ANNOUNCEMENT NO.58, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA CONCERNING IMPOSING ANTI-DUMPING DUTY ON IMPORTED SPANDEX ORIGINATING FROM JAPAN, SINGAPORE, SOUTH KOREA, TAIWAN REGION AND THE UNITED STATES

Announcement No.58, 2006 of the General Administration of Customs of the People’s Republic of China concerning Imposing Anti-dumping
Duty on Imported Spandex Originating from Japan, Singapore, South Korea, Taiwan Region and the United States

[2006] No. 58

In accordance with Anti-dumping Regulations of the People’s Republic of China, Customs Tariff Commission of the State Council decided
to levy, as from October 13, 2006, anti-dumping duty on imported spandex originating from Japan, Singapore, South Korea, Taiwan Region
and the United States over a span of five years. Ministry of Commerce released Announcement No.74, 2006 of Ministry of Commerce (See
Appendix 1 for details). Related matters are hereby announced as follows:

As from October 13, 2006, besides import tariff in line with the current regulations, anti-dumping duty and value-added tax of import
on imported spandex (Tariff No.: 54024920, 54026920) originating from Japan, Singapore, South Korea, Taiwan Region and the United
States shall be levied in line with applicable rates regulated in Appendix 2 and the calculating formula as follows, different suppliers
with different rates of anti-dumping duty:

Amount of Anti-dumping Duty = Price after Customs Duty * Rate of Anti-dumping Duty

Amount of Value-added Tax of Import = (Price after Customs Duty + Amount of Tariff + Amount of Anti-dumping Duty) * Rate of Value-added
Tax of Import

As regards the details of taxable commodities of anti-dumping duty, see Appendix 1.

Importers must provide certificate of origin to the Customs for import of spandex; in case the commodities are from Japan, Singapore,
South Korea, Taiwan Region and the United States, commercial invoices from the original manufacturers shall be required as well.
For those who cannot provide the certificate of origin, the Customs shall impose an anti-dumping duty in accordance with the highest
rate of anti-dumping duty as listed in Appendix 2 when failing to assure that the commodities are from Japan, Singapore, South Korea,
Taiwan Region and the United States after investigation. In case the commodities are from Japan, Singapore, South Korea, Taiwan Region
and the United States, but import operators cannot provide commercial invoices from the original manufacturers, the Customs shall
levy an anti-dumping duty in accordance with rate of anti-dumping duty of other companies of relevant countries as listed in Appendix
2.

Related issues on anti-dumping duty on spandex originating from Japan, Singapore, South Korea, Taiwan Region and the United States,
of processing trade bonded import shall be subject to Announcement No.9, 2001 of General Administration of Customs of the People’s
Republic of China and Decree No.111 of General Administration of Customs of the People’s Republic of China.

The anti-dumping deposits that have been paid for imported spandex originating from Japan, Singapore, South Korea, Taiwan Region and
the United States shall be calculated and levied as anti-dumping duty in line with the scope of commodities that are subject to anti-dumping
duty and the rate of anti-dumping duty as regulated in this announcement, and the value-added tax of import paid together with them
shall be turned into value-added tax of import. As for the sum the abovementioned deposits surpasses the anti-dumping duty and corresponding
value-added tax of import calculated in accordance with the rate as listed in this announcement, related units may make an application
to the levying customs for return as from October 13, 2006 while the shortfall sum shall not be levied.

During valid period of imposing anti-dumping duty on imported spandex, if encountering the same or similar commodities which the Customs
cannot make sure whether to impose an antidumping duty on or not, related units shall apply to Ministry of Commerce for judgment.
The Customs shall act in accordance with judgment of Ministry of Commerce.

Appendix:

Announcement No.74, 2006 of Ministry of Commerce of the People’s Republic of China

Form of Rate of Anti-dumping Duty of Spandex

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

Oct 12, 2006

General Administration of Customs of the People’s Republic of China
2006-10-12

CIRCULAR OF THE PEOPLE’S BANK OF CHINA, SHANGHAI HEAD OFFICE, CONCERNING SURVEYING SWIFT AND OTHER METHODS OF SETTLING CROSS-BORDER CAPITALS

Circular of the People’s Bank of China, Shanghai Head Office, concerning Surveying SWIFT and Other Methods of Settling Cross-border
Capitals

Bank of Communications, all policy banks, state-owned commercial banks, Shanghai branches of all joint stock commercial banks, Shanghai
Pudong Development Bank, Bank of Shanghai, Shanghai Rural Commercial Bank, all foreign-funded commercial banks in Shanghai:

For the purpose of further knowing the methods of settling cross-border capitals, master the methods of transmitting cross-border
capital transaction messages and the amount of transactions, a special survey concerning the methods of settling cross-border capitals
has been decided to implement, and some relevant matters are hereby notified to you as follows:

Contents of Survey:

A summary of the application of SWIFT in each entity, mainly including:

time of joining SWIFT;

management structure of intra-bank SWIFT;

use of the SWIFT software;

information about the SWIFT message transmission system of the head office and of the branches, and whether the branch handles transactions
through the head office’s uniform external terminus of SWIFT or through its own independent external terminus of SWIFT;

information on transmission of messages for settlement of other cross-border capitals; and

scale of the SWIFT transactions, as well as the types and structure of the messages (see Attached Tables 1 and 2 for details).

II.

Arrangements and Requirements of the Survey:

All entities shall implement detailed survey and analysis with respect to the aforesaid contents, and make written materials on the
surveyed contents.

For the purpose of making statistics on the methods of transmitting cross-border capital transaction messages and the scale of transaction,
Questionnaire on Transmission of Cross-border Capital Transaction Messages (Attached Table 1) has been designed, as well as the Questionnaire
on the Types and Structure of SWIFT Messages (Attached Table 2), and the Name List of Contact Persons of the SWIFT Management Department
(Attached Table 3). All entities are required to carefully fill in the tables with the statistical information according to the instructions.

The written survey materials and questionnaires shall be simultaneously reported to No. 2 Financial Service Department of the Head
Office (Anti-money Laundering Division) in paper or electronic form by November 10, 2006.

Submission Address: Suite 1410, No. 181, Lujiazui East Road.

Contact Person: Zhou Jing

Tel: 58845083

Fax: 58845037

E-mail: zhoujing@sh.pbc.gov.cn

Appendixes:

Questionnaire on Transmission of Cross-border Capital Transaction Messages (Attached Table 1)

Questionnaire on the Types and Structure of SWIFT Messages (Attached Table 2)

Name List of Contact Persons of the SWIFT Management Department (Attached Table 3)

People’s Bank of China, Shanghai Head Office

October 26, 2006

People’s Bank of China, Shanghai Head Office
2006-10-26

CIRCULAR OF SHANGHAI BRANCH OF THE PEOPLE’S BANK OF CHINA ON TRANSMITTING THE CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON RAISING THE RATE OF RENMINBI DEPOSIT RESERVE

Circular of Shanghai Branch of the People’s Bank of China on Transmitting the “Circular of the People’s Bank of China on Raising the
Rate of Renminbi Deposit Reserve”

Shanghai Yin Fa [2006] No. 238

Bank of Shanghai, Shanghai Rural Commercial Bank, all finance corporations in Shanghai, all foreign-funded banks engaging in Renminbi
business in Shanghai,

We hereby transmit the “Circular of the People’s Bank of China on Raising the Rate of Renminbi Deposit Reserve” ([2006] No. 383) to
you, and relevant matters are expressed as follows. Please abide by and implement it strictly.

As of November 15, 2006, the Bank of Shanghai, all finance corporations in Shanghai and all foreign-funded banks engaging in Renminbi
business in Shanghai shall execute the rate of Renminbi deposit reserve of 9%.

II.

Shanghai Rural Commercial Bank shall still execute the rate of Renminbi deposit reserve of 6% temporarily.

III.

All financial institutions shall, in light of the requirement of the present Circular, reasonably adjust your structure of assets
and liabilities, intensify liquidity management, and timely do a good job in depositing Renminbi deposit reserves as well as in submitting
relevant statements and materials.

Attachment: Circular of the People’s Bank of China on Raising the Rate of Renminbi Deposit Reserve (Yin Fa [2006] No. 383)

Shanghai Branch of the People’s Bank of China

November 3, 2006
Attachment:
Circular of the People’s Bank of China on Raising the Rate of Renminbi Deposit Reserve

Yin Fa [2006] No. 383

Shanghai Head Office, all branches, business management departments, central sub-branches in provincial capital cities and Shenzhen
central sub-branch of the People’s Bank of China, all policy banks, state-owned commercial banks and joint stock commercial banks,

With a view to intensifying the liquidity management of banking sector, reasonably control the aggregate amount of monetary credit,
the People’s Bank of China has decided upon the approval of the State Council to raise the rate of Renminbi deposit reserve as of
November 15, 2006. Hereby relevant matters are noticed as follows,

The rate of deposit reserve of 8.5%, which is executed at present by the Agricultural Development Bank of China, state-owned commercial
banks, joint stock commercial banks, urban commercial banks, rural commercial banks, finance corporations, financial leasing companies
as well as relevant foreign-funded financial institutions, shall be changed into 9%.

II.

The rate of deposit reserve of 7.5%, which is executed at present by rural cooperative banks, shall be changed into 8%.

III.

The rate of deposit reserve of 7%, which is executed at present by urban credit cooperatives, shall be changed into 7.5%.

IV.

The rate of deposit reserve of 6%, which is executed at present by rural credit cooperatives, shall be changed into 6.5%.

The rate of deposit reserve of 9%, which is executed at present by financial institutions as required by the differential rate of
deposit reserve system, shall be altered to 9.5%.

All relevant financial institutions shall, in light of the requirements of the present Circular, timely make relevant preparations,
reasonably adjust your structure of assets and liabilities and fulfill the liquidity arrangements. Shanghai Head Office, all branches
and sub-branches of the People’s Bank of China shall faithfully intensify the supervision on the liquidity conditions of the various
legal person depository financial institutions within your respective jurisdictions, and strengthen the management of deposit reserves
strictly according to relevant provisions, so as to guarantee the smooth going of this work. In the case of any major emergency,
a report shall be made to the Headquarters of the People’s Bank of China in time.

Shanghai Head Office, all branches and sub-branches of the People’s Bank of China are requested to forward the present Circular to
the urban commercial banks, rural commercial banks, rural cooperative banks, urban credit cooperatives, rural credit cooperatives,
finance corporations, financial leasehold companies and relevant foreign-funded financial institutions within your respective jurisdictions.

The People’s Bank of China

November 3, 2006

Shanghai Branch of the People’s Bank of China
2006-11-03

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF FOREIGN-INVESTED BANKS

Order of the State Council of the People’s Republic of China

No.478

The Regulations of the People’s Republic of China on the Administration of Foreign-invested Banks has been adopted at the 155th Executive
Meeting of the State Council on November 8, 2006 and is hereby promulgated, and shall come into force as of December 11, 2006.
Premier of the State Council Wen Jiabao

November 11, 2006

Regulations of the People’s Republic of China on the Administration of Foreign-invested Banks
Chapter I General Provisions

Article 1

The present regulations are formulated for the purpose of strengthening and improving the supervision and administration of foreign-invested
banks and promoting the sound and stable operation of the banking industry so as to meet the demands arising from the work of opening
to the outside world and economic development.

Article 2

The term “foreign-invested banks” as mentioned in the present Regulations refers to the following institutions which have been approved
to be established to operate within the territory of the People’s Republic of China in accordance with relevant laws and regulations
of the People’s Republic of China:

Solely foreign-invested banks established with sole investment of a foreign bank or joint investment of a foreign bank and other foreign
financial institutions;

Chinese-foreign joint venture banks established jointly by foreign financial institutions and Chinese corporations and enterprises;

Branches of foreign banks; or

Representative offices of foreign banks.

The institutions listed in item 1 through item 3 in the preceding paragraph shall be hereinafter referred to as “foreign-invested
bank business institutions”.

Article 3

The term “foreign financial institutions” as mentioned in the present Regulations refers to financial institutions registered outside
the territory of the People’s Republic of China and approved or permitted by financial regulatory authorities in the countries or
regions where they are located. The term “foreign banks” as mentioned in the present Regulations refers to commercial banks registered
outside the territory of the People’s Republic of China and approved or permitted by financial regulatory authorities in the countries
or regions where they are located.

Article 4

Foreign-invested banks shall abide by the laws and regulations of the People’s Republic of China and shall not do harm to the national
interests, the social and public interests of the People’s Republic of China. The normal activities and legitimate rights and interests
of foreign-invested banks shall be protected by the laws of the People’s Republic of China.

Article 5

The banking regulatory institution of the State Council and the dispatched institutions thereof (hereinafter referred to as the banking
regulatory institution) shall be responsible for the supervision and administration of foreign-invested banks as well as their activities.
Where any other laws or regulations otherwise prescribe that other regulatory departments or institutions shall be responsible for
so doing, the provisions thereof shall prevail.

Article 6

The banking regulatory institution of the State Council shall be responsible for the formulation of relevant measures of encouragement
and guidance in accordance with the state regional economic development strategies and relevant policies, which shall come into force
upon approval by the State Council.

Chapter II Establishment and Registration

Article 7

The establishment of foreign-invested banks and the branches thereof shall be subject to the examination and approval of the banking
regulatory institution of the State Council.

Article 8

The minimum limit of registered capital for a solely foreign-invested bank or a Chinese-foreign joint venture bank shall be RMB 1
billion or convertible foreign currencies on a par with RMB 1 billion. The registered capital shall be the paid-in capital. The operating
capital of a branch of a solely foreign-invested bank and a Chinese-foreign joint venture bank within the territory of the People’s
Republic of China as provided by its head office shall be no less than RMB100 million or convertible foreign currencies on a par
with RMB100 million. The total operating capital of all branches as provided by the solely foreign-invested bank and the Chinese-foreign
joint venture bank shall be no more than 60% of the total capital of the head offices thereof. The operating capital of a branch
of a foreign bank as provided by its head office shall be no less than RMB200 million or convertible foreign currencies on a par
with RMB200 million. The banking regulatory institution of the State Council may, in light of the business scope of business institutions
of foreign-invested banks and the needs of prudent supervision, raise the minimum limit of registered capital or operating capital
thereof and prescribe the proportion of Renminbi thereof.

Article 9

Shareholders of solely foreign-invested banks and Chinese-foreign joint venture banks to be established or foreign banks that are
to establish branches or representative offices shall satisfy the conditions as follows:

Having sustainable capability of gaining profits and good credibility and no record of major violations of the laws and regulations;

Having effective anti-money laundering systems;

Shareholders of the solely foreign-invested banks and foreign shareholders of Chinese-foreign joint venture banks to be established
or foreign banks that are to establish branches or representative offices shall be subject to effective supervision by the financial
regulatory authorities in the countries or regions where they are located from which they shall obtain approval for their applications;
and

Other prudent conditions as prescribed by the banking regulatory institution of the State Council. The countries or regions where
shareholders of the solely foreign-invested banks and foreign shareholders of Chinese-foreign joint venture banks to be established
or foreign banks that are to establish branches or representative offices are located shall have complete financial supervision and
administration systems and good regulatory cooperation systems established between the financial regulatory authorities thereof and
the banking regulatory institution of the State Council.

Article 10

Shareholders of the solely foreign-invested banks to be established shall be financial institutions and the sole shareholder or the
controlling shareholder thereof shall satisfy, in addition to the conditions as prescribed in Article 9 of the present Regulations,
the following conditions:

A commercial bank;

Having a representative office within the territory of the People’s Republic of China for at least two years;

With the total assets no less than US billion at the end of the year before the establishment application is put forward; and

Having a capital adequacy ratio that is in accordance with the provisions of the financial regulatory authority in the country or
region where it is located and the banking regulatory institution of the State Council.

Article 11

Shareholders of the Chinese-foreign joint venture banks to be established shall satisfy the conditions as prescribed in Article 9
of the present Regulations, and in addition, the sole shareholder or the controlling shareholder thereof shall be a financial institution
and satisfy the following conditions:

A commercial bank;

Having a representative office established within the territory of People’s Republic of China;

With the total assets no less than US billion at the end of the year before the establishment application is put forward; and

Article 12

Foreign banks that are to establish branches shall satisfy, in addition to the conditions as prescribed in Article 9 of the present
Regulations, the following conditions:

With the total assets no less than US billion at the end of the year before the establishment application is put forward;

Having a capital adequacy ratio that is in accordance with the provisions of the financial regulatory authority in the country or
region where it is located and those of the banking regulatory institution of the State Council; and

Where it is the first time for a foreign bank to establish branches, it shall have a representative office established within the
territory of the People’s Republic of China for at least two years.

Article 13

Foreign banks that have established business institutions within the territory of the People’s Republic of China shall not establish
new representative offices other than the existing ones, exclusive of regions that are supposed to be in accordance with the state
regional economic development strategies and related policies. Representative offices that have been converted into business institutions
upon approval shall go through formalities for the cancellation of registration of the former representative offices under law.

Article 14

To establish a foreign-invested bank business institution, preparations for the establishment shall be first applied for, and the
following application materials shall be submitted to the banking regulatory institution in the place where the institution is to
be established:

An application form with the contents covering the name, site, registered capital or operating capital, types of business under application
of the institution to be established;

A feasibility study report;

The draft articles of association of the solely foreign-invested bank and the Chinese-foreign joint venture bank to be established;

The operating contract signed by and between shareholders of all parties of the solely foreign-invested bank and the Chinese-foreign
joint venture bank to be established;

The articles of association of shareholders of the solely foreign-invested bank and the Chinese-foreign joint venture bank to be established
or the articles of association of the foreign bank that is to establish branches;

Chart of the institutional structure of the shareholders of the solely foreign-invested bank and the Chinese-foreign joint venture
bank to be established, the foreign bank that is to establish branches and the conglomerate to which they belong, name-list of major
shareholders, overseas branches and name-list of affiliated enterprises;

The annual financial statements of the last three years of the shareholders of the solely foreign-invested bank and the Chinese-foreign
joint venture bank to be established and the foreign bank that is to establish branches;

The anti-money laundering systems of the shareholders of the solely foreign-invested bank and the Chinese-foreign joint venture bank
and the foreign bank that is to establish branches;

Copies of business licenses or copies of license documents on operating financial business issued by financial regulatory authorities
in the countries or regions where the shareholders of the solely foreign-invested bank to be established, the foreign shareholders
of the Chinese-foreign joint venture bank to be established and the foreign bank that is to establish branches are located together
with the letter of opinions on the application; and

10.

Other material as required by the banking regulatory institution of the State Council.

The banking regulatory institution in the place where the institution to be established is located shall submit the application materials
together with opinions on the application to the banking regulatory institution of the State Council in a timely manner.

Article 15

The banking regulatory institution of the State Council shall make a decision on whether or not to approve the preparations for establishment
within six months as of the day of receiving all the required application materials for establishing the foreign-invested bank business
institution and shall inform the applicant in written form. Where the application is rejected, reasons shall be specified. Under
special circumstances where the banking regulatory institution of the State Council fails to finish examination and make the decision
on whether or not to approve the preparations for establishment within the period as previously prescribed, the period may be extended
appropriately, and the applicant shall be informed in written form; however, the extended period shall not exceed 3 months. The applicant
shall receive the application form for starting business from the banking regulatory institution in the place where the institution
to be established is located.

Article 16

The applicant shall complete the preparations within 6 months as of the day of receiving the approval for preparing the establishment.
Where the preparations fail to be finished within the prescribed period, reasons shall be specified and the period may be extended
for 3 months upon the approval of the banking regulatory institution in the place where the institution to be established is located.
Where the preparation work can not be finished within the extended period, the decision made by the banking regulatory institution
of the State Council on approving the preparations for establishment shall be invalidated automatically.

Article 17

As regards those who have completed the preparations for establishment upon acceptance, the applicant shall fill in the application
form for starting the operation and submit it together with the following materials to the banking regulatory institution in the
place where the institution to be established is located:

The name-list of the principals of the institution to be established and their resumes;

Letters of authorization for principals of the institution to be established;

Certification on verification of capital issued by a statutory capital verification agency;

Safety measures and materials of other facilities related to business;

Tax and liability guarantee of the foreign bank for its branch bank as in the case of applying for establishing a foreign branch bank;
and

Other materials as required by the banking regulatory institution of the State Council.

The banking regulatory institution in the place where the institution to be established is located shall submit the application materials
together with opinions after examination and approval to the banking regulatory institution of the State Council in a timely manner.

Article 18

The banking regulatory institution of the State Council shall make a decision on whether or not to approve the starting of operation
within 2 months from the day of receiving all the required application materials for starting the operation and shall inform the
applicant in written form. Where the application is approved, the financial transaction license shall be issued; where the application
is not approved, reasons shall be specified.

Article 19

Where a foreign-invested bank business institution is established upon approval, the applicant shall make the registration with and
draw the business license from the administration of industry and commerce based on the financial transaction license.

Article 20

To establish a foreign bank representative office, the following application materials shall be submitted to the banking regulatory
institution in the place where the representative office to be established is located:

An application form with the contents covering the post_title and site of the representative office to be established;

A feasibility study report;

The articles of association of the applicant;

Chart of the institutional structure of the applicant and the conglomerate to which it belongs, name-list of major shareholders, overseas
branches and name-list of affiliated enterprises;

Annual financial statements of the last three years of the applicant;

The anti-money laundering system of the applicant;

Copies of the identity card and the academic credentials, resume and report of negative records of the top representative of the representative
office to be established;

Letter of authorization for the top representative of the representative office to be established;

Copies of business license or copies of license documents on operating financial business issued by the financial regulatory authority
in the country or region where the applicant is located together with the letter of opinions on the application thereof; and

10.

Other documents as required by the banking regulatory institution of the State Council.

The banking regulatory institution in the place where the representative office to be established is located shall submit the application
materials together with opinions after examination and approval to the banking regulatory institution of the State Council in a timely
manner.

Article 21

The banking regulatory institution of the State Council shall make a decision on whether or not to approve the establishment within
six months as of the day of receiving all the required application materials for establishing a representative office of the foreign
bank and shall inform the applicant in written form. Where the application is not approved, reasons shall be specified.

Article 22

Where a representative office is established upon approval, the applicant shall make the registration with and draw the registration
certificate of industry and commerce from the administration of industry and commerce based on the approval documents.

Article 23

The materials indicated in Article 14 , Article 17 and Article 20 , except the annual financial statements, shall have a Chinese
translation attached if they are written in a foreign language.

Article 24

In accordance with the principles of legitimacy, prudence and sustainable operation and upon approval by the banking regulatory institution
of the State Council, the foreign bank may convert the branches it established within the territory of China into solely foreign-invested
banks with its sole investment. The applicant hereof shall put forward application for establishing solely foreign-invested banks
in accordance with the conditions for examination and approval, procedures and materials required by the banking regulatory institution
of the State Council.

Article 25

Where the branches of a foreign bank are converted into solely foreign-invested banks with the sole investment of the head office
thereof, the foreign bank may reserve one branch engaged in foreign exchange wholesale business within the prescribed time limit.
The applicant hereof shall put forward applications for establishing solely foreign-invested banks in accordance with the qualifications
for examination and approval, procedures and materials required by the banking regulatory institution of the State Council.

The term “foreign exchange wholesale business” as mentioned in the preceding paragraph refers to foreign exchange business with clients
exclusive of individuals.

Article 26

The qualifications for appointment of directors, senior managerial personnel and the top representative shall be in accordance with
the requirements regulated by the banking regulatory institution of the State Council and shall be examined and approved by it.

Article 27

The Foreign banks that are under any of the following circumstances shall, upon approval of the banking regulatory institution of
the State Council, furnish application materials in accordance with relevant provisions and go through related registration with
the administration of industry and commerce:

To modify registered capital or operating capital;

To modify the post_title, business premises or site of office of the institution;

To adjust the scope of business;

To modify or adjust the share proportion of shareholders;

To modify the articles of association; and

Other circumstances as regulated by the banking regulatory institution of the State Council.

Where the foreign-invested banks are to change directors, senior managerial personnel and the top representative, their qualifications
for appointment shall be submitted to the banking regulatory institution of the State Council for examination and approval.

Article 28

Where shareholders are modified in solely foreign-invested banks and Chinese-foreign joint venture banks, the shareholders after
modification shall satisfy the conditions for shareholders as prescribed in Article 9 , Article 10 or Article 11 of the present
Regulations.

Under special circumstances and upon the approval of the banking regulatory institution of the State Council, Item 2 of Article 10
or Item 2 of Article 11 of the present Regulations may not be applicable to the shareholders after modification.

Chapter III Scope of Business

Article 29

Solely foreign-invested banks and Chinese-foreign joint venture banks, in accordance with the scope of business approved by the banking
regulatory institution of the State Council, may engage in the following foreign exchange business and Renminbi business in part
or in whole:

Absorbing public deposits;

Issuing short-term, medium-term and long-term loans;

Handling the acceptance and discount of negotiable instruments;

Purchasing/sell government bonds, financial bonds and other foreign currency negotiable securities other than stocks;

Providing letter of credit service and guarantee;

Arranging settlement of both domestic and overseas accounts;

Purchasing/selling foreign exchanges per se or as agents;

Handling insurance business as agents;

Doing inter-bank lending and borrowing;

10.

Running business of bank cards;

11.

Providing safe-keeping services;

12.

Providing services of credit rating and consulting; and

13.

Other business approved by the banking regulatory institution of the State Council.

Solely foreign-invested banks and Chinese-foreign joint venture banks, upon approval of the People’s Bank of China may run foreign
exchange settlements and sales.

Article 30

Where the branches of solely foreign-invested banks and Chinese-foreign joint venture banks carry out business within the scope of
authorization of the head offices, the liabilities shall be undertaken by the head offices thereof.

Article 31

The branches of foreign banks may, in accordance with the scope of business approved by the banking regulatory institution of the
State Council, engage in the following foreign exchange business and Renminbi business in part or in whole and the Renminbi business
with clients exclusive of citizens within territory of China:

Absorbing public deposits;

Issuing short-term, medium-term and long-term loans;

Handling the acceptance and discount of negotiable instruments;

Purchasing/ selling government bonds, financial bonds and other foreign currency negotiable securities other than stocks;

Providing letter of credit service and guarantee;

Arranging settlement of both domestic and overseas accounts;

Purchasing/selling foreign exchanges per se or as agents;

Handling insurance business as agents;

Doing inter-bank lending and borrowing;

10.

Providing safe-keeping services;

11.

Providing services of credit rating and consulting; and

12.

Other business approved by the banking regulatory institution of the State Council.

Branches of foreign banks may absorb every fixed deposit no less than 1 million yuan from citizens within territory of China and,
upon approval of the People’s Bank of China, may engage in foreign exchange settlements and sales.

Article 32

The civil liabilities of the branches of foreign banks and affiliated agencies thereof shall be undertaken by the head offices.

Article 33

The representative offices of foreign banks may engage in liaison, market investigation, consulting and other non-business activities
which are related to the business of the foreign banks they represent. The civil liabilities arising from the activities of the representative
offices of foreign banks shall be undertaken by the foreign banks they represent.

Article 34

The foreign bank business institutions engaged in Renminbi business within the scope of business as prescribed in Article 29 or
in Article 31 of the present Regulations shall be approved by the banking regulatory institution of the State Council and shall
satisfy the conditions as follows:

Having practiced within the territory of the People’s Republic of China for not less than 3 years before filling the application;

Having made profits for 2 successive years before filing the application; and

Other prudent conditions as prescribed by the banking regulatory institution of the State Council.

Where the branches of foreign banks are converted into solely foreign-invested banks with the sole investment of the head offices
thereof, the periods as previously prescribed in Item 1 and Item 2 shall be calculated as of the day of establishing the branches
of foreign banks.

Chapter IV Supervision and Administration

Article 35

Foreign bank business institutions shall, under relevant provisions, formulate business rules and principles thereof, establish and
improve risk management and internal control system and thereby carry them out.

Article 36

Foreign bank business institutions shall abide by the state uniform accounting system and provisions on information disclosure as
regulated by the banking regulatory institution of the State Council.

Article 37

Foreign bank business institutions shall raise foreign debts under relevant provisions of the state.

Article 38

Foreign bank business institutions shall determine the interest rates for deposits and loans and commission fees in accordance with
relevant provisions.

Article 39

In handling deposits, foreign bank business institutions shall lodge deposit reserve funds in accordance with the relevant provisions
as regulated by the People’s Bank of China.

Article 40

Solely foreign-invested banks and Chinese-foreign joint venture banks shall abide by the provisions on the administration of the
ratio of liabilities to assets as prescribed in Law of the People’s Republic of China on Commercial Banks. Solely foreign-invested
banks originating from branches of foreign banks with the sole investment of the head offices thereof, and solely foreign-invested
banks and Chinese-foreign joint venture banks established before the implementation of the present Regulations, as in case of impropriate
ratio of liabilities to assets that is against the provisions, shall, within the prescribed time limit, meet the requirements as
regulated by the banking regulatory institution of the State Council which may require solely foreign-invested banks and Chinese-foreign
joint venture banks with high risks but relatively weak risk management capabilities to raise the capital adequacy ratio.

Article 41

Foreign bank business institutions shall draw bad debts reserve funds in accordance with the provisions.

Article 42

Solely foreign-invested banks and Chinese-foreign joint venture banks shall abide by the provisions of the banking regulatory institution
of the State Council related to the governing of corporations.

Article 43

Solely foreign-invested banks and Chinese-foreign joint venture banks shall abide by the provisions of the banking regulatory institution
of the State Council related to affiliated transactions.

Article 44

Thirty percent of the operating capital of a foreign bank branch shall be in the form of interest-earning assets as designated by
the banking regulatory institution of the State Council.

Article 45

The ratio of the proportion of Renminbi in the totality of operating capital and reserve of a foreign bank branch to the risk assets
of Renminbi shall not be less than 8%.

The banking regulatory institution of the State Council may require branches of foreign banks with high risks but relatively weak
risk management capabilities to raise the ratio as previously prescribed.

Article 46

A foreign bank branch shall ensure the fluidity of its assets. The ratio of the balance of liquid assets and the balance of liquid
debts shall not be less than 25%.

Article 47

The balance of domestic and foreign currencies assets within territory of China of a foreign bank branch shall not less than the
balance of domestic and foreign currencies liabilities within territory of China.

Article 48

A foreign bank with two or more branches within the territory of the People’s Republic of China shall authorize only one branch to
carry out unified management of the other branch (es). The banking regulatory institution of the State Council shall carry out amalgamated
supervision and administration of branches established within the territory of the People’s Republic of China

ANNOUNCEMENT OF CHINA BANKING REGULATORY COMMISSION ON THE RELEVANT MATTERS AFTER THE PROMULGATION OF THE DETAILED RULES FOR THE IMPLEMENTATION OF THE REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF FOREIGN-INVESTED BANKS

Announcement of China Banking Regulatory Commission on the Relevant Matters after the Promulgation of the Detailed Rules for the Implementation
of the Regulations of the People’s Republic of China on the Administration of Foreign-invested Banks

Yin Jian Fa [2006] No. 82

The State Council has promulgated the Regulations of the People’s Republic of China on the Administration of Foreign-invested Banks
(hereinafter referred to as the Regulations) on November 11, 2006, which shall enter into force as of December 11, 2006. In order
to help the smooth implementation of the Regulations, China Banking Regulatory Commission promulgated the Detailed Rules for the
Implementation of the Regulations of the People’s Republic of China on the Administration of Foreign-invested Banks (hereinafter
referred to as the Detailed Rules) on November 24, 2006. The relevant matters concerning the implementation of the Regulations and
the Detailed Rules are hereby announced as follows:

As of December 11, 2006, the restrictions of region and client object on foreign-invested banks engaging in Renminbi businesses shall
be canceled. Foreign-invested banks may, under the relevant provisions of the Regulations, expand their service objects to the citizens
within the territory of China. No region restrictions shall be imposed on foreign-invested banks engaging in Renminbi businesses
within the territory of China.

A branch of foreign-invested bank which has been approved to engage in RMB business for non-foreign-invested enterprises may, without
approval and after changing its business license, expand its business scope to absorbing fixed deposits not less than 1 million RMB
Yuan per sum from citizens within the territory of China. The specific procedures shall be as follows: a foreign bank report the
letter signed by its board chairman or president (CEO or general manager) to the president of China Banking Regulatory Commission,
and then the branch of the foreign bank herein handle the procedures of changing the business license upon the strength of the confirmation
letter issued by China Banking Regulatory Commission. Any other branch of a foreign bank may, under the provisions of the Regulations
and the Detailed Rules, apply for the operation of Renminbi businesses as provided for in Article 31 of the Regulations. Any solely
foreign-invested bank or Chinese-foreign joint venture bank may, under the provisions of the Regulations and the Detailed Rules,
apply for the operation of Renminbi businesses as provided for in Article 29 of the Regulations.

Where the registered capital or working capital of a solely foreign-invested bank, Chinese-foreign joint venture bank or branch of
a foreign bank established before the implementation of the Regulations fails to meet the provisions of the Regulations and the Detailed
Rules, the present registered capital or working capital thereof may, under the condition of its client object and business scope
not unchanging, remain unchanged. In case such circumstances occur as altering shareholders, expanding the client object or business
scope or enlarging the branch network, the solely foreign-invested bank, Chinese-foreign joint venture bank or branch of a foreign-invested
bank shall, under the provisions of the Regulations and the Detailed Rules on registered capital or working capital, increase the
capital.

Where a solely foreign-invested bank is restructured from a branch of a foreign bank and solely funded by the head office thereof,
or if a solely foreign-invested bank or Chinese-foreign joint venture bank is established before the implementation of the Regulations,
it shall meet the provision of Item 4, Article 39 of the Law of the People’s Republic of China on Commercial Banks – “The ratio
of the balance of loans to the same borrower and the balance of capital of the commercial bank may not exceed 10%”. The balance of
credit granting to an enterprise or its associated enterprise(s) by a solely foreign-invested banks or a Chinese-foreign joint venture
bank may not exceed 25% of its capital within the grace period. If a loan has been signed by a former branch of a foreign bank and
transferred to the solely foreign-invested bank, it will, within the contractual term, not be governed by the said provision.

Where a solely foreign-invested bank is restructured from a branch of a solely foreign-invested bank solely funded by the head office
thereof, it shall, under the provisions of China Banking Regulatory Commission, set up an independent and complete management information
system (MIS). If it fails to do so, it shall, within 2 years after opening up upon approval, meet the requirement as provided for
by law.

A representative office of a foreign bank shall, after the implementation of the Regulations and the Detailed Rules, be governed by
the Regulations and the Detailed Rules. The Regulations of the People’s Republic of China on the Administration of Foreign-Funded
Financial Institutions as promulgated by the People’s Bank of China on June 13, 2002 will not be applicable thereto. A solely foreign-invested
bank or Chinese-foreign joint venture bank may not set up any representative office. The supervision over and administration on the
representative offices established by solely foreign-invested banks and Chinese-foreign joint venture banks before the implementation
of the Regulations shall be carried out by referring to the Regulations and the Detailed Rules. Where a foreign bank restructured
a branch bank thereof within the territory of China into a solely foreign-invested bank, the representative office(s) it has established
within the territory of China, may be retained; if it has established a general representative office, it shall, upon the opening-up
of the restructured solely foreign-invested bank, finish the closing-down procedures. Any other general representative office of
a foreign bank shall be closed down prior to June 1, 2007, the function of which shall be transferred to the branch of the foreign
bank which has been designated as a manager within the territory of China.

Where a solely-invested finance company or equity joint finance company serving for the society inside a non-enterprise group is established
before the implementation of the Regulations, it shall finish the procedures of restructuring or closing down as soon as possible.
China Banking Regulatory Commission shall exercise the administration thereon under the provisions of the Regulations and the Detailed
Rules in respect of solely foreign-invested banks and Chinese-foreign joint venture banks during the existence thereof.

China Banking Regulatory Commission shall, under the relevant provisions of the Regulations and the Detailed Rules, accept the applications
of foreign banks. The applications filed by a foreign bank before the implementation of the Regulations, shall remain valid, but
the foreign bank shall, under the relevant provisions of the Regulations and the Detailed Rules, supplement relevant materials.

10.

Where a foreign bank has established a solely foreign-invested bank and branch bank simultaneously or it has established a Chinese-foreign
joint venture bank and branch bank simultaneously before the implementation of the Regulations, it shall adjust the form of business
agencies thereof within the territory of China with reference to the relevant provisions of the Regulations and the Detailed Rules
and the requirements of China Banking Regulatory Commission.

11.

Where a foreign bank has not met the other provisions of supervision and administration as newly revised by the Regulations and the
Detailed Rules, it shall meet them prior to August 1, 2007.

China Banking Regulatory Commission

November 24, 2006

China Banking Regulatory Commission
2006-11-24

ANNOUNCEMENT NO.98, 2006 OF THE MINISTRY OF COMMERCE

Announcement No.98, 2006 of the Ministry of Commerce

[2006] No.98

According to the Regulation of the People’s Republic of China on the Administration of the Import and Export of Goods and the Trial
Measures for the State Trading Administration of the Import of Crude Oil, Product Oil and Fertilizer, upon examination, we hereby
promulgate the Name List of Archival non-state-run Import Enterprises for Operating processed oil (fuel oil) (the 7th batch)

Processed oil (Fuel oil) (16 enterprises) (omitted)

The Ministry of Commerce

December 5, 2006

The Ministry of Commerce
2006-12-05

ANNOUNCEMENT OF THE FIRST PUBLIC INVITATION FOR BID FOR EXPORT QUOTA OF LIQUORICE AND PRODUCTS THEREOF IN 2007

Announcement of the First Public Invitation for Bid for Export Quota of Liquorice and Products Thereof in 2007

The first public invitation for bid for export quota of liquorice and products thereof in 2007 will start on December 15, 2006, and
in accordance with related provisions speculated in the Measures of the Invitation for Bid for Export Commodity Quotas (hereinafter
referred to as the Measures) and the Implementation Rules of Invitation for Bid for Export Industrial Goods Quotas (hereinafter referred
to as the Implementation Rules), related matters are hereby publicized as follows:

Names and custom codes of the commodities under the invitation for bids

(1)

Glycyrrhiza inflata bat in Xinjiang(12111010)

(2)

Other varieties of liquorice(12111090)

(3)

Saps and extracts of liquorice(13021200)

(4)

Acid powder, super of liquorice and derivatives thereof(29389000.1029389000.2029389000.30)

Amount and times of the bid

(1)

The total biding amount of Glycyrrhiza inflata bat in Xinjiang is 1,000 tons for the whole year, and shall be bided for two times,
500 tons of which will be bided for the first time in December 2006.

(2)

The total biding amount of other varieties of liquorice is 2,800 tons for the whole year, and shall be bided for two times, 1.500
tons of which will be bided for the first time in December 2006.

(3)

The total biding amount of liquorice saps and extracts is 2,400 tons for the whole year, and shall be bided for two times, 1.400 tons
of which will be bided for the first time in December 2006.

(4)

The total biding amount of liquorice acid powder and super and derivatives thereof is 900 tons for the whole year, and shall be bided
for two times, 500ons of which will be bided for the first time in December 2006.

Time of bids

Biding time: December 12 to 15, 2006

Terminal time of biding : 160, December 18, 2006

Open time of biding: 100, December 18, 2006

Installment of electronic software for biding

(1)

Applying for an electronic key to the Chinese International Electronic Commerce Center (the contact telephone of each representative
office is publicized on the website of the Chinese International Electronic Commerce).

(2)

Entering into the Information Service System for the Electronic Biding Enterprises in the website of the Chinese International Electronic
Commerce(www.ec.com.cn), logging in each of information of the enterprise, and obtaining the procedure license number of the electronic
biding software distributed by the Chinese International Electronic Commerce Center.

(3)

Downloading the electronic biding software V3.1 from the website of the Chinese International Electronic Commerce, completing the
installment and keying in the obtained license number to active each function of the procedure.

Biding Mode

(1)

Electronic biding will be employed for this bid through the website of the Chinese International Electronic Commerce. The Biding Office
will refuse any biding in written. Enterprises can bid by such two means:

Member enterprises of the website of the Chinese International Electronic Commerce may bid by dialing via special web.

Enterprises that are not members of the website of the Chinese International Electronic Commerce may entering into Internet first,
then log in the special web to bid on the strength of the free temporary biding username and password (see the attached column) publicized
by the website of the Chinese International Electronic Commerce for common use (only within the scope of the users of Win2000/XP
Operating System) and the server address for connecting VPN is vpnfree.ec.com.cn.

usersnamepassword

zhaobiao zhaobiao

zhaobiao1zhaobiao1

(2)

The enterprise can submit only one piece of electronic tender document before the terminal time of the biding, and where two or more
papers are submitted, the tender document of the enterprise is considered as invalid.

(3)

10 minutes later as of the completion of biding operation, the enterprise may inquire whether the tender document is successfully
accepted or not by the mainframe through entering into the Information Service System of the Electronic Biding Enterprises in the
website of the Chinese International Electronic Commerce. As for the tender document submitted only 30 minutes before the terminal
time of biding, the system shall not guarantee that it can feed back the information of whether the mainframe has accepted the paper
successfully or not.

For the Chinese International Electronic Commerce Center, the telephone for consumers: 010-67870108(first dialing 1 then 3 after contact);
the fax: 010-67800343; e Cmail: callcenter@ec.com.cn.

Biding amount

The highest biding amount shall be classified in accordance with the average export amount from 2004 to August 2006, namely:

(1)

Glycyrrhiza inflata bat in Xinjiang

the average export amount from 2004 to August, 2006 the highest biding amount

qualified enterprises of biding for glycyrrhiza inflata bat 150tones

in Xinjiang

(2)

Other varieties of liquorice

the average export amount from 2004 to August, 2006 the highest biding amount

more than 500tones (including 500tons) 280tones

150-500tones (including 150tones) 140tones

80-150tones (including 80tones) 70tones

less than 80tones (including new emerging enterprises) 20tones

(3)

Saps and extracts of liquorice

the average export amount from 2004 to August, 2006 the highest biding amount

more than 200tones (including 200tones) 160tones

100-200tones(100tones) 100tones

less than 100tones(including new emerging enterprises) 50tones

(4)

Acid powder, super of liquorice and derivatives thereof

the average export amount from 2004 to August, 2006 the highest biding amount

more than 80tones(including 80tones) 70tones

20-80tones(including 20tones) 40tones

less than 20tones(including new emerging enterprises) 10tones

Biding price

The lowest biding price has been determined, and the enterprise may directly accept the lowest price determined by the Biding Committee
in its tender document. The tender document, of which the biding price is lower than the lowest determined by the Biding Committee,
shall be abolished.

P rice and amount of winning bid

The biding prices of all the biding enterprises shall be arranged sequentially from high to low, and the biding amount will be accumulated
in light of the sequence. Where the accumulating biding amount is equal to the bid-inviting amount, enterprises reckoned in the accumulating
biding amount (namely the total amount of the invitation for bids) shall be the bid-wining ones, and the biding amount be the bid-winning
amount. Where the total biding amount of the enterprises with the lowest bid-winning price exceeds the remained quota, these enterprises
shall obtain in accordance with their biding amount proportions. Where the bid-winning amount is below the lowest biding amount,
it is handled as failing to win bids.

The biding price is the bid-winning price.

Inquiry of the result of winning bid

This bid shall be opened at 10:00of December 19, 2006, and the preliminary result of winning bid will be promulgated on www.ec.com.cn
on December 20. In case any enterprise with any objection, it may submit to the Bidding Office before 1500 of December 24. Any
bidding enterprise may inquire about its status of winning bid examined and officially publicized by the Biding Committee via www.ec.com.cn
as of December 25. The Bidding office will not issue a written Notice for Winning Bid to enterprises.

10.

Deposit for Winning Bid

The deposit for winning bid (winning price ining amount 0%) for this biding is 10 percent of the winning amount and shall be
remitted to the designated account before the February 28, 2007 by the wining enterprise.

Bank for opening the account: Beijing Wanda Square Branch of China CITIC Bank;

Account number: 7112410182600001628

The Biding Committee shall, in accordance with related provisions in the Measures and the Implementation Rules, punish enterprises
that fail to remit the deposit for winning bid and waste quota.

11.

As for the qualified enterprise of biding for liquorice and products thereof by such trade means as processing with supplied materials,
the quota amount may not be restricted by the total bid-inviting quota for the whole year, and half of the average bid-wining price
will be charged. The specific applying procedures shall be conducted according to related provisions.

12.

Bidding Office of Export Quotas of Liquorice and Products thereof

Address: 8/F, Building 12, Panjiayuan Nanli, Chaoyang District, Bejing; post code: 100021

Telephone : 010-67734756,67734746

Fax : 010-67702068,67734768

The Committee of the Invitation for Bid for Export Commodity Quotas

December 11, 2006

The Committee of the Invitation for Bid for Export Commodity Quotas
2006-12-11

ANNOUNCEMENT NO.13, 2006 OF THE MINISTRY OF COMMERCE AND THE STATE ADMINISTRATION OF TAXATION ON PROMULGATING THE CHINA TECHNOLOGY CATALOG OF ENCOURAGED IMPORT

Announcement No.13, 2006 of the Ministry of Commerce and the State Administration of Taxation on Promulgating the China Technology
Catalog of Encouraged Import

[2006] No.13

For the purpose of implementing the requirements of the Circular of the State Council on Implementing Several Supporting Policies
for the Outline of the State Mid/Long-term Scientific and Technological Development (2006-2020) (Guo Fa [2006] No.6) and encouraging
enterprises to introduce foreign advanced and applicable technologies into China, the Ministry of Commerce and the State Administration
of Taxation jointly formulated the China Technologies Category of Encouraged Import, which is hereby promulgated as a reference for
each department, locality and related institution in conducting technology introduction.

Annex: China Technology Catalog of Encouraged Import

The Ministry of Commerce of the People’s Republic of China, the State Administration of Taxation

December 18,2006

The Ministry of Commerce, the State Administration of Taxation
2006-12-18

MEASURES SUPERVISING AND ADMINISTERING THE INSPECTION AND QUARANTINE OF OUTBOUND FRUITS

Decree of the State Administration of Quality Supervision, Inspection and Quarantine

No. 91

The Measures for Supervising and Administering the Inspection and Quarantine of Outbound Fruits were deliberated and adopted at the
executive meeting of the State Administration of Quality Supervision, Inspection and Quarantine on November 27, 2006 They are hereby
promulgated, and shall go into effect as of February 1, 2007.
Director General Li Changjiang

December 25, 2006

Measures Supervising and Administering the Inspection and Quarantine of Outbound Fruits
Chapter I General Rules

Article 1

For the purpose of regulating the inspection and quarantine as well as supervision and administration of outbound fruits, and improving
the quality and safety of outbound fruits, these Measures are constituted according to the Law of the People’s Republic of China
Concerning the Entry and Exit Animal and Plant Quarantine and the Regulations for the Implementation Thereof, the Law of the People’s
Republic of China Concerning Import and Export Commodity Inspection and the Regulations for the Implementation Thereof, the Food
Hygiene Law of the People’s Republic of China, as well as other related laws and regulations.

Article 2

The inspection and quarantine as well as the supervision and administration of the outbound fresh fruits (including frozen fruits,
hereinafter referred to as fruits) of China shall be governed by these Measures.

Article 3

The inspection and quarantine as well as the supervision and administration of outbound fruits throughout China shall be uniformly
administered by the State Administration of Quality Supervision, Inspection and Quarantine (hereinafter referred to as the SAQSIQ).

The entry and exit inspection and quarantine institution set up at each locality by the SAQSIQ (hereinafter referred to as the inspection
and quarantine institution) shall be responsible for the inspection and quarantine as well as supervision and administration of the
outbound fruits within its own jurisdiction.

Article 4

In case any bilateral agreement or protocol, etc., which are entered into between China and the importing country or region, definitely
stipulates, or any law and regulation of the importing country or region requests, that the orchard and the packing factory of the
fruits imported to that country or region shall be registered, the inspection and quarantine institution shall register the orchard
and the packing factory of the fruits exported to that country or region in accordance with legal provisions.

In case neither bilateral agreement or protocol between China and the importing country or region provisions clearly, nor does any
law or regulation of the importing country or region so require clearly, the orchard or the packing factory of the outbound fruits
may file an application for registration to the inspection and quarantine institution.

Chapter II Registration

Article 5

When applying for registration, an orchard of outbound fruits shall satisfy the following conditions:

(1)

It plants fruits within a whole area of 100 mu or more;

(2)

No polluting source, which affects the production of fruits, exists around,;

(3)

It has full-time or part-time plantation custodians who are responsible for monitoring, preventing and controlling harmful organisms
within the orchard;

(4)

It has established a sound quality management system. The quality management system documents shall include related materials concerning
organizational structure, staff trainings, monitoring and control of harmful organisms, use and management of agricultural chemicals
as well as nice agricultural operation norms, etc.;

(5)

No major epidemic circumstance of plant has occurred within the latest two years; and

(6)

Where any bilateral agreement, protocol or any law or regulation of the importing country or region has particular provisions regarding
the registration, such provisions shall also apply.

Article 6

When applying for registration, a packing factory of outbound fruits shall satisfy the following conditions:

(1)

The factory area is neat and clean, and possesses raw material sites and finished product warehouses satisfying the requirements for
storing fruits;

(2)

The depositing, processing, treatment and storage functional areas of fruits are independent relatively, the layout is reasonable,
and measures are taken to separate the functional areas from the living area and a proper distance between them shall be maintained;

(3)

It has the facilities for washing, processing, anti-pest, anti-disease and disinfection treatment, which satisfy quarantine requirements;

(4)

The water sources and agricultural chemicals, which are used to process the fruits, must satisfy the related requirements on food
hygiene and those of the importing country or region;

(5)

It has established a sound hygienic quality management system, including the management in the steps of supply, processing, packing
and storage, etc. of fruits; and has detailed records on the information about the sources of fruits, measures for prevention and
monitoring epidemic and tests of harmful organisms, toxic and harmful substance;

(6)

Full-time or part-time plantation custodians are equipped to be in charge of implementing the epidemic prevention measures in the
steps of inspection, acceptance, processing, packing and depositing, etc. of raw material fruits, controlling toxic and harmful substances,
treating abandoned fruits, self-testing finished fruits, and so on;

(7)

It possesses orchards that are suitable for its processing capacity and supply fruits, or has established stable supply relationships
with the supplying orchards; and

(8)

In case particular provisions regarding the registration in any bilateral agreement, protocol or any law or regulation of the importing
country or region exist, such provisions shall also apply.

Article 7

When applying for registration, an orchard shall apply to the local inspection and quarantine institution in written form, and the
following materials (in duplicate) shall be submitted:

(1)

the Application Form for the Registration of the Orchard of Outbound Fruits;

(2)

the effective certifications on lawful operation and management of the orchard (effective certifications on contracting, lease or
use of the land of the orchard), the sketch map and ichnography thereof;

(3)

documents in respect of quality management system of the orchard; and

(4)

a photocopy of related qualification certificates or corresponding technical diplomas of the plantation custodians.

Article 8

When applying for registration, a packing factory shall apply to the local inspection and quarantine institution in written form,
and the following materials (in duplicate) shall be submitted:

(1)

the Application Form for the Registration of the Packing Factory of Outbound Fruits;

(2)

a photocopy of the business license;

(3)

the ichnography of the packing factory area, the workflow and a brief introduction thereon;

(4)

a name list of the orchards supplying fruits, and a photocopy of the related contracts on production and purchase of fruits, which
are entered into between the packing factory and each orchard; and

(5)

documents on hygienic quality management system .

Article 9

An inspection and quarantine institution shall check the application materials pursuant to legal provisions, determine whether they
are complete and satisfy the requirements as specified in the related provisions, make a decision on accepting or not accepting the
application, and issue a written voucher. In case the submitted materials are incomplete or irregular, it shall notify the applicant
make supplement once for all to either on the spot or within 5 working days after receipt of the application. In case it fails to
inform the applicant within the time limit, it shall be considered to have accepted the application as of its receipt of the application
materials.

The inspection and quarantine institution shall, after accepting the application, check the application materials provided by the
orchard or the packing factory of outbound fruits applying for registration, and organize an expert panel to assess on the spot.

Article 10

An inspection and quarantine institution shall make a decision on permitting or not permitting the registration within 20 work days
(excluding the time of on-the-spot assessment) as of its receipt of the application.

In case an application is accepted by a branch inspection and quarantine institution, who shall, finish the preliminary examination
of the application materials within 10 work days as of receipt of the application; where the application is found to be qualified
from the preliminary examination, it shall be submitted to the directly subordinate entry and exit inspection and quarantine bureau
(hereinafter referred to as the directly subordinate inspection and quarantine bureau), who shall make a decision on permitting or
not permitting the registration within 10 work days.

The directly subordinate inspection and quarantine bureau shall report the SAQSIQ the name list of the registered orchards and packing
factories to for archival filing.

Article 11

The valid term of a registration certificate shall be 3 years. The orchard or the packing factory shall apply for change of the certificate
to the local inspection and quarantine institution 3 months prior to the expiry of the valid term of the registration certificate.

Article 12

A registered orchard or packing factory shall apply to the inspection and quarantine institution for going through alteration formalities
under any of the following circumstances:

(1)

The orchard enlarges the plantation area;

(2)

The orchard’s contract undertaker, principle, or plantation custodians have been altered;

(3)

The packing factory’s legal representative or principle has been altered;

(4)

The registered orchard supplying fruits to the packing factory has been altered;

(5)

The variety of the packing factory’s processed fruits has been altered ; or

(6)

Other major alterations.

Article 13

A registered orchard or packing factory shall re-apply to the inspection and quarantine institution for registration under any of
the following circumstances:

(1)

The orchard has changed the location or the variety of the fruits;

(2)

The packing factory has been rebuilt, enlarged and moved; or

(3)

Other major changes.

Article 14

In case any bilateral agreement or protocol, etc., which is entered into between China and the importing country or region definitely
provisions, or any of the laws and regulations of the importing country or region requests, that the orchard and the packing factory
importing fruits to that country or region shall be registered, the orchard or the packing factory of the outbound fruits shall not
export fruits to the countries concerned until the SAQSIQ has recommend it in a centralized way, and the inspection and quarantine
department of the importing country or region has accredited it.

Chapter III Supervision and Administration

Article 15

An inspection and quarantine institution shall monitor the harmful organisms as well as supervise and administer the toxic and harmful
substances in the orchards and the packing factories of outbound fruits within its jurisdiction. The monitoring result and the supervision
situation shall be taken as the important basis for classified administration of the outbound fruits for inspection and quarantine.

Article 16

Effective measures shall be taken by the orchard or packing factory of outbound fruits to monitor, prevent and comprehensively manage
harmful organisms so as to avoid and control the occurrence of the quarantine of harmful organisms to which the importing country
or region attaches importance. The orchard or packing factory of outbound fruits shall conform to the related regulations and standards,
safely and reasonably utilize agricultural chemicals, and shall not buy, store or utilize the chemicals, which are forbidden from
being used on fruits by China or the importing country or region.

The packing materials used for outbound fruits shall be clean and hygienic, never used, and satisfy related standards on hygienic
quality. In case particular requirements are made by the importing country or region, the fruits packing boxes shall indicate the
fruit variety, the origin place, the name or code of the orchard and the packing factory, and other related information as required.

Article 17

The contents subject to The inspection and quarantine institution shall conduct supervision and administration on the orchard of
outbound fruits in terms of the following contents:

(1)

the surrounding environment of the orchard, the circumstances of the fruit growth, and the situation on the managers;

(2)

the happening, monitoring, prevention and control of harmful organisms of the orchard, and related records thereof;

(3)

the deposition situation of the agricultural chemicals of the orchard, and records on purchasing, obtaining and using them;

(4)

the records on the checking toxic and harmful substances of the fruits in the orchard; and

(5)

the situation on implementing related provisions in the bilateral agreement, protocol or laws and regulations of the importing country
or region.

Article 18

The contents subject to the inspection and quarantine institution shall conduct supervision and administration on the packing factory
of outbound fruits in terms of the following contents:

(1)

the situation on the environment and hygienic of the packing factory, the use of the production facilities and packing materials,
and the situation on the managers;

(2)

the situation on the disposition of the chemicals as well as purchase, obtainment and use records thereof;

(3)

the related records on the sources, processing, self-test, storage and export, etc. of the fruits;

(4)

the records on check and control of the toxic and harmful substances of the fruits;

(5)

the use of facilities for refrigeration, the hygienic circumstances on preventing epidemic, and the records on controlling humidity
and temperature; and

(6)

the implementation of related provisions in the bilateral agreement, protocol or laws and regulations of the importing country or
region.

Article 19

The inspection and quarantine institution shall order it to make rectifications within a time limit, and shall not accepting its application
for quarantine until it is found qualified after the rectification, if an orchard or packing factory of outbound fruits is under
any of the following circumstances,:

(1)

It fails to use agricultural chemicals pursuant to provisions;

(2)

Any environmental pollution source exists around;

(3)

The packing factory’s fruits has an unclear source;

(4)

The fruits sourcing differently within the packing factory are blended, have none measures on separation and epidemic prevention,
and are hard to be distinguished from each other;

(5)

It fails to indicate the related information or add marks on packages pursuant to the legal provisions;

(6)

The quarantine treatment facilities of the packing factory encounter with a major technical problem;

(7)

The inspection and quarantine institution, upon quarantine, finds that any harmful organism or toxic and harmful substance to which
importance is attached abroad exceeds the standard; or

(8)

The importing country or region, upon quarantine, finds that any harmful organism or toxic and harmful substance exceeds the standard.

Article 20

An inspection and quarantine institution shall make annual checks on the registered orchard and packing factories of outbound fruits
before the fruits collection quarter in each year, and if any orchard and packing factory is assessed to be unqualified from the
annual checks, it shall make a rectification within a time limit.

Article 21

A registered orchard or packing factory of outbound fruits shall be disqualified from registration under any of the following circumstances:

(1)

failing to satisfy the requirements after making a rectification within a time limit;

(2)

concealing or reporting by omission any problem of quality and safety;

(3)

refusing to accept the supervision and administration of the inspection and quarantine institution; or

(4)

failing to re-apply for registration according to Article 13 .

Article 22

The orchard shall build up stable supply and cooperation relationships with the packing factory of outbound fruits. The packing factory
shall require the orchard to intensify the monitoring, prevention and control of the epidemic situation as well as toxic and harmful
substances so as to ensure the provision of high-quality and safe fruits.

With respect to outbound fruits carried to the packing factory beyond the jurisdiction of the local inspection and quarantine institution,
a registered orchard shall apply to the local inspection and quarantine institution for the supply testimonial of the origin place
with such information as the name and quantity of the fruits, the name or registration number of the orchard, etc clearly indicated.

Chapter IV Exit Inspection and Quarantine

Article 23

The party concerned shall apply for quarantine of outbound fruits to the inspection and quarantine institution at the place where
the packing factory is located, and submit related documents according to the provisions on the application for quarantine.

When applying for quarantine, the party concerned shallprovide a photocopy of the registration certificate in addition if the outbound
fruits come from a registered orchard or packing factory; the inspection and quarantine institution at the locality of the registered
orchard shall issue a fruit supply testimonial of the origin place for any other registered orchard out of the jurisdiction; the
party concerned shall clearly indicate the name, address and other information of the sourcing orchard or packing factory on the
application list for quarantine if the outbound fruits come from an unregistered orchard or packing factory.

In case the source of outbound fruits is not clear, the application for quarantine shall not be accepted.

Article 24

In accordance with provisions of the importing country or region on inspection and quarantine of inward fruits and the registered
information on the orchard or the packing factory, an inspection and quarantine institution shall, implement corresponding exit inspection
and quarantine measures combined with daily supervision and administration.

Article 25

An inspection and quarantine institution shall, in light of the following requirements, inspect and quarantine outbound fruits:

(1)

the bilateral agreements on quarantine entered into between China and the importing country or region (containing agreements, protocols
and memorandums, etc.);

(2)

the provisions or requirements on inspection and quarantine of inward fruits of the importing country or region;

(3)

international plant quarantine measures and standards;

(4)

provisions on the inspection and quarantine of outbound fruits of China; and

(5)

the requirements on inspection and quarantine set forth in the trade contract and letter of credit, etc.

Article 26

An inspection and quarantine institution shall, according to relevant work procedures and technical standards, conduct the on-the-spot
inspection and quarantine and laboratory test:

(1)

to check whether the goods are consistent with the documents;

(2)

to check whether the related information about the plant quarantine certificate and the packing boxes satisfy the requirements of
the importing country or region;

(3)

to inspect whether the fruits are accompanied with polypides, disease symptoms, branches, leaves, soil, and condition of plant disease
or insect pest. In case a suspicious epidemic situation is found, the related samples and disease polypides shall be sent to the
laboratory for quarantine and authentication according to the related provisions.

Article 27

Exit inspection and quarantine as well as daily supervision and administration shall be implemented on outbound fruits by the inspection
and quarantine institution.

The related inspection and quarantine certificates such as the inspection and quarantine certificate, the customs release list f,
or the voucher on re-issuance of the certificate for the outbound goods, etc. shall be issued according to the related provisions
where the outbound fruits are found qualified from inspection and quarantine, and the outbound goods shall be permitted to exit.
In case outbound goods have not been inspected and quarantined or are found unqualified from the inspection and quarantine, they
may not be permitted to exit.

In case the outbound fruits are found unqualified from inspection and quarantine, the inspection and quarantine institution shall
feed back related circumstances to the orchard or the packing factory of outbound fruits, help investigate the reason, and take improvement
measures. In case the orchard or the packing factory of outbound fruits is not within its jurisdiction, the inspection and quarantine
institution carrying out the inspection and quarantine shall timely notify related circumstances to the local inspection and quarantine
institution at the place where the orchard or the packing factory of outbound fruits is located.

Chapter V Supplementary Rules

Article 28

The following terms as mentioned in these Measures shall mean as follows:

(1)

The term “orchard” shall refers to a piece of land to continuously plant a single variety of fruits without being separated by barriers
(including road, channel or speedway, etc.).

(2)

The term “packing factory” refers to a fixed place for selecting, classifying, processing, packing, storing fruits after collection
or for other operations in series, and may, in general, contain a preliminary selection area, a processing and packing area, or a
storage warehouse, etc.

(3)

The term “frozen fruits” refers to fruits which stored or transported below -18fter processed.

Article 29

In case any entity or individual concerned goes against the Law of the People’s Republic of China Concerning the Entry and Exit Animal
and Plant Quarantine and the Regulations for the Implementation Thereof, the Law of the People’s Republic of China Concerning Import
and Export Commodity Inspection and the Regulations for the Implementation Thereof as well as the Food Hygiene Law of the People’s
Republic of China, the inspection and quarantine institution shall punish it/him according to the related provisions.

Article 30

If any of the following circumstances occurs, the inspection and quarantine institution may impose a fine of below 30,000 Yuan:

(1)

to blend the fruits sourced from a registered orchard or packing factory with that from an unregistered orchard or packing factory;

(2)

to embezzle the registration number of the orchard or the packing factory;

(3)

to forge or alter a supply certificate of the origin place;

(4)

to replace the fruits that are found to be qualified from inspection and quarantine; or

(5)

to conduct other acts with violation of these Measures, which causes serious safety or hygienic quality accidents.

Article 31

In case any inspection or quarantine staff member exerts fraud for private purposes, neglects duties, or go against any related law,
regulation or these Measures, administrative sanctions shall be imposed on him according to law; if the circumstance is serious,
and a crime is established, criminal liabilities shall be investigated on him according to law.

Article 32

The SAQSIQ shall be responsible for the interpretation of these Measures.

Article 33

These Measures shall go into effect as of February 1, 2007.

The State Administration of Quality Supervision, Inspection and Quarantine
2006-12-25

ANNOUNCEMENT NO.115, 2006 OF THE MINISTRY OF COMMERCE ON IMPLEMENTING THE AGREEMENT OF TEXTILE BETWEEN THE PEOPLE’ REPUBLIC OF CHINA AND THE SOUTH AFRICA

Announcement No.115, 2006 of the Ministry of Commerce on Implementing the Agreement of Textile between the People’ Republic of China
and the South Africa

[2006] No.115

According to the new provisions of related Articles of the Memorandum of Understanding on Promoting Trade and Cooperation in Economic
and Technology between the Governments of the People’ Republic of China and the Republic of South Africa, the implementation of the
import management unilaterally carried out by the South Africa against textiles and apparels originated from China shall be postponed
to January 1, 2007. As regards the detailed information on the related textiles and apparels to be subject to import management by
South Africa as the article names, tariff numbers of the South Africa and time limit for Administration and so on, please see Announcement
No.71, 2006 of Ministry of Commerce, Promulgating Article Names of Related Textiles and Apparels, and Tax Number, Time Limit for
Administration and Related Requirements of South Africa.

The Ministry of Commerce

December 31, 2006

The Ministry of Commerce
2006-12-31

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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

ANNOUNCEMENT NO.58, 2006 OF THE GENERAL ADMINISTRATION OF CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA CONCERNING IMPOSING ANTI-DUMPING DUTY ON IMPORTED SPANDEX ORIGINATING FROM JAPAN, SINGAPORE, SOUTH KOREA, TAIWAN REGION AND THE UNITED STATES

CIRCULAR OF THE PEOPLE’S BANK OF CHINA, SHANGHAI HEAD OFFICE, CONCERNING SURVEYING SWIFT AND OTHER METHODS OF SETTLING CROSS-BORDER CAPITALS

CIRCULAR OF SHANGHAI BRANCH OF THE PEOPLE’S BANK OF CHINA ON TRANSMITTING THE CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON RAISING THE RATE OF RENMINBI DEPOSIT RESERVE

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF FOREIGN-INVESTED BANKS

ANNOUNCEMENT OF CHINA BANKING REGULATORY COMMISSION ON THE RELEVANT MATTERS AFTER THE PROMULGATION OF THE DETAILED RULES FOR THE IMPLEMENTATION OF THE REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE ADMINISTRATION OF FOREIGN-INVESTED BANKS

ANNOUNCEMENT NO.98, 2006 OF THE MINISTRY OF COMMERCE

ANNOUNCEMENT OF THE FIRST PUBLIC INVITATION FOR BID FOR EXPORT QUOTA OF LIQUORICE AND PRODUCTS THEREOF IN 2007

ANNOUNCEMENT NO.13, 2006 OF THE MINISTRY OF COMMERCE AND THE STATE ADMINISTRATION OF TAXATION ON PROMULGATING THE CHINA TECHNOLOGY CATALOG OF ENCOURAGED IMPORT

MEASURES SUPERVISING AND ADMINISTERING THE INSPECTION AND QUARANTINE OF OUTBOUND FRUITS

ANNOUNCEMENT NO.115, 2006 OF THE MINISTRY OF COMMERCE ON IMPLEMENTING THE AGREEMENT OF TEXTILE BETWEEN THE PEOPLE’ REPUBLIC OF CHINA AND THE SOUTH AFRICA

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