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DECISION OF CSRS CONCERNING LIFTING THE RESTRICTIONS ON THE BUSINESSES OF UNITED SECURITIES CO., LTD.

Decision of CSRS concerning Lifting the Restrictions on the Businesses of United Securities Co., Ltd.

Zheng Jian Ji Gou Zi [2006] No. 162

United Securities Co., Ltd.

On May 11, 2006, this Commission issued a Decision concerning Restricting the Businesses of United Securities Co., Ltd. (Zheng Jian
Ji Gou Zi [2006] No. 85), which provides that the measures for restricting your company’s businesses would be taken since May 15,
2006, including the suspension of recommendation and underwriting businesses, of the account securities agency business, of conducting
new businesses, of increase and acquisition of business branches and of move and transfer of business branches.

Whereas your company has replenished the full amount of shortage of settlement fund for the client transactions, according to Article
150 of the Securities Law, this Commission decides to lift the aforementioned restrictions on your company’s businesses since July
21, 2006.

China Securities Regulatory Commission (CSRS)

July 20, 2006



 
China Securities Regulatory Commission (CSRS)
2006-07-20

 






CIRCULAR OF THE GENERAL OFFICE OF THE STATE ENVIRONMENTAL PROTECTION ADMINISTRATION ON STRENGTHENING THE EXAMINATION AND APPROVAL OF WASTE RESTRICTED FROM IMPORT

Circular of the General Office of the State Environmental Protection Administration on Strengthening the Examination and Approval
of Waste Restricted from Import

Huan Ban [2006] No.89

The competent bureaus (departments) of environmental protection in all provinces, autonomous regions, municipalities directly under
the Central Government:

For the purpose of strengthening the administration of solid waste used as raw materials which are restricted from import (hereinafter
referred to as “imported waste”), regulating its examination and approval, putting an end to the illegal activities of reselling
import licence of solid waste at high profits and preventing environmental pollution caused by the processing and utilization of
solid waste, it is hereby notified:

I.

To further strengthen the examination and approval of waste import ports

The competent departments of environmental protection at all levels shall strengthen the administration of waste import ports in accordance
with the Circular on Relevant Issues Concerning the Strengthening of Examination and Approval of Waste Restricted from Import (Huan
Ban [2004] No.100). They shall be examined and approved by the competent departments nearby. When examining the applications of importing
waste through coastal ports of other provinces, autonomous regions and municipalities, the competent departments in the following
21 provinces, autonomous regions and municipalities, i.e. Heilongjiang, Jilin, Inner Mongolia, Shanxi, Shaanxi, Ningxia, Gansu, Qinghai,
Xinjiang, Tibet, Sichuan, Chongqing, Yunnan, Guizhou, Hubei, Hunan, Jiangxi, Anhui, Hebei, Henan and Beijing, shall strengthen the
examination and verification of the capacity of the entities which process and utilize imported waste, their utilization record and
the feasibility of cost accounting of importing waste through remote ports; the applications shall be submitted to the State Environmental
Protection Administration only when they passed the local examinations.

II.

To further strengthen the supervision and administration of the entities which import and process waste plastics and waste hardware
and electric appliance

1.

To make a record of the entities which utilize imported waste. As of September 1, 2006, entities which import waste plastics and waste
hardware and electric appliance shall register at local competent departments of environmental protection and fill in the Record
Form of Entities Importing Solid Waste as Raw Materials(For Trial Implementation) (See Appendix 1)

2.

To make a record of the current utilization of imported waste. As of the beginning day of importing solid waste, the registered entities
shall keep a daily operation notebook and record exactly the importations, transportations, utilization and disposal of imported
waste (including the disposal of residues which cannot be utilized). They shall fill in the Record Form of Solid Waste Utilization
as Raw Materials (For Trial Implementation) (See Appendix 2) every quarter for key issues noted on their daily operation notebook
and submit it to the competent departments for record. They shall also preserve relevant documents for inquiry for at least 3 years.

3.

To strengthen supervision and inspection. The competent departments of environmental protection at all levels shall strengthen the
supervision and administration of the entities which import and process waste plastics and waste hardware and electric appliance,
and conduct regular inspections on their utilizing capacity, current situation and pollution prevention measures. The municipal departments
of environmental protection shall submit to the provincial ones the record of these entities, of their current situation of utilization
and the results of supervision and inspection on them, the summary of which shall then be submitted to the State Environmental Protection
Administration.

III.

To continue to combat forgery, falsification and reselling of import licence of solid waste at high profits

To ensure that imported waste is processed and utilized in entities which have legally obtained the import licence of solid waste,
the competent departments of environmental protection at all levels, especially those of coastal cities, shall strengthen the combat
against local illegal activities of forgery, falsification and reselling of import licence of solid waste at high profits in conjunction
with local competent departments of public security, customs and quality control. Those who are confirmed to have committed illegal
activities shall take responsibilities in accordance with the law and be made known to all by announcement.

Appendix:

1.

Record Form of Entities Importing Solid Waste as Raw Materials (For Trial Implementation)

2.

Record Form of Solid Waste Utilization as Raw Materials (For Trial Implementation)

General Office of the State Environmental Protection Administration

August 1, 2006



 
General Office of the State Environmental Protection Administration
2006-08-01

 






CIRCULAR OF THE GENERAL OFFICE OF THE MINISTRY OF COMMERCE ON RELEVANT ISSUES CONCERNING THE IMPLEMENTATION OF THE OPINIONS CONCERNING REGULATING THE ACCESS TO AND ADMINISTRATION OF FOREIGN INVESTMENT IN THE REAL ESTATE MARKET

Circular of the General Office of the Ministry of Commerce on Relevant Issues Concerning the Implementation of the Opinions Concerning
Regulating the Access to and Administration of Foreign Investment in the Real Estate Market

Administrative commercial departments of all provinces, autonomous regions, municipalities directly under the Central Government,
Xinjiang Production and Construction Corps:

The Ministry of Construction, the Ministry of Commerce, National Development and Reform Commission, the People’s Bank of China, the
State Administration for Industry and Commerce and the State Administration of Foreign Exchange, upon the consent of the State Council,
promulgated the Opinions Concerning Regulating the Access to and Administration of Foreign Investment in the Real Estate Market (hereinafter
referred to as the Opinions) on July 11, 2006. Relevant issues concerning the approval and administration of foreign-invested enterprises
during the implementation of the Opinions are hereby notified as follows:

1.

The foreign-invested real estate enterprises mentioned in the Opinions refer to foreign-invested enterprises that engage in the construction
and operation of all kinds of residence such as ordinary residence, apartments and villa, hotels (restaurants), vacation villages,
office buildings, exhibition centers, commercial facilities, theme parks, etc. as well as the land development or tract development
that aim for the construction of the above-mentioned projects.

2.

Where foreign institutions and individuals (hereinafter referred to as foreign investors) are to purchase non-self-use real estates
in China, they shall apply for the establishment of foreign-invested enterprises in accordance with relevant laws, regulations and
rules in respect of foreign investment. Upon approval by relevant departments and after registration, they may engage in the related
business in accordance with the approved scope of business.

3.

Where the amount of investment of a real estate enterprise established by foreign investment is not less than 10 million dollars,
its registered capital shall not be less than 50% of its amount of investment; If the investment amount is more than 3 million dollars
but less than 10 million dollars, its registered capital shall not be less than 50% of its amount of investment; If the investment
amount is not more than 3 million dollars, its registered capital shall not be less than 70% of its amount of investment.

4.

With respect of the establishment of a foreign-invested real estate enterprise, the commercial administrative departments and the
industrial and commercial administrative organs shall grant an approval for establishment and handle the relevant formalities for
registration pursuant to law, and issue a one-year Approval Certificate of Foreign-invested Enterprises and Business License. In
addition, a statement that “This Certificate shall expire on ___ (date)” shall be clearly given in the remarks column.

5.

-invested real estate enterprises shall pay the land transfer fee to land administrative authorities within validity period, apply
for a Certificate for Using State-owned Land and may, in accordance with the Certificate for Using State-owned Land, renew the formal
Approval Certificate of Foreign-invested Enterprises in the commercial administrative department and thereafter, renew the Business
License with the same term as the Approval Certificate of Foreign-invested Enterprises in the industrial and commercial administrative
organs.

6.

The “transfer of projects by foreign-invested real estate enterprises” mentioned in the Opinions refers to the transfer by the foreign-invested
real estate enterprises of the land they developed or real estate they constructed to domestic or foreign investors pursuant to the
law. The transfer of projects by foreign-invested real estate enterprises shall be submitted for approval in accordance with relevant
provisions of the State. The already-built commercial houses, purchased by domestic or foreign institutions or individuals for self-use
or self-accommodation do not fall into the scope of the “transfer of projects by foreign-invested real estate enterprises”.

7.

Where an overseas investor merges domestic real estate enterprises through equity transfer or any other ways, it shall make appropriate
arrangements for the relevant employees, settle the bank debts and pay the transfer fee with its self owned capital in a one-off
manner within three months as of the day the business license of the foreign-invested enterprise was issued.

8.

Where an overseas investor acquires the equities of the Chinese party of a foreign-invested real estate enterprise, it shall make
appropriate arrangements for the relevant employees, settle the bank debts and pay the transfer fee with its self owned capital in
a one-off manner within three months as of the day the equity transfer agreement came into force.

All commercial departments at all levels shall examine and approve foreign-invested real estate enterprises strictly in accordance
with the provisions above and in case of any problems encountered in the course of implementation, they may contact the Ministry
of Commerce (the Foreign-investment Department) on a timely basis.

General Office of the Ministry of Commerce

August 14, 2006



 
General Office of the Ministry of Commerce
2006-08-14

 






MINISTRY OF COMMERCE ANNOUNCEMENT NO.60 ON PRELIMINARY ARBITRATION ON IMPORTED POTATO STARCH ORIGINATING FROM EU

Ministry of Commerce Announcement No.60 on Preliminary Arbitration on Imported Potato Starch Originating from EU

No.60 [2006]

In accordance with Anti-dumping Regulations of the People’s Republic of China, Ministry of Commerce released Announcement No.4, 2006
on Feb 6, 2006, deciding to carry out anti-dumping investigation on imported potato starch (hereinafter referred to as “investigated
commodities”) originating from EU.

Ministry of Commerce carried out investigation on dumping and dumping profit margin as well as injury and injury extent, according
to the results of which as well as tem No. 24 of the Anti-dumping Regulations of the People’s Republic of China, Ministry of Commerce
release preliminary attribution (please refer appendix). Relevant matters are now announced as follows:

1.

Preliminary Attribution

In accordance with investigation results, Ministry of Commerce confirms the dumping of potato starch originating from EU, industrial
injuries of domestic potato starch industry as well as the causality between dumping of the investigated commodities and the injury
of Chinese potato starch industries.

2.

Deposit

In accordance with tem No. 28 and 29 of the Anti-dumping Regulations of the People’s Republic of China, Ministry of Commerce decides
to carry out anti-dumping measures by means of cash deposit. As from Aug 18, 2006, importers shall provide relevant deposits to customs
of the People’s Republic of China for the importing of potato starch originating from the EU in accordance with anti-dumping margin
of the preliminary arbitration.

Deposit rates of different Companies:

(1)

AVEBE U.A.: 44 percent

(2)

Avebe Kartoffelstarkefabrik Prignitz/Wendland GmbH: 44 percent

(3)

ROQUETTE FRERES: 35 percent

(4)

All Others: 57.1 percent

3.

Methods of levying deposit

Import operators shall pay the corresponding deposit to the Customs of PRC as of 18 August 2006 when importing potato starch originating
from EU. The deposit shall be levied on the duty-paying value approved by the Customs, the formula of which is as follows:

Amount of deposit = (Customs dutiable value price * deposit rate) * (1+ value-added tax in the link of import)

4.

Comment

All interested parties may submit relevant evidences to Ministry of Commerce in 20 days for consideration as from release of this
announcement.

Appendix:Ministry of Commerce Preliminary Attribution on Potato Starch Originating from the EU

Ministry of Commerce

Aug 18, 2006



 
Ministry of Commerce
2006-08-18

 






CIRCULAR OF THE NATIONAL DEVELOPMENT AND REFORM COMMISSION AND THE GENERAL ADMINISTRATION OF CIVIL AVIATION OF CHINA ON ADJUSTMENT IN THE PASSENGER FUEL SURCHARGE FOR DOMESTIC FLIGHTS

Circular of the National Development and Reform Commission and the General Administration of Civil Aviation of China on Adjustment
in the Passenger Fuel Surcharge for Domestic Flights

Fa Gai Jia Ge [2006] No.1683

The Development and Reform Commissions and Price Bureaus of all provinces, autonomous regions, and municipalities directly under the
Central Government, all District Administrations of CAAC and all Air Carriers:

Upon approval by the State Council, an adjustment in the passenger fuel surcharge for domestic flights will be implemented in light
with the recent change in domestic aviation fuel price. Notice on matters concerned is as follows:

1.

According to the adjustment, the passenger jetliner fuel surcharges on domestic flights for each passenger flying less than 800 kilometers
shall rise to 60 yuan from the current 30 yuan and those on routes over 800 kilometers shall pay a 100-yuan surcharge, up from 60
yuan The rises are to be implemented on September 1st, 2006, subject to flight times. Passengers who have booked the tickets in advance
are exempted from the recharge.

2.

Infants, charged by 10% of the general full, shall continue to be exempt from this surcharge; children (including unaccompanied children),
disabled revolutionary servicemen, and people’s police disabled while on duty, charged by 50% of the general full, shall continue
to be charged by half of the surcharge, namely 30 yuan for each passenger whose traveling distance is less than 800 kilometers, and
50 yuan over this distance.

3.

All levels of departments in charge of price shall protect the legitimate rights and interests of consumers by strengthening their
supervision and inspection over the implementation of the aviation transportation prices, and investigating and handling illegal
acts on price in time.

The National Development and Reform Commission

The General Administration of Civil Aviation of China

August 24 2006



 
The National Development and Reform Commission, the General Administration of Civil Aviation of China
2006-08-24

 






CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON RELEVANT ISSUES CONCERNING THE ADMINISTRATION OF FOREIGN EXCHANGE ON FUND MANAGEMENT COMPANY’S OVERSEAS INVESTMENT IN SECURITIES

Circular of the State Administration of Foreign Exchange on Relevant Issues concerning the Administration of Foreign Exchange on Fund
Management Company’s Overseas Investment in Securities

Hui Fa [2006] No. 46
August 30, 2006

Branch offices and foreign exchange control departments of the State Administration of Foreign Exchange in all provinces, autonomous
regions and municipalities directly under the Central Government, branch offices in the cities of Shenzhen, Dalian, Qingdao, Xiamen
and Ningbo:

In order to meet the reasonable demands of domestic individual residents and institutions in overseas financial investment and assets
management, and to regulate the administration of foreign exchange on fund management company’s overseas investment in securities,
and in accordance with the spirit of the Announcement of the People’s Bank of China [2006] No. 5, a circular is hereby given on relevant
issues as follows:

Article 1

Where a fund management company handles the overseas investment in securities, it shall in advance obtain an approval, and obtain
a qualification in dealing with foreign exchange business, and a quota of overseas investment in securities from the local branch
offices or foreign exchange control departments (hereinafter referred to as the foreign exchange bureau) of the State Administration
of Foreign Exchange. And a fund management company may also apply for a qualification in dealing with foreign exchange business when
it applies for a quota of overseas investment in securities.

Article 2

A fund management company may apply for dealing with part or all of these foreign exchange businesses as follows:

(1)

Foreign exchange assets management;

(2)

Foreign exchange capital investment;

(3)

Foreign exchange inter-bank borrowings;

(4)

Status enquiry and advisory services;

(5)

Other businesses approved by the State Administration of Foreign Exchange.

A fund management company’s dealing with the businesses of foreign exchange assets management and foreign exchange capital investment
shall be in line with the relevant prescriptions of China Securities Regulatory Commission (hereinafter referred to as the CSRC).

Article 3

A fund management company shall apply to the local foreign exchange bureau for a qualification in dealing with foreign exchange business
with these documents as follows:

(1)

An application in written form covering the basic situation of the company, the internal organizational structure, r￿￿sum￿￿s and
relevant qualification certificates of the company’s higher managements in foreign exchange business, the feasibility analysis for
dealing with foreign exchange business, service conditions etc.;

(2)

A duplicated copy of the original copy of the Corporation License for Fund Management Company issued by the CSRC;

(3)

The company’s internal control management system and risk prevention measures in foreign exchange business;

(4)

The company’s financial statement of the previous year audited by an accounting firm, and a capital assessment report audited by
an accounting firm for the company which was established less than 1 year ago;

(5)

Other documents required by the foreign exchange bureau.

The local foreign exchange bureau shall, within 20 work days as of the date of receiving the complete application documents, give
an opinion of first instance in accordance with the Code of Procedure on Examining and Verifying the Fund Management Company’s Market
Access to Foreign Exchange Business (See Annex 1), and submit them, in accordance with the procedures, to the State Administration
of Foreign Exchange, which shall, within 20 work days as of the date of receiving the complete application documents, make a decision
of approval or rejection; and if approved, a License for Foreign Exchange Operation in Securities Business shall be issued.

Article 4

A fund management company shall apply to the local foreign exchange bureau for a quota of overseas investment in securities with
these documents as follows:

(1)

An application covering the basic situation of the applicant, the investment quota to be applied for, the fund type to be established
(open/close), the quantum of the fund to be issued, capital resources and a investment plan, and a model of the written agreement
to be concluded with the investors;

(2)

A License for Foreign Exchange Operation in Securities Business or the application documents prescribed in Article 3 of this Circular;

(3)

Documents or relevant evidentiary materials issued by the CSRC to approve its business of overseas investment in securities;

(4)

The company’s financial statement of the last year audited by an accounting firm;

(5)

Other documents required by the foreign exchange bureau.

The local foreign exchange bureau shall, within 20 work days as of the date of receiving the complete application documents, give
an opinion of first instance in accordance with the Code of Procedure on the Foreign Exchange Business of the Fund Management Company’s
Overseas Investment in Securities (See Annex 2), and submit them, in accordance with the procedures, to the State Administration
of Foreign Exchange, which shall, within 20 work days as of the date of receiving the complete application documents, make a decision
of approval or rejection; and if approved, an investment quota and fund quantum shall be clearly defined.

Article 5

A fund management company shall, with the relevant approval documents issued by the foreign exchange bureau, open a self-owned foreign
exchange capital account at a designated foreign exchange bank to deposit the foreign exchange capital and earnings of this company
hereof, and report to the local foreign exchange bureau for records within 5 work days as of the opening of the account hereof.

The scope of receipts of the self-owned foreign exchange capital account of a fund management company is: the remitted foreign exchange
capital, earnings from foreign exchange business and other foreign exchange receipts approved by the foreign exchange bureau, and
the scope of expenditures is: foreign exchange settlement, current expenses and capital account expenditures approved by the foreign
exchange bureau.

Article 6

A fund management company shall, with the approval documents of investment quota issued by the foreign exchange bureau, open a foreign
exchange account for overseas investment in securities to deposit the raised capital and subscription, redemption, dividend and other
foreign exchange capitals, and report to the local foreign exchange bureau for records within 5 work days as of the date of the opening
of this account hereof.

The scope of receipts of the foreign exchange account for overseas investment in securities of a fund management company is: capitals
raised from domestic individual residents and institutions, capitals drawn from domestic custody accounts, capitals remitted by domestic
individual residents and institutions for subscription of funds, and other foreign exchange receipts approved by the foreign exchange
bureau, and the scope of expenditures is: capitals drawn to domestic custody accounts, capitals for paying the investors dividends
and redemptions, and other foreign exchange expenditures approved by the foreign exchange bureau.

Article 7

A fund management company shall, after obtaining the investment quota approved by the foreign exchange bureau, conclude a custody
agreement with a domestic custodian and open a domestic custody account to custody all its assets for overseas investment in securities.
And a domestic custodian shall accord with the conditions prescribed by China Banking Regulatory Commission.

A fund management company shall, within 5 work days as of the date of the opening of this account hereof, file with the local foreign
exchange bureau for records the opening of this account hereof and the custody agreement.

The scope of receipts of a domestic custody account is: capitals drawn from the foreign exchange account for overseas investment in
securities of a fund management company, capitals drawn from an overseas foreign exchange settlement account, and other foreign exchange
receipts approved by the foreign exchange bureau, and the scope of expenditures is: capitals drawn to an overseas foreign exchange
settlement account, capitals drawn to the foreign exchange account for overseas investment in securities of a fund management company,
capitals for paying the investors dividends and redemptions, capitals for paying the custodian fees, management fees and fees for
various kinds of formalities, and other expenditures approved by the foreign exchange bureau.

Article 8

A domestic custodian shall open an overseas foreign exchange settlement account for a fund management company at an overseas custodian
agency, which is used in capital settlement business with the overseas securities registration and settlement institutions etc.,
and file with the State Administration of Foreign Exchange the opening of this account hereof within 5 work days as of the date of
the opening of this account hereof.

The scope of receipts of an overseas foreign exchange settle account is: capitals drawn from a domestic custody account, capitals
acquired through the sale of various kinds of overseas financial assets, dividend distribution and interest receipts and other receipts
approved by the foreign exchange bureau, and the scope of expenditures is: capitals drawn to a domestic custody account, capitals
for purchasing various kinds of overseas financial assets, capitals for paying relevant fees, and other expenditures approved by
the foreign exchange bureau.

Article 9

A fund management company may remit out and remit in the balance between the subscription and redemption of open funds through a
domestic custody account, and the accumulated net remit-out amount of a fund management company shall not exceed the investment scale
calculated on the basis of the investment quantum approved by the foreign exchange bureau.

Article 10

The subscription of funds by a domestic individual resident and institution shall be handled through banks with the written agreements
concluded between it and a fund management company. An individual, when subscribing funds, shall use its foreign exchange deposit
in a domestic bank rather than directly using foreign currency cash, and a domestic institution shall not subscribe funds with debt
foreign exchange capitals.

Article 11

The foreign exchange capitals acquired by a domestic individual resident and institution from the redemption and dividend of funds
shall undergo the formalities of withdrawal and transfer at a bank with a payment order from a fund management company, and be transferred
to its foreign exchange deposit account. An individual shall not directly draw cash or foreign exchange settlement from its foreign
exchange account for overseas investment in securities. The foreign exchange capitals acquired by a domestic institution from the
redemption and dividend of funds shall be transferred to its former foreign exchange account by a bank.

Article 12

A domestic custodian shall, in accordance with the prescribed pattern (See Annexes 1, 2 and 3), submit data to the State Administration
of Foreign Exchange within 7 work days after the end of each month, and conduct submission on international receipts and expenditures
in accordance with relevant prescriptions.

Article 13

The foreign exchange bureau of where a fund management company is located shall monthly tabulate and submit to the State Administration
of Foreign Exchange the openings and cancellations of the self-owned foreign exchange accounts, foreign exchange accounts for overseas
investment in securities, domestic custody accounts of the fund management companies within the jurisdiction of its own.

Article 14

A fund management company and bank in violation of the prescriptions in this Circular shall be punished by the foreign exchange bureau
in accordance with the Foreign Exchange Control Regulations of the People’s Republic of China and relevant administrative regulations
on foreign exchange. With regard to a domestic custodian in a gross violation, a fund management company may be instructed by the
foreign exchange bureau to change the custodian hereof; and with regard to a fund management company in a gross violation, the foreign
exchange bureau may cancel its investment quota or revoke its License for Foreign Exchange Operation in Securities Business.

Article 15

This Circular shall come into force as of the date of promulgation. All branch offices and foreign exchange control departments,
after receiving this Circular, shall timely redistribute this Circular to the central branch offices within their jurisdictions,
and redistribute this Circular and the annexed lists to the fund management companies and designated foreign exchange banks within
their jurisdictions. And if problems occur in the implementation, the State Administration of Foreign Exchange shall be timely informed.

Annexes

(1)

Code of Procedure on Examining and Verifying the Fund Management Company’s Market Access to Foreign Exchange Business (omitted)

(2)

Code of Procedure on the Foreign Exchange Business of the Fund Management Company’s Overseas Investment in Securities (omitted)

Annexed Lists

(1)

Monthly Report on Overseas Investment in Securities by Qualified Domestic Institutional Investor (I)

(2)

Monthly Report on Overseas Investment in Securities by Qualified Domestic Institutional Investor (II)

(3)

List on Capital Remit-outs and Remit-ins by Qualified Domestic Institutional Investor



 
State Administration of Foreign Exchange
2006-08-30

 






CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON THE RELEVANT ISSUES ON THE INTEREST RATE OF THE LOANS FOR ETHNIC TRADE AND THE PRODUCTION OF ETHNIC ARTICLES DURING THE 11TH FIVE-YEAR PLAN

Circular of the People’s Bank of China on the Relevant Issues on the Interest Rate of the Loans for Ethnic Trade and the Production
of Ethnic Articles During the “11th Five-Year Plan”

Ying Fa [2006] No.315

Shanghai Head Office, all branches, business administration departments, central sub-branches of provincial capital cities of the
People’s Bank of China, and all state-owned commercial banks:

For the purpose of supporting the development of the ethnic minority regions, the People’s Bank of China, pursuant to the spirit of
the relevant instructions of the State Council, determined to continue offering preferential interest rates to the loans for ethnic
trade and the production of ethnic articles during the “11th five-year plan”. The relevant issues are notified as follows:

The People’s Bank, the Ministry of Finance and the State Ethnic Affairs Commission will actively make researches on new measures on
the interest discount of the loans for ethnic trade and the production of ethnic articles during the “11th five-year plan”. As for
the designated enterprises in the business of ethnic trade and the production of the commodities specially needed by minority ethnic
groups, all state-owned commercial banks shall, before the promulgation of new measures, continue carrying out the preferential interest
rate policy, under which the interest rate of the normal loan for current capital shall be lower than the benchmark interest rate
of the normal “one-year” loan for current capital by 2.88 percentage points and the preferential interest rate may not be floated,
and this preferential policy shall enter into force as of January 1, 2006. The range of the granting of the loans with preferential
interest rate, application for loan, administration of preferential interest rate, procedures for applying interest subsidies and
other relevant issues shall be done still according to the Notice on Continuing Granting Preferential Interest Rate to the Loans
for Ethnic Trade and the Production of Ethnic Articles (Yin Fa [1997] No.437 and the Notice of the People’s Bank of China on Issues
Concerning the Interest Rate of the Loans for Ethnic Trade and the Production of Ethnic Articles (Yin Fa [2003] No.8).

Shanghai Head Office, all branches, and the business administration departments of the People’s Bank of China shall intensify the
inspection and supervision of the carrying out of the preferential interest rate policy on the loans for ethnic trade and the production
of ethnic articles, and do well the work in respect of interest discount.

People’s Bank of China

September 6, 2006



 
The People’s Bank of China
2006-09-06

 






ANNOUNCEMENT OF NO.134, 2006 OF THE STATE ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE ON PROMULGATING THE INSTITUTION LIST ACQUIRING THE QUALIFICATION FOR INSPECTION AND APPRAISAL OF IMPORT AND EXPORT COMMODITIES

Announcement of No.134, 2006 of the State Administration of Quality Supervision, Inspection and Quarantine on Promulgating the Institution
List Acquiring the Qualification for Inspection and Appraisal of Import and Export Commodities

[2006] No.134

In accordance with Law of the People’s Republic of China on Import and Export Commodity Inspection, Measures for the Administration
of Import and Export Commodity Inspection and Authentication Institutions (Decree of the State Administration of Quality Supervision,
Inspection and Quarantine 2003, No.58) and the Announcement of the State Administration of Quality Supervision, Inspection and Quarantine
2003, No. 122, with the permission of the State Administration of Quality Supervision, Inspection and Quarantine after examining,
and an announcement is hereby given on the list of inspection and appraisal institutions acquiring the qualification for engaging
in inspection and appraisal of import and export commodities as follows:

1.

Dongwan Inspection and Testing Co., Ltd.

2.

Shanghai Specialized Technology Resources Co., Ltd.

3.

Shanghai Befake Inspection Co., Ltd.

4.

Hangzhou Ruike Textile Co., Ltd.

5.

Nanjing Jin’ao Inspection Co., Ltd.

6.

Shanghai Intertek Group Plc.

Beijing Branch, Qingdao Branch, Xuhui Branch and Kunming Branch

7.

Nanjing Jinli Inspection Co., Ltd.

8.

SGS Group Plc.

Changzhou Branch￿￿Suzhou Branch, Fuzhou Branch, Zhuhai Branch, Quanzhou Branch and Dongwan Branch

9.

Shanghai Lingxiang Inspection Technology Co., Ltd.

10.

Nanjing Jinjian Inspection Co., Ltd.

11.

Zhejiang Zhongheng Commodity Inspection Co., Ltd.

12.

Yangzhou Import and Export Toy Inspection Institute of PRC.

13.

Shenzhen Pengcheng Import and Export Commodities Inspection and Appraisal Institute Co., Ltd. , Shanghai Branch

14.

Zhejiang Jiuliang Commodity Inspection and Identification Co., Ltd.

15.

Bejing Tianyi International Inspection and Appraisal Co., Ltd.

16.

Shanghai Highlevels Surveying Co., Ltd.

17.

China Certification and Inspection (Group) Co., Ltd.

Jilin Co., Ltd. ,Henan Co., Ltd.

18.

Shanghai Xiangcheng Commodity Inspection Technology Service Co., Ltd.

The State Administration of Quality Supervision, Inspection and Quarantine

September13, 2006



 
The State Administration of Quality Supervision, Inspection and Quarantine
2006-09-13

 






REPLY OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON THE TAX EXEMPTION CONCERNING THE FRANCHISE ROYALTIES COLLECTED BY THE INTERNATIONAL OLYMPIC COMMITTEE

Reply of the Ministry of Finance and the State Administration of Taxation on the tax Exemption concerning the Franchise Royalties
Collected by the International Olympic Committee

Cai Shui [2006] No.133
September 21, 2006

Beijing Municipal Bureau of Finance, state tax bureaus and local tax bureaus:

We have received your Request for the Tax Exemption on the Franchise Royalties Collected by the International Olympic Committee (Jing
Cai Shui [2006] No.467), the reply is hereby given as follows:

A certain proportion of franchise royalties is collected by the International Olympic Committee on the franchise commodities exported
by the domestic franchise enterprises of the host country of Olympic Games base on the export wholesale price. The franchise royalties
fall into the incomes obtained by the International Olympic Committee within the territory of China and related to the 29th Olympic
Games. In accordance with the provision of Paragraph 1, Article 2 of the Circular of the Ministry of Finance, the State Administration
of Taxation and the General Administration of Customs on Several Issues Concerning the Tax Policies for the 29th Olympic Games (Cai
Shui [2003] No.10), we hereby consent to exempt the relevant taxes from the aforesaid income gained by the International Olympic
Games.



 
The Ministry of Finance, the State Administration of Taxation
2006-09-21

 






CIRCULAR OF THE MINISTRY OF FINANCE ON PRINTING AND DISTRIBUTING OF FINAL FINANCIAL AND ACCOUNTING STATEMENTS OF ENTERPRISES ABROAD FOR THE YEAR 2006

Circular of the Ministry of Finance on Printing and Distributing of Final Financial and Accounting Statements of Enterprises Abroad
for the Year 2006

Cai Qi [2006] No.341

Relevant departments under the Central Committee of the CPC, relevant ministries and commissions of and relevant institutions directly
under the State Council, General Office of the Standing Committee of National People’s Congress, General Office of the CPPCC, Higher
People’s Courts, Higher People’s Procuratorates, relevant mass organizations, Xinjiang Production and Construction Corps, departments
(bureaus) of the public finance of all provinces, autonomous regions, municipalities directly under the Central Government and cities
specifically designated in the state plan, and relevant enterprises directly under the Central Government:

For the purpose of ensuring correct formulation of accounting statements of enterprises abroad for the year 2006 and keeping breast
in a timely manner of the financial conditions and operating results of state-owned enterprises (administrative organs) abroad, the
Ministry of Finance hereby prints and distributes the Final Financial and Accounting Statements of Enterprises Abroad for the Year
2006 to you all, and related matters are notified as follows:

I.

This set of statements shall apply to state-owned enterprise groups abroad invested and established outside the territory of the People’s
Republic of China or in Hong Kong and Macao Special Administrative Regions, domestic investment entities that have established enterprises
abroad or administrative organs abroad outside the territory of China or in Hong Kong and Macao Special Administrative Regions and
enterprises abroad directly invested and controlled by the domestic investment entities as mentioned above.

The state-owned enterprise groups abroad refer to China Merchant Group Co., Ltd Hong Kong, China Travel Service (Holdings) Hong Kong
Limited, China Resources (Holdings) Co., Ltd, Macao Nam Kwong (Group) Company Limited and relevant local enterprise groups abroad.

Finance and insurance enterprises abroad are not within the scope of filling-in of this set of statements prescribed in the Circular
herein.

II.

This set of statements shall be submitted to a higher body by the state-owned enterprise groups abroad and domestic investment entities
after consolidation or collection of all the accounting statements and materials of enterprises abroad. All state-owned enterprise
groups abroad and domestic investment entities shall, in accordance with the requirements as prescribed in this Circular, carry out
in a serious manner the arrangement and organization of accounting statements of their subordinate enterprises abroad.

III.

The statements of enterprises abroad for the year 2006 of all state-owned enterprise groups abroad and domestic investment entities
shall be filled in on the basis of final accounting results and relevant documents on December 31, 2006. In addition, the work of
typing, examination and approval, and collection shall be done in a serious manner so as to ensure the authenticity, completeness
and legitimacy of the data.

IV.

The Final Financial and Accounting Statements of Enterprises Abroad for the Year 2006 shall be filled in and typed separately for
each enterprise with U.S dollars as the unit of amount. Where other foreign currencies are to be converted into U.S. dollars, the
middle price of the exchange rates of the functional currency declared by the local bank thereabout on December 31, 2006 against
U.S dollars shall be complied with.

V.

This set of statements shall serve as the uniform format of final accounting statements submitted to competent financial authorities
by enterprises abroad. Departments (bureaus) of the public finance of all provinces, autonomous regions, municipalities directly
under the Central Government and cities specially designated in the state plan, departments (entities) directly under the Central
Government and relevant enterprises directly under the Central Government shall, on the basis of errorless examination and verification
of the data of statements of enterprises abroad under their jurisdiction, submit one copy of the following materials to the Enterprise
Department of the Ministry of Finance before July 31, 2007. Enterprises directly under the Central Government shall, while submitting
this set of statements to the Ministry of Finance, submit another copy to the State-owned Assets Supervision and Administration Commission
of the State Council. The specific contents to be submitted are listed as follows:

1.

Collective Accounting Statement (with “1000 U.S. dollars” as the unit of amount). It shall be bound in order of the statement cover,
the tree derivation of enterprises within the scope of compilation (not required of local enterprises), the main form, the attached
table, the table of basic conditions of enterprises abroad, the analytical statement of changes of the number of enterprises within
the scope of compilation. Signature and official seal shall be essential herein.

2.

Notes to the Accounting Statements. See Appendix 3 for details, concrete contents and requirements thereof.

3.

Directions of Financial Conditions, which mainly include the following contents:

(1)

The scope of consolidation or collection of accounting statements of enterprises abroad, the changes of the number of enterprises
in the year 2006 and the causes thereof;

(2)

The basic conditions of production and operation of enterprises abroad;

(3)

The realization and distribution of profits;

(4)

The increase and decrease and turnover of capital;

(5)

Brief analysis of the assets quality of enterprise abroad, such as analysis of the age of accounts receivable and analysis of income
from investment.

(6)

Significant financial transactions of enterprises abroad such as heavy losses of assets, the tendering of external guarantee, transactions
involving unsettled lawsuits and arbitration, mortgage of property and risk businesses beyond the authorized scope of business.

(7)

The tax policy and adjustment of tax payment of the country (region) where the enterprise abroad locates, and

(8)

Other transactions that have significant influences on the financial conditions, operational results and cash flow of the enterprise
as well as other matters that need elaboration and reflection.

4.

Soft disks of collective data and separate data for each enterprise (with U.S. dollar as the unit of amount).

VI.

The software of data processing of the Final Financial and Accounting Statements of Enterprises Abroad for the Year 2006 shall be
separately distributed later.

All entities and regions, where any question emerges in the process of the formulation and submission of the statements, shall contact
the Enterprise Department of the Ministry of Finance in a timely manner.

Appendix:

(1)

Final Financial and Accounting Statements of Enterprises Abroad for the Year 2006 (Omitted)

(2)

Descriptions to the Formulation of Final Financial and Accounting Statements of Enterprises Abroad for the Year 2006 (Omitted)

(3)

Synopsis of the Notes to the Accounting Statements (Omitted)

The Ministry of Finance of the People’s Republic of China

September 30, 2006



 
The Ministry of Finance
2006-09-30

 






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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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