MEASURES FOR THE MANAGEMENT OF AUTO LOANS

the People’s Bank of China, China Banking Regulatory Commission

Order of the People’s Bank of China, China Banking Regulatory Commission

No. 2

The Measures for the Management of Auto Loans, adopted at the fifth president’s working meeting of the People’s Bank of China on March
22, 2004 and at the chairman’s meeting of China Banking Regulatory Commission on August 9, 2004, are hereby promulgated and shall
come into force as of October 1, 2004.

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

Liu Mingkang, the Chairman of the China Banking Regulatory Commission

August 16, 2004

Measures for the Management of Auto Loans

Chapter I General Provisions

Article 1

With the view of standardizing the management of auto loans, preventing risks in auto loan business and promoting the sound development
of auto loan business, the present Measures are formulated in accordance with the Law of the People’s Republic of China on the People’s
Bank of China, Law of the People’s Republic of China on Commercial Banks and Law of the People’s Republic of China on Banking Regulation
and Supervision.

Article 2

The term “auto loan” as mentioned in the present Measures refers to a loan granted by a lender to the borrower for the purchase of
an auto (including a second-hand auto), including auto loans granted to individuals, dealers and institutions.

Article 3

The term “a lender” as mentioned in the present Measures refers to a commercial bank or an urban and rural credit cooperative set
up lawfully within the People’s Republic of China with the approval of China Banking Regulatory Commission (CBRC) and its agency
for engaging in Renminbi loan business, or refers to a non-bank financial institution with the approval for engaging in auto loan
business.

Article 4

The term “a personal auto” as mentioned in the present Measures refers to an auto purchased by a borrower through an auto loan not
for the purpose of profit making; “a business auto” refers to an auto purchased by a borrower through an auto loan for the purpose
of profit making; “a second-hand auto” refers to an auto whose ownership is changed, with the formalities for ownership transfer
handled according to law, during the period from the completion of motor vehicle registration formalities to the day that is one
year before its scrapping as specified.

Article 5

The interest rate on auto loans shall comply with the provisions on loan interest rates as promulgated by the People’s Bank of China,
and the methods for the calculation and settlement of interests shall be determined by the borrower and lender through consultation.

Article 6

The terms of auto loans (including the extension periods) may not be longer than five years, of which, the terms of loans for second-hand
autos (including the extension periods) may not be longer than three years, and the terms of loans to dealers may not be longer than
one year.

Article 7

Both the borrower and the lender shall abide by the principles of equality, voluntariness, honesty and faith-keeping.

Chapter II Auto Loans to Individuals

Article 8

The term “an auto loan to an individual” as mentioned in the present Measures refers to the loan granted by a lender to an individual
borrower for the purchase of an auto.

Article 9

When applying for an auto loan, an individual must meet the following requirements:

(1)

being a citizen of the People’s Republic of China, or a resident of Hong Kong, Macao or Taiwan or a foreigner who has successively
resided in China for at least one year;

(2)

having a valid ID certificate, settled and particular dwelling place and full capacity for civil conduct;

(3)

having stable source of legitimate income or legal personal assets sufficient to pay off the principal and interests of the loan;

(4)

having a good personal credit,

(5)

being able to make the down payment as provided herein; and

(6)

other requirements as specified by the lender.

Article 10

When granting an auto loan to an individual, the lender shall synthetically take following factors into account and decide the amount
and term of, interest rate on, and methods of repayment of the principal and interests of the loan:

(1)

the borrower’s credit grade as assessed by the lender;

(2)

the guarantee of the loan;

(3)

the performance and purpose of the auto purchased; and

(4)

the development and the supply and demand situation of the auto industry and market.

Article 11

The lender shall establish a credit record on each borrower which shall contain:

(1)

the name, address, valid ID certificate and effective contact details of the borrower;

(2)

the certificate certifying the income level and the credit of the borrower;

(3)

the auto purchase agreement, and the type, engine number, frame number, price and purpose of the auto;

(4)

the amount, term and method of payment of, the interest rate on and guarantee for the loan;

(5)

records of urging the payment; and

(6)

other materials as may be necessary for credit risk prevention.

Article 12

In the case of a loan to individuals granted for the purchase of a business auto, the borrower’s credit record shall, besides the
items provided in Article 11 herein, contain the annual reviews on the operation license, depreciation and insurance of the business
auto.

Chapter III Auto Loans to Dealers

Article 13

The term “auto loan to a dealer” as mentioned in the present Measures refers to the loan granted by a lender to an auto dealer for
the purchase of autos and/or auto parts and components.

Article 14

When applying for an auto loan, the auto dealer must meet the following requirements:

(1)

having an enterprise juridical person business license and annual review certificate checked up and issued by the administrative department
for industry and commerce;

(2)

having an auto sale agent certificate issued by the auto manufacturer;

(3)

not exceeding 80% of the balance sheet ratio;

(4)

having stable and legitimate income or lawful assets sufficient to pay off the principal and interests of the loan;

(5)

there being no major acts of non-compliance or no records of bad credit on the part of either the dealer, its senior officials or
its customers of whom the dealer handles the application for the loan on behalf; and

(6)

other requirement as may be specified by the lender.

Article 15

The lender shall establish and promptly update the separate credit record on each dealer borrower, which shall contain:

(1)

the post_title, legal representative and business place of the dealer;

(2)

copies of business licenses and certificates;

(3)

the conditions concerning the insurances bought by the dealer and the commercial credit and finance it;

(4)

its loan card (number) issued by the People’ Bank of China;

(5)

the type, price and purpose of the purchased auto, auto parts and components;

(6)

the loan guarantee; and

(7)

other materials as may be necessary for credit risk prevention.

Article 16

The amount of a loan granted by a lender to an auto dealer for the purchase of autos and/or auto parts and components shall be determined
on the basis of the average inventory of the dealer in a certain period which shall be determined in the light of the turnover condition
of the dealer’s inventory.

Article 17

The lender shall regularly inspect the dealer’s credit by regularly checking the dealer’s inventory of autos and auto parts and components
and analyzing the dealer’s financing statements, and adjust the dealer’s credit grade and the inventory-checking frequency in the
light of the result of such inspection.

Chapter IV Auto Loans to Institutions

Article 18

The term “auto loan to an institution” as mentioned in the present Measures refers to the loan granted by a lender to a juridical
person and other entity (hereinafter referred to as an “institution borrower”) who is not an auto dealer for such institution’s purchase
of autos.

Article 19

When applying for an auto loan, the institution must meet the following requirements:

(1)

having an enterprise juridical person business license or an institution juridical person certificate or any other legal certificate,
as issued by the authorities in charge of enterprise or institution registration, certifying the qualification of the borrower to
be a juridical person:

(2)

having legitimate and stable income or lawful assets sufficient to pay off the principal and interests of the loan;

(3)

being able to make the down payment as provided herein;

(4)

there being no major acts of non-compliance and no records of bad credit; and

(5)

other requirements as may be specified by the lender.

Article 20

The lender shall establish a separate credit record on each institution borrower pursuant to the provisions of Article 15 herein
and strengthen the tracking monitoring on credit risk.

Article 21

In the case of a business auto loan granted to an institution engaging in auto leasehold operation, the lender shall supervise the
assessment manner of residual value by the borrower and prevent the risk to the lender caused by over-valuation of the residual value.

Chapter V Risk Management

Article 22

The amount of an auto loan granted by the lender for purchase of a personal auto may not exceed 80% of the price of the auto purchased
by the borrower; that for purchase of a business auto may not exceed 70% of the auto purchased by the borrower; that for purchase
of a second-hand auto may not exceed 50% of the auto purchased by the borrower.

The price of an auto referred to as in the preceding paragraph means, in the case of a new auto, the actual transacted price of the
auto (excluding various surtaxes, charges and insurance premiums) or the price published by the auto manufacturer, whichever is lower;
in the case of a second-hand auto, the actual transacted price of the auto (excluding various surtaxes, charges and insurance premiums)
or the price estimated by the lender, whichever is lower.

Article 23

The lender shall set up a borrowers’ credit rating system and determine each borrower’s credit grade with great caution. The credit
grade of an individual borrower shall be determined on the basis of his occupation, income level, ability to pay, records of credit
and etc.; the credit grade of a dealer or institution borrower shall be determined on the basis of their credit record, their senior
officials’ credit qualities, financial positions and records of credit.

Article 24

When granting an auto loan, the lender shall require the borrower to provide mortgage for the auto purchased or to provide other effective
guarantee.

Article 25

The lender shall either directly accept applications for auto loans or entrust such acceptance to a designated dealer, perfect the
system for separation of credit examination and granting, and strengthen the examination before granting and the tracking and payment-demanding
after granting.

Article 26

The lender shall set up an information database on the second-hand auto market and a residual value assessment system of second-hand
autos.

Article 27

The lender shall establish an auto loan classification monitoring system in the light of loan amounts, distributing areas of the loans,
borrowers’ financial positions, auto brands, mortgages and guarantees, make regular inspection and assessment on risks of different
types of auto loans and promptly adjust the risk grades of different types of auto loans according to the results of such inspection
and assessment.

Article 28

The lender shall establish a warning and monitoring system on auto loans, and formulate warning standards and, in the case of any
dissatisfaction of these standards, adopt measures such as reappraisal of the credit examination and approval system.

Article 29

The lender shall establish a classification disposal system on bad loans and a loss provision system on deliberate loans and make
corresponding loan loss provisions.

Article 30

When granting a mortgage loan, the lender shall assess the value of the mortgage with great caution, pay full attention to possible
depreciation of the mortgage and fix the upper limit for the mortgage rate.

Article 31

The lender shall promptly incorporate the information on auto loans into its credit registration and consulting system and establish
a system for information exchange with other lenders.

Chapter VI Supplementary Provisions

Article 32

Where any lender violates any provision of the present Measures when conducting auto loan business, China Banking Regulatory Commission
and its agencies detached have the right to impose punishment on the lender and persons concerned according to the provisions of
the Law of the People’s Republic of China on Banking Regulation and Supervision and other relevant provisions. The People’s Bank
of China and its branches may make suggestions to China Banking Regulatory Commission and its agencies that they conduct supervision
and inspection over irregular acts of lenders engaging in auto loan business.

Article 33

Loans granted by the lender for purchase of engineering vehicles, such as bulldozers, excavators, mixers and pumps, shall be handled
by applying these Measures mutatis mutandis.

Article 34

The power to interpret the present Measures shall be remain with the People’s Bank of China and China Banking Regulatory Commission.

Article 35

The present Measures shall come into force as of October 1, 2004. The Measures for Management of Loans for Auto Consumption as issued
by the People’s Bank of China in 1998 shall be annulled as of the same date.

the People’s Bank of China, China Banking Regulatory Commission
2004-08-16

LAW OF THE PEOPLE’S REPUBLIC OF CHINA ON ELECTRONIC SIGNATURE

The Standing Committee of the National People’s Congress

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

No.18

The Law of the People’s Republic of China on Electronic Signature, adopted at the 11th meeting of the Standing Committee of the Tenth
National People’s Congress of the People’s Republic of China on August 28, 2004, is hereby promulgated, and shall go into effect
as of April 1, 2005.

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

August 28, 2004

Law of the People’s Republic of China on Electronic Signature ContentsChapter I General Provisions

Chapter II Data Message

Chapter III Electronic Signature and Certification

Chapter IV Legal Liabilities

Chapter V Supplementary Provisions

Chapter I General Provisions

Article 1

The present Law is constituted in order to regulate the act of electronic signature, establish the legal effect of electronic signature,
and maintain the lawful rights and interests of the relevant parties concerned.

Article 2

For the purpose of this Law, the term of “Electronic Signature” refers to the data included and attached in data message in electronic
form used to identify the identity of the signatory and show that the signatory has recognized the contents therein.

For purpose of this Law, the term of “Data Message” refers to the information created, sent, received or stored by means such as electron,
optics, magnetism or similar means.

Article 3

The interested parties may stipulate to use or not to use electronic signature or data message in the contract or other documents
and documentations in civil activities.

The force adeffect of any document using electronic signature and data message as stipulated by the interested parties shall not be
denied only because the document takes the form of electronic signature and data message.

The aforesaid provisions shall not be applied to the following documents:

Documents concerning personal relations such as marriage, adoption, inheritance and etc.;

Documents concerning the transfer of such real estate rights and interests as land, house and etc.;

Documents concerning stopping the service of public utility such as water supply, heat supply, gas supply, power supply and etc.;

Other circumstances under which the electronic documents are inapplicable as prescribed by laws and administrative regulations.

Chapter II Data Message

Article 4

Any data message, which can represent the contents it specifies in material form and may be picked up for reference and use at any
time, shall be regarded as congruous written forms prescribed by laws and regulations.

Article 5

Any data message meeting the following requirements shall be regarded as satisfying the requirements for the form of the original
as prescribed by laws and regulations:

Data message that is capable of effectively representing the contents it specifies and may be picked up for reference and use at any
time; and

Data message that can reliably ensure that the contents are complete and unaltered from the time when it finally comes into being.
But the integrality of the data message will not be influenced by adding endorsement in the data message and the transformation of
forms occurred during the course of data interchange, storage and display.

Article 6

Any data message meeting the following requirements shall be regarded as satisfying the requirements for document preservation as
prescribed by laws and regulations:

Being capable of effectively representing the contents it specifies and may be picked up for reference and use at any time;

The format of the data message is the same as that when it is created, sent or received, or the format is different but is able to
accurately represent the contents of original creation, sending, or receiving;

Being capable of identifying the addresser and addressee of the data message and the time for sending and receiving it.

Article 7

Any data message may not be refused for being used as evidence only because it is created, sent, received or stored by ways of electron,
optics, magnetism, or the similar means.

Article 8

When making examination on the authenticity of any data message as evidence, the following factors shall be taken into consideration:

The reliability of the methods for creation, storage or transmission of data message;

The reliability of the methods for keeping the integrality of the contents;

The reliability of the methods for identifying the addresser; and

Other relevant factors.

Article 9

Under any of the following circumstances, the data message shall be regarded as being sent by the addresser:

Being sent with the authorization of the addresser;

Being sent automatically by the information system of the addresser; or

The consequence is proved congruous after the validation on the data message by the addressee according to the method approved by
the addresser.

Unless there are different stipulations by the interested parties on the matters prescribed in the preceding paragraph, the stipulations
shall be followed.

Article 10

In case that the receiving of any data message needs to be confirmed as prescribed by laws and administrative regulations or the stipulations
of the interested parties, the receiving shall be confirmed. If an addresser has received any confirmation on the receiving from
the addressee, the data message shall be regarded as having been received.

Article 11

The time when any data message enters into a certain information system beyond the control of the addresser shall be regarded as the
time for sending the data message.

Where an addressee has appointed a given system to receive any data message, the time when the data message enters into the given
system shall be regarded as the time for receiving the data message. Where no given system is appointed, the time when the data message
enters into any system of the addressee for the first time shall be regarded as the time for receiving the data message.

In case the interested parties have different stipulations on the time for sending and receiving data message, the stipulations shall
be followed.

Article 12

The main business place of the addresser shall be regarded as the place for sending data message, and the main business place of the
addressee shall be regarded as the place for receiving data message. If there is no main business place, the habitual residence shall
be regarded as the sending or receiving place.

In case the interested parties have different stipulations on the place for sending or receiving data message, the stipulations shall
be followed.

Chapter III Electronic Signature and Certification

Article 13

Any electronic signature, simultaneously according with the following circumstances, shall be regarded as a reliable electronic signature:

Where any data made by electronic signature is used for electronic signature, and it is owned exclusively by the electronic signatory;

The data made by electronic signature is controlled only by the electronic signatory when signing;

Any alteration on electronic signature after signing can be found out; and

Any alteration on the content and the form of any data message after signing can be found out.

The parties may also choose to use the electronic signature stipulated by themselves of reliable conditions.

Article 14

Reliable electronic signatures shall have the same force adeffect as the hand signatures or seals.

Article 15

The electronic signatory shall well keep the data made by electronic signature. In case that an electronic signatory realizes that
the data made by electronic signature has given away official secrets or may give away official secrets, he shall notify relevant
parties in time and terminate the use of the data made by electronic signature.

Article 16

Where it is necessary for an electronic signature to be certified by a third party, the certification service shall be provided by
a legally established electronic certification service provider.

Article 17

The following conditions shall be met when providing electronic certification service:

Having professional technicians and managers suited for providing electronic certification service;

Having capital and business places meeting the requirements for providing electronic certification service;

Having techniques and equipments up to the standard of the national safety;

Having certification documents on using codes approved by the state code administration organs;

Other conditions prescribed by laws and administrative regulations.

Article 18

The applicant, who is to provide electronic certification service, shall bring forward an application to the competent department
of information industry of the State Council, and submit relevant materials prescribed in Article 17 of the present Law. The competent
department of information industry of the State Council shall make examination according to law after receiving the application,
and make a decision on whether to give permission or not within 45 days from the date when the application is accepted after soliciting
the opinions of the competent commerce department of the State Council and other relevant departments. If the permission is granted,
an electronic certification exequatur shall be issued. Or else the applicant shall be notified in writing form and the reasons shall
be explained.

The applicant shall, with the electronic certification licensing certificate, go to the administrative department for industry and
commerce to go through formalities for enterprise registration according to law.

Any electronic certification service providers who have obtained the qualification of certification shall publicize their names and
numbers of licenses and other information in the internet in accordance with the provisions of the competent department of information
industry of the State Council.

Article 19

The electronic certification service provider shall formulate and promulgate the electronic certification business rules according
with the relevant provisions of the state, and put them on records at the competent department of information industry of the State
Council.

The electronic certification business rules shall include the scope of liabilities, the criterions of work operation, the information
safeguard measures, and other matters concerned.

Article 20

When any electronic signatory applies for electronic signature certification certificate to any electronic certification service provider,
he shall provide true, complete and accurate information.

After receiving any application for electronic signature certification certificates, the electronic certification service provider
shall check the identity of the applicant and make examination on the relevant materials.

Article 21

Any electronic signature certification certificate signed by electronic certification service providers shall be accurate and inerrant,
and shall specify the following contents:

Name of the electronic certification service provider;

Name of the certificate holder;

Serial number of the certificate;

Period of validity of the certificate;

Electronic signature validation data of the certificate holder;

Electronic signature of the electronic certification service provider; and

Other contents prescribed by the competent department of information industry of the State Council.

Article 22

The electronic certification service provider shall ensure that the contents of the electronic signature certification certificates
are complete and accurate within the period of validity, and ensure that the parties depending on the electronic signature are able
to prove or know the contents specified in the electronic certification certificate and other relevant matters concerned.

Article 23

Where any electronic certification service provider intends to suspend or terminate the electronic certification service, it shall
notify relevant parties concerned of the carrying-on of the operation and other relevant matters 90 days before the suspension or
termination of the service.

Where any electronic certification service provider intends to suspend or terminate the electronic certification service, it shall
report to the competent department of information industry of the State Council 60 days before the suspension or termination of the
service, and negotiates with other electronic certification service providers about the carrying-on of the operation, so as to make
proper arrangements.

Where any electronic certification service provider fails to reach an agreement on the carrying-on of the operation with other electronic
certification service providers, it shall apply to the competent department of information industry of the State Council for arranging
other electronic certification service providers to carry on its operation.

Where any electronic certification service provider is revoked of the electronic certification licensing certificate, the matters
of carrying on its operation shall be handled according to the provisions of the competent department of information industry of
the State Council.

Article 24

The electronic certification service providers shall well keep the information related to certification. The time limit for keeping
the information shall be at least 5 years after the invalidation of the electronic signature certification certificates.

Article 25

The competent department of information industry of the State Council shall formulate concrete measures for the administration of
electronic certification service industry in accordance with the present Law and conduct supervision over electronic certification
service providers according to law.

Article 26

Upon the approval of the competent department of information industry of the State Council, and in light of the relevant agreement
or the principle of reciprocity, any electronic signature certification certificate issued overseas by any electronic certification
service provider outside the territory of the People’s Republic of China shall have the same force adeffect as the electronic certification
certificates issued by the electronic certification service providers established according to the present Law.

Chapter IV Legal Liabilities

Article 27

The electronic certification service provides shall undertake compensation liabilities, in case that he knows that data made by electronic
signature has given away official secrets or may have given away official secrets but fails to notify the relevant interested parties
concerned and terminate the use of the data made by electronic signature, or fails to provide truthful, complete and accurate information
to the electronic service providers, or has any other faults resulting in the damage to the party depending on electronic signature
.

Article 28

The electronic certification service provider shall undertake compensation liabilities, if any electronic signatory or any party depending
on electronic signature suffers losses due to engaging in civil activities based on the electronic signature certification service
provided by the electronic certification service provider and he cannot prove that he has no faults.

Article 29

Where anyone provides electronic certification service without approval, the competent department of information industry of the State
Council shall order it to stop the illegal act; where there are illegal gains, they shall be confiscated; and if the illegal gains
are more than RMB 300 thousand Yuan, it shall be given a fine of one time to three times of the illegal gains; if there are no illegal
gains or the illegal gains are less than RMB 300 thousand Yuan, it shall be given a fine of RMB 100 thousand Yuan to RMB 300 thousand
Yuan.

Article 30

Where any electronic certification service provider suspends or terminates the electronic certification service, but fails to report
to the competent department of information industry of the State Council within 60 days before the suspension or termination of the
service, the competent department of information industry of the State Council shall penalize the person directly in charge with
a fine of RMB 10 thousand Yuan up to RMB 50 thousand.

Article 31

Where any electronic certification service provider does not comply with the certification operation rules, fails to well keep the
information related to the certification, or has any other illegal acts, the competent department of information industry of the
State Council may charge it to correct within a prescribed time limit; if the electronic certification service provider fails to
correct within the time limit, its electronic certification licensing certificate shall be revoked and the person directly in charge
and other persons directly liable shall be banned from undertaking electronic certification service within 10 years; and if the electronic
certification licensing certificate is revoked, a public notice on this shall be made, and the administrative administrations for
industry and commerce shall be notified.

Article 32

Where anyone forges, falsely uses or embezzles electronic signature of others and commits a crime, he shall be subject to criminal
liability according to law. Where that causes damage to others, he shall undertake civil liabilities.

Article 33

Where any staff member of the department in charge of the work for the supervision over electronic certification service, according
to the present Law, fails to perform duties of administration approval and supervision, he shall be given an administrative punishment
according to law. Where a crime is constituted, he shall be subject to criminal liabilities.

Chapter V Supplementary Provisions

Article 34

The words used in the present Law shall have meanings as follows:

The “Electronic Signatory” shall refer to the person who holds data made by electronic signature and implements electronic signature
in his own identity or on behalf of the person he represents;

The “Party Depending on Electronic Signature” shall refer to the person who engages in relevant activities based on his trust in any
electronic signature certification certificate or electronic signature;

The “Electronic Signature Certification Certificate” shall refer to the data message or other electronic records that can prove that
any electronic signatory has some relations with the data made by electronic signature;

The “Data Made by Electronic Signature” shall refer to such data as characters, coding and etc., which are used in the course of electronic
signature and can reliably connect electronic signature with electronic signatory; and

The “Electronic Signature Validation Data” shall refer to the data used to validate electronic signature, including codes, passwords,
arithmetic or public keys and etc..

Article 35

The State Council or the departments prescribed by the State Council may, in accordance with the present Law, formulate concrete measures
for the use of electronic signature and data message in government affairs and other social activities.

Article 36

The present Law shall go into effect as of April 1, 2005.

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

REGULATIONS OF THE ORIGIN OF IMPORTED – EXPORTED GOODS OF PRC

State Council

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

No. 416

Regulations of the Origin of Imported – Exported Goods of PRC were adopted by 61st Standing Conference of the State Council on August
18, 2004. The said Regulations are hereby promulgated and come into effect as of January 1, 2005.

Wen Jiabao, Premier of the State Council

September 3, 2004

Regulations of the Origin of Imported – Exported Goods of PRC

Article 1

The Regulations are formulated for the purposes of determining correctly the origin of imported – exported goods, implementing all
kinds of trade measures and promoting the development of foreign trade.

Article 2

The said Regulations apply to non-preferential trade measures, such as implementing most-favoured-nation treatment, anti-dumping and
anti-subsidy, safeguarding measures, management of origin mark, limit on countries and tariff quota, and determining the origin of
imported – exported goods by government purchasing and trade statistics.

The said Regulations do not apply to the determination of origin of imported and exported goods in implementing preferential trade
measures. The concrete measures will be formulated later in accordance with the international treaties and agreements the People’s
Republic of China has concluded or taken part in.

Article 3

If the goods are purchased in only one country (region), this country (region) is determined as the origin. If the goods are produced
in more than two countries (regions), the country (region) that makes final substantive changes is determined as the origin.

Article 4

The goods obtained in only one country referred to in Article 3 of these Regulations mean:

The animals born and raised in the country (region);

The animals captured, fished and collected in the field of the country (region);

Unprocessed goods of live animals obtained in the country (region);

Plants and the products of plants harvested in the country (region);

The minerals excavated in the country (region);

Other natural goods obtained in the country (region) except for the goods mentioned in item 1 to 5 of this Article;

The waste and scrap materials produced by production that have to be thrown aside or collected as materials in the country (region);

The goods collected in the country (region) that can’t be restored or repaired, or the parts or materials recycled from the goods;

Aquatic animals and other goods obtained by the ships with the flag of the country legally in the sea area outside its territorial
waters;

10.

The products obtained from processing the goods listed in item 9 of this Article in the processing ship which flies a flag of the
country legally;

11.

The goods obtained from the seabed or subsoil of seabed outside the territory sea where the country has special rights of excavation;

12.

The products produced from the goods listed in item 1 to 11 of this Article in the country (region).

Article 5

When the goods are determined whether they are obtained in only one country (region), following little processing or treatment is
not considered:

Processing or treatment for transportation or storage;

Processing or treatment for being convenient for loading and unloading;

Processing or treatment for selling goods, such as packing and etc.

Article 6

The standard of determining substantive change specified in Article 3 of the Regulations takes the change of tariff classification
as basic criterion. If the change of tariff classification does not show substantive change, it takes ad valorem percentage, production
or processing procedures as replenished standard. The concrete standard is formulated later by General Administration of Customs
of the People’s Republic of China together with Ministry of Commerce and General Administration of Quality Supervision, Inspection
and Quarantine.

The change of tariff classification referred to in Item 1 of this Article means some changes have taken place in some classification
of tax category of obtained goods in Import and Export Tariff of the People’s Republic of China after the original materials of other
country (region) are manufactured or processed in a certain country (region).

Ad valorem percentage referred to in item 1 of this Article means certain percentage of value-added part exceeds the value of obtained
goods after the original materials of other country (region) are manufactured or processed in a certain country (region)

Manufacture or processing procedures referred to in item 1 of this Article means the main procedures of basic characteristics of goods
obtained after manufacture or processing in a certain country (region).

Before Rules of Coordinating Non-preferential Origin are implemented, the concrete standard of determining substantive changes of
origin of imported and exported goods will be formulated later in accordance with actual conditions by General Administration of
Customs of the People’s Republic of China together with the Ministry of Commerce and General Administration of Quality Supervision,
Inspection and Quarantine.

Article 7

The origin of sources of energy, factory buildings, equipments, machines and tools being used during goods production, and the origin
of materials that does not comprise material ingredients or parts of goods do not interfere the determination of the origin of the
goods.

Article 8

If the packing, packing materials and containers imported and exported with the goods are classified together with the goods in Import
and Export Tariffs of the People’s Republic of China, the origin of packing, packing materials and containers do not affect the determination
of the origin of the goods in them. The origin of the packing, packing materials and containers are not determined exclusively. The
origin of the goods in them is deemed the origin of the packing, packing materials and containers.

If the packing, packing materials and containers imported and exported with the goods in them are not classified together with the
goods in Import and Export Tariff of the People’s Republic of China, the origin of the packing, packing materials and containers
is determined in accordance with the said Regulations.

Article 9

If the accessories, spare parts, tools and guidebooks imported and exported with the goods in accordance with varieties and quantities
allocated normally are classified together with the goods in Import and Export Tariffs of the People’s Republic of China, the accessories,
the origin of spare parts, tools and guidebooks do not infect the determination of the origin of the goods. The origin of the accessories,
spare parts, tools and guidebooks will not be determined exclusively and the origin of the goods is deemed the origin of the accessories,
spare parts, tools and guidebooks.

If the accessories, spare parts, tools and guidebooks imported and exported with the goods are classified together with the goods
in Import and Export Tariffs of the People’s Republic of China, but they exceed the varieties and quantity allocated normally, or
they are not classified together with the goods in Import and Export Tariffs of the People’s Republic of China, the origin of the
accessories, spare parts, tools and guidebooks should be determined in accordance the provisions of these Regulations.

Article 10

If the goods are processed or treated for avoiding the provisions of anti-dumping, anti-subsidy and safeguard measures, the customs
may not consider the processing and treatment while determining the origin of the goods.

Article 11

The consignees of the imported goods should declare exactly the origin of the imported goods in accordance with the standard of determining
the origin specified in the said Regulations when they go through the declaration formalities in the customs in accordance with the
Customs Law of the People’s Republic of China and related provisions. If the origin of the same lot of goods is different, the origin
should be declared separately.

Article 12

Before the import of the imported goods, if the consignees of the imported goods or other persons related to the imported goods have
proper reasons, they may make a written application to the customs for pre-determination of the origin of the goods being imported.
The applicants should submit the materials required by the determination of the origin to the customs in accordance with the provisions.

The customs should make pre-determination to the origin of the imported goods and promulgate it in accordance with the provisions
of the said Regulations within 150 days as of the date of receipt of the application for pre-determination of the origin and all
necessary materials.

Article 13

The customs should examine and determine the origin of the imported goods after accepting the application.

As for the goods that the origin has been pre-determined, when they are actually imported within 3 years as of the date of making
a pre-determination, if the actual imported goods conform to the goods described by pre-determination after the customs’ examination
and no change has taken place in the standard of determining the origin specified by the Regulations, the customs will not re-determinate
the origin of the imported goods. If the actual imported goods do not conform to the goods of pre-determination after the examination
of the customs, the custom should re-examine and determine the origin of the imported goods in accordance with the provisions of
the Regulations.

Article 14

While examining and determining the origin of the imported goods, the customs may ask the consignees of the imported goods to submit
the origin certificate of the imported goods and examine it. If necessary, the customs may request related organs of goods exporting
country to examine the origin of the goods.

Article 15

In response to the written application of foreign trade dealers, the customs may make the administrative arbitration in advance of
determining the origin of the goods being imported and publish it in accordance with Article 43 of the Customs Law of the Peoples’
Republic of China.

The same administrative arbitration should apply to the import of same goods.

Article 16

The state implements the management of the origin mark. If the goods or their packing have origin mark, the origin described by the
origin mark should be as the same as the origin determined in accordance with the said Regulations.

Article 17

The consignors of the exported goods may apply for obtaining origin certificate of the exported goods to General Administration of
Quality Supervision, Inspection and Quarantine, China Council for Promoting International Trade and its sub-councils (hereinafter
referred to as “certification organs”.

Article 18

If the consignors of the exported goods apply for obtaining the origin certificate of the exported goods, they should go through the
formalities of registration, declare the origin of exported goods correctly in accordance with the provisions and provide the materials
for issuing the origin certificate of the exported goods to the certification organs.

Article 19

After accepting the application of the consignors of exported goods, the certification organs should examine and determine the origin
of the exported goods in accordance with the provisions, issue the origin certificate of the exported goods. If the exported goods
are not produced in the territory of the People’s Republic of China, certificate organs should refuse to issue the origin certificate
of the exported goods.

The concrete measures on issuing the origin certificate of the exported goods will be formulated later by General Administration of
Quality Supervision, Inspection and Quarantine together with other related departments and organs of the State Council.

Article 20

In response to the request of related organs of the goods importing country (region), the customs and certificate organs may examine
the origin of the exported goods and send the feedback to related organs of the importing country (region) in time.

Article 21

The materials and information that are used to determine the origin of the goods may be provided in accordance with related provisions
or with the permission of the units or individuals who provided the materials and information. The customs and certification organs
should keep secret about the materials and information.

Article 22

If any one who acts contrary to the provisions of the said Regulations should be punished in accordance with the provisions of Foreign
Trade Law, Customs Law and Implementation Regulations of Administrative Punishment of the Customs of the People’s Republic of China.

Article 23

Any one who obtains origin certificate by cheating with false materials, or falsifies, sells, buys or steals the origin certificate
will be punished by imposing a fine of more than 5 thousand yuan or less than 10 thousand yuan by the customs. Any one who obtains
the origin certificate by cheating, or falsifies, sells, buys or steals the certificate as the origin certificate that the customs
grants clearance should be imposed a fine below the equivalence of the amount of the goods. If the amount of the goods is below 5
thousand yuan, a fine of 5 thousand yuan should be imposed. If any one has illegal earnings, the illegal earnings should be seized
by import-export inspection and quarantine organs and the customs. Anyone who commits a crime should be ascertained criminal responsibility
in accordance with laws.

Article 24

If the origin mark of the imported goods does not conform to the origin determined in accordance with the Regulations, the customs
will instruct to correct it.

If the origin of the exported goods does not conform to the origin determined in accordance with the Regulations, the customs and
import-export inspection and quarantine organs will instruct to correct it.

Article 25

If any staffs responsible for determining origin of imported or exported goods act contrary to the procedures of the Regulations to
determine the origin, or leak commercial secret, or abuse their power, dereliction of duty, embezzlement and malpractices, they should
be ascertained administrative sanction. If any one obtains illegal earnings, the illegal earnings should be seized. If any one commits
a crime, he should be ascertained criminal responsibility.

Article 26

The meaning of following terms in the said Regulations:

“Obtaining” means capturing, fishing, collecting, harvesting, excavating, processing or production.

“Origin of the goods” means the country (region) that obtains a certain good determined in accordance with the Regulations.

“Certificate of origin” means written document issued by the exported country (region) in accordance with the rules of origin and
related requirements. It describes clearly in which country (region) the listed goods are produced.

“Origin mark” means the words and graph on the goods or on the packing, which is used to indicate the origin of the goods.

Article 27

The said Regulations come into effect as of January 1, 2005. Rules of Origin of Exported Goods of the People’s Republic of China promulgated
by the State Council on March 8, 1992 and Temporary Rules of Origin of Imported Goods of the Customs of the People’s Republic of
China promulgated by General Administration of the Customs on December 6, 1986 are abolished at the same time.

State Council
2004-09-03

PROVISIONS ON THE ADMINISTRATION OF EXAMINATION OF TV PLAYS

the State Administration of Radio, Film and Television

Order of the State Administration of Radio, Film and Television

No. 40

The Provisions on the Administration of Examination of TV Plays, which were adopted at the executive meeting of this Administration
on July 24, 2004, are hereby promulgated and shall come into force as of October 20, 2004.

Director of the State Administration of Radio, Film and Television, Xu Guangchun

September 20, 2004

Provisions on the Administration of Examination of TV Plays

Chapter I General Provisions

Article 1

With a view to regulating the examination of TV plays, ensuring that the TV plays give correct guidance, prospering the creation of
TV plays and promoting sound development of the industry of TV plays, the present Provisions are formulated according to the Ordinance
on the Administration of Radio and Television.

Article 2

The present Provisions shall be applicable to the following activities:

(1)

examining the initiative of plans on the subjects of TV plays (including TV cartoons) to be produced domestically, and the finished
TV plays (TV cartoons);

(2)

examining the plans on the subjects of the TV plays (including TV cartoons) to be produced by cooperating with foreign institutions,
or institutions from Hong Kong, Macao or Taiwan.

(3)

examining the TV plays (including TV cartoons, feature films, hereinafter referred to as imported TV plays) imported for being broadcasted
by TV stations; and

(4)

examining the feature films to be broadcasted by TV media.

Article 3

The State Administration of Radio, Film and Television (hereinafter referred to as the SARFT) shall be responsible for the administration
of TV plays of the whole country.

The provincial radio and television administrative departments shall be responsible for the administration of TV plays within their
respective jurisdictional areas.

Article 4

The state shall adopt the examination system on the initiative of the plans on subjects of TV plays and the licensing system on the
issuance of TV plays.

In the case of any TV play without the plan on its subject initiated, no one may produce it.

No one may distribute, broadcast, import or export any TV play without the TV Play Issuance License. Renting, leasing, selling, transferring
or transferring in a disguised form various licenses for TV plays is prohibited.

Article 5

The state encourages the well-produced TV plays with deep thought and brilliant art, which are popular with the mass.

Chapter II Initiative of Plans on the Subjects of TV Plays (Including TV Cartoons)

Article 6

The SARFT shall be responsible for the final examination on the initiative of plans on the subjects of TV plays of the whole country.

The provincial radio and TV administrative departments shall be responsible for the preliminary examination on the initiative of plans
on the subjects of TV plays within their respective jurisdictional areas.

As to the initiative of plans on the subjects of TV plays of the TV play production institutions subordinate to the entities directly
under the Central Government, after being given opinions by the superior administrative department, they shall be reported to the
SARFT for examination and approval.

Article 7

When applying for the initiative of plan on the subject of a TV play, the applicant shall meet one of the following conditions at
least:

(1)

holding a TV Play Production License (Class A);

(2)

holding a Radio and TV Program Production and Business Operation License;

(3)

It is a TV station at the prefecture (city) level or above; or

(4)

It is a film production institution with a Film Production License.

Article 8

When applying for the initiative of plan on the subject of a TV play, the applicant shall submit the following materials:

(1)

an Application Form for the Initiative of Plan on the Subject of a TV Play or an Application Form for the Initiative of Plan on the
Subject of a TV Cartoon;

(2)

a brief introduction (not less than 1500 Chinese characters) describing the main theme, major heroes and heroines, background and
stories of the TV play.

(3)

If the TV play involves any important political, military, diplomatic, front united, national or religious content, or any case, any
big name, the applicant shall provide the written certification materials such as the opinions issued by the corresponding competent
department and other related materials.

Article 9

The SARFT shall quarterly accept the applications for initiative of plans on the subjects of TV plays in each year, and the declared
period shall be from the first day to the fifteenth day of the first month of each quarter.

The SARFT shall accept the applications for initiative of plans on the subjects of TV cartoons two times each year, and the declared
period shall be January 1 – 15 and July 1 – 15 each year.

In principle, the SARFT shall not accept any application not submitted within the application submission periods. If the SARFT has
to make a change to the declared periods, it shall make an announcement to the general public 60 days before.

The provincial radio and television administrative departments may determine the declared periods for the initiative of plans on the
subjects of TV plays (including TV cartoons) in their respective jurisdictional areas in accordance with this Article, and shall
make an announcement to the general public 60 days before.

Article 10

The TV play production institutions subordinate to the entities directly under the Central Government, which meet the requirements
as listed in Article 7 of the present Provisions, may directly file applications to the SARFT for the initiative of plans on the
subjects of TV plays (including TV cartoons).

Other institutions meeting the requirements as listed in Article 7 of the present Provisions shall file applications to the local
provincial radio and television administrative departments for the initiative of plans on the subjects of TV plays (including TV
cartoons). After the preliminary examination by the provincial radio and television administrative departments, the aforesaid applications
shall be submitted to the SARFT for final examination.

Article 11

The SARFT shall examine the application materials pursuant to laws, and shall make a written decision of approval or disapproval within
50 days, during which the time period for expert appraisal shall be 30 days.

Article 12

An approved initiative of plan on the subject of a TV play subject have a valid period of two years. Where the planned TV play hasn’t
been put into production at the expiry of the valid period, the approved initiative plan shall be invalidated automatically. If it
is necessary to prolong the valid period, a new application shall, according to the present Provisions, be filed 30 days prior to
the expiry of the valid period. If the application for prolonging the valid period is approved, the planned TV play shall be put
into production within a year. If the planned TV play hasn’t been put into production at the expiry of the extended time period,
the approved initiative plan shall be cancelled. The radio and television administrative departments at the province level or above
shall not any longer accept any new application for the initiative of plan on the subject of the same TV play of this applicant.

Article 13

Where it is necessary to change the name, number of episodes or the production institution of the TV play in an approved plan, the
applicant shall report the change to the SARFT for archiving purpose, and shall go through relevant formalities for the change.

Article 14

The information on the progress of the production of the play in an approved plan shall be reported to the radio and television administrative
departments at the province level or above for archiving purpose in the form of dynamic monthly reports.

Chapter III Examination Institutions and Standards

Article 15

The SARFT shall set up a TV Play Examination Committee and a TV Play Re-examination Committee. The provincial radio and television
administrative departments shall each establish a TV play examination institution, which shall be responsible for the examination
of TV plays within their respective jurisdictional areas.

Article 16

The TV Play Examination Committee of the SARFT shall perform the following functions:

(1)

examining the TV plays (including TV cartoons) produced by using the TV Play Production License of production institutions subordinate
to the entities directly under the Central Government, and making examination conclusions;

(2)

examining the TV plays produced domestically by hiring foreigners (including play-writers, directors, actors and actresses, and photographers)
as participants in the production, and making an examination conclusions;

(3)

examining the screenplays of the TV plays produced by cooperation, finished TV plays and imported TV plays, and making examination
conclusions; and

(4)

examining TV plays (including TV cartoons), which has caused debates in the public during TV broadcasting and are reported by the
provincial TV play examination institution to the SARFT for examination, or are reported to the SARFT for examination due to the
needs of public interests, and making examination conclusions.

Article 17

The TV Play Reexamination Committee of the SARFT shall perform the functions of examining the TV plays, which are applied for reexamination
by the institutions as the examinees because they refuse to accept the examination conclusions of the TV Play Examination Committee
of the SARFT or of the provincial TV play examination institutions, and making examination conclusions.

Article 18

The provincial TV play examination institutions shall perform the following functions:

(1)

examining the TV plays (including TV cartoons) domestically produced by the TV play production institutions within their respective
jurisdictional areas without hiring any foreigner as a participant in the production, and making examination conclusions;

(2)

conducting preliminary examination on the TV plays domestically produced by the TV play production institutions within their respective
jurisdictional areas with foreigners as participants in the production, making examination conclusions, and putting forward detailed
and explicit opinions on the preliminary examination;

(3)

conducting preliminary examination on the screenplays of the TV plays cooperatively produced by the TV play production institutions
within their respective jurisdictional areas and overseas institutions and on the finished TV plays, and putting forward detailed
and explicit opinions on the preliminary examination; and

(4)

conducting preliminary examination on the imported TV plays submitted by institutions within their respective jurisdictional areas
for examination, and putting forward detailed and explicit opinions on the preliminary examination.

Article 19

The examination of TV plays shall be conducted, in light of the orientation of serving people and socialism, the guide line of letting
a hundred flowers blossom and a hundred schools of thought contend and the principle of getting close to the reality, life and the
mass, so as to ensure the correct consensus guidance.

Article 20

No TV play containing any of the following contents may pass the examination:

(1)

being against the basic principles determined by the Constitution;

(2)

endangering the unity, sovereignty and territorial integrity of the state;

(3)

divulging the state secrets, endangering state security or damaging the honor and interests of the State;

(4)

instigating hatred or discrimination among ethnic groups, undermining the solidarity among ethnic groups, or disrespecting ethnic
customs or practices;

(5)

advocating evil religions and superstitions;

(6)

disturbing social order and destroying social stability;

(7)

advocating obscenity, gambling or violence, or instigating crimes;

(8)

insulting or defaming others, and infringing upon others’ legitimate rights and interests;

(9)

endangering the social morality or the excellent national culture and tradition; or

(10)

containing other contents that are prohibited by the laws, administrative regulations or provisions of the state.

Chapter IV Examination Procedure

Article 21

The applicant shall file an application to the examination organ for the examination of a domestically produced TV play (including
a TV cartoon), and shall submit the following materials in addition:

(1)

an Application Form for the Examination of a Domestically Produced TV Play or an Application Form for the Examination of a Domestically
Produced TV Cartoon;

(2)

the valid certification for the qualification of the production institution;

(3)

a photocopy of the document approving the initiative of plan on the subject of a TV play;

(4)

a photocopy of the document approving the employment of foreigners as participants in the production of the domestic TV play;

(5)

an abstract for each episode with 500 Chinese characters at least;

(6)

a complete set of L1/2 video tapes, whose pictures, sound and time code meet the examination requirements; and

(7)

a complete caption table for the beginning, end and songs of the TV play.

Article 22

The cooperatively produced TV plays shall be managed according to the relevant provisions of the SARFT on the management of TV plays
produced through Sino-foreign cooperation.

Article 23

The imported TV plays shall be managed according to the relevant provisions of the SARFT on the management of the import and broadcasting
of overseas TV programs.

Article 24

The TV play examination institution shall, after receiving a complete set of examination application materials, make a decision of
approval or disapproval of administrative licensing within 50 days, during which the expert appraisal may take 30 days. Where a TV
play passes the examination, the radio and television administrative department at the province level or above shall issue a TV Play
(TV Cartoon) Insurance License to the applicant. If it is necessary to make modifications upon examination, the radio and television
administrative department at the province level or above shall put forward opinions on the modifications. And the institution as
the examinee may reapply for examination after finishing the modifications in accordance with the present Provisions. If it fails
to pass the examination, the radio and television administrative department at the province level or above shall make a written decision
of disapproval and shall give an explanation.

The TV Play (TV Cartoon) Insurance Licenses shall be uniformly printed and produced by the SARFT.

Article 25

Where an institution as the examinee refuses to accept the decision of disapproval of administrative licensing, it may apply to the
TV Play Re-examination Committee of the SARFT for re-examination within 60 days from receiving the decision. The TV Play Re-examination
Committee of the SARFT shall make a re-examination decision within 50 days, during which the expert appraisal may take 30 days, and
shall give a written notice to the institution as the examinee. If the TV play or TV cartoon passes the re-examination, the SARFT
shall issue to it a TV Play (TV Cartoon) Insurance License.

Article 26

No one may randomly change a TV play, which has obtained a TV Play (TV Cartoon) Insurance License. If it is necessary to change the
name, major characters, main stories and the length of the episodes of the TV play, this TV play shall be applied for re-examination
according to the present Provisions.

Article 27

The domestically produced TV plays involving any significant revolutionary or historical event shall be subject to examination in
accordance with the relevant provisions.

Article 28

The provincial radio and television administrative departments shall, in the first week of each month, submit a report on the distribution
of TV Play (TV Cartoon) Insurance Licenses in the previous month to the SARFT for archiving purpose.

Article 29

The information on the countrywide distribution of TV Play (TV Cartoon) Insurance Licenses shall be announced by the SARFT to the
general public.

Article 30

The TV play production institution may issue or entrust other institutions to issue a TV play or TV cartoon, of which it has obtained
the copyright and a TV Play (TV Cartoon) Insurance License.

Article 31

The TV station shall accord with the relevant laws, regulations and rules when broadcasting a TV play. It shall keep to the pre-broadcasting
examination and re-broadcasting re-examination system, and shall give a clear indication of the corresponding serial number of the
distribution license in the beginning of each episode of the TV play, and shall give a clear indication of the corresponding serial
number of the production license at the head of each episode of the TV play. It may not omit the name of the production institution
and the names of key persons involved in the production of the TV play.

Article 32

For reasons of public interests, the SARFT may decide to charge the parties concerned to modify, or to stop the distribution, import,
export or broadcasting of a TV play or TV cartoon with TV Play (TV Cartoon) Insurance License.

Chapter V Penalty Provisions

Article 33

Where anyone violates the present Provisions, he shall be punished according to the Regulations on the Administration of Radio and
Television. If the circumstance is serious and any crime is constituted, it (he) shall be subject to criminal liabilities.

Article 34

Where any radio and television administrative department or any of its functionaries abuses its (his) powers, neglects its (his) duties
or seeks private interests in the examination of TV plays, it (he) shall be given an administrative punishment according to law.
If any crime is constituted, it (he) shall be subject to criminal liabilities.

Chapter VI Supplementary Provisions

Article 35

The provincial radio and television administrative departments shall, in accordance with the present provisions, formulate measures
for the examination of TV plays by taking into consideration of the actual situation within their respective jurisdictional areas.

Article 36

The present Provisions shall come into force as of October 20, 2004. The Interim Provisions on the Examination of TV Plays of the
SARFT (Order No. 1 of the SARFT) shall be abolished simultaneously.

the State Administration of Radio, Film and Television
2004-09-20

PROVISIONS ON THE EXAMINATION AND APPROVAL OF INVESTMENT TO RUN ENTERPRISES ABROAD

Ministry of Commerce

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

No. 16

The Provisions on the Examination and Approval of Investment to Run Enterprises Abroad, was adopted at the 11th executive meeting
of the Ministry of Commerce on September 23rd, 2004, is hereby promulgated and shall be implemented as of the promulgation date.

Bo Xilai, Minister of the Ministry of Commerce

October 1st, 2004

Provisions on the Examination and Approval of Investment to Run Enterprises Abroad

Article 1

With a view to promoting the development of overseas development, the present Provisions are formulated pursuant to the Administrative
License Law of the People’s Republic of China, the Decision of the State Council about Setting Administrative Licensing for the Administrative
Examination and Approval Items Necessary to Be Preserved and other pertinent provisions.

Article 2

The state shall help and encourage relatively competitive enterprises with various forms of ownership to invest to run enterprises
abroad.

Article 3

The term of “to invest to run enterprises” refers to the operational acts of the enterprises of China such as establishing enterprises
abroad or acquiring the ownership, managerial right or any other right and interest of the existing enterprises by way of establishing
(solely-funded, equity joint or contractual joint ventures), purchasing, merging, holding shares, injecting fund, changing stock
rights, etc.

Article 4

Domestic enterprises (excluding the financial enterprises) to invest to run enterprises abroad shall be subject to the examination
and approval of the Ministry of Commerce. The Ministry of Commerce shall authorize the commerce administrative departments of the
people’s governments of all provinces, autonomous regions, municipalities directly under the Central Government and cities under
separate state planning (hereinafter referred to as “the provincial commerce administrative departments”) to handle the matters pertaining
to the examination and approval of the enterprises other than the enterprises directly under the Central Government to run enterprises
in the countries as listed in the annex.

The Ministry of Commerce shall in time adjust the countries as listed in the Annex in accordance with circumstances and promulgate
them.

Article 5

With respect to the domestic enterprises that intend to invest to run enterprises abroad, the Ministry of Commerce and the provincial
commerce administrative departments shall examine and approve them by taking the following aspects into consideration:

(1)

The investment environment of different countries (regions);

(2)

The status of safety of different countries (regions);

(3)

The political and economic relationship between the investment destination countries (regions) and China;

(4)

The policies for guiding investment abroad;

(5)

The reasonable distribution in different countries (regions);

(6)

The obligations in relevant international treaties; and

(7)

Safeguarding the legitimate rights and interests of enterprises.

A domestic enterprise itself shall be responsible for whether it is economically or technically feasible to invest to run an enterprise
abroad.

Article 6

A domestic enterprise shall not be allowed to invest to run enterprises abroad if:

(1)

it impairs the state sovereignty, security and public interests;

(2)

it violates any law, regulation or policy of the state;

(3)

it is likely to cause the Chinese Government to break any international treaty she has concluded;

(4)

involves any technology or goods prohibited from exporting by China;

(5)

the political situation of the investment destination country is turbulent and there is serious safety problem;

(6)

it is contradictory to the laws, regulations or customs of the investment destination country or region; or

(7)

it is employed for committing transnational crimes.

Article 7

Examination and Approval Procedures

(1)

The enterprises directly under the Central Government shall directly file an application to the Ministry of Commerce, while other
enterprises shall file an application to the provincial commerce administrative departments.

(2)

After the Ministry of Commerce or a provincial commerce administrative department receives the application materials of an applicant,
with respect to the application materials that are incomplete or are inconsistent with the statutory form, it shall, within 5 working
days, notify the applicant of the to-be-supplemented items once and for all; if it fails to do so, it shall be deemed to have accepted
them as of the day when it receives them. As for the application materials that are complete and consistent with the statutory forms
or that have been supplemented by the applicant in light of the relevant requirements, it shall accept them.

(3)

A provincial commerce administrative department shall solicit the opinions of China’s economic and commercial counselor’s office of
the embassy (consulate) to that country (or region). An enterprise directly under the Central Government shall directly consult the
opinions of China’s economic and commercial counselor’s office of the embassy (consulate) to that country or region. The economic
and commercial counselor’s office of the embassy (consulate) to the foreign country (region) shall make a reply within 5 working
days after it receives a letter for soliciting opinions.

(4)

The provincial commerce administrative department shall, in accordance with the authorized power, decide whether to approve or not
within 15 working days as of the acceptance date; if there is necessity to report to the Ministry of Commerce for approval, it shall
conduct preliminary examination within 5 working days as of the acceptance day, and after approving, it shall report to the Ministry
of Commerce.

(5)

The Ministry of Commerce shall decide whether to approve or not within 15 working days as of the acceptance date.

(6)

Where the Ministry of Commerce or the provincial commerce administrative department approves, it shall, in writing, issue an approval
decision; if it doesn’t approve, it shall issue a decision of disapproval.

Article 8

Application Materials

(1)

The application materials to be submitted by an enterprise cover:

(a)

an application (mainly including the name, registered capital, amount of investment, business scope, business period, form of organization
and organizational structure, etc., of the enterprise to be launched);

(b)

the Articles of Association of the enterprise abroad and pertinent agreement or contract;

(c)

the opinions issued by the foreign exchange administrative department about the examination over the source of foreign exchange fund
to invest abroad (having to purchase foreign exchange or remit abroad foreign exchange from China);

(d)

the business license of the domestic enterprise and other relevant qualification certifications as required by the laws and regulations;
and

(e)

other documents as required by the laws, regulations, and decisions of the State Council.

(2)

The materials which the provincial commerce administrative departments shall submit to the Ministry of Commerce cover:

(a)

the preliminary examination opinions of this department;

(b)

the opinions of the economic and commercial counselor’s office of the embassy (consulate) of China;

(c)

the complete application materials submitted by the enterprise.

Article 9

After the application of an enterprise directly under the Central Government is approved, the Ministry of Commerce shall issue an
Approval Certificate of the People’s Republic of China to Invest Abroad (hereinafter referred to as the Approval Certificate) to
the applicant. With respect to an enterprise not directly under the Central Government, the provincial commerce administrative department
shall issue an Approval Certificate to it on behalf of the Ministry of Commerce.

A domestic enterprise shall go through the matters pertaining to foreign exchange, bank, customs, foreign affairs, etc. upon the strength
of the Approval Document.

Article 10

A domestic enterprise, which has obtained an approval, shall submit the statistical materials and accept the joint annual examination
on overseas investment and comprehensive performance evaluation of overseas investment. With regard to an enterprise invested abroad
upon approval, after it have been registered at the locality, it shall submit the registration documents to the Ministry of Commerce
for archival purpose and register in the economic and commercial counselor’s office of the embassy (consulate) of China.

Article 11

Where any of the items listed in Article 8 (1) of the present Provisions is modified, it shall be subject to the examination and
approval of the original approval organ.

Article 12

The foreign-funded enterprise to invest to run enterprises abroad shall observe relevant laws and regulations. They shall be subject
to the examination and approval of the provincial commerce administrative department or superior. Among the aforesaid foreign-funded
enterprises, those established upon approval of the Ministry of Commerce shall be subject to the examination and approval of the
Ministry of Commerce before they invest to run enterprises abroad, the others shall be subject to the examination and approval of
the provincial commerce administrative departments before they invest to run enterprises abroad. The specific requirements shall
be issued by the Ministry of Commerce in a separate document.

Article 13

The Ministry of Commerce will separately formulate measures concerning the e-government approaches such as on-line applications, and
the issuance of approval certificates.

Article 14

A provincial commerce administrative department shall not authorize its subordinate commerce administrative departments to handle
the matters pertaining to the examination and approval of the investments to run enterprises abroad, nor may it insert any approval
link, application material or approval content.

Article 15

A mainland enterprise to establish an enterprise in Hong Kong or Macao Special Administrative Region shall be subject to the examination
and approval under relevant provisions.

Article 16

Where any administrative measure promulgated prior to the present Provisions is inconsistent with the present Provisions, the latter
shall apply.

Article 17

The power to interpret the present Provisions shall remain with the Ministry of Commerce.

Article 18

The present Provisions shall be implemented as of the promulgation date.

Annex:The Names of the Countries in Which the Ministry of Commerce Authorize the Local Provincial Commerce Administrative Departments To
Handle the Matters pertaining to the Examination and Approval of the To-be-run Enterprises

Continent/Country

Asia (38)

Thailand

Kuweit

Sri Lanka

Maldives

Malaysia

Pakistan

Turkey

Mongolia

India

Nepal

Uzbekistan

Kyrghyz

Armenia

Philippines

Kazakhstan

South Korea

Turkmenistan

Vietnam

Laos

Tadzhikistan

the United Arab Emirates

Azerbaijani

Indonesia

the Sultanate of Oman

Israel

Saudi Arabia

Lebanon

Cambodia

Bangladesh

Syria

Yemen

Cartel

Bahrain

Iran

Negara Brunei Darussalam

Cyprus

Jordan

Burma

Europe (37)

Swede

Germany

France

Belgium

Luxemburg

Finland

Malta

Norway

Italy

Demark

Holland

Austria

Britain

Switzerland

Poland

Bulgaria

Hungary

Czech

Slovak

Portugal

Spain

Greece

Russia

Ukraine

Moldova

White Russia

Albania

Croatia

Esthonia

Slovenia

Lithuania

Iceland

Rumania

Yugoslavia

Macedonia

Bosnia and Herzegovina

Latvia

Africa (42)

Ghana

Egypt

Morocco

Mauritius

Zimbabwe

Zambia

Algeria

Gabon

Mali

Lybia

Angora

Cameroon

Nigeria

Sudan

Congo-kin

South Africa

Cape Verde

Ethiopia

Congo-Brazzaville

Botswana

Sierra Leone

Mozambique

Kenya

Djibouti

Benin

Uganda

Mauritania

Guinea

Guinea-Bissau

Madagascar

Central Africa

Tanzania

Togo

Lesotho

Eritrea

Cape Verde

Guinea Ecuatorial

Seychelles

Comorin

Liberia

Niger

Tunis

America (14)

Canada

Mexico

Brazil

Bolivia

Argentina

Uruguay

Ecuador

Chile

Peru

Jamaica

Cuba

Barbados

Trinidad and Tobago

Guyana

Oceania

Australia

New Zealand

Papua New Guinea

Fiji

Ministry of Commerce
2004-10-01

DECISION OF THE MINISTRY OF COMMERCE ON ABOLISHING THE SECOND BATCH OF REGULATIONS AND REGULATORY DOCUMENTS

the Ministry of Commerce

Decision of the Ministry of Commerce on Abolishing the Second Batch of Regulations and Regulatory Documents

Since 1993, the department undertaking the administration of domestic trade under the State Council has gone through evolutions. After
the reform of government institutions of the State Council in 2003, the function of administering the domestic trade has been ranked
into the newly established Ministry of Commerce. With the view of promoting the development of domestic trade and the establishment
of market circulation legal system and promoting administration by law, the Ministry of Commerce has made an overall cleaning-up
on the regulations and regulatory documents promulgated by the former Ministry of Material Supplies, the former Ministry of Commerce,
the former Ministry of Domestic Trade, the former Bureau for Domestic Trade and the former State Economic and Trade Commission since
1993. After the cleaning-up, the Ministry of Commerce, upon the approval of the relevant departments of the State Council, decides
to abolish the second batch of 33 departmental regulations and regulatory documents (See the Attachment for the table of contents)

Attachment: The Table of Contents of Abolished Regulations and Regulatory Documents Determined by the Ministry of Commerce (the second
batch)

Minister Bo Xilai

October 15, 2004 Attachment:The Table of Contents of Abolished Regulations and Regulatory Documents Determined by the Ministry of Commerce (the second batch)

htm/e03754.htmSerial Number

Serial Number	Name of Legal Documents	Organs of Promulgation	Number of Documents	Date of Promulgation	Reasons for Abolishment
1	Notice on Issuing the Standard of Technical Grades for Workers in Material Supplies Industry	Ministry of Material Supplies and Ministry of Labor	No.13 [1993] of the Ministry of Material Supplies	February 8, 1993	Been substituted by the new standard as prescribed in the Notice on Printing and Distributing the Sixth Batch of Professional Standard of the State (No. 14 [2003] of the Office of Labor and Social Security)
2	Notice of the Ministry of Material Supplies and the State Administration for Industry and Commerce on the Exemption of Handling "Navicert" for the Sale of the "GD-SANYO" Air Conditioners Out of the Province by the Guangdong SANYO Co.	Ministry of Material Supplies and the State Administration for Industry and Commerce	No.38 [1993] of the Ministry of Material Supplies	February 15, 1993	The object of adjustment has no longer existed and actually it has been invalidated.
3	Joint Notice of the Ministry of Metallurgy, the Ministry of Domestic Trade, the State Economic and Trade Commission, the Ministry of Construction, the Ministry of Agriculture and the State Administration of Technical Supervision on Strictly Prohibiting the Production and Sale of False and Inferior Steel	the Ministry of Metallurgy, the Ministry of Domestic Trade, the State Economic and Trade Commission, the Ministry of Construction, the Ministry of Agriculture and the State Administration of Technical Supervision	No.256 [1993] of the Ministry of Metallurgy	June 9, 1993	The application period has expired and actually it has been invalidated.
4	Emergency Notice on Ensuring the Completion of the Task for Allocating and Transporting Timber for the Use of Key Production Construction of the State and for Providing Disaster Relief	the Ministry of Domestic Trade, the Ministry of Forestry, the Ministry of Railway and the Ministry of Communications	No.89 [1993] of the Ministry of Domestic Trade	August 25, 1993	The application period has expired and it has been invalidated actually.
5	Notice of the Ministry of Domestic Trade and the State Administration for Industry and Commerce on g the Administration of Import Commodities in Guangdong, Fujian and Hainan Provinces	the Ministry of Domestic Trade and the State Administration for Industry and Commerce	No.300 [1993] of the Ministry of Domestic Trade	November 23, 1993	The application period has expired and it has been invalidated actually.
6	Notice of the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation and the General Administration of Customs on Printing and Distributing the Detailed Rules for the Implementation of Management on the Import of Specific Products	the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation and the General Administration of Customs	No.564 [1993] of the State Economic and Trade Commission	January 12, 1994	Having been substituted by the Detailed Rules for the Implementation of the Management on Import of Specific Machinery and Electrical Equipment (Order No. 24 [2001] of the Ministry of Foreign Trade and Economic Cooperation and the General Administration of Customs)
7	Several Provisions of the Ministry of Domestic Trade on Strengthening the Management on Credit Cards	the Ministry of Domestic Trade	No.945 [1994] of the Ministry of Domestic Trade	November 28, 1994	The application period has expired and it has been invalidated actually.
8	Measures for the Special Funds for National Bulk Cement	the Ministry of Domestic Trade and the Ministry of Finance	the Ministry of Finance 2004-10-30

THE CIRCULAR OF THE GENERAL OFFICE OF THE CBRC ON RELEVANT MATTERS CONCERNING STANDARDIZING THE OPERATION AND ADMINISTRATION OF THE SECURITIES BUSINESS OF TRUST AND INVESTMENT COMPANIES

China Banking Regulatory Commission

The Circular of the General Office of the CBRC on Relevant Matters concerning Standardizing the Operation and Administration of the
Securities Business of Trust and Investment Companies

November 16, 2004

With a view to standardizing securities business of trust and investment companies, earnestly handling well the work of risk prevention,
and carrying out further the Circular on Relevant Matters of Trust and Investment Companies in Opening Trust Special Securities Account
and Trust Special Capital Account (Yin Jian Fa [2004] No.61), the relevant matters concerning the securities business of trust and
investment companies are notified as follows:

Where the trust and investment company uses the trust capital to engage in securities investment, it shall conform strictly to the
provisions of Trust Law of the People’s Republic of China, Regulations on Trust and Investment Companies, Interim Measures for the
Administration of Capital Trust of Trust and Investment Companies, shall manage the trust capital and its inherent capital separately
and keep separate accounts, and shall manage the trust capital of different trustors separately and keep separate accounts. And pursuant
to the Circular on Relevant Matters concerning Open and Use of RMB Bank Settlement Accounts of Trust and Investment Companies (Yin
Fa [2003] No.232) and the Circular on Relevant Matters concerning Opening Special Securities Account for Trust and Special Capital
Account for Trust of Trust and Investment Companies (Yin Jian Fa [2004] No. 61), special property account of trust capital shall
be opened in a commercial bank, special securities account for trust thereof shall be opened in Shanghai branch or Shenzhen branch
of China Securities Depository &Clearing Corporation Limited and the special capital account for trust thereof shall be opened in
those securities companies as approved by China Securities Regulatory Commission.

Where the trustor stipulates the trust and investment company to manage and use independently the trust capital, the trust and investment
company shall open separate account for the trust capital pursuant to the principle of one account for one trust document. Where
the trustor stipulates the trust and investment company to use trust capital under a certain collective trust plan, the trust and
investment company shall open separate account for the trust capital in accordance with the principle of one account for one trust
program.

The trust and investment company shall disclose matters of opening special account to the trustor and beneficiary in time, and submit
a report on matters of opening trust special securities account and trust special capital account to banking regulatory authorities
responsible for the direct supervision and administration. As to failure to open the special account in former securities business
for being overdue, the reason and main contents of the thereof shall be reported.

The trust and investment company shall establish and improve the company governance and internal control mechanism, strengthen the
independence and effectiveness of internal auditing department, take practical measures to prevent the controlling shareholders and
actual controlling persons from intervening, promote the management of securities investment business staff, and form a scientific
decision mechanism and long-term effective mechanism of securities investments.

Where the trust and investment company uses its inherent capital or trust capital to engage in securities investments, it shall follow
the principle of portfolios of investments and decentralization of risks, and must formulate in advance the investment proportion
and strategy and establish the risk stop-loss point in accordance with the provisions of Circular on Further Strengthening the Supervision
and Administration of Trust and Investment Companies (Yin Jian Fa [2004] No.46) etc.

Where the trust and investment company uses its self-owned capital to engage in securities investments, the sum of total balance of
market value per day from the investments to stocks, corporate bonds and securities investment funds shall not exceed 50 percent
of their net assets (including 50%).

Banking regulatory authorities at all levels shall strengthen the supervision and administration of the securities business of trust
and investment companies within the areas under their respective jurisdictions. Where the trust and investment company, in engaging
in securities business, fails to comply with this Circular and the relevant administrative regulations, it shall be ordered to make
rectification, and limited to start new securities business; Where there are serious circumstances, its securities investment business
shall be suspended.

Trust and investment companies shall conform strictly to the provisions of the relevant laws, regulations and this Circular in new
securities investment business after the issuance of this Circular.

Where the trust and investment company fails to conform to the provisions of this Circular in securities investment business engaged
before the issuance of this Circular, it shall be normalized earnestly before December 31, 2004.

This Circular shall enter into force as of the date of Promulgation. All banking regulatory bureaus shall report in good time to China
Banking Regulatory Commission where problems arise in the execution.

China Banking Regulatory Commission
2004-11-16

CIRCULAR OF SAFE ON PRINTING AND DISTRIBUTING THE OPERATION DIRECTIONS (FOR TRIAL IMPLEMENTATION) OF THE INTERIM MEASURES FOR ADMINISTRATION OF SALES AND PAYMENTS OF EXCHANGE IN TRANSFERRING INDIVIDUAL PROPERTY ABROAD

The State Administration of Foreign Exchange

Circular of SAFE on Printing and Distributing the Operation Directions (for Trial Implementation) of the Interim Measures for Administration
of Sales and Payments of Exchange in Transferring Individual Property Abroad

Hui Fa [2004] No.118

December 9, 2004

The branches and foreign exchange offices of the State Administration of Foreign Exchange of all provinces, autonomous regions, and
municipalities directly under the Central Government, and the branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo:

The Interim Measures for the Administration of Sales and Payments of Exchange in Transferring Individual Property Abroad (hereinafter
referred to as the Measures) has come into force as of the date of December 1, 2004. With a view to ensuring the implementation of
this policy, specifying relevant operation procedures, and making formalities convenient for applicants, in accordance with the relevant
provisions, the State Administration of Foreign Exchange formulates the Operation Directions (for Trial Implementation) of the Interim
Measures for the Administration of Sales and Payments of Exchange in Transferring Individual Property Abroad, please implement it
accordingly.

Attachment:The Operation Directions (for Trial Implementation) of the Interim Measures for the Administration of Sales and Payments
of Exchange in Transferring Individual Property Abroad htm/e03848.htmAttachment

Attachment:

The Operation Directions (for Trial Implementation) of the Interim Measures for the Administration of Sales and Payments of Exchange
in Transferring Individual Property Abroad

1.Operation Procedures

(1) Procedures for the application of emigration transfer, inheritance transfer, and for the purchase of exchange and outward remittance
for the first time

(i) the applicant files an application

Amount applied beyond the equivalent

(ii) Examination of local forex authorities—————————————————————–i) examination and approval of SAFE

; issuance of approval document to local forex authorities after approval t>

——————————————————————————————-n>

—————————————————————span>

(v) Issuance of the approval document for (the first time) purchase of exchange,remittance outward to the applicant

(iv) Issuance of the approval reply letter to the applicant (reply lettermay not be issued in the case of approval to remit outward in one time )

(vi) The applicant goes through the purchase of exchange and outward remittances formalities at the designated foreign exchange
bank on the basis of the approval document

(2) The operation procedures for second and afterwards exchange purchase and outward remittance of emigration transfer

(vii)the applicant files application

(viii)examination and approval of local foreign exchange authorities

(ix) Issues the exchange purchase, outward remittance approval document to the applicant

(x)The applicant goes through the purchasing and remittance procedures in the designated foreign exchange bank on the basis of the approval
document of the foreign exchange authorities

2. The applicant qualification

(1) Definition (Article 2 of the Measures)
”Emigration transfer” refers to the activity of a natural person who emigrates abroad and has permanent residence thereof or who goes
to Hong Kong, Macau SAR and has permanent residence thereof or who goes to Taiwan region from the mainland and resides there realizes
the legal property owned by him within the territory before he (she) gets an emigration status and purchases exchange in designated
foreign exchange bank and remits outward the exchange.
”Inheritance transfer” refers to the activity of a foreign citizen or a permanent resident of Hong Kong, Macau SAR or Taiwan region
who realizes the property inherited within the territory, purchases exchange in designated foreign exchange bank and remits outward
the exchange.
(2) The qualification of the applicant for emigration transfer
i. A natural person emigrates from Chinese mainland to a foreign country and has permanent residence in the country of residence or
has the citizenship of the country of residence;
ii. A natural person goes to Hong Kong or Macau SAR from the mainland and has the permanent residence of the SAR;
iii. A natural person goes to and resides in Taiwan region from Chinese mainland.
(3) The qualification of applicant for inheritance transfer
i. Foreign citizen;
ii. Permanent resident of Hong Kong, Macau SAR;
iii. Resident in Taiwan region.
3. Identity documents of the applicant
(1) The identity documents of the applicant for emigration transfer (paragraph 4 of article 8 of the Measures)
i. the applicant who is a Chinese citizen and has foreign permanent residence shall provide:
(i) Valid passport of the People’s Republic of China or other valid identity certificate such as the Alien Certificate issued by the
country of residence;
(ii) The abroad residence certificate of the applicant issued (authenticated) by China’s embassy abroad;
(iii) The Chinese resident registration cancellation certificate issued by public security authorities.
ii. The applicant who has foreign citizenship shall provide:
(i) The ID card of the country of residence of the applicant or other valid identity certificate (for example, passport);
(ii) The abroad residence certificate of the applicant authenticated by China’s embassy abroad;
(iii) The Chinese resident registration cancellation certificate issued by public security authorities.
iii. The applicant who is the resident of Hong Kong, Macau SAR shall provide:
(i) (Permanent) resident ID Card of Hong Kong, Macau SAR or other valid identity certificate;
(ii) Home-visiting certificate or the passport of SAR;
(iii) The inland resident registration cancellation certificate issued by public security authorities.
iv. The applicant who is a resident in Taiwan region shall provide:
(i) The resident ID Card of Taiwan region or other valid identity certificate for residing in Taiwan;
(ii) The laissez-passer of mainland resident commuting from mainland to Taiwan or other entry-exit certificate;
(iii) The mainland resident registration cancellation certificate issued by pubic security authorities.
(2) The identity documents of the applicant for inheritance transfer (paragraph 3 of article 9 of the Measure)
i. The applicant who is a foreign citizen shall provide:
(i) The foreign passport or other certificate document held by the applicant that can testify his nationality;
(ii) The resident ID card of the country of residence of the applicant or other valid identity certificate;
(iii) The residence certification of the applicant for that country authenticated by China’s embassy abroad;
ii. The applicant who is the resident of Hong Kong, Macau SAR shall provide:
(i) (Permanent) Residence Card of Hong Kong, Macau SAR or other valid identity certificate;
(ii) Home-visiting certificate or the passport of SAR;
iii. The applicant who is a resident in Taiwan region shall provide:
(i) The resident ID Card of Taiwan region or other valid identity certificate for residing in Taiwan;
(ii) The laissez-passer of mainland resident commuting from mainland to Taiwan or other entry-exit certificate;
4. Related applying material
(1) The applying material for emigration transfer (Article 8 of the Measure, operation procedure 1)
The applicant shall submit application material to the foreign exchange authorities subject to following format and contents:
i. Written application. Including: Basic information introduction of the applicant, the reason to the application for emigration transfer,
the property or income source and a detailed account of the realization, etc.;
ii. The Information Table of the Applicant for Emigration Property Transfer Abroad with the signature of the applicant (see attached
table1);
iii. The Application Table for Exchange Business in Transferring Abroad Individual Property with the signature of the applicant or
his agent (see attached table 2)
iv. The identity document of the applicant (to provide in accordance with Article 3 of this Directions)
v. The certificate of income source and other property rights certificates;
The certificate of income source and other property rights certificates referred to in this paragraph include:
(i) The income source certificate shall be provided with respect to the individual salary and rewards (including salary and stipend,
income from author’s remuneration, income from remuneration for personal service).
(ii) With respect to the business income (including income derived from production and business operation and income from contracted
or leased operation of enterprises and institutions by private owner, individual shareholder of enterprises, individual industrial
and commercial households), the declaration table, equity certificate or contracting, leasing contract or agreement and other material
attesting the income source such as financial statements of enterprises, the distribution decisions of the director board of enterprises
shall be provided.
(iii) With respect to capital income and the realization (including income derived from interest, dividend, bonus, property leasing,
property transfer and franchising), the deposit certificate, the record in opening stock or bond account and the transaction thereof,
the contract or agreement to property leasing, transfer, franchising, the property right certificate of house, the real estate sale
& purchase agreement or the dismantle and removal compensation agreement shall be provided.
(iv) With respect to contingent income (including legal income from welfare lottery, sport lottery, etc) and other property and income,
the proof of actual transaction record shall be provided.
vi. Relevant tax documents or tax payment receipts shall be submitted in accordance with relevant provisions of the State Administration
of Taxation.
vii. Agency authorization agreement and the identity documents of the agent shall be provided if the formalities are handled by authorized
agent.
The identity document of the agent referred to in this paragraph is the ID card or other valid identity document if the agent is a
resident within the territory; or if the agent is a foreign citizen or a Chinese citizen who resides abroad, the identity document
of the agent authenticated or issued by abroad Chinese embassy is required to be submitted.
The property rights document mentioned above such as the property right certificate of house, the real estate sale & purchase
agreement or the dismantle and removal compensation agreement, the contract or agreement to contract, lease property, property transfer
contract or agreement, franchising contract or agreement shall be notarized and the authorization agreement and the identity document
of the agent shall be notarized.
(2) The applying material for emigration transfer (Article 9 of the Measure, operation procedure 1)
i. Written application. Including: an introduction of the general information of the applicant, the relation between the applicant
and the predecessor, the reason to the application for inheritance transfer, the property source of the predecessor and a detailed
account of the realization, etc.;
ii. The Information Table of the Applicant for Emigration Property Transfer Abroad with the signature of the applicant (see attached
table1);
iii. The identity certificate of the applicant (to provide in accordance with Article 3 of this Directions);
iv. The document proving that the applicant inherits the property;
v. The proof document of the right of the inherited property;
The property right referred to in this paragraph means the primary status of the property inherited by the applicant; related proof
document of property rights include:
(i) With respect to real property (such as house), the post_title deed of house, the sale & purchase agreement for real estate or the
dismantle and removal compensation agreement etc. shall be provided;
(ii) With respect to chattel (such as vehicles), the ownership certificate such as vehicle registration shall be provided;
(iii) With regard to financial assets (savings, stocks and bonds etc.), savings proof, opening account and trading records of stocks
and bonds, and equity certificate etc. shall be provided;
(iv) With regard to other assets, proof of the property ownership by inheritance shall be provided.
vi. Relevant tax document or tax payment receipt shall be submitted in accordance with relevant provisions of the State Administration
of Taxation.
vii. Agency authorization agreement and the identity document of the agent shall be provided if the formalities are handled by authorized
agent.

INTERPRETATION BY THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS REGARDING THE CREDIT CARD PRESCRIBED IN THE CRIMINAL LAW

Interpretation by the Standing Committee of the National People’s Congress Regarding the Credit Card Prescribed in the Criminal Law of the People’s Republic of China



	(Adopted at the 13th Meeting of the Standing Committee of the Tenth National People’s Congress on December 29, 2004) In light of the problems encountered in judicial practice, the Standing Committee of the National People’s Congress has discussed the implication of “the credit card” prescribed in the Criminal Law and gives the interpretation as follows: “The credit card” prescribed in the Criminal Law refers to the electronic payment card that is issued by commercial banks or other financial institutions and that performs the full or part of the functions of payment for consumption, credit loan, transference and settlement, cash deposit and withdrawal, etc. The Interpretation is hereby announced.

1...789...29 Page 8 of 29

Brazilian Laws

CONSTITUTIONAL AMENDMENTS part 4 – 1988 Constitution

CONSTITUTIONAL AMENDMENTS part 3 – 1988 Constitution

MEASURES FOR THE MANAGEMENT OF AUTO LOANS

LAW OF THE PEOPLE’S REPUBLIC OF CHINA ON ELECTRONIC SIGNATURE

REGULATIONS OF THE ORIGIN OF IMPORTED – EXPORTED GOODS OF PRC

PROVISIONS ON THE ADMINISTRATION OF EXAMINATION OF TV PLAYS

PROVISIONS ON THE EXAMINATION AND APPROVAL OF INVESTMENT TO RUN ENTERPRISES ABROAD

DECISION OF THE MINISTRY OF COMMERCE ON ABOLISHING THE SECOND BATCH OF REGULATIONS AND REGULATORY DOCUMENTS

THE CIRCULAR OF THE GENERAL OFFICE OF THE CBRC ON RELEVANT MATTERS CONCERNING STANDARDIZING THE OPERATION AND ADMINISTRATION OF THE SECURITIES BUSINESS OF TRUST AND INVESTMENT COMPANIES

CIRCULAR OF SAFE ON PRINTING AND DISTRIBUTING THE OPERATION DIRECTIONS (FOR TRIAL IMPLEMENTATION) OF THE INTERIM MEASURES FOR ADMINISTRATION OF SALES AND PAYMENTS OF EXCHANGE IN TRANSFERRING INDIVIDUAL PROPERTY ABROAD

INTERPRETATION BY THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS REGARDING THE CREDIT CARD PRESCRIBED IN THE CRIMINAL LAW

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