INTERIM PROVISIONS OF SHANGHAI MUNICIPALITY ON THE ADMINISTRATION OF REAL ESTATE AGENTS

Interim Provisions of ShangHai Municipality on the Administration of Real Estate Agents

CHAPTER I GENERAL PROVISIONS CHAPTER II APPLICATION CONDITIONS AND PROCEDURES CHAPTER III MANAGEMENT OF BROKERAGE CHAPTER IV PUNISHMENT
PROVISIONS CHAPTER V SUPPLEMENTARY PROVISIONS

Article 1 These Provisions are formulated in order to develop and standardize the real estate market of this city and strengthen the management
of the broking activities in real estate.

Article 2 The broking activities in real estate mentioned in these Provisions refers to the business activities for providing such services
as intermediate introduction, agency, consultation, etc. on payment of fees to the clients who are engaged in the development, transference,
mortgage or lease of real estate (hereinafter called the client concerned). But the broking activities for transferring the right
to use state-owned land are excluded.

The real estate agent mentioned in these Provisions refers to an organization or an individual who is qualified as a real estate agent,
has been approved to register at the industry and commerce administration department, and has received the business licence to undertake
broking activities in real estate.

Article 3 These Provisions shall apply to all the real estate agents undertaking broking activities in real estate in this city.

Real estate agents who have not registered in this city are not allowed to undertake broking activities in real estate in this city.

Article 4 The Municipal Real Estate Administration and the Municipal Industry and Commerce Administration are competent authorities for administering
broking activities in real estate in this city. The district or county real estate administration and the Pudong New Area real estate
administration department (hereinafter referred to as the district or county real estate administration department) and the district
or county industry and commerce administration are the competent authorities for administering broking activities in their respective
administrative divisions.

The municipal, district or county real estate trading administration departments are in charge of the daily routine in the administration
of real estate agents.

CHAPTER II APPLICATION CONDITIONS AND PROCEDURES

Article 5 Those who have reached the age of 18, have this city’s registered permanent residence, have acquired the education of senior middle
school or up, and have undergone the unified trainings organized by the Municipal Real Estate Administration, passed its examinations,
and received the “Qualification Certificate for Shanghai Real Estate Agent” issued by the Municipal Real Estate Administration may
apply for undertaking broking activities in real estate. But those who are not allowed to hold concurrent posts according to the
provisions of the State and this city are excluded.

Article 6 The applicant to establish a real estate broking organization shall have the following qualifications:

1. Having 5 persons or more who have received the “Qualification Certificate for Shanghai Real Estate Agent”;

2. Having a capital of RMB 100,000 or more;

3. Having the articles of association with a definite business aim;

4. Having a fixed place of business.

Article 7 The applicant to become a private real estate agent shall have the following qualifications:

1. Having received the “Qualification Certificate for Shanghai Real Estate Agent”;

2. Having a capital of RMB 20,000 or more, or the property security worth RMB 20,000 or more provided by his guarantor;

3. Having a fixed place for broking activities;

4. Having had no criminal record in the 3 years previous to his application.

Article 8 An applicant to become a real estate agent shall apply for registration to the industry and commerce administration department in
his business location. The industry and commerce administration department shall approve his registration if the conditions in these
Provisions are met, and shall grant him the business licence, while for those who do not meet the conditions in these Provisions,
no registration shall be granted.

Within 30 days after receiving the business licence, the real estate agent shall report it for the record to the district or county
real estate trading administration department in the place where the industry and commerce registration organization is located.

Article 9 The “Qualification Certificate for Shanghai Real Estate Agent” is to be verified by the issuing organization every two years. Those
who fail to pass the verification or do not take part in the verification without any reason must not be allowed to undertake broking
activities in real estate.

CHAPTER III MANAGEMENT OF BROKERAGE

Article 10 The real estate broking activities of a real estate broking organization must be conducted by its personnel who have received the
“Qualification Certificate for Shanghai Real Estate Agent”.

The personnel who have the “Qualification Certificate for Shanghai Real Estate Agent” must conduct broking activities in real estate
in the name of a real estate agent.

Article 11 A real estate agent shall sign a real estate brokerage contract with the client concerned when providing the latter with such services
as intermediate introduction, agency, or consultation on entrusted items.

A real estate brokerage contract shall include the following main points:

1. Object (items for brokerage);

2. Requirements and standards for the brokerage items;

3. Time limit of the fulfillment of the contract;

4. The amount of service fee and mode of payment

CIRCULAR OF STATE ADMINISTRATION OF FOREIGN EXCHANGES ON ISSUES RELATING TO ADMINISTRATION OF VERIFICATION AND SALES OF COLLECTION OF FOREIGN EXCHANGES UNDER EXPORT FACTORING SERVICES

The State Administration of Foreign Exchanges

Circular of State Administration of Foreign Exchanges on Issues Relating to Administration of Verification and Sales of Collection
of Foreign exchanges Under Export Factoring Services

HuiFa [2003] No.79

July 1, 2003

The branches and the departments of foreign exchange administration (hereinafter referred to as departments) of the State Administration
of Foreign Exchange (SAFE) in the provinces, autonomous regions, and municipalities directly under the Central Government, and the
branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, as well as banks designated to foreign exchange services:

In order to standardize the verification and sales of foreign exchanges under export factoring, support the development of foreign
trade, and encourage banking innovation, here is to notify you of the matters relating to the verification and sales of foreign exchanges
under export factoring as follows:

The export factoring services herein (export factoring) refer to comprehensive settlement and financing services of minimum two items
of receivable management and credit risk control, collection services, bad account guarantee and trade financing provided by designated
banks of foreign exchanges (merchants of export factoring) for the short-term credit sales of export units (exporters).

Under export factoring, if the merchant of export factoring has not provided the exporters with financing services or provided financing
services with recourse, the merchant of export factoring shall handle with the formalities for settlement or entry of foreign exchanges
and issue to the exporters the duplicate for verification and sales of foreign exchanges from export according to the relevant provisions
upon collection of the commodity prices from outside China.

Under export factoring, if the merchant of export factoring has provided the exporters with financing services without recourse, the
merchant of export factoring may provide the exporters with the financed fund and shall issue to the exporters the duplicate for
verification and sales of foreign exchanges from export based on the financed amount according to the relevant provisions upon handling
with the formalities for settlement and entry of the financed amount, thus formulating the special code for verification and sales
of foreign exchanges on the special duplicate (for detailed formulating code, please refer to the Circular of the State Administration
of Foreign Exchanges on the Issues Relating to the Management of the Special Duplicate for Verification and Sales of Foreign Exchanges
from Export (HuiFa [2003] No. 11). At the same time, the Special Duplicate for Verification and Sales of Foreign Exchanges from Export
shall be indicated as “export factoring financing services”.

Upon the collection of the commodity prices by the merchant of export factoring from outside China on behalf of the exporter, the
merchant of export factoring will deduct the financed fund and the interests and issue the special duplicate for verification and
sales of foreign exchanges of export for the balance. Meanwhile, the Special Duplicate for Verification and Sales of Foreign Exchanges
from Export shall be indicated as “balance from export factoring”, the relevant expenses under the item of factoring, the financing
interests, the code of submission of foreign-related incomes, and the original special code for verification and sale of foreign
exchanges of exports.

Upon the collection of the commodity prices by the merchant of export factoring from outside China on behalf of the exporter, the
merchant of export factoring and the exporter shall handle with the submission for statistics of international payment according
to Article 28 and the relevant provisions of the Procedures for business Operation of Submission for Statistics of International
Payment Through Financial Institutions.

Under the export factoring, the exporter shall handle with the formalities for verification and sales of foreign exchanges of export
with the branches and sub-branches of the state administration of foreign exchanges (hereinafter referred to as the administration
of foreign exchanges) against the export factoring contract and the specified vouchers of verification and sales within the time
specified according to the Measures for the Management of Verification and Sales of Foreign Exchanges of Export and the Implementation
Rules and the relevant provisions.

When handling with the formalities for the verification and sales of foreign exchanges of export under export factoring for an exporter,
if the difference between the collection of foreign exchanges and the total transaction price indicated on the Customs declaration
bill for export commodities exceeds USD500 (inclusive), the administration of foreign exchanges may handle with the verification
and sales of the difference based on the factoring fees indicated on the factoring contract and the special duplicate for verification
and sales of foreign exchanges o0f export, and issue the exporter the special duplicate for tax refund of the bill of verification
and sales of foreign exchanges of export.

In case the merchant of export factoring fails to collect the foreign exchanges from outside china due to the disputes over the trade
parties to the trade when the merchant of export factoring provides the exporter with the financing services without recourse, the
merchant of export factoring shall notify the exporter when deducing the amount, and within ten business days upon receipt of such
notice, the exporter shall provide the merchant of export factoring with the Certificate on Set-off of Verification and Sales of
Foreign Exchanges of Export issued by the administration of foreign exchanges. In case the exporter fails to provide such certificate,
the merchant of export factoring shall send a written report to the administration of foreign exchanges, and shall not issue for
such enterprise any special duplicate for verification and sales of foreign exchanges under export factoring in the future.

Under export factoring, when providing the exporter with financing services or in case of losses from the operation of export factoring
services, the merchant of export factoring shall make use of its own fund of foreign exchanges or against its operation capital,
and shall not buy foreign exchanges at its own discretion or set off any amount with the capital settled by the clients.

In case of insufficient capital of foreign exchange or operation capital of foreign exchanges, the merchant of export factoring may
make up for them by applying for purchase of foreign exchanges with the administration of foreign exchanges according to the relevant
provisions.

The merchant of export factoring shall set up the ledger for registration of each item of export factoring services undertaken for
check and review by the administration of foreign exchanges.

The Circular will come into force as of the date of its promulgation.

Upon receipt of the Circular, the branches shall distribute them to their subordinate sub-branches and banks designated to foreign
exchange services (inclusive of foreign-invested banks) as soon as possible, and Chinese-invested banks designated to foreign exchange
services shall distribute them to their subordinate branches and sub-branches. In case of any problems in execution, please immediately
feedback to the Management Department of Current Accounts of the State Administration of Foreign Exchanges.

The State Administration of Foreign Exchanges
2003-07-01

INTERIM REGULATIONS ON ADMINISTRATION OF SOFTWARE PRODUCTS

Interim Regulations on Administration of Software Products

PART ONE GENERAL PRINCIPLES PART TWO REGISTRATION OF SOFTWARE PRODUCTS PART THREE SOFTWARE PRODUCTION PART FOUR MANAGEMENT OF SOFTWARE
PRODUCTS PART FIVE SUPERVISION PART SIX SUPPLEMENTATION

Article One The promulgation of the provisional regulation aims at enhancing the software products management, promoting the development
of the software industry and wider computer application, and accelerating the computerization of the national economy.

Article Two The regulation is applicable to the replication of software carried by all kinds of devices which are provided to the
public by way of selling, renting or licensing. These devices include paper, tape, disc, VCD, semi-transistor storage device, integrated
circuit chip and any other form which has the capacity to store information. The regulation is not applicable to those software designed
or entrusted to be designed by units or individuals for self-use.

Article Three The development, production and marketing of software are encouraged for the purpose of carrying forward the development
of the software industry, and satisfying the increasing demand for computerization.

Article Four Software development, production, management and import and export must not contradict the relevant laws and regulations,
and the following is banned:

1. violating intellectual property right.

2. carrying computer virus endangering the computer system.

3. carrying contents forbidden by the government.

Article Five The Ministry of the Electronic Industry is in charge of the national software administration.

PART TWO REGISTRATION OF SOFTWARE PRODUCTS

Article Six The state exercises a system of registration and filing over software products. The National Software Product Management
Center under the Ministry of Electronic Industry shall be responsible for the registration numbers and certificates as well as other
relevant management affairs.

Article Seven Application for the registration and filing of software products shall be submitted by the relevant manufacturer together
with the following documents:

1. a copy of legal person business license issued by the Administration of Industry and Commerce.

2. the identity certificate of the legal representative and the relevant materials.

3. the valid copyright certificate of the software product, including the valid certificate for holding the copyright by the relevant
institution or enterprise or the contract by which the copyright owner gives approval to the relevant organization to produce the
software product and the valid copyright certificate for the software.

4. the name, contents, function, the copyright holder, materials concerning the registration and filing of the software copyright
as well as the sample and test result of the software product.

5. when the registration is applied for through the delegation of a software manufacturer, the certificate of authorization shall
be provided at the same time.

Article Eight Application for the registration and filling of an imported software product shall be undertaken by the relevant importer,
and apart from the documents stipulated in Article 7 of this regulation, relevant materials granting permission to the importer of
the software product shall be provided at the same time.

Article Nine Application for the registration and filing of a foreign software product made domestically shall be undertaken by the
relevant software manufacturer, and apart from the documents stipulated in Article 7 of this regulation, relevant materials granting
permission to the import of the software product shall be submitted at the same time.

Article Ten In case of the change of the registered software items, the applicant shall go through the formalities of the change of
the registration at the original issuing authorities.

Article Eleven Producers of software shall meet the following requirements:

1. They shall be corporate bodies, established under the approval of the Administration of Industry and Commerce, and the operation
of computer software (including software technology development and production) shall be included in their business range.

2. They shall have the necessary conditions and technical ability, for software production.

3. They shall have a fixed place for production.

4. They shall have the means and capability to guarantee the quality of both the product and the production.

Article Twevele The producer shall hold or be franchised or licensed the copyright of the software they produce.

Article Thirteen The software producers shall be responsible for the examination of the contents of their products.

Article Fourteen The quality of the relevant software shall comply with the relative technology and software standard, and the quality
certification system promulgated by the state, as well as the provisions of relevant laws and regulations.

Article Fifteen Software for the users shall be marked on the outer package with the name, version number, copyright owner, registration
number of the software, as well as the name and address of the producers (or the importer) and the date of production.

Article Sixteen The software products provided to users (including foreign software imported or produced locally) shall be accompanied
with adequate operation literature in Chinese, such as instructions, operation manuals etc.. The content, mode of technological service
as well as its suppliers shall be indicated on the product or in the above- mentioned operation literature, or in other written forms.

Article Seventeen All foreign software products imported or produced locally shall comply with stipulations of relevant laws, the
technology standards and norms of the state and of this regulation. Import or production of foreign software listed in article 4
of this regulation is prohibited. For foreign software products that do not comply with the nation’s technology standards, norms
or this regulation, or evidenced to be inferior in operation, or not up to their promised functions, the competent agencies in charge
of software, according to the specific situations, have the authority to decide either to restrict or forbid their importation or
local production.

Article Eighteen Production of pirated software, software for deciphering secret and software with the main function of removing technology-protection
measures are prohibited. Production of software containing contents listed in article 4 of this regulation is prohibited.

Article Nineteen Laser-disc producers approved by the competent agencies are not allowed to produce software items that have not been
registered or filed.

PART FOUR MANAGEMENT OF SOFTWARE PRODUCTS

Article Twenty The management of software products mainly takes the form of agency. Agency agreements in written form shall be signed
between agents (sellers of software products) and principals (developers and producers of software products), and between general
agents and sub- agent. Agency agreements shall specify the authority limit, geographical limit, time limit and technical services
of the agency relationship, and other necessary contents stipulated by the Ministry of Electronic Industry. Developers and producers
may also directly engage in the sale of their software products.

Article Twenty-One Agents are required to put up their agency qualification certificates in a conspicuous position in their business
places. The certificates shall include he terms of reference, time limit, geographical limit of agency and agency grading, etc.,
which are to be accordingly conveyed in the advertisements and other means of publicity run by the agent.

Article Twenty-Two Managing institution of software products shall conduct he management in the form of licensing. A written licensing
contract shall be signed between the managing and producing institutions. Managing institutions shall notify users to consult licensing
files before the sale of software products, and require them to indicate whether to give their approval.

Article Twenty-Three The software sellers shall sell the software products according to the stipulations of Article 15 and Article
16 and inform the user of the content, means, the fees and the provider of the relevant technical services in written form or on
file. In case providers of technical services are not specified, the software sellers shall be regarded as the providers of the relative
technical services. In case there is no indication of the extra service charges and the specified sum shall be regarded that the
relative charges have been included in the price of the products.

Article Twenty-Four No organizations are permitted to deal in software products which have not been registered and filed or software
products are with contents provide by Article 4 of this regulation or sell or provide free-of-charge pirated software products deciphering
secrets.

Article Twenty-Five Software products provided together with hardware, such as computers, shall comply with the relative stipulations
of this regulation.

Article Twenty-Six The testing edition of the software products shall be marked clearly and provided free of charge, and shall not
be sold for profit.

Article Twenty-Seven The Software Product Management Departments are enpost_titled to supervise and inspect such activities concerning
software products as R

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGES ON ISSUES RELATING TO ADJUSTMENT ON THE POLICIES FOR MANAGEMENT OF THE FOREIGN EXCHANGE ACCOUNTS IN CURRENT ACCOUNTS UNDER INTERNATIONAL CONTRACTING PROJECTS

The State Administration of Foreign Exchanges

Circular of the State Administration of Foreign Exchanges on Issues Relating to Adjustment on the Policies for Management of the Foreign
Exchange Accounts in Current Accounts under International Contracting Projects

HuiFa [2003] No.90

August 5, 2003

Bureaus and departments of state administration of foreign exchanges of the provinces, autonomous regions and municipalities directly
under the Central Government, branches of the Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, as well as designated banks of foreign
exchanges:

On October 15, 2002, the SAFE promulgated and implemented the Circular of the State Administration of Foreign Exchanges on Issues
Relating to Further Adjustment on the Policies for Management of the Foreign Exchange Accounts in Current Accounts (HuiFa [2002]
No. 87), decided to repeal the restrictions for separate opening of the foreign exchange accounts in current accounts for Chinese-invested
enterprises, combined the settlement accounts of foreign exchanges and special accounts into the foreign exchange accounts in current
accounts and uniformly adopted the quota management over the foreign exchange accounts in current accounts and the management policies
for unification of the foreign exchange accounts in current accounts for both Chinese-invested and foreign-invested enterprises.
In view of the implementation of the above-mentioned policies, the new policies have facilitated the operation activities of enterprises
in the market economic conditions, reduced the operation costs of the enterprises, promoted the reforms on the system of settlement
and sales of foreign exchanges, thus obtaining good results. In order to keep on promoting the reforms on the management policies
for the foreign exchange accounts in current accounts, and adapt to the demands for the enterprises in improving their international
competitiveness in the market economic activities, the SAFE has decided to make proper adjustment on the policies for the management
of the foreign exchanges in current accounts under international contracting projects. Here is to notify you of the following issues
concerned:

The foreign exchange accounts in the current accounts relating to the following items shall be listed for management in the foreign
exchange accounts of current accounts for special sources and designated usages, with the quota verified at 100% of the foreign exchange
revenues.

(I)

foreign exchange accounts in the current accounts for international contracting projects and international labor;

(II)

foreign exchange accounts in the current accounts for international ocean shipping and shipping forwarding and cargo forwarding

(III)

foreign exchange accounts in the current accounts for international bid invitation;

(IV)

foreign exchange accounts in the current accounts for provisional collection and payment to be transferred to other domestic institutions
or individuals upon overseas revenue of foreign exchanges.

II.

The domestic institutions that have opened foreign exchange accounts in the current accounts in compliance with the provisions of
Article 1 of the Circular may apply with the branches of local foreign exchange administration (hereinafter referred to as the foreign
exchange administration) for adjustment of their quota upon the implementation of the Circular, and the foreign exchange administration
shall handle with the formalities for verification of the alteration of the foreign exchange accounts in the current accounts according
to the provisions of the Circular.

III.

The domestic institutions eligible for the provisions of Article 1 of the Circular that have not opened foreign exchange accounts
in the current accounts may apply with the foreign exchange administration for opening of such accounts according to the actual requirements,
and the foreign exchange administration shall verify and approve for their opening of accounts and verify and determine their account
quota.

IV.

When verifying and approving for opening of foreign exchanges accounts in current accounts or adjusting the account quota of domestic
institutions according to the provision of Article 1 of the Circular by the bureaus and branches of foreign exchange administration,
the total quota of the foreign exchanges accounts in current accounts under their jurisdiction may exceed the total quota of the
same jurisdiction verified by the SAFE; and the SAFE will newly adjust and distribute the total quota of the jurisdiction of the
bureaus and branches based on the adjustment on the policies for the management of the foreign exchanges accounts in current accounts.

In terms of the policies for the management of other foreign exchanges accounts in current accounts not mentioned in the Circular,
the Circular of the State Administration of Foreign Exchanges on Issues Relating to Further Adjustment on the Policies for Management
of the Foreign Exchange Accounts in Current Accounts and the Implementation Rules for the Management of the Foreign Exchange Accounts
in Current Accounts of Domestic Institutions shall apply.

VI.

The Circular shall come into force on September 1, 2003 and in case of any discrepancy between the previous provisions and the Circular,
the Circular shall prevail.

Upon the receipt, the bureaus shall distribute the Circular to the subordinate sub-bureaus, designated banks of foreign exchanges
and the relevant units as soon as possible, and by the end of September 2003, submit the adjustment on the quota of the foreign exchange
accounts under currents accounts of their jurisdiction to the Management Department of Current Accounts under the SAFE. The designated
Chinese-invested banks of foreign exchanges shall distribute the Circular to their subordinate branches and sub-branches as soon
ass possible upon receipt of the Circular. In case of any problems encountered during enforcement, please feedback in timely to the
Management Department of Current Accounts under the SAFE.

The State Administration of Foreign Exchanges
2003-08-05

MEASURES FOR ELECTION OF DEPUTIES FROM THE CHINESE PEOPLE’S LIBERATION ARMY TO THE NATIONAL PEOPLE’S CONGRESS AND LOCAL PEOPLE’S CONGRESSES AT OR ABOVE THE COUNTY LEVEL

The Measures for Election of Deputies from the Chinese People’s Liberation Army to the National People’s Congress and Local People’s
Congresses at or Above the County Level

CHAPTER I GENERAL PROVISIONS CHAPTER II ELECTION COMMITTEES CHAPTER III DECISION ON AND ALLOCATION OF THE NUMBER OF DEPUTIES CHAPTER
IV ELECTORAL DISTRICTS AND ELECTORAL UNITS CHAPTER V NOMINATION OF CANDIDATES FOR DEPUTIES CHAPTER VI ELECTION PROCEDURE CHAPTER
VII SUPERVISION OVER AND RECALL OF DEPUTIES AND BY-ELECTION CHAPTER VIII SUPPLEMENTARY PROVISIONS

Article 1 The Measures are enacted in accordance with the relevant provisions of the Constitution of the People’s Republic of China and the
Electoral Law of the National People’s Congress and Local People’s Congresses of the People’s Republic of China.

Article 2 Members of the Chinese People’s Liberation Army on active service and other persons who take part in election in the PLA shall, according
to these Measures, elect their deputies to the National People’s Congress or local people’s congresses at or above the county level.

Article 3 An election committee shall be established for the PLA as a whole and for any PLA unit at or above the regimental level.

The PLA Election Committee shall direct the election work of the entire PLA. Election committees at other levels shall conduct the
election work of the units at their own levels respectively.

Article 4 The servicemen committees of companies and other grassroots units shall conduct the election work of their own units.

Article 5 Members of the PLA on active service, persons who have retired from active service and for whom arrangements have been made in the
PLA or who are waiting to be transferred to local governments for arrangements, workers and office staff serving in the PLA, and
other persons who are administratively affiliated to the PLA, shall take part in election in the PLA.

Family members of officers who live together with the officers may, with the approval of the election committee or the servicemen
committee, take part in election in the PLA, if it is difficult for them to take part in local election because the residential area
of the local inhabitants is far from the place where the PLA unit is stationed.

Article 6 PLA representatives stationed in civilian factories or railway, water transport or scientific research institutions, and PLA members
studying at civilian colleges and schools may take part in local election.

Article 7 All the persons listed in Article 5 of these Measures who have reached the age of 18 shall qualify as voters and have the right to
vote or stand for election, regardless of ethnic status, race, sex, occupation, family background, religious belief, education, property
status or length of residence.

Persons who have been deprived of political rights according to law shall have no right to vote or stand for election.

Persons who suffer from mental illness and are incapable of exercising their electoral rights, when verified by an election committee
as such, shall not take part in election.

Article 8 The members composing the PLA Election Committee shall be subject to approval of the Standing Committee of the National People’s
Congress. The members composing the election committee at any other level shall be subject to approval of the election committee
at the next higher level.

Election committees at lower levels shall be subject to the direction of election committees at higher levels.

Article 9 The PLA Election Committee shall be composed of nine to fifteen members, including one chairman and one to three vice-chairmen. An
election committee at any other level shall be composed of five to eleven members, including one chairman and one or two vice-chairmen.

Article 10 The election committee at or above the regimental level shall organize and guide the election work of the subordinate units, and
do the following:

(1) examine the qualifications of the delegates to the servicemen congress;

(2) fix the date for election;

(3) publish the list of candidates for deputies to the people’s congress;

(4) preside over balloting at the servicemen congress or the servicemen assembly at the corresponding level; and

(5) preside over the servicemen congress or the servicemen assembly when recalling deputies to the people’s congress or holding a
by-election and accept resignations of deputies.

Article 11 The election committee at any level shall establish an office to handle specific routine matters related to election at that level.

The office shall be affiliated to the political department, and its staff members shall be determined by the election committee itself.

CHAPTER III DECISION ON AND ALLOCATION OF THE NUMBER OF DEPUTIES

Article 12 The number of deputies to be elected from the PLA to the National People’s Congress shall be decided by the Standing Committee of
the National People’s Congress.

Article 13 The number of deputies to the National People’s Congress to be elected by the PLA general departments, units at the level of major
military command and the General Office of the Central Military Commission shall be allocated by the PLA Election Committee.

Article 14 The number of deputies to the local people’s congresses at or above the county level to be elected by PLA units stationed in different
places shall be decided by the standing committees of the people’s congresses of the places where the PLA units are stationed.

Matters concerning election shall be decided respectively by the provincial military command, the garrison command, the military subcommand
or the arm-the-people department through consultation with the standing committee of the people’s congress of the place where it
is stationed; where a major military command is located in a province, autonomous region or municipality directly under the Central
Government, such matters shall be decided exclusively by the major military command through consultation with the standing committee
of the people’s congress of the province, autonomous region or municipality directly under the Central Government.

CHAPTER IV ELECTORAL DISTRICTS AND ELECTORAL UNITS

Article 15 Deputies to the people’s congress at the county level from stationed PLA units shall be elected directly in the electoral district
by the PLA members on active service and other persons qualified to take part in election in the PLA who are stationed in that administrative
region. Electoral districts shall be zoned according to the distribution of the PLA units stationed in that administrative region.

The zoning of electoral districts shall be decided on the basis of one to three deputies to be elected from each electoral district.

Article 16 Deputies to be elected by stationed PLA units to the people’s congresses of cities divided into districts, autonomous prefectures,
provinces, autonomous regions and municipalities directly under the Central Government shall be elected at the servicemen congresses
convened by units at or above the regimental level.

Deputies to the National People’s Congress shall be elected at the servicemen congresses convened by the general departments, units
at the level of major military command and the General Office of the Central Military Commission.

Article 17 Delegates to the servicemen congress of the unit at or above the divisional level shall be elected at the servicemen congress at
the next lower level. Where no servicemen congress is held by the unit at the next lower level, the delegates shall be elected at
the servicemen assembly.

Delegates to the servicemen congress of the unit at the brigade or regimental level shall be elected at the servicemen assemblies
convened by the companies and other grassroots units.

Servicemen congresses shall be convened by election committees; servicemen assemblies shall be convened by election committees or
servicemen committees.

CHAPTER V NOMINATION OF CANDIDATES FOR DEPUTIES

Article 18 Candidates for deputies to be elected by the PLA to the National People’s Congress and local people’s congresses at or above the
county level shall be nominated on the basis of electoral districts or electoral units.

Organizations of the Communist Party of China at various levels in the PLA may recommend candidates for deputies. A group of at least
ten voters or ten delegates of the servicemen congress may also recommend candidates. Those who submit recommendations shall provide
information to the election committee or the servicemen committee on the backgrounds of the candidates.

Article 19 The number of candidates for deputies shall be greater than the number of deputies to be elected.

The number of candidates for deputies to be directly elected by the voters shall be from one-third to one hundred percent greater
than the number of deputies to be elected; the number of candidates for deputies to be elected by the servicemen congress shall be
from 20 to 50 percent greater than the number of deputies to be elected.

Article 20 The election committee or the servicemen committee shall collect the list of candidates for deputies directly elected by the voters
and publish it, 20 days prior to the date of election, for repeated deliberation, discussion and consultation by the voters of the
electoral district, and shall, in accordance with the opinion of the majority of voters, decide upon a formal list of candidates
to be made public five days prior to the date of election.

When the servicemen congress at or above the regimental level is to elect deputies to the people’s congress, the time for nominating
and deliberating candidates for such deputies shall not be less than two days. The election committee at the said level shall print
and distribute the list of candidates for deputies nominated according to law to all the delegates to the servicemen congress for
deliberation and discussion. If the number of nominees conforms to the proportion for competitive election as provided in Article
19 of these Measures, balloting shall be held directly. If the number of nominees exceeds the maximum proportion for competitive
election as provided in Article 19 of these Measures, preliminary election shall be held. By order of the number of votes that the
nominees have obtained in the preliminary election, a formal list of candidates shall be decided upon in agreement with the specific
proportion for competitive election as is determined by the servicemen congress at the said level.

Article 21 When a servicemen congress is to elect deputies to the National People’s Congress and local people’s congresses at or above the county
level, the candidates for deputies shall not be limited to the current delegates to the servicemen congress.

Article 22 The election committee or the servicemen committee shall give information about the candidates’ backgrounds.

Organizations or individuals may, at group meetings of voters or of delegates to the servicemen congress, give information about backgrounds
of the candidates they nominate. However, it must stop on the day of election.

Article 23 Where deputies are to be directly elected, the election in each electoral district shall be conducted by convening servicemen assembly
or setting up polling stations or providing mobile polling boxes. Balloting shall be presided over by the servicemen committee or
the election committee.

Balloting to be held at the servicemen congress shall be presided over by the election committee.

Article 24 Deputies from the PLA to the National People’s Congress and local people’s congresses at or above the county level shall be elected
by secret ballot.

A voter who cannot fill out his ballot due to disability or other reasons may ask another person he trusts to do it for him.

Article 25 A voter who is absent during the time of an election may, with the approval of the servicemen committee or the election committee,
entrust another voter with a proxy vote. A voter shall not stand proxy for more than three persons.

Article 26 A voter may vote for or against a candidate for deputy and may vote instead for any other voter or abstain.

Article 27 When balloting has been concluded, scrutineers and vote- counters elected by the voters or by the delegates to the servicemen congress,
and members of the election committee or of the servicemen congress shall check the number of people who voted against the number
of votes cast and make a record of it; the record shall be signed by scrutineers.

Article 28 An election shall be null and void if the number of votes cast is greater than the number of people who voted, and it shall be valid
if the number of votes cast is equal to or less than the number of people who voted.

A ballot shall be null and void if the number of candidates voted for is greater than the number of deputies to be elected, and it
shall be valid if the number of candidates voted for is equal to or less than the number of deputies to be elected.

Article 29 In a direct election, the election shall be valid if more than half of all the voters in an electoral district cast their votes.
Candidates for deputies shall be considered elected only when they have obtained more than half of the votes cast by the voters who
take part in the election.

In an election held by the servicemen congress, candidates for deputies shall be considered elected only when they have obtained more
than half of the votes cast by all the delegates.

Article 30 Where the number of the candidates who have obtained more than half of the votes exceeds the number of deputies to be elected, the
ones who have obtained more votes shall be considered elected. Where the number of votes for some candidates is tied, making it impossible
to determine the ones to be elected, another balloting shall be conducted for these candidates to resolve the tie, and the ones who
have obtained more votes shall be considered elected.

Where the number of elected deputies who have obtained more than half of the votes is less than the number of deputies to be elected,
another election shall be held to make up the difference. When another election is held, the name list of candidates shall, by order
of the number of votes they have obtained in the first balloting, be determined in accordance with the proportion for competitive
election as provided in Article 19 of these Measures. If only one deputy is to be elected, the number of candidates shall be two.

When another election is held to elect deputies to a people’s congress at the county level in accordance with the provisions in the
preceding paragraph, the candidates who have obtained more votes shall be considered elected; however, the number of the votes they
have obtained shall not be less than one-third of the votes cast. When another election is held by the servicemen congress at or
above the regimental level to elect deputies to the people’s congresses of a city divided into districts, an autonomous prefecture,
province, autonomous region or municipality directly under the Central Government or to the National People’s Congress, the candidates
shall be considered elected only when they have obtained more than half of the votes cast by all the delegates to the servicemen
congress.

Article 31 The election committee or the servicemen committee shall determine, in accordance with the provisions in these Measures, whether
or not the result of an election is valid and shall announce it accordingly.

CHAPTER VII SUPERVISION OVER AND RECALL OF DEPUTIES AND BY-ELECTION

Article 32 All deputies elected from the PLA to the National People’s Congress and local people’s congresses at or above the county level are
subject to supervision by the voters and the electoral units which elected them. Both the voters and electoral units shall have the
right to recall the deputies elected by them.

Article 33 With respect to deputies to the people’s congress at the county level, a group of at least ten voters in the electoral district may
submit a demand in writing to the election committee at the brigade or regimental level for the recall of a deputy they elected.

In a demand for the recall of a deputy, the reasons for the recall shall be clearly stated. The deputy proposed to be recalled shall
have the right to defend himself at the servicemen assembly or may present a written statement in his own defence.

The election committee at the brigade or regimental level shall print and distribute the demand for the recall of a deputy and the
written defence of the deputy proposed to be recalled to the voters in the electoral district from which he was elected.

When the demand for the recall is put to vote, the election committee at the brigade or regimental level shall preside over it.

Article 34 When a servicemen congress is in session, an election committee at or above the regimental level may submit a proposal for the recall
of a deputy to the people’s congress who was elected by the servicemen congress. In such a proposal, the reasons for the recall shall
be clearly stated.

When a servicemen congress is in session, the deputy proposed to be recalled shall have the right to defend himself or submit a written
defence. The proposal for the recall shall be put to vote after it is examined by the congress.

Article 35 The proposal for the recall of a deputy shall be voted by secret ballot.

Article 36 The recall of a deputy to the people’s congress at the county level shall be subject to adoption by a majority vote of the voters
in the electoral district from which the deputy was elected.

The recall of a deputy elected at a servicemen congress to the people’s congress shall be subject to adoption by a majority vote of
the delegates to that servicemen congress.

The resolution on the recall shall be reported for the record to the standing committee of the people’s congress at the corresponding
level and to the PLA election committee at the next higher level.

Article 37 Deputies elected from the PLA to the people’s congress of a city divided into districts, an autonomous prefecture, province, autonomous
region or municipality directly under the Central Government or to the National People’ Congress may submit their written resignations
to the election committees of the electoral units that elected them. Deputies elected from the PLA to the people’s congress at the
county level may submit their written resignations to the election committees or servicemen committees of the electoral districts
from which they were elected. When the request of a deputy for resignation is granted by a servicemen congress or by a servicemen
assembly, the matter shall be reported for the record to the standing committee of the people’s congress at the corresponding level
and to the PLA election committee at the next higher level.

Article 38 If a deputy’s post becomes vacant for some reason during his term of office, the electoral district or electoral unit which elected
him shall hold a by-election to fill the vacancy.

If a deputy elected from the PLA to a local people’s congress at or above the county level is transferred out of his administrative
region during his term of office, he is automatically disqualified as deputy and a by-election shall be held to fill the vacancy.

When a by-election is conducted to fill the vacant posts of deputies, the number of candidates may be greater than or equal to the
number of deputies to be elected.

CHAPTER VIII SUPPLEMENTARY PROVISIONS

Article 39 Expenses for elections in the PLA shall be covered by military expenditure.

PROVISIONS ON THE ADMINISTRATION OF THE DEVELOPMENT AND OPERATION OF URBAN REAL ESTATE

Provisions on the Administration of the Development and Operation of Urban Real Estate

CHAPTER ONE GENERAL PROVISIONS CHAPTER TWO REAL ESTATE DEVELOPERS CHAPTER THREE REAL ESTATE DEVELOPMENT AND CONSTRUCTION CHAPTER FOUR
REAL ESTATE OPERATION CHAPTER FIVE LEGAL RESPONSIBILITIES CHAPTER SIX SUPPLEMENTARY PROVISIONS

Article One In order to standardize the real estate development and operation behaviors, strengthen the supervision and administration
of urban real estate development and operation activities and promote and safeguard the healthy development of the real estate sector,
these articles are hereby formulated in accordance with the Urban Real Estate Administrative Law of the People’s Republic of China.

Article Two Real estate development and operation referred to in these articles shall mean the behaviors of real estate developers
who carry out infrastructural facilities construction, housing construction and transfer real estate development projects or sell
or lease commercial housing on the state-owned land within an urban planning zone.

Article Three Real estate developers and operators shall, in line with the principle of combining economic, social and environmental
returns, develop an overall plan, have a rational layout, conduct comprehensive development and construct supporting facilities.

Article Four The competent construction administrative authorities under the State Council shall be responsible for the work of supervising
and administering the real estate development and operation activities throughout the country.

The competent real estate development authorities of local people’s governments above the county level shall be responsible for the
work of supervising and administering the real estate development and operation activities within their respective administrative
jurisdiction.

The competent land administration authorities of the people’s government above the county level shall be responsible for the work
of land administration related to real estate development and operation in conformity with relevant laws and administrative regulations.

CHAPTER TWO REAL ESTATE DEVELOPERS

Article Five To set up a real estate developer, in addition to the need to comply with the conditions for the establishment of an
enterprise as stipulated in relevant laws and administrative regulations, the following conditions shall be met:

(1) The registered capital shall exceed RMB 1 million yuan;

(2) There shall be more than four full-time technical personnel with qualification certificates in the real estate major or the construction
engineering major and more than two full-time accountants with qualification certificates;

The people’s government at the provincial, autonomous and directly administered municipality level may, in line with local realities,
formulate provisions that exceed the conditions contained in the above paragraph regarding the registered capital and technical professionals
for the establishment of a real estate developer.

Article Six To set up a real estate developer involving foreign investment, in addition to the need to comply with the provisions
of Article Five of these rules, it shall also be imperative to go through relevant examination and approval formalities according
to the provisions of laws and administrative regulations governing foreign- invested enterprises.

Article Seven To set up a real estate developer, an application for registration shall be filed with the administrative authorities
for industry and commerce of the people’s government above the county level. The administrative authorities for industry and commerce
shall, within 30 days upon receipt of the application, grant registration if the conditions as stipulated in Article Five of these
rules are met; reasons for the refusal of registration shall be explained if such conditions are not met.

When the administrative authorities for industry and commerce examine the application for registration for the establishment of a
real estate developer, they shall solicit the opinion of the real estate development authorities at the same level.

Article Eight Within 30 days upon obtaining the business license, a real estate developer shall present the following documentation
for recordation purposes to the real estate development authorities where the registration authorities are located:

(1) A copy of the business license;

(2) The articles of association of the enterprise;

(3) The certificate of investment verification;

(4) The identity certificate of the legal representative of the enterprise;

(5) The qualification certificates and employment contracts of its technical professionals.

Article Nine The real estate development authorities shall, based upon the assets, technical professionals and development and operation
performance of a real estate developer, verify and determine the grade of qualification and quality of a recorded real estate developer.
The real estate developer shall, in line with the verified and determined grade of qualification and quality, undertake corresponding
real estate development projects. The specific methods shall be formulated by the construction administrative authorities under the
State Council.

CHAPTER THREE REAL ESTATE DEVELOPMENT AND CONSTRUCTION

Article Ten In determining a real estate development project, it shall be imperative to comply with the requirements as contained
in the overall plan for land use, the annual plan for land for construction and the annual plan for urban planning and real estate
development. If, in compliance with the State’s relevant provisions, the approval of the planning authorities is required, it shall
be imperative to make a submission for the approval of the planning authorities and incorporate the project into the annual fixed
assets investment plan.

Article Eleven In determining a real estate development project, it shall be imperative to persist in the principle of combining renovation
of existing areas with construction of new areas, attach importance to the development of sections where the infrastructural facilities
are weak, traffic is jammed, environmental pollution is serious and dilapidated housing is centered, protect and improve the urban
ecological environment, and protect historical and cultural legacy.

Article Twelve The land used for real estate development shall be obtained by transfer, with the exception of cases whereby the provisions
of laws and the State Council permit the adoption of the allocation approach.

Prior to the transfer or allocation of the land use right, the urban planning administrative authorities and the real estate development
authorities of the local people’s government above the county level shall present their written opinions regarding the following
items and form one of the basis for the transfer or allocation of the land use right:

(1) The nature, scale and development tenure of the real estate development project;

(2) The designing conditions for urban planning;

(3) The requirements for the construction of infrastructural and public facilities;

(4) Definition of the property right of infrastructural facilities after completion; and

(5) The requirements for relocation compensation and resettlement of the project.

Article Thirteen For a real estate development project, the equity fund system shall be established; the equity fund shall account
for no less than 20% of the total project investment.

Article Fourteen Development and construction of a real estate development project shall be accompanied by an overall plan for supporting
infrastructural facilities and such a plan shall be implemented based on the principle of the underground portion having priority
over the ground portion.

Article Fifteen The real estate developer shall develop and construct a project in compliance with the purpose of land use and the
time limit for development startup as agreed upon in the contract on the transfer of the land use right. Failure to start up the
project development one full year after the expiry of the time limit agreed upon in the transfer contract may lead to the imposition
of a land idling fee amounting to less than 20% of the payment for the transfer of the land use right; if development fails to start
two full years after expiry, the land use right may be taken back without compensation, with the exception, however, of the situations
in which delays are caused by force majeure, action of the government or relevant government authorities, or early stage work necessary
for starting the development process.

Article Sixteen The real estate project, developed and constructed by a real estate developer, shall conform to the provisions of
relevant laws and regulations, technical standards for construction engineering quality, safety standards, construction engineering
prospecting, designing and execution, and contractual stipulations.

The real estate developer shall be responsible for the quality of a real estate project that it develops and constructs.

Prospecting, designing, executing and supervising agencies shall undertaken corresponding responsibilities on the basis of the provisions
of relevant laws and regulations or contractual stipulations.

Article Seventeen A completed real estate development project can be delivered for use only after passing the acceptance test; no
delivery for use shall be made without the acceptance test or without having passed the acceptance test.

Upon completion of a real estate development project, the real estate developer shall file an application for the acceptance test
with the real estate development authorities of the local people’s government above the county level where the project is located.
The real estate development authorities shall, within 30 days after receipt of the application for the acceptance test, organize
such relevant authorities or agencies as engineering quality supervision, planning, fire prevention and civil air defense to conduct
the acceptance test regarding contents involving public safety.

Article Eighteen Upon completion of a cluster real estate development project like a small residential section, a comprehensive acceptance
test shall be conducted in line with the provisions of the Article Seventeen of these rules and the following requirements:

(1) The situation regarding the implementation of the urban planning and designing conditions;

(2) The situation regarding the supporting infrastructural and public facilities as required by urban planning;

(3) The situation regarding the acceptance test of the engineering quality of individual engineering projects;

(4) The situation regarding the implementation of the relocation and resettlement; and

(5) The situation regarding property management.

If cluster real estate development projects like a small residential section are developed in phases, the acceptance test may be conducted
in phases.

Article Nineteen The real estate developer shall record the main events in the course of construction of a real estate development
project in the real estate development project manual and submit it on a regular basis to the real estate development authorities
for recordation purposes.

CHAPTER FOUR REAL ESTATE OPERATION

Article Twenty To transfer a real estate development project, the conditions as contained in Articles Thirty-eight and Thirty-nine
of the Urban Real Estate Administrative Law of the People’s Republic of China shall be met.

Article Twenty-one To transfer a real estate development project, the transferor and the transferee shall, within 30 days after the
completion of the formalities for the change in registration of the land use right, present the contract on the transfer of the real
estate development project to the real estate authorities for recordation.

Article Twenty-two When a real estate developer transfers a real estate development project, if the relocation compensation and resettlement
have not been finished, the rights and obligations in the original relocation compensation and resettlement contract shall accordingly
be transferred to the transferee. The project transferor shall notify the relocated person in written form.

Article Twenty-three A real estate developer pre-sells commercial housing shall comply with the following conditions:

(1) It has paid all the fee for the transfer of the land use right and obtained the certificate of the land use right;

(2) It has the construction engineering planning license and the execution license;

(3) Calculated according to the pre-sold commercial housing made available, it has inputted over 25% of the total investment for construction
of the project and determined the execution schedule and the date for completion and delivery; and

(4) It has gone through formalities for pre-sale registration and obtained the commercial housing pre-sale permit.

Article Twenty-four When applying for commercial housing pre-sale, a real estate developer shall submit the following documentation:

(1) The certificates as stipulated in Sections (1) through (3) of Article Twenty-three of these rules;

(2) The business license and the certificate of qualification and quality;

(3) The engineering execution contract;

(4) The floor-by-floor plane map of the commercial housing to be presold; and

(5) The program for the pre-sale of commercial housing.

Article Twenty-five The real estate development authorities shall, within 10 days upon receipt of the application for commercial housing
pre-sale, make a reply agreeing or disagreeing to the pre-sale. In case of agreement to presale, a commercial housing pre-sale permit
shall be issued; and in case of disagreement to pre-sale, reasons shall be explained.

Article Twenty-six The real estate developer shall not make any untruthful advertisement; in the commercial housing pre-sale advertisement,
the document number of the commercial housing pre-sale permit.

Article Twenty-seven In the course of commercial housing pre-sales, the real estate developer shall show the commercial housing pre-sale
permit.

The real estate developer shall, within 30 days upon the signing of a commercial housing pre-sale contract, go to the real estate
development authorities and the land administrative authorities of the people’s government above the county level where the commercial
housing is located.

Article Twenty-eight For commercial housing sales, both parties shall sign a written contract. The contract shall stipulate the floor
space, usable floor area, price, delivery date, quality requirements, property management method and default responsibilities for
the commercial housing.

Article Twenty-nine Should the real estate developer entrust an intermediary to act as agent for commercial housing sales, it shall
issue an entrustment certificate to the intermediary. When the intermediary sells the commercial housing, it shall show to purchaser
of commercial housing the relevant certificates for the commercial housing and the entrustment certificate for the commercial housing
sales.

Article Thirty The price for the transfer of the real estate development project and for the sales of commercial housing shall be
negotiated through consultation between the parties concerned; however, the price for residential housing enpost_titled to the State’s
preferential policies shall be the government’s guidance price or the government-set price.

Article Thirty-one The real estate developer shall, when the commercial housing is delivered for use, present the purchaser with the
residential quality assurance certificate and the residential use instruction book.

The residential quality assurance certificate shall clearly list the quality grade verified by the engineering quality supervisory
agency, scope of warranty, period of warranty and the warranty agency. The real estate developer shall undertake the commercial housing
warranty responsibilities in line with the provisions contained in the residential quality assurance certificate.

Within the warranty period, if the original use functions are affected and losses are incurred to the purchaser due to the warranty
of the commercial housing conducted by the real estate developer, the developer shall undertake compensation responsibilities according
to law.

Article Thirty-two After commercial housing is delivered for use, if the purchaser thinks that the quality of the major structure
is sub- standard, an application may be filed with the engineering quality supervisory agency for re-verification. If verification
proves that the quality of the major structure is indeed sub-standard, the purchaser has the right to ask for refunding; if losses
have been incurred to the purchaser, the real estate developer shall under compensation responsibilities according to law.

Article Thirty-three The purchaser of pre-sold commercial housing shall, within 90 days upon delivery for use of the commercial housing,
go through the formalities for change in the land use right and the registration of house ownership; the purchaser of spot commercial
housing shall, within 90 days upon signing of the sales contract, go through the formalities for change in the land use right and
the registration of house ownership. The real estate developer shall assist the purchaser of the commercial housing in going through
the formalities for change in the land use right and the registration of house ownership and provide necessary certificates.

CHAPTER FIVE LEGAL RESPONSIBILITIES

Article Thirty-four In case of unauthorized engagement in real estate development and operation in violation of the provisions of
these rules and without the business license, the administrative authorities for industry and commerce of the people’s government
above the county level shall order the termination of real estate development and operation activities, confiscate the illegal gains,
and decide at its discretion to impose a fine amounting to less than five times the illegal gains.

Article Thirty-five In case of unauthorized engagement in real estate development and operation in violation of the provisions of
these rules and without the certificate of qualification and quality or in excess of the certificate of qualification and quality,
the real estate development authorities of the people’s government above the county shall order a time limit for corrective measures
and impose a fine amounting to between RMB 50,000 yuan and RMB 100,000 yuan; if no corrective measures are taken after the deadline,
the administrative authorities for industry and commerce shall revoke its business license.

Article Thirty-six In case of delivery for use of housing which has not gone through the acceptance test in violation of these rules,
the real estate development authorities of the people’s government above the county shall order a deadline for the developer to go
through the formalities for the acceptance test; if such formalities are not gone through after the deadline, the real estate development
authorities of the people’s government above the county shall organize relevant authorities and agency to conduct the acceptance
test and impose a fine amounting to between RMB 100,000 yuan and RMB 300,000 yuan. If the acceptance test is not passed, punitive
measures shall be taken according to the stipulations of Article Thirty-seven of these rules.

Article Thirty-seven In case of delivery for use of housing which has not passed the acceptance test in violation of these rules,
the real estate development authorities of the people’s government above the county shall order repairs within a deadline and impose
a fine amounting to less than 2% of the total building cost of the housing delivered for use; if the act is serious in nature, the
administrative authorities shall revoke the license; if losses are incurred to the purchaser, compensation responsibilities shall
be undertaken; and, if serious casualties, accidents or other serious consequences have been caused and criminal offices committed,
the criminal liabilities shall be investigated and dealt with according to law.

Article Thirty-eight In case of unauthorized transfer of a real estate development project in violation of the stipulations of these
rules, the land administration authorities of the people’s government above the county shall order a termination of the law-breaking
activities, confiscate illegal gains and decide at its discretion to impose a fine amounting to less than five times the legal gains.

Article Thirty-nine In case of unauthorized pre-sale of the commercial housing in violation of the stipulations of these rules, the
real estate development authorities of the people’s government above the county shall order a termination of the law-breaking activities,
confiscate illegal gains and decide at its discretion to impose a fine amounting to less than 1% of the already collected pre-payments.

Article Forty When any State authorities employee neglect his duties, play favoritism and commit irregularities and abuse his powers,
if criminal offenses are committed, the criminal liabilities shall be investigated and dealt with according to law; if such acts
do not constitute criminal offenses, administrative punishments shall be meted out according to law.

CHAPTER SIX SUPPLEMENTARY PROVISIONS

Article Forty-one In terms of real estate development and operation on the state-owned land inside the urban planning zone and in
terms of the exercise of supervision and administration of real estate development and operation, these rules shall be used as references.

Article Forty-two The collectively-owned land within the urban planning zone can only be used for real estate development and operation
after such land has been appropriated and converted into state-owned land according to law.

Article Forty-three These rules shall go into effect as from the date of promulgation.

REGULATION ON THE CUSTOMS’ PROTECTION OF INTELLECTUAL PROPERTY RIGHT

Regulation of the PRC on the Customs’ Protection of Intellectual Property Right

CHAPTER I GENERAL PRINCIPLE CHAPTER II RECORD CHAPTER III APPLICATION CHAPTER IV PROCEDURE FOR INVESTIGATION AND PUNISHMENT CHAPTER
V LEGAL RESPONSIBILITY CHAPTER VI ATTACHMENT

Article 1 This regulation is formulated in accordance with concerned laws of the People’s Republic of China, in order to enforce the customs’
Protection of intellectual property right, promote exchange of foreign economy, trade, technology and culture, safeguard social public
interests.

Article 2 This regulation is applicable to intellectual property including copyright, patent and the right to exclusive use of Trade Marks,
which is relating to imported or exported goods and protected by the laws and administrative regulations of the people’s Republic
of China.

Article 3 Import or export of the goods is forbidden, as long as they infringe the intellectual property right protected by the laws and administrative
regulations of the people’s Republic of China (called infringing goods for short following).

Article 4 The customs of the People’s Republic of China enforce the protection of the intellectual property right relating to imported or exported
goods, exercise concerned power stimulated by the customs law of the People’s Republic of China.

Article 5 Consignees of imported goods or consigners of exported goods and their agent (called consignees or consigners by a joint name following)
shall declare honestly to the Customs the state of intellectual property relating to imported or exported goods and submit concerned
documents for verifying.

Article 6 If intellectual property right owners and their agents (called intellectual property owners by a joint name following) require the
customs to enforce the protection of their intellectual property relating to imported or exported goods, they shall report their
intellectual property right to the Customs for the record and file an application with the Customs to take protection measures when
they consider it necessary.

Article 7 When the Customs enforce the protection of intellectual property right, they shall keep the trade secrets of concerned parties.

Article 8 Intellectual property right owners shall submit written applications to the Customs when they apply for the records of the Customs’
protection of intellectual property right.

The application shall include:

(1) The name or the surname and personal name, registration place or nationality, domicile, legal representative and principal business
place of intellectual property owners.

(2) Registrative number, content and period of validity of registered trademark, number, content and period of validity of patent
of concerned content of copyright.

(3) Name and place of production of the goods relating to intellectual property.

(4) Persons authorized or licensed to use the intellectual property.

(5) The circumstances of principal importing or exporting customs, importer or exporter, principal features, prices of the goods relating
to intellectual property.

(6) The circumstances of the producer, importer or exporter, principal importing or exporting customs principal features, prices of
the known infringing goods.

(7) Other circumstances that the Customs General considers necessary to illustrate.

When the application is submitted, following documents shall be enclosed:

(1) Copy of identification card, transcript of registration certificate or copy attested by registration organs of intellectual property
owner.

(2) Copy of registration certificate of registered trademark, copy of announcement of transfer of registered trademark approved by
Trademark Bureau or use of trademark license contract entered in the records of Trademark Bureau, copy of patent certificate, transcript
of transfer of patent contract registered and announced by Patent Bureau, copy of use of patent license contract or certificate or
proof of copyright.

(3) Other documents that the Customs General consider necessary to be enclosed.

Article 9 The Customs shall notice the applicant whether the application is admitted to enter in the records within thirty days after receiving
all of the applying documents. If the Customs admit the record, they shall give record certificate of the customs’ protection of
intellectual property; If not, they should illustrate the reasons.

Article 10 The period of validity of the Customs’ protection of intellectual property right shall be seven years, counted from the day the record
is admitted by the Customs General.

Subject to the validity of intellectual property, intellectual property owner may apply for a renewal of record within six months
before the period of validity of the record the customs’ protection of intellectual property right expires. The period of validity
for each renewal of record shall be seven years.

The record of the customs’ protection of intellectual property right shall be invalid of no application for renewal has been filed
before the period of validity of the record of the customs’ protection of intellectual property expires or the legal protection period
of the right to exclusive use of trademark, patent or copyright expires.

Article 11 If the circumstances of the recorded intellectual property have changed, the intellectual property owner shall go through the formalities
of the change or cancel of record within ten days after the day when the authorities of intellectual authorities approve the change.

Article 12 Intellectual property right owners who have entered in the record of the Customs may submit to the Customs located in importing or
exporting place the application to take protection measures of intellectual property right when they find that the goods which are
suspected of infringing is to enter or leave the country.

Article 13 One shall submit written application of he require the customs to take protection measures of intellectual property.

The application shall include:

(1) Name of the intellectual property applied for protection, number of the Customs’ record.

(2) Name of the suspected infringer domicile legal representative, principal business place.

(3) Circumstances of the name, size of the suspected infringing goods.

(4) Circumstances of the port time, conveyance and consignee or consignor.

(5) concerned infringing proof.

(6) Measures the applicant requires the Customs to take.

(7) Other circumstances that the Customs consider necessary to submit.

Article 14 If the applicant requires the Customs to detain the suspected infringing goods, the applicant should submit guarantees equal to C.I.F.
of imported goods or F.O.B. of exported goods.

Article 15 If the intellectual property owner who requires the Customs to take protection measures of the intellectual property right hasn’t
enter in the records of the Customs General, he shall go through the formalities of the record of intellectual property in accordance
with Article 8 of these regulations when he applies with the customs.

Article 16 If the application isn’t in conformity with the relevant provisions of this chapter, the Customs will not accept it.

CHAPTER IV PROCEDURE FOR INVESTIGATION AND PUNISHMENT

Article 17

17. 1 If Customs, upon the petition of trademark or patent holder, decides to seize goods suspected of infringing the trademark or
patent, Customs must file a Customs Detaining Receipt and serve it on either the consignee or consignor of the goods and also notify
the petitioner in writing.

17. 2 The consignee or consignor of the seized goods has seven (7) days from the date of being served the Customs Detaining Receipt
to raise an objection to the customs seizure. The objection must be submitted in writing and explain the reasons they feel that their
goods do not violate any intellectual property rights. If no objection is filed within this seven (7) day period, the Customs Department
may conduct an investigation and depending on the outcome of the investigation, is enpost_titled to treat the seized goods as violating
a trademark or patent and deal with the goods accordingly. If the consignee or consignor submits an objection, Customs must immediately
notify the petitioner in writing that an objection has been made.

17. 3 The petitioner has fifteen (15) days from the date the written notification from the Customs Department is served, (as per Article
17. 1), to apply to the appropriate agency to deal with and commence an intellectual property infringement action in the People’s
Court.

Article 18

18. 1 Customs has the right to detain goods suspected of infringing intellectual property rights registered with them. If goods are
detained, the Customs Department must serve either the consignee or consignor with a Customs Detaining Receipt and also notify the
intellectual property owner in writing. If the intellectual property owner submits a written petition for intellectual property protection
within three (3) days following the Customs Department’s written notification of the detained goods, the matter will be handled in
accordance with Article 17 of this regulation.

Article 19

19. 1 A consignee or consignor of detained goods who maintains that his goods do not infringe any intellectual property rights, may
apply for clearance of the goods. A bailment bond in the amount equal to two (2) times the CIA import value of the goods or two (2)
times the FOB export value of the goods.

Article 20

20. 1 If Customs detains goods suspected of violating intellectual property rights under the procedure described in Articles 17

REGULATIONS ON CIVIL AVIATION SECURITY

Regulations on Civil Aviation Security of the People’s Republic of China

Whole document

Contents

Chapter I General Provisions

Chapter II Security Control in Civil Airport

Chapter III Security of Civil Aviation Operation

Chapter IV Security Inspection

Chapter V Penalty Provisions

Chapter VI Appendix

Chapter I General ProvisionsArticle 1

These Regulations are formulated for the purpose of safeguarding civilaviation activities against acts of unlawful interference,
maintaining theorder of civil aviation and ensuring the safety of civil aviation.Article 2

These Regulations are applicable to all civil aviation activities andto the units and individuals related to civil aviation activities
in theterritory of the People’s Republic of China.

These Regulations are applicable to civil aircraft possessing thenationality of the People’s Republic of China engaged in
civil aviationactivities outside the territory of the People’s Republic of China; unlessit is otherwise provided in international
treaties concluded orparticipated in by the People’s Republic of China.Article 3

Centralized management and division of responsibility shall beexercised in the work of civil aviation security.

The civil aviation public security department shall be responsible forthe centralized management, inspection and supervision
of the work ofcivil aviation security.Article 4

The local governments and civil aviation units concerned shallco-operate closely and safeguard civil aviation safety commonly.Article
5

Passengers, consignors, consignees and other persons entering anairport shall comply with the laws and regulations stipulated
for civilaviation safety control.Article 6

A civil airport operator and a civil aircraft operator shall fulfillthe following duties:

(1) Establish a civil aviation security programme of his own unit andreport to the competent civil aviation authorities under
the State Councilfor the record;

(2) Implement strictly the civil aviation security measures concerned;

(3) Carry out periodically civil aviation security training, andremove in time hidden dangers to the safety of civil aviation.

A foreign civil aviation enterprise operating air services to thePeople’s Republic of China shall submit its civil
aviation securityprogramme to the competent civil aviation authorities under the StateCouncil.Article 7

A citizen has the right to report to the civil aviation publicsecurity institute any premeditated seizure or destruction
of civilaviation aircraft or any other acts that endanger civil aviation safety.Article 8

Reward shall be given by the people’s government concerned or by thecompetent civil aviation authorities under the State Council
to a unit oran individual making outstanding contributions to safeguarding civilaviation safety.

Chapter II Security Control in Civil AirportArticle 9

The construction, modification or extension of civil airport(including the civil part in those airports joint-used by military
andcivil units) shall conform to the stipulations governing the constructionof civil airport security facilities of the competent
civil aviationauthorities under the State Council.Article 10

A civil airport shall be opened for use if it satisfies the securityconditions listed below:

(1) It has established an airport controlled area and is provided withfull-time security personnel;

(2) It has established protective fence and patrol passages up tostandard;

(3) It has established a security unit and is provided withcorresponding personnel and equipment;

(4) It has established a security facilities and is provided with thepersonnel and check-up equipments corresponding to the traffic
volume ofthe airport;

(5) It has established a full-time fire-fighting organization and isprovided with personnel and equipment in accordance with
the fire-fightinggrade of the airport;

(6) It has established a contingency plan and is provided withnecessary contingency rescue equipment.Article 11

The airpot controlled zone shall be divided, in accordance withsecurity requirements, into departure sterile area,
baggage sortingloading and unloading area, aircraft movement area, maintenance area andcargo storage area, etc. Security protection
facilities and distinct signsshall be set up respectively.Article 12

Strict security measures shall be established for the airportcontrolled area, and the area shall be of a closed type
and controlledseparately. The specific method of control shall be formulated by thecompetent civil aviation authorities under
the State Council.Article 13

All personnel and vehicles, while entering the airport controlledarea, must bear the airport controlled area pass and be
subject to theinspection of security personnel.

Airport controlled area pass shall be made, issued and controlled bythe civil aviation public security unit in accordance with
the regulationsconcerned of the competent civil aviation authorities under the StateCouncil.Article 14

In the aircraft movement area and the maintenance area, personnel andvehicles must follow the stipulated way. Vehicles and equipments
must beparked in designated positions. All personnel and vehicles must make wayfor aircraft.Article 15

The civil aircraft parked in an airport must be guarded by speciallyassigned persons; the departments concerned and their
working personnelmust strictly implement aircraft handing over and taking over procedure.Article 16

The following acts are prohibited in an airport:

(1) Climbing up and over (penetrate) or damage airport protectivefence and other security protection facilities;

(2) Hunting, herding, sunning grain or train vehicle driver in airportcontrolled zone;

(3) Entering airport controlled area without airport pass;

(4) Crossing aircraft runway or taxiway at will;

(5) Forcibly boarding or occupying an aircraft;

(6) Making a false report on dangerous situation and creatingconfusion;

(7) Any other acts disturbing the order in airport.

Chapter III Security of Civil Aviation OperationArticle 17

The carrier and its agent, in selling passenger ticket, must complywith the regulations concerned of the competent civil aviation
authoritiesunder the State Council; no passenger ticket shall be sold if notconforming to regulations.Article 18

The carrier, in performing the formalities for transportation, mustcheck up passengers and baggage in the aircraft.Article
19

The carrier must check the number of passengers when they board theaircraft.

The baggage of the passengers already checked in but failed to boardthe aircraft shall not be loaded or retained in the aircraft.

If a passenger gets off the aircraft midway, his baggage must beunloaded.Article 20

The carrier must assign special persons to supervise the baggage andcargo during the storage period on ground and transportation
period.Article 21

The unit which prepares the supplies and loads them must ensure thesafety of such supplies loaded into the aircraft.Article
22

The work of security of an aircraft in flight shall be the unifiedresponsibility of the pilot-in-command.

The aviation security officer shall undertake the concrete work ofsecurity under the leadership of the pilot-in-command.

The pilot-in-command, aviation security officer and other crew membersshall strictly fulfill their duties and protect the safety
of the civilaircraft and of the persons and property carried therein.Article 23

The pilot-in-command, in performing his duties, may exercise thefollowing powers:

(1) Before the aircraft takes off he may refuse to take off if hediscovers that the party concerned failed to take the
security measuresprescribed in the Regulations for the aircraft;

(2) During the flight he may take necessary measures of restraintagainst a person who disturbs the order in the aircraft,
interferes withthe normal work of crew members and disregards any warning;

(3) During the flight he may take necessary measures against theseizure or destruction of the aircraft or any other
acts harmful toaviation safety;

(4) During the flight he can make the final decision regarding thedisposal of the aircraft in case of extraordinary circumstances.Article
24

The following acts interfering with the order of civil aviationoperation are prohibited:

(1) Scalp the certificate for purchasing ticket, passenger ticket andthe effective reservation certificate of air transport enterprise;

(2) Purchase ticket and go aboard an aircraft by using the identitycard of another person;

(3) Taking advantage of the passenger ticket to check or bring alongthe baggage not belonging to the passenger himself.

(4) Load into the aircraft articles which have not gone throughsecurity inspection or for which no other security measures
have beentaken.Article 25

The following acts are prohibited in an aircraft:

(1) Smoke in no smoking area;

(2) Race to occupy seat or baggage compartment (rack);

(3) Fight, get drunk, or pick a quarrel and make trouble;

(4) Steal, damage deliberately or move without authorizationlifesaving articles or appliances;

(5) Commit other acts endangering flight safety and disturbing theorder in aircraft.

Chapter IV Security InspectionArticle 26

Passengers and other persons aboard the aircraft, together with thebaggage they carry, must be subject to security inspection
except thoseexempted from inspection as prescribed by the State Council.

A person who refuses to go through security inspection shall be deniedboarding and bear the losses himself.Article 27

The security inspection personnel shall examine the ticket, identitycard and boarding pass of the passenger and carry
out the securityinspection of the passenger and his baggage with instrument or manually;the inspection may be stricter if necessary.

The passengers already gone through security inspection shall wait inthe departure sterile area for boarding the aircraft.Article
28

The working personnel (including crew members) and the articlesbrought along by them shall be subject to security
inspection whileentering the departure sterile area.

The persons meeting or seeing off the passengers as well as otherpersonnel must not enter the departure sterile area.Article
29

Diplomatic mail bags are exempted from security inspection. Diplomaticcouriers and other articles brought along by them shall
be subject tosecurity inspection, except those otherwise provided in internationaltreaties concluded or participated in by
the People’s Republic of China.Article 30

The cargo for air transportation must go through security inspectionor other security measures.

The cargo consignor must not consign an article with a false name orsecretly include dangerous articles among the goods.Article
31

Air mail must go through security inspection. In case a suspiciousmail is discovered, the security inspection department
and the postaldepartment shall jointly open it for examination and handling.Article 32

Unless otherwise provided by the State Council, the persons flying ina civil aircraft are prohibited from carrying with them
or consign fortransportation the following articles:

(1) Firearms, ammunition, weapons, police arms;

(2) Controlled knives;

(3) Inflammables, explosives, poisonous, erosive and radioactivearticles;

(4) Other contraband stipulated by the State.Article 33

Other articles which could be used to jeopardize flight safety, thoughnot included in Article 32, still must not be taken
by the passengerhimself. However they can be consigned as baggage or can be carried, inaccordance with the regulations stipulated
by the civil aviationauthorities of the State Council, by crew members and be taken back at thedestination.

Articles for daily use containing inflammable substance may be carriedin limited quantity. The articles to be carried in limited
quantity andthe quantity to be carried shall be specified by the competent civilaviation authorities of the State Council.

Chapter V Penalty ProvisionsArticle 34

Those who violates the provisions of Article 14 or commits an actlisted in Article 16, item (1) and (2) of Article 24 or
Article 25 of theRegulations shall be punished by the civil aviation public securityinstitute in accordance with the relevant
provisions of the “Regulationsof the People’s Republic of China on Administrative Penalties for PublicSecurity.”Article 35

Those who violates the relevant provisions in the Regulations shall bepunished by the civil aviation public security institute
in accordancewith the following provisions:

(1) A person who commits an act listed in item 4 of Article 24 may bepunished by warning or imposing a fine of less than 3,000
RMB;

(2) A person who commits an act listed in item 3 of Article 24 may bepunished by warning, confiscating his unlawful earnings
or imposing a fineof less than 5,000 RMB;

(3) A person who violates item 2 of Article 30 and Article 32 but notserious enough to constitute a crime, may be punished by
imposing a fineof less than 5,000 RMB, and confiscating or withholding the articlesunlawfully carried.Article 36

Where the provisions of these Regulations are violated in one of thefollowing circumstances; the competent civil aviation authority
may punishthe unit concerned by warning, stopping its business for rectification orimposing a fine of less than 50,000 RMB;
the civil aviation publicsecurity organ may punish the person directly responsible by warning orimposing a fine of less than
500 RMB:

(1) Cause an aircraft to be out of control in violation of theprovisions of Article 15;

(2) Sell passenger ticket in violation of the provisions of Article17;

(3) Fail to check the persons to fly in the aircraft and baggage bythe carrier in performing the formalities for transportation
in violationof the provisions of Article 18;

(4) Violate the provisions of Article 19;

(5) Fail to take security measures for the articles accepted fortransportation and to be loaded into the aircraft in
violation of theprovisions of Article 20, Article 21, item 1 of Article 30 and Article 31.Article 37

Those who violates the relevant provisions of the Regulations andconstitutes a crime shall be investigated for criminal
responsibility.Article 38

Those who violates the provisions of the Regulations, in addition tothe punishment prescribed in this Chapter, shall bear the
liability to paycompensation according to law for any loss caused by him to a unit or anindividual.

Chapter VI AppendixArticle 39

In the Regulations the meanings of the following expressions are:

“Airport controlled area” refers to the area defined in an airportaccording to the requirement of safety, the entry into and
exit from whichare subject to restriction.

“Departure sterile area” refers to the area defined in a terminalbuilding (lounge) according to the requirement of
safety, in whichdeparting passengers who have gone through security inspection wait toboard the aircraft, as well as boarding
passage and ferry vehicle.

“Aircraft movement area” refers to the area in an airport used for thetakeoff and landing and other ground movements concerned
of aircraft,including runway, taxiway, connecting taxiway and passenger apron.Article 40

The Regulations shall go into effect on the date of promulgation.

INTERIM MEASURES ON THE MANAGEMENT OF FOREIGN DEBTS

The State Development Planning Commission, the Ministry of Finance, the State Administration of Foreign Exchange

Decree of the State Development Planning Commission, the Ministry of Finance, and State Administration of Foreign Exchange

No.28

The Interim Measures on the Management of Foreign Debts which are enacted with a view to regulating the act of raising foreign debts,
bringing more benefits from the use of foreign debt funds, and avoiding the risk of foreign debts, and are hereby promulgated and
shall come into effect as of March 1, 2003.

Director of the State Development Planning Commission Zeng Peiyan

Minister of the Ministry of Finance Xiang Huaicheng

Director of the State Administration of Foreign Exchange Guo shuqing

January 8, 2003

Interim Measures on the Management of Foreign Debts

Chapter I General Provisions

Article 1

The present Measures are enacted with a view to regulating the act of raising foreign debts, bringing more benefits from the use foreign
debt funds, and avoiding the risk of foreign debts.

Article 2

The term “foreign debt” as mentioned in the present Measures refers to the debts owed by domestic institutions to non-residents in
the form of foreign currency.

Article 3

“Domestic institutions” as mentioned in the present Measures refers to the permanent bodies established according to law in the territory
of China, including but not limited to the governmental organs, domestic financial institutions, enterprises, institutions and social
organizations.

Article 4

“Nonresidents” as mentioned in the present Measures refer to the institutions and natural persons abroad, and the nonpermanent institutions
established according to law in the territory of China.

Article 5

In accordance with the classification of the debts, foreign debts shall be divided into loans offered by foreign governments, loans
offered by the international financial organizations and international commercial loans.

Loans offered by the foreign governments refer to the official credit raised by the Chinese government from foreign governments;

Loans offered by the international financial organizations refer to the noncommercial credit which the Chinese government owes to
the World Bank, Asia Development Bank, Agricultural Development Funds of the United Nations and other international or regional financial
organizations; and

International commercial loans refer to the commercial credit which the domestic institutions owe to the nonresidents, including:

(1)

loans raised from overseas banks or other financial organizations;

(2)

loans borrowed from overseas enterprises, or other financial organizations and natural persons;

(3)

medium-term or long-term bonds (including convertible bonds) issued by foreign banks or short-term bonds (including commercial negotiable
instruments, and large amount transferable deposit receipts);

(4)

the buyers’ credit, deferred payment and trade finance in other forms;

(5)

international financial leases;

(6)

foreign currency deposits of nonresidents;

(7)

debts repaid in cash in compensation trade; and

(8)

international loans of other categories.

Article 6

According to the responsibility for the repayment, foreign debts may be divided into sovereign debts and non-sovereign debts.

The sovereign debts refer to the foreign debts borrowed by the institutions authorized by the State Council in the name of the state
and guaranteed with the state credit for the repayment; whereas

The non-sovereign debts refer to other foreign debts except as of the sovereign debts.

Article 7

“Foreign guaranty” mentioned in the present Measures refers to the guaranty provided by the domestic institutions for the nonresidents
in accordance with the Guaranty Law of the People’s Republic China through means of surety, mortgage, and pledge. Potential obligations
for the repayment of the foreign debts resulting from the foreign guaranty shall be regarded as feasible foreign debts.

Article 8

The State shall conduct an overall control over all of the foreign debts and feasible foreign debts. The borrowing of foreign debts,
guaranty for foreign debts, and the usage and repayment of foreign debts shall comply with the provisions of relevant laws, rules
and regulations of the State and comply with the present Measures.

Article 9

The State Development Planning Commission, Ministry of Finance, and State Administration of Foreign Exchange are the departments responsible
for the administration of foreign debts.

Chapter II Raising of Foreign Debts and Foreign Guaranty

Article 10

According to the need of the national economy and social development, and the conditions of the international income and expenses
and capacity of bearing foreign debts, the State Development Planning Commission shall, jointly with other relevant departments,
draw up the State’s plan for the borrowing of foreign loans, and rationally determine the overall amount of foreign debts and the
standards of their structural adjustment and control.

Article 11

The State shall, in compliance with the category of foreign debts, liability for repayment, and the nature of the borrowers, effect
separate management on foreign debts.

Article 12

Loans provided by international financial organizations or foreign governments shall be borrowed by the State in a consolidated way.

The State Development Planning Commission shall, jointly with other relevant departments like the Ministry of Finance, make overall
plans for loan projects to be chosen provided by the World Bank, Asia Developing Bank, Agricultural Development Funds of the United
Nations, and foreign governments; the Ministry of Finance shall, in accordance with the overall plans, organize the foreign negotiation,
consultation and conclusion of loan agreements, and the direct relending or relending through the relevant financial institutions
to the domestic debtors. The plans for the loan projects to be chosen provided by the World Bank, Asia Developing Bank, Agricultural
Development Funds of the United Nations, and some key foreign governments shall undergo approval by the State Council.

Article 13

Where the Ministry of Finance, in the name of the State, issues bonds abroad, the Ministry shall report to the State Council for approval,
which shall be included in the plans of foreign loans. Medium-term or long-term bonds issued by any other domestic institutions abroad
shall be subject to examination and verification by the State Development Planning Commission and Ministry of Finance, which shall
report the bonds to the State Council for approval.; short-term bonds issued abroad shall be subject to examination and approval
by the State Administration of Foreign Exchange; where the issue of short-term bonds is scrolled, the issue shall be subject to the
joint approval by the State Administration of Foreign Exchange and State Development Planning Commission and Ministry of Finance.

Article 14

With regard to the medium-term or long-term international commercial loans which national commercial banks raise, the State shall
enforce a balance control; the balance shall be subject to the examination and verification of the State Development Planning Commission
and other relevant departments, and then shall be reported to the State Council for examination and approval.

Article 15

Long-term or middle-term international commercial loans borrowed by domestic institutions such as enterprises with Chinese capital
shall be subject to approval by the State Development Planning Commission.

Article 16

With regard to the short-term international commercial loans which domestic institutions with Chinese capital raise, the State shall
exert a balance control; the balance be subject to examination and approval by the State Administration of Foreign Exchange.

Article 17

With regard to the foreign debts raised by foreign-capital financial institutions within China, the State shall enforce an administration
on the total amount. Measures on the administration shall be separately enacted.

Article 18

The summation of the accumulated medium-term and long-term debts borrowed by enterprises with foreign investment and the balance of
short-term debts shall not exceed the surplus between the total investment in projects approved by the verifying departments and
the registered capital.

Within the range of the surplus enterprises with foreign investment may borrow foreign loans at their own will. If the loans exceed
the surplus, the total investment in projects shall be reexamined by the original examination and approval departments.

Article 19

Foreign guaranty provided by domestic institutions for foreign debts shall be in compliance with the State’s laws, rules and regulations
and the relevant provisions of the State Administration of Foreign Exchange.

Article 20

Domestic institutions shall not provide guaranty for non-business external organizations.

Article 21

Without approval of the State Council, no governmental organs, social organizations or institutions shall raise foreign loans or provide
foreign guaranty.

Article 22

After a domestic institution has concluded a contract for foreign loans or providing foreign guaranty, it shall, in accordance with
relevant provisions, apply to the foreign exchange administration departments for registration. Contracts for international commercial
loans or contracts for the corresponding guaranty shall not enter into force until they are registered.

Chapter III Use of the Foreign Debt Capital

Article 23

Foreign debt funds shall be used in the economic development and structural adjustment of the stored foreign debts.

Article 24

Favorable foreign medium-term or long-term loans such as loans provided by the international financial organizations or foreign governments
shall be mainly used in the infrastructure and construction projects for public welfare, with preference to the western part of China.

Article 25

Medium-term or long-term international commercial loans shall be mainly used for introduction of advanced technology and equipment,
and for the adjustment of the structure of industries and structure of foreign debts.

Article 26

Medium-term or long-term foreign debt capital borrowed by domestic institutions shall, strictly according to the approved purposes,
be rationally used, and shall not be diverted for other purposes. Any necessary change of the purposes of use shall be subject to
approval through the original procedures.

Article 27

Short-term debts borrowed by domestic enterprises shall be mainly used as circulating funds, which shall not be used for medium-term
or long-term purposes such as in fixed assets.

Article 28

Where investment projects of fixed assets are funded with foreign debt capital, legal person responsibility system of a key project
shall be practiced so as to make the legal persons of the project responsible for the benefit of the use of the foreign debt capital.

If, in accordance with the Law of the People’s Republic of China on Bid Invitation and Bidding and the relevant provisions prescribed
by foreign organizations which lend the money, any purchase must be conducted through bid invitation; the bid invitation shall be
handled in strict accordance to the relevant provisions.

Article 29

Foreign debts regulatory departments shall be responsible for the administration and supervision of the use of foreign debt capital.

Article 30

The State Development Planning Commission shall, in accordance with the provisions of the Regulations on the Check of the Important
National Construction Projects, shall send specials to key national construction projects which are funded with foreign debt capital,
and shall perform inspection on the implementation of the projects and usage of the debts.

Chapter IV Repayment of Foreign Debts and Management of Risk

Article 31

Sovereign foreign debts shall be repaid by the State uniformly. If the sovereign foreign debt capital is relent to domestic debtors
directly by the Ministry of Finance or through financial institutions, the domestic debtors shall be liable for repayment of the
debts to the Ministry of Finance or to the financial institutions which handle the relending.

Article 32

Non-sovereign foreign debts shall be subject to the responsibility of the debtors themselves for risk and repayment.

Article 33

Debtors may fulfill the repayment of the debts with the foreign exchanges which they possess, or upon verification and approval by
foreign exchange regulatory departments, with foreign exchanges purchased with Renminbi.

Article 34

With respect to the debts which a debtor fails to repay, if there is a surety, the surety shall be responsible for the repayment of
the debts.

Article 35

If the surety needs, pursuant to the provisions of the contract for surety, to perform the obligation of repayment of the debts for
the debtor, the surety shall apply to the foreign exchange regulatory departments for verification for the performance of the contract
for surety.

Article 36

Debtors shall reinforce the management on the risk of foreign debts, and adjust and optimize the debt structure.

On the premise that the range of the original debts is not enlarged, debtors may, upon examination and approval of the State Development
Planning Commission, reduce the cost of foreign debts and optimize the their structure by means of repayment of foreign debts at
a higher cost with foreign debts borrowed at a lower cost. Therein, if the sovereign foreign debts are concerned, examination and
approval by the Ministry of Finance shall be needed.

Article 37

Debtors may, for the purpose of evasion of risk, entrust competent financial institutions to use financial tools to evade the exchange
rate risk and interest rate risk of the foreign debts.

Chapter V Supervision and Administration on Foreign Debts

Article 38

Foreign debt regulatory departments shall, pursuant to the laws, rules and regulations, and the relevant provisions of the present
Measures, conduct supervision and administration on foreign debts and foreign guaranty.

Article 39

When the foreign debt regulatory departments perform duties and responsibilities of supervision and administration, they are enpost_titled
to demand the debtors and relevant units to offer information concerned, check the bills and capital.

Article 40

If a domestic institution fails to perform the procedures of examination and approval or to fulfill the registration according to
the relevant provisions when it raises foreign debts or provides foreign guaranty, the contracts for loans or guaranty which it concludes
shall not be legally binding.

Article 41

Foreign debts or guaranty, which are not embodied in the form of contracts for foreign debts or guaranty, but actually constitute
obligations or potential obligations of repayment of foreign debts, shall be subject to the supervision and administration on foreign
debts according to the present Measures.

Article 42

Violation of the principle of pooling of interest and joint assumption of risk shall be forbidden so as to ensure that the direct
foreign investors will not raise foreign debts disguisedly by means of fixed return.

Article 43

Without approval by the foreign debts regulatory departments, overseas enterprises with Chinese capital shall not transfer the risk
of their foreign debts or obligations of repayment to domestic enterprises.

Article 44

If financial institutions operating foreign exchange business find any act that violates the present Measures in the course of opening
foreign exchange and foreign debts accounts, and handling the business of foreign exchange, they shall timely submit report to the
foreign debts regulatory departments concerned, and shall cooperate with the regulatory departments to carry out investigations.

Article 45

The foreign debt regulatory departments shall pay strict attention to the trends of the foreign debts, establish and perfect an overall
early warning system.

Article 46

The State Administration of Foreign Exchange shall be responsible for the monitoring of foreign debts through statistics, and regularly
publicize the statistical data of the foreign debts.

Article 47

If any domestic institution, in violation of the present Measures, raises foreign debts or provides foreign guaranty, its competent
department shall impose administrative sanction on the persons directly in charge or the other persons directly responsible. If the
offense constitutes a crime, criminal liability shall be pursued according to law.

Article 48

If a staff member of the foreign debt regulatory department engages in malpractices for personal gain, abuses his power or neglect
his duty, the department for which he works shall impose an administrative sanction on him. If the offense constitutes a crime, the
offender shall be subject to criminal liabilities.

Chapter VI Supplementary Provisions

Article 49

Loans raised by domestic institutions from the Special Administrative Regions of Hongkong and Macau, and from the Region of Taiwain
and guaranty provided for them, shall be subject to administration with reference to the present Measures.

Article 50

Foreign debts regulatory departments shall, according to the present Measures, enact and perfect the relevant regulations for the
implementation of the present Measures.

Article 51

The present Measures shall be subject to interpretation of the State Development Planning Commission, Ministry of Finance, and State
Administration of Foreign Exchange.

Article 52

The present Measures shall enter into force as of March 1, 2003.

The State Development Planning Commission, the Ministry of Finance, the State Administration of Foreign Exchange
2003-01-08

LETTER OF THE MINISTRY OF COMMERCE CONCERNING ASSISTING THE ESTABLISHMENT OF AN AID WORK MECHANISM FOR LABOR SERVICE ASSIGNED ABROAD

Letter of the Ministry of Commerce concerning Assisting the Establishment of An Aid Work Mechanism for Labor Service Assigned Abroad

Wai Jing Mao He Han [2003] No. 30
January 10, 2003

The people’s government of all provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically
designated in the state plan,

China’s foreign-related labor service cooperation business developed rapidly, brought about good economic and social returns, and
played a positive role in increasing the foreign exchange revenue of the state, partly easing domestic employment pressure, bringing
along the development of local economy and promoting the reform and opening to the outside world during the past 20-odd years of
reform and opening to the outside world. It has become an important integral part of China’s export-oriented economy and the implementation
of the “going out” strategy. But with the continuous expansion of the scale of China’s foreign-related labor service cooperation
business, disputes and emergencies in respect of the labor service assigned abroad have gradually become more and more as well. Such
disputes or emergencies are usually paroxysmal, complicated and social, so if not disposed properly, they will influence the sound
development of China’s foreign-related cooperation cause and impair the reputation and image of China, or even trigger the unstable
factors of the society.

It is necessary to set up an aid work mechanism for labor services assigned abroad as soon as possible for the purpose of timely disposing
and solving the disputes and emergencies concerning labor service, actually protecting the legitimate rights and interests of the
workers assigned abroad as well as ensuring the sound development of the cause of China’s foreign-related labor service. In September
2001, the Ministry of Foreign Trade and Economic Cooperation began the pilot work of setting up aid centers for labor service assigned
abroad (hereinafter referred to as the aid centers) in Heilongjiang, Shanghai, Jiangsu and Zhejiang. At present, an aid Center has
been set up in Shanghai; a management and coordination team for outbound labor service has been set up in Zhejiang Province, the
general office of the provincial government takes the lead in the establish, simultaneously, involving the department of foreign
trade and economic cooperation, the department of labor and social security, the department of public security, the administration
for industry and commerce, department of foreign affairs, and the bureau of frontier defense. The aid centers of Heilongjiang and
Jiangsu provinces are still under construction. In September 2002, a complaint institution for workers assigned abroad was set up
by China International Contractors Association. The already set up institutions as mentioned above have obtained good effects ever
since began to implement the related work.

Taking into consideration what is stated above, the Ministry of Foreign Trade and Economic Cooperation believes that it is time to
set up an aid work mechanism for labor service assigned abroad. For this reason, in accordance with the actual situations, the people’s
governments of all provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically designated
in the state plan should urge the foreign trade and economic cooperation commissions (departments and bureaus) under them to set
up an aid work mechanism for labor service assigned abroad and offer assistance to them to properly carry out the tasks as follows:

Directing the foreign trade and economic cooperation commissions (departments, bureaus) to be fully aware of the importance of protecting
the legitimate rights and interests of the workers from the height of implementing the “Three Represents” Theory and urge them to
set up an aid work mechanism for labor service assigned abroad as soon as possible. The tasks of the aid work mechanism for labor
service assigned abroad include: to solve the disputes and emergencies both domestically and abroad happening to the workers assigned
abroad by the local enterprises with the foreign-related cooperative business qualifications, to accept the appeals of workers assigned
abroad as well as to provide policy consultation and legal aids to workers assigned abroad.

An aid work mechanism for labor service assigned abroad may be set up in the forms as follows:

In case an aid center has been set up, it shall be run effectively and fully play its role. In case the basic conditions for setting
up an aid center are met, an aid center shall be set up as possible as can. In case the conditions for setting up an aid center are
not mature yet for the time being, an aid work mechanism for workers assigned abroad shall be set up in light of the actual situations
of this region, or there shall be a special department of the foreign trade and economic cooperation commission (department, bureau)
for providing aid to such workers.

The name and contact information of the major persons-in-charge of the aid center already set up or of the aid work mechanism for
workers assigned abroad or of the special department designated by this commission (department or bureau) to (the Cooperation Department)
of the Ministry of Foreign Trade and Economic Cooperation shall be urged to be submitted at the end of February, 2003 by the foreign
trade and economic cooperation commission (department and bureau) of your province, autonomous region, municipality directly under
the Central Government or city under separate state planning.

Table of the Aid Work Mechanisms

Table of the Aid Work Mechanisms of All Places for Labor Service Assigned Abroad

	Province (City)	Name of Aid Mechanism Assigned Abroad	Contact Person	Tel	Fax
1	Beijing	Foreign Trade and Economic Cooperation Office of Beijing Foreign Trade and Economic Cooperation Commission	Zhao Weidong	010-65248762	010-65248762
2	Tianjin	Tianjin Aid Institution for Labor Service Assigned Abroad	Wang Jianxin Li Liping Song Yunping	022-23316905 022-83310768 022-23399725	022-23139482 022-23315231 022-23313152
3	Hebei Province	Leading Group of Hebei Province for the Management and Coordination of Labor Service of Assigned Abroad	Wang Deping Rong Dan	0311-7044205 0311-7089689	0311-7041570
4	Shanxi Province	Aid Work Team of Shanxi Province for Labor Service Assigned Abroad	Yang Yushan Wang Liping Guo Xiangxiang	0351-3046214	0351-3046214
5	Inner Mongolia Autonomous Region
6	Liaoning Province	Foreign Trade and Economic Cooperation Office of the Foreign Trade and Economic Cooperation Department of Liaoning Province	Li Yan Mu Dongyi	024-86892814 024-86892298- 7090
7	Dalian
8	Jilin Province	Foreign Trade and Economic Cooperation Office of the Foreign Trade and Economic Cooperation Department of Jilin Province	Zeng Hong	0431-5624716	0431-5624772
9	Heilongjiang Province
10	Shanghai	Shanghai Aid Center for Labor Service Assigned Abroad	Mi Daming	021-63210165	021-63291984
11	Jiangsu Province	Management and Coordination Team Of Zhejiang Province for Outbound Labor Service	He Xiaoqun	0571-87706136	0571-87706029
12	Zhejiang Province	Coordination Team of Ningbo for Labor Service Assigned Abroad	Liu Xiaoyan	0574-87319285	0574-87328288
13	Ningbo
14	Anhui Province	Foreign Trade and Economic Cooperation Office of Foreign Trade and Economic Cooperation Department of Anhui Province	Hou Gexiong	0551-2831223	0551-2831287
15	Fujian Province
16	Xiamen
17	Jiangxi Province	Coordination Team of Jiangxi Province for Labor Service Assigned Abroad	Shui Dali	0791-6246230 0791-6246236	0791-6211405
18	Shandong Province
19	Qingdao Province	Cooperation Office of Qingdao Foreign Trade and Economic Cooperation Bureau	Wu Heng	05320-5918163 0532-5918135	0532-5910212
20	Henan Province
21	Hubei Province	Foreign Trade and Economic Cooperation Office of Hubei Foreign Trade and Economic Cooperation Department	Yang Qingsong	027-85774478 027-85774122	027-85773668
22	Hunan Province	Foreign Trade and Economic Cooperation Office of Hunan Foreign Trade and Economic Cooperation Department	Li Baosheng	0731-2285430	0731-2287181
23	Guangdong Province	Foreign Trade and Economic Cooperation Office of Guangdong Foreign Trade and Economic Cooperation Department	Fu Haikun 12 3 Page 1 of 3 Must Read Laws An Overview of International Law Child Labor Laws In China Philippine Law: Batas Blg. 17 An Easy Explanation to International Business China Laws Russia Laws Constitution Brazilian Laws Brazilian Constitution German Laws Federal Acts Canadian Laws Canadian Constitution Consolidated Regulations Categories 1956 1957 1958 1959 1961 1964 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Brazilian Constitution Canadian Constitution Canadian Laws China Laws Civil Constitution Constitutional Convention Contract Contracts Copyright Corporate Correcting or Changing Information Credit Union Administration Criminal Declaration of Independence default defaultnews Diaspora Divorce Domestic Drugs DUI Elder Law Emotional Injury Expungements Federal Acts Federalist Papers Fiancee Visa Finance Finance terms Foreclosure Foreign Visa Foreign Visas Forgery General Criminal Law General Robbery Guardianship Immigration Immigration Laws Inheritance Injury Injury Defense Injury Law Injury Negligence Injury Workplace Insanity Claims International Iraq Labor Larceny Looting Malpractice Manslaughter Marriage Medical Malpractice Mesothelioma Military Molestation Natural Disaster Naturalization Citizenship Nazi Non Criminal Homicide Nursing Home Objectives Passport Application Form perjury Piracy Probate Prostitution Publications Refugee Law Refugees Displaced Person Reporting Injury Sexual Harassment Spousal Rape State Local Government Revenue Stream Statutory Rape Student Visas Tax Tests The Founding Fathers The Supreme Court Traffic Travel Visa Uncategorized Visa Work Visa CONSTITUTION ACT, 1982 – page 22 NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as... CONSTITUTION ACT, 1982 – page 21 CONSTITUTION ACT, 1982 – page 20 CONSTITUTION ACT, 1982 – page 19 CONSTITUTION ACT, 1982 – page 18 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 Disclaimer: There is no confidential attorney-client relationship formed by using Laws.com website and information provided on this site is not legal advice. For legal advice, please contact your attorney. Attorneys listed on this website are not referred or endorsed by this website. By using Laws.com you agree to Laws.com Terms Of Use. Facebook © LAWS.COM NETWORK 2023-2024

Supreme Court Decisions

IMPLEMENTATION RULES FOR PROVISIONAL REGULATIONS OF THE ADMINISTRATION OF INTERNATIONAL NETWORKING OF COMPUTER INFORMATION

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON FISHING VESSEL INSPECTION

INTERIM PROVISIONS OF SHANGHAI MUNICIPALITY ON THE ADMINISTRATION OF REAL ESTATE AGENTS

CIRCULAR OF STATE ADMINISTRATION OF FOREIGN EXCHANGES ON ISSUES RELATING TO ADMINISTRATION OF VERIFICATION AND SALES OF COLLECTION OF FOREIGN EXCHANGES UNDER EXPORT FACTORING SERVICES

INTERIM REGULATIONS ON ADMINISTRATION OF SOFTWARE PRODUCTS

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGES ON ISSUES RELATING TO ADJUSTMENT ON THE POLICIES FOR MANAGEMENT OF THE FOREIGN EXCHANGE ACCOUNTS IN CURRENT ACCOUNTS UNDER INTERNATIONAL CONTRACTING PROJECTS

MEASURES FOR ELECTION OF DEPUTIES FROM THE CHINESE PEOPLE’S LIBERATION ARMY TO THE NATIONAL PEOPLE’S CONGRESS AND LOCAL PEOPLE’S CONGRESSES AT OR ABOVE THE COUNTY LEVEL

PROVISIONS ON THE ADMINISTRATION OF THE DEVELOPMENT AND OPERATION OF URBAN REAL ESTATE

REGULATION ON THE CUSTOMS’ PROTECTION OF INTELLECTUAL PROPERTY RIGHT

REGULATIONS ON CIVIL AVIATION SECURITY

INTERIM MEASURES ON THE MANAGEMENT OF FOREIGN DEBTS

LETTER OF THE MINISTRY OF COMMERCE CONCERNING ASSISTING THE ESTABLISHMENT OF AN AID WORK MECHANISM FOR LABOR SERVICE ASSIGNED ABROAD

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