Article 2 The minimum prices for the use rights of State-owned land transferred through agreements as referred to in these Rules (hereinafter
referred to as minimum prices for agreed transfer) are the bottom standards on transfer fees fixed by people’s governments at a higher
level to exercise macro regulation, control and management of land markets and prevent the agreed transfer of State-owned land use
rights at law prices.

   Article 3 Determination of minimum prices for agreed transfer of the use rights of State-owned land in areas covered by urban development programmes
shall follow stipulations in these Rules.

   Article 4 The minimum prices for agreed transfer shall be determined by the land management departments under people’s governments at the provincial,
autonomous regional and municipal level together with other departments and put into implementation by land management departments
under people’s governments at the county level after approval by people’s governments at the provincial, autonomous regional and
municipal level.

   Article 5 The minimum prices for agreed transfer shall be determined in proportion to the base prices of land for different uses (commercial,
residential, and industrial) and in different grades. Specific proportions shall be worked out by provinces, autonomous regions,
and municipalities. The specific proportions in cities where the people’s governments of municipalities, cities separately listed
in the State budget, provinces, and autonomous regions are located shall, however, be reported to the State Land Administration for
verification and approval.

Base land prices shall be determined in accordance with Procedures for Price Estimation of Urban Land. If base land prices are readjusted,
minimum prices for agreed transfers shall be readjusted accordingly.

   Article 6 Different minimum prices for agreed transfer may be determined for land used for industries and projects whose development enjoys
key support or encouragement from the State in line with the classification of industries or projects.

   Article 7 Basic factors including compensations for removal and resettlement, land development costs, bank interests, and net land incomes
shall be taken into comprehensive consideration when minimum prices for agreed transfer are determined.

   Article 8 Land management departments of people’s governments at the provincial, autonomous regional and municipal level shall report the minimum
prices for agreed transfer they have determined to the State Land Administration for registration before they are put into implementation.
The State Land Administration shall order the re- determination of determined minimum prices for agreed transfer if they do not conform
with stipulations in Article 7 of these Rules.

   Article 9 The fees for the transfer of the use rights of State-owned through agreements shall not be smaller than minimum prices for agreed
transfer.

   Article 10 Land management departments under people’s governments at the city and county level shall make public the fees for the transfer of
the use rights of State-owned land after conclusion of transfer contracts, if the use rights are transferred through agreements.

   Article 11 Implementation of minimum prices for agreed transfer shall be subject to supervision and inspection by land management departments
under people’s governments that determine and approve these prices.

If the fees for the transfer of the use rights of State-owned land through agreements are smaller than the minimum prices for agreed
transfer, land management departments under people’s governments responsible for supervision and inspection shall order their correction
with prescribed periods of time. Contracts on land use right transfer shall be invalid if no corrections are made within the prescribed
periods of time. Losses recurred therefrom shall be sustained by the transferers, and responsible persons shall be administratively
disciplined by their units or units at a higher level according to the seriousness of their cases.

   Article 12 The State Land Administration shall be responsible for the explanation of these Rules.

   Article 13 These Rules shall come into force on the date of their promulgation.