CIRCULAR OF THE MINISTRY OF FINANCE, THE STATE ADMINISTRATION OF TAXATION OF THE PEOPLE’S REPUBLIC OF CHINA, ON ISSUES CONCERNING THE TAXATION POLICY OF SHANGHAI WORLD EXPO IN 2010

Circular of the Ministry of Finance, the State Administration of Taxation of the People’s Republic of China, on Issues Concerning
the Taxation Policy of Shanghai World Expo in 2010

Cai Shui [2005] No. 180

Financial offices (bureaus) of all provinces, autonomous regions, municipalities and separately listed cities in plan, national tax
bureaus and local tax bureaus, and financial bureau of Xinjiang Production and Construction Corps:

Approved by the State Council, here announces issues concerning the taxation policy of Shanghai World Expo in 2010 for purposes of
ensuring a complete success of Shanghai World Expo in 2010, fully showing forth the achievements of China’s reform and opening up
and advocating the theme of the Shanghai World Expo—-“better city, better life”, and promoting communications of economic, social,
cultural and technical achievements among countries and regions.

1.

Bureau of Shanghai World Expo Coordination and its consigned Shanghai World Expo (Group) Co., LTD will enjoy preferential tax policies
on revenues from the Expo.

2.

The Bureau of International Expositions and participants of Shanghai World Expo in 2010 will enjoy relevant preferential tax policies.

3.

This circular takes effect as from the date of your receipt, and the imposed tax will not be handed back.

4.

In view of the wide involvement and long-lasting implementation of the preferential tax policies of Shanghai World Expo in 2010,
all local financial and tax departments should focus on the implementation of above preferential tax policies, and report the newly
emerged tax-related affairs and problems encountered in implementation to Ministry of Finance and State Administration on Taxation.

Ministry of Finance

State Administration of Taxation

December 31, 2005