MINISTRY OF COMMERCE ANNOUNCEMENT NO.55, 2005 ON ADJUSTMENT ON PERMITTED IMPORT QUOTA OF NON-STATE-TRADE CRUDE OIL AND PRODUCT OIL OF 2005

Ministry of Commerce

Ministry of Commerce Announcement No.55, 2005 on Adjustment on Permitted Import Quota of Non-state-trade Crude Oil and Product Oil
of 2005

[2005] No. 55

In accordance with related regulations of Administrative Regulations on Import and Export of Commodities of the People’s Republic
of China, adjustment on permitted import quota of non-state-trade crude oil and product oil are now announced as follows:

All users of permitted import quantum of non-state-trade crude oil and product oil should return back all unattainable import quota
to administrative sectors on import of important industrial products (hereinafter referred to as “administrative sectors on import”)
authorized by Ministry of Commerce before Sep 15; for those failing to return back un-fully-used quota, administrative sectors on
import may deduct their permitted import quota of 2006 proportionally. In addition, users may apply to transfer the predicted unattainable
quota of non-state-trade crude oil and product oil to be used up until Mar 31, 2006.

Administrative sectors on import should inform users of permitted import quota of non-state-trade crude oil and product oil of the
adjustment, and return back all unattainable permitted import quota and report the transferring applications to Ministry of Commerce
before Sep 15, 2005. Ministry of Commerce will redistribute all returned permitted import quota before Sep 30, 2005.

Ministry of Commerce

Sep 2, 2005