ANNOUNCEMENT NO. 23, 2007 OF MINISTRY OF COMMERCE

Announcement No. 23, 2007 of Ministry of Commerce

[2007] No. 23

Mixture mentioned in the Article 7 of Provisions on the Administration of the Import and Export of Precursors and Chemicals Used
in Production of Narcotic Drugs and Psychotropic Substances (hereinafter referred to as “the Provisions”) means:

Commodity that contains one of the four precursors and chemicals used in production of narcotic drugs and psychotropic substances,
namely toluene, acetone, butanone, sulphuric acid, with a proportion of more than 40% (excluded) and commodity with a hydrochloric
acid proportion of more than 10%(excluded).

Commodity that contains other precursors and chemicals used in production of narcotic drugs and psychotropic substances, other than
the above-mentioned 5 categories, listed in the Provisions on the Administration of the Import and Export of Precursors and Chemicals
Used in Production of Narcotic Drugs and Psychotropic Substances.

Compound medicine formulation with the precursors and chemicals used in production of narcotic drugs and psychotropic substances are
not included.

When importing or exporting the above-mentioned mixture, the operators shall apply the permission in accordance with the Provisions.

Commodity that contains one of the five precursors and chemicals used in production of narcotic drugs and psychotropic substances,
namely toluene, acetone, butanone, sulphuric acid, hydrochloric acid with a proportion of no more than the above-mentioned regulations
shall not be considered as the “mixture” mentioned in the Article 7 . And the operators could apply permission without the Provisions
while importing or exporting the commodity.

Ministry of Commerce

May 16, 2007

Ministry of Commerce
2007-05-16

MEASURES FOR EVALUATING AND PROTECTING BRANDS IN THE COMMERCIAL FIELD (FOR TRIAL IMPLEMENTATION)

Circular of the Ministry of Commerce on Printing and Distributing the Measures for Evaluating and Protecting Brands in the Commercial
Field (for Trial Implementation)

Shang Fa Fa [2006] No.703

In order to implement the spirit of the 16th National Congress of the CPC and the Central Economic Working Conference of 2006 and
carry out the Outline of the Eleventh Five-year Plan for the National Economic and Social Development, the Ministry of Commerce boosts
the work of brand construction in the commercial field in an all-round way by taking Brand-oriented March as the cut-in point
and through establishing four systems, that is , evaluation, promotion, improvement and protection of brand. This is an important
measure for the Ministry of Commerce to carry out the scientific view of development in the commercial field and build an innovation-oriented
country, an inevitable choice to transfer the growth mode of trade and elevate the international competitiveness of the industries,
and an objective demand to enlarge domestic demand and improve the people’s quality of life at the same time.

Evaluation and protection of brand is an important component part of the work of brand construction in the commercial field. In order
to regulate the activities of brand evaluation in the commercial field and enhancing brand protection, the Ministry of Commerce instituted
the Measures for Evaluating and Protecting Brands in the Commercial Field (for Trial Implementation) and hereby prints and distributes
the Measures to you for your earnest compliance and implementation.

The Ministry of Commerce

January 8, 2007

Measures for Evaluating and Protecting Brands in the Commercial Field (for Trial Implementation)

Article 1

The present Measures are formulated For the purpose of promoting the transformation of trade growth mode, effectively increasing
trade efficiency, promoting the implementation of brand strategies as well as regulating and enforcing evaluation and protection
of brands in the commercial field.

Article 2

The Ministry of Commerce shall, within its scope of powers endowed by the State Council, be in charge of uniformly carrying out the
work in respect of evaluation and protection of brands in the commercial field.

Article 3

The competent administrations of commerce in each province, autonomous region, municipality directly under the Central Government,
city specifically designated in the state plan and Xinjiang Production and Construction Corps (hereinafter referred to as local competent
administrations of commerce), national industrial associations and import-export chambers (hereinafter referred to as industrial
organizations) shall be in charge of the work of applying and recommending the related brands of the local places and the same industries
under the provisions of the present Measures and carry out the work regarding promotion, improvement, protection and social investigation
of brands within their respective scope of powers.

Article 4

Evaluation of brands in the commercial field shall be based on the market performances of a brand in both domestic and overseas markets,
represent the recognition, selection, use, appraisement and feedback of its users and embody its capacities of market competition
and value creation as well as the potential of long-term development.

Article 5

Evaluation of brands in the commercial field shall take the voluntary application of an enterprise as the premise, employ the mechanism
of application by enterprises, model evaluation through model, assessment by experts, confirmation by market and issuance by governments,
as well as abide by the principles of science, impartiality, objectiveness and selection of the best.

Article 6

When applying for a brand in the commercial field, the following conditions shall be met:

(1)

the applicant enterprise is set up within the territory of China in accordance with law and legally exists, participates of its own
free will and agrees to comply with all provisions and requirements of the Ministry of Commerce concerning evaluation and protection
of brands;

(2)

the brand under application is created within the territory of China, its ownership belongs to the applicant enterprise, it has been
used for three years or more, has been registered as a trademark or has obtained the legal protection of equal validity in the major
markets domestically and overseas, and the place for its first registration as a trademark is China;

(3)

the brand under application is a brand of enterprise, product or service with relatively strong market competitiveness, influence
and fairly high popularity, whose quality has reached the leading level of China or the advanced level of the world, who has relatively
strong capacities of independent innovation and sustainable development and has obtained recognition of the market, general public
and vast number of users;

(4)

the economic and social performances of the applicant enterprise is good, both the gross incomes from sales and the brand’s capacity
of making profits (the proportion of the net profit on the sales of products and services under the brand to the gross cost for sales)
rank top in this industry;

(5)

the related brand products and services and the applicant enterprise itself comply with the provisions of the related state laws and
regulations on industry, safety, sanitation, environmental protection and social liability etc..

Article 7

The Ministry of Commerce shall carry out evaluation of brands regularly; issue a notice concerning evaluation of brand in the commercial
field in advance specifying the scope, procedures and period for the current evaluation.

Article 8

An applicant enterprise shall fill in the application papers according to the facts, supply actual, valid and integrated materials
for evidences and necessary channels for verification, and submit them to the competent administration of commerce of its locality
or to the related industrial organizations within the fixed period.

The local competent administrations of commerce or industrial organizations shall examine and verify the authenticity, validity and
integrity of the application materials of the participating brands in the current places or industries, propose its recommending
opinions and submit the application materials to the Ministry of Commerce within the provisioned time limit.

Article 9

The Ministry of Commerce may, according to the demands of the evaluation work, entrust professional institutions to conduct verification,
sorting out and comprehensive measurement and calculation on all indices and data of the participating brands, set up several expert
working groups to verify and evaluate the participating brands and entrust professional fact-finding organs and public media to carry
out social investigation on the participating brands.

Article 10

The Ministry of Commerce shall publicize the list of brands to be evaluated to the general public, grant corresponding brand post_titles
and use rights of brand marks to enterprises in accordance with the publication situation and publicize the related situation to
the general public.

Article 11

In case an enterprise, which has obtained a brand post_title as granted by the Ministry of Commerce, seriously injures the rights and
interests of the consumers, has any great quality problem or safety accident, severely impairs intellectual property right of any
other person, seriously disrupts the market order or obtains the brand post_title by illegal means such as falsification, the Ministry
of Commerce shall revoke the related brand post_title of the enterprise and may not accept its application for participating in evaluation
of brands for one to three years.

Article 12

Activities of brand evaluation in the commercial field shall accept supervision of all circles in the society. No entity or individual
may, by taking advantage of this opportunity, charge any fee against any participating enterprise or conduct any profit-making activity.

Article 13

When any organ or personnel participating in the brand evaluation work of the Ministry of Commerce conducts the evaluation work,
it/he shall follow the related provisions and procedures, and shall bear the obligation of keeping confidential the business and
technical secrets for the participating enterprises.

Article 14

Any entity or individual, when finding any violation of laws or regulations in the work of brand evaluation in the commercial field,
may complain or pick up it to the Ministry of Commerce or the local competent administrations of commerce. The complainant or informer
shall provide materials in written form, show the authentic identity and provide necessary materials for evidence.

Article 15

In case of any infringement upon the right to enterprise post_title, right to the exclusive use of a registered trademark, patent right,
copyright or any other intellectual property right of a brand granted by the Ministry of Commerce, any act of unfair competition
against a brand granted by the Ministry of Commerce or any dispute over domain name of a brand granted by the Ministry of Commerce,
it shall be dealt with under the related laws and regulations of the state.

Cooperating with the administrative departments concerned, the Ministry of Commerce shall intensify its efforts in protecting the
brands granted by the Ministry of Commerce under the provisions of the preceding paragraph and transfer any entity or individual
to the judicial authority for disposal under law, in case it/he is suspected of being involved in any crime.

Article 16

In case any import goods injures any intellectual property right of any brand granted by the Ministry of Commerce and harms the foreign
trade order, the Ministry of Commerce shall, under the Foreign Trade Law of the People’s Republic of China, take such measures as
prohibition from importation.

In case the patent right, trademark right or copyright of any brand granted by the Ministry of Commerce is injured in any economy
and technology trade exhibition, trade fair, exposition, exhibition or any other activity, the Ministry of Commerce shall, in conjunction
with the related departments, dispose it under the Measures for Protecting Intellectual Property Rights During Exhibitions.

Article 17

The Ministry of Commerce shall set up and perfect a pre-warning system for protecting overseas intellectual property rights so as
to intensify the overseas protection of the brands granted by the Ministry of Commerce.

Article 18

By cooperating with the business offices of the embassies located abroad, the Ministry of Commerce shall set up an overseas service
platform for intellectual property rights and provide service of public information consultation for the overseas protection of the
brands granted by the Ministry of Commerce.

Article 19

The Ministry of Commerce shall encourage and help enterprises to handle trademark registration, patent application or copyright registration
relevant to the brands granted by the Ministry of Commerce in other countries and regions, and shall take proper measures to support
the enterprises to protect their lawful rights and interests in other countries and regions by legal means.

Article 20

In case any intellectual property right of a brand granted by the Ministry of Commerce is injured or the brand suffers any unfair
competition, the enterprise may complain or pick up it to the related department, the local service center for protection of intellectual
property or the Ministry of Commerce. The local service center or the Ministry of Commerce shall transfer it to the related department
and keep track on and feed back the disposal of the case.

In case any intellectual property right of a brand granted by the Ministry of Commerce is injured abroad, the enterprise may response
the situation to the business office of the embassy located in this foreign country, the Ministry of Commerce or the overseas commercial
complaint service center for Chinese enterprises under the Ministry of Commerce.

Article 21

An enterprise, which obtains a brand granted by the Ministry of Commerce, shall actively carry out intellectual property construction,
increase its input in intellectual property, actively protect its lawful rights and interests, enforce management on brands and maintain
the image of the brand granted by the Ministry of Commerce.

Article 22

In case a brand granted by the Ministry of Commerce is transferred, pledged, evaluated and contributed as investment, it shall be
fairly evaluated by an evaluation organ that is correspondingly qualified and the transaction shall be reported to the Ministry of
Commerce for record within 30 days as of the conclusion of corresponding contract.

In case the actual control power of the enterprise that obtains a brand granted by the Ministry of Commerce is transferred as a result
of merger or acquisition, the related parties shall report this situation to the Ministry of Commerce.

Article 23

The brand mark as mentioned in Article 10 shall belong to the Ministry of Commerce. A brand enterprise may use this mark on the
products and services on which a brand post_title has been granted and their packages, decorations, instructions, ads, and other related
materials. Any brand mark may be forged, sold or falsely used by any entity or individual.

Article 24

In case any entity or individual charges any fee or carries out any profit-making activity in the name of brand evaluation in the
commercial field with violation of the provisions of Article 12 , the Ministry of Commerce shall warm it/him and order him/ it to
make corrections within a fixed time limit; if the circumstance is serious, the related department shall impose administrative or
criminal punishment upon him/it under law.

Article 25

In case any organ or person participating in the work of brand evaluation conducted by the Ministry of Commerce fails to abide by
the related provisions and procedures of brand evaluation with violation of the provisions of Article 13 , his/ its qualification
for participating in evaluation work shall be revoked. In case any organ or person commits any fraud for selfish purposes, abuses
the authority or neglects its/his duties, an administrative punishment shall be given to him/it under law; if a crime is constituted,
criminal liabilities shall be investigated under law.

Article 26

If a transaction of brand is not evaluated or reported to the Ministry of Commerce for record with violation of the provisions in
Article 22 , the Ministry of Commerce shall give an admonition to the violator and order the related parties to make corrections;
if the circumstance is serious, the corresponding brand post_title shall be canceled.

Article 27

In case any entity, with violation of the provisions in Article 23 , extends the use scope without authorization or uses a brand
mark granted by the Ministry of Commerce on other products, services and their packages, decorations, instructions, ads, and the
related materials, the Ministry of Commerce shall give an admonition to it and order it to make corrections within a fixed time limit;
if it fails to do so, its corresponding brand post_title shall be canceled.

In case any entity, with violation of the provisions in Article 23 , forges, sells or falsely uses any brand mark granted by the Ministry
of Commerce, the Ministry of Commerce shall give an admonition to it or impose upon it a fine of not more than 30,000 Yuan, order
it to make corrections within a fixed time limit and subject it to corresponding legal liabilities under law.

Any application for participating in brand evaluation in the commercial, which is field by an entity within two years as of the occurrence
of its illegal act, may not be accepted.

Article 28

In case any entity or individual refuses to accept the administrative punishment made by the Ministry of Commerce, it/he may apply
for administrative review under laws or initiate an administrative lawsuit before a people’s court.

Article 29

The present Measures shall enter into force as of its printing and distribution.

The Ministry of Commerce
2007-01-08

MEASURES ADMINISTERING FINANCE LEASING COMPANIES

Decree of China Banking Regulatory Commission

No. 1

The Measures for Administering Finance Leasing Companies have been adopted at the 55th chairmen’s meeting on December 28, 2006, are
hereby promulgated and shall go into effect on March 1, 2007.
Chairman Liu Mingkang

January 23, 2007

Measures Administering Finance Leasing Companies
Chapter I General Rules

Article 1

For the purpose of promoting the healthy development of the finance leasing industry of our country and strengthening the supervision
over and administration of finance leasing companies, the present Measures are constituted in accordance with the Banking Supervision
Law of the People’s Republic of China, the Company Law of the People’s Republic of China and other laws and regulations.

Article 2

The “finance leasing companies” as mentioned in the present Measures means the non-banking financial institutions mainly engaging
in the finance leasing business upon approval of China Banking Regulatory Commission (CBRC) .

The name of a finance leasing company shall include words “finance leasing”. Unless it is otherwise prescribed by any law or regulation,
no entity or individual may engage in the finance leasing business or use the words “finance leasing” in its name without approval
of the CBRC.

Article 3

The term “finance leasing” as mentioned in the present Measures means such trading activities by which the lessor leases the objects
that are obtained from the supplier in accordance with the lessee’s choice or affirmation of the object and supplier to the lessee
for the stipulated occupation or use .

The leased objects applicable to the finance leasing business shall be fixed assets.

Article 4

The term “business of sale and rent-back” as mentioned in the present Measures means such business by which the lessee sells its
self-owned articles to the lessor, meanwhile, signs a finance leasing contract with the lessor, and then rents the said articles
back from the lessor. The business of sale and rent-back is a means of finance leasing in which the lessee and the supplier are identical.

Article 5

The expression “relationship of associated parties and associated transaction ” as mentioned in the present Measures means the relationship
of associated parties and associated transaction satisfying the relevant provisions in the accounting standards for business enterprises.

Article 6

The CBRC and its dispatched institutions shall impose supervision and administration on the finance leasing companies in accordance
with law.

Chapter II Establishment, Alteration and Termination of Institutions

Article 7

For applying for the establishment of a finance leasing company, the following requirements shall be satisfied:

(1)

having contributors satisfying the requirements of the present Measures;

(2)

having the minimum registered capital as provisioned in the present Measures;

(3)

having the articles of association in line with the Company Law of the People’s Republic of China and the present Measures;

(4)

having directors and senior managers satisfying the post holding qualification requirements as specified by the CBRC, as well as qualified
staff members knowing well the finance leasing business;

(5)

having perfect systems for corporate governance, internal control, business operation and risk prevention, etc.;

(6)

having qualified business places, safety measures and other facilities in relation to business operations; and

(7)

satisfying other requirements as specified by the CBRC.

Article 8

The contributors of a finance leasing company are sorted into the principal contributors and ordinary contributors. The former means
a contributor who has contributed 50% or more of the registered capital of the finance leasing company to be set up, and the latter
means those contributors other than the principal contributors.

The principal contributor shall, as the applicant, file an application to the CBRC for the establishment of a finance leasing company.

Article 9

The principal contributor of a finance leasing company shall satisfy any of the following requirements:

(1)

a commercial bank with independent legal person status as registered at home or abroad shall also satisfy the following requirements:

its capital adequacy ratio satisfies the requirements of the finance supervisory organ in the place where the commercial bank is registered
and is not below 8%;

II.

its year-end assets for the recent one year is not below RMB 80 billion Yuan or any freely convertible currency with equivalent value;

III.

it has consecutively made profits for the recent two years;

IV.

it complies with the laws and regulations of its registration place, and has not been involved in any major case or committed any
serious illegal or irregular act within the recent two years;

it possesses good corporate governance structure and internal control mechanism as well as perfect risk management system ; and

VI.

it satisfies the other prudential requirements as specified by the CBRC.

(2)

a lease company as registered at home or abroad shall also satisfy the requirements as follows:

its year-end assets for the recent one year is not below RMB 10 billion Yuan or any freely convertible currency with equivalent value;

II.

it has consecutively made profits for the recent two years; and

III.

it conforms to the laws and regulation of its registration place, and has not been involved in any major case or committed any serious
illegal or irregular act within the recent two years.

(3)

a large-scale enterprise, which is registered within the territory of China and whose main business is to produce products fit for
finance leasing business, shall also satisfy the requirements as follows:

its year-end assets for the recent one year is not below RMB 50 billion Yuan or freely convertible currency with equivalent value;

II.

it has consecutively made profits for the recent two years; and

III.

its year-end ratio of net assets for the recent one year is not below 30%;

IV.

its incomes from main businesses account 80% or more of all its business incomes;

it possesses good credit records; and

VI.

it complies with the laws and regulations of its registration place, and has not been involved in any significant case or committed
any serious illegal or irregular act within the recent two years.

(4)

other financial institutions that are recognized by the CBRC to be the principal contributor.

Article 10

A general contributor of a finance leasing company shall conform to the related provisions of the CBRC on the investment into and
subscription of the shares of financial institutions. Any contributor satisfying the requirements for the principal contributor may
act as an ordinary contributor of a finance leasing company.

Article 11

The minimum registered capital of a finance leasing company is RMB 100 million Yuan or any freely convertible currency with equivalent
value, and the registered capital shall be the paid-in money.

The CBRC may adjust the minimum registered capital of finance leasing companies on the basis of the demand for the development of
the finance leasing business.

Article 12

The establishment of a finance leasing company covers two phases: preparatory establishment and start of business. The Chinese version
of the application materials for preparatory establishment or start of business presented by an applicant shall prevail. The acceptance
of materials and procedures for examination and approval shall be conducted in accordance with provisions on implementing administrative
licensing as prescribed by the CBRC.

Article 13

For applying for the preparatory establishment of a finance leasing company, an applicant shall submit the documents as follows:

(1)

an application form for preparatory establishment, which shall cover the name, registration place, registered capital, contributors
and their contributions and business scope, etc. of the finance leasing company to be set up;

(2)

a feasibility study report, which shall cover the market prospect analysis, future business development programs, organizational management
structures, risk control ability analysis of the company to be set up , as well as a prediction of the assets scale debts and profits,
etc. for the three years after the company starts business operations;

(3)

the (draft) of the articles of association of the finance leasing company to be set up;

(4)

the basic information on contributors, including the name, legal representative, registration place, photocopy of business license,
business situation of each contributor, as well as the capital contribution agreement. In case a contributor is an overseas financial
institution, it shall provide an opinion letter issued by the finance supervisory institution of its registration place;

(5)

annual audit reports audited by qualified intermediary institutions of the contributors for the recent two years; and

(6)

other documents as required by the CBRC to be submitted.

Article 14

After the preparatory establishment of a finance leasing company has been accomplished, the applicant shall apply for business start
and shall submit the following documents to the CBRC:

(1)

a report on preparatory establishment work, and an application form for business start;

(2)

a capital assessment certificate issued by a qualified domestic intermediary institution, and a registration letter issued by the
administrative department for industry and commerce on advance approval of finance leasing company’s name;

(3)

a shareholders brochure , and the amount and proportion of their contributions;

(4)

articles of association of the finance leasing company, which shall at least cover the name, business place, nature of institution,
registered capital, scope of business, organizational form, operation and management, termination and liquidation, etc. of the institution;

(5)

the name list, specific resumes and certification materials on post holding qualification of the senior managers to be appointed;

(6)

bylaws for the businesses to be operated, and risk control rules;

(7)

materials about the business place and other facilities in relation to business; and

(8)

other documents as required by the CBRC.

Article 15

A finance leasing company may, upon approval of CRBC, establish a branch. The specific requirements for the establishment of branches
shall be separately provisioned by the CBRC.

Article 16

The CBRC shall carry out the post holding qualification approval system to directors and senior managers of finance leasing companies.

Article 17

A finance leasing company shall report to the CBRC for approval any of the following changes:

(1)

change of name;

(2)

change of organizational form;

(3)

adjustment of business scope;

(4)

change of registered capital;

(5)

change of stock rights;

(6)

modification of articles of association;

(7)

change of registration place or business place;

(8)

change of directors or senior managers;

(9)

merger or division; or

(10)

any other matter prescribed by the CBRC.

Article 18

A finance leasing company may be dissolved upon approval of the CBRC under any of the following circumstances:

(1)

The business term as prescribed in its articles of association expires or any other cause for dissolution as specified by its articles
of association arises;

(2)

The (general) assembly of shareholders makes a resolution on dissolution;

(3)

The dissolution is required by virtue of the merger or division of the company;

(4)

The company’s business license is revoked, the company is ordered to be closed down or is canceled ; or

(5)

Any other statutory cause.

Article 19

A finance leasing company may apply to the court for bankruptcy upon approval of the CBRC under any of the following circumstances:

(1)

It can not pay its due debts, and apply for bankruptcy as initiated by itself or as required by the creditor; or

(2)

It is liquidated by virtue of dissolution or revocation, and the liquidation group finds that the assets of the finance leasing company
are not enough to pay off its debts and the company should apply for bankruptcy.

Article 20

If a finance leasing company fails to pay off its due debts and its assets are not enough to pay off all the debts or it clearly
lacks the solvency, the CBRC may apply for the reorganization or bankruptcy liquidation of this finance leasing company to the people’s
court.

Article 21

In case a finance leasing company is terminated by virtue of bankruptcy, revocation or bankruptcy announcement, liquidation shall
be handled in accordance with relevant laws and regulations of the State.

Chapter III Business Scope

Article 22

A finance leasing company may, upon approval of the CBRC, engage in all or part of the following businesses in RMB or any foreign
currency:

(1)

to conduct finance leasing business;

(2)

to absorb time deposits with the term of one year or longer from its shareholders;

(3)

to accept the guaranty bonds for lease from the lessee;

(4)

to transfer receivable payment for lease to commercial banks;

(5)

to issue financial bonds upon approval;

(6)

to conduct inter-bank lending;

(7)

to borrow money from financial institutions;

(8)

to borrow foreign exchanges from abroad;

(9)

to sell off and dispose of the scrap value of leased objects;

(10)

to conduct economic consultancy; and

(11)

other businesses as approved by the CBRC.

Article 23

Any finance leasing company is prohibited from absorbing deposits from any bank shareholder.

Article 24

If the business of a finance leasing company involves in any matter about foreign exchange control, it shall observe provisions on
foreign exchange control of the State.

Chapter IV Business Rules

Article 25

With respect to corporate governance, a finance leasing company shall set up an organizational framework mainly composed of the (general)
assembly of shareholders, the board of directors, the board of supervisors and senior managers, classify their respective duties
clearly, guarantee their independent operation and effective check and balance as well as form a scientific and efficient policy-making,
incentive and constraint mechanism.

Article 26

A finance leasing company shall, in accordance with the principles of full scale, prudence, effectiveness and independence, set up
and perfect the rules for internal control, and submit them to the CBRC or its dispatched institution for archival filing.

Article 27

The associated transaction of a finance leasing company shall, in accordance with the commercial principle, be carried out on terms
not more favorable than similar transactions conducted with non-associated parties.

Article 28

A finance leasing company shall constitute rules for managing associated transaction, which shall specifically include:

(1)

supervision over and management of associated transaction by the board of directors or the business decision-making body;

(2)

duties and personnel composition of the associated transaction control committee;

(3)

collection and management of the information about associated parties;

(4)

rules for reports, commitments, identification and confirmation of associated parties;

(5)

types, price fixing polices, examining and approving procedures and standards for associated transaction;

(6)

withdrawal system;

(7)

internal audit and supervision;

(8)

information release;

(9)

punishment measures; and

(10)

CIRCULAR OF THE NATIONAL DEVELOPMENT AND REFORM COMMISSION AND THE STATE ADMINISTRATION OF FOREIGN EXCHANGE CONCERNING THE REGULATION OF THE ARCHIVAL FILING ADMINISTRATION OF ALIENING BAD CLAIMS TO FOREIGN PARTIES BY FINANCIAL INSTITUTIONS

Circular of the National Development and Reform Commission and the State Administration of Foreign Exchange Concerning the Regulation
of the Archival Filing Administration of Aliening Bad Claims to Foreign Parties by Financial Institutions

Fa Gai Wai Zi [2007] No.254

The development and reform commissions, economy and trade commissions (economy commission) and the branch bureaus of foreign exchange
control of each province, autonomous region, municipality directly under the Central Government, city specifically designated in
the state plan and Xinjiang Production and Construction Corps.:

For the purpose of regulating the administration of foreign debts formed in the alienation of bad claims to overseas investors by
domestic financial institutions, effectively protecting the lawful rights and interests of investors, improving the disposing efficiency
of non-performing assets, actively avoiding and removing the foreign debts risks formed in the disposal process and promoting the
sound and orderly development of China’s bad assets disposal market, we hereby inform the related matters as follows:

In case a domestic financial institution assumes foreign debts resulted from its alienation of bad claims to an overseas investor,
the domestic financial institution shall report such case to the National Development and Reform Commission and the State Administration
of Foreign Exchange and put it under the administration of foreign debts according to the provisions of the Interim Measures for
Administering Foreign Debts (Order No.28 of the National Development Planning Commission, the Ministry of Finance and the State Administration
of Foreign Exchange) by analogy.

The National Development and Reform Commission shall, in collaboration with the State Administration of Foreign Exchange, administer
the foreign debts formed from the alienation of bad claims to foreign parties by domestic financial institutions in accordance with
China’s foreign debt structure, balance of payment position, scale of bad claims and the development of the disposal market.

A domestic financial institution aliening bad claims to foreign parties shall submit the plan of aliening bad claims to foreign parties
of the next year to the National Development and Reform Commission prior to November 30 of each year, which shall cover the basic
information on the existing bad claims, the bad claims it intends to alien to foreign parties in the next year and the forecasting
on the recovery of the bad claims it intends to alien.

According to the Regulation on Financial Asset Management Companies (Order No.297 of the State Council) and the related provisions
of the Ministry of Finance and China Banking Regulatory Commission, etc, a domestic financial institution shall conform to the principles
of openness, impartiality and fairness in aliening bad claims to foreign parties. Prior to an act of aliening bad claims to foreign
parties, a domestic financial institution shall publicize an explicit disposal announcement at a news media of economic or comprehensive
category at the provincial level or above. By principle, all alienations shall be conducted in public ways such as bidding, auction
and public price competition, etc, and the alienation price shall be paid off by the related overseas investors once and for all.

The bad claims to be aliened to foreign parties may not involve in any claim with the Chinese government of any level or its administrative
department as the debtor or guaranteed by it, any claim of any enterprise falling within the prohibited category of the Catalogue
of Industries for Guiding Foreign Investment or involving any industry of national security, or any other claim forbidden by laws
and regulations from being aliened to foreign parties.

No overseas investor concerned with the alienation of bad claims may viciously release information to the outside or conduct any behavior
that infringes upon China’s foreign debt service credibility, or recover debts from the Chinese government of any level or its the
administrative department in any way.

A domestic financial institution shall, within 20 workdays as of the conclusion of an agreement on aliening bad claims to foreign
parties, submit the related information (in triplicate) about the alienation of bad claims to the National Development and Reform
Commission for archival filling and send copies to the Ministry of Commerce and China Banking Regulatory Commission simultaneously.
The archival materials shall cover the following items:

(1)

circumstances about the bad claims to be aliened to foreign parties (paper principal, total amount of interest, regional distribution);

(2)

agreement on the alienation to foreign parties;

(3)

photocopy of the disposal announcement as publicized in news media;

(4)

attested registration certificate of the overseas investor, the related written commitment of the overseas investor and the documentary
evidences on the credit status and performance of the overseas investor. In case any bad claim is purchased by an overseas investor
in the form of foreign special-purpose company and it fails to abundantly testify the credit and performance situations of the overseas
investor, the documentary evidences on the holding parent company shall be presented;

(5)

notarial paper on the alienation process issued by the notary organ (brief statement on the bad claims, alienation mode, major domestic
and overseas investors that take part in the alienation, the related quotations);

(6)

legal letter issued by law firm; and

(7)

other materials as requested by the National Development and Reform Commission.

In case the National Development and Reform Commission holds that the archival filing materials are incomplete or fail to meet the
related requirements, it shall, within 5 workdays after it receives the materials, inform the related domestic financial institution
aliening bad claims to foreign parties once and for all and require it to define and make up the related explanations and documents
or adjust the content concerned. In case a domestic financial institution still fails to provide complete archival filing materials
within 20 workdays since it is notified or aliens bad claims by violating the provisions of the present Circular, the National Development
and Reform Commission shall issue a notice of refusing to archive to the domestic financial institution aliening bad claims to foreign
parties and state the reasons. The National Development and Reform Commission shall prepare an archival filing confirmation letter
to the domestic financial institution that aliens bad claims to foreign parties within 20 workdays after receiving the complete archival
filing materials.

A domestic financial institution aliening bad claims to foreign parties shall submit the related documents on the exchange issues
concerned in the alienation and the archival filing confirmation letter issued by the National Development and Reform Commission
to the State Administration of Foreign Exchange within 15 workdays after receiving the archival filing confirmation letter issued
by the National Development and Reform Commission. After the State Administration of Foreign Exchange examines and approves the exchange,
the domestic financial institution aliening bad claims shall go through exchange settlement formalities at the appointed branch bureau
of foreign exchange control, while the overseas investor accepting the bad claims or its agency shall go through the formalities
for the archival filing registration of the alienation of bad claims.

10.

In case a bad claim is disposed in manners of overseas investment, it shall be conducted according to the Interim Measures for Examining
and Approving Overseas Investment Projects (Decree No.21 of the National Development and Reform Commission) and the related provisions
on the administration of foreign exchange.

11.

The National Development and Reform Commission and the State Administration of Foreign Exchange shall cancel the archival filing confirmation
or archival filing registration of aliening bad claims to foreign parties, in case an overseas investor or a domestic financial institution
aliening bad claims to foreign parties obtains archival filing confirmation letter or conduct archival filing registration of debts
alienation by illegal means like providing false materials.

12.

In case any overseas investor viciously releases information to the outside, conducts any behavior that infringes China’s foreign
debt service credibility, engages in such illegal criminal activities as money laundering through transactions of bad claims or does
any other activity that seriously violates the present Circular, once it is ascertained, the National Development and Reform Commission
shall, in collaboration with the State Administration of Foreign Exchange, prohibit the overseas investor from purchasing any domestic
bad credit. The overseas investor shall be aliened to and punished by the judicial organ in the case of the constitution of any crime.

13.

In case an investor from Hong Kong SAR or Macao SAR, or Taiwan Region takes part in the disposal of bad claims of the inland, it shall
be governed by the present Circular by analogy.

14.

The National Development and Reform Commission and the State Administration of Foreign Exchange shall be responsible for interpreting
the present Circular. In case any previous provision conflicts with the present Circular, the present Circular shall prevail.

15.

The provisions mentioned above shall go into effect as of April 1, 2007.

National Development and Reform Commission

State Administration of Foreign Exchange

February 1, 2007

The National Development and Reform Commission, the State Administration of Foreign Exchange
2007-02-01

CIRCULAR OF THE MINISTRY OF COMMERCE ON ENTRUSTING NANCHANG ECONOMIC-TECHNOLOGICAL AREA TO EXAMINE, APPROVE AND ADMINISTER THE RELEVANT WORK ON FOREIGN-INVESTED ENTERPRISES IN SOME SERVICE TRADE SECTORS

Circular of the Ministry of Commerce on Entrusting Nanchang Economic-Technological Area to Examine, Approve and Administer the Relevant
Work on Foreign-invested Enterprises in Some Service Trade Sectors

Shang Zi Han [2007] No. 24

Nanchang Municipal People’s Government and Nanchang Economic-Technological Area,

Pursuant to Some Opinions on Further Promoting the Development Level of National Economic and Technical Development Zones (Guo Ban
Fa [2005] No. 15) as forwarded by the General Office of the State Council to the Ministry of Commerce, the Ministry of Land and Resources
and the Ministry of Construction as well as the provisions of the Ministry of Commerce on the authorized examination, approval and
administration of foreign-funded enterprises, the Ministry of Commerce has finished the archival filing, examination and approval
of the management systems of all the national economic and technological development zones and the connected network for examination
and approval of foreign capital. The related matters are hereby notified as follows:

Upon research, we hereby authorize the Management Committee of Nanchang Economic-Technological Area to be responsible for examining,
approving and administrating the foreign-funded enterprises in related service trade sectors set up inside its zone for the purpose
of encouraging and supporting the national economic and technological development zones to vigorously develop the high value-added
service industries.

The Management Committee of Nanchang Economic-Technological Area shall, in strict accordance with the laws and regulations on foreign
investments as well as the related provisions on foreign-funded enterprises of non-vessel shipping, construction, printing, construction
engineering design, road transport, commerce and international freight forwarding (see appendix), carefully examine and approve the
related foreign-funded enterprises set up within its zone, and report the related problems found in the work to the Ministry of Commerce
in a timely manner. The Ministry of Commerce shall implement the inspection of the aforesaid examination, approval and administration,
and cancel the authorization to a national economic and technological development zone which commits illegal examination and approval
during the course of authorization.

The Management Committee of Nanchang Economic-Technological Area shall conduct a good job in examination and approval, archival filing
and statistical work in strict accordance with the requirements of the Ministry of Commerce for networking and online joint annual
inspection and by taking advantage of the networking certification system for foreign-funded enterprises. The related statistical
data shall be in line with the requirements so that the Ministry of Commerce can keep informed of the situation and strengthen supervision.

Nanchang Economic-Technological Area, the management system of which needs to be improved, has not set up an independent finance department
yet. Nanchang Economic-Technological Area shall keep a close eye on and further resolve the problems in the management system, keep
a concise and efficient management system, and improve the level for examining, approving and administrating the foreign-funded enterprises.
Where any management system problem that may affect the work on examining, approving and administrating the foreign-funded enterprises
is found, this Ministry will withdraw the authorized power of examination, approval and administration immediately.

This circular shall enter into force as of the promulgation date.

Ministry of Commerce

February 12, 2007
Appendix:
Related documents on entrusting the competent provincial departments of commerce to examine, approve and Administer foreign-funded
service trade Enterprises

Circular of the Ministry of Commerce on Entrusting the Competent Provincial Departments of Commerce to Examine and Manage Foreign-funded
Non-vessel Shipping Enterprises (Shang Zi Han [2005] No. 89)

Circular of the Ministry of Commerce on Entrusting the Provincial Administrative Departments of Commerce to Examine, Approve and Administer
the foreign-funded Construction Enterprises (Shang Zi Han [2005] No. 90)

Circular of the Ministry of Commerce on Entrusting the Administrative Departments of Commerce at the Provincial Level to Examine and
Administer the Foreign-funded Printing Enterprises (Shang Zi Han [2005] No. 91)

Circular of the Ministry of Commerce on Entrusting the Administrative Departments of Commerce at the Provincial Level to Examine and
Administer the Foreign-funded Designing Enterprises for Engineering Projects (Shang Zi Han [2005] No. 92)

Circular of the Ministry of Commerce on Entrusting the Competent Provincial Departments of Commerce to Examine and Manage Some Foreign-funded
Road Transport Enterprises (Shang Zi Han [2005] No. 93)

Circular of the Ministry of Commerce on Entrusting Local Departments to Check Foreign-funded Commercial Enterprises (Shang Zi Han
[2005] No. 94)

Circular of the Ministry of Commerce about the related Issues on Entrusting National Economic and Technical Development Zones to Examine
and Approve foreign-funded Commercial Enterprises and International Freight Forwarding Enterprises (Shang Zi Han [2005] No. 102)

Measures for the Administration of Foreign-funded International Freight Forwarding Enterprises (Decree No. 19, 2005 of the Ministry
of Commerce)

Ministry of Commerce
2007-02-12

ADMINISTRATIVE MEASURES OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA FOR GOODS TEMPORARILY IMPORTED OR EXPORTED

Decree of the General Administration of Customs

No. 157

The Administrative Measures of the Customs of the People’s Republic of China for Goods Temporarily Imported or Exported, which have
been deliberated and adopted at the executive meeting of the General Administration of Customs on February 14, 2007, are hereby promulgated
and shall come into force as of May 1, 2007. The Measures of the Customs of the People’s Republic of China for the Surveillance of
Exported Exhibits as promulgated on September 20, 1976, Measures of the Customs of the People’s Republic of China for the Surveillance
of Goods Temporarily Imported as promulgated by the General Administration of Customs on September 3, 1986, Measures of the Customs
of the People’s Republic of China for the Surveillance of Imported Exhibits as promulgated by Order No. 59 of the General Administration
of Customs on February 14, 1997, and the Measures of the Customs of the People’s Republic of China for the Surveillance of Goods
Temporarily Imported or Exported under the ATA Carnets promulgated by Order No. 93 of the General Administration of Customs on December
24, 2001 shall be annulled as of the same date.

Director Mou Xinsheng

March 1, 2007

Administrative Measures of the Customs of the People’s Republic of China for Goods Temporarily Imported or Exported
Chapter I General Rules

Article 1

In order to regulate the surveillance to goods temporarily imported or exported by the customhouse, the present Measures are constituted
subject to the Customs Law of the People’s Republic of China (hereinafter referred to as the Customs Law) as well as other relevant
laws and administrative regulations.

Article 2

The present Measures shall apply to the goods that are temporarily imported or exported and that are re-exported or re-imported within
the prescribed time limit upon approval of the customhouse.

Article 3

The goods temporarily imported or exported referred to in the present Measures shall comprise:

(1)

Goods that are displayed or used at exhibitions, fairs, conferences or similar events;

(2)

Articles that are used in cultural or sports exchange activities for performance or competition;

(3)

Apparatus, equipment and articles that are used for making news report or producing a film or TV program;

(4)

Apparatus, equipment and articles that are used for conducting scientific research, teaching or medical treatment activities;

(5)

Vehicles and special types of cars that are used in such activities as listed in Subparagraphs (1) to (4) of this Paragraph;

(6)

Samples of goods;

(7)

Apparatus, equipment and articles that are used in charity activities;

(8)

Apparatus and tools that are used for the installing, debugging, testing and repairing the equipments;

(9)

Containers for goods;

(10)

Self-driving vehicles as well as the articles thereof using in traveling;

(11)

Equipment, apparatus and articles that are used in the construction of projects; and

(12)

Other goods temporarily imported or exported as approved by the customhouse.

Where any good are temporarily imported under any ATA Carnet for the Temporary Admission of Goods (hereinafter referred to as the
ATA carnet), it shall be limited to the goods as prescribed in the international conventions relating to the temporary admission
of goods, which China has acceded to.

Article 4

The goods temporarily imported are not required to submit the licensing certificate for verification, except that it is otherwise
provided for in any international convention or treaty of which China is a contracting state or to which China has acceded, or in
any law or administrative regulation of the State, or in any rule or regulation of the General Administration of Customs.

Article 5

The goods temporarily imported or exported shall be re-exported or re-imported in the original form except for the depreciation or
wear and tear because of normal use.

Article 6

An application for goods temporarily imported or exported shall be subject to the examination and approval of the customhouse directly
under the General Administration of Customs, or subject to the examination and approval of the customhouse as authorized by the customhouses
directly under the General Administration of Customs.

Article 7

The goods temporarily imported or exported shall be re-exported or re-imported within six months as of the importation or exportation.

In the case of any special circumstance under which it is necessary to extend the time limit, the ATA carnet holder or the consignee
or consignor of the goods temporarily imported or exported under the non-ATA carnet item may file an application for extend the time
limit to the local competent customhouse. The customhouse directly under the General Administration of Customs may approve the extension
of the time limit that shall not be more than three times and shall not be in excess of six months each. After the extended term
expires, the goods shall be re-exported or re-imported or the import or export formalities shall be gone through.

As for the goods temporarily imported or exported as used for the important projects of the state or for scientific research projects
of the state, and the articles in exhibitions for a term of more than 24 months, if it still needs to extend the time limit after
the expiry of the 18-month-extension period, it shall be reported to the General Administration of Customs for examination and approval
by the customhouse directly under the General Administration of Customs.

Article 8

China Chamber of International Commerce shall provide a general guaranty for goods temporarily exported under ATA carnets to the
General Administration of Customs.

Except it is otherwise stipulated, the consignees or consignors of goods temporarily imported or exported under any non-ATA carnet
shall pay the local competent customhouse a sum of security equivalent to the taxes or any other guaranty recognized by the customhouse
as required by the customhouse.

Where an exhibition is hold at a place designated by the customhouse or at a place under the surveillance of special persons as assigned
by the customhouse, no guaranty for the exhibits is required to be submitted to customhouse upon approval of the local competent
customhouse directly under the General Administration of Customs.

Article 9

Where any goods temporarily imported or exported are damaged because of any force majeure and then it may not be re-exported or re-imported
in the original form, the holder of the ATA carnet or the consignee or consignor of the goods temporarily imported or exported under
the non-ATA carnet shall report to the local competent customhouse in a timely manner. It may go through the formalities for re-exportation
or re-importation upon the certification materials as issued by the relevant department. In case of any destruction or losing the
useful value because of any force majeure, such goods may be regarded to have been re-exported or re-imported upon verification of
the customhouse.

In case of any destruction or losing the useful value because of any reason other than force majeure, the holder of ATA carnet or
the consignee or consignor of the goods temporarily imported or exported under the non-ATA carnet shall go through the customs formalities
in accordance with the relevant provisions relating to the import and export of goods.

Article 10

With respect to the goods temporarily imported or exported that are re-imported or re-exported at another place, the holder of ATA
carnet or consignee or consignor of goods temporarily imported or exported under the non-ATA carnet shall go through the re-exportation
or re-importation formalities in the customhouse at the locality of entry or exit upon the customs documents affixed with the seal
of the local competent customhouse. After the re-exportation or re-importation, the local customhouse shall handle the formalities
for verification and write-off upon the customs documents affixed with the seal of the customhouse at the locality of entry or exit.

Article 11

Except it is otherwise stipulated in the present Measures, the customhouse shall handle the administrative licensing items concerning
goods temporarily imported or exported in accordance with the procedures and time limits as prescribed in the Administrative License
Law of the People’s Republic of China and the Measures of the Customs of the People’s Republic of China on Implementing the Administrative
License Law of the People’s Republic of China.

Chapter II Examination and Approval of Temporary Importation and Exportation of Goods

Article 12

An application for the temporary importation or exportation of goods shall be submitted to the local competent customhouse.

Where any ATA carnet holder files an application for the temporary importation or exportation of goods to the customhouse, it shall
submit the original ATA carnet that is real and valid, an accurate checklist of goods, as well as other relevant commercial instruments
or certificates.

Where any consignee or consignor of goods temporarily imported or exported under non-ATA carnet files an application to the customhouse
for the temporary importation or exportation of goods, it shall submit an Application for the Temporary Importation or Exportation
of Goods (See Attachment one for format), checklist of goods temporarily imported or exported, invoice, contract or agreement, as
well as other relevant instruments as required by the customhouse.

Article 13

Where the customhouse approves the temporary importation or exportation of goods under any ATA carnet, it shall make an endorsement
on the ATA carnet, otherwise no endorsement shall be made.

After the customhouse has made a decision on approval or disapproval of an application for the temporary importation or exportation
of goods under any non-ATA carnet, it shall make and issue a Decision of the Customs of the People’s Republic of China on Approval
of Application for the Temporary Importation/Exportation of Goods (See Attachment 2 for format) or a Decision of the Customs of the
People’s Republic of China on Disapproval of Application for the Temporary Importation/Exportation of Goods (See Attachment 3 for
format).

Article 14

Where it applies for extending the time limit for the re-importation and re-exportation of goods temporarily imported or exported,
the holder of ATA carnet or consignor or consignee of goods temporarily imported or exported under non-ATA carnet shall apply for
the extension of the time limit to the customhouse that examines and approves the temporary importation or exportation of goods not
later than 30 days before the expiry of the prescribed term, and submit an Application for Extension of the Time Limit for the Goods
Temporarily Imported / Exported (See Attachment 4 format) and other relevant application materials.

Where a customhouse directly under the General Administration of Customs accepts an extension application, it shall make and issue
a Decision of the Customs of the People’s Republic of China on Approval of Application for Extension of Time Limit for Goods Temporarily
Imported/Exported (See Attachment 5 for format) or Decision of the Customs of the People’s Republic of China on Disapproval of Application
for Extension of Time Limit for Goods Temporarily Imported/Exported within 20 days as of the acceptance of the application(See Attachment
6 for format).

If a customhouse subordinate to a customhouse directly under the General Administration of Customs accepts an extension application,
it shall carry out an overall examination under the statutory conditions and procedures within 10 days as of the acceptance of application
and submit the examination opinions and a complete set of application materials to the customhouse directly under the General Administration
of Customs in a timely manner. The customhouse directly under the General Administration of Customs shall make a decision accordingly
within 10 days as of the receipt of the examination opinions.

If it is under the circumstances as described in Paragraph 3 of Article 7 in the present Measures, the ATA carnet holder or consignee
or consignor of goods temporarily imported or exported under non-ATA carnet shall submit an application to the local competent customhouse
directly under the General Administration of Customs. The customhouse directly under the General Administration of Customs shall
carry out an overall examination in accordance with the statutory conditions and procedures within 10 days as of the receipt of the
extension application and submit the examination opinions and a complete set of application materials to the General Administration
of Customs in a timely manner. The General Administration of Customs shall make a decision within 10 days as of the receipt of the
examination opinions.

Chapter III Surveillance and Administration on the Goods Temporarily Imported or Exported

Article 15

When making a declaration of goods temporarily imported or exported under the ATA carnet, the ATA carnet holder shall submit a valid
ATA carnet to the customhouse.

When making a declaration of goods temporarily imported or exported under non-ATA carnet, the consignee or consignor of the goods
shall complete a customs import/export declaration form, and submit a checklist of goods, Decision of the Customs of the People’s
Republic of China on Approval of Application for the Temporary Importation/Exportation of Goods and other relevant documents to the
customhouse.

Article 16

The organizer of an exhibition within the territory of China or organizer or exhibitor of an exhibition outside the territory of
China (hereinafter generally referred to as the organizer or exhibitor) shall submit the filing certificates or approval documents
as issued by the relevant departments, checklist of the exhibits and other relevant documents to the local competent customhouse
in order to go through the formalities for filing no later than 20 days before the importation or exportation of the exhibits.

If the exhibition is not under an administrative licensing item of the relevant department, the organizer or exhibitor shall submit
a letter of invitation, confirmation document of the exhibition booth, other certification documents as well as checklist of the
exhibits to the local competent customhouse in order to go through the formalities for filing.

Article 17

Where an exhibition is held necessarily in two or more customs areas within the territory of China, it shall go through the transit
formalities for the imported exhibits under the relevant provisions relating to the surveillance of transit. The customhouse at the
locality of final exhibition shall have the responsibilities of verifying and writing off the imported exhibits and the customhouse
at the exportation place shall handle the re-exportation formalities.

Article 18

Where it requires to extend the time limit for an exhibition, the organizer or exhibitor shall go through the relevant formalities
in the customhouse at the filing place upon the approval document on extension as issued by the original approval department before
the expiry of the exhibition period.

If an exhibition is not under an administrative licensing item of the relevant department, the organizer or exhibitor shall go through
the relevant formalities in the customhouse at the filing place upon the relevant documents before the expiry of the exhibition period.

Article 19

The organizer or exhibitor shall apply to the customhouse at the filing place for ending the case of exhibition within 30 days as
of the completion of customs clearance formalities for the exhibits temporarily imported/exported.

Article 20

The customhouse shall check and determine the total quantities and total value of the following Articles for consumption or distribution
during the period of an exhibition within the territory of China (hereinafter referred to as the exhibition articles) according to
the nature of exhibition, number of exhibitors, number of audiences and other information and shall exempt it from the import duties
and import link taxes thereof within a reasonable range:

(1)

Small samples for the exhibition, including food or beverage samples that are imported in the original packages or that are made with
loose raw materials imported;

(2)

Materials that are consumed or damaged in operating and demonstrating the machines or spare parts displayed;

(3)

Goods of low value that are consumed in the arrangement or decoration of the temporary exhibition booths;

(4)

Relevant publicity materials that are gratuitously distributed to the audience during the exhibition period; and

(5)

Archives, forms and other documents to be used at the exhibition.

The goods as listed in Subparagraph (1) of the preceding Paragraph shall meet the requirements as follows:

(1)

They are provided by the exhibitors gratuitously and exclusively distributed to the audience for use or consumption during the period
of exhibition in a gratuitous manner;

(2)

The unit price thereof is low and they are used as advertising samples;

(3)

They are not applicable for commercial purposes and the unit capacity is obviously smaller than the capacity of the smallest retail
packages;

(4)

The food or samples have not been packaged or distributed subject to Subparagraph (3) of this Paragraph, but they are actually consumed
in the exhibition.

Article 21

The relevant duty (tax) exemption provisions are not applicable for alcoholic beverages, tobacco products and fuels of the exhibition
articles.

Where any exhibition articles are subject to the licensing certificate administration of the state, the exhibitor shall submit the
relevant certificates to the customhouse and go through the import formalities.

Where the quantity of any exhibits as listed in Subparagraph (1) of Paragraph 1 of Article 20 in the present Measures is in excess
of the import limit, the excess portion shall be subject to the duties and taxes in accordance with relevant laws. Any exhibits as
listed in Subparagraphs (2), (3) and (4) of Paragraph 1 that have not been used or consumed yet shall be re-exported. In case they
are not re-exported, it shall go through the import formalities under the relevant provisions.

Article 22

Any exhibits imported shall be reserved in a surveillance area as designated by the customs during the non-display period. No exhibit
shall be moved out without approval of the customhouse. In the case of any special reason to move them out, it shall be approved
by the local competent customhouse directly under the General Administration of Customs.

Where any exhibits imported are moved out of the surveillance area as designated by the customhouse upon the approval of the customhouse,
but no guaranty is submitted to the customhouse at the time of importation thereof, a guaranty shall be submitted accordingly.

Article 23

When any personnel as assigned by the customhouse execute a surveillance task in the site of an exhibition, the sponsor or organizer
of the exhibition shall offer an office and essential office equipment in order to facilitate to handle the official affairs.

Article 24

The goods temporarily imported or exported for the sake of fairs, conferences or similar events shall be subject to surveillance
in accordance with the relevant provisions of the present Measures on the surveillance of exhibits at exhibitions.

Article 25

In case any good temporarily imported or exported is really necessary to be imported or exported, the consignee or consignor of the
said goods shall submit an application to the local competent customhouse no later than 30 days before the expiry of the time limit
for the re-exportation or re-importation and shall go through the import or export formalities under the relevant provisions upon
the approval of the local competent customhouse directly under the General Administration of Customs.

Chapter IV Management of ATA Carnets

Article 26

China Chamber of International Commerce is the institution that issues and guarantees the ATA carnets in China, it shall have the
responsibilities of issuing ATA carnets for exportation, submitting to the customhouse the electronic text in Chinese for the carnets
it issues, assisting the customhouse to distinguish whether any ATA carnets are authentic or fake, as well as paying the customhouse
the relevant duties (taxes) and pecuniary penalty incurred by any ATA carnet holder that violates the provisions concerning temporary
importation or exportation.

Article 27

The General Administration of Customs shall set up an ATA Verification and Write-off Center in Beijing Customhouse. The ATA Verification
and Write-off Center shall verify, write off, conduct the statistical work and demand a recourse of the importation and exportation
vouchers under ATA carnets, and provide importation or re-exportations certificates for goods temporarily imported or exported under
ATA carnets in light of the request of the guarantor of any member state and the relevant original vouchers, and coordinate and manage
the verification and write-off of ATA carnets of customhouses throughout the country as well.

Article 28

The ATA Verification and Write-off Center shall uniformly use the ATA Carnet Recourse Circular, ATA Carnet Verification and Write-off
Circular and ATA Carnet Advance Payment Circular (See Attachments 7, 8 and 9 for format).

Article 29

The customhouse shall only accept ATA carnets that are completed in Chinese or in English.

Article 30

If any ATA carnet is under the circumstance that it has been damaged or destructed after the importation, the ATA carnet holder shall
make a confirmation in the local competent customhouse directly under the General Administration of Customs with the new ATA carnet
as issued by the original issuing institution.

The items filled in the new ATA carnet shall be consistent with those filled in the former ATA carnet.

Article 31

Where the extension of the time period for goods temporarily imported or exported under an ATA carnet excesses the valid period of
the ATA carnet, the ATA carnet holder shall apply for renewing the ATA carnet to the original issuing institution. The renewed ATA
carnet may replace the former carnet upon confirmation of the local competent customhouse.

The renewed ATA carnet can only alter the valid period of the carnet and shall keep other items conform to those in the former carnet.
The former ATA carnet is invalidated as of the starting of the renewed one.

Article 32

In the case of the transit, transshipment or transport of goods under any ATA carnet, the customhouse shall handle the formalities
for importation or exportation upon the page for exiting or entering the territory of China in the ATA carnet.

If an ATA carnet holder needs to transport goods temporarily imported or exported through transit under any ATA carnet, the customhouse
shall handle the transit formalities upon the page for exiting or entering the territory of China in the ATA carnet.

Article 33

Where any goods temporarily imported under any ATA carnet fails to be re-exported or fails to be transported to pass the territory
of China under relevant provisions, the ATA Verification and Write-off Center shall apply for a recourse demand to China Chamber
of International Commerce. If China Chamber of International Commerce provides to the customhouse a certification that certifies
that the goods have been re-exported within the prescribed time limit or that the import formalities have been completed within nine
months as of the date of demand, the ATA Verification and Write-off Center may annul the aforesaid demand. If it fails to provide
the above-mentioned certification, China Chamber of International Commerce shall pay the duties (taxes) and pecuniary penalty to
the customhouse.

Article 34

Where any good temporarily imported under any carnet is re-exported to exiting the territory of China, if it fails to go through
the verification and writing off or the endorsement by the customhouse in China for any reason, the ATA Verification and Write-off
Center shall verify and write off the ATA carnet upon the endorsement on the ATA carnet by the customs authority of any other contracting
state that certifies that importation or re-importation of this batch of goods, or other documents as acknowledged by the customhouse
in China that can certify that this batch of goods has left China actually, as certifications certifying that the goods have been
re-exported to exiting the territory of China.

In the case of any circumstance as mentioned in the preceding Paragraph, the ATA carnet holder shall pay to the customhouse an adjustment
fee according to the relevant provisions. If the carnet holder applies for verifying and writing off the carnet upon the certification
as issued by the customs authority of any other country that certifies that the goods have left the customs area of China before
the customhouse of China issues an ATA Carnet Recourse Circular, the adjustment fee shall be exempted by the customhouse.

Chapter V Supplementary Rules

Article 35

In the case of any violation of the present Measures that constitutes smuggling, or any violation of the customs surveillance provisions,
or any other violation of the Customs Law, it shall be disposed by the customhouse under the Customs Law and the Regulation of the
People’s Republic of China on Implementing the Customs Administrative Punishment. Where any crime is constituted, it shall be investigated
for criminal liabilities.

Article 36

Where any good temporarily imported from outside the territory of China is conveyed into any bonded area, export processing area
or any other special customs surveillance area or bonded surveillance area, it shall not be deemed as re-exportation.

Article 37

The present Measures shall not apply to the importation or exportation of containers to carry goods under the surveillance of the
customs, and the importation or exportation of goods leased.

The present Measures shall not be applicable for the temporary importation or exportation of articles of foreign institutions stationed
in China or of personnel that enjoy diplomatic privileges and immunities.

Article 38

Any article temporarily imported or exported that is in excess of the reasonable quantity for self use shall be surveilled by referring
to the present Measures.

Article 39

An ATA carnet holder, consignee or consignor of goods temporarily imported or exported under any non-ATA carnet, organizer of an
exhibition, or exhibitor of an exhibition may entrust an agent to go through the relevant customs formalities. The agent shall be
required to submit an authorization as issued by the entrusting party to the customhouse if so.

Article 40

Definitions of the relevant terms referred to in the present Measures:

Exhibitions, fairs, conferences and similar events means:

(1)

Trade, industrial, agricultural, arts and crafts exhibitions, as well as fairs and expositions;

(2)

Exhibitions or conferences that are organized for the purpose of charity;

(3)

Exhibitions or conferences that are organized in order to promote scientific and technological, educational, cultural or sports exchange
activities, or develop activities of tourism or folk friendship;

(4)

Conferences of the representatives of international organizations or international groups; and

(5)

Memorial conferences of representatives as organized by governments.

Non-public exhibitions that are organized at stores or other business places for the purpose of selling foreign goods are not within
the category of exhibitions, fairs, conferences or similar events referred to in the present Measures.

The exhibits are:

(1)

Goods displaying at exhibitions;

(2)

Goods used in demonstrating the machines or devices to be displayed at exhibitions;

(3)

Architecture materials and decoration materials for arranging temporary booths; and

(4)

Films, slides, video tapes, recording tape, instructions, advertisements, CDs, display equipment for advertising goods to be displayed;
and

(5)

Other goods to be used for displaying at exhibitions.

The local competent customhouse means the customhouse at the locality where an exhibition, fair, conference or similar event within
the territory of China is organized or the customhouse at the locality where the goods enter or exit China.

Article 41

The time limits for the customhouses to implement customs administrative licensing as prescribed in the present Measures shall be
calculated by workdays, excluding legal holidays.

Article 42

The present Measures shall be subject to the interpretation of the General Administration of Customs.

Article 43

The present Measures shall come into force as of May 1, 2007. The Measures of the Customs of People’s Republic of China on the Surveillance
of Exported Exhibits promulgated on September 20, 1976, Measures of the Customs of the People’s Republic of China for the Surveillance
of Goods Temporarily Imported promulgated by the General Administration of Customs on September 3, 1986, Measures of the Customs
of the People’s Republic of China for the Surveillance of Imported Exhibits promulgated by Order No. 59 of the General Administration
of Customs on February 14, 1997 and Measures of the Customs of the People’s Republic of China for the Surveillance of Goods Imported
or Exported under ATA Carnets promulgated by Order No. 93 of the General Administration of Customs on December 24, 2001 shall be
annulled as of the same date.

Attachments:

I. Application for the Temporary Importation or Exportation of Goods (omitted)

II. Decision of the Customs of the People’s Republic of China on Approval of Application for the Temporary Importation/Exportation
of Goods (omitted)

III. Decision of the Customs of the People’s Republic of China on Disapproval of Application for the Temporary Importation/Exportation
of Goods (omitted)

IV. Application for Extension of the Time Limit for the Goods Temporarily Imported / Exported (omitted)

V. Decision of the Customs of the People’s Republic of China on Approval of Application for Extension of Time Limit for Goods Temporarily
Imported/Exported (omitted)

VI. Decision of the Customs of the People’s Republic of China on Disapproval of Application for Extension of Time Limit for Goods
Temporarily Imported/Exported (omitted)

VII. ATA Carnet Recourse Circular (omitted)

VIII. ATA Carnet Verification and Write-off Circular (omitted)

IX. ATA Carnet Advance Payment Circular (omitted)

General Administ

ANNOUNCEMENT ON THE SECOND NEGOTIATED BIDDING OF TEXTILES EXPORTED TO EU & THE USA OF 2007

Announcement on the Second Negotiated Bidding of Textiles Exported to EU & the USA of 2007

In accordance with the regulations in the Measures for Administration on Textile Export (Provisional) (hereinafter referred to as
the Measures) , Category 4, Category 5, Category 6, Category 7, Category 26, Category 31 exported to EU and Category 338/339, Category
340/640, Category 347/348, Category 349/649, Category 638/639, Category 647/648 and Category 847 exported to the USA in 2007 shall
implement negotiated bidding. Matters of concern are listed as follows:

Negotiated Bidding Gross in 2007 and the Amount of Second Negotiated Bidding

See Appendix 1 for the specific amount of Second Negotiated Bidding in 2007. With Romania and Bulgaria’ s official entry into the
EU on January 1st, 2007, the contract number of the 10 categories of textiles and clothing products exported to EU in 2007 is raised.

Negotiated Bidding Qualification and Available Amount

Qualification: The scaled enterprises with export achievements of the above-mentioned categories could participate this bidding.

Available Amount:

USA: In accordance with 2006 achievement got from export to USA and Article 11 and Article 12 of the Measures, get the available
amount of 2007, then deduct the bid-winning amount in the first bidding and get the available amount of this negotiated bidding.

EU: In accordance with 2006 achievement, of every enterprises, got from export to 25 member states of EU and Article 11 and Article
12 of the Measures, get the available amount of 2007.

The export achievement of Romania and Bulgaria shall not be included in the achievements of non-limited states (regions).

See Appendix 1 for the detailed minimum bidding amounts.

The Export Achievement

The export achievement of enterprises shall be calculated in accordance with Article 9 of the Measures.

Besides, bidding qualification auditing, export achievement auditing shall be conducted.

The available amount (maximum bidding amount) of the enterprises shall be promulgated online at www.mofcom.gov.cn, www.ccct.org.cn
or www.ec.com.cn on about April 2nd to April 6.

The Second Negotiated Bidding shall adopt the electronic bidding mode. The Electronic Bid Documents shall be submitted to the Bidding
Office between 9am of April 9 and 9pm of April 12. And the full amount of bid bond of the enterprises shall be submitted to the designated
bank.

The primary bid-winning matters shall be promulgated at www.ccct.org.cn on April 23. The formal bid-winning results shall be promulgated
at www.mofcom.gov.cn.

All the local departments of commercial administration shall be responsible for this negotiated bidding. Related policies and information
shall be promulgated at www.mofcom.gov.cn, www.ccct.org.cn and www.ec.com.cn.

Tel of the Bidding Office: 010-67739327, 67739213, 67739208

Fax: 010-67719297

Tel of China International Electronic Commerce Centre: 010-67870108

Fax: 010-67800343

Appendix:

Amount, Price and Minimum Bidding Amount of Negotiated Bidding

Export Achievement List of Enterprises (Customs Stat.)

Export Achievement List of Enterprises (Adjusted)

Achievement List of Enterprises on the Export to Romania and Bulgaria

Operation Guidance on Electronic Bidding Technology

Ministry of Commerce

March 13, 2007

The Binding Committee of the Ministry of Commerce for Exporting Textiles
2007-03-13

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON RELATED MATTERS CONCERNING OFFSET OF THE INPUT AMOUNT OF VAT TAX ON GOODS IMPORTED BY TAXPAYERS

Circular of the State Administration of Taxation on Related Matters Concerning Offset of the Input Amount of VAT Tax on Goods Imported
by Taxpayers

Guo Shui Han [2007] No. 350

The Bureaus of state taxation in each province, autonomous region, municipality directly under the Central Government, and city specifically
designated in the state plan:

Recently we received a question from some areas: whether or not the money returned or refunded by an overseas supplier to a domestic
importer or the difference occurs because the actual payment for any imported goods is lower than the declared import price should
be transferred out as an import tax amount after the taxpayer declares the import goods. The related matters are hereby specified
as follows:

It is provided in Article 8 of the Interim Regulation of the People’s Republic of China on Value Added Tax that the value added tax
(VAT) on the tax payment voucher obtained by a taxpayer from the customs office may be credited against the output tax amount. Therefore,
the tax payment voucher a taxpayer acquires from the customs for its imported goods is the unique proof of the computation of the
VAT input tax amount, and the price difference as well as the money returned or refunded by an overseas supplier may not be transferred
out as input tax amount.

Where a taxpayer has transferred out the aforesaid money or price difference as input tax amount before the announcement of this Circular,
it may be re-included under the item of “Payable tax – Payable VAT – Input Tax Amount” and be credited against output tax amount.

The State Administration of Taxation

March 22, 2007

The State Administration of Taxation
2007-03-22

ANNOUNCEMENT NO.34, 2007 OF MINISTRY OF COMMERCE, PROMULGATING ANNOUNCEMENT ON QUALIFICATION EXAMINATION AND APPROVAL OF THE SECOND PUBLIC BIDDING OF LIGHT AND HEAVY BURNED MAGNESIUM, FLUORITE, TALC, BAUXITE, CARBORUNDUM, LIQUORICE AND LIQUORICE PRODUCTS IN 2007

Announcement No.34, 2007 of Ministry of Commerce, Promulgating Announcement on Qualification Examination and Approval of the Second
Public Bidding of Light and Heavy Burned Magnesium, Fluorite, Talc, Bauxite, Carborundum, Liquorice and Liquorice Products in 2007

[2007] No.34

In accordance with regulations of the Public Bidding Measures on Quota of Export Commodities and Detailed Implementation Regulations
of Public Bidding on Industry Products Export Quota, related issues on export quota of industrial products of the second public bidding
in 2007 are now announced as follows:

Commodity

Light and heavy burned magnesium, fluorite, talc, bauxite, carborundum, liquorice and liquorice products (please refer to appendix
1 for specific commodity tariff code).

Time for pubic bidding

As from May 2007, Ministry of Commerce committee of export commodity quota tendering will launch the second public bidding on export
quota of above commodities. The announcement on the bidding will be release on International Business Daily, website of Ministry
of Commerce and website of China International Electronic Commerce.

Examination and approval procedures of the second public bidding in 2007

Please refer to Announcement No.84, 2006 of Ministry of Commerce for standards on qualifications of bidding enterprises of the second
public bidding of light and heavy burned magnesium, fluorite, talc, bauxite, carborundum, liquorice and liquorice products.

(1)

. Preliminary examination;

Departments of all provinces, autonomous regions, municipalities, cities specially designated in the state plan and Xinjiang Production
and Construction Corps are in charge of the preliminary examination of the local enterprises; China Chamber of Commerce of Metals
Minerals & Chemicals Importers & Exporters and China Chamber of Commerce for Import & Export of Medicines & Health
Products (hereinafter referred to as “bidding office”) are in charge of preliminary examination of enterprises directly under administration
of the central government;

Enterprises with export and supplying performance of above commodities may apply for the preliminary examination;

Departments of commercial administration and bidding offices shall examine and approve in line with related regulations.

(2)

. Review

Related bidding offices are responsible for review of bidding enterprises;

Local departments of commercial administration shall inform enterprises that pass the preliminary examination to put forward related
date and materials to bidding offices;

Bidding offices shall report the result of review to tendering committee before May 18, 2007;

Tendering committee shall examine and approve above materials for review and release announcement.

As regards technical support of internet bidding, please contact with China International Electronic Commerce Center.

Appendix:

Customs Code of the Commodity

Application Form for Bidding Enterprises

Form on Statistics on Qualifications of Bidding Enterprises

Ministry of Commerce

Apr 10, 2007

Ministry of Commerce
2007-04-10

ANNOUNCEMENT OF THE PEOPLE’S BANK OF CHINA CONCERNING EXPANDING THE FLOATING RANGE OF TRADING PRICE OF THE US DOLLAR AGAINST THE RMB IN THE INTER-BANK SPOT FOREIGN EXCHANGE MARKET

Announcement of the People’s Bank of China concerning Expanding the Floating Range of Trading Price of the US Dollar against the RMB
in the Inter-bank Spot Foreign Exchange Market

The People’s Bank of China determined to expand the floating range of the trading prices of the US Dollar against the RMB in the inter-bank
spot foreign exchange market for the purpose of further improving the regulated and managed floating exchange rate systemon the basis
of market supply and demand and by referring to a basket of currencies, promoting the development of foreign exchange market, and
improving the independent pricing and risk management capacity of financial institutions. The related particulars are hereby rendered
as follows:

The floating range of the trading prices of the US Dollar against the RMB in the inter-bank spot foreign exchange market will be expanded
from 0.3% to 0.5% as from 21May 2007, viz. the daily trading price of the US Dollar against the RMB in the inter-bank spot foreign
exchange market may be floated within the range of 0.5% of the middle price of the US Dollar against the RMB on the current day as
announced by China Foreign Exchange Center to the outside.

After the publication of this Announcement, the measures for the administering the floating range of trading price of the US Dollar
against the RMB in the inter-bank spot foreign exchange market and the spread of US Dollar exchange rate quotation of the banks to
their clients will not be changed, and the Circular concerning Further Improving the Administration of Trading Exchange Rates in
the Inter-bank Foreign Exchange Market and the Exchange Rate Quotations of Foreign Exchange Designated Banks (Yin Fa [2005] No. 250)
as promulgated by the People’s Bank of China on 23 September, 2005 is still applicable thereto.

The People’s Bank of China will, in light of the domestic and international economic and financial tendencies, on the basis of market
supply and demand and by reference to a basket of currencies, maintain the normal floating of RMB exchange rates, keep the RMB exchange
rates at a reasonable and balanced level, promote a basic balance of international payments, and guarantee the stability of macro-economy
and financial market.

People’s Bank of China

May 18, 2007

People’s Bank of China
2007-05-18

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Federal Acts

Act on Proceedings in Family Matters and in Matters of Non-contentious Jurisdiction

Act on Occupational Physicians, Safety Engineers and Other Occupational Safety Specialists

ANNOUNCEMENT NO. 23, 2007 OF MINISTRY OF COMMERCE

MEASURES ADMINISTERING FINANCE LEASING COMPANIES

CIRCULAR OF THE NATIONAL DEVELOPMENT AND REFORM COMMISSION AND THE STATE ADMINISTRATION OF FOREIGN EXCHANGE CONCERNING THE REGULATION OF THE ARCHIVAL FILING ADMINISTRATION OF ALIENING BAD CLAIMS TO FOREIGN PARTIES BY FINANCIAL INSTITUTIONS

CIRCULAR OF THE MINISTRY OF COMMERCE ON ENTRUSTING NANCHANG ECONOMIC-TECHNOLOGICAL AREA TO EXAMINE, APPROVE AND ADMINISTER THE RELEVANT WORK ON FOREIGN-INVESTED ENTERPRISES IN SOME SERVICE TRADE SECTORS

ADMINISTRATIVE MEASURES OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA FOR GOODS TEMPORARILY IMPORTED OR EXPORTED

ANNOUNCEMENT ON THE SECOND NEGOTIATED BIDDING OF TEXTILES EXPORTED TO EU & THE USA OF 2007

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON RELATED MATTERS CONCERNING OFFSET OF THE INPUT AMOUNT OF VAT TAX ON GOODS IMPORTED BY TAXPAYERS

ANNOUNCEMENT NO.34, 2007 OF MINISTRY OF COMMERCE, PROMULGATING ANNOUNCEMENT ON QUALIFICATION EXAMINATION AND APPROVAL OF THE SECOND PUBLIC BIDDING OF LIGHT AND HEAVY BURNED MAGNESIUM, FLUORITE, TALC, BAUXITE, CARBORUNDUM, LIQUORICE AND LIQUORICE PRODUCTS IN 2007

ANNOUNCEMENT OF THE PEOPLE’S BANK OF CHINA CONCERNING EXPANDING THE FLOATING RANGE OF TRADING PRICE OF THE US DOLLAR AGAINST THE RMB IN THE INTER-BANK SPOT FOREIGN EXCHANGE MARKET

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