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NOTICE OF CHINA SECURITIES DEPOSITORY AND CLEARING CORPORATION LIMITED ON THE RELEVANT ISSUES ABOUT THE OPENING OF A-SHARE SECURITIES ACCOUNT BY FOREIGN STRATEGIC INVESTORS

China Securities Depository and Clearing Corporation Limited

Notice of China Securities Depository and Clearing Corporation Limited on the Relevant Issues about the Opening of A-share Securities
Account by Foreign Strategic Investors

For carrying into effect the relevant provisions of the Measures for the Administration of Strategic Investment in Listed Companies
by Foreign Investors as jointly promulgated by the Ministry of Commerce, China Securities Regulatory Commission (CSRC), State Administration
of Taxation, State Administration for Industry and Commerce and State Administration of Foreign Exchange, regarding the relevant
issues on the acquisition of A-shares through strategic investment in listed companies, the relevant formalities for opening A-share
securities accounts (hereinafter refers to as the securities accounts) and the registration of stocks by an investor from a foreign
country or from the Hong Kong SAR, Macao SAR or Taiwan Region ( hereinafter refers to as an investor), this Notice is hereby announced
as follows:

An investor who legally holds A-share stock of a listed company shall apply directly to either Shanghai branch or Shenzhen branch
of the China Securities Depository and Clearing Corporation Limited for opening a securities account, for which the materials shall
be submitted as follows:

A certification document of effective business registration of an investor and a photocopy thereof or other document that could certify
the establishment of relevant institution and has the same legal force as the document of business registration and a photocopy
thereof ;

A power of attorney as granted to the relevant handler by the board of directors or any director thereof, major shareholder or any
other competent person the document that can certify that the grantor has a right of authorization, as well as a photocopy of effective
identity certification of the grantor;

An effective identity certification of the relevant handler and a photocopy thereof;

The relevant approval documents as produced by the Ministry of Commerce and the China Securities Regulatory Commission on approving
the strategic investment made by the relevant investor in a listed company and the relevant photocopies thereof or a certification
document on shareholding as produced by the relevant listed company;

An Application Form for the Registration of Securities Account; and

A Commitment on Self-disciplinary Administration of Securities Account (see the appendix for the format).

If the investor who holds the shares of a listed company before the listed company’s initial public offering (IPO) is a natural person,
except his effective identity certification as well as a photocopy thereof, those materials prescribed in items (4) through (6) in
paragraph 1 of this Article shall be provided.

The foregoing material is provided in any foreign language, a Chinese version is required.

II.

The approval documents and shareholding certification as mentioned in the preceding paragraph shall include the situations as follows:

Where the investment is made by means of directional offering conducted by a listed company, the relevant approval documents shall
be provided by the relevant investor, which is produced by the Ministry of Commerce on approving the strategic investment made by
the relevant investor in the listed company and the verification document as produced by the China Securities Regulatory Commission
on directional offering;

Where investment is made by means of agreement-based transfer, the approval documents produced by the Ministry of Commerce shall be
provided by investor. If any acquisition of a listed company is involved, the verification approval as produced by the China Securities
Regulatory Commission shall be provided as well;

As to the investor that holds shares before the relevant listed company makes its initial public offering, the relevant certification
issued by the listed company on shareholding before the said IPO shall be provided; or

Other circumstances as prescribed by the law or regulation of the state or by the provision of the China Securities Regulatory Commission
.

III.

Where the investor opens a securities account, the China Securities Depository and Clearing Corporation Limited may according to
the certification documents certifying that the investor legally holds A-shares stock of a listed company and in accordance with
the relevant operating rules for stock registration, handle the formalities for stock registration and shall, according to the relevant
provisions, handle the formalities for sale prohibition on the A-shares stock as held by the investor,.

IV.

Upon the expiration of sale prohibition term on the A-shares stock held by an investor, the investor may apply for releasing from
the sale prohibition on shares through the relevant listed company and, upon the relevant verification conducted by the Stock Exchange,
, the China Securities Depository and Clearing Corporation Limited may handle the formalities for releasing from the sale prohibition
on A-shares stock in accordance with the documents as confirmed by the Stock Exchange. .

Before the expiration of sale prohibition term on the A-shares stock , the investor requires to transfer the shares due to such special
reasons as bankruptcy, liquidation and pledge, the relevant approval documents as produced by such competent authorities as the Ministry
of Commerce shall be provided and handled the relevant formalities for transfer and registration in accordance with the relevant
provisions on shares transfer..

VI.

The investor who has opened a securities account shall not open any securities account any more unless it is otherwise prescribed
by any law or regulation of the state or any provision of the China Securities Regulatory Commission .

VII.

The matter that hasn’t been prescribed in this Notice shall be governed by the relevant provisions of the China Securities Depository
& Clearing Corporation Limited on the administration of securities accounts and stock registration.

VIII.

The term “investors” as mentioned in this Notice shall not include the qualified foreign institutional investor. The application
of the qualified foreign institutional investor for opening any securities account shall be handled in accordance with the relevant
provisions on qualified foreign institutional investors.

IX.

This Notice shall enter into effect as of the day of promulgation.

China Securities Depository and Clearing Corporation Limited

February 14, 2006 Appendix:Commitment on Self-disciplinary Administration of Securities Account

Branches of China Securities Depository and Clearing Corporation Limited:

The investor commits that: the securities account as opened in your Company shall only be used to apply to the A-shares stock of listed
companies that have been lawfully obtained as well as the sale of aforesaid shares upon the expiration of sale prohibition term.
Unless it’s otherwise prescribed by the law or regulation, no other securities may be transacted in the secondary market.

(Seal/Signature)

(Date)

China Securities Depository and Clearing Corporation Limited
2006-02-14

ACCOUNTING STANDARDS FOR ENTERPRISES NO. 2 – LONG-TERM EQUITY INVESTMENTS

the Ministry of Finance

Accounting Standards for Enterprises No. 2 – Long-term Equity Investments

Cai Kuai [2006] No.3

February 15, 2006

Chapter I General Provisions

Article 1

In order to regulate the recognition and measurement of long-term equity investments, and disclosure of relevant information, these
Standards are formulated in the light of the Accounting Standards for Enterprises – Basic Standards.

Article 2

Other relevant accounting standards shall apply to such items as follows:

(1)

The Accounting Standards for Enterprises No. 19 – Foreign Currency Translation shall apply to the translation of long term equity
investments in foreign currencies; and(2The Accounting Standards for Enterprises No. 22 – Recognition and measurement of Financial
Instruments shall apply to the long term investments which haven’t been dealt with by the present standards..

Chapter II Initial Measurement

Article 3

The initial cost of the long-term equity investment formed in the merger of an enterprise shall be ascertained in accordance with
the following provisions:

(1)

For the merger of enterprises under the same control, if the consideration of the merging enterprise is that it makes payment in cash,
transfers non-cash assets or bear its debts, it shall, on the date of merger, regard the share of the book value of the owner’s equity
of the merged enterprise as the initial cost of the long-term equity investment. The difference between the initial cost of the long-term
equity investment and the payment in cash, non-cash assets transferred as well as the book value of the debts borne by the merging
party shall offset against the capital reserve. If the capital reserve is insufficient to dilute, the retained earnings shall be
adjusted.If the consideration of the merging enterprise is that it issues equity securities, it shall, on the date of merger, regard
the share of the book value of the owner’s equity of the merged enterprise as the initial cost of the long-term equity investment.
The total face value of the stocks issued shall be regarded as the capital stock, while the difference between the initial cost of
the long-term equity investment and total face value of the shares issued shall offset against the capital reserve. If the capital
reserve is insufficient to dilute, the retained earnings shall be adjusted.

(2)

For the merger under different control, the merging party shall, on the date of merger, regard the merger costs ascertained in accordance
with the Accounting Standards for Enterprises No. 20 – Merger of Enterprises as the initial cost of the long-term equity investment.

Article 4

Besides the long-term equity investments formed by the merger of enterprises, the initial cost of a long-term equity investment obtained
by other means shall be ascertained in accordance with the provisions as follows:

(1)

The initial cost of a long-term equity investment obtained by making payment in cash shall be the purchase cost which is actually
paid. The initial cost consists of the expenses directly relevant to the obtainment of the long-term equity investment, taxes and
other necessary expenses.

(2)

The initial cost of a long-term equity investment obtained on the basis of issuing equity securities shall be the fair value of the
equity securities issued.

(3)

The initial cost of a long-term equity investment of an investor shall be the value stipulated in the investment contract or agreement
except the unfair value stipulated in the contract or agreement.

(4)

The initial cost of a long-term investment obtained by the exchange of non-monetary assets shall be ascertained in accordance with
the Accounting Standards for Enterprises No. 7 – Exchange of Non-monetary Assets.

(5)

The initial cost of a long-term equity investment obtained by recombination of liabilities shall be ascertained in accordance with
Accounting Standards for Enterprises No. 12 – Debt Restructuring.

Chapter III Subsequent Measurement

Article 5

The following long-term equity investments shall, in accordance with Article 7 of these Standards, be measured by employing the cost
method:

(1)

A long-term equity investment of an investing enterprise that is able to control the invested enterprise. The term “control” refers
to the power to determine the financial and operating polices of an enterprise and obtain benefits from its operating activities
of the enterprise. If the investing enterprise can control an invested entity, the invested entity as its subsidiary company shall
be included in the consolidation range of the consolidated financial statements. For a long term equity investment on the subsidiary
company of an investing enterprise, the investing enterprise shall accounted by employing the cost method as prescribed by these
Standards, and shall make an adjustment by employing the equity method when it works out consolidated financial statements.

(2)

A long-term equity investmentofinvestment of the investing enterprise that does not do joint control or does not have significant
influences on the invested entity,andentity, and has no offer in the active market and its fair value cannot be reliably measured.
The term “joint control” refers to the control over an economic activity in accordance with the contracts and agreements, which does
not exist unless the investing parties of the economic activity with one an assent on sharing the control power over the relevant
important financial and operating decisions. Where an investing enterprise and other parties do joint control over an invested entity,
the invested entity shall be their joint enterprise. The term “significant influences” refers to the power to participate in making
decisions on the financial and operating policies of an enterprise, but not to control or do joint control together with other parties
over the formulation of these policies. Where an investing enterprise is able to have significant influences on an invested entity,
the invested entity shall be its associated entity.

Article 6

When ascertaining whether or not it is able to control or have significant influences on an invested entity, an enterprise shall take
into consideration the invested enterprises’ current convertible corporate bonds and current executable warrants held by the investing
enterprise and other parties, as well as other potential factors concerning the voting rights.

Article 7

The price of a long-term equity investment measured by employing the cost method shall be included at its initial investment cost.
If there are additional investments or disinvestments, the cost of the long-term equity investment shall be adjusted. The dividends
or profits declared to distribute by the invested entity shall be recognized as the current investment income. The investment income
recognized by the investing enterprise shall be limited to the amount received from the accumulative net profits that arise after
the invested entity has accepted the investment. Where the amount of profits or cash dividends obtained by the investing entity exceeds
the aforesaid amount, it shall be regarded as recovery of initial investment cost.

Article 8

A long-term equity investment of the investing enterprise that does joint control or significant influences over the invested entity
shall, in accordance with Articles 9 through 13 of these Standards, be measured by employing the equity method.

Article 9

If the initial cost of a long-term equity investment is more than the investing enterprise’ attributable share of the fair value of
the invested entity’s identifiable net assets for the investment, the initial cost of the long-term equity investment may not be
adjusted. If the initial cost of a long-term equity investment is less than the investing enterprise’ attributable share of the fair
value of the invested entity’s identifiable net assets for the investment, the difference shall beincludedbe included in the current
profits and losses and the cost of the long-term equity investment shall be adjusted simultaneously. The fair value of the identifiable
net assets of the invested entity shall be ascertained by referring to the relevant provisions of the Accounting Standards for Enterprises
No. 20 – Merger of Enterprises.

Article 10

After an investing enterprise obtains a long-term equity investment, it shall, in accordance with the attributable share of the net
profits or losses of the invested entity, recognize the investment profits or losses and adjust the book value of the long-term equity
investment. The investing enterprise shall, in the light of the profits or cash dividends declared to distribute by the invested
entity, calculate the proportion it shall obtain, and shall reduce the book value of the long-term equity investment correspondingly.

Article 11

An investing enterprise shall recognize the net losses of the invested enterprise until the book value of the long-term equity investment
and other long-term rights and interests which substantially form the net investment made to the invested entity are reduced to zero,
unless the investing enterprise has the obligation to undertake extra losses. If the invested entity realizes any net profits later,
the investing enterprise shall, after the amount of its attributable share of profits offsets against its attributable share of the
un-recognized losses, resume to recognize its attributable share of profits.

Article 12

The investing enterprise shall, on the ground of the fair value of all identifiable assets of the invested entity when it obtains
the investment, recognize the attributable share of the net profits and losses of the invested entity after it adjusts the net profits
of the invested entity. If the accounting policies and accounting periods adopted by the invested entity are different from those
adopted by the investing enterprise, an adjustment shall be made to the financial statements of the invested entity in accordance
with the accounting policies and accounting periods of the investing enterprise and recognize the investment profits or losses.

Article 13

Where any change is made to the owner’s equity other than the net profits and losses of the invested entity, the book value of the
long-term equity investment shall be adjusted and be included in the owner’s equity.

Article 14

For a long-term equity investment for which there is no offer in the active market and of which the fair value cannot be reliably
measured, if the investing enterprise has not joint control or significant influence over the invested entity any more as a result
of the decrease of investment or other reasons, the cost method shall be employed in the measurement, and the book value of the long-term
equity investment employing the equity method shall be regarded as the initial investment cost to be measured by employing the cost
method. If an enterprise is able to do joint control or significant influence, which does not constitute control, over the invested
entity as a result of additional investment or other reasons, the equity method shall be employed in the measurement, and the book
value of the long-term equity investment measured by employing the cost method or the book value of investment ascertained in accordance
with the Accounting Standards for Enterprises No. 22 – Recognition and Measurement of Financial Instruments shall be regarded as
initial investment cost measured by employing the cost method.

Article 15

The impairment of a long-term equity investment which is measured by employing the cost method as prescribed in these Standards, for
which there is no offer in the active market and of which the fair value cannot be reliably measured, its impairment shall be disposed
in accordance with the Accounting Standards for Enterprises No. 22 – Recognition and Measurement of Financial Instruments. The impairment
of any other long-term equity investment measured in accordance with these Standards shall be disposed in accordance with the Accounting
Standards for Enterprises No. 8 – Asset Impairment.

Article 16

When disposing of a long-term equity investment, the difference between its book value and the actual purchase price shall be included
in the current profits and losses. If any change other than the net profits and losses of the invested entity occurs and is included
in the owner’s equity, the portion previously included in the owner’s equity shall, when disposing of a long-term equity investment
measured by employing the equity method, be transferred to the current profits and losses according to a certain proportion.

Chapter IV Disclosure

Article 17

An investing enterprise shall, in the notes, disclose the information concerning long-term equity investments as follows:

(1)

The name list of its subsidiary companies, joint ventures and associated enterprises, consisting of the names, registration places,
and business nature, proportions of shares and proportions of voting rights of the investing enterprises;

(2)

The main financial information of the joint ventures and associated enterprises, consisting of the aggregate amounts of assets, liabilities,
incomes, expenses, etc.;

(3)

The information about the restriction of the invested entity’ s capacity of transferring funds to the investing entity;

(4)

The current period and accumulative amounts of unrecognized investment losses; and

(5)

The contingent liabilities or the investments in the subsidiary companies, joint ventures and associated enterprises.

the Ministry of Finance
2006-02-15

NOTIFICATION NO.3, 2006 OF FOREIGN ASSISTANCE PROJECT BID BOARD OF THE MINISTRY OF COMMERCE

Notification No.3, 2006 of Foreign Assistance Project Bid Board of the Ministry of Commerce

Tong Gao [2006] No.3

Foreign Assistance Project Bid Board of the Ministry of Commerce held the 3rd regular meeting on February 24, 2006. Matters of concern
and resolution are notified as follows:

The bid-winning enterprise of three projects including Dormitory for President’s Armed Escort in Guinea-Bissau assistance project
was discussed. The Bid Board opened sealed tenders on February 20, 2006. In all, 12 tender enterprises including Jiangsu Construction
Engineering Corp., Guangsha Chongqing Construction (Group) Co., Ltd., Weihai International Economic & Technical Cooperative Co.,
Ltd., Hainan Construction Engineering General Co., China Railway 23BG Group Corporation Co., Ltd., China Jiangsu International Economic
Technical Cooperation Corp., Gansu Foreign Engineering Corporation, China Shandong Foreign Economic Technical Cooperation Corp.,
China Chongqing International Corporation For Econ. & Tech. Cooperation, Guangdong Xinguang International Group Co., Ltd., China
Railway Wuju Group Corporation and Xinjiang International Economic Technical Cooperation Corp. submitted the tender documents on
time. China SFECO Group Co., Ltd. and Hubei Construction Engineering Group Corporation gave up. The Bid Board, in accordance with
“the Measures for Tender Assessment of Undertaking Foreign Assistance Complete Plant Projects” which was revised in 2005 by the Ministry
of Commerce of the People’ Republic of China, for Trial Implementation and the principles of “competing with no minimum bid ” and
“biding with reasonable lower price “,, determined to confer bid to Hainan Construction Engineering General Corporation after two
steps of tender review with technical measures and integrated quantity measures.

The tender mode of Bahamas Stadium assistance project was discussed. Bid Board adopted limited invitation tender mode, and 19 enterprises
including Anhui Foreign Economic Construction Corporation (group) Co., Ltd., Qilu Construction Group Corporation, Shanxi Construction
Engineering (group) Co., Shanghai Construction Group General Co., Beijing Construction Engineering Group Co., Ltd., Qingdao Construction
Group Corporation, Hunan Construction Engineering Group Corporation, Fujian Construction Engineering Group General Co., China State
Construction Engineering Corp., Yanjian Group Co., Ltd., China Civil Engineering Construction Corporation, China National Overseas
Engineering Corporation, Guangdong Xinguang International Group Co.Ltd., Guangdong Construction Engineering Group Co., Ltd., Jiangsu
Construction Group Corp., China Ershisanye Construction Group Co., Ltd., Chongqing Foreign Construction Corporation Beijing Urban
Construction Group Co., Ltd. and Zhejiang Electric Power Construction Corp. will be invited to participate in the bid. Specific matters
of concern shall be notified later.

The tender mode of Container Inspection Equipment of Ecuador assistance project was discussed. The Bid Board determined to have
tender discussion with NUCTECH Company Limited about the project. Specific matters of concern shall be notified later.

The tender mode of an area in Madagascar about 150000 geochemistry measure assistance project. The Bid Board determined to have
tender discussion with China Seismological Bureau about the project. Specific matters of concern shall be notified later.

Foreign Assistance Project Bid Board of the Ministry of Commerce

March 2, 2006

Foreign Assistance Project Bid Board of the Ministry of Commerce
2006-03-02

DECISION OF THE STATE COUNCIL ON THE COLLECTION OF SPECIAL PETROLEUM INCOMES

The State Council

Decision of the State Council on the Collection of Special Petroleum Incomes

Guo Fa [2006] No. 13

The people’s governments of all provinces, autonomous regions, and municipalities directly under the Central Government, all the ministries
and commissions of the State Council, and the institutions directly under the State Council:

Petroleum is an important strategic resource in the national economic and social development. Since 2004, the profits of the crude
oil exploitation industry in China have increased a lot as a result of the continuous and significant rise of the oil price in the
international market, which has increased the costs of other industries and the society for using the oil, caused the unbalance of
the distribution of benefits among various industries, and affected the smooth running of the economy. For the purpose of properly
balancing the interests of different sides, promoting the reform of oil price forming mechanism, reinforcing the state adjustment
and control, and promoting the national economy to develop in a continuous, sound and coordinative way, the State Council has decided
to collect special incomes of petroleum on the excessive incomes obtained by petroleum exploitation enterprises from selling domestically
produced crude oil as a result of the rise of oil price.

The special petroleum proceeds are non-tax incomes of the central treasury and shall be included into the budget management of the
central treasury. The specific measures on the collection administration shall be formulated and promulgated for implementation by
the Ministry of Finance.

The State Council

March 15, 2006

The State Council
2006-03-15

MEASURES FOR THE ADMINISTRATION OF ADMINISTRATIVE LAW ENFORCEMENT IN CULTURAL MARKET

Ministry of Culture

Decree of the Ministry of Culture

No.36

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

Ministry of Culture

March 24, 2006

Measures for the Administration of Administrative Law Enforcement in Cultural Market

Chapter I General Provisions

Article 1

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

Article 2

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

Article 3

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

Business performance activities;

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

Operational activities in places of entertainment;

Operational activities of artwork;

Operational activities of issuance and projection of films;

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

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

Article 4

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

Article 5

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

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

Article 6

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

Article 7

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

Chapter II Law Enforcement Organizations and Law Enforcers

Article 8

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

Article 9

The functions of a law enforcement organization shall be:

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

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

Organizing the training and examination of law enforcers;

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

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

Article 10

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

Article 11

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

Article 12

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

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

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

Article 13

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

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

Article 14

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

Article 15

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

Article 16

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

Article 17

The law enforcers shall meet the requirements as follows:

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

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

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

Article 18

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

Article 19

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

Article 20

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

Article 21

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

Chapter III Law Enforcement Procedures

Article 22

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

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

Article 23

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

Article 24

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

Article 25

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

Article 26

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

Article 27

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

Article 28

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

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

Article 29

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

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

Article 30

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

Article 31

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

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

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

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

Article 32

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

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

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

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

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

Article 33

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

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

Article 34

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

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

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

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

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

The parties make final statements; and

The chairperson announces the end of the hearing.

Article 35

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

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

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

Article 36

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

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

Article 37

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

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

Article 38

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

Chapter IV Supervision over Law Enforcement and Prosecution of Liabilities

Article 39

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

Article 40

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

Subjects of law enforcement;

Procedures for law enforcement;

Application of laws, regulations, and rules;

The situations of performance of legal obligations;

Internal management system of law enforcement organizations;

Disposal of the confiscated properties and goods; and

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

Ministry of Commerce

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

[2006] No. 23

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

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

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

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

Ministry of Commerce

April 20, 2006

Ministry of Commerce
2006-04-20

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

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

No. 465

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

April 29, 2006

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

Article 1

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

Article 2

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

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

Article 3

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

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

Article 4

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

Article 5

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

Article 6

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

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

Article 7

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

Article 8

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

(1)

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

(2)

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

(3)

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

(4)

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

Article 9

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

(1)

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

(2)

The origins are legal;

(3)

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

(4)

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

(5)

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

Article 10

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

(1)

The Import/Export Contract;

(2)

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

(3)

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

(4)

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

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

Article 11

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

Article 12

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

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

(1)

An Application Form for the Import/Export Permission Certificate;

(2)

The Approval Documents for Import or Export; and

(3)

The Import / Export Contract.

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

Article 13

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

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

Article 14

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

Article 15

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

Article 16

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

Article 17

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

Article 18

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

Article 19

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

Article 20

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

Article 21

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

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

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

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

Article 22

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

Article 23

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

Article 24

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

Article 25

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

Article 26

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

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

Article 27

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

Article 28

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

The State Council
2006-04-29

TRANSACTION 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

1...789...25 Page 8 of 25

Probate

CIRCULAR OF THE MINISTRY OF FINANCE ON PRINTING AND DISTRIBUTING THE PROVISIONAL MEASURES FOR FISCAL AND FINANCING MANAGEMENT OF...

MEASURES ON THE NOTIFICATION OF ILLEGAL AND IRREGULAR ACTS OF FOREIGN TRADE OPERATORS

error

NOTICE OF CHINA SECURITIES DEPOSITORY AND CLEARING CORPORATION LIMITED ON THE RELEVANT ISSUES ABOUT THE OPENING OF A-SHARE SECURITIES ACCOUNT BY FOREIGN STRATEGIC INVESTORS

ACCOUNTING STANDARDS FOR ENTERPRISES NO. 2 – LONG-TERM EQUITY INVESTMENTS

NOTIFICATION NO.3, 2006 OF FOREIGN ASSISTANCE PROJECT BID BOARD OF THE MINISTRY OF COMMERCE

DECISION OF THE STATE COUNCIL ON THE COLLECTION OF SPECIAL PETROLEUM INCOMES

MEASURES FOR THE ADMINISTRATION OF ADMINISTRATIVE LAW ENFORCEMENT IN CULTURAL MARKET

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

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

TRANSACTION 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

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