LETTER OF THE MINISTRY OF COMMERCE CONCERNING ASSISTING THE ESTABLISHMENT OF AN AID WORK MECHANISM FOR LABOR SERVICE ASSIGNED ABROAD

Letter of the Ministry of Commerce concerning Assisting the Establishment of An Aid Work Mechanism for Labor Service Assigned Abroad

Wai Jing Mao He Han [2003] No. 30
January 10, 2003

The people’s government of all provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically
designated in the state plan,

China’s foreign-related labor service cooperation business developed rapidly, brought about good economic and social returns, and
played a positive role in increasing the foreign exchange revenue of the state, partly easing domestic employment pressure, bringing
along the development of local economy and promoting the reform and opening to the outside world during the past 20-odd years of
reform and opening to the outside world. It has become an important integral part of China’s export-oriented economy and the implementation
of the “going out” strategy. But with the continuous expansion of the scale of China’s foreign-related labor service cooperation
business, disputes and emergencies in respect of the labor service assigned abroad have gradually become more and more as well. Such
disputes or emergencies are usually paroxysmal, complicated and social, so if not disposed properly, they will influence the sound
development of China’s foreign-related cooperation cause and impair the reputation and image of China, or even trigger the unstable
factors of the society.

It is necessary to set up an aid work mechanism for labor services assigned abroad as soon as possible for the purpose of timely disposing
and solving the disputes and emergencies concerning labor service, actually protecting the legitimate rights and interests of the
workers assigned abroad as well as ensuring the sound development of the cause of China’s foreign-related labor service. In September
2001, the Ministry of Foreign Trade and Economic Cooperation began the pilot work of setting up aid centers for labor service assigned
abroad (hereinafter referred to as the aid centers) in Heilongjiang, Shanghai, Jiangsu and Zhejiang. At present, an aid Center has
been set up in Shanghai; a management and coordination team for outbound labor service has been set up in Zhejiang Province, the
general office of the provincial government takes the lead in the establish, simultaneously, involving the department of foreign
trade and economic cooperation, the department of labor and social security, the department of public security, the administration
for industry and commerce, department of foreign affairs, and the bureau of frontier defense. The aid centers of Heilongjiang and
Jiangsu provinces are still under construction. In September 2002, a complaint institution for workers assigned abroad was set up
by China International Contractors Association. The already set up institutions as mentioned above have obtained good effects ever
since began to implement the related work.

Taking into consideration what is stated above, the Ministry of Foreign Trade and Economic Cooperation believes that it is time to
set up an aid work mechanism for labor service assigned abroad. For this reason, in accordance with the actual situations, the people’s
governments of all provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically designated
in the state plan should urge the foreign trade and economic cooperation commissions (departments and bureaus) under them to set
up an aid work mechanism for labor service assigned abroad and offer assistance to them to properly carry out the tasks as follows:

Directing the foreign trade and economic cooperation commissions (departments, bureaus) to be fully aware of the importance of protecting
the legitimate rights and interests of the workers from the height of implementing the “Three Represents” Theory and urge them to
set up an aid work mechanism for labor service assigned abroad as soon as possible. The tasks of the aid work mechanism for labor
service assigned abroad include: to solve the disputes and emergencies both domestically and abroad happening to the workers assigned
abroad by the local enterprises with the foreign-related cooperative business qualifications, to accept the appeals of workers assigned
abroad as well as to provide policy consultation and legal aids to workers assigned abroad.

An aid work mechanism for labor service assigned abroad may be set up in the forms as follows:

In case an aid center has been set up, it shall be run effectively and fully play its role. In case the basic conditions for setting
up an aid center are met, an aid center shall be set up as possible as can. In case the conditions for setting up an aid center are
not mature yet for the time being, an aid work mechanism for workers assigned abroad shall be set up in light of the actual situations
of this region, or there shall be a special department of the foreign trade and economic cooperation commission (department, bureau)
for providing aid to such workers.

The name and contact information of the major persons-in-charge of the aid center already set up or of the aid work mechanism for
workers assigned abroad or of the special department designated by this commission (department or bureau) to (the Cooperation Department)
of the Ministry of Foreign Trade and Economic Cooperation shall be urged to be submitted at the end of February, 2003 by the foreign
trade and economic cooperation commission (department and bureau) of your province, autonomous region, municipality directly under
the Central Government or city under separate state planning.

Table of the Aid Work Mechanisms

Table of the Aid Work Mechanisms of All Places for Labor Service Assigned Abroad

Province (City)

Name of Aid Mechanism Assigned Abroad

Contact Person

Tel

Fax

Beijing

Foreign Trade and Economic Cooperation Office of Beijing Foreign Trade and Economic Cooperation Commission

Zhao Weidong

010-65248762

Tianjin

Tianjin Aid Institution for Labor Service Assigned Abroad

Wang Jianxin

Li Liping

Song Yunping

022-23316905

022-83310768

022-23399725

022-23139482

022-23315231

022-23313152

Hebei Province

Leading Group of Hebei Province for the Management and Coordination of Labor Service of Assigned Abroad

Wang Deping

Rong Dan

0311-7044205

0311-7089689

0311-7041570

Shanxi Province

Aid Work Team of Shanxi Province for Labor Service Assigned Abroad

Yang Yushan

Wang Liping

Guo Xiangxiang

0351-3046214

Inner Mongolia Autonomous Region

Liaoning Province

Foreign Trade and Economic Cooperation Office of the Foreign Trade and Economic Cooperation Department of Liaoning Province

Li Yan

Mu Dongyi

024-86892814

024-86892298-

7090

Dalian

Jilin Province

Foreign Trade and Economic Cooperation Office of the Foreign Trade and Economic Cooperation Department of Jilin Province

Zeng Hong

0431-5624716

0431-5624772

Heilongjiang Province

Shanghai

Shanghai Aid Center for Labor Service Assigned Abroad

Mi Daming

021-63210165

021-63291984

Jiangsu Province

Management and Coordination Team Of Zhejiang Province for Outbound Labor Service

He Xiaoqun

0571-87706136

0571-87706029

Zhejiang Province

Coordination Team of Ningbo for Labor Service Assigned Abroad

Liu Xiaoyan

0574-87319285

0574-87328288

Ningbo

Anhui Province

Foreign Trade and Economic Cooperation Office of Foreign Trade and Economic Cooperation Department of Anhui Province

Hou Gexiong

0551-2831223

0551-2831287

Fujian Province

Xiamen

Jiangxi Province

Coordination Team of Jiangxi Province for Labor Service Assigned Abroad

Shui Dali

0791-6246230

0791-6246236

0791-6211405

Shandong Province

Qingdao Province

Cooperation Office of Qingdao Foreign Trade and Economic Cooperation Bureau

Wu Heng

05320-5918163

0532-5918135

0532-5910212

Henan Province

Hubei Province

Foreign Trade and Economic Cooperation Office of Hubei Foreign Trade and Economic Cooperation Department

Yang Qingsong

027-85774478

027-85774122

027-85773668

Hunan Province

Foreign Trade and Economic Cooperation Office of Hunan Foreign Trade and Economic Cooperation Department

Li Baosheng

0731-2285430

0731-2287181

Guangdong Province

Foreign Trade and Economic Cooperation Office of Guangdong Foreign Trade and Economic Cooperation Department

Fu Haikun

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE CUSTOMS RANKS

Regulations of the People’s Republic of China on the Customs Ranks



	(Adopted at the 32nd Meeting of the Standing Committee of the Ninth National People’s Congress on February 28, 2003 and promulgated by Order No.85 of the President of the People’s Republic of China on February 28, 2003) Contents Chapter I General Provisions Chapter II Classification of Customs Ranks Chapter III Conferment of Customs Ranks Chapter IV Promotion of Customs Ranks Chapter V Retention, Demotion and Deprivation of Customs Ranks Chapter VI Supplementary Provisions Chapter I General Provisions Article 1 These Regulations are enacted in accordance with the Constitution, with a view to strengthening the contingent of the Customs personnel, enhancing their sense of responsibility, their sense of honor, and their sense of organization and discipline, and facilitating their performance of duties according to law. Article 2 A system of customs ranks shall be practised for the customs. Customs ranks may be conferred on the State public servants of the General Administration of Customs, sub-administrations of customs, Commissioner’s Office, regional customs, subordinate customs and offices. The system of the police ranks shall be practised for the anti-smuggling police of the customs. Article 3 A customs rank is embodied in the post_title and insignia identifying the grade and status of a customs officer and is an honor granted to him by the State. Article 4 The customs ranks of the customs personnel shall follow a scheme of Customs ranks graded in correspondence with post levels. Article 5 Customs officers holding higher customs ranks shall be the superiors of those holding lower ranks. Where a customs officer holding a higher rank is a subordinate, in terms of post, to a customs officer holding a lower rank, the latter shall be the superior. Article 6 The General Administration of Customs shall be in charge of the work concerning customs ranks. Chapter II Classification of Customs Ranks Article 7 The customs ranks are classified into the following thirteen grades under five categories: (1) Customs Commissioner-General and Deputy Customs Commissioner-General; (2) Customs Commissioner: First Grade, Second Grade, and Third Grade; (3) Customs Supervisor: First Grade, Second Grade, and Third Grade; (4) Customs Superintendent: First Grade, Second Grade, and Third Grade; and (5) Customs Inspector: First Grade and Second Grade. Article 8 The customs ranks corresponding to the different levels of posts held by the customs officers shall follow the scheme below: (1) Chief post at the level of General Administration: Customs Commissioner-General; (2) Deputy post at the level of General Administration: Deputy Customs Commissioner-General; (3) Chief post at the level of department: Customs Commissioner First Grade and Customs Commissioner Second Grade; (4) Deputy post at the level of department: Customs Commissioner Second Grade and Customs Commissioner Third Grade; (5) Chief post at the level of division: from Customs Commissioner Third Grade down to and including Customs Supervisor Second Grade; (6) Deputy post at the level of division: from Customs Supervisor First Grade down to and including Customs Supervisor Third Grade; (7) Chief post at the level of section: from Customs Supervisor Second Grade down to and including Customs Superintendent Second Grade; (8) Deputy post at the level of section: from Customs Supervisor Third Grade down to and including Customs Superintendent Third Grade; (9) Post at the level of section member : from Customs Superintendent First Grade down to and including Customs Inspector First Grade; and (10) Post at the level of office worker: from Customs Superintendent Second Grade down to and including Customs Inspector Second Grade. Chapter III Conferment of Customs Ranks Article 9 Customs ranks shall be conferred on the customs officers on the basis of their current posts, their political integrity and professional competence, the length of time in which they hold the posts as well as their seniority. Article 10 The customs authority shall confer on customs officers who are recruited through examinations or transferred from other departments the customs ranks that are commensurate with the posts they are assigned to respectively. Article 11 The conferment of customs ranks on customs officers shall be approved according to the limits of authority prescribed as follows: (1) The ranks of the Customs Commissioner-General, Deputy Customs Commissioner-General, Customs Commissioner First Grade and Customs Commissioner Second Grade shall be subject to the approval of and be conferred by the Premier of the State Council; (2) The ranks of the Customs Commissioner Third Grade down to and including the Customs Supervisor Third Grade shall be subject to the approval of and be conferred by the Minister of the General Administration of Customs; (3) The ranks at or below the Customs Superintendent First Grade for customs officers working in the headquarters and affiliated offices of the General Administration of Customs shall be subject to the approval of and be conferred by the Director of the Department of Political Affairs of the General Administration of Customs; and (4) The ranks at or below the Customs Superintendent First Grade for customs officers working in the regional and subordinate customs offices shall be subject to the approval of and be conferred by the Director General of the regional customs. Chapter IV Promotion of Customs Ranks Article 12 Customs officers holding the ranks at or below the Customs Supervisor Second Grade shall be promoted within the range of the customs ranks corresponding to their post levels and at the following intervals: Each promotion to the next higher grade requires three years for the Customs Inspector Second Grade up to and including the Customs Superintendent First Grade; and Each promotion to the next higher grade requires four years for the Customs Superintendent First Grade up to and including the Customs Supervisor First Grade. Article 13 At the end of the interval for promotion, the customs officers holding the rank at or below the Customs Supervisor Second Grade, who are qualified for promotion after appraisal, shall be promoted to the next higher grade; such promotion shall be deferred for those who are not qualified for it. Those who make outstanding achievements in work may be promoted in advance upon approval. Article 14 Selective promotion shall be conducted among the customs officers holding the rank at or above the Customs Supervisor First Grade, within the range of the customs ranks corresponding to their post levels and on the basis of their political integrity, professional competence and their actual achievements. Article 15 Where, a customs officer is promoted to a higher post but the customs rank he is holding is lower than the lowest rank prescribed in the scheme for the new post, he shall be promoted to that lowest rank correspondingly. Article 16 A customs inspector may be promoted to customs superintendent, a customs superintendent to customs supervisor, and a customs supervisor to customs commissioner only when they have received training and proved qualified. Article 17 The provisions in Article 11 of the Regulations shall be applicable to the limits of authority for approval of the promotion of customs ranks. Chapter V Retention, Demotion and Deprivation of Customs Ranks Article 18 When a customs officer retires, he may retain his customs rank but shall not wear the insignias thereof. When a customs officer is transferred from the customs, resigns or is dismissed, he shall not retain his customs rank. Article 19 Where a customs officer is demoted to a lower post for incompetence at the current post, if the customs rank he is holding is higher than the highest rank of the customs rank prescribed in the scheme for the new post, he shall be demoted to that highest rank. The limits of authority for approval of such demotion shall be the same as those for approval of the original customs rank. Article 20 Where a customs officer is given the administrative sanction of demotion or removal from the post, his customs rank shall be demoted accordingly. The limits of authority for approval of such demotion shall be the same as those for approval of the original customs rank. After demotion of the customs rank, the interval for promotion shall be calculated anew on the basis of the customs rank he is holding after demotion. Demotion in the customs rank shall not be applied to Customs Inspector Second Grade. Article 21 Where a customs officer is discharged as an administrative sanction, or commits crimes and is sentenced to deprivation of political rights or to fixed-term imprisonment or more serious criminal punishment, he shall be deprived of his customs rank accordingly, and there is no need to go through the approval formalities. The provisions in the preceding paragraph shall be applicable to the retired customs officers who commit crimes. Chapter VI Supplementary Provisions Article 22 The patterns of the insignias for the customs ranks and the way of wearing them shall be drawn up by the State Council. Article 23 These Regulations shall go into effect as of the date of promulgation.

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF GUYANA ON THE PROMOTION AND PROTECTION OF INVESTMENTS

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF GUYANA ON THE PROMOTION AND
PROTECTION OF INVESTMENTS

The Government of the People’s Republic of China and the Government of the Republic of Guyana, hereinafter referred to as “the Contracting
Parties”

Desiring to intensify economic cooperation between both States on the basis of equality and mutual benefits;

Recognizing that the reciprocal encouragement, promotion and protection of investments will be conducive to stimulating the business
initiatives of investors and the economic development of both States;

Intending to create favourable conditions for investment by investors of one Contracting Party in the territory of the other Contracting
Party;

Agreeing that these objectives can be achieved without relaxing health, safety and environmental measures of general application;

Respecting the sovereignty and laws of the Contracting Party within whose jurisdiction the investment falls;

Have agreed as follows:

Article 1

DEFINITIONS

For the purposes of this Agreement:

“investment” means every kind of asset invested by investors of one Contracting Party in accordance with the laws and regulations
of the other Contracting Party in the territory of the latter and in particular, though not exclusively, includes:

(a)

movable and immovable property as well as any other property rights such as mortgages, liens and pledges;

(b)

shares, stock, debentures and any other form of participation in company;

(c)

claims to money, or to any performance under contract having an economic value associated with an investment;

(d)

intellectual property rights, including copyrights, patents, industrial designs, trademarks, trade names, technical processes, know-how
and goodwill;

(e)

business concessions conferred by law or under contract permitted by law, including concessions to search for, cultivate, extract
or exploit natural resources;

Any change in the form in which assets are invested shall not affect the character of the assets as investments, provided that such
change is done in conformity with laws and regulations of the Contracting Party in which the assets are invested.

“investors” means:

(a)

natural persons who have nationality of either Contracting Party in accordance with the laws of that Contracting Party;

(b)

economic entities, including companies, corporations, associations, partnerships and other organizations, incorporated and constituted
under the laws and regulations of either Contracting Party and which have their seats in that Contracting Party.

“nationals” means those persons referred to in paragraph 2 (a)above.

“returns” means the amounts yielded from an investment and in particular, though not exclusively, includes profit, interests, capital
gains, dividends, royalties and fees.

“territory” means:

the territory of the People’s Republic of China or the territory of Cooperative Republic of Guyana, respectively, as well as those
maritime areas including the seabed and subsoil, adjacent to the outer limit of the territorial sea over which the State concerned
exercises, in accordance with international law, sovereign rights or jurisdiction for the purpose of exploration and exploitation
of the natural resources of such areas.

Article 2

PROMOTION AND PROTECTIONOF INVESTMENTS

Each Contracting Party shall encourage and create favourable conditions for investors of the other Contracting Party to invest in
its territory and shall admit such investments in accordance with its laws and regulations.

Investments of the investors of each Contracting Party shall be accorded fair and equitable treatment and shall enjoy full protection
and security in the territory of the other Contracting Party.

Without prejudice to its laws and regulations, neither Contracting Party shall in any way impair by unreasonable or discriminatory
measures the management, maintenance, use, enjoyment or disposal of investments in its territory by the investors of the other Contracting
Party.

Each Contracting Party shall issue visas and work permits in accordance with its own laws and regulations to nationals of the other
Contracting Party engaging in activities associated with investments made in its territory. Each Contracting Party shall encourage
its investors to employ their best endeavours to facilitate the training of local personnel and the transfer of skills.

Article 3

TREATMENT OF INVESTMENTS

For the purposes of this Article, “activities associated with the investments,” means the operation, management, maintenance, use,
enjoyment or disposal of those investments by the investor.

Without prejudice to its laws and regulations, each Contracting Party shall accord to investments or returns and activities associated
with the investments by the investors of the other Contracting Party, treatment not less favorable than that accorded to the investments,
returns and associated activities of its own investors.

Neither Contracting Party shall subject investments or returns and activities associated with the investments by the investors of
the other Contracting Party to treatment less favorable than that accorded to the investments or returns and associated activities
of investors of any third State.

The treatment granted under this Article shall not relate to privileges, which either Contracting Party accords to investors of third
States or account of its membership in, or association with, a customs or economic union, a common market or a free trade area.

The treatment granted under this Article shall not relate to advantages which either Contracting Party accords to investors of third
States by virtue of a double taxation agreement or other international agreement regarding matters of taxation.

The provisions of this Article shall not prevent either Contracting Party from granting special incentives only to its own nationals
and companies in accordance with its laws and regulations in order to stimulate the creation or growth of local industries, provided
that such incentives do not impair the investments or the activities in connection with an investment, of nationals and companies
of the other Contracting Party.

Article 4

EXPROPRIATION

Neither Contracting Party shall expropriate, nationalize or take other similar measures (hereinafter referred to as “expropriation”)
against the investments of the investors of the other Contracting Party in its territory, except:

(a)

for the public purpose; and

(b)

under domestic law; and

(c)

without discrimination and

(d)

against compensation.

The compensation mentioned in Paragraph 1 of this Article shall be equivalent to the market value of the expropriated investments
immediately before the expropriation is taken or before the impending expropriation becomes public knowledge, whichever is the earlier.
The value shall be determined in accordance with the generally recognized principles of valuation as if the investments were to be
sold as an ongoing concern on the open market disregarding the question of expropriation. The compensation shall include interest
at the average commercial rate from the date of expropriation until the date of payment. The compensation shall be made without delay,
be effectively realizable and be freely transferable.

The investor affected shall have a right, under the law of the Contacting Party making the expropriation, to prompt review, by a judicial
or other independent authority of that Contracting Party, of his or its case and of the valuation of his or its investment in accordance
with the principles set out in this Article.

Article 5

COMPENSATION FOR DAMAGES AND LOSSES

Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war or
other armed conflict, a state of national emergency, revolt, insurrection or riot or other similar event in the territory of the
latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation
or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or to investors
of any third State.

Article 6

TRANSFERS

Each Contracting Party shall, subject to its laws and regulations, grant to the investors of the other Contracting Party the transfer
of their investments and returns held in its territory, including:

(a)

profits, dividends, interest and other legitimate income;

(b)

proceeds obtained from the total or partial sale or liquidation of investments

(c)

payments pursuant to loans in connection with investments;

(d)

royalties and fees in relation to the matters in Paragraph 1(d) of Article 1 ;

(e)

earnings of nationals of the other Contracting Party who are allowed to work in connection with an investment in the territory of
the former Contracting Party;

(f)

compensation provided for in Article 5 ;

(g)

payments of technical assistance or technical service fee or management fee;

(h)

capital and additional sums necessary for the maintenance and development of the investments.

Nothing in Paragraph 1 of this Article shall affect the free transfer of compensation paid in terms of Article 4 of this Agreement.

Transfers shall be made in freely convertible currency and at the applicable prevailing market rate of exchange in the territory of
the Contracting Party accepting the investment and on the date of transfer subject to any withholding tax, income tax and other taxes
unless otherwise agreed at the time of an individual investment.

Article 7

SUBROGATION

If one Contracting Party or its designated agency makes a payment to its investor under an indemnity give in respect of an investment
made in the territory of the other Contracting Party, the latter Contracting Party shall recognize the assignment of all the rights
and claims of the indemnified investor to the former Contracting Party or its designated agency, by law and the right of the former
Contracting Party or its designated agency to exercise by virtue of subrogation any such right to the same extent as the investor.

Article 8

SETTLEMENT OF DISPUTES BETWEEN

THE CONTRACTING PARTIES

Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, if possible, be
settled by consultation through diplomatic channels.

If the dispute has not been settled within a period of six months from the date on which either Contracting Party raised the matter,
it may be submitted at the request of either Contracting Party to an Arbitral Tribunal.

Such an Arbitral Tribunal shall be constituted ad hoc as follows: each Contracting Party shall appoint one member, and these two members
shall agree upon a national of a third State having diplomatic relations with both Contracting Parties, as the chairman to be appointed
by the two Contracting Parties. Such members shall be appointed within two months, and such chairman within four months from the
date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an Arbitral
Tribunal.

If within the periods specified in paragraph 3 above the necessary appointments have not been made, either Contracting Party shall,
in the absence of any other arrangement, invite the President of the International Court of justice to make the necessary appointments.
If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the
Vice-President shall be invited to make the necessary appointments. If the Vice CPresident is a national of either Contracting Party
or if he, too, is prevented from discharging the said function, the member of the Court next in seniority who is not a national of
either Contracting Party or is not otherwise prevented from discharging the said functions, shall be invited to make the necessary
appointments.

The Arbitral Tribunal shall determine its own procedure. The Arbitral Tribunal shall reach its award in accordance with the provisions
of this Agreement and the principles of international law recognized by both Contracting Parties.

The Arbitral Tribunal shall reach its decision by a majority of votes, and this award shall be final and binding on both Contracting
Parties. The Arbitral Tribunal shall, upon the request of either Contracting Party, explain the reasons for its award.

Each Contracting Party shall bear the cost of its own member of the Arbitral Tribunal and of its representation in the arbitral proceedings;
the cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The Arbitral Tribunal
may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting parties.

Article 9

SETTLEMENT OF DISPUTES BETWEEN ONE CONTRACTING PARTY AND AN INVESTOR OF THE OTHER CONTRACTING PARTY

For purposes of this Agreement, an “investment dispute” is a dispute between a Contracting Party and an investor of the other Contracting
Party, concerning an obligation of the former under this Agreement in relation to an investment of the latter.

In the event of an investment dispute, the Parties to the investment dispute should initially seek an amicable resolution through
consultation and negotiation.

If the dispute cannot be settled through negotiations within six months, either Party to the dispute shall be enpost_titled to submit the
dispute to the competent court of the Contracting Party accepting the investment.

If the investment dispute cannot be settled amicably within six months from the date of written notification of a claim, the investor
that is a Party to an investment dispute may submit the investment dispute for resolution under one of the following alternatives:

(a)

.The International Centre for the Settlement of Investment Disputes (ICSID) having regard to the provisions, where applicable, of
the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, opened for signature at Washington
D.C on 18th March 1965; or

(b)

.An ad hoc arbitral tribunal to be appointed by a special agreement of the parties to the investment dispute;

Provided that the Contracting Party involved in the dispute may require the investor concerned to exhaust the domestic administrative
review procedures specified by the laws and regulations of that Contracting Party before submission of the dispute to the aforementioned
arbitration procedure,

However, if the investor concerned has resorted to the procedure specified in Paragraph 3 of this Article the provisions of this Paragraph
shall not apply.

Without prejudice to Paragraph 4 of this Article, the ad hoc Tribunal referred to in paragraph 4 (b) shall be constituted for each
individual case in the following way: each party to the dispute shall appoint one arbitrator and these two shall select a national
of a third State which has diplomatic relations with both Contracting Parties as the Chairman. The first two Arbitrators shall be
appointed within two months and the Chairman within four months of the written notice requesting arbitration by either party to the
dispute to the other.

If within the period specified in Paragraph 5 above, the Tribunal has not yet been constituted, either party to the dispute may invite
the Secretary General of the International Centre for the Settlement of Investment Disputes to make the necessary appointments.

The ad hoc Tribunal shall determine its own procedure. However, the Tribunal may in the course of determination of procedure take
as guidance, the Arbitration Rules of the International Centre for the Settlement of Investment Disputes.

The Tribunal referred to in Paragraph 4 (a) and (b) above of this Article shall reach its award by a majority of votes. Such award
shall be final and binding upon both Parties to the dispute. Both Contracting Parties shall commit themselves to the enforcement
of the award.

The tribunal referred to in Paragraphs 4 (a), (b) of this Article shall adjudicate in accordance with the law of the Contracting Party
to the dispute including its rules on the conflict of laws, the provisions of this agreement as well as the applicable principles
of international law.

10.

Each Party to the dispute shall bear the costs of its appointed Arbitrator and of its representation in arbitral proceedings. The
relevant costs of the Chairman and the Tribunal shall be borne in equal parts by the parties to the dispute. The tribunal may in
its award direct that a higher proportion of the costs be borne by one of the Parties to the dispute.

Article 10

OTHER OBLIGATIONS

If the law of either Contracting Party or obligations under international law existing at present or established hereafter between
the Contracting Parties in addition to the present Agreement contain rules, whether general or specific, entitling investments by
investors of the other Contracting Party to treatment more favourable than is provided for by the present Agreement, such rules shall,
to the extent that they are more favourable, prevail over the present Agreement.

Each Contracting Party shall observe any commitments it may have entered into with the investors of the other Contracting Party as
regards their investments.

Each investor shall observe the municipal and domestic laws, including criminal, immigration and taxation laws and other domestic
legislation of the Contracting Party receiving the investment.

Article 11

APPLICATION

This Agreement shall apply to all investments, which are made prior to or after its entry into force by investors of either Contracting
Party in accordance with the laws and regulations of the other Contracting Party in the territory of the latter but the provisions
of this Agreement shall not apply to any dispute, claim or difference which arose before its entry into force.

Article 12

RELATIONS BETWEEN CONTRACTING PARTIES

The provisions of the present Agreement shall apply irrespective of the existence of diplomatic or consular relations between the
Contracting Parties.

Article 13

CONSULTATIONS

The representatives of the Contracting Parties shall hold meetings from time to time for the purpose of:

(a)

reviewing the implementation of and proposals for amendment of this Agreement;

(b)

exchanging legal information and investment opportunities;

(c)

forwarding proposals on promotion of investments;

(d)

studying other issues in connection with investments.

Where either Contracting Party requests consultation on any matter of Paragraph 1 of this Article, the other Contracting Party shall
give a prompt response and the consultation shall be held alternatively in Beijing and in Georgetown.

Article 14

ENTRY INTO FORCE, DURATION AND TERMINATION

Each Contracting Party shall notify the other in writing of the completion of the domestic legal procedures required in its territory
for the entry into force of this Agreement. This Agreement shall enter into force on the date of the latter of the two notifications.

This Agreement shall remain in force for a period of ten years. Thereafter it shall continue in force until the expiration of twelve
months from the date, on which either Contracting Party shall have given written notice of termination to the other Contracting Party.

With respect to investments made whilst the Agreement is in force, its provisions shall continue in effect with respect to such investments
for a period of ten years after the date of termination.

Article 15

AMENDMENT

Any provision of this Agreement may be amended by mutual agreement between the Contracting Parties. An Exchange of Diplomatic notes
shall confirm any such amendment.

In Witness Whereof, the undersigned, duly authorized thereto by their respective Governments, have signed this Agreement.

Done in duplicate at Beijing on the 27th day of March in the year 2003 in the Chinese and English languages, both texts being equally
authoritative.

For the Government of theFor the Government of the

People’s Republic of China Republic of Guyana

The Government of the People’s Republic of China
2003-03-27

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON ISSUES RELATING TO THE TAX TREATMENT OF ENTERPRISES WITH FOREIGN INVESTMENT WHICH FOREIGN INVESTOR’S CAPITAL CONTRIBUTION LOWER THAN 25%

The State Administration of Taxation

Circular of the State Administration of Taxation on Issues Relating to the Tax Treatment of Enterprises with Foreign Investment which
Foreign Investor’s Capital Contribution Lower than 25%

GuoShuiHan [2003] No. 422

April 18, 2003

State tax bureaus and local tax bureaus of provinces, autonomous regions and municipalities directly under the Central Government,
municipalities separately listed on the State plan:

For facilitating localities to accurately understand, carry out and implement the Circular of the MOFTEC, the State Administration
of Taxation, the State Administration for Commerce and Industry, and the State Administration of Foreign Investment on Issues Relating
to Strengthening the administration over the Examination and Approval, Registration, Foreign Exchanges and Taxes of Enterprises with
Foreign Investment (WaiJingMaoFa [2002] No.575), here is to clarify the issues relating to the tax treatment of the newly-established
enterprises with foreign investment with actual capital contributions by foreign investors lower than 25% (hereinafter referred to
as enterprises that foreign investment lower than 25%):

Issues on applicable tax system. The applicable tax system to enterprises that foreign investment lower than 25% shall be the same
as that to domestic enterprises without enjoying the preferential tax treatment granted to enterprises with foreign investment, unless
otherwise provided for by the State Council.

II.

Issues on tax registration. Enterprises that foreign investment lower than 25% shall be treated as domestic enterprises when handling
with tax registration, unless otherwise provided for by the State Council.

Please abide by and implement the present Circular.

The State Administration of Taxation
2003-04-18

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON STRENGTHENING THE WORKS RELATING TO WITHHOLDING AND PAYMENT OF THE INDIVIDUAL INCOME TAX FROM INTERESTS OF ENTERPRISES BOND

The State Administration of Taxation

Circular of the State Administration of Taxation on Strengthening the Works Relating to Withholding and Payment of the Individual
Income Tax from Interests of Enterprises Bond

GuoShuiHan [2003] No.612

June 6, 2003

Local tax bureaus of the provinces, autonomous regions and municipalities directly under the Central Government and municipalities
separately listed on the state plan:

In order to further strengthening the management of the levy and collection of the individual income tax from interests of enterprises
bonds, and safeguard the timely entry of full tax into the state treasury, the issues on the management of levy of the income tax
from interests of enterprises bonds are notified as follows through research and investigation:

The individual income tax from interests of enterprise bonds shall be uniformly withheld and paid by the conversion institutions when
converting and paying the interests to the holders of bonds, which shall be directly entered into the state treasury. The conversion
and paying institutions shall do well in the works relating to the withholding and payment of the individual income tax according
to the relevant provisions of the individual income tax law.

II.

Various levels of tax administration shall strengthen the management on the work of the conversion and paying institutions relating
to withholding and payment of the individual income tax.

III.

The Circular shall be implemented as of the date of the delivery.

The State Administration of Taxation
2003-06-06

MEASURES FOR PRICE ADMINISTRATION OF WATER SUPPLY OF WATER ENGINEERING

The State Development and Reform Commission, the Ministry of Water Resources

Decree of the State Development and Reform Commission of the PRC and the Ministry of Water Resources of the PRC

No.4

According to the relevant provisions of the Water Law of the PRC and the Price Law of the PRC, the Measures for Price Administration
of Water Supply of Water Engineering are formulated, which is hereby promulgated and shall come into force on January 1, 2004.

According to the provisions of the Reply to Nullifying the Measures for Verification, Billing and Collection and Management of Water
Fees of Water Engineering (GuoHan [2003] No.57) of the State Council, the original Measures for Verification, Billing and Collection
and Management of Water Fees of Water Engineering (GuoFa [1985] No. 94) formulated by the State Council shall be repealed simultaneously
as of the date of implementation of the Measures for Price Administration of Water Supply of Water Engineering.

Director of the State Development and Reform Commission: Ma Kai

Minister of the Ministry of Water Resources: Wang Shucheng

July 3, 2003

Measures for Price Administration of Water Supply of Water Engineering

Chapter I General Provisions

Article 1

In order to perfect the mechanism of price formation of water supply of water engineering, to regulate the price management of water
supply of water engineering, to safeguard and rationally utilize water resources, to promote economical use of water, and to guarantee
the healthy development of water conservancy causes, the Measures is formulated according to the Price Law of the PRC and the Water
Law of the PRC.

Article 2

The Measures shall be applicable to the price management of water supply of water engineering in the territory of the PRC.

Article 3

The price of water supply of water engineering herein refers to the price of natural water sold to users by water suppliers through
blocking, reservation, conduct and taking facilities of water engineering.

Article 4

The price of water supply of water engineering is composed of costs, expenses, profits and tax of the water production.

The costs of the water production refer to the direct salary, direct material expenses and other direct expenditures, as well as depreciation
expenses of fixed assets, repair fees and water resources fees production expenses occurred during regular production of water supply.
The expenses of the water production refer to rational marketing expenses, management fees and financial expenses in order to organize
and manage the production and operation of water supply.

The profits refer to the rational revenues acquired through undertaking regular production and operation of water supply, and shall
be checked and ratified according to the profit margin of net assets.

Article 5

The price of water supply of water engineering shall adopt the uniform policies and management by level and adopt the government-guiding
price or the government pricing in consideration of different circumstances. The price of water supply of water engineering run by
the local people encouraged by the government shall adopt the government-guiding price; other price of water supply of water engineering
shall adopt the government pricing.

Chapter II Principles and Measures for Verification of Water Price

Article 6

The price of water supply of water engineering shall be formulated according to the principles of compensatory cost, rational revenues,
high quality and favorable price and fair burden, and shall be adjusted according to the changes of the costs, expenses and market
supply and demand of water supply.

Article 7

For the water engineering in the same areas of water supply of similar engineering status, geographical environment and water resources,
the price of water supply shall be uniformly verified according to the region. The specific scope of water supply region shall be
determined by the competent price departments through consultation with the competent provincial water departments. Other price of
water supply of water engineering shall be verified based on single engineering.

Article 8

The assets, costs and expenses of water engineering shall be rationally distributed among various usages of water supply, energy production
and flood control. The costs and expenses distributed by the water supply of water engineering shall be compensated by the price
of water supply. The specific methods of distribution and accounting shall be executed according to the relevant provisions of the
competent financial, price and water departments under the State Council.

Article 9

For the water supply engineering of water conservancy established by loans and bonds, the price of water supply shall enable the water
supplier to compensate for the cost and expenses and repay the principal and interest of loans and bonds and obtain rational profits.
The operation term refers to the cycle of economical life and shall be determined according to the weighted average of the depreciation
years by category specified by the competent state financial departments.

Article 10

According to the state economic policies and the bearing capability of water users, the water supply of water engineering shall adopt
pricing by category. The price of water supply of water engineering shall be divided into agricultural water price and nonagricultural
water price according to the objects of water supply. The agricultural water refers to water for grain crops and economic crops and
aquatic cultivation water directly provided by the water engineering; the nonagricultural water refers to the industrial water, water
for water plants, water for waterpower and water for other uses directly provided by the water engineering.

The agricultural water shall be verified according to the principle of production costs and expenses of compensation water supply,
free of profit and tax. The nonagricultural water, based on the production costs and expense of compensation water supply and tax
calculation by force of law, shall be calculated and collected according to the net assets of water supply, with the interest determined
according to long term loan interests of domestic commercial banks plus 2-3%.

Article 11

In case of the water engineering used for water of power generation and used for the water aiming at other benefits upon power generation,
the water price (Yuanm3) of power shall be verified according to 0.8% of the sale price (Yuan/ KWH) of the electric network at
the locality of the hydraulic power plant, and other water price after power generation shall be verified against the standard no
more than the standard specified by Article 10 of the Measures. The water price(Yuanm3) of the water engineering only used for
water of power generation shall be verified according to 1.6%2.4% of the sale price (Yuan/ KWH)of the electric network at the locality
of the hydraulic power plant.

The first level water price of stage power plant using the same water supply of water engineering to generate electricity shall be
verified against the above-mentioned principles, and the water price of the second level and low levels shall decrease by level.

Article 12

Under a special circumstance, the price of water supplied by utilizing the dead reservoir capacity of water engineering may be verified
against 2 to 3 times of the regular price of water supply.

Chapter III System of Water Price

Article 13

The water supply of water engineering shall progressively promote the water price of two-department system by combining the basic
water price with the water price based on measurements. The scope and process of the specific implementation shall be determined
by the competent price departments of the provinces, autonomous regions and municipalities directly under the Central Government.

The basic water price shall be verified in the principle of compensation for the direct salary, management fees and 50% of depreciation
expenses and repair expenses for water supply.

The water price based on measurements shall be verified in the principle of compensation for other costs and expenses, including water
resource fees and material fees, other than the basic water price, plus the calculation of the profit and tax.

Article 14

Water for various uses shall execute quota management, and the water beyond quota shall execute progressive price markup. The markup
method beyond quota shall be determined by the competent price departments jointly with the competent water departments of management
authority.

Article 15

In case the water source of water supply of water engineering is extremely influenced by seasons, the price of water supply may execute
the water price of plentiful and dried seasons or floating price for seasons.

Chapter IV Management Authority

Article 16

The price of water supply of water engineering directly under the Central Government and cross provinces, autonomous regions and municipalities
directly under the Central Government shall be examined and approved by the competent price departments jointly with the competent
water departments under the State Council.

Article 17

The management authority for the local price of water supply of water engineering and the procedure of the declaration and examination
and approval shall be provided for by the competent price departments jointly with the competent commodity water departments of the
people’s government of provinces, autonomous regions and municipalities directly under the Central Government.

Article 18

The price of water supply of water engineering listed in the content of price hearing shall execute the price hearing in full consideration
of the opinions of parties concerned when formulating or adjusting the price.

Chapter V Right and Duties and legal Obligation

Article 19

In case of applying for formulation and adjustment of the price of water supply, water suppliers shall provide the competent price
departments with the operation and cost circumstance of the production of water supply and present the relevant account books, documents
and other relevant materials.

Article 20

The water supply of water engineering shall adopt billing based on measurements. In case of having not adopted billing based on measurements,
the condition shall be aggressively created, and the billing based on measurement shall be adopted. In case of no measurement facility
and instrument available, the proper pricing unit shall be determined by the competent price departments jointly with the competent
water departments of management authority.

For the water engineering adopting the water price of two-department system, the basic water fees shall be collected according to
the water demand quantity or the water supply capacity of the engineering, and the measurement of water fees shall be collected according
to the actual water supply quantity of the measurement point.

Article 21

The water supply of water engineering shall adopt the system of price announcement. Water suppliers and water users must strictly
enforce the state water price policies, and shall not modify the water price without authority.

The water fees shall be calculated and collected by the water supplier or the entity and individual authorized by the water supplier,
and other entity and individual is not enpost_titled to collect the water fees.

Article 22

Water suppliers and water users shall enter into the contract for water supply according to the relevant state laws and regulations
and the water price policies. Except for natural factors beyond control, the water suppliers shall bear the compensatory obligation
of the damage to water users due to failure to supply water according to the contract.

Article 23

The water user shall timely pay water fees according to the relevant state provisions. In case of failing to pay the water fees overdue,
the water users shall pay liquidated damages as specified. In case the water users fail to pay the water fees and liquidated damages
upon the interpellation of a rational term, the water suppliers may suspend to supply water according to the procedure specified
by the state.

Article 24

Any entity or individual shall not add any charges other than the regular water fees or offer any reduction or exemption in violation
of the provisions thereof. Any entity or individual is prohibited from detaining, transferring or embezzling the water fees.

Article 25

The competent price departments of the people’s government at various levels shall supervise and examine the execution of the price
of water supply of water engineering, and investigate and prosecute the entity or individual in violation of the regulations and
policies of the price according to the Price Law and the Provisions on the Administrative Punishment of Price Misbehaviors.

Chapter VI Supplementary Provisions

Article 26

The water fees of water engineering are the operation revenues the water suppliers obtain in undertaking the production of the water
supply, and its uses and management shall be executed according to the relevant financial and accounting system of the financial
competent departments and the competent water departments under the State Council.

Article 27

Except for the drainage and discharge of the flood of farmland to the benefit the farmers, for the drainage and discharge of the flood
of water conservancy with clear scope of benefit, the management unit may charge the fees of water discharge to the beneficiary entity
and individual, and the standard shall be verified by the price competent departments of management authority according to the principle
of slightly lower price than the price of water supply.

In terms of the water engineering for both supply and drainage, the standards should be separately verified on water fees, which shall
be calculated separately from the water fees of water supply.

Article 28

The competent price departments and the competent water departments of provinces, autonomous regions and municipalities directly under
the Central Government shall formulate the implementation measures according to the Measures and considering the actual local circumstance,
and submit it for filing by the competent price departments and the competent water departments under the State Council.

Article 29

The Measures shall come into force on January 1, 2004. In case of any discrepancy between the relevant provisions enacted prior to
the promulgation of the Measures and the Measures, the Measures shall prevail.

Article 30

The interpretation of the Measures is vested with the competent price departments jointly with the competent water departments under
the State Council.

The State Development and Reform Commission, the Ministry of Water Resources
2003-07-03

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON ADJUSTING THE POLICIES FOR DOMESTIC RESIDENT INDIVIDUALS TO PURCHASE FOREIGN EXCHANGES UNDER CURRENT ACCOUNTS

The State Administration of Foreign Exchange

Circular of the State Administration of Foreign Exchange on Adjusting the Policies for Domestic Resident Individuals to Purchase Foreign
Exchanges under Current Accounts

HuiFa [2003] No.104

September 1, 2003

The branches and offices under the State Administration of Foreign Exchange in all provinces, autonomous regions and municipalities
directly under the Central Government, the branches of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo; all designated foreign exchange
banks:

In order to adapt to the new situation of opening to the outside world, better satisfy the real demands of domestic resident individuals
for using foreign exchanges under current accounts, facilitate and regulate resident individuals’ purchase of foreign exchanges from
banks, and curb illegal foreign exchange transactions, the State Administration of Foreign Exchange decides to adjust the existing
policies for domestic resident individuals’ purchase of foreign exchanges under current accounts, and revise relevant administrative
provisions. The notice on relevant issues is hereby given as follows:

The guiding limit for domestic resident individuals (hereinafter referred to as resident individuals) to purchase foreign exchanges
under current accounts is raised, and the guiding limit for purchasing foreign exchanges in the “Detailed Implementing Rules on the
Administration of Purchase of Foreign Exchanges by Domestic Resident Individuals” promulgated on July 11, 2002 (HuiFa [2002] No.
68) (hereinafter referred to as the “Detailed Rules”) is adjusted as follows:

(1)

The guiding limit for purchasing foreign exchanges for actual exit from the territory (note: excluding border tour): If a resident
individual needs to purchase foreign exchanges due to outbound travel, going on a pilgrimage, visiting relatives, overseas hospitalization,
commercial investigation, employment, settling down abroad, international foreign exchanges, overseas trainings, overseas study,
provision of labor service abroad, etc., and the period for him to stay out of the territory as indicated on his visa is within a
half year, he may purchase foreign exchanges at the equivalent amount of 3,000 USD from the bank each time; while if the period for
him to stay out of the territory is half a year or more, he may purchase foreign exchanges at the equivalent amount of 5,000 USD
from the bank each time.

(2)

The guiding limit for purchasing foreign exchanges for non-exit from the territory: If a resident individual does not exit from the
territory, but needs to purchase foreign exchanges due to payment of membership fee of an overseas international organization, remedies
to overseas lineal relatives, mail order from abroad, etc., the guiding limit for purchasing foreign exchanges shall be uniformly
adjusted to an equivalent amount of 3,000 USD per person per time.

(3)

Article 21 of the “Detailed Rules” is cancelled. The guiding limit for children at or below 14 to purchase foreign exchanges shall
no longer be halved, instead, the foreign exchanges shall be supplied in full amount pursuant to the above guiding limit.

II.

If the amount of foreign exchanges purchased by a resident individual before exiting the territory is below the above prescribed guiding
limit, the designated foreign exchange bank shall examine it for the sale of foreign exchanges; if the resident individual needs
to exceed the above prescribed guiding limit to purchase foreign exchanges, he may not purchase the foreign exchanges from the designated
foreign exchange bank until the branch or sub-branch of the State Administration of Foreign Exchange (hereinafter referred to as
the foreign exchange bureau) has examined the authenticity.

III.

For a region where no foreign exchange bureau is established, the foreign exchange bureau at the next higher level shall assess the
banks in this region which are qualified to sell foreign exchanges to individuals, and may, on the basis of assessment, authorize
qualified banks to examine, on behalf of the foreign exchange bureau, the foreign exchanges purchased in excess of the guiding limit.
Each branch and sub-branch shall submit the name list of the authorized banks to the State Administration of Foreign Exchange for
record within one month after being formally authorized.

IV.

The scope of supplying foreign exchanges to those who study abroad at their own expenses is enlarged, and the relevant policies in
the “Detailed Rules” for those who study abroad at their own expenses to purchase foreign exchanges are adjusted as follows:

(1)

The scope of supplying foreign exchanges to those who go to study abroad at their own expenses is enlarged from those who study for
foundation programs or above to all persons going to study abroad.

(2)

Those who go abroad to study at their own expenses may, upon strength of the prescribed documents of proof, purchase foreign exchanges
at the bank for their tuition and living expenses. The bank shall, with regard to anyone who is able to provide the documents of
proof on tuition and living expenses, and who purchases foreign exchanges at the amount of not more than the equivalent of 20,000
USD in each school year, sell foreign exchanges at the amount listed on the documents of proof; and shall, with regard to anyone
who purchases foreign exchanges in excess of the equivalent of 20,000 USD, sell foreign exchanges upon the approval document of the
foreign exchange bureau after examination. With regard to anyone who is unable to provide the documents of proof on tuition and living
expenses, the foreign exchanges shall be sold within the guiding limit prescribed in Paragraph 1 of Article 1 of the Circular.

Sale of foreign exchanges to the resident individuals who travel to the boarder areas of adjacent countries. If a resident individual
travel to the boarder area of an adjacent country, the guiding limit for him to purchase foreign exchanges shall be the equivalent
of 100 USD per day, and the maximum limit for him to purchase foreign exchanges shall be the equivalent of 500 USD per day.

VI.

The administrative provisions on purchasing foreign exchanges for outbound travel are revised.

(1)

If a resident individual purchases foreign exchanges from the bank for the purpose of outbound travel, the guiding limit for him to
purchase the foreign exchanges shall no longer include the group fee charged by the travel agency. The travel agency may separately
purchase foreign exchanges from the bank to pay the group fee.

(2)

The documents of proof in the “Detailed Rules”, which need to be provided for the purchase of foreign exchanges for outbound travel,
are simplified. A resident individual may bring the passport for private purpose and the valid visa (a group visa holder may bring
a photocopy of the group visa confirmed by the travel agency with a seal), and the identification card or permanent residence book
to go through the formalities of purchasing foreign exchanges in the bank.

VII.

If a resident individual holds the multiple-return visa (or permission stamp), he may, within the guiding limit for purchasing foreign
exchanges as prescribed in Article 1 of the Circular, purchase foreign exchanges from the bank, provided that the interval between
two purchases is no less than 30 days.

VIII.

With respect to the consumption or expenditure of a resident individual under overseas current accounts, including the part over the
guiding limit, the resident individual is permitted to go through the formalities of re-purchasing foreign exchanges in accordance
with the following provisions after he has come back into the territory on the premise that he can prove the authenticity:

(1)

Any resident individual holding a foreign currency credit card issued by a domestic bank is permitted to, either with his own foreign
exchanges or through purchasing foreign exchanges in a card-issuing bank with the credit card transaction bills issued by the card-issuing
bank, the identification card or permanent residence book and other documents of proof, repay the foreign exchange advanced money
he has overdrawn abroad.

(2)

A resident individual who is unable to provide foreign exchange guaranty bonds before applying for the foreign currency credit card
shall be permitted to, before exiting the territory, open a foreign currency credit card with its own RMB deposits as the guaranty
bonds.

(3)

A resident individual who is unable to hold his card for consumption or expenditure abroad due to a particular reason may, with respect
to his foreign exchange expenditure under current accounts such as payment of tuition for going abroad to study at his own expenses,
overseas hospitalization expenses, etc., bring the relevant documents of proof on consumption or expenditure abroad to the foreign
exchange bureau for examination of authenticity, and then bring the approval document of the foreign exchange bureau and other relevant
documents of proof to the bank to go through the formalities of re-purchasing foreign exchanges.

(4)

The method of write-off after verification after a resident individual has come back into the territory to re-purchase foreign exchanges
shall be automatic write-off.

IX.

Each designated foreign exchange bank shall, when selling foreign exchanges to resident individuals, strictly comply with the Circular
and other relevant provisions to use the management information system for domestic resident individuals to purchase foreign exchanges.
In consideration that the system is in adjustment at present, the re-purchase of foreign exchanges under the relevant credit cards
in the Circular is temporarily not incorporated into the system. The specific time of incorporation shall be separately notified
by the State Administration of Foreign Exchange.

Before the re-purchase of foreign exchanges under the credit card is incorporated into the management information system for domestic
resident individuals to purchase foreign exchanges, each bank selling foreign exchanges shall, within 10 working days at the beginning
of each month, submit its information of the preceding month on re-purchase of foreign exchanges under the credit card to the State
Administration of Foreign Exchange.

The Circular shall come into force on October 1, 2003. Other matters concerning the administration of purchase of foreign exchanges
by resident individuals, which are not involved in the Circular, shall still be subject to the governance of the “Detailed Rules”.
In case of any previous provision in conflict with the Circular, the Circular shall prevail.

Each branch shall, after receiving the Circular, transmit it to the central sub-branches and foreign-funded banks under its jurisdiction
as soon as possible; each Chinese-funded designated foreign exchange bank shall, after receiving the Circular, transmit to its branches
as soon as possible. In case of any question in the implementation, please timely inform it to the Department of Current Account
Administration under the State Administration of Foreign Exchange.

The State Administration of Foreign Exchange
2003-09-01

CIRCULAR OF THE GENERAL OFFICE OF THE MOFCOM ON PRINTING AND DISTRIBUTING INTERIM MEASURES FOR ADMINISTRATION OF PUBLIC COMMERCIAL INFORMATION SERVICE PROJECT

Circular of the General Office of the MOFCOM on Printing and Distributing Interim Measures for Administration of Public Commercial
Information Service Project

Shang Xin Zi [2003] No. 13

All entities of the Ministry of Commerce and all entities undertaking public commercial information projects:

In 2000, the former Ministry of Foreign Trade and Economic Cooperation printed and distributed the working provisions of the Grand
Collection of Export Commodities of China and the Grand Collection of Importers Directory of the World. Later, pursuant to the requirements
of the Interim Measures for the Administration of Use of the Foreign Trade and Economic Public Information Service Special Funds,
it formulated the provisions on the Administration of Contract of Undertaking Qualification in Foreign Trade and Economic Public
Information Service Project and the Provisions on Using Marks of Foreign Trade and Economic Public Information Service. These measures
and provisions impose an important effect on regulating public information service and improving the benefits from using the public
information service special funds.

The public information service project is an important part of the work of the Ministry of Commerce in transforming functions and
utilizing information technology to service the society and the broad masses of the people, and also is the specific embodiments
of practising the important thought of Three Represents and exercising the state power in the interest of the people. Nowadays the
public information services are encountering new situations and tasks, and the former administrative measures and provisions are
in need of synthesis, supplements, amendments and linkage. Thus, the Interim Measures for Administration of Public Commercial Information
Service Project is formulated in accordance with the requirements of the Interim Measures for the Administration of Use of the Foreign
Trade and Economic Public Information Service Special Funds, and in combination with the relevant contents of such working provisions
as the Grand Collection of Export Commodities of China and Grand Collection of Importers Directory of the World. Now the Ministry
of Commerce distributes it to you all, please implement it accordingly.

It is hereby notified.

Attachment: The Interim Measures for the Administration of Public Commercial Information Service Project

The General Office of the Ministry of Commerce

September 30, 2003
Attachment:
The Interim Measures for Administration of Public Commercial Information Service Project
Chapter I General Provisions

Article 1

The measures are formulated with a view to normalizing the administration of public commercial information service project, in accordance
with the provisions of the Ministry of Commerce on the budget administration and the Interim Measures for the Administration of Use
of the Foreign Trade and Economic Public Information Service Special Funds (hereinafter referred to as the Interim Measures).

Article 2

The fundamental aims of the public commercial information service are to strengthen the government’s function of public service,
and to carry out the principles of service and non-profitable.

Article 3

The public commercial information service shall implement the management mechanism of labor-division with individual responsibility
under overall planning with harmony. The Department of Information Technology is the business administrative entity of budget project,
the Department of Planning and Finance is the funds administrative entity of budget project, and the department or bureau that brings
forward proposal of budget project is the executive entity of the budget project.

Article 4

Public commercial information service project shall adopt the government procurement and contract administration. The enterprise,
institution and social organization as legal person, other organization or individual produced by the way of inviting public bidding
or authorization on the basis of competitive selection, is the undertaking entity of the budget project. The rights and obligations
of all parties to the project are stipulated by contract

Chapter II Organization and Leadership

Article 5

Pursuant to Article 26 of the Interim Measures, the name of the Editor Committee of the Grand Collection of Export Commodities of
China and the Grand Collection of Importers Directory of the World is changed into the Instruction Committee of Public Commercial
Information Service, which makes overall instructions to the work of public commercial information service.

Article 6

The main duties and responsibilities of the Instruction Committee of Public Commercial Information Service shall be:

To review and pass the overall plan and working scheme of public commercial information service;

To listen to the report of administrative, executive and undertaking entities, and review the implementation of public commercial
information service projects;

To research and decide important issues in the work of public commercial information service.

The ministerial leader of the Ministry of Commerce in charge shall assume the position of director of the Instruction Committee of
Public Commercial Information Service, and the position of vice-directors shall be assumed by the departmental leaders from the Ministry
of Finance, the Ministry of Foreign Affairs, the General Administration of Quality Supervision, Inspection and Quarantine, and the
Ministry of Commerce ( the Department of Information Technology, the Department of Planning and Finance), and member entities shall
be constituted by such departments as the General Office of the Ministry of Commerce, the Department of Planning and Finance, the
Department of International Trade, the Department of Import and Export of Electromechanical Products, the Department of Scientific
and Technological, the Department of Market Operation Regulation, the Department of Foreign Investment Administration, the Department
of Foreign Economic Cooperation, the Department of Information technology of the Ministry of Commerce. The member entities of the
Instruction Committee of Public Commercial Information Service may be supplemented or changed according to working needs in proper
time. The supplement or change of member entities shall be decided by director of the Instruction Committee of Public Commercial
Information Service.

The member entities of the Instruction Committee of Public Commercial Information Service separately appoint one departmental leader
as the member of the instruction committee, one divisional cadre as the liaison person of the Instruction Committee, the candidate
thereof shall be decided by the director of the Instruction Committee, and may be changed according to the actual situations.

Article 7

An office shall be established subordinating to the Instruction Committee of Public Commercial Information Service, and its main
duties and responsibilities shall be:

To research and put forward the overall plan and working scheme of public commercial information service;

To be responsible for organizing the proof of the implementation scheme of public commercial information service project and the
work of project target;

To fulfill each decision of the Instruction Committee of Public Commercial Information Service; and to accomplish other works assigned
by the Instruction Committee of Public Commercial Information Service.

The office of Instruction Committee of Public Commercial Information Service shall be established in the Department of Information
Technology, director of the office shall be assumed by the leader in the Department of Information Technology of Ministry of Commerce,
and the specific work shall be undertaken by the divisions in charge.

Chapter III Initiation and Examination of Project

Article 8

Each business department or bureau shall bring forward project suggestions according to respective business demand.

The Department of Information Technology of the Ministry of Commerce shall take charge of accepting the application for project initiation,
organizing the experts proof and examining on a consolidated basis.

Article 9

Preparation in advance and scientific decisions shall be made with respect to the project initiation. In the second quarter of every
year, the Department of Information Technology shall take charge of organizing the relevant departments, bureaus and experts to put
forward opinions about the arrangement of budget project for the next year on basis of adequate proof, which, after the departmental
meeting, will be submitted to the leader in charge for approval and act as the basis of budget arrangement of the next year. Before
all relevant departments and bureaus report the project suggestion for the next year to the Department of Information Technology,
it shall be discussed at departmental meeting of this entity.

Article 10

The initiation of public commercial information service project shall be overall planned to avoid repetitions. As for the projects
whose contents provide services to more than two business departments or bureaus, or for the same kind of projects, the Department
of Information Technology shall stick to the principle of overall consideration, carry through consolidation and amalgamation, and
implement uniform project initiation (the project shall be initiated uniformly), the Department of Information Technology shall be
the project executive entity; With respect to the project suggestion whose contents only involve in a single business department
or bureau, the Department of Information Technology and the business department or bureau shall jointly initiate the project (the
project shall be initiated jointly), and the business department or bureau shall be the project executive entity .

Chapter IV Planning of Project Implementation Scheme and Proof of Scheme

Article 11

After the project budget is officially replied to by the budget administrative department of the ministry and made known to lower
levels; the project executive entity shall be responsible for organizing the planning of project implementation scheme. The executive
entity may carry out the planning of scheme voluntarily or by authorization.

Article 12

Where planning by authorization is performed, the project executive entity shall select the superior planning entity, which shall
sign the Authorization Agreement on the Planning of Project Implementation Scheme. The planning expense of implementation scheme
shall be performed on the basis of 0.5% of the project budget, and shall be only paid to the undertaking entity of planning of project
implementation scheme after the planning of project implementation scheme passes the proof by way of bullet payment.

Article 13

The Office of the Instruction Committee of Public Commercial Information Service shall be responsible for organizing the work of
proving the implementation scheme.

After the project executive entity completes the planning of implementation scheme, it shall apply to the Office of the Instruction
Committee of Public Commercial Information Service for the proof of project implementation scheme. The application materials include:
the time and place of expecting to organize the proof; the nominating materials of 3-5 experts attending the proof meeting; the Planning
Documents of Project Implementation Scheme. Where it is the planning by authorization, the Authorization Agreement on the Planning
of Project Implementation Scheme shall be provided.

Article 14

The proof of project implementation scheme shall be presided by director of the Office of the Instruction Committee of Public Commercial
Information Service or the person appointed thereby. The attendees shall consist of the representatives from the member entities
of the Instruction Committee of Public Commercial Information Service and experts.

Where it is the planning by authorization, the undertaking entity of planning shall not send anyone to attend the proof, and the proof
experts shall not have any interested relations with the undertaking entity of planning.

The key points in proving the project implementation scheme are: whether the project implementation scheme conforms to the overall
construction planning of public commercial information; whether it accords with the utilizing orientation of special funds; whether
it overlaps the constructed project of public commercial information service; whether it is scientific and effective.

After the completion of the proof meeting, the proof conclusion shall be produced by the Office of the Instruction Committee of Public
Commercial Information Service. The proof conclusion is either proof passed or to prove again after modification.

Chapter V the Selection of Project Undertaking entity

Article 15

The selection of project undertaking entity shall not carried out until the implementation scheme of public commercial information
service project passes the proof. The undertaking of project shall be produced by either public bidding invitation or the authorization
on the basis of competitive selection. Where the laws and regulations of invitation to bids of PRC have stipulation concerned, and
the conditions of the invitation to bids are satisfied, the project undertaking entity shall be selected by the means of public invitation
to bids or private invitation to bids.

Article 16

The project undertaking entity selected by invitation to bids shall adopt the fixed price of invitation to bids. The term “fixed
price of invitation to bids” refers to the fixed price that takes the price of the winning bidder as the payment price.

The project undertaking entity selected by the authorization on the basis of competitive selection shall adopt the audit fixed price.
The term “audit fixed price” refers to the fixed price that only determines undertaking qualification and budgetary estimate sum,
passes the audit confirmation, and takes the audit price as the payment price.

As to the project of undertaking entity selected by invitation to bids, where more changes in workload are likely to occur during
the implementation of project, the audit fixed price may be adopted.

Article 17

As the bid inviting party, the Office of the Instruction Committee of Public Commercial Information Service shall organize and implement
uniformly the bid invitation of public commercial information service pursuant to the relevant provisions of the invitation to bids
laws and regulations of PRC. The bid invitation documents shall be ratified by the director of the Office of the Instruction Committee
of Public Commercial Information Service.

Article 18

Where the bid invitation agency carries out the bid invitation matters, the bid invitation agency shall be chosen by invitation to
bid and sign the Agreement of Authorization of Bid Invitation Agency. The agency expenses shall be performed on the basis of 0.5%
of the project budget sum, and shall be paid by way of bullet payment at the completion of bid invitation.

Article 19

The Office of the Instruction Committee of Public Commercial Information Service shall take charge of organizing and establishing
the bid evaluation committee which consists of project executive entity and the experts recommended by member entities of the Instruction
Committee of Public Commercial Information Service. The members of the evaluation committee shall be odd number. The Bureau of Discipline
Supervision & Investigation of the Ministry of Commerce shall sent representative to supervise the evaluation.

Article 20

The members of the bid evaluation committee may exercise the power of bid evaluation independently in accordance with the requirements
of the bid inviting party or bid invitation agency. The bid inviting party or bid invitation agency shall be responsible for consolidation
the opinions of the bid evaluation committee. Generally, the first winning bidder shall be the one with the highest comprehensive
evaluation scores.

Article 21

After the end of the bid evaluation, project executive entity and the first winning bidder shall conduct the negotiation and draft
contract.

Article 22

The project undertaking entity determined by invitation to bid and the contract drafted ready for signing shall be examined and approved
by the director of the Instruction Committee of Public Commercial Information Service. After approval, a letter of acceptance or
rejection shall be issued to the bidder, and the undertaking contract shall be signed by the project executive entity, business administrative
entity and project undertaking entity.

Article 23

As to the project which is inappropriate to select the undertaking entity by invitation to bid, or the fragmentary business that
is uneconomical to have invitation to bid, the project executive entity may determine the undertaking entity by the authorization
on the basis of competitive selection.

To determine the undertaking entity by the authorization on the basis of competitive selection shall meet the one or many of the following
requirements:

Only very few entities can undertake the business of project;

The sum of the project is less than 800,000 RMB; (the Circular of the General Office of the State Council on Printing and Distributing
the Government Centralized Procurement Catalogue and Standard for the Central Budgetary Institutions in 2003) (the standard of the
sum for public invitation to bid of the government procuring goods and services prescribed by the document of Guo Ban Fa [2003] No.14
)

Continued by former undertaking entity selected by the invitation to bid.

Article 24

The project executive entity determines the undertaking entity by the authorization on the basis of competitive selection, which
shall be researched and passed by the Division meeting of the Department of Information and Technology and be reported to the director
of Instruction Committee of Public Commercial Information Service for approval. The materials to report for approval shall include
the reason for adopting the authorization on the basis of competitive selection and the contract draft ready for signing.

After approval, the undertaking contract shall be signed by the project executive entity, business administrative entity and project
undertaking entity.

Article 25

The selection of project undertaking entity for matured contract may re-conduct the invitation to bid, or be continued by the former
undertaking entity.

Where the re-invitation to bid is adopted, it shall be performed pursuant to the provisions concerning invitation to bid in the Measures.
Where the continuance of undertaking by the former undertaking entity is adopted, it shall be performed in accordance with the provisions
concerning the authorization on the basis of competitive selection in the measures.

Chapter VI Check and Acceptance, Audit, Inspection and Control of Project

Article 26

After signing the undertaking contract of the public commercial information service project, the business administrative entity and
executive entity shall strengthen the administration of contract by the means of check and contract acceptance, audit, inspection
and control, etc.

Article 27

The check and acceptance of project shall be organized by the project executive entity. The working group of check and acceptance
shall consist of representatives from member entities of the Instruction Committee of Public Commercial Information Service, each
of which sends one representative respectively. In the work of checking and accepting, the measurement and determination of the relevant
index shall be produced by the third party authorized by the project executive entity.

Article 28

The project of carrying out the audit fixed price shall be applied by the Office of the Instruction Committee of Public Commercial
Information Service, and the Department of Planning and Finance shall carry out the project audit and expenses confirmation in accordance
with the requirements of the Administration of Contract of Undertaking Qualification in Foreign Trade and Economic Public Information
Service Project (Guo Dian Shang Bian Han Zi NO.30).

The accountant firm shall be produced by the invitation to bid of the budget administrative committee of the Ministry of Commerce,
whose rights and obligations shall be determined by the Agreement of Audit Business.

Article 29

The overall check and acceptance report and audit report of the project shall be ratified by the director of Instruction Committee
of Public Commercial Information Service.

Article 30

The undertaking entities of all projects shall use the logs-filing systems of undertaking entities to fill in the working logs seriously
as the basis of check and acceptance of project and financial audit.

Chapter VII Project Spread, Marks Use and Data Storage

Article 31

The public commercial information service project shall conform to the principle of uniform project promotion, marks use, data storage.

Article 32

The public commercial information service project shall organize promotion activities, including attending exhibition, organizing
symposium and introduction meeting, training, making show shelves, printing all kinds of propaganda materials, etc. The undertaking
entity of promotion activities shall be produced by the invitation to bid or the authorization on the basis of competitive selection.

Article 33

The public commercial information service project with the direct or indirect aids from the special funds (including but unlimited
to all kinds of media publications, symposium, training and promotion activities etc.) shall be uniformly use the uniform marks of
public commercial information service. The specific requirements shall be enforced by the Provisions on Utilizing Marks of Foreign
Trade and Economic Public Information Service (Wai Jing Mao Guo Dian [2002] NO. 23).

Article 34

All kinds of working plans, the signed agreements and financial materials etc. which are produced , filed and preserved by the project
undertaking entity during the period of implementing the public commercial information service project, shall be reserved for not
less than five years. If there are provisions as otherwise stipulated in other laws, such provisions shall be followed.

The copyrights and rights to use of all kinds of electronic data, written materials produced during the period of implementing the
public commercial information service projects shall belong to the Ministry of Commerce. No undertaking entity may use or copy for
profits without authorization, examination and determination.

All public commercial information service projects shall store the data uniformly.

Each project undertaking entity shall copy the relevant data to the data consolidation center of the public commercial information
service, which shall administrate uniformly.

The data consolidation center of the public commercial information service shall be produced by the invitation to bid.

Chapter VIII Periodic Report and Information Disclosure

Article 35

The business administrative entity and project executive entity shall organize periodically the compiling of the performance reports
of special funds in accordance to the relevant provisions and requirements of the current budget administration.

Article 36

The business administrative entity shall take charge of establishing the website of project administration and publicize the content
of the measures for the administration of the special funds, administrative process, aids projects, check and acceptance reports,
audit reports and contract texts etc. The business administrative entity shall compile the annual reports and publicize to society
at the end of the annual financial year.

Chapter IX Supplementary Provisions

Article 37

The relevant working provisions of the former Grand Collection of Export Commodities of China and Grand Collection of Importers Directory
of the World shall be abolished after the implementation of the present Measures.

Article 38

The present Measures shall be interpreted by the Department of Information and Technology of the Ministry of Commerce.

Article 39

The present Measures shall be implemented as of the date of promulgation.

The General Office of the Ministry of Commerce
2003-09-30

CIRCULAR ON THE FOLLOW-UP CONTROL OF CERTAIN INCOME TAX TREATMENT OF ENTERPRISES WITH FOREIGN INVESTMENT AND FOREIGN ENTERPRISES AFTER THE LIFTING OF THE EXAMINATION AND APPROVAL PROCEDURE FOR SUCH TREATMENT

State Administration of Taxation

Circular on the Follow-up Control of Certain Income Tax Treatment of Enterprises with Foreign Investment and Foreign Enterprises After
the Lifting of the Examination and Approval Procedure for Such Treatment

[2003] No.127 of the State Administration of Taxation

October 24, 2003

The administrations of state taxation and the administrations of local taxation of the provinces, autonomous regions, municipalities
directly under the central government, and cities directly under state planning, and the entities under those administrations:

The present Circular is hereby issued for the follow-up control of certain income tax treatment of enterprises with foreign investment
and foreign enterprises (hereinafter referred to as “enterprise”) after the administrative examination and approval procedures for
such treatment is lifted by the State Council in accordance with the Circular of the Leading Group Under the State Council for the
Reform in the Administrative Examination and Approval System Concerning the Opinions on the Follow-up Work for the Items the Readjustment
of Administrative Examination and Approval Procedures, and with a view of implementing of the Decision of the State Council on Lifting
the Administrative Examination and Approval Procedures for the Second Batch of Items and Changing the Administrative Manners for
A Batch of Items:

The follow-up control of the standard for enterprises’ itemizing the wages of and welfare funds for their workers and staff after
the lifting of the examination and approval procedures for such standard

The standard for the itemization of wages of and welfare fund for the workers and staff of an enterprise should, together with the
documents applied for determining such standard and other relevant materials, be subject to the examination and approval of the local
tax authorities according to Article 24 of the Rules for the Implementation of the Income Tax Law of People’s Republic of China
for Enterprises with Foreign Investment and Foreign Enterprises (hereinafter referred to as “Rules for the Implementation of the
Income Tax Law”). After the lifting of such examination and approval procedures, when the enterprise submits its annual income tax
returns it shall, concurrently submit the standard for itemized wages and welfare fund and the relevant materials such as application
documents for determining such standard to the competent tax authorities for archival purposes. No further submission is required
if there is no change in the standard of wages and welfare fund afterwards; If there is any change in the standard, the enterprise
shall, when submitting its annual income tax returns, submit such change to the competent tax authorities for archival purposes.

The local tax authorities shall carefully examine the documents submitted by enterprises regarding the wages of and welfare funds
for the workers and staff of the enterprises. The standard for itemizing the welfare funds shall be in accordance with the standard
specified in the Circular of the State Administration of Taxation Concerning the Tax Treatment of the Funds for Medical Insurance
Other Than the Three Reserves as Retained by Enterprises with Foreign Investment and Foreign Enterprises for Their Employees.

Follow-up control after the lifting of the approval procedures bad debt reserves

An enterprise which is engaged in the credit and leasing business may, in the light of the actual conditions and subject to the prior
approval of the local tax authorities, provide a bad debt reserve as not exceeding 3% of the amount of its year-end loan balance
(not including inter-bank short-term loans) or the amount of its year-end accounts receivable and bills receivable, which may be
deducted from the taxable income for the year in accordance with Article 25 of the Rules for the Implementation of the Income Tax
Law. The enterprises engaged in the business mentioned above may provide bad debt reserves in the light with the relevant provisions
after the above-mentioned approval procedure is lifted. Local tax authorities shall examine the annual income tax returns, and the
items of “loan balances”, “accounts receivable” and “bills receivable” in the accounting statements submitted by the enterprises
engaged in the above-mentioned business, and confirm the bad debt reserves. Enterprises that are engaged in any business other than
credit and leasing are generally not permitted to provide bad debt reserves, unless they have a relatively large balance of accounts
receivable and there is a need to provide bad debt reserve, such provision shall still be handled according to Article 9 of the
Circular of the State Administration of Taxation Concerning Certain Tax Treatment in the Implementation of the Income Tax Law for
Enterprises with Foreign Investment and Foreign Enterprises.

Follow-up control of accelerated depreciations of fixed assets of Chinese-foreign contractual joint ventures after the lifting of
the examination and approval procedure for such depreciations

In the light with Item (3) of the second paragraph of Article 40 of the Rules for the Implementation of the Income Tax Law, a Chinese-foreign
contractual joint venture may make provisions for depreciation based on its duration of operation if the duration is shorter than
the depreciable life specified in Article 35 of the Rules for the Implementation of the Income Tax Law and the fixed assets are
to be owned by the Chinese party after the duration of operation of the Chinese-foreign contractual joint venture. After the lifting
of the examination and approval procedures for the above-mentioned accelerated depreciation, a Chinese-foreign contractual joint
venture may make provisions for depreciation of its fixed assets on the basis of its duration of operation or the remaining duration
of operation if the duration is shorter than the depreciable life specified in Article 35 of the Rules for the Implementation of
the Income Tax Law and the fixed assets are to be owned by the Chinese party after the duration of operation of the Chinese-foreign
contractual joint venture. The enterprise shall submit such information to the competent tax authorities for archival purposes as
purchasing price, time of purchase, purpose of use and provisions for depreciation of the above-mentioned fixed assets.

Follow-up control of the retaining of lower or no scrap value of fixed assets after the lifting of the examination and approval procedures
for such treatment

In the light with Article 33 of the Rules for the Implementation of the Income Tax Law, in calculating the depreciation of fixed
assets of an enterprise, a scrap value of the fixed assets should be evaluated and deducted from the cost price of the fixed assets.
The scrap value should not be lower than 10% of the cost price; any treatment as retaining lower or no scrap value should be subject
to the approval of the local tax authorities. After the lifting of the above-mentioned examination and approval procedure, the scrap
value of the fixed assets newly purchased and put into operation by an enterprise shall be temporarily determined as 10% of the cost
price for the purpose of depreciation. The enterprise may retain no scrap value if it is predictable that any fixed asset of an enterprise
cannot be sold off or have no value of selling-off after its service life.

Follow-up control of reduction of income taxes payable by export-oriented enterprises after the lifting of the examination and approval
procedures for such reduction

In the light with Article 75 (7) of the Rules for the Implementation of the Income Tax Law, after the period of reduction or remission
of its income tax under the tax law has expired, if the export-oriented enterprise has exported its products up to 70% of its total
value of products for the year, this enterprise with foreign investment may further enjoy a reduction of income tax by 50%. The enterprise
shall submit a certification issued by the competent authorities to the local tax authorities for examination and approval. After
the lifting of the above-mentioned examination and approval procedures, the enterprises enpost_titled to the above-mentioned preferential
treatment shall concurrently submit the following certifications when submitting their annual income tax returns:

(1)

A valid certificate issued by the competent authorities which certifies that the enterprise is an export-oriented enterprise for the
year; and

(2)

A certification issued by the relevant authorities which prove that the enterprise has exported its products up to 70% of its total
value of products for the year.

The competent tax authorities shall strictly examine the total value of products and the export value of the enterprise, cooperate
with other departments involved, establish a system for information communication strengthen coordination and agree on a uniform
standard.

Follow-up control of proceeds from the investment of non-monetary assets of enterprises with foreign investment after the lifting
of the examination and approval procedure for such incomes

In the light with Article 2 of the Circular of the Ministry of Finance and the State Administration of Taxation Concerning Certain
Problems of Taxation Relating to the Business of Investment by Enterprises with Foreign Investment, in the case that any enterprise
with foreign investment makes investment by physical goods, intangible assets or other non-monetary assets to any other enterprise,
the balance between the price of the assets as evaluated for the investment and the original net book value of the assets shall be
treated as proceeds from a transfer of property and be included in the period taxable income. If the amount of the net proceeds is
relatively large and it is difficult for the enterprise to pay tax on such proceeds in the current period, the enterprise may, subject
to approval of the local tax authorities, carry forward the proceeds in equal installments to the taxable incomes over a maximum
period of five years. After the lifting of the examination and approval procedures mentioned above, if the amount of the net proceeds
as mentioned above is relatively large, the enterprise may, at its own discretion, decide to carry forward the proceeds in equal
installments to the taxable incomes over a maximum period of five years, and the amount of the proceeds and the carry-forward thereof
shall be stated by the enterprise in its relevant annual income tax returns. Once the period for carrying forward the proceeds is
decided by the enterprise, no change may be made.

Follow-up control of the deduction of expenses for technological development from the taxable incomes of enterprises with foreign
investment after the lifting of the examination and approval procedures for such deduction

In the light with the Circular of the State Administration of Taxation Concerning the Deduction of Expenses for Technological Development
from Taxable Incomes of Enterprises with Foreign Investment (No. [1999] 173 of the State Administration of Taxation), in the case
that the annual expenses for technological development of an enterprise with foreign investment increase at least by 10% as compared
to those of the last year, a further deduction of 50% of such expenses may, after being examined and approved by the tax authorities,
be made from the taxable income of the enterprise for the current year. After the lifting of the examination and approval procedures
mentioned above, enterprises enpost_titled to the above-mentioned preferential policy shall concurrently submit the following materials
when submitting their annual income tax returns:

(1)

The technological development plans and budget program prepared for the year by the enterprise with foreign investment;

(2)

Information about the technological research staff of the enterprise with foreign investment;

(3)

The technological development expenses of the enterprise with foreign investment;

(4)

The technological development expenses incurred in the last year to the enterprise with foreign investment; and

(5)

Other documents which may be required by the taxation authorities.

The competent tax authorities shall strictly examine the documents mentioned above in the light with the document No. [1999] 173 of
the State Administration of Taxation and the supplementary provisions thereof. No deduction of expenses for technological development
may be made from the taxable income unless complying with the relevant provisions and with the above-mentioned documents submitted.

Follow-up control of the carry-forward in equal installments of a large amount of non-monetary assets received by an enterprise as
donation to the taxable incomes over a maximum period of five years after the lifting of the approval procedures for such carry-forward

In the light with the Circular of the State Administration of Taxation Concerning the Tax Treatment of Donations Received by Enterprises
with Foreign Investment and Foreign Enterprises, non-monetary assets received by an enterprise as donation shall be entered into
the relevant account at a price reasonably evaluated and be included in the taxable income of the enterprise for the year. In the
case that the donation is in a relatively large amount and it is difficult for the enterprise to include it all in the taxable income
for the current year, the enterprise may, subject to the approval of the local tax authorities, carry forward the donation in equal
installments to the taxable incomes of the enterprise over five years. After the lifting of the approval procedures mentioned above,
an enterprise may, at its discretion, decide to carry forward a donation of relatively large amount in equal installments to its
the taxable incomes over a maximum period of five years, and the enterprise shall state such donation and the carry-forward thereof
in its income tax returns for the corresponding periods. Once it is decided by the enterprise, no change may be made to the period
for such carry-forward.

Follow-up control of the exemption of individual income tax on external social insurance expenses for employees of enterprises with
foreign investment and foreign enterprises after the lifting of the approval procedures for such exemption

In the light with the Circular of the State Administration of Taxation Concerning the Income Tax Treatment of the External Insurance
Expenses for Employees of Enterprises with Foreign Investment and Foreign Enterprises, the external insurance expenses paid by an
enterprise for its employees working in China without being deducted from the taxable income of the enterprise may, after getting
approval from the local tax authorities, be excluded from the employees’ individual taxable incomes, if such insurance expenses are
of social security nature and must be borne by the employer in accordance with to the relevant regulations of the country . After
the lifting of the approval procedures mentioned above, in the case of the above-mentioned circumstances, the enterprise shall, when
submitting the individual income tax withholding table, concurrently submit to the local tax authorities a copy of certificate of
identity of the employee and the legal document of the country concerned requiring the employer to pay the expenses of social security
nature. The local tax authorities shall examine the above-mentioned documents submitted by the enterprise and, if the relevant requirements
are satisfied, allow the exclusion of the expenses from the employee’s individual taxable income.

10.

The present Circular shall go into effect as of January 1, 2003.

State Administration of Taxation
2003-10-24

MEASURES FOR THE ADMINISTRATION OF HONG KONG LAW PRACTITIONERS AND MACAO PRACTICING LAWYERS HIRED AS LEGAL ADVISORS IN MAINLAND LAW FIRMS

Ministry of Justice

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

No. 82

The Measures for the Administration of Hong Kong Law Practitioners and Macao Practicing Lawyers Hired As Legal Advisors in Mainland
Law Firms were deliberated and adopted at the ministerial executive meeting on November 27th, 2003. They are hereby promulgated and
shall come into force as of January 1st, 2004.

Zhang Fusen, Minister of the Ministry of Justice

November 30th, 2003

Measures for the Administration of Hong Kong Law Practitioners and Macao Practicing Lawyers Hired As Legal Advisors in Mainland Law
Firms

Article 1

The present Measures are formulated with a view to carrying out the Mainland and Hong Kong Closer Economic Partnership Arrangement
and the Mainland and Macao Closer Economic Partnership Arrangement and to regulating and administering the activities of Hong Kong
law practitioners and Macao practicing lawyers hired as legal advisors in Mainland law firms.

Article 2

“Hong Kong law practitioners” as mentioned in the present Measures refers to the permanent residents of Hong Kong who have registered
in the panel of solicitors or the panel of barristers in accordance with relevant regulation of Hong Kong and whose profession qualification
as a solicitor or counsel hasn’t been suspended.

“Macao practicing lawyers” as mentioned in the present Measures refers to the permanent residents of Macao who are practicing lawyers
and have registered in Macao law society.

Article 3

The law practitioners of Hong Kong and the practicing lawyers of Macao who are hired as legal advisors in the Mainland law firms,
may merely handle the approved legal services in Hong Kong, or Macao, or any country other than China.

The law practitioners of Hong Kong and the practicing lawyers of Macao hired as legal advisors in the Mainland law firms shall accept
the supervision and administration of the Mainland judicial administrative organs.

Article 4

A law practitioner of Hong Kong hired as a legal advisor in a Mainland law firm shall file an application for a Hong Kong Legal Advisor
Certificate in accordance with the present Measures.

A practicing lawyer of Macao hired as a legal advisor in a Mainland law firm shall file an application for the Macao Legal Advisor
Certificate in accordance with the present Measures.

Article 5

A Hong Kong legal practitioner or a Macao practicing lawyer, who meets the following conditions, may file an application to the Mainland
judicial administrative organ for a Hong Kong or Macao Legal Advisor Certificate:

(1)

He has practiced law in Hong Kong or Macao for 2 full years;

(2)

He has no record of any criminal punishment or has no record of any other punishment due to violation of the lawyers’ professional
moral and disciplinary code; and

(3)

A Mainland law firm agrees to employ him.

Article 6

A Mainland law firm, which meets the following conditions, may hire Hong Kong law practitioners and Macao practicing lawyers as Hong
Kong legal advisors and Macao legal advisors of the firm:

(1)

It has been 3 full years since its establishment;

(2)

There are at least 10 full-time lawyers;

(3)

In recent 3 years, it hasn’t been given any administrative punishment or guild sanction.

The number of Hong Kong legal practitioners and Macao practicing lawyers shall not exceed one fifth of the total number of the full-time
lawyers.

Article 7

A Hong Kong legal practitioner or a Macao practicing lawyer shall, if he applies for a certificate of Hong Kong or Macao legal advisor,
submit the following materials via the Mainland law firm that plans to hire him as its legal advisor:

(1)

An application;

(2)

A photocopy of the applicant’s identity certificate;

(3)

A photocopy of the Hong Kong legal practitioner’s or Macao practicing lawyer’s professional qualification certificate;

(4)

Where the applicant with a foreign lawyer’s qualification is admitted to practice law, he shall submit a photocopy of the lawyer’s
profession qualification certificate;

(5)

The evidential materials that can demonstrate the applicant have practiced law for 2 full years;

(6)

The certification issued by the Hong Kong or Macao law firm where the applicant holds a position, showing its consent to the applicant’s
being hired by the Mainland law firm;

(7)

The evidential materials issued by Hong Kong or Macao lawyer’s regulatory institution, showing that the applicant has no record of
any criminal punishment or any punishment due to violating lawyers’ professional moral and disciplinary code;

(8)

The certification about the applicant to be hired as issued by the Mainland law firm and the evidential materials that demonstrate
that the applicant meets the employment requirements.

The evidential materials as listed in Items 2 through 5 of the preceding paragraph shall be subject to the notarization of a notary
that is acknowledged in the Mainland.

The application materials shall be in Chinese and in triplicate. Where any of the materials is in a foreign language, it shall be
accompanied by a Chinese translation.

Article 8

The judicial administrative organ of the prefecture level where the Mainland law firm is located shall complete the examination within
10 days from receiving the application materials of a Hong Kong Legal Practitioner or Macao practicing lawyer and issue examination
opinions. The examination opinions shall be submitted and reported to the judicial administrative organ together with the application
materials.

Article 9

A judicial administrative organ on the province level shall complete the examination within 20 days from receiving the application
materials. With regard to the applicants who meet the requirements as prescribed in the present Measures, they shall be admitted
to be hired as legal advisors and shall be registered, to each of whom a Hong Kong or Macao legal advisor certificate shall be issued.
For those who don’t meet the requirements as prescribed in the present Measures, none of them may be hired as legal advisor in the
Mainland, and a written notice shall be sent to the applicants and the Mainland law firms that intend to hire them as legal advisors.

The provincial judicial administrative organ shall, within 30 days from the issuance of Hong Kong or Macao legal advisor certificate
to the applicants, submit the relevant registration materials and the examination opinions to the Ministry of Justice for archival
purposes.

Article 10

A Hong Kong legal practitioner or Macao practicing lawyer may be hired as a legal advisor by only one Mainland law firm, but may not
be hired by a foreign law firm simultaneously, and may not take the position of a representative in the representative office set
up in the Mainland by a Hong Kong or Macao law firm at the same time.

Article 11

Any Hong Kong or Macao legal advisor may not provide Mainland legal services.

Article 12

In case a Hong Kong or Macao legal advisor provides legal services in the Mainland, he shall be entrusted by a Mainland law firm,
which shall charge fees uniformly. No one may provide legal services without entrustment and charge fees by himself.

Article 13

A Hong Kong or Macao legal advisor shall follow the laws, regulations and rules of the state, scrupulously abide by the lawyers’ professional
moral and disciplinary code, and may not impair the safety of the state or the public good.

Article 14

A Hong Kong or Macao legal advisor and the Mainland law firm shall enter into an employment agreement, which shall stipulate for their
respective rights, duties and liabilities for breach of law.

Article 15

A Hong Kong or Macao legal advisor certificate shall be subject to the annual registration of the provincial judicial administrative
organ. Those without going through the annual registration shall be null and void.

Article 16

Where a Hong Kong or Macao legal advisor commits any of the following offences, he shall be given a warning by the judicial administrative
organ of the prefecture level and shall be ordered to correct within a time limit; in case he fails to correct within the time limit,
he shall be imposed on a fine of not more than 10, 000 Yuan. Where there is any illegal income, he shall be imposed on a fine of
not less than the same amount of but not more than 3 times of the amount of the illegal income, and which may not be more than 30,
000 Yuan:

(1)

He is hired by at least 2 Mainland law firms at the same time;

(2)

At the same time, he is a representative of the representative office established in the Mainland by a Hong Kong or Macao law firm;

(3)

He is hired by a foreign law firm simultaneously;

(4)

He provides legal services without permission or charge the parties concerned fees without permission;

(5)

He is engaged in the Mainland legal services; or

(6)

Other punishable acts due to violating the laws, regulations and rules.

Where a Hong Kong or Macao legal advisor violates the provisions of the preceding paragraph and the circumstance is very serious,
the Mainland law firm shall terminate the employment with him.

Article 17

Where a Mainland law firm commits any of the following offences, it shall be given a warning by the judicial administrative organ
of the prefecture level and be ordered to correct within a time limit; in case it fails to correct within a time limit, it shall
be imposed on a fine of not more than 10, 000 Yuan; if there is any illegal income, it shall be imposed on a fine of not less than
the same amount of but not more than three times of the amount of the illegal income, and may not be more than 30, 000 Yuan:

(1)

Without approval, it hires any Hong Kong legal practitioners or Macao practicing lawyers as its legal advisor;

(2)

It fails to adopt uniform entrustment and uniform charges in relation of the legal services provided by Hong Kong practitioners or
Macao practicing lawyers;

(3)

For the offences of Hong Kong legal practitioners or Macao practicing lawyers, it shall be liable for its negligence in management;
or

(4)

Other punishable acts violating the laws, regulations and rules.

Article 18

Where the offences or faults of any Hong Kong or Macao legal advisor result in losses to a party concerned, the Mainland law firm
that hires him as a legal advisor shall be liable for compensations. After the law firm has made the compensations, it may demand
recovery of part of or all of the compensations from the Hong Kong or Macao legal advisor responsible for the direct liabilities.

Hong Kong or Macao legal advisor shall buy insurance in the Mainland.

Article 19

Any of the judicial administrative functionaries in violation of the laws, regulations and rules shall be given an administrative
punishment. If any crime is constituted, he shall be subject to criminal liabilities. .

Article 20

The responsibility to interpret the present Measures shall remain with the Ministry of Justice.

Article 21

The present Measures shall enter into effect as of January 1st, 2004.

Ministry of Justice
2003-11-30

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Constitution

The basic law

Concluding and Transitional Provisions

LETTER OF THE MINISTRY OF COMMERCE CONCERNING ASSISTING THE ESTABLISHMENT OF AN AID WORK MECHANISM FOR LABOR SERVICE ASSIGNED ABROAD

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE CUSTOMS RANKS

AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF GUYANA ON THE PROMOTION AND PROTECTION OF INVESTMENTS

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON ISSUES RELATING TO THE TAX TREATMENT OF ENTERPRISES WITH FOREIGN INVESTMENT WHICH FOREIGN INVESTOR’S CAPITAL CONTRIBUTION LOWER THAN 25%

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON STRENGTHENING THE WORKS RELATING TO WITHHOLDING AND PAYMENT OF THE INDIVIDUAL INCOME TAX FROM INTERESTS OF ENTERPRISES BOND

MEASURES FOR PRICE ADMINISTRATION OF WATER SUPPLY OF WATER ENGINEERING

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON ADJUSTING THE POLICIES FOR DOMESTIC RESIDENT INDIVIDUALS TO PURCHASE FOREIGN EXCHANGES UNDER CURRENT ACCOUNTS

CIRCULAR OF THE GENERAL OFFICE OF THE MOFCOM ON PRINTING AND DISTRIBUTING INTERIM MEASURES FOR ADMINISTRATION OF PUBLIC COMMERCIAL INFORMATION SERVICE PROJECT

CIRCULAR ON THE FOLLOW-UP CONTROL OF CERTAIN INCOME TAX TREATMENT OF ENTERPRISES WITH FOREIGN INVESTMENT AND FOREIGN ENTERPRISES AFTER THE LIFTING OF THE EXAMINATION AND APPROVAL PROCEDURE FOR SUCH TREATMENT

MEASURES FOR THE ADMINISTRATION OF HONG KONG LAW PRACTITIONERS AND MACAO PRACTICING LAWYERS HIRED AS LEGAL ADVISORS IN MAINLAND LAW FIRMS

CONSTITUTION ACT, 1982 – page 22

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

CONSTITUTION ACT, 1982 – page 17

CONSTITUTION ACT, 1982 – page 16

CONSTITUTION ACT, 1982 – page 12

CONSTITUTION ACT, 1982 – page 11

CONSTITUTION ACT, 1982 – page 10

CONSTITUTION ACT, 1982 – page 9

CONSTITUTION ACT, 1982 – page 8

CONSTITUTION ACT, 1982 – page 7