SUPPLEMENTARY CIRCULAR OF THE MINISTRY OF FINANCE ON PRINTING AND DISTRIBUTING THE MEASURES FOR THE PAYMENT OF FEES FOR TAX-FREE COMMODITY FRANCHISES

the Ministry of Finance

Supplementary Circular of the Ministry of Finance on Printing and Distributing the Measures for the Payment of Fees for Tax-free Commodity
Franchises

Cai Qi [2006] No. 70

To the Ministry of Foreign Affairs, the General Administration of Civil Aviation, the Ministry of Communications, the Ministry of
Railways, China International Travel Service Head Office, China National Service Corporation for Chinese Personnel Working Abroad,
China Travel Service (Group) Corporation, Shenzhen State-owned Duty Free (Group) Limited Corporation, Zhuhai Duty Free (Group) Limited
Corporation, Beijing Capital International Airport and the tax-free stores thereof, Shanghai Pudong International Airport and the
tax-free stores thereof, China Ocean Shipping Company Group and other entities engaged in the business of tax-free commodities, the
financial supervision commissioners’ offices of the Ministry of Finance of all provinces, autonomous regions, municipalities directly
under the Central Government and cities under separate state planning,

After the Notice of the Ministry of Finance on Printing and Distributing the Measures for the Payment of Fees for Tax-free Commodity
Franchises (Cai Qi [2004] No. 241, hereinafter referred to as the Measures) was promulgated, the provisions on the payment to the
treasury have been altered. We hereby circulate a supplementary notice on the collection and payment of fees for tax-free commodity
franchises as follows:

The provisions of in the former Measures – “An enterprise which undertakes the business of tax-free commodities shall pay to the State
a franchise fee of 1% of its annual sales incomes (volumes) as generated from its business operations of tax-free commodities” –
shall be revised as “An enterprise which undertakes the business of tax-free commodities shall pay to the State a franchise fee of
1% of its annual sales incomes as generated from its business operations of tax-free commodities”.

II.

The fees for tax-free commodity franchises shall be paid to and collected by the financial supervision commissioners’ office of the
Ministry of Finance dispatched at the locality of the enterprise. The enterprise that engages in the business of tax-free commodities
shall submit annual report to the local financial supervision commissioners’ office.

III.

As the Notice of the Ministry of Finance on the Relevant Issues about the Income Collection Management System of Financial Supervision
Commissioners’ Offices (No. 365 [2005] of the Ministry of Finance) and the relevant provisions prescribe, the fees for tax-free commodity
franchises shall be directly paid to the treasury, and the financial supervision commissioners’ offices in all regions shall issue
the Common Forms for the Payment of Non-tax Incomes, and directly turn over the fees paid by the payers to the special payment account
of the central treasury. The budgetary item of the fees for tax-free commodity franchises shall be the “Item 7140 of other incomes”.

It is hereby notified.

Ministry of Finance

March 20, 2006

the Ministry of Finance
2006-03-20

ADMINISTRATIVE MEASURES FOR THE EXAMINATION AND APPROVAL OF PERMANENT REPRESENTATIVE OFFICES OF FOREIGN AIR TRANSPORT ENTERPRISES

General Administration of Civil Aviation of China

Order of the General Administration of Civil Aviation of China

No.165

The Administrative Measures for the Examination and Approval of Permanent Representative Offices of Foreign Air Transport Enterprises,
adopted at the executive meeting of the General Administration of Civil Aviation of China on March 31, 2006, are hereby promulgated,
and shall go into effect as of May 3, 2006.

Director General, Yang Yuanyuan

April 3, 2006

Administrative Measures for the Examination and Approval of Permanent Representative Offices of Foreign Air Transport Enterprises

Chapter I General Provisions

Article 1

In order to regulate the administration of permanent representative offices of foreign air transport enterprises (hereinafter referred
to as representative offices) and their staff members, these Administrative Measures are formulated in accordance with the Interim
Provisions of the State Council on the Administration of Permanent Representative Offices of Foreign Enterprises.

Article 2

The “representative offices” as mentioned in these Administrative Measures refers to the agencies that are set up upon approval by
foreign air transport enterprises within the territory of China and engage in the business operations.

The “chief representatives” as mentioned in these Administrative Measures refers to the principal responsible persons of the agencies;
and the “representatives” as mentioned in these Administrative Measures refers to other main staff members of the agencies.

Article 3

To apply for setting up a representative office within the territory of the People’s Republic of China, a foreign air transport enterprise
shall be approved by the General Administration of Civil Aviation of the People’s Republic of China (hereinafter referred to as the
CAAC), and go through the registration formalities at the State Administration for Industry and Commerce of the People’s Republic
of China or the authorized administrative bureau for industry and commerce of each province, autonomous region, municipality directly
under the Central Government or city under separate state planning (hereinafter referred to as the registration organ).

Article 4

A foreign air transport enterprise may not set up a representative office within the territory of the People’s Republic of China without
approval and registration, nor may it carry out any business operation concerning air transport.

Article 5

The representative offices and their staff members shall comply with the laws, regulations and rules for civil aviation of the People’s
Republic of China, and shall not damage the security of the People’s Republic of China or the social and public interests. The lawful
rights and interests of the representative offices and their staff members shall be under the protection of the laws of China.

Article 6

The CAAC shall, in accordance with the laws of the People’s Republic of China and the authorization of the State Council, implement
the administrative functions for the representative offices under its own jurisdiction.

Chapter II Establishment, Extension, Alteration and Termination of Representative Offices

Article 7

For the purpose of setting up a representative office, a foreign air transport enterprise shall comply with the basic conditions as
follows:

(1)

In accordance with the air transport treaty or the relative agreement signed between the government of the country where the foreign
air transport enterprise is located and the government of the People’s Republic of China, the foreign air transport enterprise has
obtained the designated qualification for providing air transport services between two countries;

The setting up of any representative office by a foreign air transport enterprise that has not obtained the designated qualification
for providing air transport services between two countries shall be specially approved by the CAAC; and

(2)

The foreign air transport enterprise shall go through the approval formalities in accordance with these Administrative Measures.

Article 8

For the purpose of setting up a representative office, a foreign air transport enterprise shall hand in the application materials
to the CAAC in accordance with different situations:

(1)

For the purpose of setting up a representative office, a designated foreign air transport enterprise shall hand in the application
materials as follows to the CAAC:

A photocopy of the business license or any other approval document issued by the CAAC;

An application form signed by the legal representative of the foreign air transport enterprise, which shall indicate: the purposes
of setting up the representative office, the name of the representative office, the persons to be assigned to the representative
office (chief representative and representatives), range of business, business address, and the contact information, etc.;

Letter of attorney issued by the legal representative of the foreign air transport enterprise for entrusting the chief representative
and representatives of the representative office, and the photocopies of the valid travel certificates of the chief representative
and representatives; and

Registration Forms for the Staff Members of Representative Offices of Foreign Air Transport Enterprises in duplicate filled by the
chief representative and representatives.

(2)

For the purpose of setting up a representative office, a non-designated foreign air transport enterprise shall hand in the application
materials as follows to the CAAC:

A photocopy of the relative agreement signed between the authorities of the country where the foreign air transport enterprise is
located or the foreign air transport enterprise and the CAAC;

An application form signed by the legal representative of the foreign air transport enterprise, consisting of: the brief information
about the enterprise, the purposes for setting up the representative office, the name of the representative office, the persons to
be assigned to the representative office (chief representative and representatives), range of business, business address, and the
contact information, etc.;

The certificate (duplicate) on lawful business initiation issued by the authorities of the country where the foreign air transport
enterprise is located;

Registration Forms for the Staff Members of Representative Offices of Foreign Air Transport Enterprises in duplicate filled by the
chief representative and representatives.

Article 9

The CAAC shall conduct the applications put forward by the applicants in accordance with the conditions as follows:

(1)

If there is any error in the application materials that can be corrected on the spot, the CAAC shall allow the applicant to make corrections
on the spot;

(2)

If the application materials are incomplete or inconsistent with statutory forms, all the contents that need to be corrected once
and for all shall be informed of the applicants by the CAAC within 5 days, . If the CAAC fails to do so within the aforesaid time
limit, it shall be considered to have accepted the application materials as of the day when it receives them; and

(3)

The CAAC shall accept the application, in case the application materials are complete and consistent with statutory forms, or all
the corrected application materials have been handed in by the applicant as required.

Article 10

The CAAC shall, within 20 days as of the date of acceptance, make a decision to approve or disapprove the setting up of a representative
office. If it fails to make a decision within 20 days, the time limit may be extended to another 10 days upon approval of its principal,
and it shall inform the applicant of the reasons for the extension .

If the CAAC makes a decision on approval of the setting up of the representative office, it shall issue an approval certificate to
the applicant within 10 days as of the day when the decision is made; if it makes a decision on disapproval of the setting up of
the representative office, it shall inform the applicant of this and make an explanation on the reasons for the disapproval.

Article 11

After an application of a foreign air transport enterprise for setting up a representative office is approved, this representative
office shall go through the registration formalities at the registration organ in accordance with the relative provisions. If it
fails to do so within the aforesaid time limit, the approval certificate shall be invalidated automatically.

Article 12

The valid time limit of the approval document on the representative office of a designated foreign air transport enterprise shall
accord with that of the business license issued by the CAAC. The valid time limit of the representative office of a non-designated
foreign air transport enterprise shall generally be 3 years calculated as of the day when the CAAC issues the approval certificate.
If the valid time limit expires and needs to be extended, the foreign air transport enterprise shall, 45 days in advance, submit
an application to the examination and approval organ, and go through the formalities for the extension.

Article 13

For the purpose of applying for an extension, a representative office shall submit the application materials in accordance with different
situations as follows:

(1)

A designated foreign air transport enterprise shall hand in the materials as follows:

A photocopy of the valid business license or any other approval document issued by the CAAC;

An application form for extension signed by the legal representative of the enterprise; and

The photocopies of the approval certificate and the registration certificate of the permanent representative office of the enterprise.

(2)

A non-designated foreign air transport enterprise shall submit the following materials:

A photocopy of the relative agreement signed between the authorities of the country where the foreign air transport enterprise is
located or the foreign air transport enterprise and the CAAC;

An application form for extension signed by the legal representative of the enterprise; and

A photocopy of the approval document and the registration certificate of the permanent representative office of the enterprise.

Article 14

The valid extension time limit of an approval document on the representative office of a designated foreign air transport enterprise
shall accord with that of the business license issued by the CAAC. The valid extension time limit of an approval document for the
representative office of a non-designated foreign air transport enterprise shall generally be 3 years. After an application for extension
handed in by a representative office is approved, the CAAC shall issue a certificate on approval of the extension, and the representative
office shall go through the registration formalities for the extension in accordance with the relative provisions.

Article 15

If a foreign air transport enterprise applies for changing the name of its representative office, replacing or adding the chief representative
or representatives, altering the business range or business address of its representative office, it shall hand in an application
form signed by the legal representative of the enterprise and the relative materials about the matter to be altered to the CAAC.

An application form for changing the business address within the same city may be signed by the chief representative of the representative
office.

Article 16

After an application for alteration is approved, the CAAC shall issue a certificate on approval of the alteration, and the representative
office shall go through the registration formalities in accordance with the relative provisions.

Article 17

If a representative office does not hand in an application for extension after the expiration of the term of dispatch, its original
approval certificate shall be cancelled by the CAAC.

If a foreign air transport enterprise cancels a representative office before the expiration of the valid time limit, the legal representative
of this air transport enterprise shall sign a notification on cancellation of the representative office 30 days before the termination,
and a photocopy of the original approval document shall be handed in to the CAAC for an archive.

Article 18

The name of a representative office shall be ascertained in the pattern of “country + name of the enterprise + name of the city +
representative office”.

Article 19

An application form for establishing, extending, altering or canceling a representative office or a letter of attorney for the chief
representative or any representative shall be written in Chinese; and if it is written in any other language, an enclosure of Chinese
translation thereof shall be followed. If any other application material is written in the language other than Chinese, an enclosure
of Chinese translation thereof shall be followed. For the legal force of the relative documents or materials, the Chinese version
thereof shall prevail

Chapter III Administration of Chief Representatives and Representatives

Article 20

A chief representative or representative of a representative office shall have the qualifications as follows:

(1)

A foreign citizen with a valid passport (excluding foreign students in China);

(2)

A Chinese citizen who is qualified for long-term residence abroad;

(3)

A citizen from Hong Kong, Macao or Taiwan holding a valid certificate; and

(4)

In case a foreign air transport enterprise employs a Chinese citizen to be the chief representative or representative of its representative
office (excluding the Chinese citizens mentioned in Paragraph 2 of this Article), it shall go through the approval formalities in
accordance with the relative laws and regulations of the People’s Republic of China.

Article 21

A foreign chief representative or representative of a representative office shall, after entering into the territory of China, acquire
an employment permit on the basis of the strength of his/her occupation visa and other relative certificates; if he/she has no occupation
visa, he shall acquire an occupation visa and an employment permit on the basis of the strength of a Registration Certificate for
the Permanent Representative Offices of Foreign Air Transport Enterprises and a Work Certificate for the Permanent Representative
Offices of Foreign Air Transport Enterprises. If the country where the foreign air transport enterprise is located has reached an
agreement on mutual exemption of visas with China, he/she shall go through the formalities in accordance with the agreement.

Article 22

For the purpose of applying for changing the chief representative of a representative office, the foreign air transport enterprise
shall hand in the materials as follows to the CAAC:

(1)

An application form signed by the legal representative of the foreign air transport enterprise;

(2)

A letter of attorney signed by the legal representative of the foreign air transport enterprise;

(3)

A Registration Form for the Staff Members of Representative Offices of Foreign Air Transport Enterprises in duplicate filled by the
person who is to be appointed; and

(4)

A photocopy of the valid travel certificate of the person who is to be appointed.

For the purpose of applying for changing a representative, the representative office of a foreign air transport enterprise shall hand
in the materials as follows to the CAAC:

(1)

An application form signed by the chief representative of the representative office of the foreign air transport enterprise;

(2)

A letter of attorney signed by the legal representative of the foreign air transport enterprise;

(3)

A Registration Form on the Staff Members of Representative Offices of Foreign Air Transport Enterprises in duplicate filled by the
person who is to be appointed; and

(4)

A photocopy of the valid travel certificate of the person who is to be appointed.

Chapter IV Supervision and Administration of Representative Offices

Article 23

In accordance with the Interim Provisions on the Administration of Permanent Representative Offices of Foreign Enterprises, these
Administrative Measures and other relative laws and regulations, the CAAC shall administer, supervise and inspect the business operations
of the representative offices of foreign air transport enterprises jointly with the relevant departments.

Article 24

A foreign air transport enterprise shall undertake the legal liabilities for all the business operations that are implemented by its
representative offices within the territory of the People’s Republic of China.

Article 25

If a representative office violates the laws or regulations of the People’s Republic of China or these Administrative Measures, the
CAAC shall impose administrative punishment on it under its jurisdiction and in accordance with the severity of the circumstances.

Chapter V Supplementary Provisions

Article 26

These Administrative Measures by analogy shall apply to the applications of foreign air transport enterprises for assigning permanent
representatives to the People’s Republic of China .

The applications of foreign air transport services security enterprises for setting up representative offices within or assigning
permanent representatives to the People’s Republic of China shall be governed by these Administrative Measures by analogy.

Article 27

The time limits prescribed in these Administrative Measures shall be calculated with the working days, excluding official holidays.

Article 28

These Administrative Measures shall go into effect 30 days after the date of promulgation. The Circular on Implementing the Interim
Provisions on the Administration of Permanent Representative Offices of Foreign Enterprises (Min Hang Ji [80] No. 399) prevailed
on December 4, 1980 shall be abolished at the same time.

General Administration of Civil Aviation of China
2006-04-03

CIRCULAR OF PBC, CBRC AND SAFE ON PROMULGATING THE INTERIM MEASURES FOR THE ADMINISTRATION OF COMMERCIAL BANKS PROVIDING OVERSEAS FINANCIAL MANAGEMENT SERVICES

People’s Bank of China, China Banking Regulatory Commission, State Administration of Foreign Exchange

Circular of PBC, CBRC and SAFE on Promulgating the Interim Measures for the Administration of Commercial Banks Providing Overseas
Financial Management Services

Yin Fa [2006] No. 121

April 17, 2006

To Shanghai Head Office of the People’s Bank of China, all branches and business management departments and the central sub-branches
of the provincial capital cities, the central sub-branches of Dalian, Qingdao, Ningbo, Xiamen and Shenzhen, the banking regulatory
bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated
in the state plan, the branches and foreign exchange departments of the State Administration of Foreign Exchange of all provinces,
autonomous regions and municipalities directly under the Central Government, the branches of the State Administration of Foreign
Exchange of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo, all wholly state-owned commercial banks and joint-stock commercial banks,

For the purpose of advancing the convertibility of Renminbi capital accounts in an orderly and controllable way, meeting the reasonable
demands of domestic institutions and individuals for financial investments and asset management abroad, and promoting the balance
of international payments, the People’s Bank of China, China Banking Regulatory Commission and State Administration of Foreign Exchange
have jointly formulated the Interim Measures for the Administration of Commercial Banks Providing Overseas Financial Management Services,
which are hereby promulgated. Please implement them accordingly.

All branches and business management departments of the People’s Bank of China shall transmit it to the commercial banks and foreign
capital banks in the cities within their respective jurisdictions immediately after receipt of the present Notice.

Appendix: The Interim Measures for the Administration of Commercial Banks Providing Overseas Financial Management Services Appendix:Interim Measures for the Administration of Commercial Banks Providing Overseas Financial Management Services

Chapter I General Provisions

Article 1

For the purpose of regulating commercial banks’ provision of overseas financial management services, the present Measures are formulated
in light of the relevant laws and administrative regulations.

Article 2

The term “overseas financial management services ” as mentioned in the present Measures shall refer to the business activities carried
out by commercial banks that are qualified for overseas financial management services and are entrusted by domestic institutions
and individual residents (except non-domestic residents, hereinafter referred to as “investors”) to make stipulated financial product
investments with the investors’ funds pursuant to the relevant requirements of the present Measures.

Article 3

The China Banking Regulatory Commission (hereinafter referred to as “the CBRC”) shall take charge of the access administration and
business administration of commercial banks’ overseas financial management services.

Article 4

The State Administration of Foreign Exchange (hereinafter referred to as “the SAFE”) shall take charge of the foreign exchange quota
administration of commercial banks’ overseas financial management services.

Article 5

The commercial bank shall accord with the laws and regulations of the state, the provisions of the state on foreign exchange administration
and industry administration when making overseas financial management investments service, and shall carry out investment activities
in accordance with the laws and regulations at the locality of the investments.

Article 6

Where a commercial bank is entrusted by a domestic individual resident to provide overseas financial management services, it shall
accord with the relevant provisions on the administration of commercial banks’ provision of personal financial management services;
where a commercial bank is entrusted by a domestic institution to provide overseas financial management services, it shall perform
the activities with reference to the relevant requirements on building up internal control rules and risk management systems as in
the administration of commercial banks’ provision of personal financial management services as well as other prudential requirements.

Article 7

A commercial bank shall take practical and effective measures to strengthen the management of relevant risks when providing overseas
financial management services.

Chapter II Management of Business Access

Article 8

The commercial bank shall apply to the CBRC for approval when intending to provide overseas financial management services.

Article 9

The commercial bank that provides overseas financial management services shall be a designated foreign exchange bank, which shall
meet the following requirements:

(1)

It has established an effective market risk management system and has improved it;

(2)

It has sound internal control rules;

(3)

It has the capacities for and experiences in overseas investment management;

(4)

It has not been penalized by the CBRC within one year before applying for the financial management activities; and

(5)

Other prudential conditions as required by the CBRC.

Article 10

The commercial bank shall submit the following materials (in triplets) when applying to the CBRC for the qualification for providing
overseas financial management services:

(1)

A letter of application;

(2)

Relevant rules on internal control and risk management;

(3)

Draft of the custody agreement; and

(4)

Other documents as required by the CBRC.

Article 11

The CBRC shall examine and approve the commercial banks’ qualifications for overseas financial management services in accordance with
the relevant procedures and provisions on administrative license.

Article 12

Where a commercial bank sells personal financial management products within the territory of China after obtaining the qualification
for overseas financial management services, the activities shall be governed by the relevant provisions of the Interim Measures for
the Administration of Commercial Banks’ Personal Financial Management Services.

Where a commercial bank sells financial management products or provides integrated financial management services to domestic institutions
after obtaining the qualification for overseas financial management services, the access administration shall be subject to the reporting
system, and the issues concerning the reporting procedures and requirements as well as management of relevant risks shall be handled
in light of the relevant provisions on the administration of personal financial management services.

Chapter III Quota of Foreign Exchange Purchased for Investment and Conversion Administration

Article 13

Where a commercial bank is entrusted by an investor to purchase foreign exchange with Renminbi to provide overseas financial management
services, it shall apply to the SAFE for the quota of foreign exchanges purchased for overseas financial management services.

Where a commercial bank is entrusted by an investor to invest in overseas financial management with the investor’s own foreign exchange,
the amount of funds under entrustment shall not be counted into the quota of foreign exchange purchased for investment as approved
by the SAFE.

Article 14

The commercial bank shall submit the following documents to the SAFE when applying for the quota of foreign exchange purchased for
overseas financial management:

(1)

A letter of application (including but not limited to the basic information on the applicant, the requested quota of foreign exchange
purchased for investment, the investment plan, etc.);

(2)

Approval document on the business qualification issued by the CBRC;

(3)

Draft of the custody agreement;

(4)

Sample of the agreement of entrustment (in standard form) to be concluded with the certain investor, which shall include the rights
and obligations of both parties, the assumption of proceeds and risks and other relevant contents; and

(5)

NOTICE OF CHINA INSURANCE REGULATORY COMMISSION ON CLARIFYING THE COMPOSITION OF COMMISSIONS OF INSURANCE SALESMEN

Notice of China Insurance Regulatory Commission on Clarifying the Composition of Commissions of Insurance Salesmen

Bao Jian Fa [2006] No. 48

All insurance regulatory bureaus and insurance companies:

After the promulgation of the Provisions on the Administration of Insurance Salesmen, some insurance companies have required this
Commission to clarity the composition of insurance salesmen’s commissions. We hereby clarify it upon deliberation that the insurance
salesmen’s commissions shall be composed of business costs and labor remuneration.

It is hereby notified.

China Insurance Regulatory Commission

April 27, 2006

China Insurance Regulatory Commission
2006-04-27

MEASURES FOR THE ISSUANCE EXAMINATION COMMITTEE OF CHINA SECURITIES REGULATORY COMMISSION

Order of China Securities Regulatory Commission

No. 31

The Measures for the Issuance Examination Committee of China Securities Regulatory Commission, which were deliberated and adopted
at the 179th executive meeting of the chairmen of China Securities Regulatory Commission on May 8, 2006, are hereby promulgated and
shall come into force as of May 9, 2006.
Shang Fulin,Chairman of China Securities Regulatory Commission

May 9, 2006

Measures for the Issuance Examination Committee of China Securities Regulatory Commission
Chapter I General Provisions

Article 1

With a view to ensuring to follow out the principles of openness, fairness and impartiality in the stock issuance examination and
improving the quality and transparency of the stock issuance examination, the present measures are formulated according to the relevant
provisions of the Securities Law of the People’s Republic of China.

Article 2

The China Securities Regulatory Commission (hereinafter referred to as the “CSRC”) establishes the Issuance Examination Committee
(hereinafter referred to as the “IEC”) which shall be subject to the present measures when examining the applications of the issuers
for stock issuance as well as the applications for the issuance of convertible company bonds and other securities as admissive by
the CSRC (hereinafter referred to as the applications for stock issuance).

Article 3

The IEC shall, according to the Company Law of the People’s Republic of China, the Securities Law of the People’s Republic of China
and other laws and administrative regulations as well as the provisions of the CSRC, conduct examination on the application documents
of the issuers for stock issuance and the preliminary examination reports of the relevant functionary departments of the CSRC.

The IEC shall vote on the applications for stock issuance by balloting, and advance examination opinions.

The CSRC shall, in light of the statutory conditions and procedures, make decisions on approving or disapproving the applications
for stock issuance.

Article 4

The IEC shall fulfill its duties through the work meeting of the IEC (hereinafter referred to as the IEC meeting).

Article 5

The CSRC shall be responsible for the routine management of the affairs of IEC and the examination and supervision over the members
of the IEC.

Chapter II Composition of the IEC

Article 6

The IEC shall comprise the professionals of the CSRC and the relevant experts outside the CSRC, who shall be appointed by the CSRC.

The number of IEC members shall be 25, among whom some may be full-time staff members. Thereto, five IEC members shall be from the
CSRC and the other 20 shall come from outside the CSRC.

The IEC shall have 5 conveners.

Article 7

The tenure of an IEC member shall be one year. The IEC member may be reappointed upon the expiration of the term for lower than 3
terms.

Article 8

An IEC member shall meet the following qualifications:

(1)

Persisting in the principles, being impartial and clean, devoting to his duties and posts, and strictly complying with the laws,
administrative regulations and rules;

(2)

Knowing well the securities and accounting business as well as the relevant laws, administrative regulations and rules;

(3)

Being proficient in the special knowledge of his profession, and enjoying a higher reputation in his practicing field;

(4)

With no records of violation of any law or discipline; and

(5)

Other requirements as considered necessarily by the CSRC.

Article 9

Under any of the following circumstances, an IEC member shall be dismissed by the CSRC:

(1)

Violating any law, administrative regulation, rule or discipline related to the work of issuance examination;

(2)

Failing to be diligent and fulfill his duties according to relevant provisions of the CSRC;

(3)

Filing an application for resignation by himself;

(4)

Failing to attend the IEC meetings without reasons for twice or more; or

(5)

Other circumstances under which, after examination, the CSRC considered that he is unsuitable for assuming the post as an IEC member.

Whether an IEC member is dismissed or not shall be not restricted by the expiration of the tenure. And after an IEC member is dismissed,
the CSRC shall elect and appoint a new IEC member in time.

Chapter III Responsibilities of the IEC

Article 10

Responsibilities of the IEC are as follows:, according to the relevant laws, administrative regulations and the provisions of the
CSRC, examining whether the applications for stock issuance meet the relevant requirements or not,; examining the relevant materials
and position papers as issued by the recommendation institutions, accounting firms, law firms, assets valuation institutions and
other securities intermediary institutions as well as the relevant personnel thereof for the stock issuance; examining the preliminary
examination reports issued by the relevant functionary departments of the CSRC and putting forward the examination opinions on the
applications for stock issuance.

Article 11

The IEC member shall attend the IEC meeting in his own name, fulfill his duties according to laws, and issue examination opinions
and exercise his voting right independently.

Article 12

The IEC member may, through the relevant functionary departments of the CSRC, consult the relevant documents in relation to the issuers,
which are necessary for fulfilling his duties.

Article 13

The IEC member shall abide by the following provisions:

(1)

Attending the IEC meetings as required, and keeping diligent and fulfilling his duties in the examination work;

(2)

Keeping the secrets of the state and the business secrets of the issuers;

(3)

Being prohibited from disclosing any content discussed in the IEC meetings, the voting condition and any other relevant information;

(4)

Being prohibited from taking advantage of the status as an IEC member or the non-public information he has accessed to when performing
his duties to seek interests for himself or any other people directly or indirectly;

(5)

Being prohibited from having any interest with any applicant, from directly or indirectly accepting any gift such as money, goods
or any other benefits offered by the issuer or any other related entity or individual, from holding stocks whose issuance applications
are subject to his examination, and from privately contacting any of the issuers or other related entities or individuals;

(6)

Being prohibited from colluding with any other IEC member to cast votes or inducing any other IEC member to cast votes; or

(7)

Other relevant provisions of the CSRC.

Article 14

The IEC member is in duty bound to report to the CSRC any issuer or any other related entity or individual that imposes influence
on him by illicit means.

Article 15

Under any of the following circumstances when examining the application documents for stock issuance, the IEC member shall offer
to withdraw in time:

(1)

The IEC member or any of his relatives is the director (including the independent director, the same hereinafter), supervisor, manager
or any other senior management member of the issuer or the recommendation institution;

(2)

The IEC member, any of his relatives or the entity where he works holds the shares of the issuer, which may influence his fair fulfillment
of the duties;

(3)

The IEC member or the entity where he works has provided services such as recommendation, underwriting, auditing, evaluation, legal
services, consultation and etc to the issuer, during the past two years, which may hamper his fair fulfillment of his duties;

(4)

The company in which the IEC member or any of his relatives is a director, supervisor, manager, or other senior management member
has any trade competition with the issuer or the recommendation institution, which may affect his fair fulfillment of the duties
after verification;

(5)

Before convening an IEC meeting, the IEC member has met with the issuer being examined for this time or any other related entity
or individual, which may affect his fair fulfillment of the duties; and

(6)

Other circumstances as determined by the CSRC, which may lead to conflicts of interests, or as regarded by the IEC member that may
affect his fair fulfillment of the duties.

The “relatives” as mentioned in the preceding paragraph refer to the spouse, parents, sons or daughters, brothers or sisters of the
IEC member, the parents of his spouse, spouses of his sons or daughters, and the spouses of his brothers or sisters.

Article 16

Where an issuer and other related entities or individuals think that any IEC member has any conflict of interests or potential conflict
of interests with them, which may affect the fair fulfillment of the duties of the IEC member, they may file a written application
with the CSRC for demanding the withdrawal of the relevant IEC member and give relevant explanations, when they submit the application
documents on stock issuance to the IEC for examination.

The CSRC shall, in light of the written application filed by the issuer and other related entities or individuals, decide whether
the relevant IEC member shall withdraw.

Article 17

After an IEC member accepts an appointment, he shall promise to observe the relevant provisions and disciplinary requirements of
the CSRC on IEC members, fulfill his duties earnestly, and be subject to the examination and supervision of the CSRC.

Chapter IV IEC Meetings

Section 1 General Prescriptions

Article 18

The IEC shall conduct examination through convening IEC meetings.

Article 19

The way of open ballots shall be adopted for voting at the IEC meetings. And the votes shall include the consentient votes and negative
votes. No IEC member may waive his voting right. And the IEC members shall explain their reasons on the votes at the time of voting.

Article 20

An IEC member shall, according to the laws, administrative regulations and the provisions of the CSRC and based upon his own professional
knowledge, conduct independent, objective and fair examinations on the applications for stock issuance.

An IEC member shall, in a prudent and responsible manner, roundly examine the application documents of the issuers for stock issuance
and the preliminary examination reports issued by the relevant functionary departments of the CSRC, and shall fill in the working
paper with his personal examination opinions:

(1)

Where an IEC member has any objection to any issue that calls for the attention of IEC members in the preliminary examination report
or the examination opinions, he shall bring forward well-grounded and clear examination opinions on the relevant contents in the
working paper;

(2)

Where an IEC member thinks that the issuer has other problems than those that call for attention in the preliminary examination report,
he shall bring forward well-grounded and clear examination opinions in the working paper; and

(3)

Where an IEC member thinks that an issuer has any serious problem to be investigated and verified, which may affect his impartial
judgment, he shall bring forward well-grounded and clear examination opinions in the working paper.

An IEC member shall deliver his own examination opinions at the IEC meeting on the basis of his own working paper. Meanwhile, he shall
improve his own examination opinions according to the discussion of the meeting, and record them down in the working paper.

The IEC meeting shall, after sufficient discussion, form the examination opinion of the meeting on the application of the issuer for
stock issuance, and vote on whether or not the application of the issuer for stock issuance meets the relevant requirements.

Article 21

The convener of the IEC meeting shall, according to the relevant provisions of the CSRC, be responsible for convening the IEC meetings,
organize the IEC members to deliver their opinions or make discussions, summarize the examination opinion of the IEC, and organize
the voting and other relevant matters concerned.

After the IEC meeting is over, the IEC members attending the meeting shall sign their names for confirmation on the documents of the
meeting, including the records of the meeting, the examination opinions, the voting results and etc., and submit the working paper
at the same time.

Article 22

Before the formation of the examination opinion on the application of the issuer for stock issuance, the IEC meeting may invite the
representatives of the issuer and the recommendation representatives to the meeting to answer the inquiries of the IEC members.

Article 23

The IEC meeting shall only conduct one examination on the application of an issuer for stock issuance.

In case there is obvious disagreement between the examination opinion of the IEC meeting and the voting result, or the voting result
of the IEC meeting is apparently unjust, the CSRC may make investigation into it, and make a decision on whether or not to approve
it.

Article 24

The relevant functionary departments of the CSRC shall be responsible for organizing the IEC meeting, serving relevant examination
documents, recording down the discussions of the IEC meeting, drafting the summary of the IEC meeting, keeping the archives and other
concrete work.

Article 25

The IEC meeting may, in pursuance of the requirements of the examination work, invite other professional experts other than the IEC
members to attend the meeting and provide special consultation opinions. These experts outside the IEC have no voting rights.

Article 26

The IEC shall convene the plenary session at least once a year to summarize the examination work.

Section 2 Common Procedures

Article 27

The examinations of the IEC meeting on applications of the issuers for the public stock issuance and the applications for other securities
issuance as approved by the CSRC such as convertible company bonds shall be subject to the provisions of this section.

Article 28

The relevant functionary departments of the CSRC shall, 5 days before the IEC meeting is convened, serve the notice of the meeting,
the application documents for stock issuance and the preliminary examination report of the relevant functional departments of the
CSRC to the IEC members attending the meeting, and publicize on the website of the CSRC the name list of the issuers being examined
by the IEC, the time for the meeting, the commitment letter of the issuers as well as the name list of the IEC members attending
the meeting.

Article 29

The number of IEC members attending each IEC meeting shall be 7. If the consentient votes achieve 5, it may be deemed as a pass,
while if the consentient votes are less than 5, it will be deemed as a failure.

Article 30

Where any of the IEC members finds that there are still serious problems needed to be investigated and verified, which may affect
the impartial judgment, they may propose to suspend the voting in written form before the IEC meeting is held.

The IEC meeting shall first vote on whether or not to suspend the application for stock issuance. If there are 5 consentient votes,
the application for suspending the aforesaid stock issuance may be voted; otherwise, the IEC meeting shall examine the application
for the aforesaid stock issuance in accordance with the normal procedures.

When the application for issuance being suspended is submitted to the IEC meeting for examination once again, it shall be subject
to the examination of the original IEC in principle.

The IEC meeting can suspend the voting for the application of an issuer for stock issuance for only once.

Article 31

After the IEC meeting votes for the application of an issuer for stock issuance, the CSRC shall publicize the voting result on its
website.

The relevant functionary departments of the CSRC shall make written feedbacks to the recommenders as employed by the issuer the voting
result and the examination opinion as brought forward by the IEC meeting on the application of the issuer for stock issuance.

Article 32

Where an issuer has any major event inconsistent with the reported application documents for stock issuance after it passes the voting
of the IEC meeting on the application of the issuer for stock issuance and before the approval of the CSRC is obtained, the relevant
functionary departments of the CSRC may propose the IEC to convene an after-the-meeting IEC meeting to examine the application documents
of the issuer for stock issuance once again. The IEC members attending the after-the-meeting IEC meeting are not restricted by whether
or not they have conducted examination on the application of the issuer for stock issuance.

Section 3 Special Procedures

Article 33

The examinations of the IEC on the applications of listed companies for non-public stock issuance and the applications for other
non-public securities issuance as prescribed by the CSRC shall be subject to the provisions in this section.

Article 34

The relevant functionary departments of the CSRC shall, before an IEC meeting is convened, serve a notice of the meeting, the application
documents for stock issuance and the preliminary examination report of the relevant functionary departments of the CSRC to the IEC
members attending the meeting.

Article 35

The number of IEC members attending in each IEC meeting shall be 5. If the consentient votes achieve 3, it may be deemed as a pass,
while if the consentient votes are less than 3, it will be deemed as a failure.

Article 36

The IEC members shall not propose to suspend the voting on the applications of the listed companies for non-public stock issuance
or the applications for other non-public securities issuance as prescribed by the CSRC.

Article 37

The CSRC shall not publicize the name list of the issuers being examined at the IEC meeting, the time for the meeting, the commitment
letter of the issuers the name list of the IEC members attending the meeting or the voting result.

Chapter V Supervision over the Examination Work of the IEC

Article 38

The CSRC shall adopt an accountability system on the IEC. In case there is any obvious disagreement between the examination opinion
of the IEC meeting and the voting result, the CSRC may require all the IEC members attending the meeting to make explanations respectively.

Article 39

In case any IEC member commits any act violating the provisions of Article 13 of the present measures, or any other act in violation
of the working disciplines of the IEC such as failing to withdraw from attending the IEC meeting where he ought to do so and etc.,
the CSRC shall, in light of the severity of the circumstances, make conversation and reminding, criticize, dismiss or impose other
punishment on the member.

Article 40

The CSRC shall establish a reporting and supervising mechanism for the acts of the IEC members in violation of any law or discipline.

Where there is any clew or tip-off on an IEC member’s violation of any law or discipline, the CSRC shall make investigation into it,
and on the basis of the investigation conclusion, make conversation and reminding, criticize, dismiss or impose other punishments
on the member; in case the member is suspected of any crime, he shall be transferred to the department of justice for punishments.

Article 41

The CSRC may publicize its criticism on the IEC member through the news media.

Article 42

Where, before an IEC meeting is convened, there are evidences showing that the issuers or other relevant entities or individuals
have influenced directly or indirectly the judgment of the IEC members on the application of the issuer for stock issuance by illicit
means or disturbed the examination of the IEC members in any other form, the CSRC may suspend the examination of the IEC meeting
on the relevant issuers.

Where, after the application of an issuer for stock issuance is passed by the IEC meeting, there are evidences showing that the issuer
or other relevant entities or individuals have influenced directly or indirectly the judgment of the members of the IEC on the application
of the issuer for stock issuance by illicit means, or disturbed the examination of the IEC in any other form, the CSRC may suspend
the approval; in case the circumstances are serious, the CSRC shall not approve it.

Article 43

The recommendation institution of an issuer has the duty to urge the issuer to observe the relevant provisions of the present measures.
If the recommendation institution suborns, assists or participates in disturbing the work of the IEC, the CSRC shall not accept the
recommendation of the recommendation institution within 3 months in accordance with the relevant provisions.

Chapter VI Supplementary Provisions

Article 44

The present measures shall be implemented as of May 9, 2005. The Interim Measures for the Issuance Examination Committee of China
Securities Regulatory Commission (Order No. 16 of the CSRC) shall be abolished simultaneously.

China Securities Regulatory Commission
2006-05-09

NOTICE OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING TAX REFUND FOR THE EXPORT OF GOLD-CONTAINED PRODUCTS

Notice of the State Administration of Taxation on the relevant issues concerning Tax Refund for the Export of Gold-Contained Products

Guo Shui Han [2006] No. 481

The state taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities under
separate state planning:

After the distribution of the Supplementary Notice of the State Administration of Taxation on the relevant issues concerning Implementing
the Tax Exemption Policies for the Export of Gold-Contained Products (No. 10 [2006] of the State Administration of Taxation), some
regions reflect that some export products with the customs commodity code 3824909090 do not contain any gold or platinum gold and
request continuative implementation of the tax refunding (exemption) policies for the export of these products. Upon investigation,
we hereby notice of the relevant issues as follows:

As for the export of the following goods fallen under the customs commodity code 3824909090, the tax refunding (exemption) policies
for export shall be continuously executed..

colored particles, diatomite, mixed refrigerant, octadecenoic acid, o/p toluene sulphonic acid, UV powder, ichthammol, sucrose fatty
acid ester, shoe curing agent, non-hexavalent chromium acid involucra passivation solution, C18-16 mellow wine, azeotrope, coating
powder, aluminum polychlorid, synthetic hectorite layer clay, lufennoron cream, vegetal polysaccharides, and chemical anchoring bolt.

II.

The present Notice shall come into force as of May 1, 2005.

The State Administration of Taxation

May 23, 2006

State Administration of Taxation
2006-05-23

MEASURES OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA FOR ADMINISTRATION OF THE ORIGIN OF IMPORT GOODS UNDER THE SPECIAL PREFERENTIAL TARIFF TREATMENTS

Decree of the General Administration of Customs of the People’s Republic of China

No. 149

The Measures of the Customs of the People’s Republic of China for Administration of the Origin of Import Goods under the Special Preferential
Tariff Treatments were deliberated and adopted at the Executive Meeting of the General Administration of Customs on May 30, 2006
and are hereby promulgated, and shall come into force as of July 1, 2006. Provisions of the Customs of the People’s Republic of China
on the Implementation of the Rules of Origin of Goods under Special Preferential Tariff Treatments Given by the People’s Republic
of China to the Least-developed African Countries as promulgated as Decree No. 123 by the General Administration of Customs on December
30, 2004 shall be abolished simultaneously.

Mu Xinsheng, Director of the General Administration of Customs

May 31, 2006

Measures of the Customs of the People’s Republic of China for Administration of the Origin of Import Goods under the Special Preferential
Tariff Treatments

Article 1

The present Measures are formulated in accordance with the Customs Law of the People’s Republic of China, the Regulations of the
Origin of Imports and Exports of the People’s Republic of China, rules of origin of goods under the special preferential tariff treatments
of China as well as provisions of relevant laws and administrative regulations for the purposes of correctly determining the origin
of import goods under the special preferential tariff treatments and promoting the economic and trade contacts between China and
relevant countries.

Article 2

The present Measures shall apply to the goods which are imported from the beneficiary countries (see the name list in Appendix 1)
under special preferential tariff treatments. But goods imported in bond and for home use by means of processing trade shall be excluded.
Any change in the name list of beneficiary countries shall be otherwise promulgated by the General Administration of Customs.

Article 3

If the goods are directly imported from a beneficiary country and in accordance with one of the conditions as follows, their place
of origin shall be the said beneficiary country and the corresponding special preferential tariff rates provided in the Import and
Export Tariff Regulations of the People’s Republic of China (hereinafter referred to as Tariff Regulations) shall be applied.

(1)

entirely obtained from or manufactured in the beneficiary country; or

(2)

incompletely obtained from or manufactured in the beneficiary country but where the final substantial transformation is completed.

Article 4

Goods “entirely obtained from or manufactured in the beneficiary country” as mentioned in Item (1) of Article 3 of the present Measures
refer to:

(1)

The mineral products exploited and excavated from this country;

(2)

The plants or their products harvested from this country;

(3)

The live animals borne and raised in this country;

(4)

The products obtained from the animals of this country as mentioned in Item (3) of this Article;

(5)

The products obtained from hunting or fishing in this country;

(6)

The fish and other marine products obtained from the high seas by vessels registered in this country or lawfully flying the flag of
this country;

(7)

The products obtained from processing the articles as listed in Item (6) of this Article on the processing vessels registered in this
country or lawfully flying the flag of this country;

(8)

The waste and old articles that are gathered in the course of consumption in this country and that can only be suited to recycling
of raw materials;

(9)

The waste and piecemeal materials that are generated in the course of production in this country and that can only be suited to recycling
of raw materials; or

(10)

The products obtained from processing the articles as listed in Items (1) to (9) of this Article within this country.

Article 5

Any of the following types of minor processing or treatment, no matter whetherer it is completed independently or together with the
others, may not affect the determination on whether the products are entirely obtained from or produced in a country or not:

(1)

The processing or treating carried out in order to preserve the goods during transportation or storage;

(2)

The processing or treating carried out to facilitate the loading and unloading of the goods; or

(3)

The packing, exhibiting and other types of processing or treating carried out in order to sell the goods.

Article 6

The criteria on the determination of “substantial transformation” specified in Item (2) of Article 3 of the present Measures shall
be the criterion of “the change in tariff item classification” or the criterion of “ad valorem percentage”.

(1)

The criterion of “the change in tariff item classification” means that, the tariff code in the Tariff Regulations of the raw materials
which do not originate from the beneficiary country used during the production or processing of goods in the said country is any
code other than the 4-digit tariff code of the aforesaid goods.

(2)

The criterion of “ad valorem percentage” means that, following the manufacturing and processing in the beneficiary country using materials
which do not originate from the said country, the value added portion may not be less than 40% of the resulting goods. The calculating
formula shall be:

Price of Goods * Price of Materials Not Originating from the Beneficiary Country

100%0%

Price of Goods

“Price of Goods” refers to the price of FOB which, no matter what way the goods shall be transported, shall always be the price at
the final port of shipment or site.

“Price of Materials Not Originating from the Beneficiary Country” refers to the price of the materials used by the manufacturers which
do not originate from the beneficiary country, including the import costs as well as the insurance and freight for transporting them
to the port of destination or site.

The calculation of the above-mentioned “ad valorem percentage” shall comply with the universally acknowledged accounting rules as
well as the Customs Evaluation Agreement.

Article 7

The simple dilution, mix, packing, bottling, drying, assembly, classification or decoration may not be deemed as substantial transformation.
Any production or pricing measures, made by enterprises for the purpose of circumventing the present Measures, may not be deemed
as substantial transformation.

Article 8

In the determination of the origin of goods, the origin of the energy, workshops, equipment, machines and tools employed during the
production course of goods, as well as the origin of the materials that are employed during the production course but do not constitute
any component or constituent part of the goods, may not affect the determination of the origin of goods.

Article 9

The origin of the packages, packing materials and containers that are declared and uniformly classified into the same category of
the goods under the Tariff Regulations together with that of the accessories, spare parts, tools and introductory materials with
which the said goods are regularly accompanied, may not affect the determination of the origin of the goods.

Article 10

The imported goods that are to declare the special preferential tariff treatments shall be transported directly from the beneficiary
country into the territories of China without transiting a third country (region) apart from China and the beneficiary country (hereafter
referred to as a third country (region)).

As regards goods which transit a third country (region) into the territories of China, if the following conditions are satisfied,
it will be deemed as direct transportation:

(1)

merely for the geographical reason or for the need of transportation;

(2)

except for loading, unloading and other necessary work to keep the goods in good condition or for transportation, the goods haven’t
undergone any other type of processing when transiting a third country (region), and

(3)

the goods don’t enter a third country (region) for trade or consumption.

Article 11

When declaring goods under the special preferential tariff treatments, the consignee of imports shall offer the following documents
to the entry Customs:

(1)

A certificate of origin issued by an issuance institution of a beneficiary country bearing the seal of the Customs of the country
when exporting the goods (see the format in Appendix 2);

(2)

Through Bill of Lading issued by the beneficiary country or that issued by other countries (regions) as the departure station of international
through transport; and

(3)

The original invoice of the goods issued by the beneficiary country.

As regards imported goods transiting a third country (region), relevant documents that, according to the Customs of China, are necessary
to certify that the provisions specified in Item (2) of Article 10 are satisfied shall be offered.

Article 12

The certificate of origin offered by the consignee of imports to the Customs, shall be issued by an official institution of a beneficiary
country and shall be valid for a period of 180 days as of the date of issuance.

The certificate of origin shall be printed on A4 paper, and the words on the face shall be in English. A certificate of origin shall
consist of 1 original and 3 duplicates: color of the original shall be apricot cream and that of the duplicates light green. The
duplicates include the second duplicate, the third duplicate and the fourth. The second duplicate shall be prepared for the verification
where the Customs of the People’s Republic of China considers necessary, the third duplicate shall be kept by the issuance institution
of the export country and the fourth duplicate shall be kept by the exporter. When declaring the goods, the consignee of imports
shall offer the original certificate of origin and the second duplicate to the entry Customs.

The name and address of the issuance institution of the certificate of origin as well as the seal and the pattern hereof shall be
kept for record by the General Administration of Customs of the People’s Republic of China.

Article 13

When declaring the import goods, the consignee of import goods shall, on its own initiative, declare to the Customs that the relevant
goods are under the special preferential tariff and shall submit the certificate of origin bearing the seal of the Customs of the
export country. The entry Customs shall in line with files on record by the beneficiary country, verify the certificate of origin
of relevant goods, and permit the import goods to enjoy the special preferential tariff upon the strength of the valid certificate
of origin and relevant documents.

Article 14

When having any doubt about the authenticity of the certificate of origin, the General Administration of Customs of the People’s
Republic of China or its authorized institution may, via the economic and commercial counselor’s office of the embassy or consulate
of China based in the corresponding beneficiary country, require the Customs of the beneficiary country or the original issuance
institution of the certificate of origin to conduct verification, and to offer a reply within 90 days as from the day when it receives
the verification request. If the Customs of the beneficiary country or the original issuance institution of the certificate of origin
fails to offer a reply within 90 days, the goods may not enjoy the special preferential tariff treatments.

During the period of waiting for the result of verification of the certificate of origin of the beneficiary country, the entry Customs
may, at the request of the consignee of imports, release the goods after it charges a sum of security deposit equivalent to the amount
of tariff calculated under the most favored nation tariff rate applicable to the goods, and it shall handle the import procedures
in accordance with the relevant provisions and complete the corresponding statistical work of the Customs. After the Customs of the
export country or the issuance institution of the certificate of origin completes the verification, the entry Customs shall, in accordance
with the verification result, promptly handle the formalities for refunding the security deposit or converting the security deposit
to the import Customs tariff, and make correct the relevant statistic data. As for import goods on which the State place restrictions
or those suspected of being against the law, the Customs may not release the goods before the verification of the certificate of
origin comes to an end.

Article 15

The Customs shall have the obligation to maintain in confidence the trade secrets they obtained on the condition of being in compliance
with the provisions of the present Measures. Without the coonsignee’s consent, the Customs may not reveal or put these secrets into
other use, except as otherwise provided by law, administrative regulations and relevant judicial interpretation.

Article 16

Anyone who violates the present Measures shall be punished in accordance with the Customs Law of the People’s Republic of China,
and the Regulations on the Implementation of the Administrative Punishments of the Customs of People’s Republic of China and other
relevant laws and administrative regulations. If any crime is constituted, he shall be subject to the criminal liabilities according
to law.

Article 17

Definitions of the following terms as mentioned in the present Measures:

The “beneficiary country” refers to the country or region with whom China has signed exchange of notes concerning special preferential
tariff treatments.

“Customs Evaluation Agreement” refers to the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade
1994, which serves as part of Marrakech Agreement Establishing the World Trade Organization.

The “materials” refer to components, spare parts, constituent parts, semi-assembly, etc. that have actually constituted part of another
product or has been used in the production course of another product.

The “production” refers to the ways of obtaining products, including planting, exploiting, harvesting, fishing, entrapping, hunting,
manufacturing, producing, processing or assembling of the products.

Article 18

The power to interpret the present Measures shall remain with the General Administration of Customs of the People’s Republic of China.

Article 19

The present Measures shall be implemented as of July 1, 2006. Provisions of the Customs of the People’s Republic of China on the
Implementation of the Rules of Origin of Goods under Special Preferential Tariff Treatments Given by the People’s Republic of China
to the Least-developed African Countries as promulgated as Decree No. 123 by the General Administration of Customs on December 30,
2004 shall be abolished simultaneously.

Appendix:

1. Name List of the Beneficiary Countries (Omitted)

2. Format of Certificates of Origin (Omitted)

The General Administration of Customs
2006-05-31

MEASURES OF THE GENERAL ADMINISTRATION OF CUSTOMS FOR NETWORKED SUPERVISION AND ADMINISTRATION OF PROCESSING TRADE ENTERPRISES

Decree No. 105 of the General Administration of Customs of the People’s Republic of China

No. 105

The Measures of the General Administration of Customs for Cyber-Supervision and Administration of Processing Trade Enterprises, which
were discussed and adopted at the executive meeting of the General Administration of Customs on May 30, 2006, are hereby promulgated,
and shall come into force on August 1, 2006. “Measures of the Customs of the People’s Republic of China on Applying Computer Networked
Surveillance to Processing Trade Enterprises” promulgated by the General Administration of Customs in its No. 100 Decree on March
19, 2003 shall be abolished simultaneously.

Mu Xinsheng, Director General

June 14, 2006

Measures of the General Administration of Customs for Networked Supervision and Administration of Processing Trade Enterprises

Article 1

For the purpose of regulating the customs’ administration of processing trade enterprises, these measures are formulated in accordance
with the provisions of the Customs Law of the People’s Republic of China and other relative laws, administrative laws and regulations.

Article 2

The customs’ networked Supervision and administration of processing trade enterprises refers to a mode of the customs’ supervision
and administration of processing trade by which the processing trade enterprises report to the customs the data of logistics, production,
operation, etc. meeting with the customs’ requirements via data exchange network or other computer network, and by which the customs
checks, calculates and verifies the data according to real objects.

Article 3

A processing trade enterprise conducting networked Supervision and administration (hereinafter referred to as networked-enterprise)
shall satisfy the following requirements:

To have qualifications for processing trade business;

To be registered with the customs;

To be a production enterprise.

These measures do not apply to the processing trade enterprises within the areas under the customs’ special supervision and administration
and bonded supervision and administration places.

Article 4

Any processing trade enterprise that needs networked Supervision and administration may submit an application to the authorized customs.
After examination and verification, the customs shall carry out networked Supervision and administration to the enterprise if it
meets the requirements as stipulated in Article 3 of these measures.

Article 5

A networked-enterprise shall conduct its identity attestation for networked Supervision and administration of processing trade before
reporting the data to the customs via the data exchange network or other computer networks.

Article 6

A networked-enterprise shall report to the authorized customs the inventory list of materials to be imported, finished products to
be exported and the corresponding number of the commodities needed for processing trade business. If necessary, corresponding materials
shall also be provided for confirming the number of the commodities according to the customs’ requirements.

The authorized customs shall, in light of the needs of supervision and administration and according to the requirements of the name
and code of the commodities, and calculation unit, merge the commodities subject to grade of material number with the commodities
subject to grade of item number or divide them, establishing a corresponding relationship of one-to-many or many-to-one.

Article 7

A networked-enterprise shall, before the import of the materials and the export of the finished products, go through separately record
and change formalities in the customs for the materials to be imported and the finished products to be exported.

A networked-enterprise shall go through record and change formalities for per- unit-cost according to relative rules of the General
Administration of the Customs.

Article 8

The customs shall, according to the materials for record submitted by the networked-enterprise, establish an electronic account and
carry out administration of the electronic account to the networked-enterprises. The electronic account includes electronic account
book and electronic handbook.

The electronic account book is an electronic account, regarding an enterprise as a unit, established by the customs for a networked-enterprise.
The networked-enterprise conducting the administration of electronic account book shall establish only one such account book. The
customs shall, according to the production status of the enterprise and the needs of the customs’ verification and administration,
set the period for the cancellation after verification, and carry out the administration of cancellation after verification to the
networked-enterprise conducting administration of electronic account book.

The electronic handbook is an electronic account, regarding the processing trade contract as a unit, established by the customs for
a networked-enterprise. The networked-enterprise conducting the administration of electronic handbook shall establish an electronic
handbook for each processing trade contract. The customs shall, according to the period of validity of the processing trade contract,
set the date for the cancellation after verification, and carry out the administration of periodic cancellation after verification
to the networked-enterprise conducting electronic handbook administration.

Article 9

A networked-enterprise shall report the data of the logistics, stock and production control of processing trade commodities and other
dynamic data meeting the needs of the customs supervision and administration.

Article 10

An authorized customs record system is carried out for outward-processing of a networked-enterprise. A processing trade enterprise
shall, before outward processing, register for a record in the authorized customs the name of the enterprise undertaking the outward-processing,
name of the commodities and turnover quantity.

Article 11

The customs may check the networked-enterprise by data verification and spot check in the factory. The check in the factory includes
special check and stock-taking check.

Article 12

A networked-enterprise may, upon approval by the authorized customs, handle duty repayment for domestic sales monthly. A networked-enterprise
shall handle duty repayment for domestic sales in the same month after selling processing trade commodities in domestic market.

Article 13

A networked-enterprise shall pay the interests of delayed payment of duties to the customs in accordance with rules after selling
the processing trade commodities in domestic market.

The starting date to pay the interests of delayed payment of duties shall be set according to the following measures:

For the enterprise conducting electronic handbook administration, the starting date shall be the date of the import of the first lot
of materials under the processing trade contract to which the materials or finished products for domestic sales are corresponding;

For the enterprise conducting electronic account book administration, the starting date shall be the latest date for cancellation
after verification of the electronic account book to which the materials or finished products for domestic sales are corresponding.
If the date for cancellation after verification is not available, the starting date shall be that of the import of the first lot
of materials in the electronic account book to which the materials or finished products for domestic sales are corresponding.

The expiry date to pay the interests of delayed payment of duties shall be the date that the customs issues the duty payment book.

Article 14

A networked-enterprise shall apply for verification within 30 days from the ending date set by the customs for cancellation after
verification. If the application for verification fails to be submitted with proper reasons within the time limit, the period may
be prolonged with the approval of the authorized customs, but the extension may not exceed 60 days.

Article 15

A networked-enterprise shall inform the customs before stock-taking. The customs may, integrating with the enterprise’s stock-taking,
carry out verification and cancellation.

The customs shall, while integrating the stock-taking to carry out the verification and cancellation, compare the calculation of the
electronic account with the real stock of the networked-enterprise and handle them separately as follows:

If the real stock is more than the calculation of the electronic account, the customs shall adjust current balance of the electronic
account according to real stock;

If the real stock is less than the calculation of the electronic account and the networked-enterprise may give proper reasons, the
customs shall order the networked-enterprise to apply for domestic dales to the shortage;

If the real stock is less than the calculation of the electronic account and the networked-enterprise fails to give proper reasons,
the customs may order the networked-enterprise to apply for domestic sales to the shortage, and may also punish it according to the
Implementation Regulations of the General Administration of Customs of the People’s Republic of China for Administrative Punishment.

Article 16

The customs may ask the networked-enterprise to provide margin or bank’s Letter of Guarantee as form of guarantee if the networked-enterprise
is in one of following circumstances:

The enterprise’s administrative classification is adjusted to a lower grade;

The data to the customs according to the facts has not been submitted;

Refuse to provide corresponding account book, bills and certificates and data while the customs is carrying out the verification and
cancellation;

Do not apply for the verification to the customs within the time limit;

Do not establish an account book according to the customs’ request, account management is in chaos or accounts are not in order.

Article 17

Whoever violates these measures and commits a crime of smuggling or violates the customs’ rules on supervision and administration
shall be handled by the customs according to relative provisions of the Customs Law of the People’s Republic of China and the Implementation
Regulations of the General Administration of Customs of the People’s Republic of China for Administrative Punishment. Whoever commits
a crime shall be ascertained criminal liabilities.

Article 18

For the purpose of these measures:

“Electronic account” refers to the electronic data base established by the customs for a networked-enterprise according to its application
for noting down the information of processing trade record, import and export, verification and cancellation and etc.

“Special check” refers to the verification carried out by the customs to a networked-enterprise on one or more contents in light of
the needs of verification and administration.

“Stock-taking check” refers to a mode of verification and administration that the customs carries out material objects verification
and data check to part of bonded commodities within a certain period while a networked-enterprise is conducting stock-taking.

Article 19

The interpretation of the said measures shall be vested in the General Administration of Customs.

Article 20

These measures shall be implemented on August 1, 2006. The Measures of the General Administration of Customs for Networked Supervision
and Administration of Processing Trade Enterprises promulgated by the General Administration of Customs in its No. 100 Decree on
March 19, 2003 shall be abolished simultaneously.

General Administration of Customs
2006-06-14

ANNOUNCEMENT NO.35, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS ON COLLECTING ANTI-DUMPING DUTY ON EPICHLOROHYDRIN (ECH) ORIGINATING FROM RUSSIA, THE REPUBLIC OF KOREA, JAPAN AND THE UNITED STATES

Announcement No.35, 2006 of the General Administration of Customs on Collecting Anti-dumping Duty on Epichlorohydrin (ECH) Originating
from Russia, the Republic of Korea, Japan and the United States [2006] No. 35

In accordance with Anti-dumping Regulations of the People’s Republic of China, the Tariff Committee of the State Council decides to
collect anti-dumping duties on imported epichlorohydrin (ECH) originating from Russia, the Republic of Korea, Japan and the United
States as from June 28, 2006, and the duration of the collection shall be 5 years. The Ministry of Commerce specially released Announcement
No.44, 2006 (see Appendix 1 for details) therefor. Related matters in implementation are announced as follows: 1. As from June 28, 2006, related departments shall impose anti-dumping duties and value-added tax in the linkage of import, besides
import duties in line with current regulations, on imported ECH originating from Russia, the Republic of Korea, Japan and the United
States in line with tax rates listed in Appendix 2 of this Announcement and the following computing formulas, different suppliers
with different tax rates:

Anti-dumping duties = price after duties * anti-dumping rate

Value-added tax in the linkage of import = (price after duties + duties + anti-dumping duty) * rate of value-added tax in the linkage
of import

See Appendix 1 for detailed description of goods on which anti-dumping duties shall be imposed. 2. Importers must provide certificate of origin to the Customs for import of ECH; in case the goods are from Russia, the Republic of
Korea, Japan or the United States, commercial invoices from the original manufacturers shall be required as well. For those who cannot
provide the certificate of origin and have failed to assure that the goods are from Russia, the Republic of Korea, Japan or the United
States after investigation, the Customs shall collect the anti-dumping duties in accordance with the highest rate of anti-dumping
rate listed in Appendix 2. In case the goods are from Russia, the Republic of Korea, Japan or the United States, but import operators
cannot provide commercial invoices from the original manufacturers, the Customs shall collect the anti-dumping duties in accordance
with the rate of anti-dumping rate applied to other companies of relevant countries listed in Appendix 2. 3. As to issues on the collection of anti-dumping duties on ECH originating from Russia, the Republic of Korea, Japan and the United
States of processing trade bonded import, the Customs shall carry out the collection in accordance with Announcement No.9, 2001 of
General Administration of Customs of the People’s Republic of China and Decree No.11 of General Administration of Customs of the
People’s Republic of China. 4. If importers have imported ECH originating from Russia, the Republic of Korea, Japan and the United States and paid anti-dumping deposit
after the implementation of provisional anti-dumping measures, the anti-dumping deposit shall be calculated in line with the scope
of goods and anti-dumping rate specified in this Announcement. The anti-dumping deposit shall be transferred to be anti-dumping duties;
the deposit of value-added tax in the linkage of import shall be transferred to be value-added tax in the linkage of import as well.
Related enterprises may ask the Customs in the place of the collection for refund of excess within 6 months as from Jun 28, 2006.
The insufficient section shall be exempted. 5. When encountering the same or similar goods on which the Customs cannot make sure whether to impose anti-dumping duties on or not
in the process of collecting anti-dumping duties of the import ECH, please apply to the Ministry of Commerce for judgment. The Customs
shall act in accordance with judgment thereof.

Specially announced hereby

Appendix: 1. Announcement No.44, 2006 of the Ministry of Commerce of the People’s Republic of China (omitted) 2. Form of Anti-dumping Rate of Epichlorohydrin (ECH) General Administration of Customs June 27, 2006

Appendix 2

Form of Anti-dumping Rate of Epichlorohydrin (ECH)

State of Origin	Name of Companies	Anti-dumping Rate
Russia	The Joint Stock Company Kaustik	17.9%
	Limited Liability Company Usoliekhimprom	5.4%
	Other Russian Companies	71.5%
ROK	HAN WHA CHEMICAL CORPORATION	4.0%
	Samsung Fine Chemicals Co., LTD	3.8%
	Other Companies from the Republic of Korea	71.5%
Japan	Kashima Chemical Co., Ltd.	4.7%
	DAISO CO., LTD.	0%
	Other Japanese Companies	71.5%
US	The Dow Chemical Company	4.3%
US	Other American Companies	71.5%

General Administration of Customs
2006-06-27

CIRCULAR OF CHINA INSURANCE REGULATORY COMMISSION CONCERNING REGULATING THE ADMINISTRATION ON PREMIUM RATES IN THE INSURANCE CLAUSES OF COMMERCIAL MOTOR VEHICLES

Circular of China Insurance Regulatory Commission concerning Regulating the Administration on Premium Rates in the Insurance Clauses
of Commercial Motor Vehicles

Bao Jian Fa [2006] No. 75
July 4, 2006

Each property insurance company, each insurance regulatory body and China Insurance Association,

The Regulation on Compulsory Traffic Accident Liability Insurance for Motor Vehicles (hereinafter referred to as compulsory traffic
insurance) implemented as of July 1, 2006 is conducive to promoting a faithful and sound business operation of the property insurance
sector, is conducive to promoting a healthy development of the insurance industry and is conducive to promoting the social harmony
and stability. Each insurance company shall grasp this good chance, actively promote product innovation and unremittingly improve
the product system so as to ensure a smooth transition between the commercial motor vehicle insurance and the compulsory traffic
insurance as well as a sustainable, quick and sound development of the property insurance sector. We hereby give the notice about
related matters as follows:

An insurance company shall develop the commercial motor vehicle insurance products on the compulsory traffic insurance in time. The
principles of compensation for commercial motor vehicle insurance shall abide by the related provisions of the Law of the Peoples
Republic of China on Road Traffic Safety. Particularly, an insurance company shall develop products of the third party liability
insurance for commercial motor vehicles beyond the maximum amounts of compensation in sub-items under the compulsory traffic insurance,
whose structure of premium rates shall be basically consistent with the compulsory traffic insurance and in which the specific vehicle
types can be further sub-divided.

China Insurance Association may develop the basic premium rates in insurance clauses for the sector of commercial motor vehicle insurance
(hereinafter referred to as the premium rate of the Association). An insurance company may, in accordance with the real situation,
choose the present premium rate of the Association in force or develop new ones by itself. If the premium rate of the Association
is selected, any alteration may not be made thereon and any random portfolio may not be made among different sets of premium rates
of the Association, but supplementary motor vehicle insurance products can be developed in light of the premium rates of the Association.

If an insurance company or China Insurance Association makes an application for any premium rate for the insurance clause of commercial
motor vehicles, it shall satisfy the requirements of the laws and regulations as well as industrial norms. The application materials
shall be complete and accurate. Such items as data basis, actuarial method and proceeding shall be indicated in the actuarial report
so as to ensure that the premium rates are both scientific and reasonable. The setting of processing fees and any other surcharge
rates shall be reasonable and proper, and the specific standards shall be clearly indicated. The rating standards for the processing
fees may differ according to product categories and sales channels. The processing fee rate per policy for a same product category
or sales channel may not go beyond the standards described in the actuarial report.

The interval period for an insurance company or China Insurance Association to make an application for adjusting the clause premium
rates shall be at least 6 months. Particularly, to adjust the premium rate of the Association, an application shall be filed by China
Insurance Association with China Insurance Regulatory Commission. An insurance company may, upon approval of China Insurance Regulatory
Commission, choose the premium rate at its own will. If an insurance company needs to continue the premium rate of the Association
before adjustment, a new application shall be filed with China Insurance Regulatory Commission as a self-developed product.

Each branch and sub-branch of an insurance company shall implement the premium rates of insurance clauses of commercial motor vehicles
as approved by China Insurance Regulatory Commission and may not change it unlawfully. Since July 1st, 2006, the insurance regulatory
bodies may not accept the application of any branch or sub-branch of an insurance company for adjusting the premium rate of motor
vehicles.

When issuing and distributing any insurance policy, the insurance company shall provide the related insurance clauses to the insurance
purchaser. Since October 1, 2006, where an insurance company provides any insurance clause to any insurance purchaser, the related
clause serial number as approved by China Insurance Regulatory Commission shall be indicated after the clause name.

Since July 1, 2006, an insurance company shall use the new commercial motor vehicle insurance products which are related to the compulsory
traffic insurance as approved by China Insurance Regulatory Commission. It shall cease the sale of the original motor vehicle insurance
products.

The present Circular shall enter into force as of the distribution date. Any matter that has not been indicated herein shall be implemented
in accordance with the Measures concerning the Administration of Insurance Clauses and Premium Rates of Property Insurance Companies
and the related provisions.

China Insurance Regulatory Commission
2006-07-04

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German Laws

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

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

SUPPLEMENTARY CIRCULAR OF THE MINISTRY OF FINANCE ON PRINTING AND DISTRIBUTING THE MEASURES FOR THE PAYMENT OF FEES FOR TAX-FREE COMMODITY FRANCHISES

ADMINISTRATIVE MEASURES FOR THE EXAMINATION AND APPROVAL OF PERMANENT REPRESENTATIVE OFFICES OF FOREIGN AIR TRANSPORT ENTERPRISES

CIRCULAR OF PBC, CBRC AND SAFE ON PROMULGATING THE INTERIM MEASURES FOR THE ADMINISTRATION OF COMMERCIAL BANKS PROVIDING OVERSEAS FINANCIAL MANAGEMENT SERVICES

NOTICE OF CHINA INSURANCE REGULATORY COMMISSION ON CLARIFYING THE COMPOSITION OF COMMISSIONS OF INSURANCE SALESMEN

MEASURES FOR THE ISSUANCE EXAMINATION COMMITTEE OF CHINA SECURITIES REGULATORY COMMISSION

NOTICE OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING TAX REFUND FOR THE EXPORT OF GOLD-CONTAINED PRODUCTS

MEASURES OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA FOR ADMINISTRATION OF THE ORIGIN OF IMPORT GOODS UNDER THE SPECIAL PREFERENTIAL TARIFF TREATMENTS

MEASURES OF THE GENERAL ADMINISTRATION OF CUSTOMS FOR NETWORKED SUPERVISION AND ADMINISTRATION OF PROCESSING TRADE ENTERPRISES

ANNOUNCEMENT NO.35, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS ON COLLECTING ANTI-DUMPING DUTY ON EPICHLOROHYDRIN (ECH) ORIGINATING FROM RUSSIA, THE REPUBLIC OF KOREA, JAPAN AND THE UNITED STATES

CIRCULAR OF CHINA INSURANCE REGULATORY COMMISSION CONCERNING REGULATING THE ADMINISTRATION ON PREMIUM RATES IN THE INSURANCE CLAUSES OF COMMERCIAL MOTOR VEHICLES

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