RULES FOR THE IMPLEMENTATION OF THE EXAMINATION AND APPROVAL OF APPLICATIONS BY INDIVIDUALS FOR FOREIGN EXCHANGE

INTERIM PROVISIONS ON THE STANDARDS OF REGISTRATION FEES PAID BY CHINESE-FOREIGN EQUITY JOINT VENTURES

The State Administration for Industry and Commerce

Interim Provisions on the Standards of Registration Fees Paid by Chinese-foreign Equity Joint Ventures

the State Administration for Industry and Commerce

February 2, 1982

Interim regulations on the standards of registration fees and re-registration fees to be paid by Chinese-foreign equity joint ventures
(to be referred to hereafter as joint ventures) are hereby drawn up according to the prescriptions of Article Eight of the “Rules
on the Registration and Management of Chinese-foreign Equity Joint Ventures” promulgated by the State Council of the People’s Republic
of China. The regulations are as follows:

Joint ventures whose establishment has been approved by the Foreign Investment Management Committee of the People’s Republic of China
or its commissioned people’s governments of the provinces, municipalities or autonomous regions or ministries, commissions or general
bureaus under the State Council, and those which have received certificates of approval from the Foreign Investment Management Committee
should pay registration fees according to the following standards, when they get registered and receive business licenses from the
People’s Republic of China.

(a)

The required registration fees stand at 1/1000 of the registered capital if the capital is at or below the 10 million yuan level.

(b)

If the registered capital exceeds the 10 million yuan level, the required registration fees stand at 0.5/1000 for the sum above the
10 million yuan level, while the registration fees for the sum below the 10 million yuan level remain at 1/1000.

If a joint venture intends to increase its capital after registration, the registration fees will be re-calculated on the basis of
the total sum of the capital. The joint venture should then pay additional registration fees for their increased capital according
to the above prescriptions.

If a joint venture asks for re-registration or for a new business license when it has been granted permission to move to a new place;
change its direction of production; increase, decrease or transfer the possession of its registered capital; replace its director
or general manager; or to extend the period of contract, it should pay 100 yuan each time as re-registration fee.

In case it only increases its registered capital after having paid the required registration fees, it does not have to pay a re-registration
fee.

If both the Chinese party and the foreign party are engaged in joint ventures in each other’s country, and if the difference of the
standards of registration fees is too great, they may seek a settlement through negotiations on the basis of reciprocity.

Ventures jointly run by Chinese and foreigners and those using only foreign investment and run exclusively by foreigners with the
permission of the Foreign Investment Management Committee of the People’s Republic of China or its commissioned people’s governments
of the provinces, municipalities or autonomous regions should also pay registration or re-registration fees according to the foregoing
provisions.

Ventures invested and run exclusively by overseas Chinese, Hongkong and Macao compatriots or ventures invested and run jointly by
them and mainland enterprises (including those run on the basis of co-operation) with the permission of the Foreign Investment Management
Committee of the People’s Republic of China or its commissioned people’s governments of the provinces, municipalities or autonomous
regions pay only half of the registration or re-registration fees that joint ventures pay.

In the event that the above-said enterprises need legal papers for identification when they go to start business in other countries,
they will be supplied with “Business Certificates of the People’s Republic of China” by the State Administration for Industry and
Commerce Administration of the People’s Republic of China. A fee of 20 yuan will be charged for each such certificate.

The interim regulations shall enter into force as of the date of promulgation. The above-said enterprises should pay retroactive registration
fees if their establishment was approved and registered before the promulgation of these Interim regulations but no registration
fees have yet been paid.

The State Administration for Industry and Commerce
1982-02-02

DOING PROCESSING, ASSEMBLING AND SMALL AND MEDIUM-SCALED COMPENSATION TRADE

REGULATIONS ON FOREIGN CURRENCY DEPOSITS AND SPECIAL RENMINBI DEPOSITS BY THE BANK OF CHINA

Regulations on Foreign Currency Deposits and Special Renminbi Deposits by the Bank of China

(Issued by the Bank of China on January 1, 1983)

CONTENTS

I. BANK OF CHINA REGULATIONS FOR FOREIGN CURRENCY DEPOSITS (CATEGORY A)

II. BANK OF CHINA REGULATIONS FOR FOREIGN CURRENCY DEPOSITS (CATEGORY B)

III.BANK OF CHINA REGULATIONS FOR SPECIAL RENMINBI DEPOSITS

I. BANK OF CHINA REGULATIONS FOR FOREIGN CURRENCY DEPOSITS (CATEGORY A)

Article 1. Deposits under these regulations are handled by the Banking Department of the Head Office of the Bank of China and the bank’s domestic
branches and sub-branches.

Article 2. An account for deposits may be opened by the following bodies, enterprises and organizations:

(1) Foreign diplomatic, consular and commercial missions, organs of international bodies and offices of non-governmental organizations
stationed in China;

(2) Chinese and foreign enterprises and organizations set up in foreign countries or the Hongkong and Macao regions;

(3) Enterprises operating in China with overseas Chinese capital or foreign capital or joint Chinese and foreign capital;

(4) State organs, organizations,schools, state-owned enterprises and establishments and collective urban and rural economic bodies
in China;

(5) Others with the approval of the Bank of China.

Article 3. Foreign exchange of the following kinds may be deposited in the aforesaid account:

(1) Foreign exchange in convertible currency remitted brought, or sent into China from abroad or the Hongkong and Macao regions.
Where the foreign exchange is in foreign bank-notes, the banknotes shall have to be first sold to the bank at its current buying
rate and the proceeds converted into foreign currency as its current selling rate before the account can be credited. Where a foreign
currency bill is not payable immediately, the amount can be credited to the account only after collection by the bank;

(2) Foreign exchange funds of enterprises operating with overseas Chinese capital or foreign capital or joint Chinese and foreign
capital;

(3) Foreign exchange kept by Chinese state organs, enterprises, establishments and organizations with the approval of the government
department in charge of foreign exchange control;

(4) Other kinds of foreign exchange which the Bank of China has agreed to accept for deposit.

Article 4. Deposits are of two types, namely, fixed deposit and current deposit. Interest shall be paid at the rates published by the Head
Office of the Bank of China.

(1) A fixed deposit takes the form of a deposit certificate issued in the name of the depositor and must be established and withdrawn
in its entirety in one lump sum. Maturity may be of 3 months, half a year, 1 year or 2 years. The initial deposit must not be less
than the equivalent of RMB 10, 000. Where the interest rate changes prior to maturity, interest on the deposit shall still be paid
at the rate originally fixed at the time of deposit. If the deposit is renewed after maturity, the interest rate ruling on the date
of renewal is to apply.

(2) A current deposit takes two forms, namely, deposit book and current account. The initial deposit must not be less than the equivalent
of RMB 1, 000. Withdrawals may be made at any time either by presentation of the deposit book or by a withdrawal slip, but no overdraft
is allowed. Approval must be obtained from the bank in case the holder of a current account in China wishes to use cheques because
of special need, but no interest is allowed for current accounts using cheques.

Deposits are restricted to 5 kinds of currencies, namely, the US dollar, Pound sterling, Hongkong dollar, Deutsche mark and Japanese
yen. Deposits in other currencies shall be credited to the account only after the currency concerned has been converted into one
of the aforesaid 5 currencies at the ruling exchange rate.

Article 5. A request for opening an account for deposit must be accompanied by an identification document, a letter of application and a specimen
signature. If what is established is a fixed deposit, the bank shall issue to the depositor a fixed deposit certificate in depositor’s
name, whereas if it is a current deposit, the bank shall issue to the depositor a deposit book or an advice notifying it of the opening
of the account.

Article 6. The Use of Deposits:

(1) Funds in a deposit may be remitted to place within or outside China.

(2) Funds in a deposit may be converted into Renminbi at the ruling exchange rate.

(3) Funds in a deposit may be transferred to another foreign currency account kept with the bank.

(4) With the approval of the bank, foreign banknotes may be sold to the personnel of the depositor to meet the needs of their departure
from China. In principle, transfers abroad should be made in the same kind of currency as that deposited. If transfers are made
in any other foreign currency, they shall be dealt with as where foreign exchange is bought and sold by the bank.

The use of a deposit by state organs, organizations, schools state-owned enterprises and establishments, collective urban and rural
economic bodies and enterprises operating with joint Chinese and foreign capital in China shall be in conformity with the foreign
exchange control regulations of the country.

Article 7. On maturity, a fixed deposit may be withdrawn against the deposit certificate and the specimen signature previously left with the
bank or according to a pre-arranged procedure. A current deposit may be withdrawn against the deposit book and a withdrawal slip
or according to a pre-arranged procedure.

Article 8. A fixed deposit may be renewed on maturity by presenting the deposit certificate and furnishing the specimen signature to the bank
or according to the pre-arranged procedure. In case a fixed deposit is not withdrawn or renewed on maturity, interest for the period
after maturity shall be calculated at the rate for current deposits ruling on the date of maturity. Where a fixed deposit is withdrawn
before maturity because of special need, the interest paid shall be that for current deposits ruling on the date of withdrawal.

Article 9. In case of loss of the deposit certificate, deposit book, cheques or signature stamp (seal), the depositor shall immediately file
a written request for stop-payment with the bank against a certificate issued by the depositor’s unit or other documents originally
agreed upon. Upon the bank’s approval, a new deposit document may be issued to the depositor or a new specimen signature allowed
to replace the old one. If a deposit has been withdrawn by other persons prior to receipt by the bank of the request for stop-payment,
the bank shall not bear any responsibility.

Article 10. On closing an account, the depositor shall return to the bank the deposit book, certificate or unused cheques together with other
related documents, if any.

Article 11. The bank has the responsibility for the confidentiality of the deposit of the depositor.

Article 12. These regulations are promulgated and put into force by the Head Office of the Bank of China.

II. BANK OF CHINA REGULATIONS FOR FOREIGN CURRENCY DEPOSITS (CATEGORY B)

Article 1. Deposits under these regulations are handled by the Banking Department of the Head Office of the Bank of China and the bank’s domestic
branches and sub-branches.

Article 2. An account for deposits may be opened in their own names by foreign nationals, foreign nationals of Chinese descent, overseas Chinese
and Hongkong and Macao compatriots resident abroad or in the Hongkong and Macao regions, persons making short visit in China, foreign
personnel of foreign diplomatic and consular missions and of foreign representations stationed in China, foreign technicians, correspondents,
scholars, experts, seamen, students and trainees resident in the country, and Chinese nationals who are allowed by state regulations
to retain foreign exchange for themselves.

Article 3. Foreign exchange of the following kinds may be deposited in the aforesaid account:

(1) Foreign exchange in convertible currency remitted or brought into China from abroad or from the Hongkong and Macao regions;

(2) Where the foreign exchange brought in is in foreign bank-notes, the bank-notes shall have to be first sold to the bank at its
ruling buying rate and the proceeds converted into foreign currency at its ruling selling rate before the account can be credited.
Where a foreign currency bill is not payable immediately, the amount can be credited to the account only after collection by the
bank;

(3) Overseas Chinese remittances for buying houses;

(4) Other kinds of foreign exchange which the Bank of China has agreed to accept for deposit.

Article 4. Deposits are of two types, namely, fixed deposit and current deposit. Money can be freely credited to or withdrawn from them. Interest
shall be paid at the rate published by the Head Office of the Bank of China. The principal and interest may be remitted abroad on
maturity.

(1) A fixed deposit takes the form of a deposit certificate issued in the name of the depositor and must be established and withdrawn
in its entirety in one lump sum. Maturity may be of 3 months, half a year, 1 year or 2 years. The initial deposit must not be less
than the equivalent of RMB50. Where the interest rate changes prior to maturity, interest on the deposit shall still be paid at
the rate originally fixed at the time of deposit. If the deposit is renewed after maturity, the interest rate ruling on the date
of renewal is to apply.

(2) A current deposit takes the form of a deposit book. Withdrawals may be made at any time by presentation of the deposit book. The
initial deposit must not be less than the equivalent of RMB20.

(3) Deposits are restricted to 5 kinds of currencies, namely,the US dollar, Pound sterling, Hongkong dollar, Deutsche mark and Japanese
yen. Deposits in other currencies shall be credited to the account only after the currency concerned has been converted into one
of the aforesaid 5 currencies at the ruling exchange rate.

ARticle 5. A request for opening an account for deposits must be accompanied by a letter of application and a specimen signature. If what
is established is a fixed deposit, the bank shall issue to the depositor a fixed deposit certificate in the depositor’s name, whereas
if it is a current deposit, the bank shall issue to the depositor a deposit book. Persons resident abroad or in the Hongkong and
Macao regions may contact the bank by post and an account for deposits will be opened for them according to arrangements. In such
a case the deposit certificate or deposit book may be kept in the custody of the bank and a certificate of custody shall be issued
to the depositor.

Article 6. On maturity, a fixed deposit may be withdrawn against the deposit certificate and the specimen signature previously left with the
bank or according to a pre-arranged procedure. A current deposit may be withdrawn against the deposit book and a withdrawal slip
or according to a pre-arranged procedure.

Article 7. The Use of Deposits

(1) A deposit may be transferred abroad.

(2) A deposit may be converted into Renminbi at the ruling exchange rate to be used in China or remitted to relatives in the country
with the special privileges accorded to overseas Chinese remittances according to regulations.

(3) A deposit may be used to pay the travelling expenses of visitors in China;

(4) When a depositor leaves China, foreign banknotes may be sold to him according to circumstances upon his application and with the
approval of the bank. The currency to be remitted abroad shall, in principle, be of the same kind as that deposited. If another
kind of currency is remitted, the case shall be dealt with as where foreign exchange is bought and sold by the bank.

Article 8. If a fixed deposit is not withdrawn on maturity, the bank may renew it for another similar period.

Where withdrawal is made before maturity because of special need, the interest on the amount drawn shall be paid at the rate for current
deposits ruling on the date of withdrawal, while the amount remaining undrawn shall continue to bear interest at the rate allowed
at the time of deposit.

Article 9. In case of loss of the deposit book, deposit certificate or signature stamp (seal), the depositor shall file a written request with
the bank for stop-payment against his identification certificate or other documents originally agreed upon. Upon the bank’s approval,
a new deposit document may be issued to the depositor or a new specimen signature allowed to replace the old one. If the deposit
has been withdrawn by fraud prior to receipt by the bank of the request for stop-payment the bank shall not bear any responsibility.

Article 10. On closing an account, the depositor shall return to the bank the deposit book or deposit certificate together with other related
documents, if any.

Article 11. The bank has the responsibility for the confidentiality of the deposit of the depositor.

Article 12. These regulations are promulgated and put into force by the Head Office of the Bank of China.

III. BANK OF CHINA REGULATIONS FOR SPECIAL RENMINBI DEPOSITS

Article 1. Deposits under these regulations are handled by the Banking Department of the Head Office of the Bank of China and the bank’s domestic
branches and sub-branches.

Article 2. An account for deposits may be opened by the following bodies, enterprises, organizations and individuals:

(1) Foreign diplomatic, consular and commercial missions, organs of international bodies and offices of non-governmental organizations
stationed in China;

(2) Enterprises and organizations set up abroad or in the Hongkong and Macao regions;

(3) Enterprises operating in China with overseas Chinese capital or foreign capital or joint Chinese and foreign capital;

(4) Foreign nationals, overseas Chinese and Hongkong and Macao compatriots resident in or outside China;

(5) Chinese nationals who are allowed by state regulations retain foreign exchange for themselves.

(6) Others with the approval of the Bank of China.

Article 3. Foreign exchange of the following kinds may be converted into Renminbi at the ruling exchange rates and credited to the aforesaid
account:

(1) Remittances from abroad or the Hongkong and Macao regions in favour of a depositing unit or individual;

(2) Where the foreign exchange brought or sent into the country from abroad or from the Hongkong and Macao regions is in foreign bank-notes,
the account shall be credited only after the bank-notes have been converted into Renminbi at the ruling buying rate for foreign bank-notes.
A foreign currency bill which is not payable immediately shall be credited to the account only after collection by the bank;

(3) Other kinds of foreign exchange with the approval of the bank.

Article 4. Deposits are kept in the name of the depositor and are of two kinds, namely, current deposit and deposit book. Interest shall be
calculated at the rate for current deposits published by the People’s Bank of China. Where the depositing unit or individual requires
the use of cheques because of special need, approval must be obtained from the bank, but no interest is allowed for current deposits
using cheques. The initial deposit shall not be less than RMB 1,000 for representative bodies, enterprises and organizations, and
RMB 20 for individuals.

Article 5. To open an account, the depositor must provide the bank with an identification document a letter of application and a specimen signature
or follow procedures already agreed upon.

Article 6. The Use of Deposits

(1) The principal and interest of a deposit may be converted into foreign currency at the ruling exchange rate to be remitted abroad;

(2) Funds in a deposit may be transferred to a Renminbi account or withdrawn in Renminbi banknotes with the special privileges accorded
to overseas Chinese remittances according to regulations. The funds so transferred or withdrawn are not allowed to be re-deposited
in the account.

(3) A deposit may be transferred to another special Renminbi account kept with the bank.

The use of a deposit by enterprises operating with joint Chinese and foreign capital in China shall be in conformity with the foreign
exchange control regulations of the country.

Article 7. In case of loss of the deposit book or signature stamp (seal), the depositor must notify the bank in writing to stop payment against
an identification certificate or other documents, originally agreed upon. Upon the bank’s approval, a new deposit document may be
issued to the depositor or a new specimen signature allowed to replace the old one. If the deposit has been withdrawn by other persons
prior to receipt by the bank of the stop-payment notice, the bank shall not bear any responsibility.

ARticle 8. On closing an account, the depositor shall return to the bank the deposit book and unused cheques together with other related documents,
if any.

Article 9. The bank has the responsibility for the confidentiality of the deposit of the depositor.

Article 10. These regulations are promulgated and put into force by the Head Office of the Bank of China.

REGULATIONS OF THE SHENZHEN SPECIAL ECONOMIC ZONE CONCERNING THE MANAGEMENT OF COMMODITY HOUSE PROPERTY

Regulations of the Shenzhen Special Economic Zone Concerning the Management of Commodity House Property

(Effective Date 1984.01.23)

CONTENTS

CHAPTER I GENERAL PRINCIPLES

CHAPTER II SALE (PURCHASE) IN ADVANCE OF HOUSE PROPERTY

CHAPTER III TRANSFER OF HOUSE PROPERTY RIGHT

CHAPTER IV HOUSE PROPERTY MORTGAGE

CHAPTER V HOUSE LEASING

CHAPTER VI HOUSE PROPERTY REGISTRATION

CHAPTER VII PENALTY CLAUSES

CHAPTER VIII SUPPLEMENTARY ARTICLES

CHAPTER I GENERAL PRINCIPLES

Article 1. The present regulations are formulated in line with relevant laws land decrees of the People’s Republic of China and the
“Regulations Concerning the Special Economic Zones in Guangdong Province”, in order to strengthen the management
of commodity house property in the Shenzhen Special Economic Zone and protect the legitimate rights and interests
of house property managers and householders.

Article 2. Commodity house property mentioned in the present regulations refers to residential houses, industrial and
commercial buildings, warehouses, parking lots and other houses built independently or jointly for sale or to let by
state-owned enterprises, foreign nationals, overseas Chinese, compatriots from Hongkong, Macao and Taiwan as well
as their corporations and enterprises (hereinafter referred to as overseas firms) which have been approved by the
People’s Government of the Shenzhen Special Economic Zone of managing house property.

The term “house property right” mentioned hereinbelow refers to the ownership of houses (roofed) and the right
to the use of land occupied by the houses.

Article 3. The Shenzhen City People’s Government encourages overseas firms to engage in house property management (construction,
sales and renting of houses etc.) in the Shenzhen Special Economic Zone independently or jointly with state-owned
enterprises authorized by the Shenzhen City People’s Government to manage house property. Overseas firms are encouraged
to buy house property.

The Shenzhen City People’s Government will, in line with the relevant regulations of the state and Guangdong province
concerning Shenzhen Special Economic Zone, give proferential treatment to foreign citizens, overseas Chinese, compatriots
from Hongkong, Macao and Taiwan in their purchase of residential houses and villas in the special economic zone.

Article 4. Partners of house property joint ventures and cooperative enterprises should sign contracts on the basis of the
principles of equality and mutual benefit and of reaching unanimity through consultation.

Article 5. If the houses are built with exclusive investment, the house property right belongs to the investors.

If the houses are built through joint venture or cooperative efforts, the house property right shall be shared by
parties to the joint ventures or cooperative enterprises.

If the housing, villas and other commodity houses are purchased by natural persons or legal persons, the house property
right belongs to the buyers.

Article 6. The Shenzhen City People’s Government shall protect the house property right of householders according to law,
allow them to transfer their house property right to others (natural persons or legal persons) through sale (including
advance sale and purchase and auction), giveaway, exchange, bequeathal, inheritance and other legal acts, and
permit house property mortgage and leasing of houses.

Householders have the right to renovate and repair their houses. But if they change the structure, purpose and appearance
of the houses or expand or rebuild them, they must have the approval of the department designated by the Shenzhen City People’s
Government.

Article 7. The Shenzhen City People’s Government may requisition house property with reasonable compensation and proper arrangements
when needs in the construction of the special economic zone arise.

Article 8. House property management, transfer of house property right, house property mortgage and house leasing shall be conducted
in compliance with the laws of the People’s Republic of China and relevant laws and decrees of Guangdong Province
concerning the special economic zones.

The conclusion of contracts for the transfer of house property right, sale (purchase) in advance of house property, house property
mortgage and house leasing shall be notarized by the Shenzhen City Public Notary.

Article 9. The house property Administrative Department of the Shenzhen City People’s Government shall put commodity house property in
the special economic zone under its unified management and is responsible for the enforcement of the present regulations.

CHAPTER II SALE (PURCHASE) IN ADVANCE OF HOUSE PROPERTY

Article 10. A house property operator may sell in advance houses, but under the following conditions:

(1) The house operator has received the “Land Use Certificate” and the “House Building Permit”;

(2) House construction contracts have been signed;

(3) The house property operator has opened a special account with the bank registered in Shenzhen City for collecting
the advanced payment on his own behalf;

(4) 20% of the total budget for the present stage construction has been remitted to the bank in Shenzhen City with which
accounts have been opened.

Advance sale of jointly owned house property must have written agreements between the co-owners.

Article 11. House barter contract shall be signed before sale (purchase) in advance. The content of the contract should be decided
by the two contracting parties through consultation. It must, however, contain the following points:

(1) The names of the two contracting parties (or the names of the legal persons), addresses (or location) of the legal persons;

(2) The total floor space covered by the houses, the location (position) of the houses and their boundary lines (with
maps attached);

(3) The size (or proportion) and time limit of the land used;

(4) Purpose of house property;

(5) Price of house property;

(6) Methods of payment for advanced sales (purchase);

(7) The date or predicted date for commissioning house property;

(8) Liabilities for breach of contract;

(9) Methods of settling contract disputes and the name of the department to accept the case; and

(10) Other matters deemed necessary by both parties.

Article 12. A house property buyer must deposit his advanced payments in the bank with which the house property operator has opened
special account in accordance with Article 10 (3).

Advanced payments for house property must be used for the construction of the houses sold in advance.

The draft of the advanced payments or house property shared in common by several house operators can be made only
with the common endorsement or the endorsement by the agent commonly appointed by them.

Article 13. Upon receiving the certificate for the completion of houses, the house property operators should notify in advance house buyers
of it in good time and file an application with the House Property Administrative Department of the Shenzhen City
People’s Government for going through the formalities required for the transfer of the house property right.

CHAPTER III TRANSFER OF HOUSE PROPERTY RIGHT

Article 14. In buying and selling house property, barter contracts shall be signed by parties involved in pursuance of Article
11 of the present regulations.

In presenting his house property as gifts to others, the householder should sign with the gift receiver contracts for
giving the house property.

Article 15. The buying, selling and exchange of jointly possessed house property must have the unanimous consent of the co-owners
supported by a written agreement. The co-owners bear joint liability for the house property they have unanimously
agreed to sell or exchange.

In case no written agreement has been reached, the co-owners may sell or exchange their respective shares of the houses.

If a co-owner of the houses sells his share of the house property, the other co-owners enjoy the priority,
under equal conditions, to buy over that share.

Article 16. One of house co-owners may give away or bequeath his share of the house property to others without the prior consent
of the other co-owners.

The above provisions apply to the inheritance of jointly-owned houses properly.

Article 17. Before the house property right is transferred in accordance with item two of Article 15 and Article 16, the
co-owners must divide their house property and sign a contract thereof.

CHAPTER IV HOUSE PROPERTY MORTGAGE

Article 18. In applying for house property mortgage loans, a house property owner must go through the formalities at the bank
located in the Shenzhen Special Economic Zone and have the following prerequisites:

(1) A contract for the sale of house property has been concluded;

(2) The householder has received the “Certificate for House Property Right.”

Article 19. When house property is to be mortgaged, a contract must be concluded. The content, which should be decided by both sides
through consultation, must specify:

(1) The name of the mortgagor and the name of the mortgagee;

(2) The name, floor space, location (position) and the boundary of the houses (with maps attached);

(3) The amount of the mortgage loans and methods of payment;

(4) The interest rate of the mortgage rate of the mortgage loans;

(5) The time and the amount of loan repayment;

(6) The liability of compensation for the damage caused by the mortgagor to the house property mortgaged;

(7) Responsibility for breach of contract;

(8) The methods for settling disputes over the contract and the name of the organ to accept the case; and

(9) Other matters deemed necessary by both sides.

The mortgage can entrust the legal Advisory Office of Shenzhen City with the signing of the contract of house property
mortgage upon the strength of a letter of attorney.

Article 20. The mortgage of house property sold (purchased) in advance should follow the following procedures:

(1) The mortgagor signs a house property mortgage contract with the mortgagee;

(2) The mortgagor receives the “Certificate for House Property Right” from the House Property Administrative Department
of the Shenzhen City People’s Government upon the strength of the house property contracts.

(3) The mortgagor gives the mortgagee the “Certificate for House Property Right” for preservation and the mortgagee
should make payments according to the amount specified in the house property mortgage contract.

Article 21. Should the mortgagor fail to repay the mortgage according to the provisions of the house property mortgage contract, the
mortgagee has the right to sell the mortgaged houses by auction.

Article 22. Before auctioning the houses, the mortgagee get the mortgagor notified and set the time limit for the mortgagor
to move out. The time limit should not be less than 30 days beginning from the date when the mortgagor receives the notification.

If the mortgagor fails to move out within the set time limit, the mortgagee or his agent may apply with the people’s
court to have it implemented according to the provisions of the “Civil Procedure Law of the People’s Republic of China
(for Trial Implementation)”. The mortgagor shall be held responsible for compensating for the losses caused upon the mortgagee.

Article 23. In renting out the mortgaged houses to others, the mortgagor should get the prior approval of the mortgagee.

Article 24. The auctioning of mortgaged houses shall be conducted by the Materials and Property Management Corporation of Shenzhen
City on a commissioned basis. The mortgagee and the Shenzhen City Materials and Property Management Corporation
should sign a contract for entrusting with the auctioning of the mortgaged house property.

Article 25. The mortgagee should use the proceeds from auctioning for the purposes in the following order:

(1) To pay for all the expenses arising from the auctioning of the mortgaged houses;

(2) To pay overdue taxes;

(3) To repay the loans and interests owed by the mortgagor;

(4) The surplus after the above-mentioned payments are made should be given to the mortgagor.

If the proceeds from the auctioning is not enough to cover the payments, the mortgagee has the right to make separate claims.

Article 26. Mortgage of jointly owned house property shall be conducted in reference to provisions of Article 15.

CHAPTER V HOUSE LEASING

Article 27. Contract must be signed for house leasing (or sub-leasing) and the content of the contract, which should be decided
by both parties concerned through consultation, must contain the following points:

(1) The location (position) of the houses, floor space, decorations and fittings;

(2) The purpose of the houses;

(3) The leasing period (fixed or unfixed);

(4) The amount of rent and methods of payment;

(5) Terms and liabilities for renouncing a contract ahead of schedule;

(6) Responsibility for breach of contract; and

(7) Other matters deemed necessary by both sides.

Article 28. The period for leasing should not exceed the time limit set for the use of the land covered by the houses.

Article 29. The co-owners must reach unanimity through consultation, conclude a written agreement and assume joint liabilities
for the signing, renunciation and continuation of the house property leasing contract and sub-leasing by the lessee.

If one of the co-owners leases his own share of commonly-owned house property, the provisions of Article 17
of the present regulations shall be followed.

Article 30. A lessee may sub-lease the house to others, with prior consent of the house owner.

The time limit for sub-lease should not exceed that set in the original lease contract.

Article 31. The lessor may cancel the house leasing contract ahead of schedule in one of the following cases:

(1) When the lessor, due to unforeseeable reasons, really has the need to use the houses;

(2) When the lessee has changed the purpose of the leased houses in violation of the contract;

(3) When the lessee fails to pay rents for three months or longer than the time limit specified in the contract;

(4) When the lessee violates the provisions of Article 30 of the present regulations;

(5) When the lessee damages the houses or house facilities and refuse to do repairs or make compensation;

(6) When the houses have been proved to be in danger of collapsing due to major damages.

Article 32. The lessee may renounce the house property leasing contract in one of the following cases:

(1) When the lessee has built or bought houses and there is no need to continue the leasing;

(2) When the whole family of a lessee moves out of Shenzhen City;

(3) When the houses are in danger of collapsing due to major damages and the lessor refuses to do repairs;

Article 33. When the lessor fails within three months to rebuild the houses it has recovered in pursuance of (1) or (6) of Article
31 and has no justifiable reasons, he should compensate the lessee for the losses arising from the removal.

A lessee should compensate to the lessor for the losses when he terminates the house leasing contract before the
expiry date according to (1) and (2) of Article 32 of the present regulations.

Article 34. The original lessee has the priority to lease the house again after they have been recovered and rebuilt
according to (6) of Article 31.

Article 35. If without good reasons the lessor refuses to accept rents duly paid by the lessee according to the contractual
stipulations, the lessee may ask the Notary Public of Shenzhen City for notarization so as to free himself from the liability
for delaying the payment.

The fees spent on the afforesaid notarization shall be stopped from the house rents.

Article 36. Expenditure for repairing the houses on lease should be borne by the lessor; and if any loss has been caused deliberately
or by error on the part of lessee, the losses shall be borne by the lessee.

Article 37. When one of the parties to the leasing contract cancels the contract, he should notify the other party one month in advance
for civil houses on fixed period of leasing, two months in advance for civil houses on current lease, and six months in
advance for industrial and commercial buildings.

If the lessee refuses to move out within the set time limit after the renunciation of the lease contract, the
lessor may apply with the people’s court to have the lessee move out according to the provisions of the “Civil Procedure
Law of the People’s Republic of China (for Trial Implementation)” and the loss caused therefrom to the lessor shall be compensated
for by the lessee.

Article 38. The leasing of houses shall not hinder the transfer of house property right.

The house leasing contract remains effective after the transfer of house property right, and the old and new householders
should jointly notify the lessee in writing.

When leased houses are sold, the lessee has the priority, under the same conditions, to buy them over.

CHAPTER VI HOUSE PROPERTY REGISTRATION

Article 39. Owners or obligees of commodity house property should register their house property with the House property Administrative
Department of Shenzhen City according to the following provisions:

(1) Registration for affixing house property right: householders apply for the fixing of house property right,
receive the “Certificate for House Property Right” and go through registration procedures;

(2) Registration for property transfer: transfer of house property right should be registered by both parties involved,
except in cases of property bequeathal and inheritance which may be registered by the bequeathed or the inheritor independently
upon the strength of presentation of certificates;

(3) Registration for changes: if the house property right changes hands due to expansion, reconstruction, dismantle,
devision or merger, the householders should apply for registration and, if the changes involve other persons,
he must go through the registration procedure together with the people involved;

(4) Registration for other rights: if other rights including preference right, mortgage right, land service right
(right-of-way) are involved in the house property, the registration should be done by the obligee and the obligor.

(5) Registration for alteration: if the holding “Certificate for House Property Right” has become inconsistent with reality,
or owing to change in address and house number plates and alterations are necessary, the householder or the
obligee should apply for registration.

(6) Registration for cancellation: if, owing to ravage by natural calamities or dismantlment of the houses,
the house property right has ceased to exist or other rights involved have ceased to be effective upon the expiration
of the contractual time limit, the householders or the obligees and persons involved should apply for registration
for cancellation.

Article 40. House property registration requires the presentation of the following documents:

(1) An application form for registration;

(2) Identification card of the applicant; and

(3) All the documents for acquiring, changing and transfering house property right.

The registration for the house property right jointly possessed may be done by one of the co-owners who must have
the power of attorney and other relevant certificates produced by the other co-owners.

Article 41. House property may be registered by proxy who should produce, apart from the documents required in Article 40, notarized
documents certifying the proxy.

If the applicant is a legal person, registration may be conducted by its agent, who must submit documents certifying his
identity as an agent of the legal person.

Article 42. For householders or obligees, persons involved and agents who reside in Hongkong, Macao and Taiwan province or in foreign
countries, apart from having their house property registration documents certified by the notary public, attestation
formalities are required in accordance with the following provisions:

(1) Those living in Hongkong and Macao should go through attestation procedures at the representative office
in Hongkong of Shenzhen Special Economic Zone.

(2) Those living in Taiwan province should go through the attestation procedures upon the strength of
identification documents at the representative office in Hongkong of the Shenzhen Special Economic Zone.

(3) Those living in foreign countries should go through attestation procedures at the Chinese embassies (or
consulates) in these countries.

Article 43. Registration fees should be paid for house property registration. The rate shall be determined by the House
property Administrative Department of the Shenzhen City People’s Government.

If house property is registered by both parties, registration fees shall be borne by the party receiving the rights.

Article 44. Should the certificate for house property right received by the householder after registration be destroyed or lost, the
householder must file a report immediately to the House Property Registration Department, applying for a reissue.

Article 45. The obligee shall apply for registration within three months after he obtains the various kinds of house property
rights. Failing this within six months, the houses shall be left to the care of the House Property Administrative Department
of the Shenzhen City People’s Government. If no registration is done within three years, the house property
will be regarded as being ownerless and the House Property Administrative Department shall submit the case to the judicial
organ for disposal according to law.

Article 46. When the term for the use of the land occupied by the commodity house property expires, the owner should apply with the
Shenzhen City People’s Government for extension. If no application is filed within six months, the house (roofed)
shall be disposed of in reference to the provisions of Article 45 of the present regulations.

CHAPTER VII PENALTY CLAUSES

Article 47. Any contract signed in violation against the present regulations shall be invalid and losses arising therefrom shall
be borne by the violator.

Article 48. Those who willfully change the structure, purpose and appearance of the houses or expand or dismantle them for
reconstruction without the approval of the Shenzhen City People’s Government or the organ designated by it shall, apart
from being ordered to stop or restore the original appearance, be fined for less than 5,000 yuan Renminbi according to
the seriousness of the cases.

Article 49. For those who register house property by resorting to deception, assumption of other’s name, forgery of documents,
bribery and other unlawful means, a fine ranging from 2,000 yuan to 5,000 yuan Renminbi shall be imposed according
to the seriousness of the cases in addition to nullifying the registration. If a crime is committed in violation of the
“Criminal Law of the People’s Republic of China”, criminal responsibility shall be affixed on the person directly responsible
by the judicial organs.

Article 50. For those who fail to register the house property in due time, a fine from one to five yuan Renminbi shall be imposed for
each day overdue.

For those who fail to apply for extension of the time for the use of land after the term expires, a fine up to one per
thousand of the land use fees shall be imposed for each day overdue.

CHAPTER VIII SUPPLEMENTARY ARTICLES

Article 51. When the various legal documents pertinent to the present regulations must be available in Chinese and a foreign language,
the Chinese version should be regarded as authentic.

Article 52. The Regulations shall be put into effect from the date of promulgation.

INTERIM PROVISIONS OF THE STATE COUNCIL CONCERNING THE REDUCTION OF AND EXEMPTION FROM ENTERPRISE INCOME TAX AND CONSOLIDATED INDUSTRIAL ANDCOMMERCIAL TAX IN THE SPECIAL ECONOMIC ZONES AND THE FOURTEEN COASTAL PORT CITIES

Category	TAXATION	Organ of Promulgation	The State Council	Status of Effect	In Force
Date of Promulgation	1984-11-15	Effective Date	1984-12-01

Interim Provisions of the State Council Concerning the Reduction of and Exemption From Enterprise Income Tax and Consolidated Industrial andCommercial Tax in the Special Economic Zones and the Fourteen Coastal Port Cities

Chapter I  Special Economic Zones
Chapter II  The Economic and Technological Development Zones of the
Chapter III  The Old Urban Districts of the Fourteen Coastal Port Cities
Chapter IV  Effective Date

(Promulgated by the State Council on November 15, 1984)

In order to enable the four special economic zones, namely Shenzhen,
Zhuhai, Xiamen, and Shantou and the fourteen coastal port cities, namely
Dalian, Qinhuangdao, Tianjin, Yantai, Qingdao, Lianyungang, Nantong,
Shanghai, Ningbo, Wenzhou, Fuzhou, Guangzhou, Zhanjiang, and Beihai to expand
economic cooperation and technical exchange with foreign countries, attract
foreign capital, introduce advanced technology and accelerate the construction
of socialist modernization, companies, enterprises, and individuals from
foreign countries, Hong Kong, Macao, and other regions (hereinafter referred
to collectively as “external investors”) that invest in the above mentioned
special zones and cities by setting up Chinese-foreign equity joint ventures,
Chinese-foreign contractual joint ventures and foreign-capital enterprises
shall be accorded preferential treatment in the form of reduction of or
exemption from enterprise income tax and consolidated industrial and
commercial tax.
Chapter I Special Economic Zones

1. Chinese-foreign equity joint ventures, Chinese-foreign contractual
joint ventures and foreign-capital enterprises (hereinafter referred to as
“special zone enterprises”) established in the special economic zones
(hereinafter referred to as “special zones”) shall be subject to enterprise
income tax at the reduced rate of 15% on income from production and business
operations and other income. Of such enterprises:

(1) enterprises engaged in industry, communications and transport,
agriculture, forestry, animal husbandry and other production-oriented
industries that are scheduled to operate for a period of ten years or more,
shall, upon approval by the special zone tax authorities of applications filed
by them, be exempt from income tax for the first and second years commencing
the first profit-making year, and shall be allowed a 50% reduction of income
tax from the third through the fifth years.

(2) enterprises engaged in service trades that are scheduled to operate
for 10 years of more, if the investments of foreign investors exceed 5 million
US$, shall, upon approval by the special zone tax authorities of applications
filed by them be exempt from income tax in the first profit-making year and
shall be allowed a 50% reduction of income tax in the second and third years.

2. With respect to the local income tax imposed on the special zone
enterprises, the people’s governments of the special zones shall determine
whether preferential treatment in the form of tax reduction or exemption needs
to be granted.

3. The share of profit distributed to external investors by
Chinese-foreign equity joint ventures in special zones and remitted abroad
shall be exempt from income tax.

4. With the exception of income which is exempt from income tax in
accordance with the law, dividends, interest, rentals, royalties and other
income derived from sources within the special zones by foreign investors
having no establishments in China shall be subject to tax at a reduced tax
rate of 10%. Foreign investors that provide capital or equipment on
preferential terms or transfer advanced technology and need to be given
additional preferential treatment with regard to tax reductions or tax
exemptions shall be decided by the people’s governments of the respective
special zones.

5. With respect to goods subject to consolidated industrial and
commercial tax which are imported by the special zone enterprises prior to
the establishment of the administrative borders of the special zones,
machinery, equipment, raw materials, spare parts and fittings; means of
transport and other production materials essential for production shall be
exempt from consolidated industrial and commercial tax. Means of transport
and durable consumer goods the importation of which is restricted by the
State shall be subject to consolidated industrial and commercial tax
according to the tax law. Consolidated industrial and commercial tax shall
be imposed at one half of the stipulated tax rates on various kinds of
imported mineral oils, tobacco, alcoholic beverages, and various other kinds
of articles for daily use. Following the establishment of the administrative
borders of the special zones, various kinds of imported mineral oils, tobacco
and alcoholic beverages, shall continue to be subject to consolidated
industrial and commercial tax at one half of the stipulated tax rates; the
remaining imported goods shall all be exempt from consolidated industrial and
commercial tax. Reasonable quantities of tobacco, alcoholic beverages, luggage,
articles for daily use and settling-in articles personally carried in by
individual external investors or personal use shall be exempt from
consolidated industrial and commercial tax.

6. All products for export produced by special zone enterprises, except
for those whose export is restricted by the State and the small number of
products otherwise prescribed by the State, shall be exempt from consolidated
industrial and commercial tax.

7. Mineral oils, tobacco, alcoholic beverages and other such products
manufactured by special zone enterprises and sold within the same special zone
shall be subject to consolidated industrial and commercial tax at one half of
the tax rates stipulated in the tax laws. The people’s government of the
special zone may also decide independently products at regular or reduced
rates. Other products shall no longer be subject to consolidated industrial
and commercial tax.

8. Special zone enterprises that transport inland imported goods in
respect of which reductions of or exemptions from consolidated industrial and
commercial tax have been granted or products produced in the special zones
shall, at the time such goods are transported inland, make good such
reductions of or exemptions from consolidated industrial and commercial tax in
accordance with the provisions of the tax laws. Reasonable quantities of
luggage and articles for daily use that individuals or external investors
personally carry inland from the special zones for personal use shall be
exempt from consolidated industrial and commercial tax.

9. The income of special zone enterprises engaged in commerce,
communication and transport and service trades shall be subject to
consolidated industrial and commercial tax according to the tax rates
stipulated in the tax laws. Consolidated industrial and commercial tax shall
be imposed at the rate of 3% on income derived from banking and insurance
operations. The special zone people’s governments shall determine whether
special treatment in respect of reductions of or exemptions from consolidated
industrial and commercial tax needs to be granted to the above-mentioned
enterprises for a specified period of time during the initial period of
operations.

10. Reductions of and exemptions from enterprise income tax and
consolidated industrial and commercial tax on Chinese-foreign equity joint
ventures, Chinese-foreign contractual joint venture and foreign-capital
enterprises established in the Hainan Administrative Region of Guangdong
Province shall be implemented with reference to the relevant provisions
applying to the special zones.
Chapter II The Economic and Technological Development Zones of the
Fourteen Coastal Port Cities

1. Production-oriented enterprises organized as Chinese-foreign equity
joint ventures, Chinese-foreign contractual joint ventures and
foreign-capital enterprises (hereinafter referred to as “development zone
enterprises”) established in the economic and technological development
zones (hereinafter referred to as “development zones”) shall be subject to
enterprise income tax at the reduced tax rate of 15% on income from
production and business operations and on other income. Among these
enterprises, those scheduled to operate for a period of 10 years or more,
upon approval by the municipal tax authorities of an application filed by the
enterprise, shall be exempt from income tax in the first and second years,
commencing the first profit-making year, and be allowed a 5% reduction in the
third through the fifth years.

2. With respect to the local income tax imposed on the development zone
enterprises, the municipal people’s governments in the locations of the
development zones shall determine whether preferential treatment in the form
of tax reduction or exemption needs to be granted.

3. The share of profits distributed to external investors by
Chinese-foreign equity joint ventures in the development zones and remitted
abroad shall be exempt from income tax.

4. With the exception of income which is exempt from income tax in
accordance with the law, dividends, interest, rentals, royalties and other
income derived from sources within the development zones by external investors
having no establishments in China shall be subject to tax at the reduced tax
rate of 10%. Of such external investors, with respect to those that provide
capital or equipment on preferential terms or transfer technology which is
advanced, their preferential treatment with regard to further tax reductions
or tax exemptions shall be decided by the municipal people’s government
located in the respective development zone.

5. Building materials, production equipment, raw materials, spare parts
and fittings, components, means of transport and office supplies imported by
development zone enterprises for their own use shall be exempt from
consolidated industrial and commercial tax. Development zone enterprises
that divert for sale on the domestic market products processed from imported
raw materials, spare parts and fittings and components that were exempt from
tax shall, in accordance with the tax laws, make up consolidated industrial
and commercial tax on imported material and parts used for such products.

6. Products for export produced by development zone enterprises, other
than those whose export is restricted by the State, shall be exempt from
consolidated industrial and commercial tax; products for domestic sale shall
be taxed according to the tax laws.

7. Reasonable quantities of settling-in articles and means of transport
that are personally brought in by external business personnel who work in
development zone enterprises or reside in development zones for their own
use shall, on the basis of certificate issued by the municipal development
zone administrative committee, be exempt from consolidated industrial and
commercial tax.
Chapter III The Old Urban Districts of the Fourteen Coastal Port Cities
and the Urban Districts of Shantou, Zhuhai and Xiamen Municipalities

1. Production-oriented enterprises organized as Chinese foreign equity
joint ventures, Chinese-foreign contractual joint ventures and
foreign-capital enterprises (hereinafter referred to collectively as “old
urban district enterprises”) established in the old urban districts of the
fourteen coastal port cities and the urban district of Shantou, Zhuhai and
Xiamen municipalities (hereinafter referred to collectively as “old urban
districts”) shall, upon approval of the Ministry of Finance, be subject
enterprise income tax at the reduced rate of 15% in respect of projects which
are technology-intensive or knowledge-intensive, or in which the amount
invested by foreign investors is 30 million US$ or more and the investment
recovery period is long or which involve energy development or the construction
of communications or port facilities.

Old urban district enterprises that do not qualify for the tax reductions
prescribed in the preceding paragraph, but which involve one of the industries
listed below, may, upon approval by the Ministry of Finance, be subject to
enterprise income tax calculated at 80% of the tax rate stipulated in the tax
laws:

(1) machine manufacturing and electronics industries;

(2) metallurgical, chemical and building materials industries;

(3) light industries, textiles and packaging industries;

(4) medical apparatus and instruments and pharmaceutical industries;

(5) agriculture, forestry, animal husbandry and aquaculture industries
and the related processing industries;

(6) construction industries.

Reductions of and exemptions from enterprise income tax for old urban
district enterprises shall be dealt with according to the above-mentioned
preferential tax rates and in conformity with the time limits and scope
stipulated in the Income Tax Law of the People’s Republic of China for
Chinese-Foreign Equity Joint Ventures and the Income Tax Law of the People’s
Republic of China for Foreign Enterprises.

2. With respect to the local income tax imposed on old urban district
enterprises, the municipal people’s government shall determine whether
preferential treatment in the form of tax reduction or exemption needs to
be granted.

3. With the exception of income which is exempt from income tax in
accordance with the law, dividends, interest, rentals, royalties and other
income derived from sources within the old urban districts by external
investors not having establishments in China shall be subject to income tax
at the reduced tax rate of 10%. Of such external investors, with respect to
those that provide capital or equipment on preferential terms or transfer
technology which is advanced, their preferential treatment in regard to
further tax reductions or tax exemptions shall be decided by the municipal
people’s government.

4. Production equipment, equipment for business operations and building
materials imported as investment contributions or additional investment, as
well as means of transport and office supplies imported by old urban district
enterprises for their own use shall be exempt from consolidated industrial
and commercial tax.

5. Products for export produced by old urban district enterprises,
excluding those whose export is restricted by the State, shall be exempt from
consolidated industrial and commercial tax; products that are sold
domestically shall be taxed according to the tax laws.

6. The portion of raw materials, spare parts and fittings, components,
packaging materials and other such materials imported by old urban district
enterprises which is used in the production of export products shall be exempt
from consolidated industrial and commercial tax; the portion of imported
materials used in the production of products for domestic sale shall be taxed
in accordance with the tax laws.

7. Reasonable quantities of settling-in articles and means of transport
personally brought in by external business personnel for their own use shall,
on the basis of a certificate issued by the relevant departments of the
municipal people’s governments, be exempt from consolidated industrial and
commercial tax.
Chapter IV Effective Date

The stipulations of these Provisions concerning the reduction of and
exemption from income tax shall become effective as of the year of 1984;
the stipulations of these Provisions concerning the reduction of and
exemptions from consolidated industrial and commercial tax shall become
effective as of December 1, 1984.

PROVISIONAL REGULATIONS GOVERNING LAND USE TAX IN CITIES AND TOWNS

Provisional Regulations of the PRC Governing Land Use Tax in Cities and Towns

(Effective Date 1988.11.01)

Article 1. These Regulations are formulated to rationalize the use of land in cities and towns, to regulate the income differential
on land, to improve efficient use of land in use and to strengthen land management.

Article 2. Units and individuals which use land within the boundaries of cities, county towns, towns/bases operated under an
organisational system and industrial and mining districts shall be the obligatory payers of tax (hereinafter referred
to as taxpayers) on land used within cities and towns (hereinafter referred to as land use tax) and shall pay land
use tax in accordance with provisions of these Regulations.

Article 3. Calculation of land use tax shall be based on the actual area of land used by the taxpayer and shall be levied in
accordance with the stipulated tax rate.

The work of measuring the area of land in use as referred to above shall be determined by the respective provincial,
autonomous region or directly administered municipal people’s government in accordance with the actual circumstances.

Article 4. The annual rates for land use tax per square metre of land shall be as follows:

(1) between 5 jiao* and 10 yuan in large cities;

(2) between 4 jiao and 8 yuan in medium cities;

(3) Between 3 jiao and 6 yuan in small cities;

(4) between 2 jiao and 4 yuan in county towns, towns/bases operated under an organisational system and industrial and mining
districts.

Article 5. Based on factors such as the amount of municipal construction and the degree of economic prosperity, the various
provincial, autonomous region and directly administered municipal people’s governments shall determine appropriate
tax rate ranges for the districts under their jurisdiction from within the range of tax rates listed above.

Municipal and county people’s governments shall divide the land in their district into certain grades based on the actual
circumstances and, within the tax rate ranges determined by the provincial, autonomous region and directly administered
municipal people’s governments, shall formulate appropriate tax rate standards. Details of the rates shall be
submitted to the respective provincial, autonomous region or directly administered municipal people’s government for
approval and implementation.

Subject to approval by the provincial, autonomous region or directly administered municipal people’s government,
the land use tax rate levied in economically backward districts may be reduced appropriated, but shall not be
lowered to more than 30% below the minimum tax rate stipulated in Article 4 of these Regulations. The
land use tax rate levied in economically developed districts may be raised appropriately, but the amount
shall first be approved by the Ministry of Finance.

Article 6. Land use tax shall be exempted on the following types of land:

(1) land used by State organs, people’s organisations and the armed forces;

(2) land used by units which have their operating expenses allocated by the State’s finance departments;

(3) land occupied by religious temples and shrines, parks and places of historic interest and scenic beauty;

(4) publicly used land, such as that for municipal streets, public squares and areas of greenery;

(5) land directly used in production in the agricultural, forestry, pastoral and fishery industries;

(6) in the case of land whose reclamation from the sea or transformation from wasteland was approved, land
use tax shall be exempted for between 5 and 10 years, to be calculated from the month in which usage commences;

(7) land which the Ministry of Finance has exempted from tax in other legislation, such as land containing energy
resources or land used for transport or water conservancy facilities and other uses.

Article 7. In addition to cases provided for under the provisions of Article 6 of these Regulations, a taxpayer who has genuine
difficulty paying the prescribed land use tax may request a reduction of or exemption from the tax for a specific period.
After the provincial, autonomous region or directly administered municipal tax organ has examined and verified the circumstances
of the case, the details shall be submitted to the State Taxation Bureau for approval.

Article 8. Land use tax shall be calculated annually and paid by instalments. The time limit for payments shall be determined
by the provincial, autonomous region or directly administered municipal people’s government.

Article 9. Land use tax shall be paid on newly requisitioned land in accordance with the following provisions:

(1) if cultivated land is requisitioned, land use tax shall begin to be levied one year after the date on which approval
to expropriate the land is given.

(2) if non-cultivated land is requisitioned, land use tax shall begin to be levied the month after approval to expropriate the
land is given.

Article 10. Land use tax shall be collected by the local tax organ in the area where the land is located. Land management organs shall
provide local tax organs with information on post_titles to land use rights.

Article 11. Control of the levying of land use tax shall be handled in accordance with the provisions of the Provisional Regulations
of the People’s Republic of China governing Control of the Levying and Collection of Taxes.

Article 12. Income from land use tax shall come under financial budget control.

Article 13. The Ministry of Finance shall be responsible for interpreting these Regulations. Implementing measures
shall be formulated by the people’s governments of the various provinces, autonomous regions and directly administered
municipalities and the details shall be submitted to the Ministry of Finance for its records.

Article 14. These Regulations shall take effect from 1 November 1988 and implementation of the land use fee measures formulated
by the various districts shall be suspended simultaneously.

Source:MOFTEC

DETAILED RULES AND REGULATIONS FOR THE IMPLEMENTATION OF THE REGULATIONS ON ADMINISTRATION OF TECHNOLOGY IMPORT CONTRACTS OF THE PEOPLE’S REPUBLIC OF CHINA

IMPLEMENTATION RULES FOR THE PROVISIONAL REGULATIONS OF BEIJING MUNICIPALITY CONCERNING NEW TECHNOLOGY INDUSTRY DEVELOPMENT ZONE

China Laws

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS CONCERNING THE SUPPRESSION OF THE FALSIFICATION, COUNTERFEITING, AND ILLEGAL...

CIRCULAR OF THE GENERAL OFFICE OF THE STATE COUNCIL CONCERNING HALTING THE DEVELOPMENT OF PYRAMID RETAILING

MEASURES FOR THE CONTROL OF FIREARMS

RULES FOR THE IMPLEMENTATION OF THE EXAMINATION AND APPROVAL OF APPLICATIONS BY INDIVIDUALS FOR FOREIGN EXCHANGE

INTERIM PROVISIONS ON THE STANDARDS OF REGISTRATION FEES PAID BY CHINESE-FOREIGN EQUITY JOINT VENTURES

DOING PROCESSING, ASSEMBLING AND SMALL AND MEDIUM-SCALED COMPENSATION TRADE

REGULATIONS ON FOREIGN CURRENCY DEPOSITS AND SPECIAL RENMINBI DEPOSITS BY THE BANK OF CHINA

REGULATIONS OF THE SHENZHEN SPECIAL ECONOMIC ZONE CONCERNING THE MANAGEMENT OF COMMODITY HOUSE PROPERTY

INTERIM PROVISIONS OF THE STATE COUNCIL CONCERNING THE REDUCTION OF AND EXEMPTION FROM ENTERPRISE INCOME TAX AND CONSOLIDATED INDUSTRIAL ANDCOMMERCIAL TAX IN THE SPECIAL ECONOMIC ZONES AND THE FOURTEEN COASTAL PORT CITIES

PROVISIONAL REGULATIONS GOVERNING LAND USE TAX IN CITIES AND TOWNS

DETAILED RULES AND REGULATIONS FOR THE IMPLEMENTATION OF THE REGULATIONS ON ADMINISTRATION OF TECHNOLOGY IMPORT CONTRACTS OF THE PEOPLE’S REPUBLIC OF CHINA

IMPLEMENTATION RULES FOR THE PROVISIONAL REGULATIONS OF BEIJING MUNICIPALITY CONCERNING NEW TECHNOLOGY INDUSTRY DEVELOPMENT ZONE

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

Category	PUBLIC SECURITY	Organ of Promulgation	The State Council	Status of Effect	In Force
Date of Promulgation	1981-04-25	Effective Date	1981-04-25