Announcement No 41, 2007 of Ministry of Commerce and General Administration of Customs on Promulgating License Administration on Export
of A Part of Steels

In accordance with Foreign Trade Law of the People’s Republic of China and Administrative Regulations on Commodity Import and Export
of the People’s Republic of China, related issues on license administration on export of a part of steels are now announced as follows:

1.

As from May 20, 2007, export license administration (please refer to appendix for commodity code of the customs) shall be carried
out on a part of steels in line with Administrative Measures on Commodity Export License (Announcement No.28, 2004 of Ministry of
Commerce).

2.

When exporting steels listed in this announcement, enterprises shall apply for export license to provincial (province, autonomous
regions, municipalities, cities separately listed in the sate plan and Xinjiang production and construction corps) license-issuing
authorities of local place where the enterprises are located in accordance with Administrative Measures on Commodity Export License.

3.

Trade mode of export license of steels listed in the announcement shall only applicable to general export (loan payment export and
international bidding export are excluded).

4.

“One license for one approval” is adopted on export license of steels listed in the announcement. Related regulations of Administrative
Regulations on Commodity Import and Export shall be implemented to deal with related issues on foreign-invested enterprises.

5.

The export license of steels listed in the announcement shall be effective in 3 months as from release of the license.

6.

Ministry of Commerce and General Administration of Customs shall be responsible for interpretation of this announcement.

Appendix: List of Steels under Export License Administration (omitted)

Ministry of Commerce

General Administration on Customs

Apr 30, 2007