INTERIM MEASURES CONCERNING THE OVERSEA COMMERCIAL COMPLAINT SERVICES FOR CHINESE ENTERPRISES

Order of the Ministry of Commerce of People’s Republic of China

No. 16

The Interim Measures concerning the Oversea Commercial Complaint Services for Chinese Enterprises, which has been deliberated and
adopted at the 7th executive meeting of the Ministry of Commerce on July 13, 2006, is hereby promulgated and shall come into force
as of the day of its promulgation.
Bo Xilai, the Minister of the Ministry of Commerce

August 16, 2006

Interim Measures concerning the Oversea Commercial Complaint Services for Chinese Enterprises
Chapter I General Provisions

Article 1

With a view to safeguarding and promoting the fair and justifiable oversea commercial activities of Chinese enterprises and maintaining
the legitimate rights and interests of Chinese enterprises, the present Measures are formulated according to the Foreign Trade Law
of the People’s Republic of China, the relevant laws, administrative regulations and provisions.

Article 2

The Oversea Commercial Complaint Service Center for Chinese Enterprises of the Ministry of Commerce (hereinafter referred to as the
Complaint Service Center) shall, in accordance with the present Measures, be responsible for freely providing oversea commercial
complaint services for Chinese enterprises, and shall be funded by the government.

The Complaint Service Center shall be provided with a legal person qualification, and assume independent liabilities for its acts.

Article 3

The “oversea commercial complaint services for Chinese enterprises” as mentioned in the present Measures refer to the services, under
which any service claimant in line with the present Measures reflects relevant information, requests for providing policy information
services or legal consulting services, or requests for coordination and resolution when it considers that its legitimate rights and
interests are damaged or illegally infringed on or may be damaged or illegally infringed on, and the Complaint Service Center coordinates,
resolves and gives a reply.

Article 4

The service claimant shall, following the principles of faithfulness, free will and legality and in accordance with the present Measures,
faithfully provide relevant information according to the facts and provide active assistance to the relevant work of the Complaint
Service Center.

Chapter II Service Claimants and Service Items

Article 5

The “service claimants” as mentioned in the present Measures shall include:

(1)

legal persons, other organizations or individuals that engage in foreign trade in accordance with the Foreign Trade Law of the People’s
Republic of China; and

(2)

Chinese investors engaging in oversea investment according to law.

Article 6

The scope of oversea commercial complaint services to Chinese enterprises shall include:

(1)

import and export of goods;

(2)

import and export of technologies;

(3)

international service trade;

(4)

intellectual property related to foreign trade;

(5)

foreign labor cooperation;

(6)

foreign project contracting;

(7)

oversea investment; and

(8)

other oversea commercial activities.

The oversea commercial complaint services to Chinese enterprises may not include the matters under the jurisdiction of diplomatic
and consular personnel.

Chapter III Complaint Service Center

Article 7

The service items and main responsibilities of the Complaint Service Center shall include:

(1)

providing policy information services within its power so as to reduce the risks that legitimate rights and interests of domestic
enterprises or individuals may be damaged or illegally infringed upon in the oversea commercial activities;

(2)

providing consulting services aiming at common civil and commercial legal disputes;

(3)

accepting the complaints aiming at unfair policies, measures or market barriers of foreign governments or organizations, and then
requesting the relevant departments of the government for intervention and consultation by way of bilateral and multilateral mechanisms,
or resorting to the relevant dispute resolution mechanisms and promoting the solution of problems;

(4)

examining, registering, sorting out, preliminarily analyzing and processing the service requests that meet the prescribed procedures
and conditions according to the present Measures;

(5)

submitting the service requests it has accepted to the relevant party for verification and processing, and conducting follow-up inquiry,
coordination and urgency according to the present Measures;

(6)

feeding back the relevant proceeds or results to the service claimants within the time limit as prescribed in the present Measures;

(7)

analyzing and sorting out the conditions on service requests, and regularly promulgating the analysis reports;

(8)

reporting important sensitive cases or general problems to the relevant departments of the government, and bringing forward suggestions;

(9)

providing legal assistance to the relevant departments of the government;

(10)

establishing and administrating the database of specially invited experts and legal consultants;

(11)

transacting other matters related to the oversea commercial complaint services to Chinese enterprises upon the authorization of the
Ministry of Commerce; and

(12)

undertaking other work directly related to the disposal of service requests.

Article 8

The Complaint Service Center shall establish an emergency treatment mechanism for important events, and incorporate it into the emergency
treatment management system of the Ministry of Commerce.

The “emergency” as mentioned in the present Measures refers to the events that have incurred serious damages and are of broad coverage
or widely concerned about by the general public.

Article 9

The functionaries of the Complaint Service Center shall be familiar with the legal system on foreign economy and trade and the rules
for international economy and trade, keep diligent and faithful, and timely and properly coordinate and transact the service items.

Article 10

The Complaint Service Center and its functionaries shall keep confidential of the business secrets of the service claimants they
have had access to in their work, except the special circumstances as prescribed in the laws or administrative regulations.

Chapter IV Submission of Service Requests

Article 11

The service claimant may forward relevant service requests to the Complaint Service Center through the following means:

(1)

entering the website of 12335.mofcom.gov.cn;

(2)

dialing the hot line of the Complaint Service Center by 12335;

(3)

sending faxes by 12335;

(4)

mailing letters; and

(5)

visits and talks face to face.

Article 12

To request for providing policy information services, a service claimant shall submit the following materials:

(1)

Materials explaining the basic information on the service claimant

If the service claimant is an individual, the name, the name and number of identification certificate, domicile, zip code, contact
phone number of the service claimant as well as the relevant documents proving that the service claimant complies with Article 5
of the present Measures shall be provided;

If the service claimant is a legal person or an organization, the name, code, domicile, zip code, legal representative (or main principal),
contact phone of the service claimant as well as the relevant documents proving that the service claimant complies with Article 5
of the present Measures shall be provided.

(2)

The policy information items that are clearly requested to be submitted; and

(3)

Other materials as required by the Complaint Service Center for providing policy information services.

Article 13

To request for providing consulting services for common civil and commercial legal disputes, a service claimant shall submit the
following materials:

(1)

Materials explaining the basic information on the service claimant

If the service claimant is an individual, the name, the name and number of identification certificate, domicile, zip code, and contact
phone number of the service claimant as well as the relevant documents proving that the service claimant complies with Article 5
of the present Measures shall be provided;

If the service claimant is a legal person or an organization, the name, code, domicile, zip code, legal representative (or main principal),
and contact phone of the service claimant as well as the relevant documents proving that the service claimant complies with Article
5 of the present Measures shall be provided.

(2)

Case summary, including the brief information on all the parties concerned, the country (or region), cause of action, subject of
dispute, and proceeding of the case, etc.;

(3)

Relevant certification materials;

(4)

Matters for which consultancy is clearly requested; and

(5)

Other materials as required by the Complaint Service Center for providing consulting services.

Article 14

To complain about the unfair policies, measures or market barriers of any foreign government or organization, a service claimant
shall submit the following materials:

(1)

Materials explaining the basic information on the service claimant

(2)

Basic information on the party against whom the complaint is made, as well as the name, domicile, zip code, contact person and contact
phone and etc. of the oversea government or organization being complained about;

(3)

Policies, measures or market barriers being complained and relevant certification materials;

(4)

Facts (time, place, course, degree, etc.) that the legitimate rights and interests of the complainant are damaged or illegally infringed
upon by the policies, measures or market barriers being complained about, or the possibility analysis that the legitimate rights
and interests of the complainant may be damaged or illegally infringed upon;

(5)

Clear and concrete claims; and

(6)

Other materials as required by the Complaint Service Center for providing consulting services.

The service claimant shall indicate whether or not it allows the department of the government to use its true name or the relevant
materials it provides during the course of negotiation with foreign parties.

Article 15

The materials a service claimant submits shall be written in Chinese.

Chapter V Disposal of Service Requests

Article 16

After the Complaint Service Center receives a service request, it shall examine it within 10 working days, and respectively process
it in light of the following conditions:

(1)

If the service request meets the conditions for acceptance, the Complaint Service Center shall accept it and send out a notice on
acceptance to the service claimant;

(2)

If the service request does not meet the conditions for acceptance, the Complaint Service Center shall send out a notice on refusal
of acceptance, and explain the reasons for the refusal; and

(3)

If the materials need to be supplemented or improved, the Complaint Service Center shall inform the service claimant to do that.

Article 17

The requests that the Complaint Service Center may not accept shall include:

(1)

where the subject qualification of the service claimant does not meet Article 5 of the present Measures;

(2)

where the request is not within the scope of complaint services as prescribed in Article 6 of the present Measures;

(3)

where there is no clear service request item;

(4)

where the service claimant can not provide the materials as prescribed in Items (2) and (3) of Article 13 or Items (3) and (4) of
Article 14 ;

(5)

where the service request is brought forward anonymously;

(6)

where the service request has been or is being accepted by the Complaint Service Center;

(7)

where the service claimant does not provide any new material, but brings forward another request for the matter that has been disposed
by the Complaint Service Center;

(8)

where the service request shall be accepted by the Complaint Center for Foreign-funded Enterprises;

(9)

where the service request shall be accepted by the Complaint Center for Laborers Assigned by China to oversea;

(10)

where the court or arbitral institution within the territory of China has accepted the service request or has rendered a ruling on
it; and

(11)

other service requests that do not comply with the relevant laws or administrative regulations.

Article 18

As to a request for providing policy information services, the Complaint Service Center shall give a reply within 10 working days
upon acceptance.

Article 19

As to a request for providing consulting services for common civil and commercial legal disputes, the Complaint Service Center shall
give a reply within 20 working days upon acceptance.

Article 20

As to a complaint on unfair policies, measures or market barriers of any foreign government or organization, the Complaint Service
Center shall forward it to the Ministry of Commerce for disposal within 3 working days as of acceptance, and notify the conditions
of forwarding the complaint to the service claimant.

Article 21

After the Complaint Service Center solicits the consent of the service claimant, it may forward the complaint consulting contents
to the relevant trade committee or association for reference.

Article 22

Under any of the following circumstances, the service request shall be regarded as having been terminated:

(1)

It has been disposed according to Articles 18, 19 and 20;

(2)

It is found upon verification that the service request does not comply with the facts;

(3)

The service claimant does not offer coordination and refuses to provide authentic information;

(4)

The service claimant applies for revoking the request; and

(5)

Other circumstances under which the request shall be regarded as having been terminated.

After a complaint is terminated, the Complaint Service Center shall timely make registration of the settlement.

Chapter VI Information Management, Statistic Submission and Issuance

Article 23

The Complaint Service Center shall analyze and sort out the data on service requests, and issue analysis reports on the website or
prints every quarter.

Article 24

The Complaint Service Center shall make registration in light of the prescribed format, try to use formatted documents for accepting
and forwarding complaints, notices, replies and etc, and attach the seal of the Complaint Service Center or the special complaint
seal.

Article 25

The relevant materials on service requests as accepted by the Complaint Service Center shall be classified and numbered by schedule,
be bound and put on archives, be kept by special persons and be recorded into the electronic processing system for service requests
of the Complaint Service Center. Without the approval of the relevant person-in-charge, and the foresaid materials may not be lent
out to any other person or be consulted, and shall be kept generally for 3 years. The archival filing period for important archives
shall be properly prolonged.

Chapter VII Supplementary Provisions

Article 26

The power to interpret the present Measures shall remain with the Ministry of Commerce.

Article 27

The present Measures shall come into force as of the day of its promulgation.

Ministry of Commerce
2006-08-16

MINISTRY OF COMMERCE ANNOUNCEMENT NO.65, 2006, ON ARBITRATION OF MIDTERM REVIEW ON ANTI-DUMPING OF STYRENE-BUTADIENE RUBBER (SBR) ORIGINATING FROM RUSSIAN

Ministry of Commerce Announcement No.65, 2006, on Arbitration of Midterm Review on Anti-dumping of Styrene-butadiene Rubber (SBR)
Originating from Russian

No.65 [2006]

Ministry of Commerce released announcement No. 49, 2003 on Sep 9, 2003, deciding to impose anti-dumping duty on SBR originating from
Russia, the Republic of Korea and Japan. The anti-dumping duty rate on Togliatti Kauchuk Ltd. was stipulated to be 25 percent and
the anti-dumping duty rate on Voronezhsintezkauchuk was stipulated to be 38 percent.

Togliatti Kauchuk Ltd. and Voronezhsintezkauchuk submitted applications to Ministry of Commerce on Oct 9, 2005 for midterm review
of dumping and dumping profit margin and provided related supplementary materials in accordance with relevant requirements.

In accordance with preliminary evidences, Ministry of Commerce release announcement of case registration on Dec 6, 2005, deciding
to carry out midterm review of dumping and dumping profit margin on SBR anti-dumping measures applied to Togliatti Kauchuk Ltd. and
Voronezhsintezkauchuk. The investigation scope included normal value, export price and dumping profit margin of the investigated
commodity, the tariff numbers of which were 40021911, 40021912 and 40021919.

In accordance related regulations of article 50 of Anti-dumping Regulations of the People’s Republic of China, Provisional Regulations
of Midterm Review of Dumping and Dumping Profit Margin of Ministry of Commerce and decisions of Tariff Committee of the State Council,
related matters are now announced as follows:

the anti-dumping tax rates of Togliatti Kauchuk Ltd and Voronezhsintezkauchuk are adjusted to be 6.8 percent and 4.02 percent.

As from Aug 22, 2006, importers shall pay anti-dumping duties in line with the adjusted tax rates for importing SBR originating from
Russia and produced by the companies of Togliatti Kauchuk Ltd and Voronezhsintezkauchuk.

The decision takes effect as from Aug 22, 2006.

Appendix: Ministry of Commerce Arbitration of Midterm Review on Styrene-butadiene rubber (SBR) Originating from Russia. (omitted)

Ministry of Commerce

Aug 22, 2006

Ministry of Commerce
2006-08-22

CIRCULAR OF THE PEOPLE’S BANK OF CHINA AND CHINA SECURITIES REGULATORY COMMISSION CONCERNING TRANSFERRING THE RELOANS FOR THE RISK DISPOSAL OF SECURITIES COMPANIES TO CHINA SECURITIES INVESTOR PROTECTION FUNDS LIMITED LIABILITY COMPANY

Circular of the People’s Bank of China and China Securities Regulatory Commission concerning Transferring the Reloans for the Risk
Disposal of Securities Companies to China Securities Investor Protection Funds Limited Liability Company

Yin Fa [2006] No. 301

Shanghai Headquarters of the People’s Bank of China, branches and business management departments of Guangzhou and Wuhan, as well
as the central sub-branches of the People’s Bank of China in Zhengzhou, Fuzhou and Shenzhen; the Securities Regulatory Bureaus of
Beijing, Shanghai, Guangdong, Hubei, Henan, Fujian and Shenzhen as well as the China Securities Investor Protection Funds Limited
Liability Company; the clearing (trust) institutions of D’Hong Securities Company, Hengxin Securities Company, Hantang Securities
Company, China Eagle Securities Company, Asia Securities Company, China Northern Securities Company, China Southern Securities Company,
MF Securities Company, Wuzhou Securities Company, Min’an Securities Company, and Wuhan Securities Company:

During the recent years, for the purpose of cooperating with the disposal of securities companies with high risk, maintaining the
stability of the securities market and the society, the People’s Bank of China has, upon the approval of the State Council, extended
reloans for the financial stability, which is used to make up the gap of the settlement funds of customer securities trading and
to purchase individual credit rights. At present, the China Securities Investor Protection Funds Limited Liability Company (hereafter
referred to as the Protection Funds Company) has been set up. In order to further smooth the relations of the extending of reloans
to the securities companies for risk disposal, the Headquarter of the People’s Bank of China has decided to uniformly modify the
risk disposal reloans which was extended by Shanghai Head Office and other related branches and sub-branches of the People’s Bank
of China to the disposed trust and clearing institutions of securities companies before the foundation of the Protection Funds Company
into that extended by the Business Management Department of the People’s Bank of China (hereafter referred to as the Business Management
Department) to the Protection Funds Company. Hereby related issues are noticed as follows:

After transferring the reloans, the borrower of the reloans shall be modified from the trust and clearing institutions of disposed
securities companies into the Protection Funds Company; and the lender shall be modified from Shanghai Head Office and other related
branches and sub-branches of the People’s Bank of China into the Business Management Department.

The extended quotas shall be distributed by the Headquarters of the People’s Bank of China to the Business Management Department (which
shall be the actually extended amount within the quotas approved by the State Council); after signing an agreement concerning the
extending of reloans with the Protection Funds Company, the Business Management Department shall extend the sum of reloans to the
Protection Funds Company; the Protection Funds Company shall sign an “Agreement concerning the Transferring of Reloans To the Securities
Company for Risk Disposal” jointly with the other four parties, namely , Shanghai Head Office or other branches concerned of the
People’s Bank of China, Business Management Department, the trust and clearing institution of the disposed securities company, and
the regulatory department, and repay the reloans of Shanghai Head Office or other branches concerned of the People’s Bank of China
on behalf of the trust and clearing institution, while the borrower of all the reloans shall be changed from the trust and clearing
institution into the Protection Funds Company; and the Headquarters of the People’s Bank of China shall withdraw all the quotas from
Shanghai Head Office and other branches concerned of the People’s Bank of China for the extending of reloans to securities companies
for risk disposal.

All the obligations of repaying the interest of reloans owed by trust and clearing institutions to Shanghai Head Office and other
branches concerned of the People’s Bank of China shall be undertaken by the Protection Funds Company, whether it is spot interest
payable or off-balance-sheet accrued interest receivable. On the date of transferring the reloans, Shanghai Head Office or any other
branches concerned of the People’s Bank of China shall provide a list of spot interest payable and off-balance-sheet accrued interest
receivable of each sum of reloan by the date of transfer to Business Management Department, and shall write off the off-balance-sheet
accrued interest receivable. After receiving the list of interest, the Business Management Department shall open an off-balance-sheet
account to make accurate reckoning of the accrued interest receivable of each sum of reloan. Subject to the principles of “separating
old reloans from new ones and calculating interest separately”, the extended reloans shall be applied to the contractual interest
rate and to those reloans not yet granted, the interest rate shall be more preferential with 165 basic points than the annual interest
rate of the reloans extended by the People’s Bank of China to financial institutions.

The transferring work shall be carried out by batches according to the number of the disposed institutions. The transferring procedures
for each disposed institution shall be accomplished within one day (the date of transferring reloans for each disposed institution
shall be notified separately). The Protection Funds Company shall open a special account of reloan funds in the Business Management
Department before the date of transfer.

On the date of transfer, the accounting of the reloans extended by the Business Management Department to the Protection Funds Company
shall be treated as:

Debit: Loan of other financial institutions – account of the China Securities Investor Protection Funds

Credit: Other deposits- account of the China Securities Investor Protection Funds

At the same time, the Protection Funds Company shall transfer the related money to Shanghai Head Office or other branches concerned
of the People’s Bank of China, and repay the reloans on behalf of the trust and clearing institution. The accounting of the Business
Management Department shall be treated as:

Debit: Other deposits – account of the China Securities Investor Protection Funds

Credit: Large-sum current payments

Receive: Accrued interest receivable – account of the China Securities Investor Protection Funds

The accounting of the money received by Shanghai Head Office or the branches concerned shall be treated as:

Debit: Large-sum current payments

Credit: Reserve deposits of other financial institutions – account of the trust and clearing institution ______ (named)

Debit: Reserve deposits of other financial institutions – account of the trust and clearing institution ______ (named)

Credit: Loan of other financial institutions – account of the trust and clearing institution ______ (named)

Pay: Accrued interest receivable – account of the trust and clearing institution ______ (named)

The accounting treatment of the Protection Funds Company shall be reflected as the increase of debts to the Business Management Department,
and increase of credits over the trust and clearing institution simultaneously.

After transferring a certain sum of reloan, the original copies of related materials shall be kept appropriately in archives by Shanghai
Head Office or the branches concerned of the People’s Bank of China. Shanghai Head Office or the branches concerned of the People’s
Bank of China shall turn over the photocopies of the related materials to the Protection Funds Company, and a list of the materials
shall be attached. When transferring, both parties shall sign and confirm the list of transfer. The list of transfer shall be in
duplicate, and either party shall keep one. When the Protection Funds Company needs to use the original copies of related materials
for declaring credit rights to the bankruptcy court, Shanghai Head Office or the branches concerned of the People’s Bank of China
shall cooperate with them.

Where the China Security Regulatory Commission has already submitted an application of reloan before May 31, 2006 to the People’s
Bank of China, the procedures for the transferring reloans to a certain disposed securities company may not be handled until the
People’s Bank of China has examined and extended the said applications.

All units must do a good job in preparing all related items prior to the date of transfer. The related units shall strengthen coordination,
make close cooperation, and do a good job in smoothing over all stages of the transfer.

The Business Management Department shall be responsible for determining the date of transferring the reloans to each institution,
then report to the Headquarters in time, and do a good job in organization and coordination. If there is any question, please contact
the Headquarters in time.

Appendixes:

Statistical Statement of the Transferable Reloans To Securities Companies for Risk Disposal

Agreement concerning Transferring the Reloans To the Securities Company for Risk Disposal (Template)

The People’s Bank of China

China Securities Regulatory Commission

August 28, 2006

Notes

Appendix 1:

Statistical
Statement of the Transferable Reloans To Securities Companies for Risk Disposal

Unit: CNY
100 million

Sequential No.	Reloans Management Entity	Securities Companies under Disposal	Quota of Reloans Approved by the State Council (CNY 100 million)	Amount of Granted Reloans (CNY 100 million)	Remaining Reloans (CNY 100 million)	Remarks
1	The Business Management Department of the People’s Bank of China	Hantang Securities	27.24	17.63	9.61	Transfer postponed
		D’Hong Securities	21.62	4.89	16.73	Transfer postponed
		Hengxin Securities	2.09	0.45	1.64	Transfer postponed
		China-fortune Securities	3.75	0.04	3.71	Transferred
		China Eagle Securities	22.21	15.24	6.97	Transfer postponed
2	Shanghai Branch	Asia Securities	39.14	19.75	19.39	Transferred
2	Shanghai Branch	Northern Securities	13.03	7.00	6.03	Transfer postponed.
3	Shenzhen Central Sub-branch	China Southern Securities	83.38	68.04	15.34	Transfer postponed
4	Fuzhou Central Sub-branch	MF Securities	21.04	8.02	13.02	Transferred
5	Zhengzhou Central Sub-branch	Wuzhou Securities	4.23	2.95	1.28	Transferred
6	Guangzhou Branch	Min’an Securities	6.66	4.00	2.66	Transferred
7	Wuhan Branch	Wuhan Securities	5.89		5.89	Transferred
	Total	11	250.28	148.01	102.27

Notes:
1. The aforesaid amounts (two digits following the radix point shall be
reserved after the figure is rounded) are only for reference,
and the actually granted amounts shall prevail when transferring.

2. The extending of reloans of the five companies under
“postponed transfer” may not be transferred until the matters listed in
“VI” of the
“Notice” have been finished.

3. The transfer of reloans to China Southern Securities shall be determined by the
People’s Bank of China with consulting the CSRC.

Appendix 2:

Agreement concerning Transferring the Reloans To Securities Company for Risk Disposal (Template)

Party A: Shanghai Head Office or the branch of the
People’s Bank of China (lender under the former contract)

Party B: Trust and Clearing Institution of ______ Securities Company (borrower under the former contract)

Party C: China Securities Investor Protection Fund Limited Liability Company

Party D: Business Management Department of the
People’s Bank of China

Party E: ______
(Commissioners’ Office or Bureau) of China Securities Regulatory Commission

In accordance with the
“Notice of the People’s Bank of China on Transferring Reloans To Securities Companies for Risk Disposal
to China Securities Investor Protection Fund Limited Liability
Company” (No. 301 [2006], shortened as the “Notice” hereafter),
and for the purpose of further clarifying the borrowers of the reloans to the securities companies for risk disposal (shortened as

“reloans” hereafter), straightening out the credit-debt relationships of the ranting of reloans, and guaranteeing the smooth transfer
of the reloans used for the disposal of ______ Securities Limited Liability Company (shortened as
“______ Securities” hereafter),
after joint negotiations between five parties (shortened as
“this Agreement” hereafter), this Agreement on the Transfer of Reloans
is hereby concluded.

Transfer of reloans shall mean that, before the establishment of the China Securities Investor Protection Fund Limited Liability Company
(hereafter shortened as the Protection Fund Company), Shanghai Head Office or the branch of the
People’s Bank of China shall uniformly
modify the reloans granted to the trust and clearing institutions of disposed securities companies for risk disposal into that granted
by Business Management Department of the
People’s Bank of China to the Protection Fund Company, while Shanghai Head Office or the
branch concerned of the
People’s Bank of China shall demise the rights and obligations over the credits of the aforesaid reloans
to the Protection Fund Company in accordance with law.

The duties of all parties in the process of transfer of the reloans and after the transfer are defined by this Agreement as follows:

1. The borrower under either the framework agreement on the extending of reloans or each reloan contract as concluded between Party
A, Party B and Party E before the conclusion of this Agreement shall be modified from Party B into Party C, and at the same time
the lender shall be modified from Party A into Party D.

2. The sum of reloans borrowed by Party B under all previous loan contracts is CNY ______. By ____ (date), 2006 (date of handover),
CNY ______ has been allotted and used actually (among this sum, CNY ______ of acquisition funds to be raised by the Central Government
at the prescribed proportion and to be used to acquire the individual credits of ______Securities is paid on its behalf in advance,
and CNY ______ is used to replenish the shortage of customer securities trading settlement funds); the immediate interest payable
is CNY ______, and the off-balance-sheet accrued interest receivable is CNY ______.

3. After transfer of the reloans, Party D and Party C shall set up a new credit-debt relationship on the granting of reloans, Party
A shall demise all its previous credit-based rights over Party B regarding the granting of reloans to Party C in accordance with
law, and a credit-debt relationship shall be set up between Party C and Party B .

4. The reloans interest owed by Party B to Party A shall all be transferred along with the principal of the reloans, and shall be
recovered by Party D, no matter whether it is immediate interest payable or off-balance-sheet accrued interest receivable.

5. After the reloans are transferred, the original copies of related materials shall be kept in custody by Party A appropriately in
archives, and the photocopies shall, after both parties have signed and confirmed the handover list, be handed over by Party A in
earnest time to Party C. When Party C needs to use the original copies of related materials for reporting credits to the bankruptcy
court, Party A shall provide them.

6. With regard to the problems arising out of the granting of reloans before the conclusion of this Agreement, Party C may not undertake
any liability.

7. The matter under other clauses of the framework agreement on the extending of reloans or each loan contract that is concluded between
Party A, Party B and Party E before the conclusion of this Agreement and the related rights and obligations shall be agreed upon
between the modified Party D, Party C and Party E in the new agreement after the transfer of reloans, if previously enjoyed or assumed
by Party A, Party B or Party E.

8. For the purpose of guaranteeing the work of reloans transfer to be conducted and completed smoothly, Party A and Party B shall
cooperate with Party D and Party C in doing well the necessary work for the reloans transfer.

9. Party A shall make related accounting treatment in light of a photocopy of the
“Notice” and a photocopy of this Agreement that
has come into effect upon affixation with each
party’s seal. Upon the strength of a photocopy of the “Notice”, a photocopy of this
Agreement effective upon affixation with each
party’s seal, as well as a list of all sums of lending and a list of detailed interest
as provided by Party A, Party C and Party D shall make related accounting treatment.

10. In supervising the safe and lawful use of reloans by the trust and clearing institution, Party E shall cooperate with Party C
and the on-site working team of the securities company.

11. This Agreement may not become effective until being signed by the five parties. Other matters that are not yet stipulated herein
shall be settled by the five parties through negotiation in accordance with the presently applicable laws and regulations of the
state as well as related provisions of the State Council and those of the related ministries and commissions.

12. This Agreement shall be in septuplicate. Party A, Party B, Party C, Party D, Party E, the Financial Stability Office of the
People’s Bank of China and the Securities Company Risk Disposal Office of CSRC shall keep one copy respectively.

Party A: Shanghai Head Office or the branch concerned of the
People’s Bank of China (Seal)

Signatory: _____ (Month) ______ (Date) ____(

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE AND MINISTRY OF CONSTRUCTION ON RELEVANT ISSUES CONCERNING REGULATING THE ADMINISTRATION OF FOREIGN EXCHANGE IN REAL ESTATE MARKET

Circular of the State Administration of Foreign Exchange and Ministry of Construction on Relevant Issues concerning Regulating the
Administration of Foreign Exchange in Real Estate Market

Hui Fa [2006] No. 47

The branches of the State Administration of Foreign Exchange and the foreign exchange administrative departments in each province,
autonomous region, and municipality directly under the Central Government, the branches of the State Administration of Foreign Exchange
in Shenzhen, Dalian, Qingdao, Xiamen, Ningbo, the construction departments in each province and autonomous region, the bureaus of
houses, land and resources (construction commissions) in each municipality directly under the Central Government, head offices of
all designated Chinese-funded foreign exchange banks,

In order to implement the Opinions concerning Regulating the Admission and Administration of Foreign Investments to the Real Estate
Market issued by the Ministry of Construction and the other five ministries and commissions (Jian Zhu Fang [2006] No. 171) and
improve the healthy development of the real estate market, relevant issues of foreign exchange administration, the stipulations
concerning the regulation of admission and administration of foreign investments to the real estate market are hereby announced as
follows:

A branch or representative office established within the territory of China by a foreign institution (hereinafter referred to as
the “domestic branch or representative office”), when buying commercial houses for self use that meet its actual needs in the place
of registration , shall be subject to the following stipulations:

(1)

If the money for house purchasing is remitted from abroad, it shall apply to the designated foreign exchange bank with the following
documents. After the designated foreign exchange bank have examined and verified the authenticity of these documents , the money
for house purchasing may be directly transferred to the RMB account of the real estate development enterprise after it is settled.

(a)

The contract for the sale or advance sale of commercial housing,

(b)

The approval documents of the establishment of the domestic branch or representative office, and a valid registration certification
thereof,

(c)

Certifications of the registration and filing of the contract for the advance sale of commercial housing that this domestic branch
or representative office purchases in its registration place, as well as other relevant certifications issued by the real estate
administrative department, and

(d)

The written commitment that the commercial houses it purchases satisfy the principle of actual needs for self use.

A real restate development enterprise shall not keep the money, which is remitted from abroad to any domestic branch or representative
office for house purchasing., in the foreign current account.

(2)

If the money for house purchasing is paid from a foreign exchange account within China, an application shall be presented to the
designated bank of foreign exchange with all documents listed in Paragraph 1 of this Article. After the authenticity of the said
documents has been examined and verified by the designated foreign exchange bank, the money for house purchasing may be directly
transferred to the Renminbi account of the real estate development enterprise after it is settled. The fund in the current account
of a domestic representative office shall not be used to purchase any domestic commercial house after it is settled.

II.

A foreign individual that has worked or studied for more than one year within China is available to purchase a commercial house according
to his actual needs. He shall comply with the following stipulations:

(1)

If the money for house purchasing is remitted from abroad, he shall apply to the designated foreign exchange bank with the following
documents. After the designated foreign exchange bank has examined and verified the authenticity of these documents, the money for
house purchasing may be directly transferred to the RMBaccount of the real estate development enterprise after it is settled:

(a)

The contract for the sale or advance sale of commercial housing;

(b)

A valid passport and other identity certificates;

(c)

A valid employment contract or certificate for his status as a student for a period of one year or more within China;

(d)

Certifications of the registration and filing of the contract for the advance sale of commercial housing that this foreign individual
purchases in the city where he is located, as well as other certifications issued by the real estate administrative department.

A real restate development enterprise shall not keep the money for house purchasing, which is remitted from abroad to any foreign
individual , in the foreign exchange current account.

(2)

If the money for house purchasing is paid from a foreign exchange account within China, an application shall be presented to the
designated foreign exchange bank with all documents listed in Paragraph 1 of this Article. After the authenticity of the said documents
has been examined and verified by the designated foreign exchange bank, the money for house purchasing may be directly transferred
to the Renminbi account of the real estate development enterprise after it is settled.

III.

A Hong Kong, Macao or Taiwan resident or an overseas Chinese is available to purchase a certain area of commercial house within China
in line with his needs. He shall comply with the following stipulations:

(1)

If the money for house purchasing is remitted from abroad, he shall apply to the designated foreign exchange bank with the following
documents. After the authenticity of the said documents has been examined and verified by the designated foreign exchange bank, the
money for house purchasing may be directly transferred to the Renminbi account of the real estate development enterprise after it
is settled:

(a)

The contract for the sale or advance sale of commercial housing;

(b)

The Mainland Travel Permit for Taiwan, Hong Kong and Macao Residents, and other valid identity certificates;

(c)

(2)

If the money for house purchasing is paid from a foreign exchange account within China, an application shall be presented to the
designated foreign exchange bank with all documents listed in Paragraph 1 of this Article. After the authenticity of the said documents
has been examined and verified by the designated foreign exchange bank, the money for house purchasing may be directly transferred
to the RMB account of the real estate development enterprise after it is settled.

IV.

A domestic branch or representative office and foreign individual, which fails to complete the commercial housing business for any
reason and then need to remit abroad the Renminbi refund used to buy commercial housing after purchasing foreign exchange, shall
apply to the original designated foreign exchange bank with the following documents. After the authenticity of the said documents
has been examined and verified by the designated foreign exchange bank, the money for house purchasing in Renminbi and its interests
may be used to purchase foreign exchange and then be transferred to the foreign exchange account of the foreign institution or of
the foreign individual:

(a)

An application (including the reasons why the commercial housing business is not completed);

(b)

The voucher for the original foreign exchange settlement;

(c)

The certification document concerning the rescission of the contract for commercial housing business which is signed between the
real estate development enterprise and the domestic branch, representative office or foreign individual; and

(d)

The certification document concerning the cancellation of the commercial house purchasing by the domestic branch, representative office
or foreign individual, and other certifications issued by the real estate administrative department.

The RMB fund acquired by a domestic branch, representative office or foreign individual through selling domestic commercial housing
that it (he) purchases, after the branch of the State Administration of Foreign Exchange or foreign exchange administrative department
(hereinafter referred to as the foreign exchange bureau) has examined and verified the following documents, is available to be used
to purchase foreign exchange and then be remitted abroad.:

(a)

An application for purchasing foreign exchange;

(b)

A transfer contract for commercial housing; and

(c)

The certification documents concerning the tax payments for the transfer of house ownership.

VI.

If a foreign-funded real estate enterprise fails to pay all the registered capital,to acquire a Certificate for Using State-owned
Land, or to have its development project fund reach 35% of the total investments to the project, it shall not borrow any foreign
debt from abroad, nor shall the foreign exchange bureau implement the registration of its foreign debt or approve the conversion
of foreign debt into RMB.

VII.

Where an foreign institution or individual merges a real estate enterprise within China through equity transfer or any other ways
or acquires the equities of the Chinese party of an joint venture enterprise, if it (he) fails to pay the lump-sum money for transfer
with its internal capital, the foreign exchange bureau shall not implement the registration of foreign exchange income from transfer
of equities.

If the Chinese party or the foreign party of a foreign-funded real estate enterprise, in contract, articles, the entity transfer agreement
as well as other documents, make any promised articles concerning fixed return or fixed return in disguised form to any party,, the
foreign exchange bureau shall not implement the registration or alternation registration of foreign exchange of foreign-funded enterprise.

VIII.

The foreign institution or individual shall not use the fund in the special foreign exchange account which is established for foreign
investors in the bank within China to develop or manage the real estate business.

IX.

A designated foreign exchange bank shall, in accordance with the stipulations of this Circular, strictly examine and implement the
revenue and expenditure and conversion business of foreign exchange through the purchasing and sale of commercial housing within
China by domestic branches, representative offices and foreign individuals.

A designated foreign exchange bank shall, on a monthly basis, summarize the information about the revenue and expenditure, and conversion
business of foreign exchange through the purchasing and sale of commercial housing within China by domestic branches, representative
offices and foreign individuals and shall, before 10th day of each month, submit the relevant information of the last month, according
to the format in Annex 1, to the local foreign exchange bureau.

A foreign exchange bureau shall strengthen the statistical monitoring and supervisory administration of the revenue and expenditure,
and conversion business of foreign exchange through the purchasing and sale of commercial housing within China by domestic branches,
representative offices and foreign individuals and intensify the contact and communication with the local real estate administrative
department. Before the 15th day of each month, the foreign exchange bureau shall summarize and submit the relevant statistical data
of the last month in the areas that come under its jurisdiction to the State Administration of Foreign Exchange according to format
in Annex 2. If discovering any abnormal phenomenon or violation, the foreign exchange bureau shall investigate and report it in time
to the State Administration of Foreign Exchange.

A real estate administrative department shall be in strict accordance with the system for registration and filing of contracts for
the advance sale of commercial housing. Meanwhile, it shall enhance the coordination and collaboration between departments and shall
establish and perfect mechanisms for sharing the information about the real estate business relating to foreign investment and for
notifying other departments of the information.

XI.

If any designated foreign exchange bank, domestic branch, representative office or foreign individual violates this Circular, the
foreign exchange bureau shall punish it according to the Regulation of the People’s Republic of China on the Administration of Foreign
Exchange and other relevant stipulations.

A real estate administrative department shall implement the relevant laws, regulations and policies carefully, establish and perfect
a mechanism for the supervision and penalties for violations of laws and disciplines occurring in the real estate business and shall
seriously punish and investigate these violations.

XII.

This Circular shall come into force as of the date of promulgation. If there are any discrepancies between this Circular and past
rules and regulations, this Circular shall prevail. Before this Circular comes into force, if any domestic branch, representative
office or foreign individual has signed a contract for commercial housing, the foreign exchange matters related to the transfer of
commercial housing shall be dealt in line with the former regulations.

After receiving this Circular, each branch of the State Administration of Foreign Exchange or foreign exchange administrative department
shall timely transmit it to the central sub-branches or and foreign-funded banks in the area that come under its jurisdiction. After
receiving this Circular, the construction department of each province or autonomous region, or each bureau of houses, land and resources
(construction commission) of each municipality directly under the Central Government shall timely transmit the Circular to the real
estate administrative department. After each designated foreign exchange bank receives this Circular, it shall transmit the Circular
to its branches as soon as possible.

Annexes

1. Statistical Form for the Revenue and Expenditure, and Conversion Business of Foreign Exchange through the Purchasing and Sale of
Commercial Housing within China by Foreign Institutions and Individuals (for Banks)

2. Statistical Form for the Revenue and Expenditure, and Conversion Business of Foreign Exchange through the Purchasing and Sale of
Commercial Housing within China by Foreign Institutions and Individuals

(for Branches of the State Administration of Foreign Exchange)

State Administration of Foreign Exchange,

Ministry of Construction

September 1, 2006

State Administration of Foreign Exchange,Ministry of Construction
2006-09-01

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION CONCERNING PRINTING AND DISTRIBUTING THE PROTOCOL TO THE AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF MAURITIUS ON THE AVOIDANCE OF DOUBLE TAXATION AND GETTING PREPARED FOR ITS IMPLEMENTATION

Circular of the State Administration of Taxation concerning Printing and Distributing the Protocol to the Agreement between the Government
of the People’s Republic of China and the Government of the Republic of Mauritius on the Avoidance of Double Taxation and Getting
Prepared for Its Implementation

Guo Shui Han [2006] No. 833

The bureaus of state taxes and those of local taxes of each province, autonomous region, municipality directly under the Central Government,
and city specially designated in the state plan:

The Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income between the Chinese
Government and government of the Republic of Mauritius was formally subscribed by Xie Xuren, Director of the State Administration
of Taxation of China, and Mr. Paul R. Lit Fong Chong Leung, Ambassador of Mauritius to China, in Beijing on September 5, 2006. After
both contracting states have completed their respective legal procedures the Agreement shall be effective. The text of the Agreement
is hereby printed and distributed to you. Please prepare well before the carrying out of the Agreement.

Appendix: The Agreement between the Government of the People’s Republic of China and the Government of the Republic of Mauritius on
the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income

State Administration of Taxation

September 8th, 2006
Appendix:
The Agreement between the Government of the People’s Republic of China and the Government of the Republic of Mauritius concerning
the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income

The Government of the People’s Republic of China and the Government of the Republic of Mauritius, desiring to conclude a protocol
to make revision on the Agreement between the Government of the People’s Republic of China and the Government of the Republic of
Mauritius on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in respect of Taxes on Income (hereinafter referred
to as “Agreement”) concluded in Beijing on August 1, 1994, have agreed as follows:

Article 1 .

The following paragraph shall be added in Article 13 in the Agreement as Paragraph 5:

“5. The gains reaped by a resident of a contracting party out of transferring stocks, any other kind of interest in companies or other
rights held in a resident company of the other contracting party may be taxed in that other contracting state if the person has once
directly or indirectly participated in the ownership of at least 25% of the capital of this company within 12 months.”

Paragraph 5 in Article 13 of the original Agreement shall be canceled and taken place by the following Paragraph:

“6. The gains reaped out of the alienation of the properties except those as specified in paragraphs from 1 to 5 shall only be taxed
in the contracting state of which the alienator is a resident.”

Article 2 .

Article 26 of the original Agreement shall be canceled and taken place by the following Article:

“Article 26 Exchange of Information

The competent authorities of the contracting states shall exchange the intelligence which may be foreseen to be related with the carrying
out of the provisions of this Agreement or of the domestic laws concerning various kinds of taxes levied by the contracting states
or their local authorities, insofar as the taxation thereunder is not contrary to this Agreement. The exchange of intelligence shall
not be restricted by Article 1 and Article 2 .

Any intelligence received by a contracting state in accordance with Paragraph 1 shall be treated as secret in the same manner as intelligence
obtained according to the domestic laws of that contracting state and shall be informed only to the persons or authorities (including
courts and administrative departments) and their supervision departments concerning the assessment, collection, enforcement, prosecution
or appeal judgment of the taxation categories as indicated in Paragraph 1. Such persons or authorities shall use the intelligence
only as purposes like these, but may disclose the intelligence in public court proceedings or in court judgments.

The provisions of Paragraph 1 and Paragraph 2 shall be understood as imposing the following obligations on a contracting state on
no condition:

(1)

Administrative measures in violation of the laws and administrative practices of that or of the other contracting state should be
taken;

(2)

Providing intelligence that is not available according to the laws or through the normal administrative courses of that or of the
other contracting state;

(3)

Providing intelligence that would disclose any trade, business, industrial, commercial, or professional secret or trade process, or
any intelligence the disclosure of which would in violation of public policy (public order).

Where a contracting state requests for intelligence subject to the present Article, the other contracting party shall obtain the intelligence
requested in the manner of information acquisition, even the other contracting party may do not need such intelligence for the purposes
of taxation . The obligation defined in the front sentence shall be restricted by Paragraph 3, but the restriction shall be understood
on no condition as allowing a contracting state to refuse to provide such intelligence because it has no domestic benefits.

The provision of Paragraph 3 shall be understood on no condition as allowing a contracting state to refuse the provision of such intelligence
only because the intelligence is possessed by any bank, any other financial institution, designated representative, agent or trustee,
or because the intelligence in respect of people’s ownership equity.”

Article 3 .

The governments of the contracting states shall confirm the completion of their respective legal procedures which is indispensable
to entry into force of this Protocol through diplomatic exchange of letters. This Protocol shall go into effect as of the date a
later letter is sent, and shall apply to:

(1)

As regards China, the gains derived during the taxable years beginning on or after the first day of January of the next year following
the year in which the present Arrangement goes into effect;

(2)

As regards Mauritius, the gains derived during the taxable years beginning on or after the first day of July of the next year following
the year in which the present Arrangement goes into effect.

Article 4 .

This Protocol shall be valid permanently with the Agreement.

In witness whereof the undersigned, the following representatives, as officially authorized, have signed on this Protocol.

This Protocol was signed in Beijing on September 5, 2006. It is in duplicate and is written in Chinese and English. In case any divergence
as to the interpretation of the text arises, the English version shall prevail.

Government of People’s Republic of China Government of the (Representative)

Xie Xuren

Republic of Mauritius

(Representative)

Mr. Paul R. Lit Fong Chong Leung

State Administration of Taxation
2006-09-08

THE INTERIM MEASURES FOR THE ADMINISTRATION OF THE EXPORT OF TEXTILE PRODUCTS

Decree of the Ministry of Commerce

No. 21

The Interim Measures for the Administration of the Export of Textile Products have been deliberated and approved by the Ministry of
Commerce and agreed by the General Administration of Customs, General Administration of Quality Supervision , Inspection and Quarantine
and are hereby promulgated and shall come into effect as of the date of promulgation. The quotas of interim export of textile products
in 2006 shall be implemented in accordance with the Interim Measures for the Administration of Textile Products (Decree of the Ministry
of Commerce [2005] No.20). The Interim Measures for the Administration of Textile Products (the Ministry of Commerce shall be annulled
as of January 1, 2007.
Minister of the Ministry of Commerce: Bo Xilai

September 18, 2006

The Interim Measures for the Administration of the Export of Textile Products

Article 1

For the purpose of standardizing the export and operation order of textile products, the Measures herein are hereby formulated in
accordance with the Foreign Trade Law of the People’s Republic of China and the Administrative License Law of the People’s Republic
of China.

Article 2

The Ministry of Commerce shall be responsible for administrating of the export of national textiles and for cooperating with the
General Administration of Customs, the General Administration of Quality Supervision, Inspection and Quarantine to formulate and
adjusting the Catalogue of Commodities Subject to Interim Administration of the Export of Textile Products (hereinafter referred
to as “the Catalogue of Commodities Subject to Administration”).

The Catalogue of Commodities Subject to Administration shall be released by means of an announcement, and shall cover such contents
as the type, the number of tax regulations, and the country or region concerned, the time limit for the implementation, and the overall
licensed quantity of the products hereof.

Article 3

The Ministry of Commerce shall authorize the authority in charge of commerce of all provinces, autonomous regions, municipalities
directly under the Central Government, cities specifically designated in the state plan, Xinjiang Production and Construction Corps,
Harbin, Changchun, Shenyang, Nanjing, Wuhan, Chengdu, Guangzhou, and Xi’an (hereinafter referred to as “the local authorities in
charge of commerce”) to be responsible for administrating the interim export license of textile products).

The General Administration of Quality Supervision, Inspection and Quarantine shall, by referring to the advice of the Ministry of
Commerce, provisionally authorize the aforesaid authorities to be responsible for issuing the certification of the place of origin
of the textile products listed in the Catalogue of Commodities Subject to Administration.

Article 4

The export destination countries as mentioned herein refers to the ultimate destination countries (regions), and the countries involved
in processed trade export refers to the actual export countries with declaration. And the administration of entrepot trade shall
not be governed by the Measures herein.

Article 5

The Measures herein shall be applicable to the license administration of general trade, barter trade, processing and assembling trade,
bonded factory and other means of textile products export.

Where the textile products enter such special supervision zones of customs and bonded place as bonded area and export processing zone
from the outside zone within the territory of the People’s Republic of China and fall under the textile products listed in the Catalogue
of Commodities Subject to Supervision, the customs shall not examine and check the license hereof.

Where the textile products listed in the Catalogue of Commodities Subject to Administration are to be exported via the warehouses
under export supervision (export distribution warehouses), the customs shall check the license when the products are entered in the
warehouse and within the time limit (departure from the territory of the People’s Republic of China) as specified in the license,
the products shall be exported to the countries(regions) designated in the Catalogue of Commodities Subject to Administration and
shall not be remained within the territory of the People’s Republic of China.

Article 6

The textile products listed in the Catalogue of Commodities Subject to Administration shall be subject to interim export administration.
The Ministry of Commerce shall authorize the Quota & License Administrative Bureau to be responsible for consolidated administration
and guidance of the License of Interim Export of Textile Products( hereinafter referred to as “the License”) of the local authorities
in charge of commerce. The name list of the certificate authority, the form of the license and the stamp for special use shall be
otherwise promulgated by the Ministry of Commerce, the General Administration of Customs, and the General Administration of Quality
Supervision, Inspection and Quarantine.

Article 7

The foreign trade operators (hereinafter referred to as “the operators”) shall, prior to the export of the textile products listed
in the Catalogue of Commodities Subject to Supervision, handle the examination and approval procedures of interim export license
and withdraw the license in the local authorities in charge of commerce and handle the procedures of customs declaration, examination
and clearance formalities on the strength of the license.

Article 8

The commodities shall be listed in the Catalogue of Commodities Subject to Supervision in any of the following circumstances.

(1)

The relevant countries and regions set limit upon the textile products of the People’s Republic of China;

(2)

The textile products needed to be subject to the interim quantitative administration in accordance with the agreement made through
bilateral agreement.

Article 9

The interim export licensed quantity of the textile products listed in the Catalogue of the Commodities Subject to Administration
shall be allocated to all the operations by means of achievement distribution, the agreement of bid invitation. The detailed types
and quantity shall be otherwise promulgated by the Ministry of Commerce.

The achievement distribution shall be implemented in accordance with the Measures herein. The specific rules about the agreement of
bid invitation shall be otherwise announced by the Ministry of Commerce under the Measures herein.

Where such special situations occurs as volatile market change, the excessively low use rate of export licensed quantity or the chaotic
export order, the Ministry of Commerce may, in accordance with the proposal of textile export industry, adopt the interim measures
except Article 1 herein to restore the normal export order.

Article 10

The operation shall, in accordance with the relevant national labor, safety, and environmental protection laws and rules, conduct
the operational activities.

As for the operators confirmed by the relevant sectors and yet fail to fulfill the obligations of labor, security and environmental
protection, the Ministry of Commerce may abrogate the qualification the interim export licensed quantity herein obtained in accordance
with Article 9 herein and withdraw all the licensed quantity.

Article 11

The achievement distribution part shall be based upon the actual export achievement of the relevant commodities, and the applicable
amount with the interim export license (hereinafter referred to as “the applicable volume”) subject to the actual achievement of
customs export shall be determined in accordance with the following formula:

STc70%1/M1+30%2/M2

Where

(1)

S stands for the applicable volume;

(2)

T stands for the confirmed national total volume of temporary export licenses;

(3)

Q1 stands for the export performance of an operator to a restricting country (region). Q2 stands for the export performance of an
operator to all other countries and regions except the restricted ones (Q1);

(4)

M1 stands for the export performance of all operators of the country to the restricting countries (regions); M2 stands for the export
performance of all operators to the whole world (Q1except the restricted countries(regions);

(5)

The minimum applicable amount of all types of commodities shall be otherwise promulgated by the Ministry of Commerce. Where the applicable
amount calculated in accordance with the aforesaid formula is lower than the minimum applicable amount, the applicable amount of
the operator shall be zero;

(6)

The surplus amount lower than the minimum amount shall be allocated completely in accordance with the principle of priority of achievement.

Article 12

The Ministry of Commerce shall, in accordance with the following principles, determine the export achievement of the relevant commodities:

(1)

The export statistics subject to the 10-digit tariff line of China’s customs;

(2)

The time of statistics is the 12 months prior to the interim export license amount;

(3)

The export achievement of general trade, processing trade shall be calculated pursuant to 100% of the statistic export sum of China’s
customs;

(4)

The export achievement of the enterprises in western region of China shall be calculated in accordance with 150% of the statistical
export volume of China’s customs, the middle region and the enterprises in the northeast old industrial base shall be calculated
in accordance with 130% of the statistical export volume of Chinese customs;

(5)

The group enterprises with many subsidiaries and branches or holding company shall, in accordance with the actual amount of the operators
(the code of customs enterprises) and the amount of interim export license shall be calculated under the name of various operators.

Article 13

The Ministry of Commerce shall, in accordance with the aforesaid distribution principle, determine the types and amounts of the applicable
amount of various operators and distribute to the local authorities in charge of commerce by means of batches and the electronic
form and publish it in the website of the Ministry of Commerce.

Article 14

The operators shall, within the applicable types and amounts delivered by the Ministry of Commerce, raise the license amount application
with the local authorities in charge of commerce.

Article 15

The local authorities in charge of commerce shall, within 15 days as of the receipt of the applicable amount, summarize the application
of the local operators and submit them attached by the electronic data to the Ministry of Commerce.

The Ministry of Commerce shall, within 15 days as of the receipt of the application report from the local authorities in charge of
commerce, determine to deliver the distribution amount of interim export of the national operators.

Article 16

The licensed amount of interim export of textile products shall be allowed to be transferred. The transferor and the receiver may
log in the website of the interim export licensed amount of textile products http:\xk.ec.com.cnand transact it directly, the
transferor in some region may also have its technology transfer conducted by the regional authority in charge of commerce. The receiver
shall register in the industrial and commercial administrative authority, record and register in the authority in charge of foreign
trade and fulfill such obligations as labor, safety, and environmental protection.

Article 17

The temporary export licenses of textile product shall be subject to the system of “one license valid for one batch of products”
and “one license valid only for one customs authority clearance”. The licenses herein shall be effective within a calendar year and
the validity period shall be 6 months.

Where the textile products herein are not exported within the prescribed time limit, the holders of temporary export licenses of textile
products may go to the original license issuing authority to handle the extension procedures within at most three months. Where the
license is delayed or altered, the new one shall replace the original one.

Article 18

Where the operator who has obtained the interim export license amount does not completely use the quantity of the interim export
license, the operator shall hand the remaining part to the Ministry of Commerce via local authorities in charge of commerce.

Article 19

The amount which is handed over, fails to be applied for or relinquished shall be calculated in the remaining amount of interim export
of textile products of that year. The remaining overall amount shall be continuously distributed by the Ministry of Commerce in accordance
with Article 11 and shall complete the distribution hereof prior to at least 75 days as of the completion f the licensing year.

Article 20

Where the operator who has obtained the interim export licensed amount of textile products has used more than 20% yet no more than
30% of the achievement distribution within the effective time limit, the Ministry of Commerce shall deduct it from the equal amount
in the distribution amount of the next year. Where the unused amount exceeds 30% of the achievement performance within the effective
time limit, the Ministry of Commerce shall deduct it doubly from the distribution amount of the next year.

Article 21

Where the operator who has obtained the interim export license amount applies for and withdraws the license, the operator shall fill
in the Application Form for License and seal the seal of the unit. Where the operator applies via Internet, the operator shall faithfully
fill in the relevant electronic form and deliver it to the relevant license issuing authority.

Where the operator conducts the application in written form or via the Internet, the operator shall deliver the copy of the relevant
export contract to the license issuing authority at the same time.

Article 22

Every license issuing authority shall, after having received the substantially faithful and formally complete and effective application
of the license amount hereof, issue the license within three working days in accordance with the approved document of interim export
quantity and the relevant electronic data distributed by the local authority in charge of commerce with the authorization of the
Ministry of Commerce.

Article 23

As for the commodities subject to the interim export license administration, the operator shall, after having conducted the interim
export license, apply for and withdraw the certificate of the original place of textile products from the interim certificate issuing
authority authorized by the General Administration of Quality Supervision , Inspection and Quarantine. The certificate issuing authority
shall issue the certificate of the original place of textile products pursuant to the license.

The certificate of the original place shall be identity with such content as the quantity and sum in the license.

Article 24

The operator shall handle the export declaration procedure on the basis of the licenses stamped with the special seal for textiles
license; the commodities shall be cleared on the strength of the electronic data and written licenses from the Ministry of Commerce
and the certificate of original place of issued by competent issuing authorities.

Article 25

In the course of handling textiles export relevant procedures, the customs shall inspect and verify the licenses stamped with the
special seal for textile licenses. As for the textile products subject to legitimate inspection, the customs shall also handle the
clearance procedures on the strength of the Clearance Note of Entry Goods issued by the inspection and quarantine authorities.

The Ministry of Commerce as well as the General Customs Administration shall verify the license via Internet. The administration about
electronic check mechanism and the relevant inspection and verification shall be promulgated otherwise.

Article 26

The interim export license of textile products shall not be forged and altered. Where the export license approval document or the
export license are forged or altered, the parties involved in shall be given the relevant punishment in accordance with the Foreign
Trade Law of the People’s Republic of China, the Customs Law of the People’s Republic of China, Regulations of the People’s Republic
of China on the Administration of Import and Export Commodities and Measures Governing Goods Subject to Export Licenses.

Article 27

The exported sample products may be exempted from obtaining export licenses in cases where the quantity of each batch of exported
commodities does not exceed 50 pieces (including sets, pairs, kilograms or other commodities unit, excluding dozen, double ,dozen,
dozen set, ton); where the products are subject to license administration by the customs authority of the importing country, the
operators shall apply to the issuing bodies for licenses within the quota of license for the enterprise.

Article 28

The export of articles for overseas exhibition and articles for sales shall be handled in accordance with the relevant provisions
of the Measures for the Administration of Goods Subject to Export Licenses; where the goods are allowed for clearance in accordance
with the requirement of customs of the import country (region), it shall be handled in accordance with the Measures herein.

Article 29

Where the operator evades the Measures herein to transit the commodities produced in China to the countries (regions) prescribed
in the Catalogue of Commodities subject to Administration, the Ministry of Commerce shall render the relevant punishment hereto,
and prohibit the operator from being involved in the export operational activities within one year as of the date when the relevant
administrative punishment comes into effect.

Article 30

The inspection upon the issue of the license, the investigation of the law enforcement body, the verification upon the certificate
issuing authority as well as the punishment upon the certificate issuing authority in violation of the Measures herein and upon the
operators who forge or alter the license shall be handled in accordance with the Measures for the Administration of the License of
Exported Goods, unless otherwise prescribed.

Article 31

Such textile products as are processed in the mainland of China and yet its original place is outside the mainland shall not be applicable
to the Measures herein.

Article 32

The Ministry of Commerce shall be responsible for interpreting the Measures herein.

Article 33

The Measures herein shall come into effect as of the date of its promulgation.

Ministry of Commerce
2006-09-18

CIRCULAR OF THE STATE ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE CONCERNING PRINTING AND DISTRIBUTING THE “INTERIM MEASURES FOR ADMINISTRATING THE GOVERNMENT AFFAIRS HALL OF THE STATE ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE”

Circular of the State Administration of Quality Supervision, Inspection and Quarantine concerning Printing and Distributing the “Interim
Measures for Administrating the Government Affairs Hall of the State Administration of Quality Supervision, Inspection and Quarantine”

Guo Zhi Jian Ban [2006] No. 430

Certification and Accreditation Commission of China, Standardization Commission of China, each department, bureau, directly subordinated
or affiliated entity of SAQSIQ:

We have printed the “Interim Measures for Administrating of the Government Affairs Hall of the State Administration of Quality Supervision,
Inspection and Quarantine” and hereby distribute them to you. Please abide hereby.

The State Administration of Quality Supervision, Inspection and Quarantine

September 28,2006
Appendix:
Interim Measures for the Administration of the Government Affairs Hall of the State Administration of Quality Supervision, Inspection
and Quarantine
Chapter I General Provisions

Article 1

These Measures are instituted in order to implement the publicity of government affairs, regulate governmental service activities,
guarantee the lawful exercise of administrative duties, and ensure the government affairs hall of the State Administration of Quality
Supervision, Inspection and Quarantine (hereinafter referred to as SAQSIQ’s Government Affairs Hall) to be well regulated, harmoniously
operated, impartial and transparent, incorruptible and highly efficient.

Article 2

SAQSIQ’s Government Affairs Hall is the place to handling administrative issues facing the public, which is set up for the State
Administration of Quality Supervision, Inspection and Quarantine (including Certification and Accreditation Commission of China)
to fully implement the “Administrative License Law of the People’s Republic of China” and to implement the government affairs publicity.

Article 3

SAQSIQ’s Government Affairs Hall shall conform to the principle of “being incorruptible, diligent, highly-efficient, and facilitating
people”, and implement the operation mechanism as follows: the Government Affairs Hall uniformly accepts applications submitted to
SAQSIQ concerning administrative issues; the related departments shall separately examine the applications and make decisions within
their committed time limits upon their respective duties; then the Government Affairs Hall shall uniformly replies to the applicants.
The mode of one-window acceptance, once-for-all notification and one-station service shall be adopted.

Article 4

The “eight items of publicity” shall be applied for the administrative issues facing the public, which SAQSIQ’s Government Affairs
Hall handles. Specifically, publicity of contents subject to examination and approval, publicity of procedures for handling matters,
publicity of policy basis, publicity of application materials, publicity of time limits, publicity of fee charge rates, publicity
of results, and publicity of telephone numbers for services. Meanwhile, in order to legalize and institutionalize various examination,
approval and services, the institution of finalizing matters within the time limits, that of responsibility of the first functionary
who receives the inquiry, and that of once-for-all notification, etc. shall be adopted.

Article 5

The institution of follow-up supervision shall be practiced and the tip-offs and complaints of the public shall be accepted by SAQSIQ’s
Government Affairs Hall.

Article 6

Each staff member at the windows of SAQSIQ’s Government Affairs Hall shall be dedicated, conform to uniform management, abide by
each rule and bylaw, and provide services warm-heartedly.

Chapter II Organizational Structure and Duties

Article 7

The General Office shall be responsible for managing the establishment of SAQSIQ’s Office for Coordination of Publicity of Government
Affairs. Its main duties including: taking charge of daily management of SAQSIQ’s Government Affairs Hall, taking charge of organizing,
coordinating, managing and supervising the issues subject to administrative examination and other service issues which have entered
SAQSIQ’s Government Affairs Hall, and taking charge of assessing and managing the staff members at the windows of the Hall. Specifically:

(1)

Instituting each rule, bylaw and management measure of SAQSIQ’s Government Affairs Hall and organizing the implementation thereof;

(2)

Coordinating and supervising the related issues in the publicity of government affairs, which are involved in the services in the
Hall, and examining jointly with the related department the guidelines for handling of issues in the Hall;

(3)

Taking charge of setting forth specific opinions concerning the establishment of windows in the Hall, and conducting daily management,
assessment and work supervision over each work window in the Government Affairs Hall and the staff members;

(4)

Coordinating and resolving the problems in the work of the Government Affairs Hall, and circularizing the work of the Government Affairs
Hall;

(5)

Accepting the complaints and tip-offs of citizens, legal persons and other organizations against the staff members of the Government
Affairs Hall; and

(6)

Accomplishing other governmental service work assigned by the leaders of SAQSIQ.

Article 8

The duties of the competent department in charge of each work window of SAQSIQ’s Government Affairs Hall are as follows:

(1)

Subjecting its administrative issues facing the public into SAQSIQ’s Government Affairs Hall to centralized acceptance and handling
in accordance with legal provisions;

(2)

Instituting guidelines and flows charts concerning its handling of administrative issues facing the public, and organizing the implementation
thereof;

(3)

Setting up work windows in the Government Affairs Hall in accordance with legal provisions, as well as selecting, dispatching and
adjusting staff members at the windows;

(4)

Authorizing the work windows it set up in the Government Affairs Hall to handle the governmental service issues only subject to formal-element
examination on site;

(5)

Other functional divisions within the competent department shall cooperate with the work windows to, in accordance with the provisions,
do a good job in examining the governmental service issues in which the substantive contents of the application materials shall be
verified;

(6)

Timely dealing with the letters sent by the Government Affairs Hall for urging the governmental service issues, and replying on time;
and

(7)

Helping the Government Affairs Hall to settle inquiries and complaints of the parties.

Article 9

The duties of each work window of the SAQSIQ’s Government Affairs Hall are as follows:

(1)

Lawfully accepting and dealing with the governmental service issues required by legal provisions to be included by the competent department
into the Government Affairs Hall;

(2)

Upon authorization of the competent department, handling the governmental service issues only subject to formal-element examination
on site; if it is necessary to verify the substantive contents of the application materials, they shall urge the competent department
to deal with the issues within their committed time limits;

(3)

Complying with each management provision of the Government Affairs Hall, and accepting the supervision and coordination of SAQSIQ’s
Office for Coordination of Publicity of Government Affairs;

(4)

Being responsible for join the work of the Government Affairs Hall with that of the competent departments;

(5)

Accepting inquiries of the parties concerned, practicing the institution of publicity of government affairs, that of finalizing the
handling of issues within the time limit, that of responsibility of the first functionary who receives the inquiry, and that of once-for-all
notification, etc.; and

(6)

Accomplishing other work issues assigned by the competent department or by the Government Affairs Hall.

Chapter III Governmental Service Methods and Procedures

Article 10

No department shall accept or deal with any governmental service issue which are subject to centralized acceptance and handling at
SAQSIQ’s Government Affairs Hall in any place out of the Hall.

Article 11

The governmental service issues subject to centralized acceptance and handling at SAQSIQ’s Government Affairs Hall and the guidelines
for handling such issues shall be announced to the public in several methods.

Article 12

The fees in respect of governmental service issues shall be charged under the laws, administrative regulations and related provisions.

Article 13

The Office for Coordination of Publicity of Government Affairs shall uniformly print the guidelines for handling governmental service
issues entering SAQSIQ’s Government Affairs Hall for centralized acceptance, and provide them to the applicants for free.

Article 14

In case an application letter for getting an administrative license or administrative approval must be in a standard form, the model
text of the application letter shall be provided to the applicant for free.

The related department of SAQSIQ shall publish the guidelines to deal with such issues on the ratified administrative licenses or
administrative approval as well as the model text of the application letter on its web site, and shall allow the public to download
them for free. If any change occurs in the guidelines for dealing with such issues regarding the ratified administrative license
or administrative approval, or the model text of the application letter, the said department shall update and announce the information
in a timely manner.

Article 15

The department that deals with the issues on administrative license and administrative approval in accordance with law shall make
a commitment within the statutory time limit, and their committed time limits shall be the deadline for the department to handle
the administrative license. The time needed in lawful hearing, inspection, test, quarantine, on-site examination and expert authentication
or appraisal shall be specified in the guidelines for dealing with issues.

Article 16

As regards an application for administrative license or administrative approval within the scope of powers of SAQSIQ, if the application
materials are complete and comply with the statutory forms, the work window of the Hall involved shall deal with the acceptance,
and if the application satisfies the acceptance conditions, the said work window shall issue to the applicant a notification concerning
application acceptance for administrative license, affix it with the SAQSIQ’s special seal for administrative license and indicate
the acceptance date . The time limit shall commence as of the acceptance date.

In case the issue in question does not fall under the ground of SAQSIQ’s powers, the work window shall immediately decide not to accept
the application, and inform the applicant of applying to the competent administrative organ.

Article 17

In case the application materials are incomplete or do not satisfy the statutory forms, the work window of the Government Affairs
Hall shall notify the applicant, once and for all, of the materials to be supplemented, and issue to the applicant a “Once-for-all
Notification” immediately after receipt of the application materials or within 5 days.

Article 18

In case the department establishing work windows in SAQSIQ’s Government Affairs Hall makes a decision in accordance with law concerning
not accepting a application, it shall issue to the applicant a “Notification concerning Not Accepting the Application for Administrative
License” affixed with the SAQSIQ’s special seal for administrative license and indicate the date, and shall explain the specific
reasons concerning the notification.

Article 19

In case, in accordance with statutory conditions and formalities, only the formal elements of the application materials need to be
checked, and the application materials handed in by the applicant are found after examination of the work window of the Hall to be
complete and to satisfy the statutory requirements, the work window shall immediately make a written decision on acceptance.

In case, in accordance with statutory conditions and formalities, the substantive contents of the application materials need to be
checked, the work window shall accomplish the check within their committed time limit. If the applicant’s application satisfies the
statutory conditions and standards, the work window shall make a written approval decision in a timely manner.

In case the work window makes a written decision in accordance with law concerning not granting the license, it shall explain the
reason.

Article 20

The related information concerning the decisions on granting licenses, which are made by the competent of each the work window of
SAQSIQ’s Government Affairs Hall shall be published, and the public shall be enpost_titled to consult such information for free.

Article 21

SAQSIQ’s Government Affairs Hall shall promote the e-government construction, and gradually implement the work in respect of on-line
acceptance, on-line examination and approval.

SAQSIQ’s Government Affairs Hall shall fully utilize modern ways of communication, notify the applicant for administrative license
of the decision on license and other information in a timely manner, as well.

Chapter IV Supervision and Administration

Article 22

SAQSIQ’s Office for Coordination of Publicity of Government Affairs shall institute the measures for the management and assessment
of all work windows and the staff members at the windows, and enhance the education, training, management and assessment of the staff
members at the windows.

The personnel department shall separately determine the number of outstanding staff members in year-end assessment of the staff members
at the windows of SAQSIQ’s Government Affairs Hall, and it may not be included in the number of the selected entities.

Article 23

Each department shall select persons who possess high political quality, strong work capability and good service attitudes to work
at the windows of the Hall. The selected staff members at the windows shall be on their positions stably, and may not be changed
before having worked for at least one year.

Article 24

Where any of the following circumstances occurs in the department of the work windows of SAQSIQ’s Government Affairs Hall or any
of its staff members when carrying out the governmental service work, the Office for Coordination of Publicity of Government Affairs
shall, on the basis of the severity of the case, provide education and assistance, give circularized criticism, order the department
or staff member to correct the illegal or inappropriate administrative act, or the matter shall be handled by the related department
in accordance with legal provisions:

(1)

It/he accepts or deals with applications at another place when the Government Affairs Hall accepts or deals with the governmental
service application;

(2)

It/he fails to abide by the provisions to alter administrative license fee or other related administrative fees at the fee collection
window of the Government Affairs Hall;

(3)

It/he extorts or accepts bribes, charges fees in violation of rules, or seeks illegal benefits in the process of accepting or dealing
with governmental service issues;

(4)

A staff member at the window results in the governmental service issue to be finalized with delay due to his mistake, or practices
frauds in his work and results in ill effects;

(5)

It/he fails to finalize the governmental service issues within their committed time limit in accordance with law; or

(6)

It/he commits other acts in violation of the provisions concerning management of the Government Affairs Hall.

Article 25

SAQSIQ’s Government Affairs Hall shall build up a complaint office for accepting the applicants’ complaints and other complaint issues.

Article 26

The related departments, persons and work of the Government Affairs Hall shall be actively accept the supervision and inspection
of SAQSIQ’s supervisory department.

Chapter V Supplementary Provisions

Article 27

These Measures shall be subject to the interpretation of the General Office of SAQSIQ.

Article 28

These Measures shall enter into force as of the promulgation date.

The State Administration of Quality Supervision, Inspection and Quarantine
2006-09-28

NOTIFICATION NO. 69 2006 OF THE NATIONAL DEVELOPMENT AND REFORM COMMISSION, THE MINISTRY OF COMMERCE AND THE MINISTRY OF FINANCE

Notification No. 69 2006 of the National Development and Reform Commission, the Ministry of Commerce and the Ministry of Finance

No. 69 [2006]

With a view to stabilizing market, ensuring supply, the National Development and Reform Commission, the Ministry of Commerce and the
Ministry of Finance have decided to put on the market part of the national reserve of sugar. Matters concerned are notified as follows:

As regards the quantity, type and time. The quantity of putting on is 80 000 tons, the type is raw sugar, and the time to put the
national reserve of sugar on the market is October 13.

As regards the floor price of competitive bidding. The floor price of competitive bidding for the national reserve of sugar is 3400
Yuan per ton (ex-warehouse)

As regards the manner for putting on .Competitive Bidding shall be publicly conducted by electronic network system of China Merchandise
Reserve Management Center. The unit of the competitive bidding object is 5000 tons.

Other specific matters concerning the competitive bidding shall be separately notified hereafter by the Ministry of Commerce.

The National Development and Reform Commission

The Ministry of Commerce

The Ministry of Finance

October 10 ,2006

The National Development and Reform Commission, the Ministry of Commerce, the Ministry of Finance
2006-10-10

ANNOUNCEMENT NO.88, 2006 OF THE MINISTRY OF COMMERCE ON THE 2007 QUALIFICATION STANDARDS AND APPLICATION PROCEDURE ON COKE EXPORT ENTERPRISES

Announcement No.88, 2006 of the Ministry of Commerce on the 2007 Qualification Standards and Application Procedure on Coke Export
Enterprises

[2006] No.88

For the purpose of further intensifying regulation on coke export and establishing a better order in export business, according to
the Foreign Trade Law of The People’s Republic of China and the Regulation of the People’s Republic of China on the Administration
of the Import and Export of Goods, the 2007 Regulation on Qualification Standards and Applying Procedure on Coke Export Enterprises
is now promulgated, from which foreign invested enterprises are excluded.

Appendix: 2007 Qualification Standards and Application Procedure on Coke Export Enterprises

The Ministry of Commerce

October 25, 2006
Appendix:
2007 Qualification Standards and Applying Procedure on Coke Export Enterprises

Qualification standards on coke export enterprises

(1)

As for production enterprises

(a)

having registered with industrial and commercial administration departments according to the relevant laws and regulations; having
acquired the export and import qualification or put on records as export and import traders; and having gotten the status as legal
person;

(b)

meeting the Market Access Terms of Coke Industry (the names of these qualified enterprises have been publicized by the National Development
and Reform Commission); and the export volume in 2005 exceeded 250,000 tons

(c)

the product quality meets the current national standards and the ISO9000 quality standards

(d)

abiding by relevant national and local laws and regulations, providing endowment, unemployment, medical care, injury, birth and other
kinds of social insurance to employees according to law, and paying full insurance premium in time, and

(e)

having no acts in violation of the state laws and regulations

(2)

As for circulation enterprises

(a)

having registered with the Industrial and Commercial Administration Department according to the relevant laws and regulations; having
acquired the export and import qualification or put on records as export and import traders; and gotten the status as legal person.

(b)

having a registered capital over 50 million RMB Yuan; average export volume of coke in recent 3 years (2003-2005) equals to or exceeds
150,000 ton ( as shown by the statistics from the Customs) or business scope covers areas related to trade coke domestically and
the average export volume of coke equals to or exceeds 300,000 tons from the year 2003 to 2005

(c)

observeing relevant national and local laws and regulations, provide endowment, unemployment, medical care, injury, birth and other
kinds of social insurance to employees according to law, and pay full insurance premium in time

(d)

having no violation of the national laws and regulations

(3)

In a western region where there is a performance of general trade of coke export (as shown by statistics from the Customs) every year
in the recent 3 years (2003-2005), the provincial government or government of the autonomous region may recommend an enterprise that
has a performance of general trade of coke export in the recent 3 years. Each of the said recommended enterprises must have an registered
capital which equals to or exceeds 10 million RMB Yuan, and meet the requirements (a), (c) and (d) in Article (2); where it is a
production enterprise, it must meet the requirements (a), (c), (d) and (e) in Article (1).

(4)

In a region where there is a performance of general trade of coke export (as shown by statistics from the Customs) every year in the
recent 3 years (2003-2005), the provincial government or government of the autonomous region may recommend 3 enterprise that has
a performance of general trade of coke export in the recent 3 years. Each of the said recommended enterprises must have an registered
capital which equals to or exceeds 5 million RMB Yuan, and meet the requirements (a), (c) and (d) in Article (2); where it is a production
enterprise, it must meet the requirements (a), (c), (d) and (e) in Article (1).

(5)

Where an enterprise in the western region meets the standards as specified in Articles (1) and (2), it may not be enpost_titled to the
preferential policies in Article (3).

(6)

To implement the national industrial policy, as from January 1 2007, all export products must be purchased from the enterprises that
meet the Market Access Terms of Coke Industry (the names of these qualified enterprises have been publicized by the National Development
and Reform Commission). The documents of source enterprises and other relevant materials must be submitted.

(7)

The coke export on foreign invested enterprises shall still be regulated according to current laws and regulation.

Applying, checking and approving procedures

All coke export enterprises must file their applications to their provincial administration departments on commerce. Administration
departments must check the qualifications of these enterprises preliminarily according to qualification standards mentioned above
and submit to the Ministry of Commerce the name list and written opinions on the enterprises that meet the aforesaid standards before
November 15 2006 (relevant materials about the enterprises must also be submitted). Carbon copies are required to be submitted to
China Chamber of Commerce of Materials, Minerals and Chemicals Importers and Exporters.

The enterprises directly under the central government shall file their applications directly with the Ministry of Commerce, and submit
to China Chamber of Commerce of Materials, Minerals and Chemicals Importers and Exporters at the same time.

The Ministry of Commerce entrusts China Chamber of Commerce of Materials, Minerals and Chemicals Importers and Exporters and China
Coking Industry Association to review the opinions on these enterprises. China Chamber of Commerce of Materials, Minerals and Chemicals
Importers and Exporters shall file to the Ministry of Commerce before November 25 2006 their opinions on the enterprises that have
passed the reviewing process.

The Ministry of Commerce shall check again the qualifications on the coke export enterprises according to the opinions from China
Chamber of Commerce of Materials, Minerals and Chemicals Importers and Exporters, and publicize the name list of the enterprises
that meet the qualification standards.

Related materials that have to be submitted

When applying to the provincial administration department on commerce or the Ministry of Commerce, all coke export enterprises must
submit the following documents (all these documents must be signed by the legal representatives of enterprises) :

(1)

the copy of the Business License of the Enterprise Legal Person; the Record Registration Form of Foreign Trade Managers or the Qualification
Certificate for Import/ Export Enterprise of the People’s Republic of China with the seal of record keeping; the Custom Code and
Code for the applying enterprise

(2)

the certificate of ISO9000 Quality Standards

(3)

production enterprises must submit relevant bills or documents in 2005: if the product was purchased first by export enterprises then
exported to other countries, the original invoices for value-added tax supervised by the Bureau of State Taxation, the copy of the
bill of export customs declaration and the copy of the verification certificate for export proceeds must be submitted; if the export
enterprises act as the agents for production enterprises to export goods, the original invoices of import and export, the copy of
the bill of export customs declaration, the copy of the verification certification for export proceeds and the copy of the document
on providing service as import and export agents must be submitted.

The circulation enterprises must provide the following documents: the original invoice of value-added tax or the original special
invoice for export, the copy of the bill of export customs declaration, the copy of the verification certificate for export proceeds
and the copy of the document on providing service as import and export agents.

Other circulation enterprises must also provide relevant documents or bills in recent 3 years (2003-2005): if the product was purchased
first by export enterprises then exported to other countries, the original invoices for value-added tax supervised by the Bureau
of State Taxation, the copy of the bill of export customs declaration and the copy of the verification certificate for export proceeds
must be submitted; if the export enterprises act as the agents for production enterprises to export goods, the original invoices
of import and export, the copy of the bill of the export customs declaration, the copy of the verification certification for export
proceeds and the copy of the document on providing service as import and export agents must be submitted.

These enterprises who apply for Qualification Standards on Coke Export Enterprises for the first time must submit relevant documents
from the year 2003 to 2005. Those who have already been recognized as qualified in 2006, only have to submit relevant documents in
the year 2005.

(4)

Written materials from the local departments in charge of labor and social security are required to prove that endowment, unemployment,
medical care, injury, birth and other kinds of social insurance have been provided to employees and full and in time premium has
been paid.

The Ministry of Commerce
2006-10-25

OPINIONS OF CHINA INSURANCE REGULATORY COMMISSION ON INTENSIFYING INSURANCE FUND RISK MANAGEMENT

Opinions of China Insurance Regulatory Commission on Intensifying Insurance Fund Risk Management

October 31, 2006

Each insurance company and each insurance asset management corporation:

For the purpose of implementing “Some Opinions of the State Council on Reforming and Developing the Insurance Industry” (hereinafter
referred to as “Some Opinions”), setting up and improving the risk management system and operation mechanism of insurance funds,
conscientiously preventing risks of the insurance fund management, and promoting the insurance industry to develop rapidly and smoothly,
the opinions are hereby set forth as follows:

Unifying the understanding, enhancing the awareness, and intensifying the overall risk management.

In recent years, the insurance industry earnestly implemented the guidelines and policies of the Party’s Central Committee and the
State Council, actively participated in the implementation of significant state strategies, constantly accelerated the speed of the
insurance business’s development , enlarged the insurance fund scale, and propelled insurance fund management to go into a new stage
of development. Through the whole industry’s arduous efforts, the insurance fund management has been changed profoundly, the reform
of the system has undergone a great breakthrough, the institutional construction has been continuously improved, the operational
mechanism has been gradually perfected, the investment channels have been gradually broadened, and the investment income has been
steadily increased, As a result, the financial reform has been powerfully supported, the economic development promoted, and the status
of the insurance industry in national economic and social development effectively heightened.

With the deepening of the financial reform, there are more and more risk factors in insurance fund management, the cross-market and
cross-industrial risks have begun to infiltrate and be forwarded to the insurance industry, and some risks might become systematic
risks, on which insurance institutions must place great stress. The insurance fund management in China starts late, the building
up of basic systems lags behind, the mechanism of the internal control is weak, the phenomena of stressing investments and ignoring
internal control as well as stressing income and ignoring risks widely exist, and the operations breaking rules frequently occur.
Such facts have become serious potential threats to the insurance fund safety, and must be earnestly resolved.

The insurance fund management is the lifeline of preventing the insurance industry from risks, and is also an important content and
key link to intensify the whole industry’s risk management. Insurance institutions shall carefully implement “Some Opinions”, and
shall, from the overall and strategic height, unify their understanding and awareness, intensify risk consciousness, and promote
the sense of responsibility and sense of urgency in the improvement of the insurance fund risk management. They shall perfect the
bylaws, improve the mechanism, regulate the operation, intensify disclosure, evaluate the risks insurance fund management in a scientific
way by adopting new methods and using new means, and construct a new risk management system of all-round coverage whole-process management,
and all-staff participation gradually.

Specifying the objective, fulfilling tasks, and establishing a new management system.

Within a period in future, insurance institutions shall place the building up and improvement of the system of insurance fund risk
management and the prevention of operational risks in insurance fund management on an important position of the management work,
and make them become a “roll booster” and “safety net” to promote the rapid development of the insurance industry.

The guiding ideology of improving insurance fund risk management: To implement the view of scientific development in an all-round
way according to the requirements of “Some Opinions”, and by regarding the maintenance of the immediate interests of insurance parties
as the fundamental task, regarding serving economic development and the whole society as the starting point, and regarding strengthening
the building up of capacities of managing insurance fund risk as the emphasis, continue strengthening the building up of basic systems,
propel the reform of management system, establish a management mechanism under which assets are matched with liabilities and risks
are matched with income, propel the mode of risk management to be converted from passively preventing into actively controlling,
and realize the fundamental transformation of the management mode of insurance funds steadily.

Working objective of strengthening insurance fund risk management: To set up a scientific philosophy of overall risk management, build
up a rigorous organizational system of risk management, improve the operation mechanism of risk management, further ameliorate techniques
of risk management, eliminate accumulated risks gradually, keep significant risks within limits effectively, construct a fund risk
management culture of insurance characteristic, establish brand advantages of insurance fund risk management, make risk management
on the use of insurance funds become insurance institutions’ important profit source, and continuously enhance the insurance industry’s
the core competitiveness.

Major tasks of propelling insurance fund risk management: To strengthen the institutional construction of corporate governance and
internal control, construct an organizational framework of risk management with clear duties, rational work division and balanced
powers, completely regulate the operation flow of the insurance fund management, and improve the significant emergency responding
mechanism of insurance fund management. To steadily carry out the trusteeship system of insurance funds, determine the basic duties
of the entrusting parties, entrusted parties, trustees and other parties of insurance funds as well as the legal relationships among
them. To further practice compatible management of assets and liabilities, improve the risk management methods, optimize the system
of information technology, strengthen the monitoring means of risk, and enhance the capacities of managing insurance fund risk. To
improve the investigation mechanism of liability, punish commercial bribes severely, enhance the managers’ quality, and prevent risks
of management and operation.

Reforming the system, improving the mechanism, and constructing a risk management framework.

To improve the organizational framework is an important basis of strengthening insurance fund risk management. Insurance institutions
shall, according to their own development strategies, further straighten out the management relationships of insurance funds, optimize
the corporate governance structure, and construct a long-term effective mechanism for insurance fund risk management on the basis
of the principles of specialty and systematism.

Speeding up reforming the management system of assets. Insurance companies shall continue propelling professional management, improve
the operation mode, establish a system of concentrative fund management of uniform dispatchment, centralized utilization and full-process
monitoring, practically fulfill the duties of strategic asset allocation, investment monitoring and performance evaluation, etc.
They shall, in accordance with the related provisions of the state, sign trusteeship agreements with related commercial banks, clarify
both parties’ duties, entrust banks to handle the affairs such as trusteeship of assets, clearing, delivery, asset valuation, and
investment supervision, and so on, and steadily carry out the third-party trusteeship of insurance assets. Insurance asset management
companies shall actively introduce domestic and overseas strategic investors, improve corporate governance, strengthen the building
up of internal control, regulate the operation acts, prevent management risks by using international management experiences as reference,
and shall manage the trusteeship assets and improve management efficiency under laws, regulations and the contract.

Constructing a risk management organizational structure. Insurance institutions shall, in light of the “Guiding Opinions Concerning
the Regulation of Insurance Corporate Governance”, further clarify the duties of the board of directors, the board of supervisors
and the management staff, regulate the management procedures strictly, establish and improve a mechanism under which the power of
the management decision-making, operation and supervision of insurance funds are separated from and balanced by each other; they
shall strengthen the building up of board of directors, specify the board of directors’ final liabilities for the investment policies,
risk control and lawful management. They shall set up the independent director institution, intensify the duties of independent director,
reinforce the board of directors’ independence, and improve the scientificalness of the decisions; the board of directors shall establish
an internal investment decision-making committee and a risk management committee, with the investment decision-making committee mainly
bearing the responsibility of ratifying the strategic asset allocation and the investment strategies and determining significant
investment matters, and with the risk management committee mainly bearing responsibilities of ratifying risk management bylaws and
basic strategies, and of supervising and evaluating the implementation of risk management. The board of supervisors shall supervise
the fund management acts of the board of directors and the management staff in accordance with the laws, administrative regulations
and relevant provisions of CIRC.

Each insurance company shall set up a professional management support system, establish a special asset management department to be
responsible for drafting asset management policies and adjusting strategic asset allocation, working out investment management guidelines,
select a professional management institution on the basis of the market-based principle, and establish an assessment mechanism of
the professional management institution’s performance. Each insurance fund management corporation shall establish an independent
risk management department to be responsible for drafting risk management bylaws, identifying, evaluating, controlling and managing
various risks, and regularly reporting the risk management situation.

Each insurance asset management corporation shall set up a chief executive officer in charge of the risk management to report the
related information to the board of directors regularly, prevent and eliminate significant risks in a timely manner. As to any significant
potential risk threat, he shall report to the insurance regulatory authority in a timely manner. The chief executive officer in charge
of the risk management shall not hold the position of chief executive officer in charge of the investment management or the senior
manager in charge of investment management concurrently. The employment and change of the chief executive officer in charge of the
risk management shall be reported to CIRC.

Strengthening internal control, detailing the flow, and regulating risk management acts.

To intensify internal control of companies is an important measure to strengthen insurance fund risk management. The insurance institutions
at all level shall build up the guiding ideology of “giving priority to internal control” firmly, work out fixed rules, operate the
business under laws and rules, rigidify financial and accounting disciplines, and prevent risks of fund management.

Strengthening the building up of the internal control system. Insurance institutions shall proceed with compatibility of responsibilities,
decision making of investment, implementation of orders, transaction operation, management and control of risks, and information
disclosure, etc., completely amend and improve internal rules and bylaws, intensify advance prevention, in-process monitoring and
post-affair management, regularly inspect and evaluate the implementation of the internal control bylaws, and exert the supervisory
functions of internal and external audit, so as to ensure the independence, validity and continuity of the audit work on the basis
of the principles of “clearly dividing the work duties, being independent and balanced”.

Detailing the investment operation flow. Insurance institutions shall work out the operation flow of fund management, clarify each
link of the flow, the way of connecting related positions and the operational standards, so as to make it cover the whole process
containing research, decision-making, trading, clearing, risk control and performance evaluation. They shall clean up and disclose
the significant asset management risks, divide the positional duties of the front office, middle office and back office of investment
business strictly, work out effective measures for preventing and controlling risks, so as to make the risk evaluation conducted
before the investment trading. All staff members must lawfully operate, and not violate the procedures.

Establishing a responding mechanism of management emergency. Each insurance institution shall carefully implement the “Provisions
for the Insurance Industry to Respond to Significant Emergencies”, set up a emergency responding plan system of significant insurance
fund management , and shall, once finding any risk symptom or significant incident which might cause fund losses, immediately start
up the emergency responding mechanism, control the development of the state of affairs, make a report to the management staff in
a timely manner, urge the related department to make a rectification as soon as possible, and make a report to CIRC to specifically
state the incident’s background, the disposal situation and the possible consequences.

Improving technologies, developing the system, and enhancing risk management capacities.

To improve techniques of risk management is an important measure to enhance insurance fund risk management. Insurance institutions
shall, according to their own situation, speed up introducing techniques of risk management and experiences of mature markets, carry
out the management of compatible assets and liabilities, improve the technical support system, and propel the transformation of the
risk management from qualitative management into the combination of qualitative management and quantitative management.

Implementing the asset-liability management. Insurance companies shall set up a management mechanism of compatible assets and liabilities,
improve the management system of insurance products by special asset accounts, and determine the best asset management combination
based on the insurance products’ different liability features. Insurance companies and insurance asset management corporations shall
intensify the linkup of investment products with insurance products, and set up a mechanism for coordinative operation of product
design, market sale and investment management. Insurance asset management corporations shall participate in the early design of insurance
products, exert asset management specialties and know about the other markets’ advantages, as well as assist insurance companies
in developing new-type insurance products, and further prevent pricing risks of insurance products. They shall lay stress on tactical
allocation and combined management to manage the entrusted assets elaborately, and practically prevent the risk of wrong allocation
of assets, according to the requirements of strategic allocation of insurance assets strictly.

Improving techniques of risk management. Insurance institutions shall use effective management methods of risks actively, establish
scientific monitoring indices of risks, by making use of such instruments as risk value, scenario analysis and stress testing, and
so on, to conduct the appraisal, pre-warning and monitoring of the policy risks, market risks, credit risks and liquidity risks of
investment management, so as to realize the early finding, reporting, controlling and resolving of the risks. They shall strictly
implement related laws and management provisions of and insurance fund, establish a risk budget system of fund management, reasonably
determine directions and proportions of investment, operate within the risk limits, and avoid being involved in great-risk investment
business or investment business beyond their own management or capacity of risk control.

Improving the management system of information. Insurance institutions shall gradually construct a sound management system of information,
strengthen the building up of the technology support system of information, regulate systematic development, operation and management,
and enhance the level of asset risk management. Each insurance institution shall establish an all-round risk management database,
collect and integrate the basic information on the insurance market and other markets, made a record of the original data of insurance
fund management and investment trading, solidify all factors of risk monitoring into related system of information technology, and
reduce human elements to a maximum extent to reduce operational risks.

Clarifying duties, intensifying management, and rigidifying the mechanism for the liability investigation.

To strictly carry out the accountability system is an important guaranty for strengthening the insurance fund risk management. The
insurance institutions at each level shall lay great stress on educating employee and conducting occupational trainings, build up
the concept of lawful and complied management, and constantly improve all-level managers’ working quality and occupational morality.

Specifying the duties of the risk management. Insurance institutions shall, according to the principles of investing and bearing risks
independently, bear all liabilities in terms of fund management, risk control and investment operation, and so on. The regulatory
authorities shall strengthen the building up of basic systems, loose no time to work out the related rules, make a rigid market access,
regulate the operational acts, conscientiously perform supervisory duties, create a fair, just and open market environment in which
duties are clear, and set up an active, steady and orderly market order.

Conscientiously preventing moral risks. Insurance institutions shall set up management mechanisms for the observation, appraisal,
supervision and encouragement of investment managers, improve the system of report on work, and assess the operational performance,
management capacities, occupational ethics and behaviors of the managers within their service term, and the implementation of duties
thereof. Insurance institutions shall apply the post-leaving audit system to both senior asset managers and the staff members on
important positions strictly, implement the commitment system on combating commercial bribes, strictly prohibit establishing off-the-book
accounts privately, and shall not accept or pay commission in any name or in cash. The related fees lawfully charged for fund management
shall, according to the principles of publicity, transparency and lawfulness, be transferred through bank accounts, so as to earnestly
maintain the social images of honesty, credibility and legality of insurance institutions.

Establishing a mechanism for liability investigation. Insurance institutions shall regularly conduct supervision and inspections of
insurance fund risk management, find out and eliminate the weak points, fatal parts, and risks of major business and important persons
in a timely manner, endeavor to check incidents in violation of any law or rule, resolve the existing problems in a timely manner,
and report to CIRC.

Insurance institutions shall carefully implement the management policies of insurance funds, and severely punish the acts violating
any law or rule in light of the related laws and regulations. With regard to any matter violating any law or rule, no matter whether
causing any loss or not, they shall find out the cause completely, and investigate the liabilities of related persons and leaders
strictly. Senior managers of insurance institutions must be dismissed and replaced, instead of holding a position at the same level
at a different locality if they are involved in insider trading or other investment acts breaking rules, or shall be transferred
to the judicial organ and be subject to criminal liabilities under law if they have committed a crime.

China Insurance Regulatory Commission
2006-10-31

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