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China Securities Regulatory Commission
Notice of the China Securities Regulatory Commission on Promulgating the Rules for the General Meetings of Shareholders of Listed
Companies
Zheng Jian Fa[2006] No. 21
To all the listed companies,
For the purpose of further regulating the acts of listed companies and ensuring that the general meetings of listed companies lawfully
exercise their functions , the China Securities Regulatory Commission (hereinafter referred to as the CSRC) has amended the Regulatory
Opinions for the General Meetings of Shareholders of Listed Companies which was promulgated and became operative in May 2000 (Zheng
Jian Gong Si Zi [2005] No. 53) in pursuant to the newly amended Company Law and the Securities Law in 2005. It is hereby promulgated,
and please implement them accordingly.
If the announcement or notice of the general meeting of a listed company is too long, the listed company may disclose the summary
of relevant contents on a newspaper or periodical designated by the CSRC, however, the full text thereof shall be published on the
website designated by the CSRC at meantime. The website for the disclosure of listed companies of Shanghai Stock Exchange is https://www.sse.com.cn;
and the website for the disclosure of listed companies of Shenzhen Stock Exchange is https://www.cninfo.com.cn.
The Rules for the General Meetings of Shareholders of Listed Companies shall be implemented as of the date of promulgation. The relevant
general meetings of shareholders involved in the share-trading reform of listed companies shall be governed by other relevant provisions.
All listed companies shall timely amend their Articles of Association and formulate corresponding rules of procedures for the general
meetings of shareholders in light of their respective conditions.
China Securities Regulatory Commission
March 16, 2006
Rules for the General Meetings of Shareholders of Listed Companies
Chapter I General Provisions
Article 1
For the purpose of regulating the acts of listed companies and ensuring the general meetings of listed companies to lawfully exercise
their functions, these Rules are formulated in pursuant to the Company Law of the People’s Republic of China (hereinafter referred
to as the Company Law) and the Securities Law of the People’s Republic of China (hereinafter referred to as the Securities Law).
Article 2
A listed company shall hold sessions of the general meeting of shareholders in strict accordance with the relevant provisions in the
laws, administrative regulations, these Rules and its own articles of association, and shall ensure that shareholders can lawfully
exercise their rights.
The board of directors of a listed company shall practically perform its duties, and shall organize the sessions of the general meeting
of shareholders seriously and timely. All the directors of a listed company shall be diligent and responsible so as to ensure that
the sessions of the general meeting of shareholders are held normally and lawfully exercise its functions.
Article 3
The general meeting of shareholders shall exercise its functions within the scope as prescribed in the Company Law and the Articles
of Association of the company.
Article 4
The sessions of the general meeting of shareholders can be divided into annual sessions and temporary sessions. The former shall be
held once every year within 6 months upon conclusion of the previous accounting year. The latter shall be held irregularly and shall
be held within 2 months if any circumstance for holding such a meeting occurs as it is prescribed in Article 101 of the Company
Law.
If a listed company fails to hold a session of the general meeting of shareholders within the aforesaid time limit, it shall report
it to the dispatched office of CSRC at the locality of the company and the stock exchange where its stocks are listed for trading
(hereinafter referred to as the stock exchange), and shall explain the reasons and make an announcement.
Article 5
When holding a session of the general meeting of shareholders, a listed company shall hire lawyers to issue legal opinions about the
following matters and make an announcement:
(1)
Whether the procedures for convening and holding the session conform to the laws, administrative regulations, these Rules and the
Articles of Association of the company;
(2)
Whether the qualifications of the attendees and the convener are lawful and effective;
(3)
Whether the voting procedures and results of the meeting are lawful and effective; and
(4)
Issue legal opinions about other relevant matters as requested by the listed company.
Chapter II Convening of the General meeting of Shareholders
Article 6
The board of directors shall convene the sessions of the general meeting of shareholders within the time limit as prescribed in Article
4 of these Rules.
Article 7
An independent director has the right to propose the board of directors to hold a temporary session of the general meeting of shareholders.
With respect to the proposal of the independent director for holding a temporary session, the board of directors shall give a written
reply on whether to hold the temporary session or not within 10 days upon receipt of the proposal in accordance with the laws, administrative
regulations and the Articles of Association of the company.
If the board of directors agrees to hold a temporary session of the general meeting of shareholders, it shall send out a notice on
the temporary session of the general meeting of shareholders within 5 days after the resolution of the board of directors is made.
If the board of directors does not agree to hold a temporary session of the general meeting of shareholders, it shall explain the
reasons and make an announcement.
Article 8
The board of supervisors has the right to propose the board of directors to hold a temporary session of the general meeting of shareholders,
and shall put forward the proposal to the board of directors in written form. The board of directors shall administrative regulations
and the Articles of Association of the company, give a written reply on whether to hold a temporary session or not within 10 days
upon receipt of the proposal in accordance with the laws.
If the board of directors agrees to hold a temporary session, it shall send out a notice on the temporary session of the general meeting
of shareholders within 5 days after the resolution of the board of directors is made; if it makes any modification to the original
proposal in the notice, it shall be consented by the board of supervisors.
If the board of directors does not agree to hold a temporary session of the general meeting of shareholders or fails to give a reply
within 10 days upon receipt of the proposal, it shall be regarded that the board of directors can not or fails to perform the duty
of convening sessions of the general meeting of shareholders, and the board of supervisors may convene and preside over the session
by itself.
Article 9
The shareholders that solely or collectively hold 10% or more shares of a company has the right to propose the board of directors
to hold a temporary session of the general meeting of shareholders, and shall put forward the proposal to the board of directors
in written form. The board of directors shall administrative regulations and the Articles of Association of the company, give a written
reply on whether to hold a temporary session or not within 10 days upon receipt of the proposal in accordance with the laws.
If the board of directors agrees to hold a temporary session of the general meeting of shareholders, it shall send out a notice within
5 days after the resolution of the board of directors is made; if it makes any modification to the original proposal in the notice,
it shall be consented by the relevant shareholders.
If the board of directors does not agree to hold a temporary session or fails to give feedback within 10 days upon receipt of the
proposal, the shareholders that independently or collectively hold 10% or more shares of the company shall have the right to propose
the board of supervisors to hold a temporary session of the general meeting of shareholders, and shall put forward the request to
the board of supervisors in written form.
If the board of supervisors agrees to hold a temporary session of the general meeting of shareholders, it shall send out a notice
within 5 days upon receipt of the request; if it makes any modification to the original proposal in the notice, it shall be consented
by the relevant shareholders.
If the board of supervisors fails to send out a notice on the temporary session within the prescribed time limit, it shall be regarded
that the board of supervisors will not convene or preside over the session, and the shareholders that independently or collectively
hold 10% or more shares of the company for consecutively 90 or more days may hold or preside over the session by themselves.
Article 10
Where the board of supervisors or shareholders decide to convene the general meeting of shareholders by itself/themselves, it/they
shall send out a written notice to the board of directors, and put on the records at the dispatched office of CSRC and the stock
exchange.
Before the resolution of the general meeting of shareholders is announced, the proportion of the summoning shareholders shall be not
less than 10%.
When sending out a notice on meeting and circulating an announcement on the resolution of the general meeting of shareholders, the
board of supervisors or shareholders that convene the meeting shall submit the relevant certification materials to the dispatched
office of CSRC at the locality of the company and the stock exchange.
Article 11
With respect to the general meeting of shareholders convened by the board of supervisors or shareholders on its/their own initiative,
the board of directors and its secretary shall cooperate. The board of directors shall provide the register of shareholders on the
date of equity registration. Where the board of directors fails to provide the register of shareholders, the convener may apply to
the securities registration and clearing institution for it upon the strength of the relevant announcement of the notice on convening
the general meeting of shareholders. The register of shareholders offered to the convener shall not be used for other purposes except
for the general meeting of shareholders.
Article 12
The expenses necessary for holding the general meeting of shareholders convened by the board of supervisors or shareholders shall
be borne by the listed company.
Chapter III Proposal and Notification of the General Meeting of Shareholders
Article 13
The contents of a proposal shall be determined by the general meeting of shareholders, which shall have definite topics and specific
matters for resolution, and shall be in accordance with the laws, administrative regulations and the Articles of Association of the
company.
Article 14
The shareholders that independently or collectively hold 3% or more of the shares of a company may put forward a temporary proposal
and submit it to the convener in written form within 10 days before the meeting is held. The convener shall issue a supplementary
notice on the meeting and announce the contents of the temporary proposal within 2 days upon the receipt of the aforesaid proposal.
Unless it is prescribed by the preceding Paragraph, the convener shall not amend the proposal as mentioned in the aforesaid notice
or add any new proposal after sending out a notice on a session of the general meeting of shareholders.
The general meeting of shareholders shall not vote on or make a resolution for any proposal that is not listed in the notice on the
general meeting of shareholders or that is inconsistent with Article 13 of these Rules.
Article 15
The convener shall notify all the shareholders in the form of announcement within 20 days before holding an annual session of the
general meeting of shareholders, and shall notify all the shareholders in the form of announcement within 15 days before holding
a temporary session of the general meeting of shareholders.
Article 16
The notice or supplementary notice on holding a session of the general meeting of shareholders shall thoroughly and completely disclose
the specific contents of all the proposals as well as all the materials or explanations necessary for reasonable judgment of the
matters to be discussed by the shareholders. In case the opinions of an independent director are necessary for any matter to be discussed,
the opinions and the reasons of the independent director shall also be disclosed when the notice or supplementary notice on convening
the general meeting of shareholders is sent out.
Article 17
In case the general meeting of shareholders plans to discuss the election of directors or supervisors, the notice on convening the
general meeting of shareholders shall fully disclose the detailed information about the candidates for directors or supervisors in
the following aspects at least:
(1)
Educational background, work experiences, concurrent positions, and other personal information;
(2)
Whether he has any connected relation with the listed company, controlling shareholders or actual controllers;
(3)
The amount of shares of the listed company he holds; and
(4)
Whether he has been subjected to the punishment of the CSRC or any other relevant department or the reprimand of the stock exchange.
A single proposal shall be put forward for each candidate for directors or supervisors except for the directors or supervisors that
are elected by way of cumulative voting system.
Article 18
The notice on convening the general meeting of shareholders shall indicate the time and place of the meeting and specify the date
of equity registration. The interval between the date of equity registration and the date of meeting shall be not more than 7 working
days. Once the date of equity registration is specified, it shall not be altered.
Article 19
After the notice on convening the general meeting of shareholders is sent out, the session of the general meeting of shareholders
shall not be postponed or cancelled and the proposal listed in the notice on the general meeting of shareholders shall not be cancelled
without justifiable causes. In case of any circumstance for postponement or cancellation of the meeting, the convener shall make
an announcement and explain the reasons at least 2 working days before the date for the planned session of the general meeting of
shareholders.
Chapter IV Holding of a session of the General Meeting of Shareholders
Article 20
A listed company shall hold the sessions of the general meeting of shareholders at its domicile or the place prescribed in its Articles
of Association.
The meetings of the general meeting of shareholders shall be held at a meeting place in the form of live meeting. A listed company
may use safe, economical and convenient network or by any other means for its shareholders to conveniently participate in sessions
of the general meeting of shareholders. The shareholders that participate in the meetings of the general meeting of shareholders
by any aforesaid means shall be regarded as having attended the meeting.
A shareholder may personally attend the meetings of the general meeting of shareholders and exercise his voting right, or may entrust
other person to attend the meetings and exercise the voting right within the scope of authorization.
Article 21
Where a listed company uses the network or any other means to hold meetings of the general meeting of shareholders, it shall clearly
state the time of voting and the procedures for the shareholders to vote through network or by other means.
The voting through network or by other means for the general meeting of shareholders shall be started not earlier than 3: 00 p.m.
on the day before the live meeting of the general meeting of shareholders is held and not later than 9: 30 a.m. on the day when the
live general meeting of shareholders is held, and shall be concluded not earlier than 3: 00 p.m. on the day when the live general
meeting of shareholders ends.
Article 22
The board of directors or any other convener shall take necessary measures to guarantee the normal order of the general meeting of
shareholders. Measures shall be taken to deter any act of intervening in the general meeting of shareholders, picking quarrels, provoking
troubles or damaging the lawful rights and interests of any shareholder, and it shall be timely reported to the relevant department
for investigation and punishment.
Article 23
All the shareholders or their agents registered on the date of equity registration shall be enpost_titled to attend the meetings of the
general meeting of shareholders, and the listed company or the convener shall not refuse them under any pretext.
Article 24
A shareholder shall attend the meetings of the general meeting of shareholders upon the strength of his stock account certificate,
identification card or any other valid certificates or proof that can prove his identity. An agent shall also submit the letter of
attorney issued by the shareholder as well as his own valid identification card.
Article 25
The convener and lawyer shall jointly assess the validity of the shareholders’ qualifications in light of the shareholders’ register
provided by the securities registration and settlement institution, and shall register the names of the shareholders and the amount
of their voting shares. The registration for a meeting shall be terminated before the presider of the meeting announces the number
of shareholders and agents that attend the meeting and the total amount of their voting shares.
Article 26
Where a listed company holds a session of the general meeting of shareholders, all the directors, supervisors and the secretary of
the board of directors shall attend the meeting, and the managers and other senior managers shall attend the meeting as nonvoting
delegates.
Article 27
The sessions of the general meeting of shareholders shall be held by the chairman of the board of directors. Where the chairman cannot
perform his duties or fails to perform his duties, the deputy chairman of the board of directors shall preside over the meeting;
where the deputy chairman can not perform his duties or fails to perform his duties neither, half of the directors or more shall
uniformly recommend one director to preside the meeting.
Where the board of supervisors convenes the general meeting of shareholders by itself, the chairman of the board of supervisors shall
preside over the meeting. Where the chairman cannot perform his duties or fails to perform his duties, the deputy chairman of the
board of supervisors shall preside over the meeting; where the deputy chairman still can not perform his duties or fails to perform
his duties, half of the supervisors or more shall uniformly recommend one supervisor to preside over the meeting.
Where the shareholders convene any session of the general meeting of shareholders by themselves, the conveners shall recommend one
representative to preside over the meeting.
A listed company shall formulate the rules of procedure for the general meeting of shareholders. In case that the presider of the
meeting violates the rules of procedure and makes it difficult for the general meeting of shareholders to continue in the process
of general meeting of shareholders the general meeting of shareholders may recommend one person as the presider of the meeting upon
consent of half of the voting shareholders that are present at the meeting.
Article 28
At an annual session of the general meeting of shareholders, the board of directors and the board of supervisors shall report their
work of the previous year respectively to the general meeting of shareholders, and each independent director shall also make his
duty report correspondingly.
Article 29
The directors, supervisors and senior managers shall make explanation and statement the inquiries of shareholders at the general meeting
of shareholders.
Article 30
The presider of a meeting shall declare the number of shareholders and their agents attending the meeting as well as the total amount
of their voting shares before the casting votes, and the number of shareholders and their agents attending the meeting or the total
amount of their voting shares shall be that as indicated in the meeting’s register.
Article 31
In case a shareholder has any relation with the matters to be deliberated at the general meeting of shareholders, he/it shall withdraw
from the voting, and its voting shares shall not be included in the total amount of voting shares of the shareholders that attend
the general meeting of shareholders.
The listed company has no voting right for the shares it holds, and such part of shares shall not be included in the total amount
of voting shares of the shareholders that attend the general meeting of shareholders.
Article 32
When the general meeting of shareholders votes for the election of directors or supervisors, the cumulative voting system may be implemented
according to the provisions in the Articles of Association of the company or the resolution of the general meeting of shareholders.
The “cumulative voting system” as mentioned in the preceding Paragraph means that each share has the number of voting right identical
to the number of directors or supervisors to be elected, and the voting right owned by the shareholders may be cumulatively used
when the general meeting of shareholders elects the directors or supervisors.
Article 33
Except for the cumulative voting system, the general meeting of shareholders shall vote on all the proposals item by item, and shall
vote on the proposals on the basis of the time sequence when the proposals are put forward if there are more than one proposals for
one matter. The general meeting of shareholders shall not suspend the voting of the proposals unless the meeting of the general meeting
of shareholders is paused or no resolution can be made due to force majeure or any other special reason,.
Article 34
When the general meeting of shareholders deliberates a proposal, it shall not amend the proposal, otherwise, the relevant alteration
shall be regarded as a new one and shall not be voted at the present session of the general meeting of shareholders.
Article 35
A voting right can be exercised through only one means of on the spot, through network or by any other means of voting. The first
voting result shall prevail where one voting right is repeatedly exercised.
Article 36
The shareholders attending the general meeting of shareholders shall deliver any of the following kinds of opinions about the proposals
put forward for voting: consent, objection or abstention.
Where there are ballots on which the words are not filled in, wrongly filled in or unintelligible or the ballots that are not voted,
the voters shall be regarded as having relinquished their voting rights and the voting results of their shares shall be regarded
as “abstention”.
Article 37
Before the general meeting of shareholders votes on proposals, it shall recommend two shareholders to take part in the calculation
and monitoring of the cast of ballots. In case any matter for deliberation has any relation with any shareholder, this shareholder
and his agent shall not take part in the calculation or monitoring of the cast of ballots.
When the general meeting of shareholders is voting on the proposals, the lawyers, representatives of shareholders and supervisors
shall be jointly responsible for the calculation and monitoring of ballots.
The shareholders or their agents of a listed company that vote through network or by any other means have the right to consult their
voting results through the corresponding voting system.
Article 38
The live meetings of the general meeting of shareholders shall not end earlier than the time when the voting through network or by
any other means ends. The presider of the meeting shall declare the voting and result of each proposal at the meeting, and announce
whether the proposal has been adopted according to the voting result.
Before the voting result is formally announced, the listed company, vote counters, vote supervisors, main shareholders and the network
service provider, etc. involved in the voting of the general meeting of shareholders on the spot, through network or by any other
means, shall be obliged to keep secrets to themselves.
Article 39
The resolution of the general meeting of shareholders shall be announced in a timely manner, and the announcement shall indicate the
number of shareholders and agents that attended the meeting, the total amount of their voting shares and its proportion to the total
voting shares of the company, the voting method, the voting result of each proposal and detailed contents of each resolution.
A listed company that issues foreign capital stocks listed in China shall respectively audit and announce the situation of the attendance
of the shareholders of domestic and foreign capital stocks at the meeting and that of their voting.
Article 40
If a proposal is not adopted or the general meeting of shareholders modifies the resolution of any previous session of the general
meeting of shareholders, it shall give a special explanation in the announcement on the resolution of the general meeting of shareholders.
Article 41
The secretary of the board of directors shall take charge of the records on the general meeting of shareholders, and the aforesaid
records shall indicate the following contents:
(1)
The time, place, rules of procedure of the meeting, the name of the convener;
(2)
The name of the presider of the meeting, the directors, supervisors, the secretary of the board of directors, managers and other senior
managers that attend the meeting or attend the meeting as nonvoting delegates;
(3)
The number of shareholders and agents that attend the meeting, the total amount of their voting shares and its proportion to the total
amount of shares of the company;
(4)
The process of deliberation of each proposal, the minutes of the speeches and the voting results;
(5)
The inquiries or suggestions of the shareholders as well as the corresponding replies or explanations;
(6)
The name of lawyers, vote counters, and supervisors; and
(7)
Other contents that shall be indicated in the records of the meeting as prescribed by the Articles of Association of the company.
The directors, secretary of the board of directors, convener or their agents that attend the meeting as well as the presider of the
meeting shall affix their signatures to the records of the meeting, and ensure that the contents are authentic, accurate and complete.
The records of the meeting shall be kept together with the book of signatures of shareholders that attend the meeting, the letters
of attorney for the agents as well as the valid materials about the voting through network or by any other means, and the preservative
term shall be 10 years or more.
Article 42
The convener shall ensure that the meeting of the general meeting of shareholders go on smoothly until the final resolution is made.
Where the general meeting of shareholders is paused or no resolution can be made due to force majeure or any other special cause,
necessary measures shall be taken to resume the meeting of the general meeting of shareholders or the meeting shall be directly terminated,
and an announcement shall be made in a timely manner. At the same time, the convener shall report it to the dispatched office of
the CSRC at the locality of the company and the stock exchange.
Article 43
Where the general meeting of shareholders adopts the proposal on the election of relevant directors or supervisors, the newly appointed
directors or supervisors shall take their posts according to the Articles of Association of the company.
Article 44
Where the general meeting of shareholders adopts the proposal on cash dividends, gift shares or stock dividends from capital reserves,
the listed company shall implement the specific scheme within 2 months upon conclusion of the general meeting of shareholders.
Article 45
A resolution of the general meeting of shareholders shall be invalidated if it violates any of the laws or administrative regulations.
If the procedures for convening the general meeting of shareholders or the voting method is no pursuant to any of the laws, administrative
regulations or the Articles of Association of the company, or the contents of the resolution are not pursuant to the Articles of
Association of the company, the shareholders may request the people’s court to cancel it within 60 days after the resolution is made.
Chapter V Supervisory Measures
Article 46
If a listed company fails to hold a meeting of the general meeting of shareholders without justifiable causes within the term as prescribed
by these Rules, the stock exchange has the right to suspend the listing of stocks and derivatives of the company that are listed
on this stock exchange, and require the board of directors to give explanations and make an announcement.
Article 47
If the convening or holding of the sessions of the general meeting of shareholders or the relevant information disclosure is not in
line with any of the laws, administrative regulations, these Rules or the Articles of Association of the company, the CSRC and its
dispatched office have the right to order the listed company or its relevant principals to make corrections within a time limit,
and the stock exchange shall give a public reprimand.
Article 48
If a director, supervisor or the secretary of the board of directors violates any of the laws, administrative regulations, these Rules
or the Articles of Association of the company or fails to practically perform duties, the CSRC and its dispatched office have the
right to order him/it to make corrections and the stock exchange shall give a public reprimand; if the circumstance is serious or
he/it fails to make corrections, the CSRC may prohibit the relevant persons from coming into the securities market.
Chapter VI Supplementary Provisions
Article 49
Where there are other provisions on the general meeting of shareholders of the listed companies that issues foreign capital stocks
in relevant laws, administrative regulations or documents, such provisions shall prevail.
Article 50
The “announcement” or “notice” as mentioned in these Rules shall refer to the relevant information disclosure on the newspapers or
periodicals designated by the CSRC. If the announcement or notice is too long, the listed company may disclose the summary of relevant
contents on the newspapers or periodicals designated by the CSRC. However, the full text shall be also published on the website designated
by the CSRC at meantime.
The expression “supplementary notice on the general meeting of shareholders” as mentioned in these Rules shall be announced on a designated
newspaper or periodical that publishes the notice of the meeting.
Article 51
The “or more” or “within” as mentioned in these Rules shall contain the said figure itself, while the “exceeding”, “less than” or
“more than” shall not contain the said figure itself.
Article 52
The power to interpret these Rules shall remain with the CRCS.
Article 53
These Rules shall come into force as of the date of promulgation. The Guiding Opinions of the General assembly of Shareholders of
the Listed Company (Zheng Jian Gong Si Zi [2000] No. 53) promulgated on May 18, 2000 and the Guidelines for th
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Ministry of Finance
Notice of the Ministry of Finance on Printing and Distributing the Measures for the Administration of the Collection of Special Petroleum
Proceeds
Cai Qi [2006] No. 72
To the departments (bureaus) of public finance of all provinces, autonomous regions, municipalities directly under the Central Government
and cities under separate state planning, the relevant ministries and commissions of and the relevant institutions directly under
the State Council, China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation,
In light of the Decision of the State Council on the Collection of Special Petroleum Proceeds (Guo Fa [2006] No. 13), we hereby formulate
the Measures for the Administration of the Collection of Special Petroleum Proceeds, which are hereby printed and distributed to
you, please implement them accordingly.
Appendix: Measures for the Administration of the Collection of Special Petroleum Proceeds
Ministry of Finance
March 25, 2006 Appendix:Measures for the Administration of the Collection of Special Petroleum Proceeds
Article 1
These Measures are formulated in order to promote the reform of the petroleum pricing mechanism, promote the continuous, healthy and
balanced development of national economy and regulate the administration of the collection of special petroleum proceeds.
Article 2
The “special petroleum proceeds” mentioned in these Measures shall refer to the proceeds on a certain proportion of the excessive
returns obtained from their sales of domestic crude oil when the price thereof exceeds a certain level, which is collected by the
State from the petroleum exploitation enterprises.
Article 3
All the enterprises that independently exploit and sell the crude oil within the territorial lands and waters of the People’s Republic
of China and other enterprises that exploit and sell crude oil in the form of equity or contractual joint venture in the above-mentioned
fields (hereinafter referred to as the equity or contractual joint ventures) shall pay special petroleum proceeds according to these
Measures.
Article 4
The special petroleum proceeds are non-tax incomes of the state revenue and shall be incorporated into the management of state budgetary
revenues.
Article 5
The Ministry of Finance shall be responsible for the administration of the collection of special petroleum proceeds. The petroleum
exploitation enterprises directly under the Central Government shall declare and pay special petroleum proceeds to the Ministry of
Finance, and the local petroleum exploitation enterprises shall declare and pay special petroleum proceeds to the financial supervision
commissioners’ offices dispatched by the Ministry of Finance, and the special petroleum proceeds for the joint and contractual joint
venture shall be withheld by the Chinese party.
Article 6
The special petroleum proceeds shall be collected at excessive progressive advalorem rates for five grades, and be calculated on a
monthly basis and paid on a quarterly basis.
Article 7
The ratio for the collection of special petroleum proceeds shall be determined on the basis of the monthly weighted average price
of the crude oil sold by the petroleum exploitation enterprises. For the purpose of facilitating the reference to the oil price on
international market, the price of crude oil shall be calculated at the ratio of US Dollars per barrel, and the starting point shall
be USD 40 per barrel.
The specific ratio of collection and the quick calculation deduction are prescribed in the following form (see the attached form for
the formula of calculation): htm/e04859.htm Price of Crude Oil
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Price of Crude Oil (US Dollars PerBarrel)
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Ratio of Collection
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Quick Calculation Deduction (US Dollars Per Barrel)
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40-45 (included)
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20%
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0.00
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45-50 (included)
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25%
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0.25
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50-55 (included)
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30%
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0.75
|
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55-60 (included)
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35%
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1.50
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More than 60
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40%
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2.50
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Article 8 When the special petroleum proceeds are calculated, the ratio between tonnage and barrels of crude oil shall be calculated
in light of the ratio between tonnage and barrels of the oil type actually implemented or adopted by a petroleum exploitation enterprise;
and the exchange rate between US Dollars and Renminbi shall be averagely calculated on the monthly basis at the middle price published
every day in the current month by the People’s Bank of China.
Article 9 Where a petroleum exploitation enterprise group has several affiliated petroleum exploitation enterprises, the special
petroleum proceeds shall be collected and paid by the petroleum exploitation enterprise group.
Article 10 The petroleum exploitation enterprises that pay special petroleum proceeds shall faithfully fill in the forms for the
declaration of special petroleum proceeds (see attached form), and after the collection, all the enterprise groups shall declare
and pay the special petroleum proceeds to the organs of public finance within ten working days upon the expiration of each quarter.
Article 11 The organ of public finance shall carefully examine the forms for the declaration of special petroleum proceeds reported
by petroleum exploitation enterprise groups and confirm the amount of special petroleum proceeds that the petroleum exploitation
enterprises should pay in written form. A petroleum exploitation enterprise shall turn over them into the central treasury within
five working days upon receipt of the written confirmation notification.
Article 12 The "common payment forms" uniformly printed under the supervision of the Ministry of Finance shall be generally
used for the payment of special petroleum proceeds. All the items in the payment forms shall be completely and correctly filled in.
The "Ministry of Finance" shall be filled in the column of the "organ of public finance", the "level of
the Central Government" shall be filled in the column of the "budgetary grade", and the "special petroleum proceeds"
of clause 7113 in the category 71 of "other incomes" shall be filled in the column of "budgetary category".
Article 13 In case a petroleum exploitation enterprise fails to pay special petroleum proceeds within the prescribed time limit and
in full amount, the organ of public finance shall order it to pay them within the time limit, and impose a late fee at the rate of
0.05% for each day as of the date of delay.
Article 14 No organ of public finance may illegally reduce or exempt the special petroleum proceeds that the petroleum exploitation
enterprises should pay.
Article 15 The special petroleum proceeds shall be incorporated into the costs and expenses of the enterprises, and the enterprise
income tax thereof can be deducted before the tax payment.
Article 16 In case a petroleum exploitation enterprise fails to pay special petroleum proceeds according to these Measures, the organ
of public finance shall punish it according to the Regulation on the Penalties and Sanctions against Illegal Fiscal Acts.
Article 17 These Measures shall come into force as of March 26, 2006.
Article 18 The power to interpret these Measures shall remain with the Ministry of Finance.
Attached Form: Form for the Declaration of Special Petroleum Proceeds (omitted)
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Order of China Securities Regulatory Commission
No. 29
The Administrative Measures for the Securities Registration and Settlement are hereby promulgated and shall enter into effect as of
July 1, 2007.
Chairman of China Securities Regulatory Commission, Shang Fulin
April 7, 2006
Administrative Measures for the Securities Registration and Settlement
Chapter I General Provisions
Article 1
In order to regulate the securities registration and settlement activities, protect the lawful rights and interests of investors,
maintain the securities registration and settlement order, guard against the securities registration and settlement risks and safeguarding
the safe and efficient operation of the securities market, these Measures are formulated in accordance with the Securities Law, the
Company Law and other laws and administrative regulations.
Article 2
These Measures shall be applied to the registration and settlement of stocks, bonds, shares of securities investment funds, as well
as other securities and securities derivatives (hereinafter referred to as the securities) listed in the stock exchanges.
The registration and settlement business about the non-listed securities shall be carried out with reference to these Measures.
If there are separate provisions in the laws, administrative regulations or of China Securities Regulatory Commission (hereinafter
referred to as CSRC) about the registration and settlement business about the foreign capital stocks listed in China, such provisions
shall prevail.
Article 3
The principles of openness, fairness, equity, safety and efficiency shall be followed in the securities registration and settlement
activities.
Article 4
Securities registration and settlement institutions are non-profitable legal persons that provide centralized registration, depository
and settlement services for the securities trading.
The securities registration and settlement business shall be governed by the method of nationally centralized and unified operations,
and be dealt with in the form of the centralized and unified processing by securities registration and settlement institutions.
The securities registration and settlement institutions shall carry out the industrial self-discipline management.
Article 5
The securities registration and settlement activities shall be subject to the laws, administrative regulations, the provisions of
the CSRC and the business operational rules formulated by the securities registration and settlement institutions in accordance with
law.
Article 6
The CSRC shall supervise and administer the securities registration and settlement institutions as well as securities registration
and settlement activities according to law.
Chapter II Securities Registration and Settlement Institutions
Article 7
The establishment and dissolution of securities registration and settlement institutions shall be subject to the approval of the
CSRC.
Article 8
A securities registration and settlement institution shall perform the functions as follows:
(1)
The establishment and management of securities accounts and settlement accounts;
(2)
The depository and transfer of securities;
(3)
The registration of the roster of securities holders as well as the registration of their rights and interests;
(4)
The liquidation and delivery of securities and capital as well as the relevant management;
(5)
The distribution of securities rights and interests upon the strength of the entrustment of issuers;
(6)
Providing the inquiry, information, consultancy and training services relating to the securities registration and settlement business
according to law; and
(7)
Other businesses as approved by the CSRC.
Article 9
A securities registration and settlement institution shall not carry out any of the activities as follows:
(1)
The investments that are irrelevant to the securities registration and settlement business;
(2)
Purchasing non-self-use real estate;
(3)
Purchasing or selling securities not under Article 65 or 66 of these Measures; or
(4)
Other activities as prohibited by the laws, administrative regulations or the CSRC.
Article 10
The following matters of securities registration and settlement institutions shall be reported to the CSRC for approval:
(1)
The formulation or revision of Articles of association or business operational rules;
(2)
The important international cooperation and communication activities or the important affairs related to Hong Kong, Macao or Taiwan;
(3)
The formulation or adjustment of main charging items or rates related to the securities registration and settlement;
(4)
The appointment or removal of the chairman or deputy chairman of the board of directors, the general manager or deputy general manager;
or
(5)
Other matters that shall be reported to the CSRC for approval.
The “business operational rules” as mentioned in the Item (1) of the preceding Paragraph means the rules about the securities registration
and settlement business, such as the management of securities accounts, securities registration, securities custody and depository,
securities settlement and management of settlement participants of the securities registration and settlement institutions.
Article 11
The following matters and documents of securities registration and settlement institutions shall be reported to the CSRC:
(1)
The detailed rules for the business operations;
(2)
The formulation or alteration of the business management rules, the business resumption plans and the emergency handling procedures;
(3)
The handling of the registration and settlement business related to new securities varieties or the alteration of the modes for registration
and settlement business;
(4)
The acquisition or deprivation of the qualifications of settlement participants or settlement banks;
(5)
The discovery of significant business operational risks or technical risks, significant illegal or irregular acts, or the involvement
in significant lawsuits;
(6)
The appointment or removal of the general manager of any subsidiary, the assistant of the general manager of the company, or the person-in-charge
of a department of the company;
(7)
Annual work reports on the relevant business operations or the conditions on the implementation of the relevant state provisions;
(8)
Annual financial reports audited by an accountant firm, schemes on financial budgets and final accounts, projects with large expenses,
the hiring or replacement of accountant firms;
(9)
The main business cooperation agreements reached with stock exchanges, and the sample formats of various business agreements reached
with the securities issuers, settlement participants and settlement banks; and
(10)
Other matters and documents that the CSRC requires reporting.
Article 12
A securities registration and settlement institution shall properly keep the original vouchers as well as the relevant documents
and materials about the registration, depository and settlement, which shall be kept for not less than 20 years.
Article 13
A securities registration and settlement institution shall manage the data and materials exclusively, which formulates for the securities
registration and settlement business. Without the consent of the securities registration and settlement institution, any organization
or individual may not use the data and materials under exclusive management for any commercial purpose.
Article 14
A securities registration and settlement institution and its staff members shall keep confidential the data and materials related
to the securities registration and settlement business according to law.
A securities registration and settlement institution shall refuse the inquiry of the data and materials related to the securities
registration and settlement, except for the circumstances as follows:
(1)
The securities holder inquires about his or its’ own securities materials;
(2)
The securities issuer inquires about the roster of securities holders and the relevant materials;
(3)
The stock exchange requires the securities registration and settlement institution to provide the relevant data and materials in order
to perform its functions according to law; or
(4)
The people’s court, the people’s procuratorate, the public security organ or the CSRC inquires or obtains evidences in the light of
statutory conditions and procedures.
A securities registration and settlement institution shall take effective measures to facilitate the securities holders’ inquiry about
the holding records of their own securities.
Article 15
A securities registration and settlement institution shall make public its business operational rules, and the main charging items
and rates related to the securities registration and settlement.
If a securities registration and settlement institution formulates or revises its business operational rules, adjusts the main charging
items or rates related to the securities registration and settlement, it shall solicit the opinions of the relevant market participants.
Article 16
The staff members of securities registration and settlement institutions shall be dedicated to their posts, deal with affairs according
to law, and shall not seek for unjustifiable interests by taking advantage of their posts or divulge the business secrets of relevant
entities or individuals they have known.
If a securities registration and settlement institution violates the Securities Law or these Measures, the CSRC shall give it an administrative
punishment; and the principal and other persons who are directly responsible for shall be subject to administrative punishments.
Chapter III Management of Securities Accounts
Article 17
An investor shall hold the securities through his securities accounts, and the securities accounts shall be used for recording the
balance of securities held by the investor as well as the information on the change of securities.
Article 18
The securities shall be recorded in the securities accounts of the securities holders themselves, however, if any of the laws, administrative
regulations or the CSRC prescribe that the securities may be recorded in the securities accounts of a nominal holder, such provisions
shall prevail.
In order to perform their duties according to law, a securities registration and settlement institution may require a nominal holder
to provide the relevant materials about the owners of securities rights and interests under its name.
Article 19
An investor shall submit an application to a securities registration and settlement institution to open a securities account.
Applying for opening a securities account, an investor shall ensure that the materials he/it submits for opening the account are true,
accurate and integral.
Article 20
A securities registration and settlement institution may directly open securities accounts for investors, or may entrust securities
companies to do so.
A securities registration and settlement institution shall follow the principles of facilitating investors and optimizing the allocation
of account resources when opening securities accounts for investors.
Article 21
Where a securities company opens a securities account on commission, it shall apply to a securities registration and settlement institution
for the acting qualification for opening accounts.
When opening securities accounts on commission, a securities company shall examine the authenticity, accuracy and integrity of the
originals of valid identity cards and other account opening materials provided by the investors in the light of the business operational
rules of the securities registration and settlement institution, and the relevant account opening materials shall be properly kept
for not less than 20 years.
Article 22
The investor may not provide his/its securities account to any other person to use.
Article 23
According to the business operational rules, a securities registration and settlement institution shall supervise over the opening
of securities accounts by the acting account opening institutions. If the acting account-opening institution violates the business
operational rules, the securities registration and settlement institution may suspend or cancel its acting qualification for opening
accounts in the light of the business operational rules, and ask the CSRC to suspend or cancel its relevant licensed securities business
in accordance with the relevant provisions; and the principal and other persons held to be directly responsible shall singly or concurrently
be subject to warning, fine, revocation of practicing qualifications or securities practicing qualifications, etc.
Article 24
A securities company shall keep informed of the materials and the credit status of its clients, and supervise over the use of securities
accounts of its clients. If a securities company finds that any of its clients commits any illegal act during the course of using
the securities account, it shall handle it in the light of the business operational rules of the securities registration and settlement
institution, and timely report it to the securities registration and settlement institution and the stock exchange. If any legal
person establishes a securities account in any other’s name or makes use of the securities account of any other’s for purchasing
and selling of securities, the securities company shall also report it to the CSRC, which shall punish it in accordance with law.
Article 25
If an investor commits the illegal act during the period of opening or using a securities account, the securities registration and
settlement institution shall, according to law, take measures to limit the use of or write off the illegal securities account, etc.
Chapter IV Securities Registration
Article 26
An issuer of listed securities shall entrust a securities registration and settlement institution to deal with the registration of
the securities it has issued.
A securities registration and settlement institution shall reach a securities registration and service agreement with the securities
issuer that entrusts it to deal with the securities registration business and specify the rights and obligations of both parties.
A securities registration and settlement institution shall formulate and publish the model texts of securities registration and service
agreements.
A securities registration and settlement institution may deal with the registration of listed governmental bonds according to the
requirements of the competent department for government bonds.
Article 27
In accordance with the records of securities accounts, a securities registration and settlement institution shall confirm the facts
of the securities holders’ holding the securities, and implement the registration of the roster of securities holders.
Article 28
After the public issuance of securities, a securities issuer shall submit the roster of securities issuers that have issued the securities
and other relevant materials to the securities registration and settlement institution. The securities registration and settlement
institution shall deal with the initial registration of the roster of securities issuers based thereon.
A securities issuer shall guarantee the legality, truthfulness, accuracy and integrity of the materials it submits. A securities registration
and settlement institution shall not be responsible for the losses and legal consequences incurred from the mistakes in the roster
of securities issuers or other relevant materials made by the securities issuers.
Article 29
Where the securities are listed and traded in a stock exchange, the securities registration and settlement institution shall deal
with the alteration registration of the roster of securities issuers according to the delivery results of the securities transactions.
If the securities are transferred by way of agreement-based transfer, inheritance, compulsory enforcement or administrative appropriation,
the securities registration and settlement institution shall alter the balance of the relevant securities account in the light of
its business operational rules, and deal with the corresponding alteration registration of the roster of securities issuers.
If the securities are mortgaged, locked or frozen and thus the rights of the owner thereof are limited, the securities registration
and settlement institution shall indicate it on the roster of securities holder.
Article 30
A securities registration and settlement institution shall guarantee the truthfulness, accuracy and integrity of the roster of securities
holders and the transfer registration records, and shall not disguise, forge or destroy any of them.
Article 31
In the light of its business operational rules and the agreements, a securities registration and settlement institution shall regularly
circulate the roster of securities holders and other relevant materials to the securities issuers.
Article 32
If a securities issuer applies for providing the distribution of rights and interests and other agency services, it shall submit
the relevant materials and pay the money to the securities registration and settlement institution in the light of the business operational
rules and the agreement.
If a securities issuer fails to perform the aforesaid obligation in time, the securities registration and settlement institution has
the right to delay or refuse the handling thereof, and the securities issuer shall issue an announcement and explain the relevant
conditions in time.
Article 33
If a securities issuer or its liquidation group terminates the securities registration or other relevant service agreement, the securities
registration and settlement institution shall provide it with the roster of securities holders and other registration materials according
to law.
Chapter V Custody and Depository of Securities
Article 34
An investor shall entrust a securities company with the custody of its securities, and the securities company shall keep its own
securities and the securities of its clients under its custody at a securities registration and settlement institution, except for
being otherwise prescribed by the laws, administrative regulations or the CSRC.
Article 35
A securities registration and settlement institution shall set up general ledgers for the securities of the securities companies’
clients and general ledgers for its own securities for the statistics of the securities of the securities companies’ clients and
its own securities.
A securities company shall entrust a securities registration and settlement institution to maintain for its clients’ securities account
and its own securities account, except for being otherwise prescribed by the laws, administrative regulations or the CSRC.
Article 36
When buying or selling securities, an investor shall conclude a securities trading, trusteeship and settlement agreement with a securities
company.
A securities registration and settlement institution shall formulate and publish the necessary Articles of the securities registration
and settlement in the securities trading, custody and settlement agreement. The necessary Articles shall include but not be limited
to the contents as follows:
(1)
The securities company shall submit an application for the trading of securities upon the strength of the entrustment of its client
and in the light of the securities trading rules, complete the delivery of securities and capital with its client according to the
transaction results, and assume the corresponding obligations of delivery; while the client shall allow the securities company to
entrust a securities registration and settlement institution to deal with the securities delivery between its/his securities account
and the securities delivery account of the securities company after concentrated transactions;
(2)
If a pledge-type repurchase transaction is implemented, the investor and the securities company shall submit the pledged coupons for
repurchase to the securities registration and settlement institution in the light of the business operational rules. The relationship
of credits and debts between the investor and the securities company shall not affect the securities registration and settlement
institution, which, in the light of the business operational rules, carries out its right to the pledged coupons as submitted by
the securities company; and
(3)
The securities company may entrust the securities registration and settlement institution to transfer the net bought-in securities
into its securities disposal account when a client defaults in the delivery of capital, and require the client to make up the capital
within the stipulated time limit. The securities company may refuse to transfer the capital equivalent to the amount of defaulted
securities to the client temporarily when a client defaults in the delivery of securities.
Article 37
A securities company shall report the matters concerning the establishment, alteration and termination of securities custody relationships
with its clients to the securities registration and settlement institution.
The aforesaid matters shall be recorded down by the securities registration and settlement institution.
Article 38
If a client requires the securities company to transfer its/his securities to an other securities company for custody, the relevant
securities company shall handle it according to the relevant business operational rules of the stock exchange and the securities
registration and clearing institution, and shall not refuse to do so except for being otherwise prescribed by laws, administrative
regulations or the CSRC.
Article 39
A securities company shall take effective measures to ensure the safety of the securities under custody, and shall not misappropriate
or sell the aforesaid securities without authorization.
A securities registration and clearing institution shall take effective measures to ensure the safety of the securities it keeps,
and shall not misappropriate or sell the aforesaid securities without authorization.
Article 40
The pledge, lock-up, freeze or deduction of securities shall be managed by the securities company, which entrusts the custody of
the securities and the securities registration and settlement institution in the light of the relevant provisions as set down by
the securities registration and settlement institution.
Chapter VI Liquidation and Delivery of Securities and Capital
Article 41
To participate in the centralized liquidation and delivery of securities and capital, a securities company shall apply to the securities
registration and settlement institution for obtaining the qualification of a settlement participant, conclude a settlement agreement
with the securities registration and settlement institution and specify the obligations and obligations of both parties.
If the securities company has not obtained the qualification of a settlement participant, it shall conclude an entrusted settlement
agreement with a settlement participant so as to entrust the settlement participant for the centralized liquidation and delivery
of securities and capital on its behalf.
The model texts of the settlement agreement and the entrusted settlement agreement shall be formulated and published by the securities
registration and settlement institution.
Article 42
A securities registration and settlement institution shall choose a qualified commercial bank as the settlement bank for dealing
with the capital transfer.
The conditions for settlement banks shall be prescribed by the securities registration and settlement institution.
Article 43
The settlement of securities and capital shall be governed by the principle of graded settlement. The securities registration and
settlement institution shall take charge of dealing with the centralized liquidation and delivery between itself and the settlement
participants; and the settlement participants shall be responsible for handling the centralized liquidation and delivery between
themselves and their own clients.
Article 44
A securities registration and clearing institution shall establish an account of centralized securities delivery and an account of
centralized capital delivery so as to deal with the centralized liquidation and delivery between itself and the settlement participants.
In accordance with the rules as set down by the securities registration and settlement institution, a settlement participant shall
apply for opening an account of centralized securities delivery and an account of centralized capital delivery so as to deal with
the delivery of securities and capital. A settlement participant engaging in the self-management business and the brokerage business
simultaneously shall apply for opening an account of self-management securities and capital delivery and an account of the clients’
securities and capital delivery separately for dealing with the self-management securities and capital delivery and the securities
and capital delivery for the brokerage business.
Article 45
If a securities registration and settlement institution adopts the method of multi-lateral netting settlement, it shall act as a
central counter party (CCP) of the settlement participants in accordance with the business operational rules, and deal with the liquidation
and delivery by taking a settlement participant as a settlement unit in the light of the principle of delivery versus payment (DVP).
Article 46
The settlement agreement concluded by a securities registration and settlement institution and the settlement participant in the
multi-lateral netting settlement shall include:
(1)
As to a securities exchange contract for which the settlement participant takes charge of settlement, the right of both settlement
participants to the aforesaid contract to collect the securities or capital from the opposite party and the obligation of the aforesaid
opposite party to pay the capital or securities shall be both transferred to the securities registration and settlement institution;
and
(2)
The securities registration and settlement institution shall enjoy the right and perform the obligation of both settlement participants
to the original contract to the opposite party after accepting the right and obligation prescribed in the preceding paragraph.
Article 47
When a securities registration and settlement institution implements multi-lateral netting liquidation, it shall compute the net
amounts receivable and payable according to the netting of the securities and capital of the settlement participants, and notify
the liquidation results to the settlement participants upon conclusion of the liquidation in time.
If a securities registration and settlement institution adopts the other settlement method, it shall implement the liquidation in
accordance with the relevant business operational rules.
Article 48
Before conducting a centralized delivery, a settlement participant shall collect the securities and capital payable from its clients,
and shall retain sufficient securities and capital in its securities delivery account and its capital delivery account.
The securities transfer between a settlement participant and its clients shall be dealt with by a securities registration and settlement
institution on commission.
Article 49
In the period of a centralized delivery, a securities registration and settlement institution shall collect the capital and securities
payable from the settlement participants at the time of delivery, and shall deliver the securities and capital receivable at the
same time. The delivery may not be revoked after being completed.
If a settlement participant has not sufficiently performed the obligation of securities or capital delivery, it cannot obtain the
corresponding capital or securities.
With respect to a settlement participant which engages in the self-management business and the brokerage business or asset management
business simultaneously, the securities registration and settlement institution can use the capital in the self-management capital
delivery account of the aforesaid settlement participant to complete the delivery if the capital in its client’ capital delivery
account is not sufficient.
Article 50
A settlement participant shall deliver the securities and capital receivable to its clients after conducting a centralized delivery.
The securities transfer between a settlement participant and its clients shall be dealt with by a securities registration and settlement
institution on commission.
Article 51
A securities registration and settlement institution shall, in the settlement business operational rules, separately prescribe the
time limits for the centralized delivery of securities and capital between the settlement participants and itself as well as the
centralized delivery of securities and capital between a settlement participant and its clients.
A settlement participant shall accomplish the work of delivering the securities and capital within the prescribed time limit for delivery.
Article 52
Where the liquidation results are wrong because of the securities registration and settlement institution, the settlement participant
may require the securities registration and settlement institution to make corrections after performing the obligation of delivery,
and assume the direct losses it has suffered.
Chapter VII Risk Prevention and Handling of Delivery Default
Section I Risk Prevention and Control Measures
Article 53
A securities registration and settlement institution shall take the measures as follows so as to strengthen the risk prevention and
control of the securities registration and settlement business:
(1)
Constituting perfect risk prevention rules and internal control rules;
(2)
Establishing a perfect technical system, and formulating technical standards and criteria that shall be observed by all settlement
participants;
(3)
Establishing perfect entrance standards and risk evaluation system for the settlement participants and the settlement banks; and
(4)
Making backups for the settlement data and the technical system, and formulating business-related emergency dealing with procedures
and operational procedures.
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Ministry of Commerce
Notice of Ministry of Commerce about Further Improving the Work of Attracting Foreign Capital in Logistics Area
Shang Zi Han [2006] No.38
The competent department of commerce of all provinces, autonomous regions, municipalities directly under the Central Government, and
cities specifically designated in the state plan, and Xinjiang Production and Construction Corps.
Since 2000, according to the spirit of Circular on Relevant Issues concerning the Development of Establishment of Pilot Logistics
Foreign-funded Enterprises by the Ministry, a batch of foreign funded logistic enterprises have been established upon the approval
in all pilot areas. The expansion of pilot work has played an active action on the health development of international trade of our
country and the modern logistics industry. For further development on extending opening up to the outside world in logistic area
and promoting foreign investment on logistic enterprises on the basis of pilot, we hereby noticed as follows:
1.
The expression “foreign investment on logistic enterprises” refers to the foreign funded enterprises whose main business activities
shall be the logistic and relevant services provided for other enterprises, including foreign funded enterprise on the road transportation,
foreign funded enterprise on waterway transportation, foreign funded enterprise on air transportation, foreign funded enterprise
on freight agency, foreign funded enterprise on commerce, foreign funded enterprise on logistic of the third party and other foreign
funded enterprises engaged in other logistic or relative business of logistics.
2.
The foreign investor may apply to establish the foreign funded logistic enterprise to engage in one or more business of logistics
according to the Provisions on the Administration of Foreign Investment in the Road Transport Sector, Provisions on Administration
of Foreign Investment in International Maritime Transportation, Provisions on Foreign Investment in Civil Aviation, Interim Measures
for Approval and Administration concerning the Foreign Investment on Railway Freight Transportation, Administration Measures on Foreign-funded
International Freight Agency Enterprises, Measures for the Administration on Foreign Investment in Commercial Fields and other laws
and regulations on foreign investment. Thereinto when applying for more businesses of logistics, the highest condition shall be satisfied
among the qualification conditions required by every business of logistics when applied separately.
3.
With regard to the good result on the pilot work of establishing foreign funded logistic enterprises, the foreign investor shall be
permitted to establish the foreign funded logistic enterprise with the form of joint venture, cooperative and solely-funded throughout
the country. The foreign funded logistic enterprise may be engaged in part of or all businesses prescribed in Article 5 of the Circular
upon the approval, and its minimum limitation amount of registered capital shall no longer be limited, but the foreign funded logistic
enterprise shall, according to the operation business, accordingly accord with the requirement of minimum limitation of registered
capital and other requirements prescribed by the Measures for the Administration on Foreign Investment in Commercial Fields, the
Administration Measures on Foreign-funded International Freight Agency Enterprises, the Provisions on the Administration of Foreign
Investment in the Road Transport Sector and other relevant laws and regulations on foreign investment. Except the enterprise that
shall be approved by Ministry of Commerce prescribed by the above mentioned department rules or other laws and regulations on foreign
investment, other foreign funded logistic enterprise shall be approved by the competent department of commerce at provincial level.
4.
The competent department of commerce at all levels shall do good work on attracting foreign investment in logistic areas in accordance
with all provisions above mentioned and relevant laws and rules on foreign investment. The application materials shall be reported
to the Ministry of Commerce in the prescribed time limit when the limit of authority for approval by locality has been exceeded.
5.
The competent department of commerce of all places that has the limits of authority for approval shall not abuse their administrative
power; with regard to the application for establishing the branch at the locality by the logistic enterprises coming from other areas,
if it accords with the legal condition, the decision of administrative permission shall be made in time.
6.
In case any relevant provision in the Circular on Relevant Issues concerning the Development of Establishment of Pilot Logistics Foreign-funded
Enterprises (NO.615 [2002] of the Letter of the MOFTEC) by Ministry of Foreign Trade and Economic Cooperation is inconsistent with
the present Notice, the present Notice shall prevail.
7.
The present Notice shall be implemented as of March 31, 2006.
Ministry of Commerce
April 20, 2006
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Ministry of Commerce
2006-04-20
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Order of the President of the People’s Republic of China
No. 50
The Passport Law of the People’s Republic of China, which was adopted at the 21st Session of the Standing Committee of the 10th National
People’s Congress of the People’s Republic of China on April 29, 2006, is hereby promulgated and shall come into force as of January
1, 2007.
Hu Jintao, President of the People’s Republic of China
April 29, 2006
The Passport Law of the People’s Republic of China
(Adopted at the 21st Session of the Standing Committee of the 10th National People’s Congress of the People’s Republic of China on
April 29, 2006)
Article 1
The present law is formulated in order to regulate the application, issuance and management of passports of the People’s Republic
of China, guarantee the rights and interests of the citizens of the People’s Republic of China exiting and entering the People’s
Republic of China and promote the intercourse with foreign countries.
Article 2
Passports of the People’s Republic of China are the certificates, upon which the citizens of the People’s Republic of China exit
and enter China and prove their nationalities and identities when they are staying abroad.
No organization or individual may forge, alter, transfer, deliberately damage or destroy, or illegally hold or detain any passport.
Article 3
Passports are classified into ordinary passports, diplomatic passports and service passports.
The passport shall be recommended by the Ministry of Foreign Affairs to foreign governments through the diplomatic channel.
Article 4
Ordinary passports shall be issued by the exit/entry administrative departments of the Ministry of Public Security or the exit/entry
administrative departments of the public security organs of the local people’s governments at or above the county level as authorized
by the Ministry of Public Security, and the embassies or consulates stationed abroad of the People’s Republic of China or other institutions
stationed abroad upon the authorization of the Ministry of Foreign Affairs.
Diplomatic passports shall be issued by the Ministry of Foreign Affairs.
Service passports shall be issued by the Ministry of Foreign Affairs, the embassies or consulates stationed abroad of the People’s
Republic of China or other institutions stationed abroad upon the authorization of the Ministry of Foreign Affairs, and the foreign
affair departments of the people’s governments of the provinces, autonomous regions, municipalities directly under the Central Government
and districted cities upon the authorization of the Ministry of Foreign Affairs.
Article 5
Where a citizen goes abroad for residence, visiting relatives, study, employment, travel, business activities or other non-official
service reasons, he shall file an application with the exit/entry administrative department of the public security organ of the local
people’s government at the county level or above where his own permanent residence is located.
Article 6
When applying for an ordinary passport, a citizen shall submit his own resident identity certificate, residence register, recent
full-face photos without hat and materials related to the reasons for the application. Where a state functionary applies for an ordinary
passport for any reason as prescribed in Article 5 of the present law, he shall additionally submit the relevant certification documents
according to the relevant provisions of the state.
The exit/entry administrative department of the public security organ shall issue an ordinary passport within 15 days after receiving
the application materials. If it disapproves the issuance of a passport since that the application materials do not meet the relevant
provisions, it shall give the applicant a written explanation and inform him of his right to apply for an administrative review or
to lodge an administrative lawsuit.
In a remote region or area without convenient traffics, or under special circumstances, if it is unable to issue a passport within
the time limit, the time limit may be extended to 30 days upon the approval of the principal of the passport issuance department.
Where a citizen requests for going through the relevant formalities urgently for obtaining a passport at an earlier date due to any
reasonable emergency, the exit/entry administrative department of the public security organ shall fulfill the relevant formalities
timely.
Article 7
The items registered on an ordinary passport shall include the name, gender, birth date and birth place of the passport holder, as
well as the issuance date, valid period, issuance place and issuance organ of the passport.
The valid period of an ordinary passport shall be five years for a holder under the age of 16, and be ten years for a holder at or
above the age of 16.
The detailed measures for the issuance of ordinary passports shall be formulated by the Ministry of Public Security.
Article 8
Diplomatic officials, consular officials and their accompanying spouses and minor children, and diplomatic messengers shall hold
and use diplomatic passports.
The personnel dispatched by the Chinese Government to the embassies or consulates stationed abroad of the People’s Republic of China,
or to the United Nations, the special agencies of the United Nations and other international inter-governmental organizations, as
well as their accompanying spouses and minor children shall hold and use service passports.
Where any citizen other than those as prescribed in the preceding 2 paragraphs goes abroad to execute any official business, his working
entity shall file an application with the department of foreign affairs according to the provisions of the second and the third paragraphs
of Article 4 of the present law. And the department of foreign affairs shall, in light of actual demands, issue a diplomatic passport
or service passport.
Article 9
The items registered on a diplomatic passport or service passport shall include the name, gender, birth date and birth place of the
passport holder, as well as the issuance date, valid period and issuance organ of the passport.
The issuance scope, issuance measures and valid period of diplomatic passports and service passports, and the detailed categories
of service passports shall be formulated by the Ministry of Foreign Affairs.
Article 10
Where any passport holder modifies any of the items registered on the passport, he shall, upon the strength of relevant certification
materials, file an application with the issuance organ for modifying the passport or adding a note to the passport.
Article 11
Under any of the following circumstances, the passport holder may apply for changing the passport for a new one or reissuing a passport
according to relevant provisions:
(1)
The valid period of the passport will expire soon;
(2)
The visa pages of the passport will be used up;
(3)
The passport is damaged or destroyed and it cannot be used any more;
(4)
The passport is lost or stolen; or
(5)
Other circumstances under which it is justifiable to change or reissue a passport.
When applying for changing an ordinary passport for a new one or reissuing a ordinary passport, the passport holder, if within China,
shall file an application with the exit/entry administrative department of the public security organ of the local people’s government
at the county level or above where his permanent residence is located; if outside China, he himself shall file an the application
with the embassy or consulate stationed abroad of the People’s Republic of China, or with any other institution stationed abroad
upon the authorization of the Ministry of Foreign Affairs. Where a Chinese citizen, who resides abroad, after returning to China,
applies for changing an ordinary passport for a new one or reissuing a new one, he himself shall file an application with the exit/entry
administrative department of the public security organ of the local people’s government at the county level or above where his temporary
abode is located.
The change or reissue of a diplomatic passport or service transport shall accord with the relevant provisions of the Ministry of Foreign
Affairs.
Article 12
A passport shall be readable either by human eyesight or by machine.
The anti-counterfeiting performance of a passport shall be made by referring to the international technical standards.
The passport issuance departments and their functionaries shall keep the personal information of the citizens confidential that they
have accessed to when making or issuing passports.
Article 13
Under any of the following circumstances, the passport issuance departments shall not issue any passport to the applicant:
(1)
He does not have the nationality of the People’s Republic of China;
(2)
He is unable to prove his identity;
(3)
He cheats during the process of application;
(4)
He has been sentenced to any criminal punishment and is serving the sentence at present;
(5)
He is not permitted to leave China because the people’s court has notified him of any pending civil case;
(6)
He is a defendant or criminal suspect of a criminal case; or
(7)
The competent organ of the State Council believes that his leaving China will do harm to the state security or result in serious
loss to the benefits of the state.
Article 14
In case an applicant is under any of the following circumstances, the passport issuance departments shall not issue to him any passport
within 6 months to 3 years as of the day when he completes the criminal punishment or he is repatriated to China:
(1)
He is sentenced to any criminal punishment due to his hindering the administration of national border (frontier); or
(2)
He is repatriated to China due to his illegal leaving from China, illegal dwelling or illegal employment overseas.
Article 15
The people’s courts, people’s procuratorate, organs of public security, organs of state security, organs of administrative supervision
may, in light of the needs for handling cases, detain the passports of the parties concerned in the cases.
Where a party concerned in a case refuses to hand in his passport, the state organs as prescribed in the preceding paragraph may propose
the passport issuance department to announce the invalidation of the passport of the party concerned.
Article 16
Where a passport holder loses his nationality of the People’s Republic of China, or the passport of the holder is lost or stolen,
the passport shall be announced to be invalidated by the passport issuance department.
The passport, which is fabricated, altered, obtained by cheating, or announced invalid by the issuance organ, shall be invalid
Article 17
Where any person obtains a passport by cheating, the passport shall be taken over by the passport issuance department or be announced
invalid. The organ of public security shall give him a fine not less than 2, 000 Yuan but not more than 5, 000 Yuan. If any crime
is constituted, he shall be subject to criminal liabilities.
Article 18
Where any person offers to others any fabricated or altered passport, or sells any passport, he shall be subject to criminal liabilities.
If the circumstance is not serious enough to make him subject to criminal liabilities, the public security organs shall confiscate
his illegal gains, detain him for not less than 10 days but not more than 15 days, and impose a fine upon him not less than 2, 000
Yuan but not more than 5, 000 Yuan. The illegal passports as well as the printing and production equipments shall also be taken over
by the public security organs.
Article 19
Where a person exits/ enters the national border (frontier) by holding a fabricated or altered passport or by holding the passport
of another person, he shall be punished by the public security organs according to the laws and provisions on exit/entry administration,
and the illegal passport shall be taken over by the public security organs.
Article 20
Where any functionary of a passport issuance department commits any of the following acts during the process of handling a passport,
he shall be imposed upon an administrative sanction. If any crime is constituted, he shall be subject to criminal liabilities:
(1)
Failing to accept an application that he should have accepted;
(2)
Without any justifiable reason, not issuing a passport within the statutory time limit;
(3)
Charging any fee beyond the criterions as prescribed by the state;
(4)
Extorting or accepting bribes from any applicant;
(5)
Impairing the legitimate rights and interests of any citizen due to leaking the personal information of the citizen that he has accessed
to when making or issuing a passport; or
(6)
Other acts such as abusing his power, neglecting his duties, seeking private benefits and so on.
Article 21
Ordinary passports shall conform to the format as prescribed by the Ministry of Public Security and be made under the supervision
of the Ministry of Public Security. Diplomatic passports and service passports shall conform to the formats as prescribed by the
Ministry of Foreign Affairs and shall be made under the supervision of the Ministry of Public Security.
Article 22
The passport issuance departments may collect the costs of passports and the note fees for passports. The costs of passports and
the note fees charged shall be turned over to the state treasury.
The criterions on the costs of passports and the note fees shall be prescribed and announced by the pricing administrative department
of the State Council jointly with the finance department of the State Council.
Article 23
As for a citizen whose passport is lost, stolen, destroyed or damaged while he stays abroad for a short period, he shall file an
application for a travel certificate with the embassy or consulate stationed abroad by of the People’s Republic of China or with
any other institution stationed abroad upon the authorization of the Ministry of Foreign Affairs.
Article 24
A citizen, who engages in border trade, border traveling service or participates in border travel, may file an application for a
exit/entry pass with the exit/entry administrative department of the public security organ of the local people’s government at or
above the county level upon the authorization of the Ministry of Public Security.
Article 25
A citizen, who exits and enters the national border and works in a foreign ship as a seaman, shall file an application for a seaman
certificate of the People’s Republic of China with the maritime administrative department upon the authorization of the Ministry
of Communications.
Article 26
The present law shall come into force as of January 1, 2007. The passports issued prior to the implementation of the present law
shall remain valid during their respective valid periods.
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The Standing Committee of the National People’s Congress
2006-04-29
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Circular of Shenzhen Stock Exchange concerning Promulgating the Transaction Standards of Shenzhen Stock Exchange
All the member entities:
The Transaction Standards of Shenzhen Stock Exchange upon approval of China Securities Regulatory Commission (CSRC) are herby promulgated,
and the related matters concerning the implementation thereof are notified as follows:
I.
The Transaction Standards of Shenzhen Stock Exchange shall go into effect as of July 1, 2006, and the Transaction Standards of Shenzhen
and Shanghai Stock Exchanges promulgated on August 31, 2001 shall be abolished at the same time.
II.
This Exchange will, temporarily, not accept the declaration by the conclusion of transactions at the best five prices and in real
time and the cancellation of remaining orders, the declaration by the conclusion of transactions in real time and the cancellation
of orders, and the declaration by the conclusion of transactions in full amount or the cancellation of orders mentioned in Article
3 .4.4 of the Transaction Standards of Shenzhen Stock Exchange at present, and this Exchange shall give further notice about the
time for accepting the aforesaid three market orders.
Shenzhen Stock Exchange
May 15, 2006
Transaction Standards of Shenzhen Stock Exchange
Chapter I General Provisions
1.1
In order to regulate the transactions in the securities market, maintain the order of the securities market, and protect the lawful
rights and interests of investors, these Rules are instituted in accordance with the Securities Law of the Peoples Republic of
China and other laws, administrative regulations, ministerial rules and the Articles of Association of Shenzhen Stock Exchange.
1.2
The transactions concerning the listed securities and their derivatives (hereinafter referred to as securities) of Shenzhen Stock
Exchange (hereinafter referred to as this Exchange) shall comply with these Rules.
Any matter that has not been prescribed in these Rules shall comply with other related provisions of this Exchange.
1.3
The securities transactions shall follow the principles of openness, fairness and equity.
1.4
The transactions of investors shall comply with the laws, administrative regulations, ministerial rules and the related business
operational rules of this Exchange, and the principles of free will, compensation and good faith.
1.5
The securities transactions shall employ the paperless centralized transactions and other methods upon approval of the China Securities
Regulatory Commission(referred to as the CSRC herein after).
Chapter II Trading Market
Section 1 Trading Places
2.1.1
This Exchange will provide trading places and facilities for the securities transactions. The trading places and facilities consist
of the exchange server, trading hall, trading seats, offering system and related communications systems, etc.
2.1.2
Approved by this Exchange, any member may declare by the traders assigned to the trading hall by it.
Without the special approval of this Exchange, those allowed to enter into the trading hall shall be limited to the persons as follows:
(1)
The registered traders; and
(2)
The personnel for supervision of the hall.
2.1.3
This Exchange will manage the trading competence of the members, and the concrete measures therefor shall be respectively prescribed
and go into effect after being reported to and approved by the CSRC.
Section 2 Trading Varieties
2.2.1
The securities as follows may be listed in this Exchange:
(1)
Stocks;
(2)
Funds;
(3)
Bonds;
(4)
Treasury bonds repurchase (T-bond repurchase) ;
(5)
Warrants; and
(6)
Other trading varieties upon approval of the CSRC.
Section 3 Trading Hours
3.1
The trading days of this Exchange are every week except Saturday and Sunday.
On State statutory holidays and the rest days announced by this Exchange, this Exchange will rest.
3.2
The securities are traded by means of competitive bidding, 9 to 95 every trading day shall be the time for the aggregate auction
of opening quotation; 90 to 110 and 130 to 147 shall be the time for continuous auction; and 147 to 150 shall be
the time for the aggregate auction of closing quotation.
As approved by the CSRC, this Exchange may modulate the trading hours.
3.3
If the trading is suspended because of some reasons within the trading hours, the trading hours will not be put off.
Chapter III Purchase and Sales of Securities
Section 1 General Provisions
3.1.1
After accepting the entrustment of purchase and sales from an investor, any member shall make declaration to this Exchange in accordance
with the entrustment, and be responsible for the related liabilities of trading and delivery.
If any member accepts the entrustment of purchase and sales from an investor and the transaction is completed, the investor shall
deliver the member with the securities it/he entrusts the member to sell out or the money by which it/he entrusts the member to buy
securities, and the member shall deliver the investor with the money gotten from the sales of securities or the securities as purchased.
3.1.2
A member shall send out declaration orders about purchase or sales to the exchange server of this Exchange by means of the offering
system, and complete the transaction in accordance with these Rules, and the trading records shall be sent to the member by this
Exchange.
3.1.3
The entrustment and declaration records shall be properly kept by a member in accordance with the related provisions.
3.1.4
Any investor shall not sell the securities purchased before the delivery thereof, except that a turnaround transaction is effected.
The “securities turnaround transaction” refers to that the securities purchased by an investor will be totally or partly sold out
before the delivery after the confirmation of the transaction.
3.1.5
Same-day turnaround transactions will be carried out for the bonds and T-bond repurchase, and the next-trading-day turnaround transactions
will be carried out for B-shares.
3.1.6
This Exchange may carry out the system of primary dealers in accordance with the demands of the market, and the concrete measures
therefor shall be respectively prescribed by this Exchange and shall go into effect after being reported to and approved by the CSRC.
Section 2 Entrustment
3.2.1
When an investor buys or sells the securities, a securities account and a capital account shall be opened, and an entrustment agreement
on securities transactions shall be signed with a member. After the agreement goes into effect, the investor will become the client
of brokerage business of this member.
The opening of securities accounts by investors shall be conducted in accordance with the provisions of the registration and clearing
institutions designated by this Exchange.
3.2.2
A client may entrust a member to buy or sell the securities by means of the self-help entrustment methods such as letters, phone
calls, self-help terminals, and internet.
The entrustment by phone calls, self-help terminals, Internet and other self-help methods shall be conducted in accordance with the
related provisions.
3.2.3
For a client taking part in the purchase or sales of securities by any self-help entrustment method, the member shall sign a self-help
entrustment agreement with the client.
3.2.4
Except otherwise herein provided for by this Exchange, an entrustment instruction of any client shall consist of:
(1)
The number of the securities account;
(2)
The code of the securities;
(3)
The direction of the deal;
(4)
The entrusted quantity;
(5)
The entrusted price; and
(6)
Other contents required by this Exchange and the member.
3.2.5
A client may entrust a member to buy or sell the securities by means of limit order or market order.
The “limit order” means that a member is entrusted by the client to buy or sell the securities at the prescribed price, and the member
shall give declaration for purchasing the securities at the prescribed price or at a lower price and give declaration for selling
the securities at the prescribed price or at a higher price.
The “market order” means that a member is entrusted by the client to buy or sell the securities at the market price.
3.2.6
The uncompleted transaction as entrusted may be cancelled by a client.
3.2.7
As to the entrustment cancelled or invalidated, after making confirmation, the related capital or securities shall be returned timely
to the client by a member.
3.2.8
A member who provides the securities financing services through the securities sales for its clients shall be in accordance with
the related provisions.
Section 3 Declaration
3.3.1
This Exchange will accept the declarations of competitive bidding by the members at 95 to 110 and 130 to 150every trading
day.
At 90 to 95 and 147 to 150 every trading day, the exchange server of this Exchange will not accept the declarations for
the cancellation of competitive bidding, and the uncompleted transactions can be declared for cancellation at any other time for
accepting declarations. And a declaration for cancellation will not become valid without confirmation of the exchange server in this
Exchange.
At 95 to 90 every trading day, the exchange server only accepts the declarations, but will not deal with the sales declarations
or declarations for cancellation.
This Exchange can make modulation on the time for accepting the declarations of the members.
3.3.2
A member shall make declarations to this Exchange in time in accordance with the chronological order by which it accepts the entrustments
of its clients.
3.3.3
This Exchange will accept the declaration of the limit orders and market orders of the members.
3.3.4
In accordance with the demands of the market, this Exchange may accept the market orders of the types as follows:
(1)
The declaration through the best price of the counterpart;
(2)
The declaration through the best price of this side;
(3)
The declaration through the conclusion of transactions at the best five prices and in real time and the cancellation of remaining
orders;
(4)
The declaration through the conclusion of transactions in real time and the cancellation of remaining orders;
(5)
The declaration through the conclusion of transactions in full amount or the cancellation of orders; and
(6)
Other types formulated by this Exchange.
As to a declaration through the best price of the counterpart, the best price of the counterpart listed in the book of centralized
orders when the declaration enters into the exchange server shall be the price for declaration.
A declaration through the best price of this side means that the best price of this side listed in the book of centralized orders
as the declaration entering into the exchange server shall be the price for declaration.
As to a declaration through the conclusion of transactions at the best five prices and in real time and the cancellation of remaining
orders, the price of the counterpart shall be the transaction price, the transactions shall be completed in turn in accordance with
the declaration queue of the best five prices of the counterpart in the book of centralized orders as the declaration entering into
the exchange server, as well as the part of uncompleted transactions shall be automatically cancelled.
As to a declaration through the conclusion of transactions in real time and the cancellation of orders, the price of the counterpart
shall be the transaction price, the transactions shall be completed in turn in accordance with the queue of all the declarations
of the counterpart in the book of centralized orders as the declaration entering into the exchange server, as well as the part of
uncompleted transactions shall be automatically cancelled.
As to a declaration through the conclusion of transactions in full amount or the cancellation of orders, the price of the counterpart
shall be the transaction price, if the transactions can be completed in turn in accordance with the queue of all the declarations
of the counterpart in the book of centralized orders as the declaration entering into the exchange server, the transactions shall
be completed in turn, or all the declarations shall be automatically cancelled.
3.3.5
The market orders shall only apply to the transactions of the securities with the price limit during the course of continuous auction.
During other trading hours, the exchange server will not accept the market orders.
3.3.6
When a declaration by the best price of this side entering into the exchange server, if there is no declaration of this side in the
book of centralized orders, the aforesaid declaration shall be automatically cancelled.
Where any other declaration by the market order entering into the exchange server, if there is no declaration of the counterpart in
the book of centralized orders, the aforesaid declaration shall be automatically cancelled.
3.3.7
A limit order shall consist of the number of the securities account, the code of the securities, the code of the seat, the direction
of the deal, as well as the quantity and price, etc.
A market order shall consist of the type of the declaration, the number of the securities account, the code of the securities, the
code of the seat, the direction of the deal as well as the quantity, etc.
A declaration order shall be transferred in the form prescribed by this Exchange.
3.3.8
As to the purchase of stocks or funds by means of competitive bidding, the declared quantity shall be 100 shares (units) or the integral
number of times of 100 shares (units).
If selling the stocks or funds, the sales of the part less than 100 shares (units) shall be declared once and for all.
3.3.9
The purchase of bonds by means of competitive bidding shall be declared by 10 sheets or the integral number of times of 10 sheets.
And the purchase or sales of pledge-type repurchase of bonds shall be made declaration by 10 sheets or the integral number of times
of 10 sheets.
If selling the bonds, the sales of the part less than 10 sheets shall be made declaration once and for all.
The 100 Yuan of par value of bonds shall be one sheet, and the 100 Yuan of standard coupons of pledge-type repurchase of bonds shall
be one sheet.
3.3.10
The largest amount in a single declaration of competitive stock (fund) transactions shall less than one million shares (units), and
the largest amount in a single declaration of competitive transactions of bonds or pledge-type repurchase of bonds shall less than
100,000 sheets.
3.3.11
Different units of account shall be employed for the trading of different securities: the “price per share” for the stocks, the “price
per unit of funds” for the funds, the “price per 100 Yuan of par value of bonds” for the bonds, and the “due annual proceeds per
100 Yuan of capital” for the pledge-type repurchase of bonds.
3.3.12
The minimum price variance unit for the transaction of A-shares, bonds or pledge-type repurchase of bonds shall be 0.01 Yuan, and
0.001 Yuan for the transactions of funds, 0.01 HK Dollars for the transactions of B-shares.
3.3.13
In accordance with the demands of the market, this Exchange may modulate the minimum price variance unit of the declared quantity
and price of a single declaration of securities transaction.
3.3.14
This Exchange carries out the price limit to the transactions of stocks and funds, and the fluctuating proportion shall be 10%, and
the fluctuating proportion of ST or *ST shares shall be 5%.
The formula used for the fluctuating price shall be as follows: Fluctuating Price = Previous Closing Price (1luctuating Proportion).
The calculation result shall be the minimum price variance unit in accordance with the principle of rounding (to the nearest whole
number).
If it meets any of the following circumstances, the price limit shall not be carried out on the first listing day of stocks:
(1)
The initial public offering;
(2)
The listed issuance of additional shares;
(3)
The resumption of trading after the suspending of trading; or
(4)
Other circumstances recognized by this Exchange or the CSRC.
As approved by the CSRC, this Exchange may modulate the fluctuating proportion of the securities.
3.3.15
When buying or selling the securities under the price limit, the declaration under the price limit shall be valid, otherwise, it
shall be declared to be invalid.
When buying or selling the shares of middle and small enterprise board (SME Board) under the price limit, the valid declarations beyond
the scope of valid auction during the period of continuous auction can not take part in the auction in real time and shall be temporarily
deposited in the exchange server; and when the transaction price is fluctuated into the scope of valid auction, the exchange server
will automatically take out the declarations for auction.
3.3.16
When buying or selling the securities without the price limit, the declarations beyond the scope of valid auction can not take part
in the auction in real time and shall be temporarily deposited in the exchange server; and when the transaction price is fluctuated
into the scope of valid auction, the exchange server will automatically take out the declarations for auction.
3.3.17
A declaration shall be valid on the current day. If each competitive transaction declared can not be completed once and for all,
the uncompleted part may continuously take part in the auction on the current day, other than the market orders prescribed in Item
(3), (4) and (5) of Article 3 .3.4.
Section 4 Auctions
3.4.1
The ways of aggregate auction and continuous auction shall be employed for the competitive securities transactions.
The “aggregate auction” refers to such a competitive method that the sales declarations accepted during a certain period shall be
collectively matched once and for all.
The “continuous auction” refers to such a competitive method that the sales declarations shall be continuously matched item by item.
3.4.2
The sales declarations that are not completed during the period for the aggregate auction of opening quotation shall automatically
enter into the continuous auction.
The sales declarations that are not completed during the period of continuous auction shall automatically enter into the aggregate
auction of closing quotation.
3.4.3
The scope of valid auction of the securities under the price limit during the period of aggregate auction shall be in line with the
scope of price limit.
The scope of valid auction of the stocks in the SME Board during the period of continuous auction shall be up and down 3% of the latest
transaction price. If the stocks are not transacted during the period for the aggregate auction of opening quotation, the scope of
valid auction shall be modulated to up and down 3% of the previous closing price when the continuous auction begins. The scope of
valid auction of other securities under the price limit during the period of continuous auction shall be in line with the scope of
price limit.
The calculation result for the scope of valid auction shall be the minimum price variance unit in accordance with the principle of
rounding (to the nearest whole number).
3.4.4
The scope of valid auction for the transactions of the securities without the price limit shall be made determination in accordance
with the methods as follows:
(1)
The scope of valid auction for the aggregate auction of opening quotation on the first listing day of stocks shall be less than 900%
of the offering price, and the scope of valid auction for the continuous auction and the aggregate auction of closing quotation shall
be up and down 10% of the latest transaction price;
(2)
The scope of valid auction for the aggregate auction of opening quotation on the first listing day of bonds shall be 30% or so of
the offering price, and the scope of valid auction for the continuous auction and the aggregate auction of closing quotation shall
be 10% or so of the last transaction price; and the scope of valid auction for the aggregate auction of opening quotation on the
non-first listing day of bonds shall be 10% or so of the previous closing price, and the scope of valid auction for the continuous
auction and the aggregate auction of closing quotation shall be 10% or so of the last transaction price; and
(3)
The scope of valid auction for the aggregate auction of opening quotation on the non-first listing day of the pledge-type repurchase
of bonds shall be 100% or so of the previous closing price, and the scope of valid auction for the continuous auction and the aggregate
auction of closing quotation shall be 100% or so of the latest transaction price.
3.4.5
If the securities without the price limit are not transacted during the period of aggregate auction of opening quotation, the scope
of valid auction thereof may be modulated in accordance with the methods as follows when the continuous auction starts:
(1)
If the highest buying price declared under the scope of valid auction is higher than the offering price or the previous closing price,
the scope of valid auction shall be modulated by taking the highest buying price declared as the benchmark; and
(2)
If the lowest selling price declared under the scope of valid auction is lower than the offering price or the previous closing price,
the scope of valid auction shall be modulated by taking the lowest selling price declared as the benchmark.
3.4.6
This Exchange may modulate the scope of valid auction of the securities in accordance with the demands of the market.
Section 5 Conclusion of Transactions
3.5.1
The securities competitive bidding shall be matched by complying with the principle of price and time priority.
The principle of price priority at the time of transaction conclusion shall be: the declaration for the purchase at a higher price
shall take precedence over the declaration for the purchase at a lower price, and the declaration for the sales at a lower price
shall take precedence over the declaration for the sales at a higher price.
The principle of time priority at the time of transaction conclusion shall be: the former declarer shall have priority to the later
declarer if the direction of the deal and the price are the same. The sequence of declarations shall follow the time when the exchange
server accepts the declarations.
3.5.2
As to aggregate auction, the principle for determination of the transaction price shall be as follows:
(1)
The price at which the maximum trading volume can be realized;
(2)
The declarations for the purchase at the price higher than the aforesaid price and the declarations for the sales at the price lower
than the aforesaid price shall all be transacted; and
(3)
All the transactions of either the buyer or the seller with the price in line with the aforesaid one shall be completed.
In case there are two or more aforesaid prices meeting the conditions mentioned above, the transaction price shall be the price closest
to the previous closing price.
All the transactions under aggregate auction shall be completed at the same price.
3.5.3
As to continuous auction, the principle for determination of the transaction price shall be as follows:
(1)
If the highest price upon declaration for the purchase is the same as the lowest price upon declaration for the sales, the aforesaid
price shall be the transaction price;
(2)
If the price upon declaration for the purchase is higher than the lowest price upon declaration for the sales in the book of centralized
auctions, the lowest price upon declaration for the sales in the book of centralized auctions shall be the transaction price; and
(3)
If the price upon declaration for the sales is lower than the highest price upon declaration for the purchase in the book of centralized
auctions, the highest price upon declaration for the purchase in the book of centralized auctions shall be the transaction price.
3.5.4
After the sales declarations are matched by the exchange server, the transactions are completed. A transaction goes into effect when
the transaction is completed in accordance with the provisions in these Rules, and both parties to the transaction shall accept the
trading result and undertake the obligation of liquidation and delivery.
In case a transaction is seriously influenced by the force majeure, accident or illegal invasion into the trading system, this Exchange
may employ proper measures or make sure the transaction as invalid.
As confirmed by this Exchange, proper measures may be employed for the clearly unfair transactions.
For the transactions that are against these Rules and will seriously destroy the normal operation of the securities market, this Exchange
has the right to make announcement on the cancellation of the transactions. And the losses that happened therefrom shall be undertaken
by the traders in violation of the rules.
3.5.5
For the transactions completed in accordance with these Rules, the trading results shall be determined based on the trading data
recorded in the exchange server of this Exchange.
3.5.6
The liquidation and delivery between the members shall be dealt with by the registration and clearing institution designated by this
Exchange.
Section 6 Block Trades
3.6.1
The method of block trades may be employed for the securities sales implemented in this Exchange and satisfying the conditions as
follows:
(1)
The quantity of A-shares in a single transaction thereof is more than 500,000 shares, or the trading amount is more than 3 million
Yuan;
(2)
The quantity of B-shares in a single transaction thereof is more than 50,000 shares, or the trading amount is more than 300,000 HK
Dollars;
(3)
The quantity of funds in a single transaction thereof is more than 3 million shares, or the trading amount is more than 3 million
Yuan;
(4)
The quantity of bonds in a single transaction thereof is more than 10,000 sheets (100 Yuan of par value for one sheet), or the trading
amount is more than 1 million Yuan;
(5)
The quantity of bonds in a single transaction of pledge-type repurchase of bonds is more than 10,000 sheets (100 Yuan of par value
for one sheet), or the trading amount is more than 1 million Yuan;
(6)
The trading amount in the aggregate one-way purchase or sales of several A-shares is more than 5 million Yuan, and of which the trading
amount of each single A-share is more than 200,000 shares;
(7)
The trading amount in the aggregate one-way purchase or sales of several funds is more than 5 million Yuan, and of which the trading
amount of each single fund is more than 1million shares; and
(8)
The trading amount in the aggregate one-way purchase or sales of several bonds is more than 5 million Yuan, and of which the trading
amount of eah single bond is more than 15,000 sheets.
In accordance with the demands in the market, this Exchange may modulate the minimum quota of block trades.
3.6.2
This Exchange will make acceptance of the declarations for block trades at 95 to 110 and 130 to 15:30 every trading day.
3.6.3
The declarations for block trades shall consist of the declarations of intent and the declarations of transaction that has been completed.
A declaration of intent for block trades shall consist of the number of the securities account, the code of the securities, the direction
of the deal, the number of seat of this side as well as other contents. Whether the price and quantity of the transaction are to
be made sure in the declaration of intent shall be determined by the declarer.
A declaration of transaction that has been completed shall consist of the number of the securities account, the code of the securities,
the direction of the deal, the price and quantity of the transaction, the seat number of the counterpart as well as other contents.
3.6.4
The transaction price of the block trade of securities under the price limit shall be made determination by both parties to the transaction
under the scope of price limit on the current day.
The transaction price of the block trade of securities without the price limit shall be made determination through the consultation
of both parties to the transaction based on 30% or so of the previous closing price or between the highest and lowest prices of completed
transactions on the current day.
3.6.5
Both parties to the transaction shall, after signing an agreement, make declarations of transaction that has been completed to the
exchange server of this Exchange, and the transaction price of the declaration of transaction that has been completed shall agree
with the transaction quantity.
3.6.6
The exchange server will implement the transaction confirmation concerning the declarations of transactions that have been completed
made by both parties to the transactions from 150to 150 every trading day.
A declaration of transaction that has been completed shall not be changed or cancelled once it is made sure by this Exchange, and
both parties to the transaction shall accept the transaction result.
3.6.7
A member shall make sure that the participants in block trades actually own the securities or capital related to the declaration
of intent or the declaration of transaction that has been completed.
3.6.8
A block trade shall not be calculated into the calculation of real-time market information and indices of this Exchange, as well
as the trading volume shall be calculated into the current total securities trading volume after the block trade is closed.
3.6.9
As block trades is completed every trading day, this Exchange will promulgate the names of the securities, the trading volume, the
transaction price of block trades, and the name of the business department or seat of the member where both the buyer and the seller
make their transaction.
Section 7 Transactions of T-bond Repur
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Announcement No. 30, 2006 of the General Administration of Customs concerning the matters on the transfer of taxable motor vehicles
entered the territory of China by the permanent personnel
[2006] No. 30
May 29,2006
In order to regulate the supervision of the customs over the motor vehicles entering the territory of China by the permanent personnel
and take into consideration their reasonable needs, an announcement concerning the matters on the transfer of taxable motor vehicles
entering the territory of China by the permanent personnel is hereby made as follows:
1.
Any taxable motor vehicle entering the territory of China by permanent personnel shall be transferred and changed the name of the
owner in the register only one year after the vehicle register formalities have been gone through in the traffic administrative department
of the public security.
2.
In case the permanent personnel transfers any motor vehicle entering the territory of China and changes the name of the owner in
the register, a written application shall be sent to the competent customs house and the following documents shall be handed in for
examination:
(1)
The identity certificate;
(2)
The long-term residence permit;
(3)
The Driving Permit of Motor Vehicle for the motor vehicle entering the territory of China; and
(4)
The Archival Filing Certificate of the Customs of the People’s Republic of China on Permanent Offices of the permanent office where
the permanent personnel is located or the Registration Certificate of Entities Handling Customs Declaration by Themselves of the
foreign- invested enterprise in which the permanent personnel works.
3.
After examination and approval, the competent customs house shall issue a Certificate of Releasing from Supervision over Vehicles
under the Customs’ Supervision of the People’s Republic of China. According to the said Certificate, the permanent personnel shall
go through the formalities on transferring the motor vehicle and changing the name of the owner in the register of related motor
vehicle in the traffic administrative department of the public security.
The related provisions of the Measures of the Customs of the People’s Republic of China for Supervising the Entry and Exit of Articles
for Self-use of Non-resident Permanent Passengers (Order of the General Administration of Customs, No. 116) shall apply to other
requirements for the permanent personnel concerning self-use vehicles entering the territory of China.
This Announcement shall go into effect as of the date of being promulgated
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General Administration of Customs
2006-05-29
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Notification No.12, 2006 of Foreign Assistance Project Bid Board of the Ministry of Commerce
Tong Gao [2006] No.12
Foreign Assistance Project Bid Board of the Ministry of Commerce held the 12th regular meeting of 2006 on Jun 6, 2006. Relevant matters
and decisions are now announced as follows:
1.
The bid-winning enterprise of National Gymnasium Maintenance assistance project was examined and approved. The Bid Board opened sealed
tenders on May 29, 2006. In all, 15 enterprises including Liaoning International Techno-Economic Cooperation Co., Ltd., Weihai International
Economic & Technical Cooperative Co., Ltd., China Jiangsu International Economic Technical Cooperation Corp., China Jiangxi Corporation
For Economic and Technical Cooperation, Gansu Foreign Engineering Corporation, China Henan International Cooperation Group Co., Ltd.,
Jiangsu Construction Group Corp., China State Construction Engineering Corp., China Shandong Foreign Economic Technical Cooperation
Corp., Anhui Foreign Economic Construction Corporation (group) Co., Ltd., China Shanxi International Economic & Technical Cooperative
Co., Ltd, Hubei Construction Engineering Group Corporation, Ningbo Construction Group Co., Ltd., China Tianjian International Economic
and Technical Cooperative Corporation and China SFECO Group Co.,Ltd..submitted tender documents on time. The Bid Board, in accordance
with “the Measures for Tender Assessment of Undertaking Foreign Assistance Complete Plant Projects” which was revised in 2005 by
the Ministry of Commerce of the People’ Republic of China, for Trial Implementation and the principles of “competing with no minimum
bid ” and “biding with reasonable lower price “, determined to confer bid to China Jiangsu International Economic Technical Cooperation
Corporation after two steps of tender assessment with technical measures and integrated quantity measures.
2.
The bid-winning enterprise of Rwanda Ministry of Foreign Affairs Office Building assistance project was examined and proved. The
Bid Board opened sealed tenders on May 29,2006. In all, 18 enterprises including China Civil Engineering Construction Corporation,
Chongqing Foreign Construction Co., Ltd., Yanjian Group Co., Ltd., Anhui Foreign Economic Construction Corporation (group) Co.,
Ltd., Qingdao Construction Group Corporation, Beijing Construction Engineering Group Co., Ltd., Shanxi Construction Engineering (group)
Co., China National Overseas Engineering Corporation, Guangdong Xinguang International Group Co., Ltd., Guangdong Construction Engineering
Group Co., Ltd., Qilu Construction Group Corporation, China Jiangsu International Economic Technical Cooperation Corp., Fujian Construction
Engineering Group General Co., Jiangsu Construction Group Corp., Anhui Construction Engineering Group Co., Ltd., Zhengtai Group Co.,
Ltd., China Ershisanye Construction Group Co., Ltd. and Zhejiang Electric Power Construction Corp. submitted tender documents on
time. The Bid Board, in accordance with “the Measures for Tender Assessment of Undertaking Foreign Assistance Complete Plant Projects”
which was revised in 2005 by the Ministry of Commerce of the People’ Republic of China, for Trial Implementation and the principles
of “competing with no minimum bid ” and “biding with reasonable lower price “,, determined to confer bid to Beijing Construction
Engineering Group Co.Ltd. after two steps of tender review with technical measures and integrated quantity measures .
3.
The contract price of Pakistan medical team for disaster areas of earthquake assistance project was examined and approved.
4.
The tender mode of Mozambique National Gymnasium investigation and design assistance project was discussed. The Bid Board adopted
limited invitation tender mode, and 6 enterprises including Beijing Institution of Architectural Design, Wuhan Architectural Design
Institute, China IPPR Engineering Corporation, China Railway Engineering Consultants Group Co., Ltd., China International Engineering
Design & Consult Co., Ltd. and East China Investigation and Design Institute will be invited to participate in the bid.
Foreign Assistance Project Bid Board of the Ministry of Commerce
Jun 6, 2006
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