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

PROVISIONS FOR ADMINISTERING NATIONAL INTER-BANK BOND MARKET MAKERS

Announcement of the People’s Bank of China

[2007] No.1

With a view to perfecting the system of national inter-bank bond market makers, improving market liquidity, enhancing market price
discovery and promoting the development of China’s bond market, the People’s Bank of China formulated the Provisions for Administrating
National Inter-bank Bond Market Makers. They are hereby promulgated.
The People’s Bank of China

January 9, 2007

Provisions for Administering National Inter-bank Bond Market Makers

Article 1

In accordance with the Law of the People’s Republic of China on the People’s Bank of China, the present Provisions are enacted with
a view to regulating the market making business operated by national inter-bank market makers, improving market liquidity, perfecting
the price discovery mechanism and promoting the rapid development of China’s bond market.

Article 2

The term “market maker” as mentioned in the present Provisions means the financial institutions that conduct the market making business
in the inter-bank market upon the approval of the People’s Bank of China, enjoy the provisioned rights and assume the corresponding
obligations.

Market making business means an act that a market maker, in accordance with the relevant requirements, consecutively makes bilateral
quotations for the purchase and sale of the existing market making bonds in the inter-bank market, and then transacts with other
market participants on the basis of its quotations.

Article 3

To be a market maker, a financial institution set up within the territory of the People’s Republic of China in accordance with law
shall meet the conditions as follows:

(1)

its registered capital or net capital shall be 1.2 billion Yuan or more;

(2)

it shall be active in the market and its trading amount of existing bonds for the previous year shall rank top 80 when it lodges the
application;

(3)

it shall have tried to conduct the market making business in the inter-bank market and have possessed necessary experience and ability
before it lodges an application;

(4)

it shall own perfect interior control system, operation instruction and sound mechanism of interior risk control and incentive and
examination mechanism;

(5)

it shall own a considerably strong ability to study and analyze the bond market;

(6)

there are five or more employees qualified for conducting bond business in the business department concerned, the posts are reasonably
set and the duties are well clarified;

(7)

it shall have no record of grave violation of any law or regulation in the recent two years prior to its application; and

(8)

other conditions as specified by the People’s Bank of China.

Article 4

To be a market maker, a financial institution shall present the following materials to the People’s Bank of China:

(1)

an application form;

(2)

its Business License (copy of the duplicate);

(3)

its Finance License (copy of the duplicate);

(4)

its interior control system and operational instruction for the market making business;

(5)

a brief introduction on the related business department (inclusive of personnel structure, post establishment, duty division and so
on.);

(6)

a report on its activities in the inter-bank market in the recent two year prior to its application (inclusive of the summary of its
try in market making business);

(7)

the balance sheets, profit appropriation statements and cash flow statements (copies) of the recent two years before it submits the
application which have been audited by certified public accountants,;

(8)

a written statement on the fact that it has no record of grave violation of any law or regulation in the recent two years prior to
its application; and

(9)

other materials as requested by the People’s Bank of China.

A financial institution shall hold responsibility for the authenticity, accuracy and integrity of the materials it presents and there
shall be no false record, misleading statement or major omission.

Article 5

After receiving the application of a financial institution, the People’s Bank of China shall carry out examination and approval according
to the procedure as specified in the Measures for Implementing the Administrative Licensing by the People’s Bank of China (Decree
No.3, 2004 of the People’s Bank of China).

Article 6

A market maker may be enpost_titled to:

(1)

obtain the convenience to purchase bonds in the primary market;

(2)

have priority to become a member of the underwriting syndicates for the government bonds or the bonds of governmental development
financial institutions, or a primary dealer for open market business;

(3)

have the advantage for making bond debit and credit;

(4)

enjoy the policy support in terms of making product innovation in the inter-bank market;

(5)

as regards the transaction of existing bonds or bond debit and credit conducted through the market making business, to enjoy preferences
in commission charges for both transaction and settlement; and

(6)

have the advantage for obtaining such information as the real time quotation data and transaction data provided by the National Inter-bank
Funding Center (hereinafter referred to as Funding Center).

Article 7

A market maker shall fulfill the obligations as follows:

(1)

the total number of varieties of market making bonds it has decided shall be no less than six and the varieties finally decided shall
cover the following three: namely, government bonds, bonds of governmental development financial institutions and non-governmental
debenture bonds;

(2)

the compensation terms of market making bonds shall include at least 4 of the 5 terms namely 0-1 year, 1-3 years, 3-5 years, 5-7 years
and more than 7 years;

(3)

once a market maker decides the varieties of market making bonds, it mustn’t alter them on the current day, and shall make consecutive
bilateral quotations on the selected varieties, and the time gap between bilateral quotations shall not exceed 30 minutes; and

(4)

the minimum volume of quotation of a single transaction shall be the par value of RMB 1, 000, 000 Yuan.

In case any market maker is unable to perform any obligation as mentioned above by virtue of unusual circumstance, it shall report
to the People’s Bank of China in a written form and explain the reasons in a timely manner.

Article 8

A market maker shall, on the basis of the actual price, make bilateral quotations, whose price gap shall fall within the reasonable
scope of the market.

Article 9

A market maker shall, within 10 workdays upon the end of each season, present the People’s Bank of China a written analysis of the
bond market and its bond transaction and market making situation of this season.

Article 10

A market maker may not manipulate the market. If it does so and causes any loss to the investors, it shall undertake the liability
for compensation in accordance with law.

Article 11

The self-discipline organization of the inter-bank market shall, through information platforms such as the website of the People’s
Bank of China every half a year, publicize the following related market-making circumstances of market makers: the number of the
varieties of market-making bonds, the total amount of market-making quotations and information about the market-making transactions,
etc.

Article 12

The self-discipline organization of the inter-bank market shall evaluate the market-making business of the market makers on a regularly
basis, and the evaluation results shall be circularized through such information platform as the website of the People’s Bank of
China.

The People’s Bank of China shall adjust market makers in accordance with the evaluation results.

Article 13

In case a market maker engages in market-making business or a non-market maker tries to engage in market-making business, it shall
conduct through the trading system of the Funding Center, which shall consummate its trading system to provide technical support
for the conduction of market-making business.

Article 14

The Funding Center shall set down operational instruction for the market-making business according to the present Provisions, which
shall be implemented after being reported it to the People’s Bank of China for archival filling.

The Funding Center and China Government Securities Depository Trust & Clearing Co., Ltd. shall set down the detailed rules on
commission charge preference for the transactions of existing bonds and transactions of bond debit and credit as conducted by market
makers through market making business, which shall be implemented after being reported to the People’s Bank of China for archival
filling.

Article 15

The market making business of market makers shall be subject to the examination and supervision of the People’s Bank of China.

Article 16

In case any market maker or any other institution violates any provision of the present Provisions, the People’s Bank of China shall
punish it according to the provisions of Article 46 in the Law of the People’s Republic of China on the People’s Bank of China.

Article 17

The People’s Bank of China shall be responsible for the interpretation of the present Provisions.

Article 18

The present Provisions shall go into effect as of February 1, 2007. The Circular of the People’s Bank of China Concerning Matters
on Regulating and Supporting the Bilateral Quotation Business in the Inter-bank Bond Market ([2001] No.75) and the Circular of the
Monetary Policy Department of the People’s Bank of China Concerning the Adjustment of the Maximum Price Gap and Minimum Amount of
Quotations made by Bilateral Quotation Makers (Yin Huo Zheng [2002] No.43) shall be concurrently repealed.

The People’s Bank of China
2007-01-09

MEASURES FOR ADMINISTERING TRUST COMPANIES

Decree of the China Banking Regulatory Commission

No.2

The Measures for Administering Trust Companies have been adopted at the 55th chairmen’s meeting on December 28, 2006. They are hereby
promulgated and shall go into effect as of March 1, 2007.
Chairman of the China Banking Regulatory Commission: Liu Mingkang

January 23, 2007

Measures for Administering Trust Companies
Chapter I General Provisions

Article 1

In accordance with the Trust Law of the People’s Republic of China, the Banking Supervision Law of the People’s Republic of China
and other laws and regulations, the present Measures are formulated with a view to intensifying the supervision and management of
trust companies, regulating the business operations of trust companies and promoting the sound development of trust industry.

Article 2

The term “trust company” as mentioned in the present Measures means the financial institutions set up according to the Company Law
of the People’s Republic of China and the present Measures and mainly conduct the trust business.

The term “trust business” as mentioned in the present Measures means the trust companies’ business operations that the trust company
commits to trust and handle trust affairs under fiduciary capacity in order to run business and obtain remunerations.

Article 3

The trust property may not belong to the trust company’s inherent property, or the trust company’s liabilities for the beneficiaries.
The trust property may not be a part of the trust company’s property to be liquidated when the company is terminated.

Article 4

A trust company shall, when engaging in trust activities, comply with laws and regulations and the stipulations in trust documents,
may not infringe upon national interests, public interests or the lawful rights and interests of the beneficiaries.

Article 5

China Banking Regulatory Commission shall take charge of supervising and administering trust companies and business activities thereof.

Chapter II Establishment, Alteration and Termination of Trust Institutions

Article 6

When establishing a trust company, the form of a limited liability company or a company limited by shares shall be adopted.

Article 7

When establishing a trust company, the approval of China Banking Regulatory Commission shall be obtained and a financial license
shall be obtained.

No entity or individual may conduct any trust business and no business entity may use the term “trust company” in its corporate name
until the approval of China Banking Regulatory Commission is obtained, except it is stipulated otherwise by any law or regulation.

Article 8

As regards setting up a trust company, the following conditions shall be met:

(1)

possessing the articles of association, which comply with the provisions of the Company Law of the People’s Republic of China and
those of China Banking Regulatory Commission;

(2)

possessing shareholders, which are qualified for purchasing shares as provisioned by China Banking Regulatory Commission;

(3)

possessing the minimum registered capital as provisioned by the present Measures;

(4)

possessing directors, senior mangers and trust employees suitable for their business, who are qualified for holding corresponding
post as prescribed by China Banking Regulatory Commission;

(5)

possessing a sound organizational structure, instructions for operating trust business and a system of risk control;

(6)

possessing a business place as required, safety measures and other business-related facilities;

(7)

other conditions as prescribed by China Banking Regulatory Commission.

Article 9

China Banking Regulatory Commission shall examine an application for establishing trust company in accordance with the relevant laws
and regulations and the principle of prudent supervision, and make a decision on whether to approve it or not. In case it decides
to disapprove the application, the reasons shall be specified.

Article 10

The minimum registered capital of a trust company shall be 300 million Yuan or the equivalent convertible currency, and the registered
capital shall be monetary and paid-in.

When applying for conducting such businesses as enterprise annuity fund, securities underwriting and asset securitization, etc, the
requirements on minimum registered capital prescribed by related laws and regulations shall be met.

China Banking Regulatory Commission may, in light of the needs of development of trust company industry, adjust the minimum amount
of trust companies’ registered capital.

Article 11

No trust company may set up any branch institution either directly or in any disguised form without the approval of China Banking
Regulatory Commission.

Article 12

A trust company shall obtain the approval of China Banking Regulatory Commission under any of the following circumstances:

(1)

to change its name;

(2)

to change its registered capital;

(3)

to change its domicile;

(4)

to change the organization form;

(5)

to adjust its business scope;

(6)

to change any director or senior manager;

(7)

to change any shareholder or adjust equity structure, except for holding the circulated shares of a listed company less than 5% of
the total shares of the company;

(8)

to revise its articles of association;

(9)

to merger or divide;

(10)

other circumstances as stipulated by China Banking Regulatory Commission.

Article 13

In case a trust company applies for dissolution owing to division, merger or any other cause for dissolution as stipulated in the
articles of association, it shall dissolve upon the approval of China Banking Regulatory Commission and organize liquidating group
to conduct liquidation in accordance with law.

Article 14

In case a trust company can not pay off its due debts and does not possess enough assets to cover the debts or it obviously lacks
repayment ability, it may, upon the consent of China Banking Regulatory Commission, apply for bankruptcy to the people’s court.

With regard to such a trust company, China Banking Regulatory Commission may directly apply to the people’s court for reforming or
conducting bankruptcy liquidation.

Article 15

In case a trust company is terminated, its duties of managing trust affairs shall be terminated concurrently. The liquidating group
shall appropriately keep the trust property, prepare a report on the disposal of trust affairs and hand over trust property to the
new trustee. In case the trust document makes otherwise stipulations, such stipulations shall prevail.

Chapter III Business Scope

Article 16

A trust company may apply for conducting part or all of the following businesses of domestic or foreign currency:

(1)

trust of capital;

(2)

trust of movable property;

(3)

trust of real estate;

(4)

trust of negotiable instruments;

(5)

trust of any other property or property rights;

(6)

to engage in investment fund business as a promoter of a investment fund or fund management company;

(7)

to conduct such businesses as the reorganization, purchase and merger of enterprise assets, fund-raising for project, corporation
finance and financial consultation, etc;

(8)

to conduct the securities underwriting businesses upon commission as approved by the related departments under the State Council;

(9)

to conduct such businesses as brokerage, consultation and credit investigation, etc;

(10)

to provide safe-keeping services upon commission and to operate the business of safety-deposit boxes;

(11)

other businesses as prescribed in any law or regulation or approved by China Banking Regulatory Commission.

Article 17

A trust company may, in accordance with the provisions of the Trust Law of the People’s Republic of China and the relevant laws and
regulations, conduct charitable trust activities.

Article 18

A trust company may, according to different trust purposes, different varieties of trust property and different management styles
of trust property, set up different varieties of trust business in light of market demand.

Article 19

A trust company may, according to the stipulations in the trust documents, manage, use or dispose its trust property by means of
investment, sales, inter-bank deposits, purchasing for reselling, lease or loans, etc. Where China Banking Regulatory Commission
makes otherwise provisions, the related provisions shall prevail.

No trust company may manage or use trust property in manners of selling out for repurchasing.

Article 20

Such businesses as inter-bank deposits, inter-bank offers, loans, lease and investment may be conducted by a trust company under
the item of inherent business. The investment business shall be limited to investment in financial companies in form of equity as
well as investment in financial products and self-use inherent assets.

Except it is otherwise stipulated by China Banking Regulatory Commission, no trust company may make industrial investment with its
inherent property.

Article 21

Except it is stipulated otherwise by China Banking Regulatory Commission, a trust company may not conduct the liability businesses
other than the business of inter-bank loans with the balance of its inter-bank loans not more than 20% of its net assets.

Article 22

A trust company may provide guarantee for outsiders, provided that the guarantee balance may not be more than 50% of its net assets.

Article 23

A trust company shall, when operating foreign exchange trust business, conform to the related provisions of the state on foreign
exchange control and subject itself to the examination and supervision of the competent foreign exchange department.

Chapter IV Operating Rules

Article 24

A trust company shall, when managing, operating or disposing its trust property, scrupulously perform its duties, fulfill its obligations
of honesty, good faith, prudence and effective management as well as safeguard the beneficiaries’ best interests.

Article 25

A trust company shall, when handling trust affairs, avoid the conflict of interests. When it is impossible to avoid such conflict,
it shall fully release the related information to the trustors and the beneficiaries or refuse to conduct such business.

Article 26

A trust company shall dispose of trust affairs by itself. In case any trust document stipulates otherwise or it has any reason of
necessity, it may entrust others to dispose of trust affairs on behalf of it, but the trust company shall fully fulfill the obligation
of supervision and be responsible for the acts carried out for disposing trust affairs by the entrusted party.

Article 27

Except it is stipulated otherwise in any law or regulation or trust document, a trust company has the obligation of keeping secret
the information and the relevant situation on its trustors and beneficiaries as well as that on its handling of trust affairs in
accordance with law.

Article 28

A trust company shall appropriately completely record its disposing of trust affairs and report its trustors and beneficiaries the
situation on trust property and its management, operation, disposal as well as revenue and expenditure on a regular basis.

A trustor or beneficiary has the right to be informed of the situation on the management, operation, disposal as well as revenue and
expenditure of his/her/its trust property by the trust company and require the trust company to make related explanations.

Article 29

A trust company shall manage its trust property and inherent property separately and keep accounts thereof separately. And it shall
also manage the trust property of different trustors separately and keep accounts thereof separately.

Article 30

A trust company shall set up accounts in accordance with law, make business accounting for the trust business and non-trust business
respectively and make business accounting for each trust business separately.

Article 31

The trust business department of a trust company shall be independent from the company’s other departments, this department’s personnel
may not concurrently hold any post in any other department of the company, and the business information of this department may not
be shared with this company’s other departments.

Article 32

In case a trust is established in the form of trust contract, the following items shall be indicated in the trust contract:

(1)

the trust purpose;

(2)

name or post_title and domicile of the trustor and that of the trustee;

(3)

beneficiaries or scope thereof;

(4)

scope, variety and situation of trust property;

(5)

rights and obligations of the parties to the trust;

(6)

release and assuming of the risks involved in the management of trust property;

(7)

management style of trust property and the trustee’s management right ;

(8)

trust interests calculation as well as the form and method for delivering trust interests to the beneficiaries;

(9)

calculation and payment of remunerations for the trust company;

(10)

assuming of the tax on trust property and the calculation of other expenses;

(11)

trust period and termination ;

(12)

ownership of trust property at the time of the termination of the trust;

(13)

reporting of trust affairs;

(14)

liabilities for breaching contract by the parties to the trust and the method for settling dispute;

(15)

method for choosing new trustee;

(16)

other items that is necessary to be indicated as considered by the parties to the trust.

In the case of establishing a trust in the form of any written document other than trust contracts, the items to be indicated in the
written document shall accord with the related laws and regulations.

Article 33

When conducting inherent business, no trust company may commit any of the following behaviors:

(1)

to contribute funds or transfer property to any of its associated parties;

(2)

to provide guarantee for any of its associated parties;

(3)

to raise funds by pledging the equity held by any this company’s shareholder.

The associated parties of a trust company shall be defined according to the Company Law of the People’s Republic of China and the
related enterprise accounting standards.

Article 34

When conducting trust business, no trust company may commit any of the following activities:

(1)

to seek improper interests by taking advantage of its status as trustee;

(2)

to misappropriate its trust property for any non-trust purpose;

(3)

to promise that the trust property would suffer no loss or guarantee a minimum return;

(4)

to provide guarantee with trust property;

(5)

other activities prohibited by any law or regulation or China Banking Regulatory Commission.

Article 35

A trust company shall, on the basis of fair market price, conduct associated transactions, report each transaction to China Banking
Regulatory Commission in advance and release the related information according to the related provisions.

Article 36

Except it is otherwise stipulated by China Banking Regulatory Commission, a trust company shall collect remunerations in the form
of commission charge or brokerage expense as agreed to in the trust documents when operating any trust business.

A trust company shall inform the beneficiaries of the fact of collecting remunerations and shall explain the detailed charging rates
to them.

Article 37

In case a trust company handles its trust property by disobeying the original trust purpose, or causes any loss to the trust property
owing to its violation of management duties or improper handling of the trust affairs, it may not ask for paying remunerations before
it recovers the trust property’s original status or makes compensates correspondingly.

Article 38

The expenses spent and the liabilities assumed by a trust company for its disposal of trust affairs shall be undertaken by the trust
company with the trust property, Provided that they are listed in the trust contract or expressly notified to the beneficiary. A
trust company shall enjoy the priority of being compensated with the trust property, if it makes advance payment with its inherent
property. The liabilities born and damages suffered by the trust company from its disobeying of management duties or improper management
of trust affairs shall be undertaken by the trust company with its inherent property.

Article 39

In case a trust company handles its trust property with violation of the trust purpose, or if it has gross negligence in the management,
operation or disposal of its trust property, the trustor or beneficiary has the right fire the trust company as stipulated in the
trust document or applies for the people’s court to fire the trust company.

Article 40

In case the trustee is terminated in accordance with law, a new trustee shall be chosen as stipulated in the trust document; in the
case of no such stipulations in the trust document, the trustor may make a selection at its own will; if the trustor is unable to
make a selection, the beneficiary shall do it; in case the beneficiary is a person of no or limited capacity for civil conduct, his/her
guardian may make a selection in accordance with law. Prior to the selection of a new trustee, China Banking Regulatory Commission
may design a temporary trustee.

Article 41

A trust company shall, when conducting trust business, terminate a trust where it faces any of the following circumstances:

(1)

a cause for termination stipulated in the trust document occurs;

(2)

the continuous existence of the trust goes against the trust purpose;

(3)

the trust purpose has came true or can’t be realized;

(4)

the parties to the trust agree to do so upon negotiations;

(5)

the trust period has expired;

(6)

the trust has been rescinded;

(7)

the trust has been canceled;

(8)

all the beneficiaries of the trust have abandoned the beneficiary right.

Article 42

In case a trust is terminated, the trust company shall make a liquidation report on disposing trust affairs as stipulated in the
trust document. In case no objection to the liquidation report is presented by the beneficiary of the trust or the person enpost_titled
to owning the trust property, the trust company may be absolved from the items listed in the liquidation report, except for any misconduct
committed by that the trust company.

Chapter V Supervision and Management

Article 43

A trust company shall build up an organizational structure mainly composed of the shareholders’ meeting, the board of directors,
the board of supervisors and senior management level, etc, whose respective duties and responsibilities clearly defined so as to
guarantee their independent operation and effective check and balance, and form a scientific and highly efficient policy-making,
incentive and constraint mechanism.

Article 44

A trust company shall, in accordance with the principle of the separation of duties, arrange corresponding posts, ensure that the
company may prevent risks from occurring in advance, control the emerging risks and supervise and correct the occurred risks, and
form a sound inner control system and supervision system.

Article 45

A trust company shall formulate the rules for operating trust business and other businesses according to the related provisions,
set up and perfect its business management system and inner control system and report them to China Banking Regulatory Commission
for record.

Article 46

A trust company shall set up and perfect its financial and accounting system according to the related provisions of the state and
factually record and comprehensively reflect its business activities and financial situations. Its annual financial accounting statement
shall be audited by a well qualified intermediary institution.

Article 47

China Banking Regulatory Commission may check any trust company’s business activities on a regular or irregular basis; it may require
any trust company to provide the related auditing report issued by a well qualified intermediary institution when necessary.

A trust company shall provide the related statements and materials on its business activities and financial situation as required
by China Banking Regulatory Commission and factually introduce the related business situation.

Article 48

Net capital management shall be adopted by China Banking Regulatory Commission over trust companies. The specific measures shall
be formulated by China Banking Regulatory Commission separately.

Article 49

5% of its annual after-tax profits shall be drawn by a trust company as trust compensation reserve, but when the accumulated amount
of the compensation reserve accounts for 20% of the registered capital of this company, it is not required to do so any longer.

A trust company’s compensation reserve shall be deposited in a domestic commercial bank that possesses stable operation and certain
strength or used to purchase treasury bonds or other forms of securities with low risk and high liquidity.

Article 50

An examination system shall be adopted by China Banking Regulatory Commission for the post-holding qualifications of the trust companies’
directors and senior managers. No director or senior manager who has not been examined or fails to pass the examination may hold
the post.

In case a director or senior manager leaves the post, a trust company shall conduct a post-leaving audit and report China Banking
Regulatory Commission the auditing result for record. In case the legal representative of a trust company is changed, the original
legal representative may not leave his/her post until China Banking Regulatory Commission examines and approves the post-holding
qualification of the new legal representative.

Article 51

A trust business qualification management system shall be adopted by China Banking Regulatory Commission with regard to the trust
practitioners of trust companies. A qualification certificate shall be issued to anyone satisfying the conditions; those failing
to obtain a qualification certificate for trust practitioners may not engage in the trust business.

Article 52

In case a director, senior manager or trust practitioner of a trust company violates any law, administrative regulation or any related
provision of China Banking Regulatory Commission, China Banking Regulatory Commission has the power to cancel his/her post-holding
qualification or professional qualification.

Article 53

China Banking Regulatory Commission may, in light of the needs for performing its duties, hold talks on supervision and management
with any director or senior manager of a trust company and requires him/her to explain the major issues involved in the business
activities and risk management of the trust company.

Article 54

In case a trust company goes against the prudent operation rules, China Banking Regulatory Commission shall order it to make corrections
within a certain time limit; if it fails to do so or its behavior seriously threatens its stable operations or infringes upon the
lawful rights and interests of the beneficiaries, China Banking Regulatory Commission may, in accordance with the Banking Supervision
Law of the People’s Republic of China and other relevant laws, adopt such regulatory measures as suspending its business or restricting
its shareholders’ rights, etc. in light of different circumstances.

Article 55

In case a credit crisis has already or may be encountered by a trust company and the lawful rights and interests of the beneficiaries
are severely infringed upon, China Banking Regulatory Commission may take over the trust company in accordance with law or urge it
to conduct structural reorganization.

Article 56

In Case China Banking Regulatory Commission, after approving the establishment, alteration or termination of a trust company, discovers
that there is any concealing or fabrication in the application materials, it may order the trust company to make up or correct or
it may cancel the approval.

Article 57

A trust company may join China Trustee Association to be a member therein and accept industrial self-discipline.

China Trustee Association shall, when conducting activities, be subject to the guidance and supervision of China Banking Regulatory
Commission.

Chapter VI Penalty Provisions

Article 58

In case any entity or individual sets up any trust company without the approval of China Banking Regulatory Commission, China Banking
Regulatory Commission shall cancel the trust company in accordance with law; if any crime is committed, criminal liabilities shall
be investigated on it or him; where no crime is committed, China Banking Regulatory Commission shall confiscate the illegal proceeds,
and in case the illegal proceeds are 500,000 Yuan or more, a fine of not less than the illegal proceeds but not more than five times
that shall be imposed; if there are no illegal proceeds or that are less than 500,000 Yuan, a fine of not less than 500,000 Yuan
but not more than 2 million Yuan shall be imposed.

Article 59

In case any trust company sets up any branch institution without the approval of China Banking Regulatory Commission or conducts
any business as prohibited in Articles 19, 20, 21, 22, 33 or 34 of the present Measures, China Banking Regulatory Commission shall
order it to make corrections, confiscate its illegal proceeds (if any) and impose a fine of not less than the illegal proceeds but
not more than five times that if the illegal gains are 500,000 Yuan or more; if there are no illegal proceeds or that are less than
500,000 Yuan, a fine of not less than 500,000 Yuan but not more than 2 million Yuan shall be imposed; if the circumstance is especially
severe or the trust company fails to correct within the provisioned time limit, China Banking Regulatory Commission shall order it
to suspend its business for rectification or cancel its financial license; and where any crime is committed, criminal liabilities
shall be investigated.

Article 60

In case any trust company violates any other provision of the present Measures, China Banking Regulatory Commission shall, in accordance
with the Banking Supervision Law of the People’s Republic of China and other relevant laws and regulations, take corresponding punishment
measures.

Article 61

In case a trust company commits any illegal operation or poor management, and if the trust company is not cancelled, the financial
order or the public interests would be seriously damaged, China Banking Regulatory Commission shall cancel it in accordance with
law.

Article 62

As regards a director, senior manager or any other personnel directly held liable for the trust company’s violation, such punishment
measures as imposing a fine, canceling his/her post-holding qualification or professional qualification shall be made by China Banking
Regulatory Commission in light of the different circumstances and according to the Banking Supervision Law of the People’s Republic
of China and other related laws and regulations.

Article 63

Any entity or individual that has objection to the punishment decision made by China Banking Regulatory Commission may apply for
administrative review or lodge an administrative lawsuit to the people’s court in accordance with law.

Chapter VII Supplementary Provisions

Article 64

If a trust company does not perform its management duties by itself, namely, not undertaking the duties of investment manager, its
registered may not be less than 100 million Yuan or the equivalent convertible currency. The present Measures shall be applicable
to trust companies of this category by analogy.

Article 65

China Banking Regulatory Commission is responsible for interpreting the present Measures.

Article 66

The present Measures shall go into effect as of March 1, 2007. The Measures for Administering Trust and Investment Companies (Decree
No.5, 2002 of the People’s Bank of China) shall be repealed.

The China Banking Regulatory Commission
2007-01-23

CIRCULAR OF THE GENERAL OFFICE OF THE MINISTRY OF COMMERCE ON PROHIBITING ASSIGNING QUOTA OF INVITING INVESTMENT TO SUBORDINATE GOVERNMENTS AND LINKING UP THEIR PERFORMANCE WITH THE QUOTA COMPLETION

Circular of the General Office of the Ministry of Commerce on Prohibiting Assigning Quota of Inviting Investment to Subordinate Governments
and Linking Up Their Performance with the Quota Completion

The competent departments of commerce in all provinces, autonomous regions, municipalities directly under the Central Government,
cities specifically designated in the state plan and Xinjiang Production and Construction Corps:

Currently, the work of absorbing foreign investment has entered a new stage in China and great progress has been achieved in making
the investment invitation more scientific and standardized. Local governments and the competent departments of investment invitation
at various levels have made their contributions to inviting foreign investment by committing themselves to the work and providing
good service for foreign investors in China. However, there still remain some unreasonable emphases in invitation instead of in administration
and in scale instead of in quality. Some local governments have attached undue importance to the quantity of foreign investment and
simply assigned “inflexible quota” to their subordinate, regardless of the quality, or they may even link up the quantity of foreign
investment invited with the assessment of the cadres’ achievements and their salaries and bonuses, which will not only interfere
in the normal operation of the government, but also serve as the hotbed of untruthful reports of figures and irrational and malign
competitions between different regions, and undermine the uniformity and seriousness of the national policies and laws. It runs counter
to the requirements of the scientific outlook on development and will do harm to the quality and level of the absorbed foreign investment.
For the purpose of checking this trend and raise the quality and level of the absorbed foreign investment, it is hereby notified:

The scientific outlook on development shall be strictly followed and it is prohibited to assign quota of inviting investment to subordinate
governments and linking up their performance with the quota completion. China’s main competitiveness in absorbing foreign investment
lies in the long-term steady growth of national economy, political stability, improvement of people’s livelihood, huge market potential
and constantly improving investment environment. Local governments and institutions at various levels shall unswervingly implement
the principles of the State Council and prevent and put an end to all practices of assigning quota to the subordinate departments
and appraising their performance with the quota completion as the only indicator. Meanwhile, emphasis should be laid on improving
the investment environment and raising the quality of service, with a view to further optimizing the foreign investment mix and accelerating
the shift of foreign investment absorption to a growth mode which stresses quality and efficiency. In the future, the Ministry of
Commerce will intensify its supervision over the local authorities and conduct a regular inspection for the aforementioned phenomena
as well as that of mobilizing everyone to attract investment; in serious cases, a notice of criticism shall be circulated.

II.

The Ministry of Commerce shall strengthen the guidance to the formulation and implementation of investment promoting strategy of local
governments, adopt scientific policies, innovate the working methods and measures and boost the investment promoting efficiency,
in accordance with the objectives of the state macro-economic development and the reality of economic development and industrial
distribution. The Ministry of Commerce will provide technical support for the less developed areas in Central-Western Region in image-building,
programme introduction and recommendation, information exchange and personnel training through “the Assistance Centre of Investment
Promoting for Less-Developed Areas” so as to improve the investment promoting work in these areas.

III.

The Ministry of Commerce will cooperate with relevant institutions and conduct an appraisal of local investment environment and performance
of the local authorities in investment promoting, with a view to constantly improving the investment environment and raising the
level of investment promoting.

General Office of the Ministry of Commerce

February 2, 2007

General Office of the Ministry of Commerce
2007-02-02

CIRCULAR OF THE MINISTRY OF COMMERCE ON ENTRUSTING NANJING 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 Nanjing 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. 26

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

Upon research, we hereby authorize the Management Committee of Nanjing 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 Nanjing 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 Nanjing 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.

Nanjing Economic-Technological Area, the management system of which needs to be improved, has not set up an independent finance department
yet. Nanjing 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 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)

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

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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

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

PROVISIONS FOR ADMINISTERING NATIONAL INTER-BANK BOND MARKET MAKERS

MEASURES FOR ADMINISTERING TRUST COMPANIES

CIRCULAR OF THE GENERAL OFFICE OF THE MINISTRY OF COMMERCE ON PROHIBITING ASSIGNING QUOTA OF INVITING INVESTMENT TO SUBORDINATE GOVERNMENTS AND LINKING UP THEIR PERFORMANCE WITH THE QUOTA COMPLETION

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

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