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MEASURES FOR THE SUPERVISION AND EXAMINATION OF THE GOVERNMENT’S PRICE COSTS

The National Development and Reform Commission

Decree of the National Development and Reform Commission

No.42

In accordance with the Price Law of the People’s Republic of China, the Interim Measures for the Examination of the Price Costs of
Major Goods and Services (Decree No.25 of the former State Planning Commission) have been revised, which were promulgated by the
former State Planning Commission, and on this basis, the Measures for the Supervision and Examination of the Government’s Price Costs
are specifically formulated, which were adopted through discussion at the office meeting of the directors of the National Development
and Reform Commission, are hereby promulgated, and shall enter into effect as of the day of March 1, 2006.

Director General Ma Kai

January 17, 2006

Measures for the Supervision and Examination of the Government’s Price Costs

Article 1

In accordance with the Price Law of the People’s Republic of China, these Measures are formulated in order to improve the scientific
decision-making to boost prices by the government of the competent price departments, and regulate the act of supervision and examination
on price costs.

Article 2

These Measures shall be in the same with the acts of the government of the competent price departments on the supervision and examination
of price costs in the course of formulating or adjusting and servicing the prices of the goods, which are subject to government-guided
prices or government-set prices (hereinafter referred to as the pricing).

Article 3

The “supervision and examination on price costs (hereinafter referred to as the cost supervision and examination)” as mentioned in
these Measures shall means to the acts of the government of the competent price department to verify the price costs on the basis
of investigating, measuring, and examining on the costs of the operators during the process of pricing. The pricing costs as mentioned
in these Measures shall mean the average social reasonable expenses of the operators of countrywide or within a certain range for
them producing or managing the same goods or providing the same kinds of services, which is the basis of pricing for the government.

Article 4

The cost investigation organs of the competent price departments of the people’s governments at various levels (hereinafter referred
to as the cost investigation organizations) shall take the charge of organizing the enforcement of the concrete work of cost supervision
and examination.

The cost investigation organizations of all levels shall take the charge of the concrete affairs of cost supervision and examination
within the competent price department at the same levels, or conduct cost supervision and examination on the relevant operators which
are entrusted by the competent price department of the higher level or are asked for by the competent price department of a lower
level.

Article 5

Catalogue management shall be applied to cost supervision and examination. Those goods and services, listed into the catalogue of
cost supervision and examination, shall be determined by the competent price department under the State Council and the competent
price department of the people’s governments of the provinces, autonomous regions, and municipalities directly under the Central
Government in accordance with central and local pricing catalogues, and they shall be formulated .

All the goods and services listed into the catalogue of price hearings and excluded the catalogue of price hearings but whereon hearings
are required shall be automatically listed into the catalogue of price supervision and examination .

When making prices on goods and services unlisted into the catalogue of cost examination, the government of the competent price department
may implement cost supervision and examination that is believed necessary.

Article 6

The justicial, scientific, normative, and efficient principle shall be followed in cost supervision and examination.

Article 7

The system of pre-pricing supervision and examination (hereinafter referred to as the examination on pricing and price adjustment)
and regular supervision and examination shall be combinative applied to cost supervision and examination.

The intervals of regular supervision of the different goods and services shall be determined by the government of the competent price
department in the catalogue of cost supervision and examination , and the intervals of regular examination shall be no less than
one year at the minimum.

Article 8

The supervision and examination on pricing and price adjustment as well as regular supervision and examination shall not be carried
out overlapped or repeatedly on the cost of the same kind of good or service of the same operator in a financial year.

Article 9

All goods or services listed in the catalogue of cost supervision and examination are not supervised on pricing and price adjustment
or regular supervision and examination, and a price shall not be set up by the government of the competent price department .

Article 10

All the operators that produce or manage the same kind of goods or provide the same kind of services shall be enforced cost supervision
and examination by a cost investigation organization. If the operators are in a large number, the cost investigation organization
may select a certain number of operators that have representative to implement cost supervision and examination.

Article 11

In accordance with the fact of the costs of different goods and services and the power of price management, the measures on the supervision
and examination of pricing costs of material goods and services shall be formulated by the competent price department of the State
Council and the competent price department of the people’s government of province, autonomous region, or municipality directly under
the Central Government. The measures on the supervision and examination of pricing costs of material goods and services shall be
covered the constituted items of the price costs of the relevant goods or services, verification methods and standards, and etc.
For the goods and services in the local pricing catalogue, the nationally uniform measures for the supervision of price costs may
be formulated by the competent price department of the State Council through coordination.

Article 12

Business accounting on the price costs shall be implemented according to the reasonable expenses, which the operators use in their
normal production and business operation acts. The expenses shall not be listed into the price cost as follows:

1.

Expenses, which does not keep tally with the provisions of the Accounting Law of the People’s Republic of China and the relevant laws,
administrative regulations, and financial accounting systems;

2.

Expenses, which has nothing to do with the acts of production and business operation of goods and services in the process of cost
supervision and examination;

3.

Expenses that does not keep tally with the provisions of the measures for the supervision and examination of price cost on relevant
goods and services; and

4.

Other unreasonable expenses which operators use in the process of production and business operations.

Article 13

The operator shall record and make business accounting on the cost of production and business operations of goods and services correctly,
and shall not resort to deceit.

The independent accounting shall be made on the goods and services, which are under the control of government guided prices or government-set
prices as well as the costs and incomes of the production and business operations of the relevant goods and services, which have
close relationship with them.

Article 14

The operator shall submit the cost documents of the relevant goods and services (hereinafter referred to as the cost documents) in
accordance with the request of the government of the competent price department for cost examination, and shall take the charge of
the authenticity and legitimacy of the cost documents that he provides. The cost documents shall include the contents as follows:

1.

The report forms of cost shall be filled according to the requirements of the government of the competent price department of and
the prescribed formats after business accounting.

2.

The annual financial report shall have been audited by registered accountants or the departments of taxation, the departments of audit
and other governmental departments. And

3.

Other documents correlating with the cost.

If the normal business operations have not been started, the feasibility study report examined and approved by the entity, which has
the power of examination and approval, and the report forms of cost measured and filled in the light of the requirements of the competent
price department and the prescribed format thereof, shall be provided.

Article 15

The preliminary examination on the cost documents, which are submitted by operators, shall be made by the cost investigation organization
. If the contents of the cost documents are not complete, the operators shall be required to make up the relevant documents.

Article 16

If the cost documents submitted by the operator have been passed the preliminary examination, according to Article 12 of these Measures,
the relevant measures for the supervision and examination of price costs of the goods or services and other relevant provisions,
the cost investigation organization shall, make examination on the costs of the operator. The operator shall be notified in a written
form in time by the cost investigation organization, which contents the opinions and reasons for increasing or cutting down the cost
to the operator. If the operator has different opinions on increasing or cutting down of the verified cost, opinions and reasons
may be brought forward in a written form to the cost investigation organization. After completing the cost examination work of the
individual operators, the cost investigation organization shall fill in the cost verification forms of the operators according to
the cost data finally verified.

Article 17

After completing the cost examination work for each project, the cost investigation organization shall make business accounting on
the price costs of all the operators supervised and examined in accordance with the cost verification forms, and a report on cost
examination shall be handed in to the competent price department. The report on cost supervision and examination shall be included
the contents as follows:

1.

Projects of cost supervision and examination;

2.

Basis for cost supervision and examination;

3.

Procedures for cost supervision and examination;

4.

Major contents of cost supervision and examination;

5.

Conditions of cost increase and decrease and the reasons thereof;

6.

Cost verification form;

7.

Price costs; and

8.

Other matters need to be specified.

The report of cost supervision and examination shall be signed and sealed by the personnel who has participated in the cost examination,
and shall be affixed with the official seal of the cost investigation organization or the special seal of the cost supervision and
examination.

Article 18

If the government of the competent price department breaks these Measures, and formulates the prices of the goods and services, which
are listed into the catalogue of cost supervision and examination without going through cost supervision and examination, the competent
price department in the higher level or the people’s government in the corresponding level shall order it to correct and if the circumstance
is serious, a notice of criticism shall be circulated. If the big impact has been made, the governor who is directly responsible
and other personnel directly liable shall be given a disciplinary sanction in accordance with law or submitted to the relevant department
for disciplinary sanction.

Article 19

If the staff member, who is taken the charge of the work of cost supervision and examination, has relationship of interest with the
operator, he or she shall evite when examining the cost of the operator. The cost investigation organization and the staff members
may not use the cost documents of the operators that they have obtained according to the law for any other purpose beyond cost supervision
and examination, and shall not disclose the business secrets of the operators.

Article 20

In their cost examination work, if the staff members who take the charge of the work of cost supervision and examination disclose
state secrets, or business secrets, or abuse their power, practice favoritism for selfish interests, neglect their duty, extort
or take bribes, and enough to constitute a crime, criminal responsibility shall be investigated in accordance with the law; if it
does not constitute a crime, a disciplinary sanction shall be given.

Article 21

If the operator breaks the provisions of Article 13 of these Measures or fails to hand in the cost documents as the provisions of
Article 14 of these Measures, the government of the competent price department shall order to correct in time, and a notice of criticism
shall be circulated. If an operator provides the cost documents less contents than those prescribed in Article 14 and can not submit
the supplement documents according to the requirements of the cost investigation organization, or provides false cost documents,
the cost investigation organization shall not provide cost supervision and examination or shall suspend the current cost supervision
and examination.

Article 22

The expenses for the cost supervision and examination may be applied to list into the financial budget of the corresponding level.

Article 23

When formulating the charge standards of the administrative organs of the state, the government of the competent price department
shall conduct cost supervision and examination according to these Measures.

Article 24

When other relevant departments formulate prices, these Measures shall be referred to as the cost supervision and examination are
made.

Article 25

The rules may be formulated by the governments of the competent price departments of the people’s governments of all the provinces,
autonomous regions, and municipalities directly under the Central Government according to these Measures.

Article 26

The National Development and Reform Commission have the right of interpreting these Measures.

Article 27

These Measures shall enter into effect as of the day of March 1, 2006, the Interim Measures for the Supervision and Examination on
the Price Costs of Major Goods and Services promulgated by the National Development and Planning Commission on November 1, 2002
shall be annulled therefore.



 
The National Development and Reform Commission
2006-01-17

 






ANNOUNCEMENT NO. 6, 2006 OF MINISTRY OF COMMERCE, GENERAL ADMINISTRATION OF CUSTOMS AND GENERAL ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE OF THE PRC

20060501

Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision, Inspection and Quarantine

Announcement No. 6, 2006 of Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision,
Inspection and Quarantine of the PRC

[2006] No. 6

In accordance with related regulation of Memorandum of Understanding on Textile and Costume Trade between Peoples￿￿ Republic of China
and the United States of America, Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision,
Inspection and Quarantine of the PRC adjusted the Temporary Commodity Catalogue of Textile Exports as follows:

Add the following commodity codes of Customs to Item 222: 6002901000, 6002903000, 6002904000, 6002909000, 6004901000, 6004903000,
6004904000, 6004909000, 6006310000, 6006320000, 6006330000, 6006340000, 6006410000, 6006420000, 6006430000, 6006440000

Add the following commodity codes of Customs to Item 229: 6003300000, 6003400000

This announcement shall take effect as of January 27, 2006.

Ministry of Commerce

General Administration of Customs

General Administration of Quality Supervision, Inspection and Quarantine of the PRC

January 25, 2006



 
Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision, Inspection
and Quarantine
2006-01-25

 






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LETTER OF CHINA BANKING REGULATORY COMMISSION CONCERNING APPROVING THE AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED TO SET UP GUANGZHOU REPRESENTATIVE OFFICE

Letter of China Banking Regulatory Commission concerning Approving the Australia and New Zealand Banking Group Limited to Set up Guangzhou
Representative Office

Australia and New Zealand Banking Group Limited,

The letter which was signed by John McFarlane, your chief executive officer, and was addressed to this Commission has been received.

According to the Measures for the Administration of Foreign-funded Financial Institutions’ Representative Offices in China (Order
No. 8 [2002] of the People’s Bank of China) (hereinafter referred to as these Measures), a representative office in Guangzhou are
hereby approved to set up, whose name in Chinese is “￿Ĵ￿Ǻ￿￿￿￿￿￿￿￿￿˾￿￿￿￿” and whose name in English is “Guangzhou
Representative Office of Australia and New Zealand Banking Group Limited”.

According to the related provisions of these Measures, upon approval, Christopher Bryan Lefebvre is granted to take the position of
the chief representative of this Representative Office.

China Banking Regulatory Commission

February 14, 2006



 
China Banking Regulatory Commission
2006-02-14

 






ACCOUNTING STANDARDS FOR ENTERPRISES NO. 18 – INCOME TAXES

the Ministry of Finance

Accounting Standards for Enterprises No. 18 – Income Taxes

Cai Kuai [2006] No. 3

February 15, 2006

Chapter I General Provisions

Article 1

With a view to regulating the recognition and measurement of enterprise income taxes and the presentation of relevant information,
the present Standards are formulated according to the Accounting Standards for Enterprises – Basic Standards.

Article 2

The “income taxes” as mentioned in the present Standards shall include all types of domestic and oversea tax amounts based on the
amounts of taxable income of enterprises.

Article 3

The present Standards shall not cover the recognition and measurement of government subsidies. But the temporary difference of income
tax arising from government subsidies shall be recognized and measured according to the present Standard.

Chapter II Tax Base

Article 4

Where an enterprise obtains assets or liabilities, it shall determine its tax base. Where there is difference between the carrying
amount of the assets or liabilities and its tax base, the deferred income tax assets or the deferred income tax liabilities shall
be determined according to the present Standards.

Article 5

The “tax base of an asset” shall refer to the amount which may be deducted from the taxable benefits when the amount of taxable income
is calculated according to the tax law provisions during the course of the enterprise’ recovering the carrying amount of the asset.

Article 6

The “tax base of an liability” shall refer to the carrying amount of a liability minus the amount that can be deducted according to
the tax law when the amount of taxable income is calculated in the future period.

Chapter III Temporary Difference

Article 7

The “temporary difference” shall refer to the difference between the carrying amount of an asset or liability and its tax base. As
for an item that has not been recognized as an asset or liability, if its tax base can be determined in light of the tax law, the
difference between the tax base and its carrying amount shall also be a temporary difference.

Pursuant to the effect of temporary differences on taxable amounts during future periods, they can be classified into taxable temporary
differences and deductible temporary differences.

Article 8

The term “taxable temporary difference” shall refer to temporary differences that will result in taxable amounts in the future when
the carrying amount of the asset is recovered or the liability is settled.

Article 9

The term “deductible temporary difference” shall refer to temporary differences that will result in amounts that are deductible in
the future when the carrying amount of the asset is recovered or the liability is settled.

Chapter IV Recognition

Article 10

An enterprise shall recognize the accrued income tax of the current period and prior periods as a liability, and shall recognize the
part of the income tax already paid minus the payable amount as an asset.

Where there is any taxable temporary difference or deductible temporary difference, it shall be recognized as a deferred income tax
liability or deferred income tax asset according to the present Standards.

Article 11

Except for the deferred income tax liabilities arising from the following transactions, an enterprise shall recognize the deferred
income tax liabilities arising from all taxable temporary differences:

(1)

the initial recognition of business reputation;

(2)

the initial recognition of assets or liabilities arising from the following transactions which are simultaneously featured by the
following:

(a) The transaction is not business combination;

(b) At the time of transaction, the accounting profits will not be affected, nor will the taxable amount (or the deductible loss)
be affected.

The deferred income tax liabilities arising from the taxable temporary differences related to the investments of subsidiary companies,
associated enterprises and contractual enterprises shall be recognized according to Article 12 of the present Standard.

Article 12

The taxable temporary differences related to the investments of subsidiary companies, associated enterprises and joint enterprises
shall recognize corresponding deferred income tax liabilities. However, those that can simultaneously meet the following conditions
shall be excluded:

(1)

The investing enterprise can control the time of the reverse of temporary differences; and

(2)

The temporary differences are unlikely to be reversed in the excepted future.

Article 13

An enterprise shall recognize the deferred income tax liabilities arising from a deductible temporary difference to the extent of
the amount of the taxable income which it is most likely to obtain and which can be deducted from the deductible temporary difference.
However, the deferred income tax assets, which are arising from the initial recognition of assets or liabilities during a transaction
which is simultaneously featured by the following, shall not be recognized:

(1)

This transaction is not business combination; and

(2)

At the time of transaction, the accounting profits will not be affected, nor will the taxable amount (or the deductible loss) be affected.

On the balance sheet date, where there is any exact evidence showing that it is likely to acquire sufficient amount of taxable income
tax in a future period to offset against the deductible temporary difference, the deferred income tax assets unrecognized in prior
periods shall be recognized.

Article 14

Where the deductible temporary difference related to the investments of the subsidiary companies, associated enterprises and joint
enterprises can meet the following requirements simultaneously, the enterprise shall recognize the corresponding deferred income
tax assets:

(1)

The temporary differences are likely to be reversed in the expected future; and

(2)

It is likely to acquire any amount of taxable income tax that may be used for making up the deductible temporary differences.

Article 15

As for any deductible loss or tax deduction that can be carried forward to the next year, the corresponding deferred income tax assets
shall be determined to the extent that the amount of future taxable income to be offset by the deductible loss or tax deduction to
be likely obtained.

Chapter V Measurement

Article 16

On the balance sheet day, the current income tax liabilities (or assets) incurred in the current period or prior periods shall be
measured in light of the expected payable (refundable) amount of income taxes according to the tax law.

Article 17

On the balance sheet day, the deferred income tax assets and deferred income tax liabilities shall be measured at the tax rate applicable
to the period during which the assets are expected to be recovered or the liabilities are expected to be settled.

In case the applicable tax rate changes, the deferred income tax assets and deferred income tax liabilities which have been recognized
shall be re-measured, excluding the deferred income tax assets and deferred income tax liabilities arising from any transaction or
event directly recognized as the owners’ rights and interests, and the amount affected by them shall be recorded into the income
tax expenses of the current period during which the change occurs.

Article 18

The measurement of deferred income tax assets and deferred income tax liabilities shall reflect the effect of the expected asset recovery
or liability settlement method on the balance sheet day on the income taxes, i.e. the tax rate and tax base, which is adopted at
the time of measurement of the deferred income tax assets and deferred income tax liabilities and shall be identical with those of
expected asset recovery or liability settlement method.

Article 19

An enterprise shall not discount any deferred income tax asset or deferred income tax liability.

Article 20

The carrying amount of deferred income tax assets shall be reexamined on balance sheet day. If it is unlikely to obtain sufficient
taxable income taxes to offset the benefit of the deferred income tax assets, the carrying amount of the deferred income tax assets
shall be written down.

When it is probable to obtain sufficient taxable income taxes, such write-down amount shall be subsequently reversed.

Article 21

The income taxes of the current period and deferred income tax of an enterprise shall be treated as income tax expenses or incomes,
and shall be recorded into the current profits and losses, excluding the income taxes incurred under the following circumstances:

(1)

the business combination; and

(2)

the transactions or events directly recognized as the owner’s rights and interests.

Article 22

The income taxes of the current period and deferred income tax related to the transactions or events directly recorded in the owner’s
rights and interests shall be recorded into the owner’s rights and interests.

Chapter VI Presentation

Article 23

The deferred income tax assets and deferred income tax liabilities shall be respectively presented as the non-current assets and non-current
liabilities in the balance sheet.

Article 24

The income tax expenses shall be presented separately in the profit statement.

Article 25

An enterprise shall, in its notes, disclose the following information related to the income taxes:

(1)

the main constituent parts of the income tax expenses (incomes);

(2)

a statement of the relationship between the income tax expenses (incomes) and the accounting profits;

(3)

the amounts of deductible temporary difference or deductible loss of unrecognized deferred income tax assets (if there is a date due,
it shall disclose the date due);

(4)

every category of temporary difference and deductible loss, the amount of the deferred income tax assets or deferred income tax liabilities
which are recognized during the presentation period, and the basis for the recognition of the deferred income tax assets; and

(5)

as for any deferred income tax liabilities which have not been recognized, the amounts of temporary differences related to the investments
of the subsidiary companies, associated enterprises and joint enterprise.



 
the Ministry of Finance
2006-02-15

 






ACCOUNTING STANDARDS FOR ENTERPRISES NO. 32 – INTERIM FINANCIAL REPORT

Ministry of Finance

Accounting Standards for Enterprises No. 32 – Interim Financial Report

Cai Kuai [2006] No. 3

February 15, 2006

Chapter I General Provisions

Article 1

These Standards are formulated in accordance with the Accounting Standards for Enterprises – Basic Standards for the purpose of regulating
the contents of interim financial reports, and the principles of recognition and measurement to be followed when working out the
interim financial reports.

Article 2

An interim financial report refers to a financial report worked out on the basis of an interim period.

An interim period refers to a reporting term which is shorter than a full fiscal year.

Chapter II Contents of Interim Financial Reports

Article 3

An interim financial report shall at least include a balance sheet, an profit statement, a cash flow statement and explanatory notes.

The balance sheet, profit statement and cash flow statement included in an interim financial report shall be presented in their complete
forms. Their format and contents shall be consistent with the annual accounting statements of the prior fiscal year. .

If the format and content of the financial statements have been changed due to the adoption of new accounting standards for the current
year, the interim financial statements shall be worked out according to the amended format and content. In addition, the format and
content of comparative financial statements for the prior fiscal year shall also be adjusted accordingly.

The basic earnings per share and the diluted earnings per share shall be separately presented in the interim profit statement.

Article 4

Where consolidated financial statements were worked out for the prior year, consolidated financial statements shall be worked out
by the end of the interim period.

If a financial report for the prior year includes financial statements of the parent company besides the consolidated financial statements,
the interim financial report shall include the financial statements of the parent company as well.

If a financial report for the prior year includes consolidated financial statements, but if all subsidiaries which were included in
the consolidation scope were disposed during the period of interim reporting, the interim financial report shall be only required
to provide the financial statements of the parent company, but the comparative financial statements for the prior year shall still
include the consolidated financial statements unless there is no subsidiary in the comparative interim period of the prior year.

Article 5

An interim financial report shall, according to the following provision, provide the comparative financial statements :

(1)

The balance sheet statement at the end of the current interim period and the balance sheet statement at the end of the prior year;

(2)

The profit statement for the current interim period, the profit statement for the period from the beginning of the year to the end
of the current nterim period, as well as the profit statement of the comparative period of the prior year; and

(3)

The cash flow statement for the period from the beginning of the year to the end of the current interim period, and the cash flow
statement for the period from the beginning of the prior year to the end of the comparative current interim period.

Article 6

Where any adjustment or revision is made to the items of the financial statements in an interim report, the relevant amounts of the
items in the comparative financial statements for the prior year shall be re-classified according to the requirements of the interim
financial statements for the current year, and the reasons and contents of the reclassification shall be explained in the notes.
If the reclassification is impracticable, the reasons shall be given in the notes.

Article 7

The notes in an interim financial report shall be worked out based on the period from the beginning of the year to the end of the
current interim, and shall disclose any significant events or transactions, which occurred after the balance sheet date of the prior
year and which may be helpful to the understanding of financial status, operating performance and cash flows changes of the enterprise.

The enterprise shall, in its notes, disclose any significant events or transactions, which may be helpful to the understanding of
its financial status, operating performances and cash flows during the current interim period.

Article 8

The notes in an interim financial report shall at least include the following information:

(1)

A declaration that the accounting policies adopted for the interim financial statements are consistent with those for the financial
statements of the prior year.

If the accounting policy altered, the nature, details, reasons and effect of the change of the accounting policy shall be explained
. If it is unable to make a retrospective adjustment, the reasons shall be explained.

(2)

The details, reasons and effect of alteration of accounting estimates, or if the effect cannot be determined, the reason shall be
explained;

(3)

The nature of any prior period error and the amount of correction; if the retrospective restatement is impractical, the reasons shall
be explained;

(4)

The seasonal or periodicity features of the enterprise’s operations;

(5)

The details of changes in affiliated enterprises where a control relationship exists. Where there are related party transactions,
the nature of the affiliated party relationship, the types of transactions and the essential elements of the transactions shall be
disclosed;

(6)

The details of changes in the consolidation scope for the consolidated financial statements;

(7)

The explanatory comments about the financial statement items that are abnormal in terms of their nature or amounts;

(8)

The details of issuance, repurchase, and repayment of securities;

(9)

The details of any distribution of profits to the enterprise’s owners, including profits distributed and distribution proposed or
approved but not yet made in the interim period;

(10)

If any segment reporting information is required to be disclosed under the Accounting Standards for Enterprises, the segment revenue
and segment profit (loss) under primary segment reporting shall be disclosed;

(11)

The non-adjusting events occurring during the period from interim balance sheet date to the date on which the interim financial report
is authorized for issuance;

(12)

The details of any changes in contingent liabilities and contingent assets after the prior year’s balance sheet date;

(13)

A description of any changes in the composition of the enterprise such as business combination, acquisition or disposal of long-term
investments for which the enterprise can exercise significant influence, has joint control or control over the investees, or termination
of business operations; and

(14)

Other significant transactions or events such as transfer and sale of significant long-term assets, significant acquisitions of fixed
assets and intangible assets, significant research and development disbursements, significant assets impairment losses, etc.

When an enterprise provides information about the affiliated party transactions, and segment revenue and segment profit (loss) as
mentioned in the preceding items (5) and (10), it shall simultaneously provide the figures of the current interim period (or the
end of the current interim period), the figures during the period from the beginning of the current year to the end of the current
interim period, the comparative figures of the comparative current period of the prior year (or the end of the comparative period),
and comparative figures during the period from the beginning of the comparative year to the end of the current interim period.

Article 9

In the recognition, measurement and reporting the each line item on the interim financial statements, the enterprise shall base its
judgment about the importance of each line item on the interim financial figure other than on the annual financial figure. As compared
with annual financial figures, the interim accounting measurement may rely on the estimates to a greater extent, however, the enterprise
shall ensure that the interim financial report it provides includes the relevant important information.

Article 10

During the same fiscal year, if an estimate amount reported in an prior interim financial report is changed significantly during the
final interim period but a separate financial report is not published for that final interim period by enterprise, the details, reasons,
and effect amount of that alteration of estimate should be disclosed in the notes of the annual financial statements. .

Chapter III Recognition and Measurement

Article 11

The accounting policies adopted by an enterprise for its interim financial statements shall be consistent with those as adopted for
its annual financial statements.

If any accounting policy alters after the balance sheet date of prior year and if the accounting policy after alteration will be adopted
for the annual financial statements, the accounting policy after alteration shall be adopted for the interim financial statements
and shall be treated according to the provision of Article 14 of these Standards.

Article 12

The interim accounting measurement shall be based on the period from the beginning of the year to the end of the current interim period.
The frequency of the financial reports shall not affect the measurement of the annual results.

Within a same accounting year, if the accounting estimate for an accounting statement item reported in a prior interim period alters
in the subsequent interim period, such amount after accounting estimate alteration should be reflected in the subsequent interim
accounting statements, but the amount of the item as reported in the prior interim period should not be adjusted. In the mean while,
the alteration of the accounting estimate shall also be disclosed in the notes according to provisions of Article (2) or Article
10 of these Standards.

Article 13

An enterprise should recognize and measure revenues that are received seasonally, cyclically or occasionally when they are occurred
and shall not anticipate or defer such revenues in interim accounting statements unless anticipation or deferral were permitted at
the end of the accounting year.

An enterprise shall recognize and measure costs that are incurred unevenly during an accounting year when they are incurred and shall
not anticipate or defer such costs in the interim accounting statements unless the anticipation or deferral would be acceptable at
the end of the fiscal year.

Article 14

If there is any alteration in an accounting policy during the interim period for an enterprise, it shall be treated according to the
Accounting Standards for Enterprises No. 28 – Changes in Accounting Policies and Accounting Estimates, and Corrections of Errors
and shall be disclosed accordingly in the notes pursuant to the provision of Article 8 (1) of these Standards.

If the cumulative effect of a change in accounting policy can be reasonably determined and if the change in accounting policy affects
the figures of any line items on the interim financial statements for the prior interim period in the current fiscal year, these
items shall be adjusted retrospectively as if the same accounting policy has been adopted throughout the whole fiscal year. In the
mean while, the comparative financial statements of the prior year shall also be adjusted accordingly.



 
Ministry of Finance
2006-02-15

 






MEASURES FOR ADMINISTRATION OF E-MAIL SERVICE ON INTERNET

Ministry of Information Industry

Decree No.38 of the Ministry of Information Industry of the People’s Republic of China

No.38

Measures for Administration of E-mail Service on Internet have been adopted at the fifteenth Ministerial Conference of the Ministry
of Information Industry on November 7, 2005, and are hereby published and come into effect on March 30, 2006.

Minister, Wang Xudong

February 20, 2006

Measures for Administration of E-mail Service on Internet

Article 1

These Measures are formulated in accordance with the provisions of Telecommunication Regulations of the People’s Republic of China
and Measures for Administration of Internet Information Service and relative laws and administrative laws and regulations for the
purposes of regulating E-mail service on internet, safeguarding the legitimate rights of the users of E-mail service on internet.

Article 2

These Measures apply to providing E-mail service on internet, and providing access service and sending Internet E-mail for E-mail
service on internet in the territory of the People’s Republic of China.

E-mail service on internet in terms of these Measures means the activity to establish servers of Internet E-mail and provide conditions
for internet users to send and receive E-mail on internet.

Article 3

the communication secret of the citizens to use E-mail service on internet shall be under the protection of law. No organization or
individual shall violate citizens’ communication secret with any reasons except that when the public security agency or procuratorial
organ checks up the content of the communication for the needs of national safety or finding out criminal offence according to the
procedures prescribed by law.

Article 4

Providing E-mail service on internet should obtain business license for value added telecommunication service or go through record
formalities for non-operational information service on internet according to law.

No organization or individual should be engaged in E-mail service on internet in the territory of the People’s Republic of China before
obtaining business license for value added telecommunication business or going through record formality for non business information
service on internet.

Article 5

The providers for internet access service and other providers for telecommunication service shall not provide internet access service
for any organizations or individuals that have not obtained business license for value added telecommunication business or have not
gone through the record formality for non-operational internet information service to carry out E-mail service on internet.

Article 6

The state shall register the IP address of E-mail server of the provider for E-mail service on internet for administration. The provider
for E-mail service on internet shall register the IP address used for E-mail server on internet in the Ministry of Information Industry
of the People’s Republic of China (MII) or Telecommunication Administration of the provinces, autonomous regions or municipalities
directly under the Central Government (TA) 20 days before an E-mail server is opened.

The provider for E-mail service on internet shall, if planning to change the IP address of Internet E-mail, go through change formality
30 days in advance.

Article 7

The provider for E-mail service on internet shall, according to the technical standard laid down by the Ministry of Information Industry,
establish the system of E-mail service on internet, close anonymous transmissive function of E-mail server, and improve the administration
of the safety of E-mail service system. Security measures should be taken as soon as any safety loopholes are found.

Article 8

The providers for E-mail service on internet shall, while providing service to the consumers, inform the consumers of the content
of service and rules for use.

Article 9

The providers for E-mail service on internet have the duty to maintain secrecy about the consumers’ personnel registration information
and E-mail address on internet.

The providers for E-mail service on internet and their staffs should not use illegally the consumers’ personnel registration information
and E-mail address on internet, and without the consumers’ permission, should not leak the consumers’ personnel registration information
and E-mail address on internet except for the circumstances stipulated separately by law and administrative law and regulations.

Article 10

The providers for E-mail service on internet shall note down the time of sending or receiving Internet E-mail, E-mail address on internet
and IP address of the persons sending and receiving the E-mail of the Internet E-mail sent or received through their E-mail server.
Above record should be kept for sixty days and should be provided to the relevant agency of the state for the examination according
to law.

Article 11

No organization or individual shall produce, copy, publish or spread the Internet E-mail as prescribed in Article 57 of Telecommunication
Regulations of the People’s Republic of China.

No organization or individual shall be engaged in the activities harming the safety of network and information as prohibited in Article
58 of Telecommunication Regulations of the People’s Republic of China.

Article 12

No organization or individual shall have any of following activities:

1.

Making use of others’ computer system to send internet E-mail without any authorization; or

2.

Sell, share or exchange others’ E-mail address on internet obtained by means of automatically collection on line, willfully combination
of letters or numerals, or send internet E-mails to the internet E-mail address obtained by above means.

Article 13

No organization or individual shall have any of following activities of sending internet E-mail or authorizing others to send Internet
E-mail:

1.

Intentionally suppressing or forging envelope information of Internet E-mail;

2.

Without explicit agreement of the receiver of Internet E-mail, sending Internet E-mail containing the content of business advertisement
thereto; or

3.

Do not give clear indication of the word “advertisement” or “AD” in front of the tile of Internet E-mail when sending internet E-mail
containing the content of business advertisement.

Article 14

Where a receiver of internet E-mail agrees clearly to receive the internet E-mail containing the content of business advertisement,
but refuses to receive it, internet E-mail sender shall stop sending it except that there is an agreement between the both sides.

The sender for internet E-mail service shall, while sending internet E-mail containing the content of business advertisement, provide
the contact information to the receiver for refusing to receive it continuously, including the internet E-mail address of the sender,
and guarantee that the contact information is valid within 30 days.

Article 15

The provider for internet E-mail service and the telecommunication provider providing access service for internet E-mail service should
accept and handle the users’ complaints on internet E-mail and provide direct and simple way for the informants.

Article 16

The provider for internet E-mail service and the telecommunication provider providing access service for internet E-mail service shall
handle the consumers’ complaints according to following requirements:

1.

Where an informed internet E-mail containing clearly the content that is prohibited as prescribed in Article 11 , Section 1 of these
Measures is found, it should be reported to relevant agency of the state;

2.

All the informed internet E-mail except for the E-mail prescribed in Section 1 of this Article should be reported to Internet E-mail
Informant Center established by China Internet Association with the authorization of the MII (IEIC); and

3.

Where an informed internet Email referring to this unit, an investigation should be carried out immediately, reasonable and effective
looking-out or treatment measures should be taken, and the result of relevant information and investigation should be reported in
time to the relevant agency of the state or IEIC.

Article 17

IEIC shall, according to the rules and process worked out by the MII, carries out following works:

1.

Accept and handle the complaints on internet E-mail;

2.

Assist MII or TA to confirm whether the informed internet E-mail violates the provisions of related clauses of these Measures, and
assist to find out corresponding responsible persons; and

3.

Assist relative agency of the state to find out corresponding responsible persons violating the provisions of Article 11 of these
Measures.

Article 18

The provider for internet E-mail service and telecommunication business provider providing access service for internet E-mail service
shall cooperate positively with relevant agency of the state and IEIC in relevant investigation.

Article 19

Whoever violates the provisions of Article 4 of these Measures to be engaged in internet E-mail service without the license of value
added telecommunication business or without going through record formalities for non-operational internet information service should
be punished according to the provisions of Article 19 of Measures for Administration of Internet Information Service.

Article 20

Whoever violates the provisions of Article 5 of these Measures should be ordered to make correction by MII or TA according to its
function and power, and a fine of less than 10 thousand Yuan should be imposed.

Article 21

Whoever does not perform the obligations stipulated in Article 6 , 7, 8 and 10 of these Measures should be ordered to make correction
by MII or TA and a fine of more than 5 thousand Yuan and less than 10 thousand Yuan should be imposed.

Article 22

Whoever violates the provisions of Article 9 of these Measures should be ordered to make correction by MII or TA and a fine of less
than 10 thousand Yuan should be imposed. Whoever has obtained illegal income should be imposed a fine of less than 30 thousand Yuan.

Article 23

Whoever violates the provisions of Article 11 of these Measures should be punished according to the provisions of Article 67 of
Telecommunication Regulations of the People’s Republic of China.

Where any providers for internet E-mail service and any other telecommunication providers have the prohibited activities as stipulated
in Article 11 of these Measures, MII or TA shall give them punishment according to the provisions of Article 78 of Telecommunication
Regulations of the People’s Republic of China and Article 20 of Measures for Administration of Internet Information Service.

Article 24

Whoever violates the provisions of Article 12 , 13 and 14 of these Measures should be ordered to make correction by MII or TA and
a fine of less than 10 thousand Yuan should be imposed. Whoever has illegal income should be imposed a fine of less than 30 thousand
Yuan.

Article 25

Whoever violates the provisions of Article 15 , 16 and 18 of these Measures should be given a warning by MII or TA according to its
function and power and a fine of more than 5 thousand Yuan and less than 10 thousand Yuan should be imposed.

Article 26

Internet E-mail address in terms of these measures refers to the only endpoint identifier in the world which is used to send internet
E-mails to the consumers of E-mail on internet.

Envelope information of internet E-mail in terms of these Measures refers to the information that is attached to internet E-mail and
used for identifying sender, receiver and route, showing the source, destination and transmitting process of the E-mail.

The tile information of internet E-mail in terms of these Measures refers to the information attached to internet E-mail used for
identifying the content of internet E-mail.

Article 27

These Measure shall come into effect as of March 30, 2006.



 
Ministry of Information Industry
2006-02-20

 






CIRCULAR OF CHINA INSURANCE REGULATORY COMMISSION CONCERNING RELEVANT ISSUES ON SETTLEMENT AND PAYMENT OF INSURANCE PROTECTION FUND

China Insurance Regulatory Commission

Circular of China Insurance Regulatory Commission concerning Relevant Issues on Settlement and Payment of Insurance Protection Fund

Bao Jian Fa [2006] No.18

All insurance companies,

In order to do a good job for settlement and payment of insurance protection fund, and according to the Measures for the Administration
of Insurance Protection Fund (Bao Jian Hui Ling [2004] No.16) and the Notice on Relevant Issues concerning Payment of Insurance Protection
Fund (Bao Jian Fa [2005] No. 26), we hereby notified the relevant issues as follows:

I.

According to the relevant provisions of the Measures for the Administration of Insurance Protection Fund, an insurance company shall,
within four months after the end of each fiscal year, calculate the payable amount of insurance protection fund of the whole year
by itself, and in light of the amount prepaid on quarterly basis, determine the amount of insurance protection fund that shall be
paid up in the year or the amount that may be used for the payable amount of insurance protection fund of the next year , and fill
in the Declaration Form for Settlement and Payment of Insurance Protection Fund (hereinafter refers to as “Declaration Form”), and
declare the annual insurance protection fund to China Insurance Regulatory Commission (CIRC).

II.

According to the Measures for the Administration of Insurance Protection Fund and other relevant provisions, an insurance company
shall compute the amount of insurance protection fund payable strictly and according to the facts, fill in the Declaration Form
accurately to ensure the truthfulness and completeness of the data in the Declaration Form. The legal person of the company, person
who takes the charge of the work of financial affairs, and the tabulator shall sign their names and the common seal shall be affixed
on the Declaration Form.

III.

When declaring the payment of annual insurance protection fund, an insurance company shall submit materials as follows:

1.

Paper text of the Declaration Form (in duplicate);

2.

The Excel file format of Electronic text of the Declaration Form ; and

3.

Other documents that shall be handed in as required by CIRC.

The electronic text of the Declaration Form shall be submitted through emails to (bzjj@circ.gov.cn).

IV.

The Declaration Form shall be examined by CIRC within one month after receiving the Declaration Form, and the Notice of Settlement
and Payment shall be sent to the insurance company according to the examination results, and each company shall be notified of the
amount of insurance protection fund that should be paid up or may be set off for the payable amount of insurance protection fund
of the next year.

V.

If the prepaid amount of insurance protection fund is less than the amount payable of the whole year, the underpaid part (namely the
amount that should be paid up) shall be paid off before June 30 of the next year; if the prepaid insurance protection fund is more
than the amount payable of insurance protection fund of the whole year, the overpaid part (namely the amount that may be set off
for payable) shall be used for setting off the prepaid amount of the second, third, and fourth quarters of the next year.

VI.

The model of Declaration Form may be downloaded from the website of CIRC (www.circ.gov.cn).

VII.

If having problems in the implementation, please reflect to the financial department of CIRC in a timely manner. The contact persons:
Wang Song and Guo Jing, Telephone: ￿￿010￿￿66286637￿￿66286182.

China Insurance Regulatory Commission

February 28, 2006



 
China Insurance Regulatory Commission
2006-02-28

 






LETTER OF CHINA BANKING REGULATORY COMMISSION CONCERNING THE APPROVAL OF THE ANOD BANK CO., LTD. MONGOLIA TO ESTABLISH BEIJING REPRESENTATIVE OFFICE

Letter of China Banking Regulatory Commission concerning the Approval of the ANOD Bank Co., Ltd. Mongolia to Establish Beijing Representative
Office

ANOD Bank Co., Ltd., Mongolia

The letter which was signed by your president, Nyamaa Davaa, and was addressed to this Commission has been received.

According to the Measures on the Administration of Foreign-funded Financial Institutions’ Representative Offices in China (Order No.
8, 2002 of the People’s Bank of China) (hereinafter referred to as these Measures), you are hereby approved to establish a representative
office in Beijing whose name in Chinese is “￿￿Ű￿ŵ￿￿￿￿￿￿￿￿˾￿￿￿￿￿￿” and whose name in a foreign language is “Beijing
Representative Office of ANOD Bank Co., Ltd.”.

According to the related provisions of these Measures, and upon approval, Saranbaatar Bayarmagnai is granted to have the qualifications
as the chief representative of this Representative Office.

China Banking Regulatory Commission

March 2, 2006



 
China Banking Regulatory Commission
2006-03-02

 






NOTICE OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING THE DETERMINATION OF PERMANENT ESTABLISHMENTS IN TAX AGREEMENTS

State Administration of Taxation

Notice of the State Administration of Taxation on the Relevant Issues concerning the Determination of Permanent Establishments in
Tax Agreements

Guo Shui Fa [2006] No. 35

The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central
Government, cities specifically designated in the state plan, and Institute of Continuing Tax Education of Yangzhou,

It is prescribed that the term “permanent establishment” means a fixed place of business through which the business of an enterprise
is wholly or partly carried out by Paragraph 1 of Article 5 (Permanent Establishment) and the term “permanent establishment” shall
not include the fixed business place established solely for of the enterprise itself to carry out preparatory or auxiliary activities
by Paragraph 4 as in foreign tax agreements signed by our country prescribes that. We hereby give our explanations as follows about
the terms “business” and “preparatory or auxiliary” and other issues concerning permanent establishment as follows in the light of
the explanations of tax agreements sample of the United Nations and the Organization for Economic Co-operation and Development as
well as the practices of most countries in the world:

I.

The Chinese term “yingye” is a literal translation of the English word “business”, which includes not only business operations but
also common business operations conducted by non-profit institutions. Therefore, if any non-profit institution of the other contracting
party in a tax agreement carries out business operations, excluding the preparatory or auxiliary activities for the aforesaid institution,
at a fixed base or place within China, it shall be regarded as “permanent establishment” in China.

II.

The principles as follows shall be observed when determining “preparatory or auxiliary” activities:

1.

Whether the fixed base or place only provides services to its head office or whether it has business relation with other entity;

2.

Whether the business nature of the fixed base or place is identical to that of its head office; and

3.

Whether the business operations of the fixed base or place are an important part of those of its head office.

If the fixed base or place not only provides services to its head office but also has business relation with other entity, or its
business nature is identical to that of its head office and its business operations are an important part of those of its head office,
the activities of such fixed base or place shall not be considered as preparatory or auxiliary activities.

III.

The individual income tax on the salaries and wages obtained by residents of the other signatory country for working at the permanent
establishment shall be collected in accordance with the provisions on “non-independent personal services” (or “remunerations from
employment”) in the tax agreement and other relevant tax law of the State. The tax on the services provided for the government of
a signatory country shall be collected or exempted in accordance with the provisions on “government services” in the tax agreement.

IV.

Where a taxpayer argues that its agency or place within the territory of China only provides preparatory or auxiliary services to
its head office and is not a permanent establishment, it shall provide the relevant certification materials to the competent department
of taxation and be followed to determination of the competent department of taxation.

State Administration of Taxation

March 14, 2006



 
State Administration of Taxation
2006-03-14

 






1...678...83Page 7 of 83

CONSTITUTION ACT, 1982 – page 22

NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as...

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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