DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON AMENDING THE LAND ADMINISTRATION LAW OF THE PEOPLE’S REPUBLIC OF CHINA

Standing Committee of the National People’s Congress

Order of the President of the People’s Republic of China

No.28

The Decision of the Standing Committee of the National People’s Congress on Amending the Land Administration Law of the People’s Republic
of China, which was adopted at the 11th session of the Standing Committee of the Tenth National People’s Congress of the People’s
Republic of China, is hereby promulgated, and shall be implemented as of the date of its promulgation.

President of the People’s Republic of China Hu Jintao

August 28, 2004

Decision of the Standing Committee of the National People’s Congress on Amending the Land Administration Law of the People’s Republic
of China

The 11th Session of the Standing Committee of the Tenth National People’s Congress decides to make the following revisions on the
Land Administration Law of the People’s Republic of China:

Paragraph 4 of Article 2 shall be amended as: “The state may make expropriation or requisition on land according to law for public
interests, but shall give compensations accordingly.”

The “Requisition” in paragraph 2 of Article 43 , Article 45 , 46, 47, 49, 51, 78, and 79 shall be amended as “Expropriation”

The present Decision shall be implemented as of the date of its promulgation.

The Land Administration Law of the People’s Republic of China shall be re-promulgated after being amended in accordance with the present
Decision.

Standing Committee of the National People’s Congress
2004-08-28

THE DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ABOUT AMENDING THE FISHERY LAW OF THE PEOPLE’S REPUBLIC OF CHINA

Standing Committee of the National People’s Congress

Order of the President of the People’s Republic of China

No. 25

The Decision of the Standing Committee of the National People’s Congress about Amending the Fishery Law of the People’s Republic of
China was adopted at the 11th session of the Standing Committee of the 10th National People’s Congress of the People’s Republic of
China on August 28th, 2004. It is hereby promulgated and shall be implemented as of the date of promulgation.

Hu Jingtao, President of the People’s Republic of China

August 28th, 2004

The Decision of the Standing Committee of the National People’s Congress about Amending the Fishery Law of the People’s Republic of
China

The 11th session of the Standing Committee of the 10th National People’s Congress of the People’s Republic of China decides to amend
the Fishery Law of the People’s Republic of China as follows:

Article 16 (1) shall be amended as “The state encourages and supports the breeding, cultivation and popularization of good aquatics.
No new aquatic may be popularized unless it has been examined and approved by the National Committee for Examination and Approval
of Original Breeding and Good Breeding and has been announced by the fishery administrative department of the State Council.”

This Decision shall be implemented as of the date of promulgation.

The Fishery Law of the People’s Republic of China shall be re-promulgated after it has been amended in accordance with this Decision.

Standing Committee of the National People’s Congress
2004-08-28

MEASURES FOR THE IMPLEMENTATION OF THE ADMINISTRATIVE LICENSING BY THE PEOPLE’S BANK OF CHINA

the People’s Bank of China

Order of the People’s Bank of China

No. 3

In accordance with the Administrative Licensing Law of the People’s Republic of China, the Law of the People’s Republic of China on
the People’s Bank of China and other relevant laws and regulations, the Measures for the Implementation of the Administrative Licensing
by the People’s Bank of China, which were formulated by the People’s Bank of China and adopted at the executive meeting of presidents,
are hereby promulgated and shall come into force as of November 1, 2004.

Zhou Xiaochuan,President of the People’s Bank of China

September 13, 2004

Measures for the Implementation of the Administrative Licensing by the People’s Bank of China

Chapter I General Provisions

Article 1

With the view of regulating the acts of the People’s Bank of China (hereinafter referred to as the PBC) and its branch institutions
in implementing administrative licensing and protecting the lawful rights and interests of the citizens, legal persons and other
organizations, the present Measures are formulated pursuant to the Administrative License Law of the People’s Republic of China and
the Law of the People’s Republic of China on the People’s Bank of China.

Article 2

The term “administrative licensing” as mentioned in the present Measures refers to that the PBC and its branch institutions, according
to the applications filed by the citizens, legal persons or other organizations, allow these citizens, legal persons and other organizations
to engage in special activities after having examined their applications pursuant to law.

Article 3

The present Measures shall be applicable to the implementation of administrative licensing by the PBC and its branch institutions.

The present Measures are inapplicable to the examination and approval of the personnel, finance and foreign affairs of the public
institutions directly subject to the management the People’s Bank of China.

Article 4

The PBC and its branch institutions shall follow the principle of openness, fairness, impartiality, facilitating the people and high
efficiency in the implementation of administrative licensing.

Article 5

The PBC and its branch institutions shall accord with the statutory functions, scope, conditions and procedures in the implementation
of administrative licensing.

The implementation of administrative licensing by the PBC and its branch institutions shall be based on the laws, administrative regulations
and decisions of the State Council.

Within the scope of administrative licensing items as provided in the laws, regulations or decisions of the State Council, the PBC
may formulate specific rules on the implementation of administrative licensing. But these rules shall not create any new administrative
licensing item, nor may they insert any additional condition in violation of the laws, administrative regulations and decisions of
the State Council.

Article 6

The rules formulated by the PBC on the implementation of administrative licensing shall be promulgated. If any rule is not promulgated,
it shall not become the basis for the implementation of administrative licensing.

The conditions, procedure, time limit and results of the implementation of administrative licensing by the PBC and its branch institutions
shall be publicized except that they involve any state secret, commercial secret or personal privacy.

The applicants, who meet the statutory conditions or standard, shall have equal right to obtain administrative license according to
law. None of them may be discriminated by the PBC and its branch institutions.

Article 7

The citizens, juridical persons or other organizations shall be enpost_titled to make a statement and argument for the administrative licensing
implemented by the PBC and its branch institutions and to apply for administrative reconsideration or institute an administrative
lawsuit pursuant to the law.

If the legitimate rights and interests of a citizen, juridical person or any other organization are impaired due to the implementation
of administrative licensing by the PBC or any of its branch institutions, he (it) shall be enpost_titled to claim for compensation in
accordance with the law.

Article 8

The administrative licensing lawfully granted by the PBC and its branch institutions to the citizens, legal persons or other organizations
is protected by law. The PBC and its branch institutions shall not change an effective administrative licensing without permission.

Where any law, administrative regulation or rule, on which the permission of administrative licensing is based, is amended or abolished
or the objective circumstances that the administrative licensing is pursuant to changes greatly, the PBC and its branch institutions
may modify or revoke the effective administrative licensing according to law for the sake of public interests and shall accordingly
compensate the loss of property of a citizen, juridical person or any other institution.

Article 9

The functional departments of the PBC and its branch institutions shall be responsible for handling the administrative licensing within
the purview of their operation powers.

The departments of legal affairs of the PBC and its branch institutions shall be responsible for the hearing and supervision of administrative
licensing.

Article 10

The PBC and its branch institutions shall establish a sound supervision and inspection system for the implementation of administrative
licensing.

The PBC and its branch institutions shall conduct effective supervision over the administrative licensing activities of the licensed
persons.

Article 11

When implementing administrative licensing, the PBC or any of its branch institutions shall not bring forward any improper requirements
such as requiring an applicant to purchase designated commodity, accepting paid service and etc.

When handling an administrative licensing item, any of the functionaries of the PBC and its branch institutions shall not extort or
accept the property of any other person and not seek other private interests.

Chapter II Implementation Organs of Administrative Licensing

Article 12

The PBC shall implement the administrative licensing pursuant to law within the statutory limits of its functions and powers.

The branch institutions of the PBC shall implement the administrative licensing in accordance with the law within the scope of powers
authorized by the PBC.

Article 13

The PBC may, within the statutory limits of its functions and powers, authorize other administrative organs to implement administrative
licensing according to laws, administrative regulations and rules.

The branch institutions of the PBC shall not authorize any other administrative organ to implement the administrative licensing.

Where the PBC authorizes other administrative organs to implement administrative licensing, it shall declare the authorized administrative
organs and the items under administrative licensing, supervise the implementation of administrative licensing of the administrative
organs and bear the legal liability therefore.

An authorized administrative organ shall implement the administrative licensing on behalf of the PBC within the limits of authorized
functions and powers. It shall not entrust any other organization or individual to implement the administrative licensing.

Chapter III Procedures for the Implementation of Administrative Licensing

Section 1 Application and Acceptance

Article 14

Where a citizen, juridical person or any other organization engages in special activities and has obtained the administrative licensing
of the PBC or its branch institution, he (it) shall file an application thereto.

When applying for administrative licensing, the applicant shall submit the application materials to the General Office of the PBC
or offices of the branch institutions of the PBC that shall transfer them to the bank’s (branch institution’s) functional department
undertaking the administrative licensing items on the same day when it receives them. Where an applicant directly submits the application
materials to the bank’s (branch institution’s) functional department undertaking the administrative licensing items, it shall make
up the formalities for handling the documents with the General Office or offices as it handles the administrative licensing matters.
Where the functional department receives any application materials beyond its scope of administrative licensing items, it shall transfer
them to the General Office or offices on the same day when it receives them and the General Office or offices shall transfer them
to the competent functional department on the same day when it receives them.

An applicant may entrust an agent to file an administrative licensing application unless the applicant is required to file an administrative
licensing application to the office of the PBC or of its branch institutions according to law.

Where an applicant entrusts an agent to file an application, he (it) shall provide the identification certificates and power of attorneys
of the consigners and the agent.

An administrative licensing application may be submitted by means of letter, telegraph, telex, fax, electronic data interchange or
email.

Article 15

The functional departments undertaking the administrative licensing items of the PBC and its branch institutions shall be responsible
for accepting the administrative licensing applications.

As respect to applications of administrative licensing items that are subject to the examination of an inferior institution of the
People’s Bank before it is reported to a superior institution for making a decision, the inferior department with the examination
function shall accept the applications.

Where the administrative licensing items shall be handled by several functional departments, the General Office or offices shall decide
to let one of them accept the applications uniformly.

Article 16

The functional departments undertaking the administrative licensing items of the PBC and its branch institutions shall, in its office,
display the licensing items, the basis, conditions, quantity, procedures, time limit, contents of the complete set of materials that
shall be submitted, and the model text of the application form. If possible, it may publish them on the internet or newspapers and
periodicals.

Where the functional department is requested by an applicant to account for or to explain the publicized items, it shall do so by
offering him (it) exact and credible information.

Where the format text of an application form is required, PBC and its branch institutions shall provide the applicants with the format
text of an administrative licensing application. The format text of an application form shall not contain any content that has no
direct relationship with the licensing items applied for.

Article 17

Where a citizen, juridical person or any other organization applies to the PBC or its branch institutions for administrative licensing,
it shall submit pertinent materials and true information about his (its) situation according to the facts and shall be liable for
the authenticity of the substantial content of the application materials.

Article 18

The PBC or its branch institutions shall handle the administrative licensing applications put forward by applicants differently according
to the following circumstances:

(1)

Where the item applied for has no use for administrative licensing in accordance with the law, it shall inform the applicant of the
rejection immediately;

(2)

Where the item applied for does not fall within the limits of functions and powers of the PBC, it shall make a decision of rejection
immediately and inform the applicant to file an application to the competent administrative organ;

(3)

Where the item applied for falls within the limits of functions and powers of the PBC but isn’t subject to the acceptance of institutions
at this level, it shall immediately make an explanation to the applicant and inform him (it) to file an application to the competent
administrative organ;

(4)

Where the errors in the application materials can be corrected on the spot, the applicant shall be permitted to correct them on the
spot;

(5)

Where the application materials are incomplete or inconsistent with the statutory form, it shall inform the applicant the whole contents
that need to be supplemented or corrected on the spot or once within 5 days. Where it fails to do so within the time limit, the day
when the application materials are received shall be considered as the acceptance day;

(6)

Where the item applied for falls within the limits of functions and powers of the PBC and the application materials are complete and
in consistency with the statutory form, or the applicant has supplemented and corrected all the items as required, the application
for administrative license shall be accepted.

Where the PBC or its branch institution accepts, rejects, dismisses the application or requests the application to make correction
and supplement of application materials as mentioned in the preceding paragraph, it shall issue a written notice bearing the seal
of this bank or the seal for the exclusive use of administrative licensing, and a clear indication of the date.

Section 2 Examination and Decision

Article 19

The functional department undertaking administrative licensing items of the PBC or of its branch institutions shall examine the application
materials submitted by an applicant.

Where the application materials are complete and accord with the statutory form, and if it is able to confirm on the spot according
to relevant provisions that the items applied for shall be approved, the functional department undertaking the administrative licensing
items shall make a written administrative licensing decision on the spot, and make and issue an administrative license pursuant to
relevant provisions

Where it is necessary to verify the substantial content of the application materials in pursuance to the statutory conditions and
procedures, the functional department undertaking the administrative licensing items shall assign 2 or more personnel to do so.

Article 20

Where the administrative licensing items shall be subject to the examination of an inferior institution of the PBC before it is reported
and submitted to the superior institution, the inferior institution shall submit its preliminary examination opinions and the complete
set of application materials directly to the superior institution.

When examining the administrative licensing items, the superior shall not demand the applicant to provide any application material
repeatedly.

Article 21

Where the functional department responsible for undertaking the administrative licensing items of the PBC or its branch institutions,
when examining an administrative license application, finds that any party has important direct interests to the matters under the
administrative license, it shall inform the interested party.

The applicant or the interested party shall be enpost_titled to make a statement or argument and shall submit his (its) statement or argument
opinions within 3 days from the date when they are informed of the circumstance. If the statement or argument is made orally, the
functional department undertaking the administrative licensing items shall make well transcripts and have them signed by the person
who makes the statement or argument for confirmation.

The PBC or its branch institutions shall hear the opinions of the applicant or the interested party.

Article 22

After the functional department responsible for undertaking administrative licensing items of the PBC or its branch institutions has
completed the examination over an administrative licensing application, it shall handle it respectively pursuant to the following
circumstances:

(1)

Where the application meets the statutory conditions or standards and is decided to grant an administrative license, it shall make
a decision of approval of the administrative license;

(2)

Where the application doesn’t meet the statutory conditions or standards, and it is decided not to grant an administrative license,
it shall make a decision of disapproval of administrative licensing. In the decision it shall make an explanation of the disapproval
of the administrative license and shall inform the applicant of the right to apply for administrative reconsideration or to lodge
an administrative lawsuit according to law.

Article 23

The functional department responsible for undertaking the administrative licensing items of the PBC or of its branch institutions
shall submit the decision of approval or disapproval of the administrative license to the president (director) or the executive deputy
president of this bank for examination and approval unless the administrative licensing is approved and a certificate thereof is
made and issued on the spot.

The decision of approval or disapproval of the administrative license shall bear the seal of this bank and a clear indication of the
date after being approved by the president (director) or the executive deputy president of this bank.

Article 24

Where the PBC or its branch institution makes a decision of approval of administrative licensing and it is necessary to issue an administrative
license according to laws, administrative regulations and rules of the PBC, it shall issue the applicant an administrative license
bearing the seal of the bank.

Article 25

The decision of approval of the administrative licensing made by the PBC or its branch institutions shall be publicized and the general
public shall be enpost_titled to consult them.

Article 26

Where the application scope of the administrative licensing lawfully implemented by the PBC and its branch institutions is subject
to no geographical limits, the administrative license obtained by the applicant shall be effective nationwide.

Article 27

With respect to the administrative licensing subject to quantitative restriction, where 2 or more applicants of it meet the statutory
conditions and standards, the PBC or its branch institutions shall decide to approve the administrative licensing according to the
sequence of accepting the applications for the administrative licensing. However, if it is otherwise prescribed in the laws and regulations,
the latter shall prevail.

When granting a special qualification to the juridical persons or other organizations, the PBC and its branch institutions shall make
decisions of administrative licensing according to the evaluation result in aspects of the structure of professionals of the applicants,
technical conditions, business performance and management level. However, if it is otherwise prescribed in the laws and regulations,
the latter shall prevail.

Section 3 Time Limit and Service

Article 28

Except that a decision of administrative licensing can be made on the spot, the PBC or its branch institutions shall make a decision
of administrative licensing within 20 days from the day when it accepts the administrative licensing application. If it is unable
to make a decision within 20 days, it may be extended for 10 days upon approval of the president (director) or deputy president (director)
of the bank, and the reasons for extension shall be informed to the applicant. However, if it is otherwise prescribed in laws or
administrative regulations, the latter shall prevail.

Article 29

Where an administrative licensing shall be subject to the examination of an inferior institution of the PBC before it is submitted
to its superior institution for decision, the inferior institution shall complete the examination within 20 days after it accepts
the application, and shall submit the preliminary examination opinions and application materials to the superior institution.

The superior institution shall decide whether or not to approval the administrative licensing within 20 days after it receives the
application materials and the preliminary examination opinions submitted by the inferior institution.

However, if it is otherwise prescribed in laws or administrative regulations, the latter shall prevail.

Article 30

Where the PBC or its branch institution makes a decision of administrative licensing and it is necessary for them to hold a hearing
pursuant to law, the time for hearing shall not be included in the time limit as provided in this Section; and it shall inform the
applicant of the hearing time in written form.

Article 31

The PBC or its branch institutions shall serve the notice of acceptance, rejection, dismissal or demand to make supplements or corrections
to the application materials to the party concerned within 5 days after it receives the application materials, except that the notice
shall be made in time.

Article 32

Where the PBC or its branch institution decides to approve the administrative licensing, it shall, serve a written decision of approval
of the administrative licensing or an administrative license to the applicant within 10 days after it makes a decision.

Where the PBC or its branch institution decides to disapprove an administrative license, it shall serve a written decision of disapproval
of the administrative license to the applicant within 10 days after it makes a decision.

The PBC or its branch institution shall, under relevant provisions of the Civil Procedural Law, determine the way of serving the administrative
license or decision as mentioned in the preceding Paragraphs.

Section 4 Hearing

Article 33

For matters that are subject to hearing as prescribed in any law, regulation or rule of the PBC on the implementation of administrative
licensing, other administrative licensing matters of great importance to the public interests that the PBC or its branch institution
considers it necessary to hold a hearing, the PBC or its branch institution shall announce them to the general public and hold a
hearing of witnesses.

Article 34

Where an administrative license directly relates to the important interests between the applicant and others the functional department
undertaking the administrative licensing items shall inform the applicant and the interested party of the right to request a hearing
of witnesses before the PBC or its branch institution makes a decision of administrative licensing. Where the applicant or the interested
party files an application for hearing of witnesses within 5 days after he (it) is informed of the aforesaid right, the PBC or its
branch institutions shall organize a hearing within 20 days.

The applicant or the interested party shall not pay the expenses of organizing the hearing by the PBC or its branch institutions.

Article 35

The hearing shall be organized by following the procedures below:

(1)

The functional department responsible for undertaking administrative licensing items of the PBC or its branch institutions shall,
not later than 7 days before the hearing is held, inform the applicant and the interested party of the date and place of hearing,
or make an announcement if necessary.

(2)

The hearing shall be held openly.

(3)

The hearing shall be presided by a person working in the legal affairs department of the PBC or its branch institutions or by a person
working in a department other than the one undertaking the administrative licensing items as designated by the president (director)
or deputy president (deputy director) of the bank;

Where the applicant or the interested party believes that the presiding hearer is of direct interests to the administrative licensing
item, he (it) shall be enpost_titled to apply for the withdrawal of the presiding hearer. Whether the presiding hearer should withdraw
or not shall be decided by the president (director) or executive deputy president (deputy director) of this bank.

(4)

In the course of hearing, the functional department undertaking the administrative licensing items shall provide the proofs or reasons
for making the examination opinions. The applicant and the interested party may advance proofs and make arguments and cross-examination.

(5)

The presiding hearer shall designate a special person to put down things about the hearing in writing. The notes shall include the
hearing date, place, attendees, matters and opinions of the parties concerned.

The notes of hearing shall be confirmed and bear the signature or seal of the parties concerned. If any party concerned refuses to
do so, the circumstance shall be noted down and be testified by other attendees with their signatures or seals.

(6)

After the end of the hearing, the presiding hearer shall hand the hearing notes and the proofs obtained in the hearing to the functional
department undertaking the administrative licensing items which shall make a decision of approval or disapproval of administrative
licensing according to the hearing notes and handle the administrative license application in accordance with Articles 22 and 23
of the present Measures.

Section 5 Modification and Extension

Article 36

Where a licensee requests for modifying the administrative licensing items, he shall file an application to the PBC or any of its
branch institution that has made decision on the administrative licensing. If it meets the statutory conditions and standards, the
PBC or its branch institutions shall go through the modification procedures in accordance with law.

Article 37

Where a licensee needs to extend the period of validity of the administrative license, he shall file an application with the PBC or
its branch institution that has made decision on the administrative licensing 30 days prior to the expiry of the period of validity
of this administrative license. However, if it is otherwise prescribed in any law, regulation or rule, the latter shall prevail.

The PBC or its branch institutions shall, in light of the application filed by a licensee, decide whether or not to approve the extension
prior to the expiry of the period of validity of this administrative license; if it fails to make a decision within the time limit,
it shall be deemed that the extension has been approved.

Chapter IV Costs of Administrative Licensing

Article 38

When implementing the administrative licensing and conducting supervision and inspection on the licensing items, the PBC and its branch
institutions shall not charge any expense for that. However, if it is otherwise prescribed in any law or administrative regulation,
the latter shall prevail.

When offering a format text of the application form of administrative licensing, the PBC and its branch institutions shall not charge
anything for that.

Article 39

Where the PBC and its branch institutions charge fees in accordance with the laws and administrative regulations in the implementation
of administrative licensing, they shall do so pursuant to the announced statutory items and standards. They shall uniformly combine
the fees collected into an account and turn them over to the state treasury entirely. No one may retain, misappropriate, privately
divide or privately divide in a disguised form the aforesaid fees.

Chapter V Supervision and Inspection

Article 40

The functional department undertaking the administrative licensing items of the PBC or its branch institutions shall record the administrative
licensing items basis, examination opinions, handling results and time limits handled by it and shall send a copy to its legal affairs
department each quarter.

Article 41

The person in charge of the functional department undertaking the administrative licensing items of the PBC or its branch institutions
shall irregularly inspect the administrative licensing matters handled by the department at least twice a year.

The legal affairs department of the PBC or its branch institutions shall supervise and inspect the administrative licensing matters
handled by this bank. If it finds any problem in the inspection, it shall demand the undertaking department to make corrections in
time and shall report it to the president (director) or executive deputy president (deputy director) of this bank.

Article 42

The legal affairs department of a branch institution of the PBC shall make annual analysis of the information on the implementation
of administrative licensing within its jurisdictional area and shall submit a report to the superior legal affairs department. The
report shall cover the administrative licensing categories, quantity, results (including approval or disapproval of administrative
licensing), records, supervision and inspection, existing problems proposals and etc..

Article 43

The functional department undertaking the administrative licensing items of the inferior institution of the PBC shall report and submit
the information on the implementation of administrative licensing to the like functional department of the superior institution for
archival purposes.

The superior institution shall conduct supervision and inspection over the implementation of administrative licensing by the inferior
institutions and shall rectify the illegal actions thereof.

Article 44

The PBC and its branch institutions shall establish a sound system to supervise the licensees’ activities under administrative licensing,
and shall perform its supervisory responsibilities by verifying and reflecting the relevant materials that display the information
on licensees’ activities under administrative licensing.

When the PBC or anyone of its branch institution conducts supervision and inspection over a licensee’s activities under administrative
licensing according to law, it may consult or demand the licensee to report and submit relevant materials pursuant to the law. The
licensee shall faithfully offer pertinent information and materials.

The functional department undertaking the administrative licensing items of the PBC or its branch institutions shall note down the
information on the supervision and inspection and the handling result and shall transfer the notes to the archival department with
the signatures of the supervisors or inspectors.

The general public shall be enpost_titled to consult the supervisory and inspecting notes as mentioned in the preceding paragraph.

Article 45

When conducting supervision or inspection, the PBC or its branch institutions shall not hamper normal business activities of the licensee.

Article 46

Where a licensee conducts an activity in violation of the matters under administrative licensing in a area outside the jurisdiction
of the branch institution of the PBC that has made the approval decision of administrative licensing, the branch institution of the
PBC located in the area where the illegal activity is conducted shall send a copy of the illegal facts and punishments to the branch
institution of the PBC that has made the decision of approval of administrative licensing in accordance with the law.

Article 47

Where any individual or organization discovers any activity in violation of the matters under administrative licensing, it shall be
enpost_titled to inform the PBC or its branch institutions which shall verify and deal with such activity in time.

Article 48

The PBC or its branch institutions may, in light of its functions and powers or the request of the interested party, cancel decisions
of administrative licensing made by this bank or its inferior institutions:

(1)

The functionary of the PBC or anyone of its branch institution makes a decision of administrative licensing by abusing their authorities
or neglecting thei

DETAILED RULES FOR IMPLEMENTATION OF IMPORT TARIFF QUOTA OF WOOL AND WOOL TOPS IN 2005

Ministry of Commerce

Announcement of the Ministry of Commerce of the People’s Republic of China

No. 61

Detailed Rules for Implementation of Import Tariff Quota of Wool and Wool Tops in 2005 were formulated in accordance with Interim
Measures on Management of Import Tariff Quota of Agricultural Products (Decree No. 4, 2003 of Ministry of Commerce and State Development
and Reform Commission) and are hereby announced.

Ministry of Commerce

September 29, 2004

Detailed Rules for Implementation of Import Tariff Quota of Wool and Wool Tops in 2005

Article 1

For the purposes of managing import tariff quota of wool and wool tops the present rules are formulated in accordance with Interim
Measures on Management of Import Tariff Quota of Agricultural Products (Decree No. 4, 2003 of Ministry of Commerce and State Development
and Reform Commission).

Article 2

Import tariff quota of wool in 2005 is 287 thousand ton and that of wool tops is 80 thousand ton.

Article 3

All wool and wool tops imported in the mode of trade are brought into management of import tariff quota.

Article 4

The allocation of wool and wool tops in 2005 is carried out in order of arrival. The applicants should apply for import tariff quota
of wool or wool tops by import contract of wool or wool tops, or by Processing Trade Approval Certificate and related materials.
Ministry of Commerce should, through the authorized organs, distribute Import Tariff Quota Certificate of Agricultural Products for
the applicants who meet the requirements in the principle of first coming, first serving. When the accumulated quantity allotted
totals tariff quota of 2005, the application will not be accepted.

Article 5

Application Requirements

The applicants should register in industrial and commercial administrations for the record before January 1, 2005 and pass annual
examination of industrial and commercial administration;

No record of violation of import provisions in terms of customs, industry and commerce; taxation, quality inspection and foreign exchange;
and

No violation of Interim Measures on Management of Import Tariff Quota of Agricultural Products and Rules for Implementation of Import
Tariff Quota of Wool and Wool Tops in 2004 issued by Ministry of Commerce and State Development and Reform Commission.

Article 6

Quota applicants should submit their applications to authorization organs authorized by Ministry of Commerce in the enterprises’ registration
area in the principle of possession management by import contract of wool and wool tops (processing enterprises should also provide
Approval Certificate of Processing Trade). The applicants should fill in Application Form of Import Tariff Quota of Wool and Wool
tops (see Appendix) and provide above related materials.

Article 7

Quota applicants may obtain Application Form of Import Tariff Quota of Wool and Wool tops in the organs authorized by Ministry of
Commerce or download (copy) it from https://www.mofcom.gov.cn/.

Article 8

Quota applicants may apply for tariff quota repeatedly in Gregorian calendar annual year, but must abide by:

The applicants may apply for 300 ton wool or wool tops if they have real achievements in import of wool or wool tops in 2004, their
accumulated applied quantity of quota (excluding the import of processing trade, the same below) does not exceed the actual import
quantity of 2004 (calculated according to the accumulated quantity in Import Tariff Quota Certificate of Agricultural Products sealed
by the customs and received by original certificate-issuing organs), among them the actual import quantity in 2004 is less than 300
ton; and

As for the applicants who have no real import achievements in 2004, their accumulated applied quantity before September 30, 2005 should
not exceed 300 ton.

Article 9

After September 30 the end-users who obtained quota may keep on applying for import quota if they fulfill the import quantity stipulated
in Article 8 (calculated according to the accumulated quantity in Import Tariff Quota Certificate of Agricultural Products sealed
by the customs and received by the original certificate-issuing organs).

Article 10

If the application satisfies the provisions of Article 5 , 8 and 9, the organs authorized by the Ministry of Commerce should make
a report through computer internet system of the Ministry of Commerce, and at the same time fax the enterprises’ application form
to the Ministry of Commerce after examining it and signing name on it. The order of the application should base on the network terminal
show managed by the Ministry of Commerce.

Article 11

Ministry of Commerce should inform the examination result to the authorization organs within 5 working days after the receipt of the
application and written fax through network.

Article 12

The organs authorized by Ministry of Commerce should distribute Import Tariff Quota Certificate of Agricultural Products to end-users
in accordance with the quantity approved by Ministry of Commerce within 5 working days after the receipt of approval notification.

Article 13

Import Tariff Quota Certificate of Agricultural Products is valid within 6 months as of the issuing day, but the time of efficacy
must not exceed December 31, 2005. The time of efficacy of Import Tariff Quota of Agricultural Products for processing trade must
not exceed the closing date of selling in return of finished export products as stipulated in Approval Certificate for Business of
Processing Trade.

Article 14

If the goods are shipped from the starting port before December 31, 2005 and arrive in the next year, the end-user needs to apply
for extension to the original certificate-issuing organ with shipping document. The date may not extend the end of February 2006.
If the goods belong to processing trade and the import of them have not been fulfilled or the import of all goods have not been fulfilled,
the end-user may obtain Import Tariff Quota Certificate of Agricultural Products of the next annual year for un-imported goods by
original Tariff Quota Certificate. But the period of validity in newly obtained Quota Certificate must not exceed the closing date
of selling in return of finished export products in original Approval Certificate for Business of Processing Trade.

Article 15

If the business of processing trade has any change or extension, a new Import Tariff Quota of Agricultural Certificate should be obtained
from original issuing organs on the strength of Change Certification of Approval Certificate of Processing Trade and Import Tariff
Quota of Agricultural Products. The period of validity may not exceed the time changed or limited in Change Certificate of Approval
Certificate of Processing Trade.

Article 16

If the end-users do not use Tariff Quota within the period of validity fixed in the Quota Certificate, they should return the original
Quota Certificate to the original certificate-issuing organ. Ministry of Commerce will recall the quota listed in Quota Certificate
and bring them into the tariff quota surplus volume of wool or wool tops.

Article 17

Anyone who forges a contract or materials to defraud Import Tariff Quota Certificate of Agricultural Products should be punished in
accordance with related provisions in Interim Measures for Administration of Import Tariff Quota of Agricultural Products.

Article 18

The end-users should submit the first page of Import Tariff Quota Certificate of Agricultural Products sealed by the customs (the
page with which the consignees go through the customs formalities) to the original certificate-issuing organ within 20 working days
after going through the customs formalities.

Article 19

The interpretation of the present Rules shall be vested in the Ministry of Commerce.

Appendix: Application Form of Import Tariff Quota of Wool or Wool Tops(omitted).

Ministry of Commerce
2004-09-29

DETAILED RULES FOR THE IMPLEMENTATION OF THE MEASURES FOR THE ADMINISTRATION OF FINANCIAL INSTITUTIONS’ REPORT OF LARGE-VALUE AND SUSPICIOUS FOREIGN EXCHANGE TRANSACTIONS

the State Administration of Foreign Exchange

Circular of the State Administration of Foreign Exchange on Issuing the Detailed Rules for the Implementation of the Measures for
the Administration of Financial Institutions’ Report of Large-Value and Suspicious Foreign Exchange Transactions

Huifa [2004] No. 100

Oct 12, 2004

The branches or foreign exchange management departments of the State Administration (hereafter referred to as “SAFE”) of foreign exchange
of all provinces, autonomous regions and municipalities directly under the Central Government, the SAFE’s branches in Shenzhen, Dalian,
Qingdao, Xiamen and Ningbo, the Industrial and Commercial Bank of China, the Agriculture Bank of China, the Bank of China, China
Construction Bank, the Bank of Communications, China Development Bank, the Export-Import Bank of China, the Agricultural Development
Bank of China, CITIC Industrial Bank, China Everbright Bank, Huaxia Bank, Guangdong Development Bank, Shenzhen Development Bank Co.,
Ltd., China Merchant Bank, Xingye Bank, Shanghai Pudong Development Bank, China Minsheng Banking Corp., Ltd. and China Zheshang Bank:

With the view of standardizing the reporting act of financial institutions of large-value and suspicious foreign exchange transactions,
making better-defined the laws and regulations on and strengthening the work of anti-money laundering in the foreign exchange sector,
the Detailed Rules for the Implementation of Measures for the Administration of Report of Financial Institutions of Large-value and
Suspicious Foreign Exchange Transactions (hereinafter referred to as the “Detailed Rules for Implementation”, for which see the Attachment),
as formulated by the State Administration of Foreign Exchange according to the Law of the People’s Republic of China on the People’s
Bank of China, Provisions Concerning the Anti-money Laundering Practices by Financial Institutions and the Measures for the Administration
of Financial Institutions’ Report of Large-Value and Suspicious Foreign Exchange Transactions, are hereby issued to you with the
relevant matters clarified as follows:

Every financial institution shall, pursuant to the Measures for the Administration of Financial Institutions’ Report of Large-Value
and Suspicious Foreign Exchange Transactions, the Detailed Rules for Implementation and the plans and standards promulgated by SAFE
for the collection of data relating to large-value and suspicious foreign exchange transactions, report to SAFE and its branch and
sub-branch offices timely and accurately of the large-value and suspicious foreign exchange transactions and further improve the
work of reporting large-value and suspicious foreign exchange transactions.

Every SAFE branch or sub-branch office shall strengthen their contact and communication with financial institutions and enhance their
guidance in, supervision and control on the anti-money laundering work of financial institutions.

Upon receipt of this Circular, every SAFE branch (department of foreign exchange control) shall, promptly transmit it to the sub-branches
and banks under its jurisdiction; the head office of every Chinese-funded foreign exchange bank shall promptly transmit it to its
subordinate branches. Any problem arisen during the implementation of this Circular shall be promptly submitted to the inspection
department of SAFE.

Contact person: Lu Zheng

Phone: 010-68402106

Detailed Rules for the Implementation of the Measures for the Administration of Financial Institutions’ Report of Large-value and
Suspicious Foreign Exchange Transactions

Chapter I General Provisions

Article 1

In order to standard the reporting by financial institutions of large-value and suspicious foreign exchange transactions, perfect
the anti-money laundering work in the foreign exchange field, the Detailed Rules for Implementation are formulated according to the
Law of the People’s Republic of China on the People’s Bank of China, the Provisions Concerning the Anti-money Laundering Practices
by Financial Institutions and the Measures for the Administration of Financial Institutions’ Report of Large-value and Suspicious
Foreign Exchange Transactions (hereinafter referred to as the “Measures for Administration”) .

Article 2

The SAFE and its branch and sub-branch offices (hereinafter referred to as the “AFE”) shall be responsible for the inspection, supervision
and administration of the implementation of the Measures for Administration by financial institutions, itemize, filtrate, identify
and analyze information relating to large-value and suspicious foreign exchange transactions reported by financial institutions,
make investigations and punishments on any act in violation of any provision concerning foreign exchange control by following the
tracks of and verifying the information of suspicious foreign exchange transactions, hand over the information and clues of any suspected
money laundering or any other crime to the authority for public security or other law enforcement organs, and keep away and crack
down on money laundering and other illegal acts cooperating with other supervisory, law enforcement and judicial organs.

Article 3

Every financial institution shall strictly comply with the provisions concerning anti-money laundering and conscientiously perform
its duty of anti-money laundering.

Every financial institution shall establish and perfect an internal anti-money laundering control system, set up a special operating
department for anti-money laundering or designate an existing department to be responsible for the anti-money laundering work with
appointment of a special person in charge.

Every financial institution shall follow out the principle of “having good knowledge of your customers”, comply with the relevant
provisions on using the real name for opening an individual deposit account and, when developing business relations with its customers
and handling the foreign exchange business, get a good grasp of its customers’ identities and daily operation conditions and other
credit standing circumstances and identify its customers.

Every financial institution shall identify and verify the information related to large-value and suspicious foreign exchange transactions
and promptly report it to the AFE.

Every financial institution shall keep for at least five years the records made during the performance of anti-money laundering.

Every financial institution shall abide by the secret-keeping system and may not disclose to any entity or individual any information
of large-value or suspicious foreign exchange transaction or information of any of its customers enquired, verified or investigated,
unless otherwise provided for by the state.

Every financial institution shall assist and cooperate with the AFE, other supervisory, law enforcement and judicial organs in anti-money
laundering practices.

Chapter II Substance of and Standards for Reporting Large-value and Suspicious Foreign Exchange Transactions

Article 4

Every financial institution shall report the foreign exchange transactions prescribed in Article 8 of the Measures for Administration
in both paper and electronic forms on a monthly basis.

Every financial institution shall report the foreign exchange transactions prescribed under Article 9 , Articles 10 (1), (2), (3),
(4), (5), (6), (7), (8), (9), (10), (11), (12), (19) and (20), Article 12 (3) and Articles 13 (3), (8), (9) and (23) of the Measures
for Administration in both paper and electronic forms on a monthly basis.

Article 5

Every financial institution shall promptly report the foreign exchange transactions prescribed under Articles 10 (13), (14), (15),
16), (17) and (18), Articles 12 (1) and (2) and Articles 13 (1), (2), (4), (5), (6), (7), (10), (11), (12), (13), (14), (15), (16),
(17), (18), (19), (20), (21), (22) and (24) of the Measures for Administration in paper form.

Article 6

Large-value and suspicious foreign exchange transactions, made through an account (or bankcard) opened in a domestic financial institution,
shall be reported by the opening (issuing) bank; large-value and suspicious foreign exchange transactions, made through a bankcard
issued abroad, shall be submitted by the acquiring bank; large-value and suspicious foreign exchange transactions, made in any way
other than through a account (or bankcard), shall be reported by the operation-handling bank.

Article 7

When being reported of large-value and suspicious foreign exchange transactions, the accumulated amount of transactions prescribed
in the present Measures shall be calculated unilaterally based on the receipt or payment of funds.

When being reported of large-value and suspicious foreign exchange transactions, in the case of fund moving between foreign exchange
accounts, the relevant standards for non-cash transactions shall apply; and in the case of deposit or withdrawal of foreign exchange
cash into or from an account or any other cash transactions, the relevant standards for cash transactions shall apply.

Article 8

A large-value foreign exchange transaction referred to in Article 8 of the Measures for Administration means:

(1)

any single or multiple foreign exchange cash transactions made in a day by an enterprise or individual with an amount or an accumulated
amount of value equal to or more than of US$10,000;

(2)

any single or multiple non-cash foreign exchange transactions made in a day by an individual with an amount or an accumulated amount
of value equal to or more than US$100,000; or

(3)

any single or multiple non-cash foreign exchange transactions made in a day by an enterprise with an amount or an accumulated amount
of value equal to or more than US$500,000;

The large-value foreign exchange transactions, meeting any of the following requirements may not need to be reported:

(1)

upon the maturity of a time deposit, the principal or the principal together with all or part of the interest thereon is not directly
withdrawn or transferred but re-deposited into another account of the customer under the same name in the same financial institution;

(2)

the principal or the principal together with all or part of the interest thereon in a current account is transferred to a time deposit
in another account of the customer under the same name in the same financial institution;

(3)

the principal or the principal together with all or part of the interest thereon of a time deposit is transferred to a current account
opened by the same customer under the same name in the same financial institution;

(4)

any large-value conversion from one to another foreign currency during an foreign exchange transaction by an individual with a firm
offer;

(5)

any large-value foreign exchange transaction by any of the Party or state organs (including the state organs of power, administrative,
judicial and military organs) at various levels, the Chinese People’s Liberation Army and Armed Police Force, or the National Committee
of the CPPCC or CPPCC local committees, not including any enterprise or institution subordinate to any of them;

(6)

any large-value foreign exchange transaction under a re-loaning of any international financial organization or foreign government
loan;

(7)

any large-value debt swap transaction under a loan from any international financial organization or foreign government; and

(8)

other large-value foreign exchange transactions as may be provided by the SAFE.

Article 9

“In a large amount” as referred to in Articles 9, 10, 12 and 13 of the Measures for Administration means a single or multiple foreign
exchange transactions with an amount or an accumulated amount of value not less than:

(1)

in the case of foreign exchange cash transactions, the equivalent of $8,000;

(2)

in the case of non-cash foreign exchange transactions by an individual, the equivalent of $80,000; or

(3)

in the case of non-cash foreign exchange transactions by an enterprise, the equivalent of $480,000.

Article 10

“Mostly” as referred to in Articles 9 (9) and (10) of the Measures for Administration means being at least 50%.

Article 11

“Large amount of Renminbi cash” as referred to in Article 12 (3) of the Measures for Administration means Renminbi cash in an amount
of at least 20,000.

Article 12

“The annual remit of profit by an enterprise with foreign investment exceeding the amount of investment by a large margin or obviously
not in conformity with its business operation” as referred to in Article 10 (15) of the Measures for Administration means the case
where the annual accumulated remit of profit by the foreign party of an enterprise with foreign investment exceeding the amount of
investment already made by at least 50% or obviously not in line with its business operation.

Article 13

“Offsetting deposit or loan transaction with any affiliated or associated company of a financial institution located in a region with
serious problems of smuggling, narcotics trafficking or terrorist activities” as referred to in Article 10 (17) of the Measures
for Administration means any offsetting deposit or loan transaction between any financial institutions, enterprises or individuals
and any affiliated or associated companies of a financial institution located in a region with serious problems of smuggling, narcotics
trafficking or terrorist activities.

Article 14

“Disbursal from a foreign exchange account in an amount roughly equal to the amount of deposit made on the same or previous day” as
referred to in Article 12 (1) of the Measures for Administration means the amount withdrawn, settled, remitted or transferred from
a foreign exchange account roughly equal to the amount of cash deposit made on the same or previous day.

Article 15

“Any account holder depositing foreign exchange or Renminbi cash in many transactions in foreign currency savings accounts of others
and receiving at the same time Renminbi or foreign exchange of the equivalent amount” as referred to in Article 12 (2) of the Measures
for Administration means the case where the savings or balance accounts of both of the transacting parties respectively have a foreign
exchange and Renminbi receipt, that is, when a party deposits foreign exchange in the savings or balance account of another person,
he receives Renminbi in the equivalent amount through his savings or balance account, and vice versa.

Article 16

“Any enterprise group making any internal foreign exchange fund transfer exceeding the volume of its actual business operation” as
referred to in Article 13 (5) of the Measures for Administration means any foreign exchange transaction that is not commensurate
with the actual demand of business between enterprises within an enterprise group or between the enterprise group and associated
companies.

Article 17

“Any enterprise knowingly conducting loss-making sale or purchase of foreign exchange” as referred to in Article 13 (15) of the Measures
for Administration means the case where an enterprise knows that the existing condition is unfavorable for the transaction to be
made but still makes purchase or sale of foreign exchange without sound reasons.

Article 18

“Any foreign exchange transaction being suspected on reasonable grounds by the staff of the bank or other financial institutions”
as referred to in Article 13 (24) of the Measures for Administration means any cash or non-cash foreign exchange transaction as
discovered and inferred to be likely related with any money laundering activity or other like crimes by a staff member of a financial
institution with due care and prudence in identifying the transaction and customer when handling the financial business.

Chapter III Procedures for Financial Institutions’ Report of Large-Value and Suspicious Foreign Exchange Transactions

Article 19

When reporting large-value and suspicious foreign exchange transactions, financial institutions shall accurately fill out the report
forms in strict accordance with the format specified by SAFE and submit them to AFE after verification and auditing.

Article 20

As to the large-value foreign exchange transactions according with the first paragraph of Article 4 of the present Detailed Rules
for Implementation, financial institutions shall fill out and submit a “Monthly Report Form of Large-Value Foreign Exchange Transactions
by Enterprises” (hereinafter referred to as the “Form I”) or a “Monthly Report Form of Large-Value Foreign Exchange Transactions
by Resident and Non-Resident Individuals” (hereinafter referred to as the “Form II”).

As to the suspicious foreign exchange transactions according with the second paragraph of Article 4 of the present Detailed Rules
for Implementation, financial institutions shall fill out and submit a “Monthly Report Form of Suspicious Foreign Exchange Transactions”
(hereinafter referred to as the “Form III”) on the monthly basis.

As to the suspicious foreign exchange transactions according with Article 5 of the present Detailed Rules for Implementation, financial
institutions shall promptly fill out and submit a “Report Form of Suspicious Foreign Exchange Transactions Identified by Financial
Institutions” (hereinafter referred to as the “Form IV”) or a (Report) Form for the Handing-over of Cases of (Clues to) Suspected
Money Laundering Activities in the Foreign Exchange Field (See Attachment 1) with the relevant materials attached.

Article 21

Every branch office of financial institutions shall, within the first five working days of each month, itemize the information of
large-value and suspicious foreign exchange transactions that have occurred in the preceding month by filling out Forms I, II and
III, and submit these forms through its superior office to the principal reporting unit and to the local AFE in both paper and electronic
forms.

The head office of every financial institution shall, within the first five working days of each month, itemize the information of
large-value and suspicious foreign exchange transactions that have occurred within the head office in the preceding month by filling
out Forms I, II and III and submit these forms to the local AFE in both paper and electronic forms.

Article 22

Every principal reporting unit shall, within the first 15 days of each month, itemize the information of large-value and suspicious
foreign exchange transactions that have taken place in the head office in the preceding month by filling out Forms I, II and III
and submit these forms to its head office and to the SAFE branch or the department for foreign exchange control of the province,
autonomous region or municipality directly under the Central Government where it is located in both paper and electronic forms.

Article 23

The head office of every financial institution shall, within the first 20 days of each month, itemize the information of large-value
and suspicious foreign exchange transactions that have taken place within its jurisdiction in the preceding month by filling out
Forms I, II and III and submit these forms to the SAFE in electronic form.

Article 24

Every financial institution shall examine the suspicious foreign exchange transactions according with Article 5 of the present Detailed
Rules for Implementation and, in the case of discovery of any suspected money laundering activity, fill out Form IV and submit it
to the local AFE attached with the relevant materials within three working days from the discovery.

Article 25

Where any financial institution discovers a crime of (clue to) suspected money laundering, it shall, within three working days from
the discovery, fill out a (Report) Form for the Handing over of Cases of (Clues to) Suspected Money Laundering Activities in the
Foreign Exchange Field and hand it over to the public security department attached with the relevant materials and submit a copy
of the Form to the local AFE.

Article 26

Financial institutions may computerize the collection of reporting data concerning large-value foreign exchange transactions and suspicious
foreign exchange transactions that can be quantitatively described, provided that:

(1)

the integrity, standardization and reality of the information be ensured;

(2)

the data originate from the accounting data and other core business data in the original database of the financial institution; and

(3)

the quantification indicators and interface specification as issued by the SAFE be abided by.

Chapter IV The Gathering, Filtering, Identification, Analysis, Investigation, Verification and Treatment by the AFE of Reporting Data
Concerning Large-Value and Suspicious Foreign Exchange Transactions

Article 27

The AFE shall, pursuant to the specified procedure, examine the standardization of the reporting forms submitted by financial institutions,
and if any reporting form fails to meet the requirement for standardization, charge the financial institution concerned to promptly
fill out and submit another proper reporting form.

The branch or the foreign exchange control department of SAFE of every province, autonomous region or municipality directly under
the Central Government shall respectively itemize Forms I, II and III that meet the requirement for standardization and submit the
itemized materials to the SAFE before the 20th every month.

After receiving Forms IV and (Report) Forms for the Handing-over of Cases of (Clues to) Suspected Money Laundering Activities in the
Foreign Exchange Field as submitted by financial institutions, every SAFE sub-branch shall submit them through its superior office
to the SAFE branch or foreign exchange control department of the province, autonomous region or municipality directly under the Central
Government which shall make a prompt itemization and submit the itemized materials to the SAFE.

Article 28

The AFE shall promptly input into its database and itemize, filter, identify, analyze and verify the electronic data that meets the
requirement for standardization and submit analysis reports (monthly and quarterly) to its superior office based on the relevant
provisions.

Article 29

Where the superior office of an AFE hands over any information on suspicious foreign exchange transactions for verification to the
inferior office, the superior office shall fill out a Sheet for the Handing-over of Information on Large-value and Suspicious Foreign
Exchange Transactions Involved in Cases (See Attachment 2). The inferior office shall promptly make such verification and report
the verification and treatment result to the superior office within a specified time limit.

Article 30

Where any assistance of another SAFE branch or sub-branch is required for verification of the information on foreign exchange transactions,
the requesting branch or sub-branch shall fill out a Letter Requesting Assistance for Verification of Large-value and Suspicious
Foreign Exchange Transactions (See Attachment 3), and the requested branch or sub-branch shall promptly make such verification and
notify the requesting branch or sub-branch of the result of the verification.

Article 31

Where any assistance of a financial institution is required for verification of the information on foreign exchange transactions,
the requesting AFE shall fill out a Notice of Out-of-spot Verification of Large-value and Suspicious Foreign Exchange Transactions
(See Attachment 4). The requested financial institution shall provide such assistance as requested and notify the requesting AFE
of the verification result.

Article 32

In cast the AFE discovers any suspected crime of (clue to) money laundering, it shall hand over the case or clue to the public security
department according to the Provisions Concerning the Cooperation Between the Public Security Department and the State Administration
of Foreign Exchange in Anti-money Laundering Practices in the Foreign Exchange Field; in the case of discovery of any other suspected
offence (clue), it shall hand the case (clue) over to the relevant law enforcement organ according to the Operating Rules for Handing
over Cases.

Article 33

The AFE shall severely deal with, according to law, suspected violations of the provisions on foreign exchange control discovered
during the verification.

The SAFE branch or foreign exchange control department of every province, autonomous region or municipality directly under the Central
Government shall, on a monthly basis, submit to the SAFE a report on the following work conducted by itself and the SAFEs subordinate
to it by making use of the reporting information of large-value and suspicious foreign exchange transactions:

(1)

discovering clues to suspected crimes and handing over the cases to the public security department;

(2)

providing assistance to the judicial and other law enforcement organs;

(3)

discovering and dealing with suspected violations of the provisions on the foreign exchange control.

Chapter V Legal Responsibility

Article 34

Where any financial institution fails to report any large-value or suspicious foreign exchange transaction or fails to do so timely
, it shall be given a warning and a fine of 50,000 up to 300,000 yuan by the AFE pursuant to Article 25 of the Measures for Punishment
of Illegal Financial Activities.

Article 35

Where any financial institution opens an foreign exchange account for an enterprise without examining the customer information or
without requiring all of the necessary customer information according to the relevant provisions, it shall be charged to make corrections
and cancel the foreign exchange account, condemned publicly and given a fine of 50,000 up to 300,000 yuan by the AFE pursuant to
Article 47 of the Regulations of the People’s Republic of China on Foreign Exchange Control.

Article 36

Where any financial institution is involved in any of the following circumstances, it shall be charged to make corrections, condemned
publicly and given a fine of 50,000 up to 300,000 yuan by the AFE pursuant to Article 49 of the Regulations of the People’s Republic
of China on Foreign Exchange Control:

(1)

failing to provide assistance to the AFE by making out-of-spot verification of anti-money laundering information;

(2)

failing to provide assistance to the AFE by making spot verification of anti-money laundering information;

(3)

failing to establish an internal anti-money laundering control system according to relevant provisions; and

(4)

failing to be cooperative in the inspection and supervision by the AFE over the anti-laundering work.

Article 37

Where any financial institution is involved in any of the following circumstances, it shall be charged to make corrections and given
a warning and may be given a fine of 10,000 up to 30,000 yuan pursuant to Article 17 of the Measures:

(1)

failing to submit integrated report of large-value and suspicious foreign exchange transactions according to the relevant provisions;

(2)

failing to accurately report information of large-value and suspicious foreign exchange transactions according to the relevant provisions;

(3)

failing to keep records of large-value and suspicious foreign exchange transactions and the relevant materials according to the relevant
provisions; and

(4)

violating the relevant provisions by disclosing the information of any large-value and suspicious foreign exchange transactions or
of any of its customers being enquired, verified or investigated.

Article 38

Where any financial institution opens a foreign exchange account for any individual without examining the customer information or
without requiring all of the necessary customer information according to the relevant provisions, it shall be charged to make corrections
and given a warning and may be given a fine of 1,000 up to 5,000 yuan by the AFE pursuant to Article 18 of the Measures for Administration.

Article 39

Where any financial institution violates any of the anti-money laundering provisions when handling foreign exchange business and causes
heavy losses as a result, the AFE shall suspend or cease part or all of its foreign exchange settlement and sales business pursuant
to Article 19 of the Measures for Administration, and may suggest other financial supervisory authorities to suspend or cease other
foreign exchange business of the financial institution.

Article 40

Where any staff member of a financial institution violates the relevant provisions and provides assistance in money-laundering activities,
he shall be given a disciplinary punishment in accordance with Article 20 of the Measures for Administration; if a crime is constituted,
he shall be transferred to the judicial organ to be investigated for criminal responsibility.

Chapter VI Supplementary Provisions

Article 41

The “Principal reporting unit” means tier-one branches located in capitals of provinces and autonomous regions and in municipalities
directly under the Central Government of a financial institution, or special offices designated by a financial institution to collect,
itemize and report to the SAFE branch or foreign exchange control department of the province, autonomous region or municipality directly
under the Central Government large-value and suspicious foreign exchange transactions that have taken place in all branch and sub-branch
offices in such region.

Article 42

The provisions of the Measures for Administration and the present Detailed Rules for Implementation concerning the reporting of large-value
and suspicious foreign exchange transactions by enterprises shall be applicable to the reporting of large-value and suspicious foreign
exchange transactions by any domestic institution such as a state organ, social organization or army unit, any overseas institution
that opens an account within a domestic financial institution and makes exchange, receives and pays foreign exchange through such
account, and any overseas institution that handles foreign exchange business through a domestic financial institution without having
an account therewith.

Article 43

The power to interpret the present Detailed Rules for Implementation shall remain with the SAFE.

Article 44

The present Detailed Rules for Implementation shall come into force as of the date of promulgation.

Attachment 1 (Report) Form for the Handing-over of Cases of (Clues to) Suspected Money Laundering Activities in the Foreign Exchange
Field (omitted)

Attachment 2 Sheet for the Handing-over of Information on Large-value and Suspicious Foreign Exchange Transactions Involved in Cases
(omitted)

Attachment 3 Letter Requesting Assistance for Verification of Large-value and Suspicious Foreign Exchange Transactions (omitted)

Attachment 4 Notice of Out-of-spot Verification of Large-value and Suspicious Foreign Exchange Transactions (omitted)

the State Administration of Foreign Exchange
2004-10-12

NOTICE OF THE MINISTRY OF COMMERCE AND THE STATE ADMINISTRATION OF TAXATION ON RELEVANT ISSUES CONCERNING UNDERTAKING FINANCING LEASE BUSINESS

the Ministry of Commerce, the State Administration of Taxation

Notice of the Ministry of Commerce and the State Administration of Taxation on Relevant Issues concerning Undertaking Financing Lease
Business

Shang Jian Fa [2004] No.560

The competent departments of commerce of all the provinces, autonomous regions, municipalities directly under the Central Government
and cities directly under state planning, the state administration of taxation and the local administrations of taxation,

For the purpose of further bringing into play the role of leasing industry in the expansion of domestic demand and promotion of economic
development, and supporting the rapid and healthy development of leasing industry, the following notice are formulated hereby on
the relevant issues concerning the carrying out of financing lease business:

According to the provisions of the Ministry of Commerce on the “Three Fixings” (fixing the function, fixing the institution and fixing
the size of staff) issued by the General Office of the State Council, the relevant functions of the former State Economic and Trade
Commission and the former Ministry of Foreign Trade and Economic Cooperation on administering leasing industry and foreign-funded
leasing companies shall come under the administration of the Ministry of Commerce. In the future, all the administrative functions
of the former State Economic and Trade Commission and the Ministry of Foreign Trade and Economic Cooperation referred to in the Notice
of the Ministry of Finance and the State Administration of Taxation on Several Policy Issues on Business Tax, shall be burdened by
the Ministry of Commerce.

II.

The relevant provisions of the Ministry of Commerce shall be continuously followed for the work of market access of and industry supervision
over foreign-funded leasing companies.

III.

The Ministry of Commerce will carry out the experimental work for undertaking financing lease business in Chinese-funded leasing enterprises.
The competent departments of commerce of all the provinces, autonomous regions, municipalities directly under the Central Government
and cities directly under state planning may recommend one or two enterprises which undertake the leasing business of various advanced
or applicable equipments used in production, communications, medical treatment, environmental protection, scientific and research
and etc., and engineering machinery and traffic conveyances (including airplane, steamships, automobiles and etc.) to take part in
the experimental work in the light of the actuality of development of leasing industry in their own regions. The recommended enterprises
shall be brought into the scope of financing lease experiment after being confirmed jointly by the Ministry of Commerce and the State
Administration of Taxation.

IV.

A pilot enterprise which undertakes financing lease business (hereinafter referred to as the financing lease pilot enterprise) shall
have the following qualifications concurrently:

The minimum registered capital of any Chinese-funded leasing enterprise that was established before or on August 31st, 2001 shall
reach RMB 40 million Yuan. The minimum registered capital of any Chinese-funded leasing enterprise that was established during the
period of September 1st, 2001 to December 31st, 2003 shall reach RMB 170 million Yuan;

It has a perfect internal management system and a perfect risk control system;

It has corresponding professionals in aspects of finance, trade, law, accounting and etc.; and the senior managers shall have experiences
in leasing industry for not less than three years;

It has good business achievements in the past two years and has no records of violation of laws and regulations;

It has the industry background relating to its undertaking of financing lease product; and

Other qualifications as prescribed by laws and regulations.

Besides the recommendation letter, the financing lease pilot enterprise recommended by the competent department of commerce at the
provincial level shall submit the following documents:

the application of the enterprise for undertaking financing lease business and the feasibility study report;

the duplicate (or photocopy) of the business license;

articles of association of the company, documents of internal management system and risk control system of the enterprise;

financial statements in the past three years issued by a qualified accountant firm;

certificate proving that it has no records of violation of laws and regulation in the past two years; and

the name list and qualification certificates of senior management personnel.

VI.

The financing lease companies as listed in Articles 2 and 3 of the present Notice (that is the Chinese-funded financing lease pilot
enterprises, the foreign-funded financing lease companies) may enjoy the business tax policies on financing lease business in accordance
with the provisions of the Notice of the Ministry of Finance and the State Administration of Taxation on Several Policy Issues concerning
Business Tax (No. 16 [2003] of the Ministry of Finance).

VII.

A financing lease company shall pay all kinds of taxes in time strictly according to the relevant provisions of the state. If it violates
the tax laws and regulations of the state or evades tax money, the tax organ shall give it a punishment according to the Law of the
People’s Republic of China on the Administration of Tax Collection and the relevant provisions of tax laws and regulations, and shall
cancel the financing lease tax policy implemented to the enterprise at the same time.

When any financing lease company purchases any equipment from its affiliated production enterprises, the settlement price of the relevant
equipment shall be not lower than the price sold to any third party (or the price of the same batch of equipment) by the production
enterprise.

VIII.

Any financing lease pilot enterprise shall strictly conform with the relevant laws and regulations of the state, and may not undertake
the following businesses:

absorbing deposits or depositing in disguised form;

providing loans of circulating fund and other loans under the leasing item to the tenant;

securities investment or equity investment of financial institutions;

Inter-bank borrowing or lending business; or

Other financial businesses not being approved by the China Banking Regulatory Commission.

IX.

The risk assets (including balance of guaranty) of any financing lease pilot enterprise may not exceed 10 times of the total capital.

A financing lease pilot enterprise shall report the business conditions in the previous quarter to the provincial competent department
of commerce before the 15th day each quarter and send a copy to the Ministry of Commerce. The Ministry of Commerce and the State
Administration of Taxation shall make spot check on the business conditions of the pilot enterprise periodically or aperiodically.
For any enterprise that violates the relevant laws and regulations and the aforesaid provisions, the Ministry of Commerce shall cancel
its qualification as a financing lease pilot enterprise.

XI.

The competent department of commerce and the competent department of taxation of each region shall strengthen supervision over the
financing lease pilot enterprises, make research on the problems existing in the experimental work, and report to the Ministry of
Commerce and the State Administration of Taxation once any major issue is discovered. Meanwhile, they shall summarize experiment
experiences continuously and take effective measures to promote the healthy development of leasing industry.

The Ministry of Commerce

The State Administration of Taxation

October 22nd, 2004

the Ministry of Commerce, the State Administration of Taxation
2004-10-22

INTERIM MEASURES FOR DESIGNATION AND ADMINISTRATION OF FOREIGN AID YOUTH VOLUNTEERS

Ministry of Commerce

Order of the Ministry of Commerce of the People’s Republic of China

No. 18

The Interim Measures for Designation and Administration of Foreign Aid Youth Volunteers, which were deliberated and adopted at the
11th executive meeting of the Ministry of Commerce of the People’s Republic of China on September 23, 2004, are hereby promulgated
and shall come into force 30 days after the promulgation day.

Minister Bo Xilai

November 2, 2004

Interim Measures for Designation and Administration of Foreign Aid Youth Volunteers

Article 1

The present Measures are formulated for the purpose of regulating the work of designating and administrating of foreign aid youth
volunteers and promoting the sound development of service work of foreign aid youth volunteers.

Article 2

The foreign aid youth volunteers refer to the youth volunteers who are designated by special institutions and sent to the developing
countries and directly serve the local people of the developing countries by using national foreign aid funds.

Article 3

The foreign aid youth volunteers are mainly assigned to serve the developing countries that are friendly to China in the aspects of
education, medical treatment and health and any other aspect beneficial to the development of public welfare undertaking of the developing
countries.

Article 4

The foreign aid youth volunteers are one component of the national foreign aid personnel and go to work in the developing countries
in the status of volunteers.

Article 5

The Ministry of Commerce shall be in charge of the foreign aid service of foreign aid youth volunteers.The Chinese Young Volunteers
Association shall be entrusted by the Ministry of Commerce with the work of designation and specific administration of foreign aid
youth volunteers.

Article 6

A foreign aid youth volunteer shall meet the following conditions:

(1)

having the nationality of the People’s Republic of China;

(2)

being at the ages of 20 up to 35 in general, and the prescriptions about the age may be relaxed where it is necessary for the service
work of foreign aid youth volunteers;

(3)

being in good health;

(4)

being a graduate of a regular college (university) or above in general;

(5)

being of good moral , and having no record of crimes or demerits; and

(6)

being faithful to the motherland, willing to dedicate , love to the cause of volunteer service, and volunteering to engage in volunteer
service to a developing country.

Article 7

A foreign aid youth volunteer shall abide by rules relating to the dispatch of foreign aid youth volunteers and rules relating to
the foreign aid personnel, be subject to administration of the Chinese embassy (consulate) in the foreign country. He shall abide
by laws and regulations of the aid recipient , and respect the customs and habits of the aid recipient as well as all rules and
regulations of the serviced entity.

Article 8

The Ministry of Commerce shall be responsible for working out the annual plans for dispatch of foreign aid youth volunteers, including
the designated countries, number of volunteers, positions and service time as well as the capital budget.

Article 9

The Ministry of Commerce shall be responsible for negotiating and signing corporative agreements with the relevant departments of
the aid recipient .The Chinese Young Volunteers Association shall be responsible for recruiting, selecting, training and dispatching
foreign aid youth volunteers according to the corporative agreements.

Article 10

The economic and commercial counsellor’s offices of the Chinese embassies (consulates) in foreign countries shall be responsible for
the administration of foreign aid youth volunteers during their missions in foreign countries.

Article 11

The Chinese Young Volunteers Association may issue recruitment notices by virtue of the websites of the Ministry of Commerce and the
Chinese Volunteers Service (www.zyz.org.cn) and news media, publicly recruit foreign aid youth volunteers from the general public,
and may conduct directional recruitment aimed at specific districts or entities if it is required.

Article 12

The Chinese Young Volunteers Association shall, pursuant to the principles of openness, impartiality and fairness, select and employ
foreign aid youth volunteers through the procedures of centralized examination, announcement of results and employment. The list
of foreign aid youth volunteers shall be reported to the Ministry of Commerce for archival filing.

Article 13

The Chinese Young Volunteers Association shall sign volunteer service contracts with the foreign aid youth volunteers pursuant to
the state rules relating to foreign aid youth volunteers .

Article 14

The Chinese Young Volunteers Association shall conduct centralized trainings to the foreign aid youth volunteers before they go abroad
to offer service. And prior to the training, it shall work out a training plan which shall be implemented after being reported to
and approved by the Ministry of Commerce.

Article 15

The Chinese Young Volunteers Association shall be responsible for handling exit formalities for the foreign aid youth volunteers pursuant
to state rules relating to the dispatch of foreign aid personnel.

Article 16

The service period of foreign aid youth volunteers shall be six months up to two years, and generally shall be more than one year.

Article 17

The Chinese Young Volunteers Association shall examine the conducts of the foreign aid youth volunteers during the period of their
services in the aid recipient. During the examination, it shall obtain the opinions of the economic and commercial counsellor’s offices
of the Chinese embassies (consulates) in foreign countries. And the examination results shall be reported to the Ministry of Commerce
and notified to the recommendation entities or former work places after the examination . Any foreign aid youth volunteer who has
successfully accomplished service missions will get a certificate of honor of youth volunteer to foreign aid. Any foreign aid youth
volunteer who has excellent performance may be recommended to work for the economic and commercial counsellor’s office of the Chinese
embassy (consulate) in foreign country or an expert group of foreign aid.

Article 18

The rules on the expenses relating to the foreign aid youth volunteers shall be formulated by the Ministry of Commerce jointly with
the relevant departments.

Article 19

The interpretation of the present Measures shall remain with the Ministry of Commerce. The present Measures shall come into force
30 days after the promulgation day.

Ministry of Commerce
2004-11-02

MEASURES FOR THE ADMINISTRATION OF PRINTED ADVERTISEMENT

the State Administration for Industry and Commerce

Order of the State Administration for Industry and Commerce of the People’s Republic of China

No. 17

The Measures for the Administration of Printed Advertisement, which were adopted at the executive meeting of the State Administration
for Industry and Commerce of the People’s Republic of China, are promulgated hereby and shall go into effect as of January 1, 2005.

Director General of the State Administration for Industry and Commerce Wang Zhongfu

November 30, 2004

Measures for the Administration of Printed Advertisement

Article 1

With a view to enforcing the administration of printed advertisements, protecting the legal rights and interests of the consumers
and business operators, and maintaining a market order of fair competition, the present Measures are formulated in accordance with
the Advertising Law of the People’s Republic of China, the Regulations on Advertising Administration and other relevant provisions
of the State.

Article 2

The printed advertisements, subject to the administration of the present Measures, refer to printed advertisements in the common forms
of leaflets, posters, and brochures by which an advertiser publicizes by himself or commissions an advertising operator to publicize
for the introduction of the commodities and services that he promotes, or printed advertisements in a fixed form such as specialized
publications with fixed names, specifications, and patterns by which an advertising operator publicizes for the introduction of the
commodities and service that any other person promotes.

Article 3

A printed advertisement shall be true, lawful and conforming with the requirements for the development of socialist spiritual civilization,
and shall not contain any false information or deceive or mislead consumers.

Article 4

A printed advertisement shall be identifiable as a kind of printed advertisement by consumers, and shall not contain such non-advertisement
information as news reports.

Article 5

The publication of a printed advertisement shall not disturb the public order, social production or the people’s life. No printed
advertisement may be published in any site or area wherein the said advertisement is prohibited by any law or regulation or the local
people’s governments at or above the county level.

Article 6

Where an advertiser himself publishes a common form printed advertisement, the advertiser’s name and address shall be indicated; where
an advertiser commissions an advertising operator to design, produce or publish a common form printed advertisement, the name and
address of the advertising operator shall be indicated as well.

Article 7

Where an advertiser or an advertising operator use printed matter to publish the advertisements of such commodities as medicines,
medical apparatuses, pesticides, veterinary drugs and other advertisements which are subject to censorship as prescribed by laws
and administrative regulations, it shall obtain corresponding examination and approval documents of advertising in accordance with
the relevant laws and administrative regulations, and shall publish advertisements according to the advertising censorship documents.

Article 8

An advertising operator, who applies for issuing printed advertisement in a fixed form, shall meet the following conditions:

(1)

Taking advertising as its main business, its business scope including acting as an agent or an advertisement publisher, and its enterprise
name indicating that the industry which the enterprise belongs to is “advertising”;

(2)

Having a registered capital of no less than 1,500,000 Yuan;

(3)

The enterprise having been established for three years or more.

Article 9

When publishing a fixed form printed advertisement, an advertising operator shall apply to the administration for industry and commerce
of the province, autonomous region, municipality directly under the Central Government or city directly under State planning where
it is located, and shall submit the following application materials:

(1)

An application report (with such content of the fixed form printed advertisement which is applied for as the name and specifications;
the issue number, time, quantity and range of issuance; the type of the commodities and services to be introduced; the object, manner,
channel of issuing; etc.);

(2)

A photocopy of the business license;

(3)

An application form for the registration of the fixed form printed advertisement;

(4)

The sample of the first page of the printed advertisement in a fixed form.

Article 10

When the application materials are incomplete or fail to be in conformity with the legal form, the administration for industry and
commerce of the provinces, autonomous regions, municipalities directly under the Central Government and cities directly under State
planning shall, once for all within five days, inform the advertising operator of all the content need to be supplemented and corrected.
When the application materials are complete and in conformity with the legal form, the said administration shall, give a notice of
acceptance and make a decision within 20 days from the date of acceptance. If approval is granted, a Fixed Form Printed Advertisement
Registration Permit shall be issued. If it is not approved, an explanation shall be given in writing.

Article 11

The term of validity of the Fixed Form Printed Advertisement Registration Permit is 2 years. An advertising operator may apply to
the original registration organ for renewing the permit 30 days prior to the expiry date.

Article 12

An advertising operator shall indicate, on the top of the first page of a fixed form printed advertisement, the name of the fixed
form printed advertisement, the name and address of the advertising operator, the registration permit number, the issue number and
publishing time of the advertisement, and the unified mark of “DM”.

The name of a fixed form printed advertisement shall be composed of the following three parts arranged in proper order: the administrative
division in the enterprise name of the advertising operator + the name of the enterprise + the word “advertisement”. The written
name of the fixed form printed advertisement shall be noticeable, and all the integral parts shall be in identical size and font,
and the name shall take up an area of no less than 10% of the first page.

Article 13

The first page and last page of a fixed form printed advertisement shall be the advertisement page. An advertising operator shall
not print the post_title or table of contents of the advertisements therein on the first page. Such dictions as “host”, “assist”, “producer”,
“editorial board”, “editor”, “publish”, “this publication”, “magazine”, “special”, etc., which are easily confused with those as
used in newspapers or journals, shall not be used in a fixed form printed advertisement.

Article 14

The catalogue of advertisements or index in a fixed form printed advertisement shall consist of the names of the commodities (trademarks)
or the names of the advertisers. The corresponding advertisement content shall be able to clearly and specifically indicate the advertisers
and the commodities or services thereof under sales promotion. An advertising operator shall not publish an advertisement in the
form of news report.

Article 15

An advertising operator, when publishing a Chinese-foreign language printed advertisement in a fixed form to cater to any special
group, shall not violate any State regulation concerning language.

Article 16

An advertising operator shall publish a fixed form printed advertisement according to the name, specifications and patterns as approved,
and shall accept the supervision and examination of the administrations for industry and commerce. An advertising operator shall
submit a sample of the fixed form printed advertisement and other related materials as required, and may not conceal the real situation
or provide false materials.

An advertising operator shall not alter, scalp, lease or lend the Fixed Form Printed Advertisement Registration Permit, and shall
not have its fixed form printed advertisement published or operated by any other person by means of transfer.

Article 17

Where a printed advertisement is published in an emporium, drug store, medical service institution, recreation places or other public
places, the advertiser or the advertising operator shall obtain the consent of the manager of the said places. The manager of the
said places shall take charge of the printed advertisements that are distributed, displayed or posted within its jurisdiction, and
shall reject the issuance of any advertisement violating any of the advertising laws and regulations.

Article 18

Any printing enterprise of printed advertisements shall abide by the relevant regulations, and shall not print any printed advertisement
with illegal content.

Article 19

Anyone who violates the present Measures shall be punished in accordance with such relevant laws or administrative regulations as
the Advertising Law of the People’s Republic of China, the Regulation on Advertising Administration, etc., and the provisions of
the Detailed Implementing Rules for the Regulation on Advertising Administration. In case any related matter are not prescribed in
such relevant laws or administrative regulations as the Advertising Law of the People’s Republic of China, the Regulations on Advertising
Administration, etc., or in the Detailed Implementing Rules for the Regulation on Advertising Administration, the offender shall
be ordered to cease its unlawful practice by the administration for industry and commerce, and may be imposed a fine of less than
three times the illegal earnings but no more than a maximum of 30,000 Yuan, or a fine of no more than 10,000 Yuan in light of the
circumstances if there are no illegal earnings.

Any individual who unlawfully distributes or posts a printed advertisement shall be ordered to cease the wrongful acts by the administration
for industry and commerce, and shall be imposed a fine of no more than 50 Yuan.

Article 20

Where the situation of the advertising operator that engages in fixed form printed advertisement changes so that it no longer meets
the conditions as prescribed in Article 8 of the present Measures, the Fixed Form Printed Advertisement Registration Permit thereof
shall be revoked by the original registration organ.

Where a fixed form printed advertisement violates the provisions of Article 3 in the present Measures and if the case is serious,
the original registration organ may, in accordance with the provisions of Articles 37, 39 and 41 of the Advertising Law, cease the
violator’s business operations in fixed form printed advertisement and revoke its Fixed Form Printed Advertisement Registration Permit.

Article 21

Where any bill, packing, decoration or product instruction contains any advertising content, it shall be subject to the administration
of the present Measures.

Article 22

The present Measures shall go into effect as of January 1, 2005. The Measures for the Administration of Printed Advertising, which
were promulgated by the Order No. 95 of the State Administration for Industry and Commerce on January 13, 2000, shall be abolished
simultaneously.

the State Administration for Industry and Commerce
2004-11-30

DETAILED RULES FOR THE ADMINISTRATION OF ISSUANCE OF AUTOMATIC IMPORT LICENSES FOR AUTOMOBILE PRODUCTS

the Ministry of Commerce

Announcement of the Ministry of Commerce

No. 92

The Detailed Rules for the Administration of Issuance of Automatic Import Licenses for Automobile Products, which were formulated
in accordance with the Measures for the Administration of Import of Machinery and Electronic Products and the Measures for the Administration
of Automatic Import License of Goods, are promulgated hereby and shall go into effect as of January 1, 2005.

The Ministry of Commerce

December 17, 2004

Detailed Rules for the Administration of Issuance of Automatic Import Licenses for Automobile Products

Article 1

For the purpose of effectively monitoring the information on automobile products, maintaining and regulating the normal order of domestic
automobile market, these Detailed Rules are formulated in line with the Measures for the Administration of Import of Machinery and
Electronic Products and the Measures for the Administration of Automatic Import License of Goods.

Article 2

The automobile products as mentioned in these Detailed Rules shall refer to finished automobiles, whole-set automobile fittings, assemblies
or systems of fittings which constitute the features of finished automobiles, assemblies or systems of automobile parts, as well
as key automobile components and parts. For the specific names and codes of the merchandises, please refer to the Catalogue of Goods
Subject to Automatic Import License.

Article 3

The Ministry of Commerce shall be responsible for the administration of automatic import license for automobile products . For the
automobile products subject to the administration of the Ministry of Commerce that is listed in the Catalogue of Goods Subject to
Automatic Import License, the Automatic Import License shall be issued by the Ministry of Commerce; for other automobile products,
however, the Automatic Import License shall be issued by the local or departmental offices in charge of the import and export of
machinery and electronic products.

Article 4

With respect to the automobile products listed in the Catalogue of Goods Subject to Automatic Import License, which are imported by
such means as ordinary trade, barter trade, small quantity frontier trade, lease, assistance, presenting and donation, the importing
entity shall, before declaring to the Customs for clearance, apply to the Ministry of Commerce or the local or departmental office
in charge of the import and export of machinery and electronic products, which is authorized by the Ministry of Commerce (hereinafter
referred to as the issuing bodies) for the Automatic Import License.

Article 5

An entity applying for importing automobile products shall, in addition to the materials as prescribed in Article 8 of the Measures
for the Administration of Automatic Import License of Goods, submit the following materials accordingly under any of the following
circumstances:

(1)

When applying for import of automobiles for sale, it shall submit the testimonial on its authorized automobile brand distribution
(at the time of initial application in the Gregorian calendar year).

(2)

When applying for importation of automobiles for self use by means of ordinary trade, it shall submit its business license or organization
certificate (photocopy); when applying for import of automobiles for self use by means of assistance, donation or presenting, it
shall submit its business license or organization certificate (photocopy) and the testimonials relating to such assistance, donation
or presenting.

(3)

In case an automobile production enterprise applies for importing whole-set fittings (including SKD and CKD) or assemblies (systems)
of parts for production of automobiles, it shall submit the Announcement on the Road Motor Vehicle Production Enterprises and Their
Products in which the type of automobile it produces is listed.

The importing entity shall be responsible for the authenticity of the materials it has submitted, and guarantee that its relevant
business activities comply with the laws and administrative regulations of the State.

Article 6

The application for the Automatic Import License for automobile products may be filed with the issuing body either through computer
network or in writing.

On-line application: the entity applying for import may login the website authorized by the Ministry of Commerce (that is, www.chinabidding.com),
enter into the online application system for the import license, truthfully fill in the Application Form for Importation of Machinery
and Electronic Products and other materials as required online, and meanwhile submits the relevant materials as required by Article
5 of these Detailed Rules to the corresponding issuing body.

Written application: the entity applying for import may obtain the Application Form for Importation of Machinery and Electronic Products
from the issuing body or download it (which may be copied) from the website authorized by the Ministry of Commerce www.chinabidding.com),
and then truthfully fill in the Form as required, and submit it together with other materials prescribed in these Detailed Rules
to the issuing body by delivery, by mail, or by other suitable means.

Article 7

To apply for importing the automobile products that are listed in the Catalogue of Goods Subject to Automatic Import License, which
are administered by the Ministry of Commerce, the applicant’s application materials must be verified by the local or departmental
office in charge of import and export of machinery and electronic products. The local or departmental office in charge of import
and export of machinery and electronic products shall, after receipt of the complete application materials, verify them immediately
or within 3 working days at the longest, and shall submit them to the Ministry of Commerce after verification. The Ministry of Commerce
shall, after receipt of the application that are considered as correct in content and complete in form, issue the Automatic Import
License immediately, or within 10 working days under a particular circumstance.

Article 8

To apply for importing the automobile products that are listed in the Catalogue of Goods Subject to Automatic Import License, which
are administered by the local or departmental office in charge of import and export in charge of machinery and electronic products,
the local or departmental office in charge of import and export of machinery and electronic products shall, after receipt of the
complete application materials, issue the Automatic Import License immediately, or within 10 working days under a particular circumstance.

Article 9

Upon verification by the relevant department that automobile components and parts constituting features of finished automobile are
imported, the Ministry of Commerce shall print and indicate “Constituting Features of Finished Automobile” in the remarks column
of the Automatic Import License it issues.

Article 10

The automobile products imported for processing trade shall be re-exported in accordance with the provisions. In case the automobile
products can not be exported due to certain reasons and need to be marketed inside China, the application shall be filed with the
Ministry of Commerce by the enterprise in accordance with the relevant provisions on ordinary trade if such automobile products are
subject to the administration of the Ministry of Commerce, and the Ministry of Commerce shall be responsible for issuing the Automatic
Import License; while for other automobile products, the application shall be filed by the enterprise with the office at its locality
or the office of the department to which it is subordinate in charge of import and export of machinery and electronic products, and
the said offices shall be responsible for issuing the Automatic Import License. Each competent department for commercial processing
trade at the provincial level shall, in accordance with the relevant provisions in the Measures for the Administration of Examination
and Approval and Domestic Marketing of Automobiles Processing Trade, issue the Approval Certificate for Domestic Marketing of Bonded
Materials and Components Imported for Processing Trade on the strength of the Automatic Import License issued.

In case the automobile products within an export processing zone need to be sold to the outside of the zone and within the territory
of China, the importing entity must apply for the Automatic Import License in accordance with these Detailed Rules.

Article 11

A foreign-funded enterprise that imports automobiles (finished automobiles) for self use shall go through the import procedures in
accordance with the relevant provisions.

Article 12

The Customs shall, on the strength of the Automatic Import License sealed with a special stamp of automatic import license for machinery
and electronic products, handle the procedures related to inspection and clearance, while the bank shall handle the procedures related
to sales and payment of foreign exchanges on the strength of the Automatic Import License.

Article 13

The Automatic Import License for automobile products shall be under the administration of either “one license for one batch” or “one
license for not only one batch”.

Article 14

The term of validity of an Automatic Import License for automobile products shall be six months, and the “Automatic Import License”
may only be valid within the Gregorian calendar year in which it is issued.

The content of the Automatic Import License shall not be altered.

In case any Automatic Import License needs to be renewed or modified, the party concerned shall re-apply for a new one, and return
the old one to the original issuing body for revocation.

Article 15

In case the Automatic Import License for automobile products is unable to be used or has not been used up within the term of validity,
it shall be returned to the original issuing body within its term of validity.

Article 16

In case an Automatic Import License is lost, the entity applying for import shall immediately report in writing the loss to the original
issuing body and the Customs which has been specified as the importing port on the Automatic Import License. If the loss has no ill
consequence upon verification, the original issuing body may issue a new one; if, however, the loss causes any ill consequence, the
said entity shall be subject to punishment on the basis of the effect caused, from a warning to suspension of the issuance of its
Automatic Import License.

Article 17

Whoever fails to apply for the Automatic Import License in accordance with these Detailed Rules but discretionarily imports automobile
products subject to administration of automatic import license shall be punished or penalized by the Customs in accordance with the
relevant laws and administrative regulations. If a crime is constituted, he/it shall be prosecuted for criminal liabilities in accordance
with the law.

Article 18

Whoever forges, alters, buys or sells the Automatic Import License for automobile products, or obtains the Automatic Import License
by fraud or by other foul means, shall be penalized in accordance with the relevant laws and administrative regulations. If a crime
is constituted, he/it shall be prosecuted for criminal liabilities in accordance with the law.

Article 19

The power to interpret these Detailed Rules shall be vested inthe Ministry of Commerce.

Article 20

These Detailed Rules shall go into effect as of January 1, 2005.

the Ministry of Commerce
2004-12-17

NOTICE OF CHINA SECURITIES REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING THE REGULATION OF ACTS OF TRANSFERRING ACTUAL CONTROLLING RIGHTS OF LISTED COMPANIES

2004010720040107China Securities Regulatory Commissionepdf/e03335.pdfIlisted companies, controlling rights, acts of transferring, share right trusteeship, company trusteeshipe03335Notice of China Securities Regulatory Commission on the Relevant Issues concerning the Regulation of Acts of Transferring Actual Controlling
Rights of Listed CompaniesZhengJianGongSiZi [2004] No.1January 7, 2004All the listed companies:Since the promulgation of the Regulations on the Takeover of Listed Companies (hereinafter referred to as the “Takeover Regulations”),
the corporate control market for listed companies has developed further, and the takeover of listed companies is more transparent
and standardizing, which has accelerated the innovation of the merger and acquisition (M&A) market. Because the transfer of the
actual controlling right of listed companies concerns the sound management, sustainable development and the rights and interests
of the wide minority shareholders, touches the normal order of the securities market, the Takeover Regulations have prescribed that
the controlling shareholders (including other actual controlling parties) and purchasers shall have the fiduciary duty to listed
companies and other shareholders, and are prohibited from impairing the legal rights and interests of the company being taken over
and other shareholders through the takeover of listed companies.But recently, the controlling shareholders of some listed companies have transferred the voting rights of the shares they hold in
advance to purchasers in the name of “share right trusteeship” or “company trusteeship” through concluding share transfer agreements
with the purchasers or by other means violating legal procedures, which leads to the purchasers’ actual control of the listed companies
through controlling the voting rights of relevant shares before they become the shareholders of the listed companies. Under such
circumstances, the controlling shareholders do not perform their duties of a controlling shareholder, and the purchasers are in actual
control of the listed companies but do not bear the responsibility of a controlling shareholder, as a result, the management of listed
companies is in an terribly uncertain state, and that provides conveniences for purchasers to willfully infringe upon the rights
and interests of listed companies and other shareholders. Such acts have violated the relevant provisions of the Company Law, the
Takeover Regulations and the Guidelines for the Governance of Listed Companies on the takeover of listed companies.With a view to further regulating the act of transfer of actual controlling right of a listed company, safeguarding the rights and
interests of the listed companies and minority investors, and maintaining the normal order of the securities market, we hereby make
the following notice on the relevant issues:I.The transfer of controlling right of a listed company shall be made normatively according to the relevant provisions of the Takeover
Regulations, and since the date of the promulgation of this Notice, no controlling shareholder of a listed company may transfer the
controlling right of the company in disguised form by way of so called “share right trusteeship” or “company trusteeship” and any
other means violating legal procedures and evading legal obligations.II.In case the takeover of a listed company is made by agreement, the controlling shareholders and the purchasers shall stipulate clearly
in the takeover agreement the rights and duties of the two parties during the transition period after concluding the takeover agreement
and before transferring the relevant shares, and shall take effective measures to ensure the sound transition of the management of
the listed company during the period of transferring the controlling right.During the transition period, the controlling shareholders or purchasers may not impair the rights and interests of the listed company
and the minority shareholders thereof by the takeover act, and they shall also observe the following provisions:1.The controlling shareholders and the purchasers shall keep the independence of the listed company strictly according to the requirements
of the Guidelines for Governance of Listed Company, and improve the corporate governance. Before the transfer of the relevant shares,
the controlling shareholders shall seriously perform their duties of a controlling shareholder, and the purchasers shall seriously
perform the fiduciary duties to the company being taken over and other shareholders according to the provisions of the “Takeover
Regulations”.2.During the transition period, the purchasers are prohibited from re-electing the board of directors of the listed company upon the
suggestion of the controlling shareholders in principle; in case there are sufficient reasons to re-elect the board of directors,
the directors from the purchasers shall not exceed one third of the members of the board of directors.3.During the transition period, the controlling shareholders and the purchasers shall ensure that the ordinary production and management
of the listed company not be influenced. No purchasers may pledge the share right of the listed company. The listed company is prohibited
from financing again, or conducting acts of major purchase, selling assets or great investment, unless there are otherwise circumstances
under which the purchasers have to save the listed company facing serious financial difficulties.4.The listed company and its controlling shareholders, purchasers shall strictly observe the provisions of the Notice on Some Issues
concerning Regulating the Funds between Listed Companies and Associated Parties and Regulating the Listed Companies’ Provision of
Guaranty to Other Parties (No.56 [2003] of China Securities Regulatory Commission). The listed company is prohibited from providing
guaranty to purchasers and the associated parties, and the purchasers and the associated parties are prohibited from impropriating
the capital and assets of the listed company.5.After completing the takeover act, the purchasers shall make self-examination, specifying the adjustment of assets, personnel, businesses
and management of the listed company, and the normative operation of the company during the transition period, and whether there
are circumstances of impairing the interests of the listed company such as providing guaranty or loans to the purchasers and the
associated parties, etc. by the listed company.The board of directors of a listed company shall issue opinions expressly on the self-examination report of the purchasers, and engage
a certified accountant firm, which has the qualifications of practicing securities business, or financial counselors to make special
examination on the business status of the listed company during the transition period, and issue opinions on the comparison of the
outstanding achievements of the company before and after the transfer of actual controlling right, whether the purchasers have failed
to pay off the debts owed to the company, or failed to rescind the guaranty provided by the company or other circumstances of impairing
the interests of the company; in case of any of the above-mentioned circumstances, the board of directors of the listed company shall
take effective measures to protect the interests of the listed company.The self-examination report of the purchasers and the opinions of the board of directors shall be publicized and submitted to the
detached offices of China Securities Regulatory Commission at the place where the listed company is located.III.Where any act of transfer of the actual controlling right of a listed company by the controlling shareholders in violation of legal
procedures occurs before the promulgation of this Notice, it shall be corrected within 6 months after the promulgation of this Notice.
If the takeover of the listed company is to be carried on continually by agreement, it shall be regulated in accordance with the
provisions of Article 2 of this Notice. If the board of directors has been re-elected, the directors of the listed company shall
earnestly perform their fiduciary duties, and handle the relevant proposals cautiously. And all the proposals of the board of directors
shall be regarded as special proposals and approved by over one third of the directors, and the independent directors shall issue
their opinions separately.Where a purchaser fails to reveal the Report on the Takeover of Listed Companies in accordance with the provisions of Takeover Regulations,
it shall make supplementary information disclosure within 2 months after the promulgation of this Notice, and elaborate on the purpose
of the takeover, the adjustment of the purchasers on the assets, businesses and personnel of the listed company, the follow-up plan,
and the handling of the formalities for share rights transfer, etc..After making correction or regulation according to the provisions of the present Notice, the purchasers and the board of directors
of the company taken over shall issue self-examination report and the check-up opinions by referring to the provisions of item (5),
Article 2 of this Notice, and submit them to the detached offices of China Securities Regulatory Commission at the place where the
listed company is located and publish them.IV.Where the acts of transferring the actual controlling right of a listed company by the controlling shareholders violate legal procedures,
which have occurred before the promulgation of the present Notice, and which the controlling shareholders of the listed company and
the purchasers fail to rectify or regulate according to the present Notice, China Securities Regulatory Commission shall order them
to rectify pursuant to the Takeover Regulations and the relevant provisions of Document No.56 (2003) of China Securities Regulatory
Commission.V.The provisions of the present Notice shall be applicable to the companies other than those which entrust the state-owned assets management
entities to manage the state-owned share rights of a listed company due to the authorized management implemented by the department
of state-owned assets management.VI.The present Notice shall enter into force as of the date of its promulgation.

China Securities Regulatory Commission
2004-01-07

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Brazilian Laws

CONSTITUTIONAL AMENDMENTS part 4 – 1988 Constitution

CONSTITUTIONAL AMENDMENTS part 3 – 1988 Constitution

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ON AMENDING THE LAND ADMINISTRATION LAW OF THE PEOPLE’S REPUBLIC OF CHINA

THE DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS ABOUT AMENDING THE FISHERY LAW OF THE PEOPLE’S REPUBLIC OF CHINA

MEASURES FOR THE IMPLEMENTATION OF THE ADMINISTRATIVE LICENSING BY THE PEOPLE’S BANK OF CHINA

DETAILED RULES FOR IMPLEMENTATION OF IMPORT TARIFF QUOTA OF WOOL AND WOOL TOPS IN 2005

DETAILED RULES FOR THE IMPLEMENTATION OF THE MEASURES FOR THE ADMINISTRATION OF FINANCIAL INSTITUTIONS’ REPORT OF LARGE-VALUE AND SUSPICIOUS FOREIGN EXCHANGE TRANSACTIONS

NOTICE OF THE MINISTRY OF COMMERCE AND THE STATE ADMINISTRATION OF TAXATION ON RELEVANT ISSUES CONCERNING UNDERTAKING FINANCING LEASE BUSINESS

INTERIM MEASURES FOR DESIGNATION AND ADMINISTRATION OF FOREIGN AID YOUTH VOLUNTEERS

MEASURES FOR THE ADMINISTRATION OF PRINTED ADVERTISEMENT

DETAILED RULES FOR THE ADMINISTRATION OF ISSUANCE OF AUTOMATIC IMPORT LICENSES FOR AUTOMOBILE PRODUCTS

NOTICE OF CHINA SECURITIES REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING THE REGULATION OF ACTS OF TRANSFERRING ACTUAL CONTROLLING RIGHTS OF LISTED COMPANIES

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