benzofuranol originating from Japan, EU and the U.S. (hereinafter referred to as
“investigated product”).

Ministry of Commerce issued the preliminary determination on June 16, 2005, confirming that dumping of the investigated product had
taken place and it had caused material injury to China’ domestic industries, and there was a causal relationship between the dumping
and the injury.

As the final arbitration, Ministry of Commerce decided to impose anti-dumping duties on the investigated product. Customs Tariffs
Committee of the State Council will levy anti-dumping duties on the investigated product as of February 12, 2006.

The investigated product is listed under No. 29329910 in the Import and Export Tariffs of the People’ Republic of China.

The anti-dumping duty rates levied on the related companies are listed as follows:

Companies of U.S.:

1.

FMC: 44%

2.

All Others: 113.2%

Companies of Japan: 113.2%

Companies of EU: 113.2%

FMC of the U. S. and ￿￿￿ũҩ￿ʽ￿￿ has signed Prices Commitment Protocol with Ministry of Commerce of PRC (see Appendix 2 & 3),
which shall take effect with this Final Arbitration.

Importers shall, while importing Benzofuranol originating from Japan, EU and the U.S. as of February 12, 2006, pay relevant anti-dumping
duties to General Administration of Customs of PRC. Anti-dumping Duty= Customs Tax Payment Price * Anti-dumping Duty Rate.

The levy of anti-dumping duties on imported Benzofuranol originating from Japan, EU and the U.S. will last 5 years as from February
12, 2006.

The relevant interested parties could apply, in written forms, to the Ministry of Commerce for an interim review during the levy of
anti-dumping duties in accordance with Article 49 of Anti-dumping Regulations of People’ Republic of China.

The relevant interested parties, disagreed with the final arbitration or the levy of the anti-dumping duties, could apply for an administrative
reconsideration or lawsuit in accordance with Article 53 of Anti-dumping Regulations of People’ Republic of China.

Ministry of Commerce

February 12, 2006



 
Ministry of Commerce
2006-02-12

 






ACCOUNTING STANDARDS FOR ENTERPRISES NO. 13 – CONTINGENCIES

The Ministry of Finance

Accounting Standards for Enterprises No. 13 – Contingencies

Cai Kuai [2006] No.3

February 15, 2006

Chapter I General Provisions

Article 1

These Standards are formulated in accordance with the Accounting Standards for Enterprises – Basic Standards for the purpose of regulating
the recognition and measurement of Contingencies, and the disclosure of relevant information.

Article 2

The term ” Contingencies” refers to the conditions that formed by past transactions or events, and the outcome of which will be confirmed
only by the occurrence or non-occurrence of future events.

Article 3

Other accounting standards shall apply to the Contingencies formed by events such as employee wages and salaries, construction contracts,
income taxes, business combination, leases, original insurance contracts, and re-insurance contracts.

Chapter II Recognition and Measurement

Article 4

The obligation pertinent to a Contingencies shall be recognized as an estimated debts when the following conditions are satisfied
simultaneously:

(1)

That obligation is a current obligation of the enterprise;

(2)

It is likely to cause any economic benefit to flow out of the enterprise as a result of performance of the obligation; and

(3)

The amount of the obligation can be measured in a reliable way.

Article 5

The estimated debts shall be initially measured in accordance with the best estimate of the necessary expenses for the performance
of the current obligation.

If there is a sequent range for the necessary expenses and if all the outcomes within this range are equally likely to occur, the
best estimate shall be determined in accordance with the middle estimate within the range.

In other cases, the best estimate shall be conducted in accordance with the following situations, respectively:

(1)

If the Contingencies concern a single item, it shall be determined in the light of the most likely outcome.

(2)

If the Contingencies concern two or more items, the best estimate should be calculated and determined in accordance with all possible
outcomes and the relevant probabilities.

Article 6

To determine the best estimate, an enterprise shall take into full consideration of the risks, uncertainty, time value of money, and
other factors pertinent to the Contingencies.

If the time value of money is of great significance, the best estimate shall be determined after discounting the relevant future outflow
of cash.

Article 7

When all or some of the expenses necessary for the liquidation of an estimated debts of an enterprise is expected to be compensated
by a third party, the compensation should be separately recognized as an asset only when it is virtually certain that the reimbursement
will be obtained. The amount recognized for the reimbursement should not exceed the book value of the estimated debts.

Article 8

Where an executory contract turns to be a loss contract, the obligation generated from the loss contract which meets the provisions
of Article 4 of these Standards shall be recognized as an estimated debts.

The term “executory contract” refers to a contract, the contractual obligations of which fail to be performed by the relevant contracting
parties, or some of the equal obligations have been performed.

The term “loss contract” refers to a contract whose performance of the contractual obligations will inevitably incur costs in excess
of the expected economic benefits.

Article 9

The future operating losses of an enterprise shall not be recognized as estimated debts.

Article 10

If a restructuring obligations undertaken by an enterprise meets the provisions of Article 4 of these Standards, it shall be recognized
as an estimated debts. The simultaneous existence of the following situations indicates that the enterprise has undertaken the restructuring
obligation:

(1)

Having a detailed and formal restructuring plan, which consists of the businesses concerning restructuring, the main places, the number
of employees to be compensated and the nature of their posts, the expected expenditure for the recombination, the execution time
of the plan; and

(2)

The restructuring plan has been proclaimed to the general public.

The term “restructuring” refers to the act of implementing a plan made and controlled by an enterprise, which may substantially change
the organizational form, business scope or operating manner of the enterprise.

Article 11

The enterprise shall determine the amount of estimated debts in the light of the direct expenditure pertinent to the restructuring.

The direct expenditure exclude the expenses for the pre-post training of the employees who stay on to work, market promotion, new
systems, marketing network, etc.

Article 12

An enterprise shall check the book value of the estimated debts on the balance sheet date. If there is any exact evidence indicating
that the book value cannot really reflect the current best estimate, the enterprise shall adjust the book value in accordance with
the current best estimate.

Article 13

Any enterprise may not recognize any contingent debts or contingent asset.

The term “contingent debts ” refers to a potential obligation caused by past transactions or events and whose existence will be confirmed
only by the occurrence or non-occurrence of uncertain future events; or refers to a current obligation caused by a past transaction
or event but is not recognized because the performance of the obligation is not likely to incur an outflow of economic benefits from
the enterprise or because the amount of the obligation cannot be measured in a reliable way.

The term “contingent asset” refers to a potential asset caused by a past transaction or event and whose existence will be confirmed
only by the occurrence or non-occurrence of uncertain future events.

Chapter III Disclosure

Article 14

An enterprise shall, in its notes, disclose the information pertinent to the Contingencies as follows:

(1)

Estimated debts

(a)

The types and causes of the estimated debts, as well as an explanation for the uncertainty of the outflow of economic benefits;

(b)

The changes at the beginning and the end of the period, and the current changes in the estimated debts;

(c)

The amount of expected compensations pertinent to the estimated debts, and the amount of excepted compensation that has been recognized
in the current period.

(2)

Contingent debts (excluding those contingent liabilities that caused little possibility of any outflow of economic benefits).

(a)

The types and causes of the contingent debts , consisting of the contingent debts arising from discounted commercial acceptance bills
of exchange, pending litigations, pending arbitrations, and guarantees provided for the debts of other enterprises;

(b)

An explanation for the uncertainty of the outflow of the economic benefits;

(c)

An estimate of the expected financial effect of the contingent debts and the possibility of any expenditure. If it is unable to make
an estimate, the reasons shall be explained.

(3)

In general, no enterprise may disclose the contingent assets. However, if a contingent asset will probably give rise to an inflow
of economic benefits to the enterprise, the enterprise shall disclose the cause, the expected financial effect, etc.

Article 15

In the case of a pending litigation or arbitration, if the disclosure of some or all information in accordance with the provisions
as prescribed in Article 14 of these Standards can be expected to produce great unfavorable impact upon the enterprise, the enterprise
shall not need to disclose the information, but shall disclose the nature of the pending litigation or arbitration as well as the
truth and reasons for the failure to disclose the information.



 
The Ministry of Finance
2006-02-15

 






NOTICE ON PRINTING AND DISTRIBUTING THE INTERIM MEASURES FOR THE INSPECTION OF EXPORTATION OF PRODUCTS OF FOREIGN-FUNDED ENTERPRISES OF THE PERMITTED CATEGORY WHOSE PRODUCTS ARE TO BE WHOLLY EXPORTED DIRECTLY

Ministry of Commerce, Ministry of Finance, General Administration of Customs, State Administration of Taxation

Notice on Printing and Distributing the Interim Measures for the Inspection of Exportation of Products of Foreign-funded Enterprises
of the Permitted Category Whose Products Are to Be Wholly Exported Directly

Shang Zi Fa [2006] No.1

To the competent departments of commerce, the public finance offices or bureaus, and the administrations of state taxation of all
the provinces, autonomous regions, municipalities directly under the Central Government, and cities under separate state planning,
as well as Xinjiang Production and Construction Corp., Guangdong Branch of the General Administration of Customs, and all customs
offices directly under the General Administration of Customs, and the financial supervisor’s offices of the Ministry of Finance at
all the provinces, autonomous regions, municipalities directly under the Central Government, and cities under separate state planning,

For the purpose of implementing the Notice on Adjusting Some Preferential Policies concerning Import Taxes (No.146 [2002] of the Ministry
of Finance), the Ministry of Commerce, Ministry of Finance, General Administration of Customs, and State Administration of Taxation
have jointly formulated the Interim Measures for the Inspection of Exportation of Products of Foreign-funded Enterprises of the Permitted
Category Whose Products Are to Be Wholly Exported Directly, which are hereby printed and distributed to you, please implement them
accordingly. In case you have any question in the process of implementation, please timely contact the relevant departments.

Ministry of Commerce

Ministry of Finance

General Administration of Customs

State Administration of Taxation

March 1, 2006 Annex:Interim Measures for the Inspection of Exportation of Products of Foreign-funded Enterprises of the Permitted Category Whose Products
Are to Be Wholly Exported Directly

Article 1

For the purpose of regulating the business operation activities of “foreign-funded enterprises of the permitted category whose products
are to be wholly exported directly”, the present Measures are formulated in pursuant to the requirements of the Notice on Adjusting
Some Preferential Policies concerning Import Taxes (Cai Shui[2002] No.146) of the Ministry of Finance, the former State Development
and Planning Commission, the former State Economic and Trade Commission, the former Ministry of Foreign Trade and Economic Cooperation,
General Administration of Customs, and the State Administration of Taxation, in accordance with the relevant provisions of the relevant
foreign investment laws and regulations and customs supervisions laws and regulations.

Article 2

The present Measures shall be applicable to the “foreign-funded enterprises of the permitted category whose products are to be wholly
exported directly” (hereinafter referred to as the “enterprises whose products are to be wholly exported”), namely, the foreign-funded
enterprises which are approved by the competent department for ratification and determined as “enterprises whose products are to
be wholly exported”, and enjoy tax reduction and exemption policies for importing equipment therefrom.

The present Measures shall not be applicable to the “enterprises whose products are to be wholly exported” that were established before
October 1, 2002, enterprises with the business scope of their products falling within the fields of other encouragement categories,
or any other foreign-funded enterprises.

Article 3

The inspection on exportation of products as mentioned in the present Measures shall include checking and investigation. Checking
shall refer to the inspection conducted on the exportation of products of the “enterprises whose products are to be wholly exported”
that were established after October 1, 2002 by the competent departments of commerce of all the provinces, autonomous regions, municipalities
directly under the Central Government, cities under separate state planning, and Xinjiang Production and Construction Corp. (hereinafter
referred to as the competent provincial departments of commerce) jointly with the financial supervisors’ offices of the Ministry
of Finance at the local regions, local customs offices, and the departments of state taxation (hereinafter referred to as the relevant
departments). Investigation shall refer to the inspection conducted on the exportation of products of the “enterprises whose products
are to be wholly exported” that were established before October 1, 2002 by the competent provincial departments of commerce jointly
with the relevant departments.

Article 4

The Ministry of Commerce shall be responsible for the administration of the inspection of exportation of products of the “enterprises
whose products are to be wholly exported”, and shall guide the inspection work countrywide jointly with the Ministry of Finance,
General Administration of Customs, and State Administration of Taxation. The competent departments of commerce at the provincial
level shall be responsible for the inspection on the “enterprises whose products are to be wholly exported” within their jurisdictions
jointly with the relevant departments.

Article 5

The time limit for checking shall be five years of the Gregorian Calendar from the day when the “enterprises whose products are to
be wholly exported” commence production. If these enterprises commence production after September 1 of the current year, the time
limit for checking shall be calculated from January 1 of the next year.

Article 6

Any “enterprise whose products are to be wholly exported” under the checking on its exportation of products shall submit the report
on the production, exportation, or sale of its products in the previous year (hereinafter referred to as the “Report”) in duplicate
and the customs declaration documents of import/export concerning the export products to the competent department of commerce at
the provincial level where it is located before January 31 of each year.

The report submitted by any “enterprise whose products are to be wholly exported” shall be signed by the legal representative of the
enterprise and affixed with the seal of the enterprise, and the contents of the report shall include: the name of the enterprise,
time for establishment, time for putting into production, output of the previous year, exportation conditions, whether the products
are to be sold in domestic market, and the tax payment of the enterprise in the current year, etc,. (For the detail, see the annexed
form), and shall be attached with the financial statements of the enterprise.

Article 7

The competent department of commerce at the provincial level shall make examination on the report within 60 days from the date when
it received the report jointly with the relevant departments. If the exportation of products complies with the provisions of Article
11 of the present Measures, the competent department of commerce shall, together with the local financial supervisor’s office, customs
house and department of state taxation, indicate the words of “The exportation of products complies with the facts” in the Report
submitted by the “enterprise whose products are to be wholly exported”, and affix the common seal. The competent departments of commerce
at the provincial level shall, collect the information on the examined exportation of products of the “enterprises whose products
are to be wholly exported” within their jurisdictions and report it to the Ministry of Commerce before April 15 each year,.

Article 8

The “enterprises whose products are to be wholly exported” that were established after October 1, 2002 and have accepted and passed
the annual checking shall apply for going through the relevant formalities for tax refund according to the relevant provisions within
15 days from the date when they have received the Report on the Quantity of Products for Export/Sale, which is sealed with the common
seals of the competent provincial departments of commerce and the local customs offices, administrations of state taxation, and financial
supervisor’s offices.

Article 9

The specific date of starting and ending the investigation shall be:

1.

For the “enterprises whose products are to be wholly exported” which were established and commenced production before October 1, 2002
and need continue importing equipment within the total investment after October 1, 2002, the time limit for investigation shall start
from October 1, 2002 till five years after the enterprises commenced production. If the equipment imported has not been actually
put into production and use at the time when the enterprises commenced production, the time limit for investigation on such equipment
shall be the five years after the day when the equipment imported is actually put into production.

2.

For the “enterprises whose products are to be wholly exported” which were established before October 1, 2002 but had not commenced
production, and need continue importing equipment within the total investment after October 1, 2002, the time limit for investigation
shall be five years of the Gregorian Calendar from the day when the enterprises commenced production. If the enterprises commence
production after September 1 of the current year, the time limit for checking shall be calculated from January 1 of the next year.

3.

For the “enterprises whose products are to be wholly exported” which were established before October 1, 2002 and no longer import
equipment after October 1, 2002, the time limit for investigation shall start from October 1, 2002 till five years after the enterprises
commenced production..

Article 10

The competent departments of commerce and the relevant departments at the provincial level shall make selective investigation on the
exportation of products of the “enterprises whose products are to be wholly exported” that still need investigation before the end
of March of each year. The competent departments of commerce at the provincial level shall send notice to the “enterprises whose
products are to be wholly exported”, and the enterprises that have received the notice shall submit the Report on the Quantity of
Products for Export/Sale of the enterprises in the previous year to the competent departments of commerce at the provincial level
where the enterprises are located within 15 days after receiving the notice. The contents of the report submitted and the ways of
submission shall be consistent with those of the Report on the Quantity of Products for Export/Sale as prescribed in Article 6 of
the present Measures.

The competent departments of commerce at the provincial level shall report the summary of investigation information on the “enterprises
whose products are to be wholly exported” within their jurisdictions to the Ministry of Commerce, and inform the local customs offices
of the name list of the enterprises that have not passed the investigation before May 1 each year.

Article 11

The total volume of products exported directly by the “enterprises whose products are to be wholly exported” in the previous year
shall reach 100% of the product sales revenue of the enterprises in the previous year.

Article 12

The “enterprises whose products are to be wholly exported” shall ensure that the materials submitted to the competent departments
of commerce at the provincial level are authentic and correct.

Article 13

In case any “enterprise whose products are to be wholly exported” that has enjoyed the policies of import tax refund or tax exemption
has the act of selling its products in domestic market in the inspection period afterwards due to the change of management environment
or market, it shall take initiative to apply to the local customs office for making up the import duty that has been refunded or
exempted within one month, and its refundable import duty of the current year and the following year shall not be refunded any longer.
After these procedures are gone through, it may be reduced or exempted from administrative punishment for the act of selling its
products in domestic market.

In case any “enterprise whose products are to be wholly exported” that has act of selling its products in domestic market in the inspection
period fails to apply for making up the tax within the time limit, or purposely disguises the facts or falsely reports that the exportation
of the enterprise has reached the examination standard in the Report on the Quantity of Products for Export/Sale submitted to the
competent department of commerce at the provincial level and is discovered to fail to reach the examination standard afterwards,
its refundable import duty in the current year or the following year shall no longer be refunded, and it shall be mandated to pay
the import duty that has been refunded or exempted in the previous years. The relevant departments shall impose punishment on it
for the aforesaid acts. If the enterprises sell or transfer equipments that are under customs supervision without permission, the
customs shall give them punishment.

Article 14

The competent departments of commerce at all levels and the relevant departments shall be diligent in the work of supervision and
inspection on the exportation of products of the enterprises, and shall hold on to principles and handle the problems discovered
in the checking and investigation according to the law.

Article 15

The Ministry of Commerce shall complete the inspection report of the previous year on the exportation of products of the “enterprises
whose products are wholly exported” before the end of June each year jointly with the Ministry of Finance, General Administration
of Customs, and State Administration of Taxation, and report it to the State Council.

Article 16

The power to interpret the present Measures shall remain with the Ministry of Commerce jointly with the Ministry of Finance, General
Administration of Customs, and State Administration of Taxation. The present Measures shall be come into force as of the date of
promulgation.



 
Ministry of Commerce, Ministry of Finance, General Administration of Customs, State Administration of Taxation
2006-03-01

 






ANNOUNCEMENT NO.16, 2006 OF MINISTRY OF COMMERCE AND GENERAL ADMINISTRATION OF CUSTOMS, PROMULGATING THE FOURTH BATCH OF CATALOGUE OF PROHIBITED EXPORTS






Announcement No.16, 2006 of Ministry of Commerce and General Administration of Customs, Promulgating the Fourth Batch of Catalogue
of Prohibited Exports

[2006] No. 16

In accordance with Foreign Trade Law of the People’s Republic of China and Administrative Regulations on Commodities Import and Export
of the People’s Republic of China, Catalogue of Prohibited Exports (the fourth batch) is now announced and will take effect as from
May 1, 2006.

Appendix: Catalogue of Prohibited Exports (the fourth batch)

the Ministry of Commerce

General Administration of Customs

Mar 13, 2006
Appendix:
Catalogue of Prohibited Exports (the fourth batch)




Serial number

￿￿

Serial
number

Commodity
code

Trade
name

Notes

1

250510000

Silica
sand and Quatrz sand

Commodities
under 2505 are generally called natural sand no matter they are colored up
or not, except metal sand

2

250590000

Other
trade names

 



LETTER OF CHINA BANKING REGULATORY COMMISSION CONCERNING THE APPROVAL TO JAPAN SHENZHEN BRANCH OF MIZUHO INDUSTRY BANK, LTD. TO DEAL IN RMB BUSINESS FOR NON-FOREIGN-FUNDED ENTERPRISES

Letter of China Banking Regulatory Commission concerning the Approval to Japan Shenzhen Branch of Mizuho Industry Bank, Ltd. to Deal
in RMB Business for Non-foreign-funded Enterprises

Japan Mizuho Corporate Bank, Ltd.,

The letter which was signed by Hiroshi Saito, president of your bank, and was addressed to this Commission has been received.

The following reply are hereby given to you according to the Regulation of the People’s Republic of China on the Administration of
Foreign-funded Financial Institutions (Order No. 340 of the State Council, hereinafter referred to as the Regulation) and the Detailed
Rules for the Implementation of the Regulation of the People’s Republic of China on the Administration of Foreign-funded Financial
Institutions (Order No. 4, 2004 of China Banking Regulatory Commission, hereinafter referred to as the Detailed Rules):

Your Shenzhen Branch is approved to deal in RMB business for non-foreign-funded enterprises under the scope prescribed in Article
17 of the Regulation.

Your Bank is approved to make additional allocations of a sum of foreign exchange working capital in convertible currencies, equivalent
to 100 million Yuan to Shenzhen Branch. After increasing the capital, the working capital of this Branch comes up to 300 million
Yuan, of which the foreign exchange working capital in convertible currencies comes up to 200 million Yuan and the RMB working capital
comes up to 100 million Yuan.

After increasing capital and going through statutory formalities in accordance with the Regulation and the Detailed Rules, your Shenzhen
Branch may, under Article 35 of the Detailed Rules, deal in providing foreign exchange business services to various clients under
the following scope: providing RMB business services to foreign-funded enterprises, China-based foreign institutions, mainland-based
representative offices of the enterprises set up by people from Hong Kong, Macao and Taiwan, and to aliens, compatriots from Hong
Kong, Macao and Taiwan, and non-foreign-funded enterprises, pooling public deposits, granting short-term, medium-term and long-term
loans, transacting acceptance and discount of negotiable instruments, buying and selling government bonds and financial bonds, buying
and selling non-stock negotiable instruments denominated in a foreign currency, providing services on letter of credit and guaranties,
transacting domestic and overseas settlements, buying and selling foreign currencies, buying and selling foreign currencies for itself
or on a commissioned basis, converting foreign currencies, inter-bank funding, bank card business, safety-deposit box, providing
credit-standing investigation and consultation services, as well as other business activities upon the approval of China Banking
Regulatory Commission.

China Banking Regulatory Commission

March 20, 2006

 
China Banking Regulatory Commission
2006-03-20

 



CIRCULAR OF THE MINISTRY OF FINANCE AND STATE ADMINISTRATION OF TAXATION ON RELEVANT ISSUES CONCERNING CONSUMPTION TAXES IN THE IMPORT LINK

Ministry of Finance, State Administration of Taxation

Circular of the Ministry of Finance and State Administration of Taxation on Relevant Issues concerning Consumption Taxes in the Import
Link

Cai Guan Shui [2006] No.22

The General Administration of Customs,

For the purpose of meeting the requirements for social and economic development and perfecting the consumption tax system, adjustments
are made to the tax items, tax rates and the relevant consumption tax policies upon the approval of the State Council. In light of
the Circular of Ministry of Finance and State Administration of Taxation on Adjusting and Perfecting Consumption Tax Policies (Cai
Shui [2006] No.33), a notice on relevant issues concerning the collection of consumption taxes in the import link is hereby circulated
as follows:

I.

Consumption taxes shall be collected on such new taxable items as golf balls and golf equipments, luxury watches, yachts, disposable
wooden chopsticks, solid wood flooring, naphtha, solvent oil, lubrication oil, fuel oil, aviation kerosene, and so on. Consumption
taxes on skin care and hair care products shall be canceled. And the consumption tax rates on cars, motorcars, automobile tyres and
white spirits shall be adjusted. The tax rates on naphtha, solvent oil, lubrication oil, and fuel oil shall be 30% of the amount
of consumption taxes payable at interim; consumption tax on aviation kerosene shall not be collected at interim; and consumption
tax on radial tyres shall be exempted.

II.

Up to14 categories of commodities are subject to import link consumption tax after the adjustment, and see the Attachment for the
specific tax items and tax rates.

III.

The relevant provisions of the Circular of the Ministry of Finance, the General Administration of Customs, and the State Administration
of Taxation on Printing and Distributing the Provisions on Issues of Tax Policy concerning Collection of Taxes on Imported Goods
by the Customs in the Import Link (Cai Guan Shui [2004] No.7) shall be observed when handling issues concerning the policy on the
import link consumption tax.

IV.

The present Notice shall come into force as of the day of April 1, 2006. In case that any former provision conflict with this Notice,
the present Notice shall prevail.

Attachment: Table of Tax Items and Tax Rates for Taxable Commodities Subject to Import Link Consumption Taxes

Ministry of Finance

State Administration of Taxation

March 30, 2006 Attachment:Table of Tax Items and Tax Rates for Taxable Commodities Subject to Import Link Consumption Taxeshtm/e04852.htmAttachment

￿￿

￿￿

 

Tariff Code

Names of Commodities

Tax Rates

Note

 

21069020

Compound alcoholic preparations used for the manufacture of beverages

5%

 

 

 

Beer made from malt, whose import duty-paid price is USD 370 per ton or more

250 Yuan per ton

1kg= 0.988 liters

 

22030000

Beers made from malt, whose import duty-paid value is less than USD 370 per ton

220 Yuan per ton

 

 

22041000

Grape Sparkling wine

10%

 

 

22042100

Small package wine made from fresh grapes

10%

 

 

22042900

Wine made from fresh grapes in other packages

10%

 

 

22043000

Other grape juices for brewing

10%

 

 

22051000

Small package vermouth and similar wines

10%

 

 

22059000

Vermouth in other packages and similar wines

10%

 

 

 

Yellow rice wine

240 Yuan per ton

1 kg = 0.962 liters

 

22060000

Other fermented beverages

10%

 

 

22071000

Undenatured ethyl alcohol of an alcoholic strength of 80% or more

5%

 

 

22072000

Ethyl alcohol and other spirits, denatured, of any strength

5%

 

 

22082000

Spirits made from distilling wines

20%+1yuan per kilogram

1 liter = 0.912 kg

 

22083000

Whisky

20% + 1 Yuan per kilogram

 

 

22084000

Rum and other spirits distilled from sugar canes

20% + 1 Yuan per kilogram

 

 

22085000

Gin

20% + 1 Yuan per kilogram

 

 

22086000

Vodka

20% + 1 Yuan per kilogram

 

 

22087000

Liqueurs and Cordials

20% + 1 Yuan per kilogram

 

 

22089010

Tequila

20% + 1 Yuan per kilogram

 

 

 

Undenatured ethyl alcohol of an alcoholic strength of less than 80%

5%

 

 

22089090

Liquor made from potatoes

20% + 1 Yuan per kilogram

 

 

 

Other liquors and alcoholic beverages

20% + 1 Yuan per kilogram

 

 

24021000

Cigars made from tobacco

40%

 

 

24022000

Cigarettes made from tobacco with the duty-paid value of each standard carton of imported cigarettes being 50 Yuan
or more

45% + 150 Yuan per standard container

One standard carton of cigarettes = 200 cigarettes;

One standard container of cigarettes = 50,000 cigarettes

 

 

Cigarettes made from tobacco with the duty-paid value of each standard carton of imported cigarettes being less than
50 Yuan

30%+150 Yuan per standard container

 

 

Cigarettes made from tobacco substitutes with the duty-paid value of each standard container of imported cigarettes
being 50 Yuan or more

45% + 150 Yuan per standard container

 

24029000

Cigarettes made from tobacco substitutes with the duty-paid value of each standard container of imported cigarettes
being less than 50 Yuan

30% + 150 Yuan per standard container

 

Cigar made from tobacco substitutes

40%

 

 

24031000

Tobacco for smoking

30%

 

 

24039100

￿￿Homogenized￿￿ or ￿￿reconstituted￿￿ tobacco

30%

 

ex

24039900

Manufactured tobacco and manufactured tobacco substitutes (excluding tobacco extracts and tobacco essences)

30%

 

 

27101110

Motor vehicle gasoline and aviation gasoline

0.2 Yuan per liter

1 kg = 1.388 liters

 

27101921

Light diesel oil

0.1 Yuan per liter

1 kg = 1.176 liters

 

27101911

Aviation kerosene

0.1 Yuan per liter, not collected for the time being

1kg =1.246 liters

 

27101120

Naphtha

0.2 Yuan per liter, and collected at the reduced rate of 0.06 Yuan per liter

1kg = 1.385 liters

 

27101120

Rubber solvent oil, paint solvent oil, and extractive solvent oil

0.2 Yuan per liter, and collected at the reduced rate of 0.06 Yuan per liter

1 kg= 1.282 liters

 

27101991

Lubricant oil

0.2 Yuan per liter, and collected at the reduced rate of 0.06 Yuan per liter

1kg = 1.126 liters

 

27101922

No.5-7 fuel oil

0.1 Yuan per liter, and collected at the reduced rate of 0.03 Yuan per liter

1kg = 1.015 liters

 

27101929

Other fuel oils (excluding wax oil)

0.1 Yuan per liter, and collected at the reduced rate of 0.03 Yuan per liter

Wax oil: the volume percentage of distillage being less than 20% under 350￿￿ and more than 80% under 550￿￿font>

ex

33021090

Mixtures of spices and other substances for drinks and food products of more than 0.5% of alcohol strength
by volume

5%

 

 

33030000

Perfumes &toilet waters

30%

 

 

33041000

Make-ups for lips

30%

 

 

33042000

Make-ups for eyes

30%

 

 

33043000

Make-ups for fingernail and toenail

30%

 

 

33049100

Sachet, whether or not compressed, for cosmetic/toilet use

30%

 

ex

33049900

Other beautification make-ups (excluding skin-care make-ups)

30%

 

 

36041000

Fireworks and fire crackers

15%

 

 

40111000

New pneumatic tires of rubber, of a kind used on motor cars, of radial ply construction

0

Radial tyres shall refer to the tyres whose tyre cords are arranged according to the direction of the radials in the
structure of the tyres, and have belted layers with the steel cord arranged adjacent to the circular that bind the
tyre body tightly

 

New pneumatic tires of rubber used on motor cars, or of non-radial-ply construction

3%

 

40112000

New pneumatic tyres of radial ply construction used on buses or lorries

0

 

New pneumatic tyres of non-radial-ply construction used on buses or lorries

3%

 

40114000

New pneumatic tires of rubber used on motorcycles

3%

 

40116100

Other new pneumatic tires of radial ply construction having a ￿￿herring-bone￿￿ or similar tread

0

1...567...25Page 6 of 25

CONSTITUTION ACT, 1982 – page 22

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

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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