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PROVISIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON THE CUSTOMS ADMINISTRATION OF DECLARATION FOR THE IMPORT AND EXPORT OF GOODS

Customs General Administration

Decree of the General Administration of Customs of the People’s Republic of China

No.103

The Provisions of the People’s Republic of China on the Customs Administration of Declaration for the Import and Export of Goods have
been deliberated and adopted at the director’s executive meeting. They are hereby publicized and shall go into force as of November
1st, 2003.

Mou Xinsheng, Director of the General Administration of Customs

September 18th, 2003

Provisions of the People’s Republic of China on the Customs Administration of Declaration for the Import and Export of Goods

Chapter 1 General Provision

Article 1

With a view to standardizing the declaration of import and export goods, the present Provisions are formulated in accordance with
the Customs Law of the People’s Republic of China and other relevant laws, administrative regulations concerning the administration
of import and export.

Article 2

The term “declaration” mentioned in the present Provisions means that the consignor and consignee of import and export goods and the
agent declaration enterprises declare to the customs about the actual situation of the import and export goods and accept the verification
of the customs in the specified period and location by tendering electronic or paper declaration forms in accordance with the Customs
Law and other relevant administrative regulations and rules.

Article 3

The present Provisions shall be applicable to the various procedures of declaration of import and export goods that the consignor
and consignee of export and import goods and the agent declaration enterprises go through, unless it is otherwise provided for by
other regulations.

Article 4

The consignor and consignee of export and import goods may declare to the customs by themselves or entrust customs declaration enterprises
to declare to the customs on their behalf.

The consignor and consignee of export and import goods and the agent declaration enterprises shall be registered at the customs in
advance for going through customs declaration procedures.

Article 5

Both electronic declaration form or paper declaration form can be used in the declaration procedures, and both are of identical legal
effect.

Electronic declaration refers to the way in which the consignor and consignee of export and import goods and the agent declaration
enterprises transmit to the customs via computer systems the electronic data of customs declaration and the relevant attached documents,
pursuant to the Customs Regulation of the People’s Republic of China on Filling in the Declaration Form for Import and Export Goods.

Paper declaration refers to the way in which the consignor and consignee of export and import goods and the agent declaration enterprises,
in light of the regulations of the customs, fill in the paper declaration forms and prepare the attached documents, with which the
declaration is made vis-￿￿-vis to the customs office.

The consignor and consignee of export and import goods and the agent declaration enterprises shall declare to the customs by providing
electronic declaration form, with which the paper declaration form submitted jointly with the attached documents shall comply. Under
special circumstances, it is permitted to present paper declaration forms in advance, upon the approval of the customs office involved,
with the electronic data to be declared afterwards conforming to the paper declaration forms. Customs declarations may be made in
paper form to the customs offices that have not adopted the information administration system.

Article 6

The personnel handling the declaration procedures for the consignor and consignee of export and import goods and the agent declaration
enterprises shall be the qualified customs agents registered at the customs. No one who has not obtained the qualifications of a
customs agent or who has not been registered at the customs may go through the procedure of customs declaration.

The customs agents shall, in accordance with the laws and regulations concerning the customs declaration, carry out their activities.
The agents and the enterprise they are affiliated with shall take corresponding legal responsibilities for the customs declaration
of the agents unless otherwise provided for in any law, administrative regulation or rule.

Chapter 2 Requirements of Customs Declaration

Article 7

The consignor and consignee of export and import goods and the agent declaration enterprise shall declare to the customs offices according
to the facts and the laws, and take corresponding legal responsibilities for the authenticity, accuracy, integrity and standardization
of the declaration.

Article 8

The consignee of import goods and the agent declaration enterprise shall declare to the customs offices within 14 days as of the day
when declaration is made for the entry of a transportation vehicle.

The consignee of import transit goods and the agent declaration enterprises shall handle the customs procedures of transit within
14 days as of the day when declaration is made to the customs office of the place of entry for the entry of the transportation vehicle.
The goods shall be declared to the customs office of the place of destination within 14 days away from arrival.

The consignor of import goods and the agent declaration enterprises shall declare to the customs after the goods arrive at the custody
area of the customs but 24 hours before loading.

The customs may, in accordance with the Measures of the Customs of the People’s Republic of China for Charging Delinquency Interests
for Import Goods, charge a delinquency interest against the party that fails to declare to the customs within the specified period
for delay.

Article 9

The day of declaration in the present Provisions refers to the day when the declaration data are accepted by the customs. The day
of the acceptance of declaration shall be the day when the declaration data are accepted by the customs, either in the way of electronic
or paper form.

In the case of electronic declaration, the day of declaration shall be the day when the declaration data are accepted by the computer
system of the customs, which are then notified to the enterprise that presents the data, or published at the very site of the customs
office or through public information system.

In the case of paper declaration, the date of declaration shall be the day of registration when the customs accepts the paper declaration
form.

Article 10

The declaration is taken to be refused by the customs where the electronic declaration form is returned by the computer system of
the customs after examination. The consignor and consignee of export and import goods and the agent declaration enterprises shall
modify the form and declare for the second time as is required, with the day of declaration being the day when the customs accepts
the re-declaration.

After manual examination and verification, where part of the declaration form that has been accepted by the customs office requires
modification, the consignor and consignee of export and import goods and the agent declaration enterprises shall modify the form
and send it for a second time as is required, with the date of declaration remaining unchanged.

Article 11

Where the consignor and consignee of export and import goods declare to the customs in their own name, they shall affix their signatures
and stamps on the declaration form and attach the relevant documents to it.

Where the declaration enterprises are entrusted by the consignor and consignee of export and import goods to declare to the customs
in their own name or in the clients’ name, they shall present to the customs a power of attorney signed by the client and go through
the procedures within the limit of authorization.

Article 12

Where a declaration enterprise is entrusted by a consignor or consignee of export and import goods to declare to the customs, it shall
sign a power of attorney with the consignee or consignor explicitly specifying the commitment, and the consignee or consignor shall
give notice to the declaration enterprise of the true conditions concerning the declaration commitment.

In the event of handling the procedures of customs declaration upon the entrustment of the consignor or consignee of export and import
goods, the customs declaration enterprises shall verify the authenticity and integrity of the conditions notified by the clients,
including:

1)

the materials to prove the actual situation of the import and export goods, including the names, specifications, usage, origin and
trade mode, etc;

2)

such business documents as the contract, invoice, documents of transportation, and packing list, etc;

3)

the license certificate necessary in import and export and the attached documents;

4)

the manual for processing trade (either in electronic or paper form) and other documents in import and export as are required by the
customs.

The declaration enterprises which fail to reasonably perform their obligation of inspecting and verifying the authenticity and integrity
of the goods provided by the consignor or consignee of export and import goods or make customs declarations in violation of any of
the regulations of the customs shall be subject to corresponding legal liabilities.

Article 13

The consignees of import goods may, before making a declaration, apply in writing to the customs offices for inspecting goods or taking
samples for the purpose of ascertaining the names, specifications, sizes and categories. The customs shall send personnel for onsite
supervision if the application is approved upon verification.

The customs office shall, when inspecting goods or taking samples, issue a sampling record or a list of samples. Where any of the
sampled goods concerns any animal or plant or the product thereof or any other product that requires a quarantine certificate, the
goods shall, according to the relevant laws, be sampled after the acquisition of a written certification of approval from the relevant
administrative department. After taking samples, the on-site supervision personnel sent by the customs and the consignee of import
goods shall affix their signatures to the sampling record or list of samples for confirmation.

Article 14

After being accepted by the customs office, the declaration of import and export goods may be not be modified in any way, and none
of the declaration documents be revoked. Under any of the following circumstances, the declaration may be modified or revoked, provided
that the consignor and consignee of export and import goods or the agent declaration enterprises presents a written application to
the customs for verification and permission.

1)

The errors of the electronic declaration data arising from the failure of the computer or network system, etc;

2)

After the customs discharges the export goods, the declaration of part or all of the goods is cancelled due to the mistakes of loading,
transportation or distribution, etc, which requires the modification or revocation of the original declaration forms and documents;

3)

The errors in declaration caused by mistakes made by the customs personnel in operation or writing, which has no adverse effect upon
the implementation of the trade control policies, the levying of duties and charging of fees, and the statistics of the customs;

4)

The original declaration data requires modification after the verification of prices, classification and verification of goods or
other professional authentication.

5)

The original declaration data requires modification where a temporary price is specified in advance according to the trade usage yet
the actual price is affirmed upon the settlement according to the quality of the inspected commodity or the actual price in the international
market; where the customs has ordered putting the import and export goods under surveillance and inspection, neither the consignor
or consignee of export and import goods nor the agent declaration enterprise may modify the content of declaration form or revoke
the declaration documents.

Article 15

Where it is necessary for the consignor or consignee of export and import goods or the agent declaration enterprise to explain the
situation of the goods or provide complementary materials while the customs is verifying the electronic declaration form, the relevant
party shall explain and provide the supplementary materials immediately upon its acceptance of the customs’ notice.

Article 16

After the customs has concluded the verification of the electronic declaration forms, the consignor and consignee of export and import
goods and the agent declaration enterprise shall, within 10 days as of the date of its acceptance of the customs’ notification of
‘tendering documents on site’ or ‘tendering documents to discharge’, present to the customs the printed paper declaration form and
the required attached documents with its signature and stamp on them at the place where the goods are located and go through the
relevant customs procedures.

Where it needs to postpone presenting the written documents and going through the relevant customs procedures due to such reasons
as holidays or customs transit, etc, the consignor and consignee of export and import goods and the agent declaration enterprise
shall apply in writing to the customs in advance to explain and may present the documents and go through the procedures within an
extended period verified by the customs. Where the consignor and consignee of export and import goods declare to the customs by themselves,
they shall affix their signatures to the application letter. Where the consignor and consignee of export and import goods have entrusted
the customs declaration enterprise in declaration, both the consignor and consignee and the agent declaration enterprise shall affix
their signatures to the application letter.

Where paper declaration form fails to be presented within the specified or extended period, the customs shall delete the electronic
declaration form and the consignor and consignee of export and import goods and the agent declaration enterprise shall declare for
a second time, the delinquency interests arising from which shall be charged according to the Measures of the Customs of the People’s
Republic of China for Charging Delinquency Interests for Import Goods.

Where the documents are presented on site for verification, the consignor and consignee of export and import goods and the agent declaration
enterprise shall present to the customs the paper declaration form and the attached documents consistent with the electronic declaration
form. Where certain content of the paper declaration is inconsistent, the electronic declaration form should be deleted, unless the
consignor and consignee of export and import goods and the agent declaration enterprise renew the attached documents consistent with
the electronic declaration form or apply for explanation and the customs verifies that there is no violation against the law. Where
the license certificate of import and export goods presented fails to comply with the declaration, the declaration form cannot be
renewed unless the customs verifies that there is no violation against any of the trade control policies or its relevant regulations.

Article 17

Enterprises may conduct real time declaration via computer network, the specific measures for which are to be formulated by the General
Administration of Customs.

Chapter 3 Special Declaration

Article 18

Upon the approval of the customs, the consignor and consignee of export and import goods and the agent declaration enterprise may
declare to the customs in advance after it acquires the bill of ladings or the list of goods.

Where the names, specifications and amounts of import and export goods have been confirmed to be accurate, the declaration enterprise
approved may declare to the customs in advance within 3 days prior to the shipment or arrival of import goods or the arrival of export
goods in the custody area of the customs, tendering the relevant attached documents, the approval documents of import and export
goods and other necessary documents according to the requirements of the customs.

The validity period of the license certificate of export and import goods declared in advance shall be counted according to the date
of the customs’ acceptance of the declaration. The Regulations of the People’s Republic of China on Import and Export Duties (hereinafter
referred to as the Regulations on Duties) shall apply to the duty rates and the exchange rates of the goods declared in advance.

Article 19

Under special circumstances and upon the approval of the customs, the consignor and consignee of export and import goods and the agent
declaration enterprise may go through the procedures of centralized declaration in the specified customs offices within 1 month as
of the day when declaration for entry of the transportation vehicle loaded with goods is made.

The enterprise going through the procedures of centralized declaration shall provide the customs with effective security, and give
notice to the customs, whenever there is import and export of goods, such necessary information as the date of import and export,
the name of the transportation vehicles, the number of bills of lading, the tax number, the name of goods, the specifications and
sizes, the prices, the origins, the amounts, the weight and the consignee or consignor, etc., where the customs may permit antecedent
verification and discharging of goods. After the goods are discharged to the enterprise handling centralized declaration, it shall
go through the procedures of centralized declaration, taxation and discharging within 1 month as of the day when the declaration
for the entry of the transportation vehicles loaded with goods is made. In the case of failure to declare within the specified period,
the delinquency interests shall be charged according to the Measures of the Customs of the People’s Republic of China on Charging
Delinquency Interests for Import Goods.

Electronic declaration shall be adopted in centralized declaration.

The Regulations on Duties shall apply to the duty rate and exchange rate of import and export goods declared in centralized declaration.

Article 20

The import and export goods transported through cables, pipelines, conveyer belts or in other special ways may be declared periodically
to the customs upon approval.

Article 21

Where the information of intellectual property right in import and export goods is required to be declared to the customs, the consignor
and consignee of export and import goods and the agent declaration enterprise shall faithfully present to the customs the information
of intellectual property right in import and export goods, and, as required by the customs, provide certificates and other relevant
documents adequate to prove the accuracy of the content of declaration. The customs shall take measures of protection according to
the present Provisions.

Article 22

Where the customs inspects the declared value of import and export goods and the categorization of tariffs, the consignor and consignee
of export and import goods and the agent declaration enterprise shall present the relevant documents and materials as are required
by the customs.

Article 23

Where it requires supplementary declaration, the consignor and consignee of export and import goods and the agent declaration enterprise
shall fill in the supplementary declaration form according to the facts and present it to the customs.

Article 24

The provisions concerning the declaration of transit goods and the express luggage are further formulated by the General Administration
of Customs.

Chapter 4 Declaration of Documents

Article 25

When the consignor and consignee of export and import goods and the agent declaration enterprise go through the procedures of onsite
examination of documents, collection of duties and fees, and verification and discharge of goods at the customs, they shall present
the paper declaration form consistent with the content of the electronic declaration forms, the license certificate for the administration
of import and export and the attached documents as are required by the customs.

Article 26

The paper declaration form presented to the customs can be either ready-made standard form in specific format or printed directly
on an A-4 paper.

The paper declaration form for import goods is submitted in quintuplicate, consisting of a page for customs operation, a page for
the customs to keep, a page for the enterprise to keep, a page for customs verification and writing-off, and a page certification
(for payment for import) respectively.

The paper declaration form for export goods is submitted in hexaplicate, consisting of a page for customs operation, a page for the
customs to keep, a page for the enterprise to keep, a page for customs verification and writing-off, a page for certification (for
collection of proceeds in export), and a page for certification (for export drawbacks) respectively.

Article 27

The documents and instruments attached to the declaration form for import and export goods include:

1)

contracts;

2)

invoices:

3)

a packing list;

4)

a list of freight (manifest of cargo);

5)

bills of ladings (waybills);

6)

a power of attorney for customs declaration;

7)

the license certificate for import and export;

8)

the manual for processing trade required by the customs (in form of paper or electronic data) and other documents relating to import
and export.

The customs shall retain the original version of the license certificate for import and export, and may retain the copies or duplicates
of the rest of the documents.

Article 28

Where the customs has decided to pre-categorize the goods before the actual import and export, the consignor and consignee of export
and import goods and the agent declaration enterprise shall present the Decision of Pre-Categorization to the customs while declaring
the import and export of goods.

Chapter 5 Issuance and Makeup Issuance of the Certification Page and Verification and Writing-Off Page of the Declaration Form

Article 29

According to the requirements of the administration of foreign exchange, taxation and processing trade, the consignor and consignee
of export and import goods and the agent declaration enterprise may apply to the customs for the issuance of the following certification
pages of the declaration form, provided that they have concluded the customs procedures.

1)

The certification page of the declaration form of export goods for export drawbacks;

2)

The certification page of the declaration form of import goods for payment;

3)

The certification page of the declaration form of export goods for collection;

4)

The verification and writing-off page of the customs for verification and cancellation in processing trade.

While issuing the certification page of declaration form, the customs shall stamp on the lower right corner of the printed certificate
page with the inscription of “verification completed”, which has been recorded in the relevant department.

The consignor and consignee of export and import goods and the agent declaration enterprise shall provide valid certificates required
by the customs while applying for the issuance of the certification page of declaration form and the verification and writing-off
page.

Article 30

Where makeup issuance is required due to the loss and damage of the certification page of the declaration form and the verification
and writing-off page originally issued by the customs, the consignor and consignee of export and import goods and the agent declaration
enterprise shall apply in writing to the customs within 1 year as of the day when the original page was issued and relevant documents
attached for certification. No makeup issuance of any page is allowed without the verification and approval of the customs. The customs
shall inscribe the Chinese characters meaning “Makeup Issuance” on the certification page and the verification and writing-off page,
and charge the cost of production according to the relevant provisions.

Chapter 6 Supplementary Provisions

Article 31

With regard to the goods imported to and exported from the bonded area and the export processing area, and the goods transported in
and out of the bonded area and the export processing area, and the goods involved in the domestic sale, carrying forward of surplus
materials and deep processing in the follow-up phases of processing trade, the present Provisions shall apply to the declaration
procedures, unless it is otherwise provided for.

Article 32

With regard to import and export transit goods, the declaration procedures shall be handled according to the Measures of the Customs
of the People’s Republic of China for the Supervision and Administration of Transit Goods.

Article 33

The consignor and consignee of export and import goods and the agent declaration enterprise violating the present Provisions shall
be punished according to such laws and regulations as the Customs Law of the People’s Republic of China and the Detailed Rules for
the Implementation of the Administrative Punishment of Customs Law of the People’s Republic of China.

Article 34

The power to interpret the present Provisions shall remain with the General Administration of Customs.

Article 35

The present Provisions shall go into effect as of November. 1st , 2003.



 
Customs General Administration
2003-09-18

 






MAINLAND AND MACAO CLOSER ECONOMIC PARTNERSHIP ARRANGEMENT

Ministry of Commerce

Mainland and Macao Closer Economic Partnership Arrangement

Ministry of Commerce

Oct 17, 2003

Preamble

The Mainlandi and the Macao Special Administrative Region (hereinafter referred to as the “two parties”) decided to sign the Mainland
and Macao Closer Economic Partnership Arrangement (hereinafter referred to as the Arrangement) for the purpose of bringing about
economic prosperity and development in both of the two parties and strengthening trade and economic relations of the two parties
with other countries and regions.

Chapter I General Provisions

Article 1

Objectives

To strengthen trade and investment cooperation between the Mainland and the Macao Special Administrative Region (hereinafter referred
to as “Macao”) and bring about joint development of the two parties through the implementation of the following measures:

(1)

progressively reducing or eliminating tariff and non-tariff barriers on substantially all the trade in goods between the two parties;

(2)

progressively realizing liberalization of trade in service through reduction or elimination of substantially all discriminatory measures;

(3)

promoting trade and investment facilitation.

Article 2

Principles

The conclusion, implementation and amendment of the Arrangement shall adhere to the following principles:

(1)

to abide by the principle of “one country, two systems”;

(2)

to comply with the rules of World Trade Organization;

(3)

to accord with the needs of both parties to adjust and upgrade their industries and to promote steady and sustained development;

(4)

to achieve reciprocity and mutual benefit, mutual complementary advantages and joint prosperity;

(5)

to take progressively action, dealing with the easier subjects before the more difficult ones.

Article 3

Establishment and Development

(1)

The two parties shall implement the specific commitments in liberalization of trade in goods and services under the Arrangement as
of January 1, 2004.

(2)

The two parties will broaden and enrich the content of the Arrangement through continuous and further reciprocal liberalization between
each other.

Article 4

Non-application of specific provisions in China’s WTO Accession Legal Documents

The two parties recognize that through over two decades’ reform and opening up, the market economy system the Mainland has been continuously
improving, and the mode of production and operation of Mainland enterprises is in line with the requirements of a market economy.
The two parties agree that Articles 15 and 16 of the Protocol on the Accession of the People’s Republic of China to the World Trade
Organization and Paragraph 242 of the Report of the Working Group on the Accession of the People’s Republic of China to the World
Trade Organization will not be applicable to trade between the two parties.

Chapter II Trade in Goods

Article 5

Tariffs

(1)

Macao will continue to apply zero tax to all imported goods of Mainland origin.

(2)

The Mainland will apply zero tax to the imported goods of Macao origin listed in Table 1 of Annex 1 as of January 1, 2004.

(3)

The Mainland will apply zero tax to the imported goods of Macao origin that are not in Table 1 of Annex 1 no later than January 1,
2006. The detailed implementation procedures are set out in Annex 1.

(4)

Any goods whose import tariffs are eliminated in accordance with paragraph 3 of this Article shall be added to Annex 1.

Article 6

Tariff Rate Quota and Non-tariff Measures

(1)

Neither party shall apply non-tariff measures that don’t comply with the rules of the World Trade Organization to the imported goods
originated from the other party.

(2)

The Mainland will not apply tariff rate quota to the imported goods of Macao origin.

Article 7

Antidumping Measures

The two parties undertake that neither party shall apply antidumping measures to the imported goods originated from the other party.

Article 8

Subsidies and Countervailing Measures

The two parties reiterate to comply with the Agreement on Subsidies and Countervailing Measures of the World Trade Organization and
Article XVI of the General Agreement on Tariffs and Trade 1994, and undertake not to apply countervailing measures to the imported
goods originated from each other.

Article 9

Safeguards

If one party’s import of one product listed in Annex 1 and originated from the other party increases sharply because of the implementation
of the Arrangement and has caused serious injury or threat of serious injury to the affected side’s domestic industry that produces
like or directly competitive products, the affected party may temporarily suspend concessions on the import of the concerned product
from the other party after giving written notice, and shall, at the request of the other party, promptly commence consultations under
Article 19 of the Arrangement in order to reach an agreement.

Chapter III Origin

Article 10

Rules of Origin

(1)

The rules of origin applicable to preferential measures related to trade in goods under the Arrangement are set out in Annex 2.

(2)

In order to ensure the implementation of the preferential measures regarding trade in goods, the two parties decide to establish and
strengthen mutual administrative assistance, including the establishment and strict implementation of the procedures for issuing
certificates of origin, the establishment of auditing and regulatory mechanisms, the development of computer link and electronic
data interchange between the issuing and regulatory authorities of both parties. Details are set out in Annex 3.

Chapter IV Trade in Services

Article 11

Market Access

(1)

Either party shall reduce gradually or eliminate existing restrictive measures against services or service suppliers of the other
party in accordance with the content and timetable set out in Annex 4.

(2)

At the request of either party, the two parties may further liberalization of trade in services between them through consultation.

(3)

Any measures on liberalization of trade in services implemented in accordance with paragraph 2 of this Article shall be added to Annex
4.

Article 12

Service Suppliers

(1)

The definition of “service suppliers” and relevant provisions under the Arrangement are set out in Annex 5.

(2)

Service suppliers of other members of the World Trade Organization that are legal persons established under the laws of one party
and are engaged in substantive business operations as stipulated in Annex 5 in the area of the said party will be enpost_titled to preferential
treatments granted by the other party under the Arrangement.

Article 13

Financial Cooperation

The two parties shall adopt the following measures to further strengthen cooperation in the fields of banking, securities and insurance:

(1)

The two parties support Mainland financial institutions in developing business in Macao;

(2)

The two parties support Mainland banks in developing network and business in Macao through acquisition;

(3)

The two parties encourage, assist and support business exchanges between banking, securities and insurance institutions of Macao and
the Mainland;

(4)

The two parties strengthen cooperation and information sharing between the financial regulatory authorities.

Article 14

Cooperation in Tourism

(1)

For the purpose of further promoting the development of the tourism industry in Macao, the Mainland will allow residents in Beijing,
Shanghai, and Guangzhou, Shenzhen, Zhuhai, Dongguan, Zhongshan, Jiangmen, Foshan, and Huizhou of Guangdong Province to visit Macao
individually. This measure shall be implemented in the entire Guangdong Province no later than July 1, 2004.

(2)

The two parties shall strengthen cooperation in tourism promotion, including promotion of to tourism between each other and external
promotion programmes centered around the Pearl River Delta.

(3)

The two sides shall cooperate to raise the service standards their tourism industries and protect the legitimate rights and interests
of tourists.

Article 15

Mutual Recognition of Professional Qualifications

(1)

The two parties shall encourage mutual recognition of professional qualification and promote the exchange of professional talents
between each other.

(2)

Competent authorities or professional bodies of both parties will study and design specific methodologies mutual recognition of professional
qualifications through consultation.

Chapter V Trade and Investment Facilitation

Article 16

Measures

The two parties shall promote trade and investment facilitation by through greater transparency, standard conformity and enhanced
exchange of information.

Article 17

Fields of Cooperation

(1)

The two parties shall strengthen cooperation in the following fields:

(i)

trade and investment promotion;

(ii)

customs clearance facilitation;

(iii)

commodity inspection, sanitary and phytosanitary inspection and quarantine, food safety, health quarantine, certification and accreditation,
and administration standardization;

(iv)

electronic commerce;

(v)

transparency in laws and regulations;

(vi)

cooperation between small- and medium-sized enterprises;

(vii)

cooperation of industries.

(2)

Details on the fields of cooperation listed in paragraph 1 of this Article are set out in annex 6.

(3)

At the request of either party, the two parties may expand the scope and content of cooperation in trade and investment facilitation
through consultation.

(4)

Any new cooperation fields or content concluded under paragraph 3 of this Article shall be added to Annex 6.

Chapter VI Other Provisions

Article 18

Exceptions

The Arrangement and the provisions in its annexes shall not affect the ability of the Mainland or Macao to maintain or to adopt exception
measures which are in line with the rules of the World Trade Organization

Article 19

Institutional Arrangements

(1)

The two parties shall establish a Joint Steering Committee (hereinafter referred to as the “Committee”). The Committee shall comprise
senior representatives or officials designated by the two parties.

(2)

Liaison offices shall be set up under the Committee. Working groups may be set up as the need arises. Liaison offices shall be set
up in the Ministry of Commerce of the Central People’s Government and Director General’s Office of the Economic and Financial Department
of the Macao Special Administrative Region respectively.

(3)

The functions of the Committee include:

(i)

supervising the implementation of the Arrangement;

(ii)

interpreting the provisions of the Arrangement;

(iii)

settling disputes that may arise during the implementation of the Arrangement;

(iv)

drafting additions and amendments to the content of the Arrangement;

(v)

steering the work of the working groups;

(vi)

dealing with any other business relating to the Arrangement.

(4)

The Committee shall convene meetings at least once a year, and may convene special meetings within 30 days upon request by either
party.

(5)

The two parties shall settle any problems arising from the interpretation or implementation of the Arrangement through consultation
in the spirit of friendly cooperation.

Article 20

Miscellaneous

(1)

Unless otherwise provided in the Arrangement, any action taken under it shall not affect or nullify either party’s rights and obligations
under other agreements to which it is a contracting party.

(2)

The two parties shall try to avoid adding any restrictive measures affecting the implementation of the Arrangement.

Article 21

Annexes

The Annexes to the Arrangement form an integral part of the Arrangement.

Article 22

Amendments

If necessary, the two parties may amend the provisions of the Arrangement or its Annexes in writing. Any amendment shall not come
into effect officially until the authorized representatives of both parties have signed it.

Article 23

Coming into Effect

The Arrangement shall come into effect as of the date of signature by the representatives of both parties.

The Arrangement shall be written in Chinese, in duplicate.

The Arrangement shall be signed on October 17, 2003 in Macao.

Vice Minister of the Ministry of Commerce of the People’s Republic of China

General Director of Economic and Financial Department of Macao Special Administrative Region of the People’s Republic of China

(i)

In this Arrangement, the Mainland refers to the entire customs territory of the People’s Republic of China.



 
Ministry of Commerce
2003-10-17

 






MEASURES OF THE PEOPLE’S REPUBLIC OF CHINA FOR THE CUSTOMS’ SUPERVISION OVER INWARD AND OUTWARD EXPRESS CONSIGNMENTS

Order of the Customs General Administration of the People’s Republic of China

No. 104

The Measures of the People’s Republic of China for the Customs’ Supervision over Inward and Outward Express Consignments, which were
deliberated and adopted at the General Administration’s working conference on December 23, 2002, are hereby promulgated, and shall
be implemented on January 1st, 2004. The Measures of the People’s Republic of China for the Customs’ Supervision over Inward and
Outward Express Consignments promulgated on January 25, 1998 (ShuJian [1998] No. 48) shall be repealed simultaneously.
Mou Xinsheng, Director General of the Customs General Administration

November 18th, 2003

Measures of the People’s Republic of China for the Customs’ Supervision over Inward and Outward Express Consignments
Chapter I General Provisions

Article 1

With a view to strengthening the customs’ supervision over inward and outward express consignments, and facilitating the clearance
of inward and outward express consignments, the present Measures are formulated according to the Customs Law of the People’s Republic
of China and other relevant laws and administrative regulations.

Article 2

The term “inward and outward express consignments” as mentioned in the present Measures means the inward and outward goods and articles
undertaken or carried by inward and outward express consignment operators by means of rapid commercial operations which they promise
to their clients.

Article 3

The term “an inward and outward express consignment operator” (hereinafter referred to as the operator) as mentioned in the present
Measures means an international freight agency enterprise lawfully registered inside the territory of the People’s Republic of China
as well as registered and recorded in the customs to engage in the operation of inward and outward express consignments.

Article 4

Any operator may not undertake or carry any of the articles listed in the “Form of the People’s Republic of China on the Articles
Prohibited from Entering or Exiting the Territory”, nor shall it discretionally deal with any of such articles it has found, but
shall immediately notify the customs and assist the customs in dealing with the article instead.

Without approval of the postal institution of the People’s Republic of China, any operator may not undertake or carry any private
letter.

Article 5

Any operator may not lease, lend or transfer by any means the right to customs declaration for its inward and outward express consignments,
nor may it make customs declaration on behalf of any person other than itself for any goods or articles which are not to be undertaken
or carried by itself.

Article 6

Without permission of the customs, the inward or outward express consignments for which the customs formalities have not been completed
shall not be moved out of the surveillance place of the customs, neither shall they be loaded, unloaded, opened, re-packed, marked
with a sign different from the original one, drawn, dispatched, or delivered for transport.

Chapter II Registration of Operators

Article 7

Where an operator files an application for making customs declarations on behalf of any person other than itself for inward and outward
express consignments, it shall make registration in the local customs according to the administrative provisions of the customs on
registration of international freight agency enterprises.

Article 8

An operator who makes registration in the local customs shall meet the following conditions:

(1)

It has obtained the international freight agency enterprise approval certificate issued by the State competent authority of foreign
trade and economic cooperation or an authorized department of the aforesaid authority, and has been approved to run the business
of inward and outward express consignments;

(2)

The Chinese party in a Chinese-foreign joint venture or cooperative operation enterprise shall have engaged in international freight
agency for at least one year; while the foreign party shall have engaged in international freight agency for at least three years
and in international express delivery for at least one year;

(3)

A domestically funded enterprise shall have engaged in international freight agency for at least one year;

(4)

It has domestic and overseas inward and outward express consignment transport network, as well as two or more overseas branches or
agents;

(5)

It has special marks and transport documents for its inward and outward express consignments, and its transport vehicles shall be
in conformity with the requirements for the customs’ supervision, and be subject to the approval of the customs for record;

(6)

It meets the conditions for customs declaration by means of Electronic Data Interchange.

(7)

The external packing of the express consignments shall be marked with a bar code in conformity with the requirements for the customs’
automatic inspection; and

(8)

It has concluded a cooperative transport contract or agreement with an overseas cooperator (or a branch established abroad by a domestic
enterprise legal person).

Article 9

Where an operator of inward and outward express consignments is no longer able to meet any of the conditions listed in Article 8
of the present Measures or has not engaged in the operation of inward and outward express consignments within one year, the customs
shall nullify the operator’s qualification for customs declaration for inward and outward express consignments.

Chapter III Classification of Inward and Outward Express Consignments

Article 10

Inward and outward express consignments shall, in the present Measures, fall into three categories, that is, the documental category,
the individual articles category, and the goods category.

Article 11

The term “inward and outward express consignments of the documental category” means the documents, certificates, negotiable instruments,
and similar materials that are prescribed in laws or regulations to be exempted from tax and are of no commercial value.

Article 12

The term “inward and outward express consignments of the individual articles category” means the luggage and articles transported
separately from passengers, articles presented between relatives or friends, and other individual articles, which are prescribed
in the regulations on customs, to enter or exit the territory for self-use or within a reasonable scope of quantity.

Article 13

The term “inward and outward express consignments of the goods category” means the express consignments other than those prescribed
in Articles 11 and 12.

Chapter IV Supervision of Inward and Outward Express Consignments

Article 14

The clearance of inward and outward express consignments shall be conducted within the special surveillance place approved by the
customs; if it is necessary to be conducted outside the special surveillance place because of a particular circumstance, it shall
be consented by the local customs in advance.

An operator shall have its special area, warehouse and equipment in conformity with the customs’ supervision requirements within the
special surveillance place of the customs for inward and outward express consignments.

The administrative measures on special surveillance places for inward and outward express consignments shall be separately formulated
by the Customs General Administration.

Article 15

The clearance of inward and outward express consignments shall be conducted during the normal working time of the customs; if it
is necessary to conduct beyond the normal working time of the customs, it shall be consented by the local customs in advance.

Article 16

An operator shall, as required by the customs, make customs declaration to the customs for inward and outward express consignments
with paper documents or by Electronic Data Interchange.

Article 17

Inward express consignments shall, within 14 days as of the day when the means of transport was declared for entry, and outward express
consignments shall be declared to the customs 3 hours before the means of transport departs from the territory.

Article 18

An operator shall transmit or submit a manifest or checklist of the inward or outward express consignments to the customs, and the
customs shall, after confirming that there is no error therein, accept the declaration; where the operator needs to make customs
declaration in advance, it shall notify the customs in writing of the carriage or arrival of the inward and outward express consignments
in advance, and transmit or submit the manifest or checklist to the customs, and the customs shall, after confirming that there is
no error therein, accept the advance declaration.

Article 19

When the customs is inspecting the inward or outward express consignments, the operator shall send some one to be present at the
scene, and be responsible for the moving, opening and re-packing of the inward and outward express consignments.

When the customs is opening any of the individual articles among the inward or outward express consignments for inspection, the operator
shall notify the addressee of the inward express consignments or the addresser of the outward express consignments to be present
at the scene; in case the addressee or addresser is unable to be at the scene, the operator shall submit a power of attorney to the
customs to represent the addressee/addresser to perform the obligations, and bear corresponding legal liabilities.

The customs may, when considering it necessary, directly open the inward or outward express consignments for inspection, re-inspect
them or draw samples of goods.

Article 20

Unless otherwise prescribed, the operator shall, when making customs declaration for inward or outward express consignments, separately
according to the provisions on classification in Article 11 through 13 of the present Measures, submit relevant customs declaration
documents to the customs and conduct corresponding formalities for customs declaration and duty payment.

Article 21

The operator shall, when making customs declaration for inward and outward express consignments of the documental category, submit
to the customs the “KJ1 Customs Declaration Form of the Customs of the People’s Republic of China for Inward and Outward Express
Consignments” (see Annex 1), the general transport document (counterpart), and other documents as required by the customs.

Article 22

The operator shall, when making customs declaration for inward and outward express consignments of the individual articles category,
submit to the customs the “Individual Articles Declaration Form of the Customs of the People’s Republic of China for Inward and Outward
Express Consignments” (see Annex 2), the specific transport document of each inward or outward express consignment, a photocopy of
the identification certificate of the addressee of inward express consignments or of the addresser of outward express consignments,
and other documents as required by the customs.

Article 23

The operator shall, when making customs declaration for inward express consignments of the goods category, submit customs declaration
documents to the customs separately according to the following circumstances:

With regard to the goods whose tariff amount is below the minimum threshold of tariff as prescribed in the “Regulations of the People’s
Republic of China on Import and Export Tariff” as well as the samples of goods or the advertisement articles exempted from customs
duty as prescribed by the customs, the “KJ2 Customs Declaration Form of the Customs of the People’s Republic of China for Inward
and Outward Express Consignments” (see Annex 3), the specific transport document of each inward express consignment, the invoices,
and other documents as required by the customs shall be submitted.

With regard to the samples of goods or the advertisement articles on which customs duties shall be levied (except for those prescribed
by laws or regulations to be subject to permit administration, and those for which foreign exchanges need to be paid upon import),
the “KJ3 Customs Declaration Form of the Customs of the People’s Republic of China for Inward and Outward Express Consignments” (see
Annex 4), the specific transport document of each inward express consignment, the invoices, and other documents as required by the
customs shall be submitted.

Article 24

The clearance for the goods other than those prescribed in Articles 21 through 23 shall be handled according to the provisions of
the customs on clearance of import goods.

Article 25

The operator shall, when making customs declaration for outward express consignments of the goods category, submit the customs declaration
documents to the customs separately according to the following circumstance:

With regard to the samples of goods or the advertisement articles (except for those prescribed by laws or regulations to be subject
to permit administration, those for which export tariff shall be levied, those for which foreign exchanges need to be collected upon
export, and those for which taxes need to be refunded for export), the “KJ2 Customs Declaration Form of the Customs of the People’s
Republic of China for Inward and Outward Express Consignments”, the specific transport document of each outward express consignment,
the invoices, and other documents as required by the customs shall be submitted.

The clearance for the goods other than those mentioned above shall be handled according to the provisions of the customs on clearance
of export goods.

Chapter V Specially Delivered Inward and Outward Express Consignments

Article 26

The term “specially delivered inward and outward express consignments” means the express consignments carried by air by the operator
into or out of the territory in a way of special delivery under escort.

Article 27

The operator who is engaged in the business of specially delivered inward and outward express consignments shall, in addition to
making registration according to the relevant provisions in Chapter II of the present Measures, register such particulars of the
specially delivered inward and outward express consignments as the port of entry or exit, the time, route, schedule of the means
of transport, detailed information on the special deliverer himself, the mark, etc. in the local customs. In the event of any modification,
the operator shall make registration in the local customs 5 working days prior to such modification.

Where the aforesaid conditions are met, the local customs shall issue the “Registration and Record Certificate of the Customs of the
People’s Republic of China for Specially Delivered Inward and Outward Express Consignments” (see Annex 5), upon strength of which
the operator shall make customs declaration for the specially delivered inward and outward express consignments.

Article 28

Specially delivered inward and outward express consignments shall be consigned as luggage articles, be specially packed, and be indicated
with the operator’s name and the words of “Specially Delivered Inward and Outward Express Consignments” on an eye-catching position
of the general packing.

Chapter VI Legal Liabilities

Article 29

Any one who violates the present Measures by committing any smuggling act shall be punished by the customs pursuant to the “Customs
Law of the People’s Republic of China”, the “Detailed Rules for the Implementation of Administrative Penalties under the Customs
Law of the People’s Republic of China”, and other relevant laws and administrative regulations; if a crime is constituted, the offender
shall be subject to criminal liabilities in jure.

Chapter VII Supplementary Provisions

Article 30

The responsibility to interpret the present Measures shall remain with the Customs General Administration.

Article 31

The present Measures shall be implemented on January 1st, 2004.




Annex 1

￿￿

￿￿

Annex
1:

KJ1
the Bill of Entry for Inward and Outward Express Consignments

￿￿

The
number of customs declaration form:

 Name
of operator:      
Entry/Exit Port:       
Sequence No. of vehicle:          
Date of entry/exit:


Code of the general consignment note:

Serial number

Code of sub- consignment
note

Name

Unit

Weight (KG)

The name of
consignee/consigner

Code of clearance

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿￿￿The operator hereby
guarantees that: The above goods declared to the customs on    
(date) are the goods in  Catalogue
A provided for in the Measures for Customs Monitoring and Regulation of
Inward and Outward Express
Consignments of the People￿￿s Republic of
China, and the operator is legally obliged to establish the authenticity
and legality of the declaration with the customs concerned.

￿￿

￿￿

(Special seal for
declaration of the operator)   
customs declarant:  
date of declaration:

The following shall be
filled in by the customs

Seal of customs:        
Operation officer:      
Date:             
Examining officer:        Date:

￿￿

Annex
2:

The
Declaration List for Personal Belongings in Inward and Outward Express
Consignment

￿￿


The number of customs declaration form:






 Name
of operator:          
Entry/Exit Port:       
Sequence No. of vehicle:    
Date of entry/exit:


Code of the general consignment note:

Serial number

Code of sub-consignment note

Name

Value
(RMB)

Unit

Tariff No.

Amount of Tariff

Name of
consignee/consiger

Country/Region

Number of Certificate

Code of clearance

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿

￿￿￿￿The operator hereby
guarantees that: The above goods declared to the customs on    
(date) are the goods within the scope of personal belongings
provided for in the Measures for the Monitoring and Regulation
of Inward
and Outward Express Consignments of the Customs of the People￿￿s
Republic of China, and the operator
is legally obliged to establish the
authenticity and legality of the declaration with the customs concerned.

￿￿

(Special seal for
declaration of the operator)   
   Customs
declarant

SUPPLEMENTARY PROVISIONS ON THE MEASURES FOR THE ADMINISTRATION OF FOREIGN-FUNDED INTERNATIONAL FREIGHT AGENCY ENTERPRISES

20051211

Ministry of Commerce

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

No. 12

With a view to promoting Hong Kong and Macao to establish closer economic and trade relationship with the Mainland, the Supplementary
Provisions on the Measures for the Administration of Foreign-Funded International Freight Agency Enterprises, which were adopted
at the 8th executive meeting of the Ministry of Commerce on December 7th, 2003, are hereby promulgated, and shall be implemented
on January 1st, 2004.

Lv Fuyuan, Minister of the Ministry of Commerce

December 7th, 2003

Supplementary Provisions on the Measures for the Administration of Foreign-Funded International Freight Agency Enterprises

With a view to promoting Hong Kong and Macao to establish closer economic and trade relationship with the Mainland, encouraging service
providers from Hong Kong and Macao to establish within the Mainland enterprises engaging in international freight agency, we have
hereby made the following supplementary provisions on the Measures for the Administration of Foreign-Funded International Freight
Agency Enterprises (Order No. 36 [2002] of the Ministry of Foreign Trade and Economic Cooperation) pursuant to the Mainland and Hong
Kong Closer Economic Partnership Arrangement and the Mainland and Macao Closer Economic Partnership Arrangement approved by the State
Council:

I.

Since January 1st, 2004, service providers from Hong Kong and Macao are permitted to establish international freight agency enterprises
within the Mainland by means of joint venture, cooperation or solely-funded enterprise.

II.

The minimum amount of the registered capital of a qualified service provider from Hong Kong or Macao that invests in the Mainland
to establish an international freight agency enterprise shall meet the following requirements:

(1)

Where he/it runs maritime international freight agency, the minimum amount of his/its registered capital shall be 5 million Yuan;

(2)

Where he/it runs aerial international freight agency, the minimum amount of his/its registered capital shall be 3 million Yuan;

(3)

Where he/it runs overland international freight agency or international express delivery, the minimum amount of his/its registered
capital shall be 2 million Yuan.

Where he/it runs two or more items of business in the preceding paragraph, the minimum amount of his/its registered capital shall
be the minimum amount of the higher/highest one.

An international freight agency enterprise shall, for each branch engaging in international freight agency that it intends to establish,
add 500,000 Yuan of registered capital.

III.

As for other matters for service providers from Hong Kong and Macao to apply in the Mainland for establishing international freight
agency enterprises, the Measures for the Administration of Foreign-Funded International Freight Agency Enterprises shall still be
followed.

IV.

The service providers from Hong Kong and Macao as mentioned in the present Supplementary Provisions shall separately meet the requirements
in the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Mainland and Macao Closer Economic Partnership Arrangement
on the definition of service providers, and in other relevant provisions, as well.

V.

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

VI.

The present Supplementary Provisions shall be implemented on January 1st, 2004.

 
Ministry of Commerce
2003-12-07

 



THE INTERIM MEASURES FOR THE STOCK ISSUANCE AND LISTING RECOMMENDATION SYSTEM

China Securities Regulatory Commission

Order of the China Securities Regulatory Commission

No. 18

The Interim Measures for the Stock Issuance and Listing Recommendation System, which were deliberated and adopted at the 49th executive
meeting, are hereby promulgated and shall come into force as of February 1st, 2004.

Shang Fulin, Chairman of the China Securities Regulatory Commission

December 28th, 2003

The Interim Measures for the Stock Issuance and Listing Recommendation System

Chapter I General Provisions

Article 1

With a view to regulating the activities of listing and issuance of securities, to enhancing the quality of listed companies and the
practices of securities operating institutions, to protecting the legitimate rights and interests of investors and to promote the
sound development of securities market, the present Measures are formulated in accordance with the laws and administrative regulations.

Article 2

The present Measures shall apply to the join-stock limited companies’ initial public offer of stocks and the listed companies’ issuance
of new stocks and convertible corporate bonds.

Article 3

The securities operating institutions shall fulfill the recommendation duties, shall register as the recommendation institutions in
accordance with the present Measures.

Article 4

The recommendation institutions shall comply with the laws, administrative regulations, the rules of the China Securities Regulatory
Commission (hereinafter referred to as CSRC) and the bylaws of the securities industry, shall recommend the issuance and listing
of the issuers’ securities honestly, faithfully, diligently and devotedly, and shall continuously supervise and urge the issuers
to perform the relevant obligations.

When a recommendation institution performs the recommendation duties, it shall designate some recommendation representatives to take
charge of the specific recommendation work.

Article 5

The recommendation institutions shall be responsible for the main underwriting work of the issuance of securities, and shall check
the public offer financing documents according to the law, and shall give a recommendation advice to the CSRC.

The recommendation institutions shall ensure the authenticity, exactness and completeness of the documents issued by them.

Article 6

An issuer and its directors, supervisors, managers and other senior managerial persons (hereinafter referred to as the “senior managerial
persons”), the law firm, accounting firm, assets assessment institutions and other intermediary institutions that provide special
services to the issuer (hereinafter referred to as ” the intermediary institutions”) and the signer of the issuer shall, in accordance
with the laws, administrative regulations and the rules of the CSRC, bear the corresponding liabilities, and shall cooperate with
the recommendation institutions to fulfill the recommendation duties.

The recommendation institution and the recommendation representatives’ fulfillment of their duties cannot be deemed as a reason to
mitigate the liabilities of the issuer and its senior managerial persons, the intermediary institutions and its signer or to exonerate
them from their liabilities.

Article 7

The CSRC shall, according to the laws, administrative regulations and the present Measures, conduct supervision over and administration
of the pertinent activities of the recommendation institutions and their representatives, the issuers and their managerial persons,
the intermediary institutions and their signers.

The China Securities Association shall adopt self-disciplinary management to the recommendation institutions and the recommendation
representatives.

Chapter II Registration of Recommendation Institutions and Recommendation Representatives

Article 8

Any securities operating institution or individual that has been registered in the CSRC and is on the name list of the recommendation
institutions and the recommendation representatives (hereinafter referred to as the name list) may engage in the recommendation work
in accordance with the provisions of the present Measures. Any one who fails to be registered as a recommendation institution or
recommendation representative in the CSRC and to be on the name list may not engage in the recommendation work.

Article 9

Where a securities operating institution files an application for being registered as a recommendation institution, it shall be a
comprehensive securities company and shall submit to the CSRC a statement or commitments expressing its willingness to fulfill the
recommendation duties.

Article 10

Where a securities operating institution is under any of the following circumstances, it shall not be registered as a recommendation
institution:

(1)

There are less than 2 recommendation representatives;

(2)

There is any serious weakness in the company’s governance structure, the risk control system is imperfect or hasn’t been implemented
effectively;

(3)

It is removed from the name list of the CSRC because of violations of laws and regulations in the recent 24 months; or

(4)

Any other circumstance prescribed by the CSRC.

Article 11

Where an individual files an application for being registered as a recommendation representative, he/she shall file an application
to the CSRC via the recommendation institution in which he/she holds a position and submit the relevant evidential documents and
statement if he/she has acquired the professional qualifications of securities and the corresponding certificate. And he/she shall
meet the following conditions in addition:

(1)

Having experience in any investment bank as prescribed by the CSRC;

(2)

Having taken and passed the recommendation representatives’ competence examination acknowledged by the CSRC;

(3)

Having obtained a recommendation letter issued by the recommendation institution in which he/she holds a position and signed by the
chairman of the board of directors or the general manager;

(4)

Without any debt of considerably large amount that shall be paid off when it matures;

(5)

His/her name hasn’t been removed from the name list of the CSRC or he/she hasn’t been given any administrative punishment by the CSRC
because of violations of the law and regulations within the recent 36 months; and

(6)

Other conditions as prescribed by the CSRC.

Article 12

The securities operating institutions and individuals shall ensure that the registration application documents be authentic, exact
and complete. During the period of application, if there is any important change in the documents, the applicant shall submit new
materials to the CSRC within 5 working days as of the day when the change occurs.

Article 13

Where an applicant meets the conditions, the CSRC shall, within 20 working days as of the day when it accepts his/her registration
application, handle the registration formalities, list him/her in the name list and make an announcement. In case the applicant doesn’t
meet the conditions, the CSRC shall not handle the registration formalities and notify him/her of the reasons in writing.

Article 14

A recommendation institution shall, within 1 month as of the day when it or its recommendation representatives complete the registration
or as of the day when it has been 12 months since the previous archival filing is completed, submit the annual archival filing form
and the relevant materials to the CSRC so as to modify the registered information.

Article 15

Where there is any important change in the registered information of the recommendation institution or of its recommendation representatives,
the recommendation institution shall, within 5 working days as of the day when the change occurs, report to the CSRC.

Article 16

Where a recommendation institution is under any of the circumstances as prescribed in Article 10 of the present Measures, the CSRC
shall remove it and its recommendation representatives from the name list.

Article 17

Where a recommendation representative is under any of the following circumstances, the CSRC shall remove his/her name from the name
list:

(1)

His/her professional license has been cancelled or withdrawn;

(2)

Without experience in an investment bank as required by the CSRC;

(3)

The recommendation institution has withdrawn its recommendation letter;

(4)

He/She has been transferred from a recommendation institution or from the operating department of its investment bank;

(5)

He/She fails to clear off any mature debt of considerably large amount;

(6)

He/She is given any administrative punishment by the CSRC because of violations of the law and regulations or receives a criminal
punishment because of committing a crime; or

(7)

Other circumstances prescribed by the CSRC.

Article 18

Where a recommendation representative whose name has been removed from the name list meets the registration conditions, he/she may
re-file an application for being registered as a recommendation representative. Where it has been more than 6 months as of the day
when he/she is removed from the name list, he /she shall have the recommendation representatives’ competence examination once again.

Chapter III Duties of the Recommendation Institutions

Article 19

A recommendation institution shall dutifully recommend the issuance and listing of the securities of an issuer. After the listing
of the securities of an issuer, the recommendation institution shall continuously supervise and guide the issuer to fulfill the obligations
such as operating normatively, keeping its promise, and disclosing the information, etc..

Article 20

Before a recommendation institution recommends the initial public offer of stocks of an issuer, it shall give guidance to the issuer
according to the requirements of the CSRC.

Where the recommendation institution is to recommend the initial public offer of an issuer guided by any other institution, it shall,
prior to making the recommendation, re-provide guidance to the issuer for at least 6 months.

Article 21

The recommendation institution may not recommend an issuer to issue securities by way of listing, until it meets the following requirements
upon guidance:

(1)

It meets the requirements for the public issuance of securities and the relevant regulations and has the capability of sustainable
development;

(2)

It is independent of the promoters, big shareholders and the actual controller in the aspects of operations, assets, personnel, institution
and financial affairs. There is no intra-trade competition, obviously unfair connected transaction or any other act that may affect
the independent operation of the issuer;

(3)

There is no serious defect in the corporate governance, financial and accounting systems that may obstruct the sustained normative
operation;

(4)

The senior managerial persons have grasped the laws and administrative regulations and other related knowledge as required for entering
the securities market, have known the statutory obligations and responsibilities of a listed company and its senior managerial personnel,
are adequately honest and trustworthy, are capable of managing a listed company and have sufficient experiences; and

(5)

Other requirements prescribed by the CSRC.

Article 22

Where a recommendation institution recommends the issuance and listing of the securities of an issuer, it shall, in accordance with
the laws, administrative regulations and provisions of the CSRC, devotedly conduct investigations into and carefully examine the
issuer and its promoters, big shareholders and actual controller. It shall, upon the entrustment of the issuer, organize and make
the application documents and issue the recommendation documents.

Article 23

Among the issuer’s public financing documents, those not supported by any professional opinion of an intermediary institution and
its signer shall be fully, widely and properly investigated into by the recommendation institution, who shall then independently
make a judgment on the materials provided by the issuer and the information disclosed by it and shall have adequate reasons to affirm
that there is no material discrepancy between the judgment made by it and the issuer’s public financing documents.

Article 24

Among the issuer’s public financing documents, those containing the professional opinions issued by the intermediary institutions
and their signers shall be carefully checked and verified by the recommendation institution, who shall independently make a judgment
on the materials provided by the issuer and the information disclosed by it.

Where there is any important discrepancy between the judgment made by the recommendation institution and the professional opinion
of an intermediary institution, the related items shall be re-investigated and re-verified, and another intermediary institution
may be hired to provide professional services.

Article 25

A recommendation institution shall make the following commitments in its recommendation documents:

(1)

It has adequate reasons to believe that the issuer meets the requirements prescribed in Article 14 of the present Measures, and it
is proper for its securities to be listed and traded in the stock exchange;

(2)

It has adequate reasons to believe that there is no false information, misleading statement or serious omission in the issuer’s application
documents and the public financing documents;

(3)

It has adequate reasons to believe that the opinions of the issuer and its directors expressed in the public financing documents are
well-grounded;

(4)

It has adequate reasons to believe that there is no material discrepancy between its judgment and the opinions expressed by other
intermediary institutions;

(5)

It shall guarantee that the recommendation representatives assigned by it and the related personnel of this recommendation institution
has fulfilled their duties diligently, and have devotedly conducted investigations into and have carefully verified the application
documents of the issuer;

(6)

It shall guarantee that there is no false information, misleading statement or serious omission in the recommendation documents and
the other documents relating to the fulfillment of the recommendation duties;

(7)

It shall guarantee that the professional services and the professional opinions provided to the issuer are in line with the laws,
administrative regulations, the provisions of the CSRC and the bylaws of the securities industry;

(8)

It voluntarily accepts the supervision measures taken by the CSRC according to the present Measures; and

(9)

Other commitments as prescribed by the CSRC.

Article 26

The recommendation institution shall, after it has submitted the recommendation documents to the CSRC, shall actively help the CSRC
to examine the said documents, and undertake the following tasks:

(1)

To organize the issuer and its intermediary institutions to make replies to the opinions of the CSRC;

(2)

To devotedly investigate into or verify the special matters in relation to the current issuance and listing of securities according
to the requirements of the CSRC;

(3)

To assign the recommendation representatives to conduct professional communications with the CSRC; and

(4)

Other tasks prescribed by the CSRC.

Article 27

When recommending the listing of the securities of an issuer, the recommendation institution shall submit to the stock exchange a
recommendation letter and the pertinent documents as required in the listing rules in the stock exchange, and shall report them to
the CSRC for archival purposes.

A recommendation letter shall contain the commitments as prescribed in Article 25 of the present Measures, the arrangement in relation
to the continuous supervision over the issuer and other matters as required by the stock exchange.

Article 28

The recommendation institution shall determine the items and emphases of the continuous supervision and guidance according to the
actual situation of the issuer, and shall undertake the following tasks:

(1)

To supervise and guide the issuer to effectively implement and perfect the system in regard to the prevention of the big shareholders’
and other connected parties’ illegal use of the issuer’s resources;

(2)

To supervise and guide the issuer to effectively implement and perfect the internal control system in regard to the prevention of
the senior managerial personnel’s impairment to the interests of the issuer by taking the advantage of their positions;

(3)

To supervise and guide the issuer to effectively implement and perfect the system in regard to guarantee of the fairness and normativeness
of connected transactions, and to express its opinions on the connected transactions;

(4)

To supervise and guide the issuer to fulfill the obligation of information disclosure, to examine the information disclosure documents
and other documents submitted to the CSRC and the stock exchange;

(5)

To continuously pay attention to the issuer’ uses of the raised fund, the fulfillment of the investment project and other commitments;

(6)

To continuously pay attention to the issuer’s providing guaranties to others, and expressing its opinions; and

(7)

Other tasks as required by the CSRC and stipulated in the recommendation agreement.

Article 29

As for an issuer of initial public offer of stocks, the period of continuous supervision and guidance shall be the remaining time
of the current year of the listing of the securities and the following two full fiscal years. As for a listed company who issues
new stocks or convertible corporate bonds, the period of continuous supervision and guidance shall be the remaining time of the current
year of the listing of the securities and the following one full fiscal year. The period of continuous supervision and guidance shall
start as of the day of the listing of the securities.

Article 30

At the expiration of the period of the continuous supervision and guidance, if there is any uncompleted recommendation task, the recommendation
institution shall complete it continuously.

During the conscientious recommendation period or the continuous supervision and guidance period, if the recommendation institution
fails to fulfill its duties diligently and devotedly, it shall bear the corresponding liabilities after the expiration of the period
of continuous supervision and guidance.

Chapter IV Recommendation Procedures

Article 31

A recommendation institution shall establish and perfect the internal control system of the recommendation work.

Article 32

A recommendation institution shall establish and perfect the duty investigation system in regard to the issuance and listing of securities,
the internal examination system concerning the issuance and listing application documents and the system in regard to the continuous
supervision and guidance to the issuers after the listing of securities.

Article 33

A recommendation institution shall establish and perfect the system in regard to the continuous training of the recommendation representatives
and other personnel engaging in recommendation work.

Article 34

A recommendation institution shall establish and perfect the system in regard to the archival files. It shall establish separate archival
files for each recommendation project.

The recommendation archives shall be authentic, exact and complete, and shall be preserved for not less than 10 years.

Article 35

Where any of the following circumstances exists that may affect the impartial performance of duties of recommendation, a recommendation
institution may not recommend the issuance and listing of the securities of any issuer:

(1)

The aggregate shares of the recommendation institution, the actual controllers and the important connected parties exceed 7% of the
total shares of the issuer;

(2)

The issuer holds or controls 7% of the total shares of the recommendation institution;

(3)

Any of the recommendation institution’s recommendation representatives, directors, supervisors, managers and other senior managerial
personnel has an interest in the issuer, takes a position in the issuer or any other circumstance that may affect the impartial performance
of the recommendation duties; or

(4)

The recommendation institution, or any of its big shareholders, actual controllers and important connected parties provide guaranty
or financing services to the issuer.

Article 36

The recommendation institution and the issuer shall conclude a recommendation agreement so as to specify their respective rights and
obligations.

Article 37

The recommendation institution shall, in accordance with the bylaws of the securities industry and by consulting the issuer, determine
the relevant fees for the performance of the recommendation duties.

Article 38

Where a recommendation agreement is terminated prior to the publication of the public offer financing documents, the recommendation
institution and the issuer shall respectively report to the CSRC and give it explanations within 5 working days as of the day of
termination.

Article 39

After the publication of the public offer financing documents, the recommendation institution and the issuer shall not terminate the
recommendation agreement, except that the issuer hires another recommendation institution to apply for the issuance of new stocks
or convertible corporate bonds and that the recommendation institution has been removed from the name list by the CSRC.

Where a recommendation agreement is terminated, the recommendation institution and the issuer shall report to the CSRC and the stock
exchange and give them explanations within 5 working days as of the day of termination.

Article 40

Where the recommendation institution is removed from the name list of the CSRC during the period of continuous supervision and guidance,
the issuer shall hire another recommendation institution within one month.

Article 41

The other recommendation institution hired shall finish the supervision and guidance work uncompleted by the former one, and the supervision
and guidance period shall not be shorter than a full fiscal year.

The other recommendation institution hired shall carry out the recommendation work and bear the corresponding liabilities as of the
day when the recommendation agreement is concluded. The former recommendation institution shall bear the corresponding liabilities
during the period of the conscientious recommendation and the period of continuous supervision and guidance.

Article 42

A recommendation institution shall assign 2 recommendation representatives to take charge of the specific recommendation work of an
issuer, shall issue a special authorization signed by the chairman of the board of directors or by the general manager, and shall
ensure that the relevant departments and personnel of the recommendation institution efficiently cooperate with each other based
on division of labor.

In addition, the recommendation institution shall assign a project principal. A recommendation representative may take the position
of a project principal.

Article 43

After the issuance of the securities of an issuer, the recommendation institution shall not change the recommendation representatives,
except that they are removed from the name list by the CSRC because of being transferred from the recommendation institution or any
other circumstance.

Where the recommendation institution changes the recommendation representatives, it shall notify the issuer, and shall report and
give explanations to the CSRC and the stock exchange. The former recommendation representatives shall bear the corresponding liabilities
for the period during which they take charge of the specific recommendation work.

Article 44

The legal representative of the recommendation institution, the person-in-charge of the business department of the investment bank,
the person-in-charge of internal examination, the recommendation representatives and project principal shall affix their signatures
to the recommendation documents, and list their names in the issuer’s public financing documents.

Article 45

The recommendation institution shall in time notify the issuer of the opinions expressed for the performance of the recommendation
duties, shall keep them as its work archives, and may make an announcement according to the provisions of the present Measures and
report them to the CSRC and the stock exchange.

Article 46

The recommendation institution shall submit a “recommendation summary report” to the CSRC and the stock exchange within 10 working
days after completing the continuous supervision and guidance work.

Article 47

Where a recommendation representative engaging in recommendation work is interfered with by any unjustifiable factor, he/she shall
independently keep his/her professional opinions, which shall be recorded in the recommendation archives.

Article 48

Since all the recommendation representatives and other personnel engaging in recommendation work are the persons who know the inside
information, they shall abide by the laws, the administrative regulations and the provisions of the CSRC, shall not directly or indirectly
seek improper interests for themselves or for any other person by making use of the access to the inside information.

Chapter V The Coordination of Recommendation Work

Article 49

A recommendation institution may, when performing the recommendation duties, exercise the following rights to an issuer:

(1)

To ask the issuer to notify it of the information according to the provisions of the present Measures and in the form as stipulated
in the recommendation agreement;

(2)

To announce the illegal acts of the issuer in pursuance of information disclosure provisions of the CSRC and the stock exchange; and

(3)

To exercise other rights as provided by the CSRC or stipulated in the recommendation agreement.

Article 50

Where an issuer is under any of the following circumstances, it shall in time inform or consult the recommendation institution, and
shall, according to the stipulations in the agreement, submit the relevant documents to the recommendation institution:

(1)

Modifying its commitments in regard to the financing and investment project, etc.;

(2)

Making any connected transaction and providing guaranty to any other person, etc.;

(3)

Performing the information disclosure duties or reporting the relevant matters to the CSRC and the stock exchange;

(4)

Committing any illegal act or other serious acts; and

(5)

Other matters as prescribed by the CSRC or as stipulated in the recommendation agreement.

Article 51

Prior to the issuance of securities, in case the issuer fails to cooperate with the recommendation institution to perform the recommendation
duties, the recommendation institution shall express its reservations, and shall give explanations in the recommendation documents;
in case the circumstance is serious, it shall refuse to make recommendation or withdraw the recommendation that it has already completed.

Article 52

After the issuance of securities, in case the recommendation institution has adequate reasons to hold that the issuer may have illegal
acts or other improper acts, it shall supervise and urge the issuer to make explanations and order it to get right within a time
limit; in case the circumstance is serious, it shall report to the CSRC and the stock exchange.

Article 53

A recommendation institution shall organize and coordinate the relevant work of the intermediary institutions and their signers when
they participate in the issuance and listing of securities.

Article 54

Where a recommendation institution has any doubts about the professional opinions issued by an intermediary institution and its signer,
it shall actively negotiate with this intermediary institution and may ask it to make explanations or to present the basis.

Article 55

Where a recommendation institution has adequate reasons to ensure that the professional opinions issued by an intermediary institution
and its signer may have false information, misleading statement, serious omission or any other illegal or improper circumstance,
it shall in time express its opinions; in case the circumstance is serious, it shall report to the CSRC and the stock exchange.

Article 56

An intermediary institution and its signer shall keep professional independence, shall prudently make a new judgment on the doubts
or opinions raised by the recommendation institution, shall in time notify the recommendation institution and the issuer of its opinions,
and may report to the relevant departments, the CSRC and the stock exchange according to the law.

Chapter VI Supervisory Measures and Legal Liabilities

Article 57

The CSRC shall establish a recommendation credit-standing supervision system to conduct continuous and dynamic management in regard
to the registration of the recommendation institutions and recommendation representatives and to announce the records such as their
professional practices, illegal acts, other bad acts and the supervision measures taken against them.

Article 58

A recommendation institution and its recommendation representatives shall bear the corresponding liabilities as of the day when the
recommendation institution submits the recommendation documents to the CSRC.

Article 59

Where the application documents for the registration of a recommendation institution submitted by a securities operating institution
to the CSRC contain any false information, misleading statement or serious omission, the CSRC shall refuse to handle the registration,
or remove the recommendation institution from the name list if it has completed the registration.

Where the application documents for registration of a recommendation representative contain any false information, misleading statement
or serious omission, the CSRC shall refuse to handle the registration, or remove him/her from the name list if it has completed the
registration, and shall refuse to accept any application for the registration of recommendation representatives recommended by this
recommendation institution within 6 months as of the day of removal.

Article 60

Where any recommendation document submitted by a recommendation institution to the CSRC and the stock exchange contains any false
information, misleading statement or serious omission, or where the recommendation institution induces, or

INTERIM REGULATIONS ON ADMINISTRATION OF SOFTWARE PRODUCTS

Interim Regulations on Administration of Software Products

     PART ONE GENERAL PRINCIPLES PART TWO REGISTRATION OF SOFTWARE PRODUCTS PART THREE SOFTWARE PRODUCTION PART FOUR MANAGEMENT OF SOFTWARE
PRODUCTS PART FIVE SUPERVISION PART SIX SUPPLEMENTATION

Article One The promulgation of the provisional regulation aims at enhancing the software products management, promoting the development
of the software industry and wider computer application, and accelerating the computerization of the national economy.

Article Two The regulation is applicable to the replication of software carried by all kinds of devices which are provided to the
public by way of selling, renting or licensing. These devices include paper, tape, disc, VCD, semi-transistor storage device, integrated
circuit chip and any other form which has the capacity to store information. The regulation is not applicable to those software designed
or entrusted to be designed by units or individuals for self-use.

Article Three The development, production and marketing of software are encouraged for the purpose of carrying forward the development
of the software industry, and satisfying the increasing demand for computerization.

Article Four Software development, production, management and import and export must not contradict the relevant laws and regulations,
and the following is banned:

1. violating intellectual property right.

2. carrying computer virus endangering the computer system.

3. carrying contents forbidden by the government.

Article Five The Ministry of the Electronic Industry is in charge of the national software administration.

PART TWO REGISTRATION OF SOFTWARE PRODUCTS

Article Six The state exercises a system of registration and filing over software products. The National Software Product Management
Center under the Ministry of Electronic Industry shall be responsible for the registration numbers and certificates as well as other
relevant management affairs.

Article Seven Application for the registration and filing of software products shall be submitted by the relevant manufacturer together
with the following documents:

1. a copy of legal person business license issued by the Administration of Industry and Commerce.

2. the identity certificate of the legal representative and the relevant materials.

3. the valid copyright certificate of the software product, including the valid certificate for holding the copyright by the relevant
institution or enterprise or the contract by which the copyright owner gives approval to the relevant organization to produce the
software product and the valid copyright certificate for the software.

4. the name, contents, function, the copyright holder, materials concerning the registration and filing of the software copyright
as well as the sample and test result of the software product.

5. when the registration is applied for through the delegation of a software manufacturer, the certificate of authorization shall
be provided at the same time.

Article Eight Application for the registration and filling of an imported software product shall be undertaken by the relevant importer,
and apart from the documents stipulated in Article 7 of this regulation, relevant materials granting permission to the importer of
the software product shall be provided at the same time.

Article Nine Application for the registration and filing of a foreign software product made domestically shall be undertaken by the
relevant software manufacturer, and apart from the documents stipulated in Article 7 of this regulation, relevant materials granting
permission to the import of the software product shall be submitted at the same time.

Article Ten In case of the change of the registered software items, the applicant shall go through the formalities of the change of
the registration at the original issuing authorities.

Article Eleven Producers of software shall meet the following requirements:

1. They shall be corporate bodies, established under the approval of the Administration of Industry and Commerce, and the operation
of computer software (including software technology development and production) shall be included in their business range.

2. They shall have the necessary conditions and technical ability, for software production.

3. They shall have a fixed place for production.

4. They shall have the means and capability to guarantee the quality of both the product and the production.

Article Twevele The producer shall hold or be franchised or licensed the copyright of the software they produce.

Article Thirteen The software producers shall be responsible for the examination of the contents of their products.

Article Fourteen The quality of the relevant software shall comply with the relative technology and software standard, and the quality
certification system promulgated by the state, as well as the provisions of relevant laws and regulations.

Article Fifteen Software for the users shall be marked on the outer package with the name, version number, copyright owner, registration
number of the software, as well as the name and address of the producers (or the importer) and the date of production.

Article Sixteen The software products provided to users (including foreign software imported or produced locally) shall be accompanied
with adequate operation literature in Chinese, such as instructions, operation manuals etc.. The content, mode of technological service
as well as its suppliers shall be indicated on the product or in the above- mentioned operation literature, or in other written forms.

Article Seventeen All foreign software products imported or produced locally shall comply with stipulations of relevant laws, the
technology standards and norms of the state and of this regulation. Import or production of foreign software listed in article 4
of this regulation is prohibited. For foreign software products that do not comply with the nation’s technology standards, norms
or this regulation, or evidenced to be inferior in operation, or not up to their promised functions, the competent agencies in charge
of software, according to the specific situations, have the authority to decide either to restrict or forbid their importation or
local production.

Article Eighteen Production of pirated software, software for deciphering secret and software with the main function of removing technology-protection
measures are prohibited. Production of software containing contents listed in article 4 of this regulation is prohibited.

Article Nineteen Laser-disc producers approved by the competent agencies are not allowed to produce software items that have not been
registered or filed.

PART FOUR MANAGEMENT OF SOFTWARE PRODUCTS

Article Twenty The management of software products mainly takes the form of agency. Agency agreements in written form shall be signed
between agents (sellers of software products) and principals (developers and producers of software products), and between general
agents and sub- agent. Agency agreements shall specify the authority limit, geographical limit, time limit and technical services
of the agency relationship, and other necessary contents stipulated by the Ministry of Electronic Industry. Developers and producers
may also directly engage in the sale of their software products.

Article Twenty-One Agents are required to put up their agency qualification certificates in a conspicuous position in their business
places. The certificates shall include he terms of reference, time limit, geographical limit of agency and agency grading, etc.,
which are to be accordingly conveyed in the advertisements and other means of publicity run by the agent.

Article Twenty-Two Managing institution of software products shall conduct he management in the form of licensing. A written licensing
contract shall be signed between the managing and producing institutions. Managing institutions shall notify users to consult licensing
files before the sale of software products, and require them to indicate whether to give their approval.

Article Twenty-Three The software sellers shall sell the software products according to the stipulations of Article 15 and Article
16 and inform the user of the content, means, the fees and the provider of the relevant technical services in written form or on
file. In case providers of technical services are not specified, the software sellers shall be regarded as the providers of the relative
technical services. In case there is no indication of the extra service charges and the specified sum shall be regarded that the
relative charges have been included in the price of the products.

Article Twenty-Four No organizations are permitted to deal in software products which have not been registered and filed or software
products are with contents provide by Article 4 of this regulation or sell or provide free-of-charge pirated software products deciphering
secrets.

Article Twenty-Five Software products provided together with hardware, such as computers, shall comply with the relative stipulations
of this regulation.

Article Twenty-Six The testing edition of the software products shall be marked clearly and provided free of charge, and shall not
be sold for profit.

Article Twenty-Seven The Software Product Management Departments are enpost_titled to supervise and inspect such activities concerning
software products as R

    





ADMINISTRATIVE RULES FOR THE REPORTING OF LARGE-VALUE AND SUSPICIOUS RMB PAYMENT TRANSACTIONS

Order of the People’s Bank of China

No.2

In accordance with the Law of the People’s Republic of China on the People’s Bank of China and other laws and regulations , the Administrative
Rules for the Reporting of Large-Value and Suspicious RMB Payment Transactions has been adopted at the 7th executive meeting on September
17, 2002, and is hereby promulgated for implementation as of March 1, 2003.
President of the People’s Bank of China Zhou Xiaochuang

January 3, 2003

Administrative Rules for the Reporting of Large-Value and Suspicious RMB Payment Transactions

Article 1

These Rules are formulated in accordance with Law of the People’s Republic of China on the People’s Bank of China and other laws
and regulations in order to strengthen supervision over RMB payment transactions, regulate RMB payment transaction reporting activities
and prevent bank payment and settlement from being misused for money laundering and other law-violating and criminal activities.

Article 2

RMB payment transactions referred to in these Rules are RMB-denominated monetary payment made by institutions and individuals through
bills, bank cards, remittance, entrusted collection, custodian acceptance, online payment and cash and its clearing transactions.

Large-value payment transactions refer to any RMB payment transaction whose value is above the specified threshold.

Suspicious payment transactions refer to those RMB payment transactions with abnormality in amount, frequency, direction, use or nature.

Article 3

Policy banks, commercial banks, urban and rural credit cooperatives and their unions, postal savings institutions (hereinafter referred
to as financial institutions) licensed by the People’s Bank of China and established within the territory of the People’s Republic
of China shall abide by these Rules when handling payment transactions.

Article 4

The People’s Bank of China and its branch offices shall be charged with supervising and administering reporting of payment transactions.

Article 5

The People’s Bank of China shall establish a payment transaction monitoring system.

Article 6

Financial institutions shall create specialized anti-money laundering posts in their operational offices, specify their responsibilities,
and have specified staff record, analyze and report large-value payment transactions and suspicious payment transactions.

Article 7

The following transaction payments constitute large-value transaction payments:

(1)

Any single credit transfer above RMB one million yuan between legal persons, other organizations and firms created by self-employed
persons (hereinafter referred to as institutions);

(2)

Any single cash transaction above RMB 200,000 yuan, including cash deposit, cash withdrawal, cash remittance, cash draft, cash promissory
note payment.

(3)

Fund transfer above RMB200,000 yuan among individual bank settlement accounts, and between individual bank settlement account and
corporate bank settlement account.

Article 8

The following payment transactions constitute suspicious payment transactions:

(1)

Fund being moved out in large quantities after coming into a financial institution in small amounts and in many batches within a short
period of time or vice versa;

(2)

The frequency and amount of fund movement apparently not commensurate with the magnitude of an enterprise’s business operation;

(3)

Direction of fund movement apparently not commensurate with the range of business operation of an enterprise;

(4)

Current fund movement apparently not commensurate with the features of an enterprise’s business operation;

(5)

Regular occurrence of frequent fund movement apparently not commensurate with the nature and business operation of an enterprise;

(6)

Frequent fund movement within a short period of time between the same receiving party and the same paying party;

(7)

Sudden and frequent fund movement in and out of an account that has been dormant for a long time;

(8)

An enterprise frequently receiving individual remittance that is obviously unrelated to its range of business within a short period
of time;

(9)

Cash deposit and withdrawal whose amount, frequency and use are apparently different from the normal fund movement of a customer;

(10)

The accumulated cash movement through an individual bank settlement account exceeding RMB one million yuan within a short period of
time;

(11)

Frequent fund transfer within a short period of time to and from customers located in regions with serious drug-trafficking, smuggling
and terrorist activities;

(12)

Accounts being opened and closed frequently, and experiencing large fund movement before being closed;

(13)

Breaking large-value fund movement up into small amounts deliberately in order to escape large-value payment transaction monitoring;

(14)

Other suspicious payment transaction defined by the People’s Bank of China; or

(15)

Other suspicious payment transaction identified by a financial institution.

“A short period of time” referred to in thisArticle is 10 or less than 10 business days.

Article 9

When a depositor applies for opening a bank settlement account, the financial institution should examine the authenticity, completeness
and legality of the documents submitted by the depositor.

Article 10

A financial institution shall create depositor’s database to record information of holders of bank settlement accounts, including,
in the case of a corporate customer, the post_title of the institution, name of legal representative or person-in-charge and name and
number of his/her valid ID, supporting documents for opening the account, organization registration code, address, registered capital,
range of business, major parties of fund movement, average size of daily fund movement of the account, and in the case of an individual
customer, the name of the customer, name and number of his/her ID, address and other information.

Article 11

When a financial institution discovers from its customer any occurrence as listed inArticle 8 in the processing of payment and settlement
business, it shall record, analyze the suspicious payment transaction, and fill in the Suspicious Payment Transaction Reporting Form
before reporting the case.

Article 12

When a financial institution finds it necessary to further verify a case of suspicious payment transaction, it shall report to the
People’s Bank of China in a timely manner. When the People’s Bank of China inquires about a case of suspicious payment transaction,
the inquired financial institution shall find out the truth, reply promptly and record the case in the file.

Article 13

A financial institution shall keep the record of payment transactions in accordance with the regulations on bank accounting files.

Article 14

A financial institution shall formulate internal rules and operational procedures for payment transaction reporting in line with
these Rules, and report the rules and procedures to the People’s Bank of China.

A financial institution shall supervise and examine the implementation of these rules and procedures by its branch offices.

Article 15

Large-value fund transfer from accounts shall be reported by the financial institution through connecting its system with the payment
transaction monitoring system.

Large-value cash transfer shall be reported by the financial institution through its business processing system or by writing.

Suspicious payment transaction shall be examined by the financial institution at the counter and reported in writing or other forms.

Article 16

When a financial institution processes a large-value fund transfer, it shall report to the head office of the People’s Bank of China
within the next business day after the day of the transaction’s occurrence.

When a financial institution processes a large-value cash transfer, the financial institution shall report within the next business
day after the day of the transaction’s occurrence to the local branch office of the People’s Bank of China, who shall in turn report
to head office of the People’s Bank of China.

Article 17

When an operational office of a policy bank, a wholly state-owned commercial bank, or a joint-stock commercial bank discovers a suspicious
payment transaction, it shall fill in the Suspicious Payment Transaction Reporting Form and report to the tier-one branch of the
bank, who shall report, within the next business day after receiving the Form, to the regional branch, operations office and provincial
capital sub-branch of the People’s Bank of China, and at the same time report to its superior branch.

When an operational office of a city commercial bank, a rural commercial bank, a rural or urban credit cooperative or its union, a
wholly foreign-funded bank, a Chinese-foreign equity joint bank or a foreign bank’s branch discovers a suspicious payment transaction,
it shall fill in a Suspicious Payment Transaction Reporting Form and report to the local branch office, operations office, provincial
capital sub-branch or prefecture sub-branch of the People’s Bank of China. When a prefecture sub-branch of the People’s Bank of China
receives such a report, it shall report, within the next business day after receipt, to the branch, operations office or provincial
capital sub-branch of the People’s Bank of China.

Article 18

When an operational office of a financial institution finds, after analyzing a case of RMB payment transaction, the need for immediate
criminal investigation against the suspect, it shall report to the local public security authority immediately and its superior branch
at the same time.

Article 19

Branches, operation offices and provincial capital sub-branches of the People’s Bank of China shall analyze the Suspicious Payment
Transaction Reporting Forms submitted by financial institutions. When it is necessary for the reporting financial institution to
provide additional material or further explanation, the said financial institution shall be informed immediately.

Article 20

Each branch, operation office and provincial capital sub-branch of the People’s Bank of China shall make a weekly summary of the
Suspicious Payment Transaction Reporting Forms submitted by financial institutions and report to the head office of the People’s
Bank of China on the first business day of every week. The payment transaction shall be reported to the head office of the People’s
Bank of China immediately after its discovery if the case is serious.

Article 21

The People’s Bank of China and financial institutions shall not disclose to any institution or individual information about suspicious
payment transactions, unless otherwise stipulated by laws.

Article 22

When a financial institution fails to examine the document submitted for opening accounts in accordance with relevant regulations
and opens a settlement account for an individual, the People’s Bank of China shall issue a warning and concurrently impose on it
a fine between RMB1,000 yuan and RMB5,000 yuan. In a serious case, its senior executives directly responsible for such misconduct
shall be banned from taking any senior position in the financial industry.

Article 23

In the case of any of the following misconduct by a financial institution, the People’s Bank of China shall issue a warning and order
the financial institution to take remedial action within a specified period of time, and if the financial institution fails to do
so within the specified time limit, a fine up to RMB30,000 yuan may be imposed.

(1)

Opening account without examining the submitted materials according to relevant regulations that leads to the opening of a falsified
institutional bank settlement account;

(2)

Failing to create depositor’s databank or having incomplete depositor’s information;

(3)

Failing to keep customer transactions record as stipulated;

(4)

Failing to examine and report payment transactions in accordance with these Rules;

(5)

Failing to report any known suspicious payment transaction or a suspicious payment transaction that should have been reported;

(6)

Disclosing suspicious payment transaction information in violation ofArticle 21 .

Article 24

Disciplinary penalty shall be imposed on the staff of a financial institution who is/are involved in falsifying account-opening materials
to open bank settlement account(s) for individual(s) and facilitate money-laundering activities; when the misconduct constitutes
a violation of the criminal law, the case shall be transferred to judiciary authorities.

Article 25

When a financial institution seriously violates these Rules, the People’s Bank of China shall cease its approval for the institution
to open basic deposit account, suspend or terminate part or all of its payment and settlement business and ban the senior executives
directly responsible for such violations from taking any senior management position in the industry.

Article 26

Staff of the People’s Bank of China shall be imposed an administrative penalty in accordance with laws for any violation ofArticle
21 of these Rules.

Article 27

When “above”, “between” and “up to” are used to indicate a threshold number, a floor or a ceiling, the number that ensues any of
them is also included.

Article 28

These Rules shall enter into force as of March 1, 2003.



 
The People’s Bank of China
2003-01-03

 






CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE CONCERNING DISTRIBUTING THE RULES FOR THE IMPLEMENTATION OF MEASURES FOR STATISTIC DECLARATION OF INTERNATIONAL BALANCE OF PAYMENTS

The State Administration of Foreign Exchange

Circular of the State Administration of Foreign Exchange Concerning Distributing the Rules for the Implementation of Measures for
Statistic Declaration of International Balance of Payments

HuiFa [2003] No.21

February 21, 2003

Branches and foreign exchange administration departments under the State Administration of Foreign Exchange in provinces, autonomous
regions and municipalities directly under the Central Government, and branch administrations of Shenzhen, Dalian, Qingdao, Xiamen,
Ningbo; and Chinese-capital designated banks of foreign exchange:

In order to adapt to the changes of the system of statistic declaration of international balance of payments (IBOP), the State Administration
of Foreign Exchange revised the Rules for the Implementation of Measures for Statistic Declaration of International Balance of Payments,
which has been discussed at the meeting of the State Administration of Foreign Exchange and are hereby transmitted to you. The branch
administrations of foreign exchange shall distribute the Rules to the foreign-funded banks within their jurisdictions and relative
Chinese-capital designated banks of foreign exchange shall transmit the Rules to their branches for implementation. Attachment:Rules for the Implementation Measures for Statistic Declaration of Balance of International Payments

Article 1

These Rules are formulated according to the Measures for Statistic Declaration of IBOP.

Article 2

The State Administration of Foreign Exchange and its branches (hereinafter referred to as AFE) is the administrative authority responsible
for IBOP. Any bargainer shall declare its foreign trades and corresponding IBOP in any payment way including electronic payment in
local and foreign currency and cash according to relative provisions.

Article 3

Chinese residents who receive money from abroad through domestic financial institutions shall make statistic declaration of IBOP according
to relative operating procedures. The paying bank shall transmit the information on statistic declaration of IBOP through computer
system to AFE according to the provisions.

If a Chinese resident fails to make a declaration of IBOP according to the operating procedures within the declaring period, the money
received from abroad within such period stipulated by AFE may be paid by the paying bank only after the statistic declaration of
IBOP has been completed.

For non-Chinese residents who receive money from abroad through domestic financial institutions, such domestic financial institutions
shall make statistic declaration of IBOP according to the operating procedures and transmit the information on statistic declaration
of IBOP through computer systems to AFE.

Article 4

Chinese residents who pay money to abroad through domestic financial institutions shall make statistic declaration of IBOP according
to relative operating procedures. The paying bank may make the payments only after receiving the declarations and shall transmit
the information on the statistic declaration of IBOP through computer systems to AFE according to the provisions.

For non-Chinese residents who pay money to abroad through domestic financial institutions, the domestic financial institutions shall
make statistic declaration of IBOP according to the operating procedures and transmit the information on such declaration through
computer systems to AFE.

Article 5

For payees who receives money from abroad and payers who send money to abroad through domestic post institutions, the post institutions
shall be responsible for the statistic declaration of IBOP.

Article 6

China domestic currency exchange institutions that are engaged in exchanges from RMB into foreign or currency and vise versa shall
fill in the agiotage statistic declaration forms and declare these agiotage transacted to AFE according to relative provisions.

Article 7

Enterprises with Foreign investment in China and enterprises with direct investment abroad shall fill in the statistic declaration
forms of direct investment, and directly declare AFEs with the information on owner’s equity, credit/debt status and allocation of
dividends and interests.

Relative administrations shall provide the AFE with the foreign-related information concerning assets transfer, acquisition, merger,
reconstruction and disposition.

Article 8

The foreign-related securities investment shall be declared in term of the following provisions:

(1)

For the foreign-related securities transactions through China domestic securities exchanges, the domestic securities registration
institutions or securities exchanges shall fill in the statistic declaration forms of securities investments, and declare to AFE
these transactions and relative information concerning incomes/expenditure and allocations of dividends and interests.

(2)

For the securities transactions not through domestic securities exchanges (including securities business on own accounts and through
agents), the domestic securities dealers or domestic investors shall fill in the statistic declaration forms of securities investments,
and declare to AFE these transactions and relative information concerning incomes/expenditures and allocations of dividends and interests.

(3)

Chinese domestic institutions that have issued securities within China shall fill in the statistic declaration forms of securities
investments, and declare to AFE with these transactions and relative information concerning incomes/expense and allocations of dividends
and interests.

Article 9

Foreign-related futures and options shall be declared in the light of the following provisions:

(1)

For the foreign-related futures and options transacted through domestic future/option exchanges (exchange centers), such exchanges
(exchange centers) shall fill in the statistic declaration forms of securities investments, and declare to AFE these transactions
and relative information concerning incomes/expenditures.

(2)

For foreign-related futures and options transacted not through domestic future/option exchanges (exchange centers), the domestic securities
dealers or domestic investors shall fill in declaration forms of future/option transactions and report to AFE these transactions
and relative information concerning incomes/expenditures.

Article 10

Domestic financial institutions within China shall fill in the declaration forms of balance sheets and profit/loss statements of their
own assets abroad, and directly declare to AFE the information of balance and profit/loss of these assets.

Article 11

The Chinese non-financial institutions that opened overseas bank accounts shall fill in the declaration forms of incomes and expenditures
of overseas bank accounts, and declare to AFE the balances and changes of the overseas bank accounts, and provide to AFE relative
bank statements.

Article 12

The staff engaged in the statistic declaration of IBOP shall be trained for statistic declaration of IBOP and shall reach relative
levels.

Article 13

Branch administrations of foreign exchange shall transmit the information on statistic declaration of IBOP to the AFE at higher level
through computer system in the light of relative requirements.

Article 14

Any financial institution dealing with foreign exchange that fails to declare IBOP shall be imposed a warning according to provisions
of the Article 25 in Punishment Measures for Financial Illegal Activities and a fine of no less than 50,000 and no more than 300,000;
and the senior manager, the leading members who are directly in charge and other persons who are directly responsible for the offence
shall be imposed with disciplinary punishment of demerit record even expulsion; in case of serious offence, the senior manager who
is directly in charge of the financial institution shall be imposed with disciplinary punishment of dismissal even expulsion.

Article 15

For other acts in violation of the Measures of Statistic Declaration of International Balance of Payments, AFE shall impose them with
respective or contemporary warning and fine according to actual circumstances.

(1)

Failing to declare or failing to perform the responsibility of conveying the information;

(2)

Causing missing of declaration information on IBOP;

(3)

Misdeclaring, giving false information or disguising IBOP transactions;

(4)

Frustrating, impeding or destroying the examination or auditing by AFE on declaration information on IBOP.

The sum of penalties in above Paragraphs 1, 2 and 3 in this Article shall be within a range of 1%-5% for a single IBOP, but shall
be no more than RMB 30,000. The penalty in above Paragraph 4 in this Article shall be decided by AFE according to the seriousness
of the violation, but shall be no more than RMB 30, 000.

Article 16

AFEs shall investigate, examine and audit the statistic declaration acts for IBOP according to the Procedures of Punishments of the
State Administration of Foreign Exchange during Auditing the Statistic Declarations of IBOP, and relative institutions and their
staffs shall provide convenience for such investigation, examination and audit.

Article 17

For any violation of confidential regulations or leaking out the specific statistic declaration information on IBOP by the AFE, relative
institutions and staff may request the local AFE or upper level for disposing the offenders.

Article 18

The State Administration of Foreign Exchange is responsible for the interpretation for these Rules.

Article 19

These Rules shall enter into force as of March 1, 2003. The Rules of Implementation of Measures for Statistic Declaration of International
Balance of Payments promulgated by the State Administration of Foreign Exchange on November 23, 2003 shall be nullified simultaneously.



 
The State Administration of Foreign Exchange
2003-02-21

 






MEASURES FOR THE ADMINISTRATION OF FOREIGN-INVESTED BOOKS, NEWSPAPERS AND MAGAZINES DISTRIBUTION ENTERPRISES

the State Administration of Press and Publication, the Ministry of Foreign Trade and Economic Cooperation

Decree of the State Administration of Press and Publication and the MOFTEC of the PRC

No.18

The Measures for the Administration of Foreign-Invested Books, Newspapers and Magazines Distribution Enterprises, as passed at the
3rd Administrator’s Meeting of the State Press and Publication Administration on December 17, 2002 and at the 4th Ministerial Meeting
of the MOFTEC on March 7, 2003, is hereby promulgated, which enters into force on May 1, 2003.

Administrator of of the State Administration of Press and Publication Shi Yanyuan

Minister of the MOFTEC Shi Guangsheng

March 17, 2003

Measures for the Administration of Foreign-Invested Books, Newspapers and Magazines Distribution Enterprises

Article 1

In order to expand foreign exchange and cooperation and strengthen the administration over foreign-invested books, newspapers and
magazines distribution enterprises, the Measures are hereby formulated according to the Law of Sino-Foreign Equity Joint Ventures
of the PRC, the Law of Sino-Foreign Cooperative Joint Ventures of the PRC, the Law of Solely Foreign-funded Enterprises of the PRC,
the Regulation on Administration of Publication of the PRC and the relevant laws and regulations.

Article 2

The Measures are applicable to the foreign-invested books, newspapers and magazines distribution enterprises established in the territory
of the PRC.

The books, newspapers and magazines herein refer to those published by the publishing units approved by the publication administrative
department of the State Council.

The distribution business herein refers to wholesale and retail of the books, newspapers and magazines.

The foreign-invested books, newspapers and magazines distribution enterprises herein refer to the books, newspapers and magazines
distribution enterprises in the nature of Sino-foreign equity joint ventures or cooperative joint ventures jointly established in
the principle of equality and mutual benefits with approval by the relevant department of the Chinese government according to law
by foreign enterprises, other economic organization or individuals (hereinafter referred to as foreign investors) with Chinese enterprises
or other economic organizations (hereinafter referred to as Chinese investors) and those solely established by foreign investors
in the territory of the PRC.

Share-participation or M&A of foreign investors in domestic-invested books, newspapers and magazines distribution enterprises is one
of the modes for the establishment of foreign-invested books, newspapers and magazines distribution enterprises. In case of share-participation
or M&A of foreign investors in domestic-invested books, newspapers and magazines distribution enterprises, the enterprises shall
go through the formalities for conversion into foreign-invested enterprises according to the Measures.

Article 3

The foreign-invested books, newspapers and magazines distribution enterprises to be established with application are limited liability
companies or joint-stock companies.

Article 4

In case of undertaking of the distribution business of books, newspapers and magazines, the foreign-invested books, newspapers and
magazines distribution enterprises shall abide by the Chinese laws and regulations.

The normal operation and business of foreign-invested books, newspapers and magazines distribution enterprises, as well as the legitimate
rights and interests of the parties thereto are protected by the Chinese law.

Article 5

In selecting the sites for operation and business, the foreign-invested books, newspapers and magazines distribution enterprises shall
be in compliance with the requirements for urban planning.

Article 6

The administrative department of the press and publication of the State Council and the administrative department of foreign trade
and economic cooperation under the State Council shall be in charge of the administration over the examination, approval and supervision
of foreign-invested books, newspapers and magazines distribution enterprises.

The administrative department of the press and publication and the administrative department of foreign trade and economic cooperation
at and above county level shall in compliance with their function division be responsible for the supervision administration over
the foreign-invested books, newspapers and magazines distribution enterprises in their corresponding administrative areas.

Article 7

For establishing foreign-invested books, newspapers and magazines wholesale enterprises, the following conditions should be met:

(1)

Chinese and foreign investors shall be independently capable of civil liabilities in the capacity for undertaking of the distribution
business of books, newspapers and magazines, without records of violation of law or breach of disciplines in the past three years;

(2)

The legal representative or general manager shall have obtained the professional qualification certificate for distributors of publications
above medium level and the professional distributors shall have obtained the qualification certificate for distributors of publications
above primary level;

(3)

Having the fixed business site pertinent to the wholesale business with business area no less than 50m2, and the business area of
independently engaged operation site no less than 500m2;

(4)

Registered capital no less than RMB30m; and

(5)

Operation term no more than 30 years.

Article 8

For establishing foreign-invested books, newspapers and magazines retail enterprises, the following conditions should be met:

(1)

Chinese and foreign investors shall be independently capable of civil liabilities in the capacity for undertaking of the distribution
business of books, newspapers and magazines, without records of violation of law or breach of disciplines in the past three years;

(2)

The legal representative or general manager shall have obtained the professional qualification certificate for distributors of publications
above medium level and the professional distributors shall have obtained the qualification certificate for distributors of publications
above primary level;

(3)

Having the fixed business site pertinent to the business;

(4)

Registered capital no less than RMB5m; and

(5)

Operation term no more than 30 years.

Article 9

In case of investment participation with state-owned assets (including capital contribution after pricing or pricing as cooperative
terms), the Chinese investors shall go through the formalities for appraisal of the state-owned assets and confirmation (or filing)
of the appraisal results in compliance with the relevant state provisions.

Article 10

Prior to establishing the foreign-invested books, newspapers and magazines distribution enterprises, application documents should
be submitted to the administrative department of the press and publication of the provinces, autonomous regions, and municipalities
directly under the Central Government where the enterprises are located:

(1)

Application for the establishment of the foreign-invested books, newspapers and magazines distribution enterprises.

(2)

Project proposals and feasibilities study report signed by the legal representatives or the general managers of both parties to the
investment that have been compiled or recognized jointly by both parties. The project proposals shall indicate the following items:

1.

Names and residential places of investors of both parties;

2.

the name, legal representative, place, business scope, registered capital and total investment of the foreign-invested books, newspapers
and magazines distribution enterprises to be established; and

3.

Means of investment contribution by both parties and amount of contribution.

(3)

Business licenses or incorporation registration certification and qualification certification of investors, as well as the valid certification
and professional qualification certificates of the legal representatives of both parties.

(4)

In case the Chinese investors of the Sino-foreign equity joint venture or the cooperative joint venture participate in the investment
with state-owned assets, the report on the appraisal of the state-owned assets and the documents relating to the confirmation (or
filing) of the appraisal results should be submitted.

Within fifteen working days upon receipt of the application documents, the corresponding administrative department of the press and
publication of provinces, autonomous regions, and municipalities directly under the Central Government shall put forth opinions on
review and examination, which then should be submitted to for examination and approval by the administrative department of the press
and publication of the State Council.

Article 11

In submitting the application for foreign-invested books, newspapers and magazines distribution enterprises, the administrative department
of the press and publication of provinces, autonomous regions, and municipalities directly under the Central Government shall present
the following documents to the administrative department of the press and publication of the State Council:

(1)

the application documents stipulated by Article 10 of the Measures;

(2)

the opinions on review and examination by the administrative department of the press and publication of provinces, autonomous regions,
and municipalities directly under the Central Government;

(3)

other documents as specified by the provisions of laws and regulations.

Within thirty working days upon receipt of the application and the opinion on review and examination, the administrative department
of the press and publication of the State Council should make decisions on whether or not the approval is granted, which should be
notified in writing to the applicant by the administrative department of the press and publication of the provinces, autonomous regions,
and municipalities directly under the Central Government, and in case no approval is granted, the reasons thereof should be given.

Article 12

Upon obtaining the approval document from the administrative department of the press and publication of the State Council, the applicant
should according to the relevant laws and regulations submit application to the administrative department of foreign trade and cooperation
of the provinces, autonomous regions, and municipalities directly under the Central Government where the enterprises are located,
with the following documents submitted:

(1)

The application documents specified by Article 11 of the Measures and the approval documents granted by the administrative department
of the press and publication of the State Council;

(2)

The contract and articles of association of the foreign-invested books, newspapers and magazines distribution enterprises signed by
the legal representatives or authorized representatives of the parties to the investment;

(3)

Lists of the name and certification documents of the directors of the foreign-invested books, newspapers and magazines distribution
enterprises to be established;

(4)

Certificate on pre-verification of the name of the enterprises issued by the administrative department of industry and commerce; and

(5)

Other documents specified by the provisions of laws and regulations.

Within fifteen working days upon receipt of the application and the relevant documents, the administrative department of foreign trade
and economic cooperation of the provinces, autonomous regions, and municipalities directly under the Central Government put forth
the opinions on review and examination, which should be submitted for examination and approval by the administrative department of
foreign trade and economic cooperation of the State Council.

Article 13

In submitting the application for foreign-invested books, newspapers and magazines distribution enterprises, the administrative department
of foreign trade and economic cooperation provinces, autonomous regions, and municipalities directly under the Central Government
shall present the following documents to the administrative department of foreign trade and economic cooperation of the State Council:

(1)

the application documents stipulated by Article 12 of the Measures;

(2)

the opinions on review and examination by the administrative department of foreign trade and economic cooperation of provinces, autonomous
regions, and municipalities directly under the Central Government;

(3)

other documents as specified by the provisions of laws and regulations.

Within thirty working days upon receipt of all the documents specified, the administrative department of foreign trade and economic
cooperation of the State Council should make written decisions on whether or not the approval is granted, and in case the application
is approved, the Certificate on Approval for Foreign-Invested Enterprises should be issued.

Article 14

Within 90 days upon obtaining the approval, the applicant of the foreign-invested books, newspapers and magazines distribution enterprises
shall carry the approval documents and the Certificate on Approval for Foreign-Invested Enterprises and go to the administrative
department of the press and publication of provinces, autonomous regions, and municipalities directly under the Central Government
for obtaining the License of Publication Business. Then the applicant shall carry the License of Publication Business and the Certificate
on Approval for Foreign-Invested Enterprises and go to the local administrative department of industry and commerce for obtaining
the business license by force of law before undertaking of the distribution business of books, newspapers and magazines.

Article 15

In case the foreign-invested books, newspapers and magazines distribution enterprises established with approval apply for alteration
of the investors, registered capital, total investment, business scope, or operation term, corresponding formalities should be handled
with for alteration and registration in compliance with Article 10 through Article 14 .

In case of alteration of other items by the foreign-invested books, newspapers and magazines distribution enterprises, application
should be submitted for approval or filing by the administrative department of foreign trade and economic cooperation of the State
Council State Council in compliance with the provisions of foreign-invested enterprises. In case of alteration of the enterprise
name, place, legal representative, principal responsible persons and termination of the operation and business upon the expiration
term of the business term of the foreign-invested books, newspapers and magazines distribution enterprises, filing should be made
within thirty days with the local administrative department of the press and publication of the provinces, autonomous regions, and
municipalities directly under the Central Government.

Article 16

In case of renewal of the business term of the foreign-invested books, newspapers and magazines distribution enterprises upon it expiration,
the application should be submitted to the administrative department of foreign trade and economic cooperation of the State Council
180 days prior to the expiration of the business term, and the administrative department of foreign trade and economic cooperation
of the State Council shall make written decisions on whether approval would be granted within thirty days upon receipt of the application.
And in case of approval granted, filing should be made within thirty days with the local administrative department of the press and
publication of provinces, autonomous regions, and municipalities directly under the Central Government.

Article 17

The Measures are applicable to investors from Hong Kong and Macao Special Administrative Regions and Taiwan Area when they establish
books, newspapers and magazines distribution enterprises in other provinces, autonomous regions, and municipalities directly under
the Central Government of the PRC.

Article 18

In case the foreign-invested books, newspapers and magazines distribution enterprises are designated to online sales, chain operations,
reader clubs and other relevant businesses, the formalities should be handled with according to the provisions of Article 7 through
Article 14 of the Measures.

Article 19

The Measures shall enter into force as of May 1, 2003.

The provisions in the Measures on the establishment of foreign-invested books, newspapers and magazines wholesale enterprises shall
come into force as of December 1, 2004.



 
the State Administration of Press and Publication, the Ministry of Foreign Trade and Economic Cooperation
2003-03-17

 






ADMINISTRATIVE RULES FOR RMB BANK SETTLEMENT ACCOUNTS

The People’s Bank of China

Order of the People’s Bank of China

No. 5

In order to regulate the opening and use and strengthen management of RMB bank settlement accounts and to maintain financial stability,
Administrative Rules for RMB Bank Settlement Accounts enacted by the People’s Bank of China and adopted at the 34th executive meeting
of the bank president on August 21, 2002 are hereby promulgated and shall be come into force as of the day of September 1, 2003.

President of the People’s Bank of China, Zhou Xiaochuan

April 10, 2003

Administrative Rules for RMB Bank Settlement Accounts

Chapter I General Provisions

Article 1

These rules are formulated according to the “Law of the People’s Republic of China on the People’s Bank of China” and the “Commercial
Banking Law of the People’s Republic of China” so as to regulate the opening and use and strengthen management of RMB bank settlement
accounts (hereinafter referred to as “bank settlement accounts”) and safeguard economic and financial stability.

Article 2

These rules are applicable to bank settlement accounts opened by depositors with banks domiciled in China.

“Depositors” hereinafter refer to government agencies, social organizations, military units, enterprises, public institutions and
other organizations (referred as Institutions hereinafter), self-employed entities and natural persons that maintain settlement accounts
with banks in China.

Banks in these rules refer to policy banks, commercial banks (including wholly foreign-funded banks, Sino-foreign joint-equity banks
and branches of foreign banks), urban and rural credit cooperatives that are approved by the People’s Bank of China to engage in
payment and settlement business in China.

Bank settlement accounts in these rules refer to RMB demand deposit accounts opened by banks for depositors to effect payment and
settlement of funds.

Article 3

Bank settlement accounts may be classified on the basis of the nature of depositors into bank settlement accounts for institutions
and bank settlement accounts for individuals.

(1)

A bank settlement account opened by a depositor in the name of an institution is a bank settlement account for institution. Based
on their uses, bank settlement accounts for institutions may be divided into basic deposit accounts, general deposit accounts, special
deposit accounts and temporary deposit accounts.

Bank settlement accounts opened by self-employed entities with the brand of their products or the name of the owner appeared in the
business license shall be managed as bank settlement accounts for institutions.

(2)

A bank settlement account opened by a natural person depositor with his or her ID is a bank settlement account for individual.

Banking accounts opened by postal savings institutions to conduct banking card business shall be managed as bank settlement accounts
for individuals.

Article 4

A depositor opening bank settlement accounts for institutions may only keep one basic deposit account in banks.

Article 5

Depositors shall open bank settlement accounts in the place where they are registered or located, except for those allowed by these
rules to open bank settlement accounts outside their places of residence (in different provinces, cities or counties).

Article 6

Opening of basic deposit accounts, temporary deposit accounts, or opening of special deposit accounts by budget units shall be subject
to review and approval of the People’s Bank of China. With the approval, the bank that is to hold the account shall issue a registration
certificate of opening of such an account. However, temporary deposit accounts opened by depositors for the purpose of examination
of registered capital requirement compliance are exempted from such a stipulation.

Article 7

Depositors may make their own choices of banks to open bank settlement accounts. No institutions or individuals are allowed to command
depositors to open bank settlement accounts with designated banks, unless stipulated otherwise by laws, administrative regulations
or rules of the State Council.

Article 8

The opening and use of bank settlement accounts shall be conducted in accordance with laws and administrative regulations. It is not
allowed to use bank settlement accounts to evade tax and debt payment, make illegal encashment or for other criminal purposes.

Article 9

Banks shall ensure confidentiality of information about depositors’ bank settlement accounts. Banks shall have the right to decline
any inquires by institutions or individuals on deposits and other relevant information on bank settlement accounts for institutions,
unless stipulated otherwise by the laws and administrative regulations. Banks shall also have the right to decline any inquiries
by institutions or individuals on deposits and other relevant information on bank settlement accounts for individuals, unless stipulated
otherwise by the laws and administrative regulations.

Article 10

The People’s Bank of China is the supervisory authority of bank settlement accounts.

Chapter II Opening of Bank Settlement Accounts

Article 11

The basic deposit accounts are bank settlement accounts that the depositors need to open to conduct day-to-day transfer and settlement
of funds as well as receipt and payment of cash. Following depositors are eligible to open basic deposit accounts:

(1)

An enterprise that is a legal entity.

(2)

An enterprise that is not a legal entity.

(3)

Government agencies and public institutions.

(4)

Military units, armed police and detachment on separate missions that are above regiment level.

(5)

Social organizations.

(6)

Non-enterprise private organizations.

(7)

Permanent office outside its place of residence.

(8)

Resident offices of international organizations in China.

(9)

Self-employed entities.

(10)

Community agencies.

(11)

Subsidiaries of institutions that maintain independent accounts.

(12)

Other organizations.

Article 12

General deposit accounts are bank settlement accounts opened by a depositor for borrowing or other payment needs with banks other
than the bank that holds the basic deposit account.

Article 13

Special deposit accounts are bank settlement accounts opened by a depositor to separately manage and use earmarked funds in accordance
with laws, administrative rules or regulations. Depositors may apply for opening of special deposit accounts for the management and
use of following type of funds:

(1)

Funds for capital construction.

(2)

Funds for technology upgrading.

(3)

Extra budgetary funds.

(4)

Funds for procurement of grain, cotton and edible oil.

(5)

Settlement funds for securities transactions.

(6)

Margin funds for futures trading.

(7)

Trust funds.

(8)

Interbank deposits of financial institutions.

(9)

Funds for policy encouraged real estate development.

(10)

Deposit reserves for banking cards of enterprises.

(11)

Housing provident funds.

(12)

Social security funds.

(13)

Surrendered proceeds and funds for business spending.

(14)

Operational funds for offices of the Party, the Youth League and the Trade Union institutions.

(15)

Other funds that need to be separately managed and used.

Surrendered proceeds and funds business spending refer to income and expenses of non-financially independent subsidiaries detachments
affiliated with or of the depositors that own basic deposit accounts.

Special deposit accounts opened for surrendered proceeds and funds for business spending shall use the name of the parent institution.

Article 14

Temporary deposit accounts are bank settlement accounts opened by a depositor for temporary need and to be used in a limited period
of time. Depositor may apply for opening of temporary deposit accounts on the following occasions:

(1)

Establishment of temporary institutions.

(2)

Temporary operations in different places.

(3)

Examination of registered capital requirement compliance.

Article 15

Bank settlement accounts for individuals are deposit accounts opened by natural persons for investment, consumption and settlement
purpose, which may be used to carry out payment and settlement businesses. A depositor may apply for opening of bank settlement accounts
for individuals on the following occasions:

(1)

Using credit payment instruments such as checks and credit cards.

(2)

Conducting settlement business such as remittance, regular credit, regular debit and debit card business.

A natural person may either apply for opening of bank settlement accounts for individuals according to his or her own needs, or select
an existing saving account as a bank settlement account for individuals after applying to the account-holding bank and get its permission.

Article 16

A depositor may open bank settlement accounts outside its place of residence on any of the following occasions:

(1)

Places of business registration and operation are in different administrative areas (different provinces, cities, counties), which
entails the need of opening of basic deposit accounts.

(2)

Borrowing from other places or conducting other settlement, which need to open general deposit accounts.

(3)

A depositor needs to open special deposit accounts for surrendered proceeds or business spending of its non-financially independent
subsidiaries or detachments.

(4)

Conducting temporary business operation outside its place of residence that need to open temporary deposit accounts.

(5)

A natural person that needs to open bank settlement accounts for individual used outside its place of residence.

Article 17

When applying for opening basic deposit accounts, a depositor shall produce documents according to the following rules:

(1)

If the depositor is an enterprise that is a legal entity, it shall present the original copy of the business license for a legal entity.

(2)

If the depositor is an enterprise that is not a legal entity, it shall present the original copy of the business license for an enterprise.

(3)

Government agencies and public institutions that are included in the budget process shall produce approval letters or certificates
of registration issued by the personnel department or staffing quota commission of the government, and permission issued by fiscal
agencies. Public institutions that are not included in the budget process shall produce approval letters and certificates of registration
issued by the personnel department or staffing quota commission of the government.

(4)

Military units, armed police units at or above regimental level and detachments on separate missions shall present certificates of
account holding by the treasury departments in units that are above army level or in headquarters of the armed police.

(5)

Social organizations shall produce their registration certificates, while religious organizations shall produce approval letters or
certificates issued by religious affairs administration authorities as an addition.

(6)

Private non-enterprise organizations shall produce registration certificates for private non-enterprise organizations.

(7)

Resident offices outside their places of residence shall produce approval letters issued by the government of where they are located.

(8)

Resident offices in China of international organizations shall produce approval letters or certificates issued by relevant Chinese
authorities; representative offices or operational branches of foreign companies shall produce registration certificates issued by
the Chinese registration agencies.

(9)

Self-employed entities shall produce original copies of their business licenses.

(10)

Community agencies shall produce approval letters and certificates issued by relevant authorities.

(11)

Financially independent subsidiaries shall produce registration certificates for opening of basic deposit accounts and approval letters
issued to entities to which they are affiliated.

(12)

Other organizations shall produce approval letters or certificates issued by relevant authorities.

Depositors in this Article that are taxpayers and engaged in productive and commercial activities shall, in addition, produce tax
registration certificates issued by the taxation authority.

Article 18

When applying for opening general deposit accounts, a depositor shall produce relevant documents according to the following requirements,
in addition to the documents required for opening basic deposit accounts and the registration certificate of opening basic deposit
accounts:

(1)

If in need of borrowing from banks, the depositor shall produce borrowing contracts.

(2)

If for the purpose of conducting other settlement, the depositor shall produce relevant documents.

Article 19

When applying for opening special deposit accounts, a depositor shall produce relevant documents according to the following requirements,
in addition to the documents required for opening basic deposit accounts and the registration certificate of opening basic deposit
accounts:

(1)

As for depositing funds of capital construction, technology upgrading, policy encouraged real estate development, housing provident
funds and social security funds, the depositor shall produce approval documents of relevant authorities.

(2)

As for depositing extra budgetary funds, the depositor shall produce approval of fiscal agencies.

(3)

As for depositing funds for procurement of grain, cotton and edible oil, the depositor shall produce approval of relevant authorities.

(4)

As for depositing reserve funds of institutions for banking card transactions, the depositor shall produce relevant documents according
to the rules on banking card transactions approved by the People’s Bank of China.

(5)

As for depositing settlement funds for securities transactions, the depositor shall produce certificates issued by securities firms
or the securities supervisory authority.

(6)

As for depositing margin funds for futures trading, the depositor shall produce certificates issued by futures firms or the futures
supervisory authority.

(7)

As for interbank deposits of financial institutions, the depositor shall produce relevant certificates.

(8)

As for depositing surrendered proceeds and funds for business spending, the depositor shall produce relevant certificates of the depositors
holding basic deposit accounts.

(9)

As for depositing operational funds for offices of the Party, the Youth League and the Trade Union in institutions, the depositor
shall produce approval documents or certificates issued by these institutions or relevant authorities.

(10)

As for depositing other funds required to be managed or used separately, relevant copies of laws and regulations or relevant documents
of government shall be produced.

Article 20

Special RMB account and RMB fund settlement accounts opened by qualified foreign institutional investors (QFII) for the convenience
of domestic securities investment shall be managed as special deposit accounts. A QFII shall produce approval issued by the State
Administration of Foreign Exchange for opening special RMB account, and in the case of opening RMB fund settlement account, the business
license for securities investment issued by the securities authority is required.

Article 21

When applying for opening temporary deposit accounts, a depositor shall produce relevant documents to banks according to the following
rules:

(1)

As for temporary institutions, they shall produce approval for their establishments issued by relevant authorities in residence place.

(2)

As for construction or equipment installation enterprises operating outside their original registration location, they shall produce
original copies of their or their parent institutions’ business licenses, and permission issued by local construction/equipment installation
authorities or contracts of construction/equipment installation.

(3)

As for institutions engaged in temporary operations outside their original registration location, they shall produce original copies
of their business licenses and approval issued by local administration bureaus of industry & commerce.

(4)

As for funds deposited for registration and examination of capital requirement compliance, the depositor shall produce Notice of Advance
Approval of Enterprises’ Names issued by the administrative authorities of industry & commerce or approval of other relevant authorities.

Depositors that fall into section (2) and (3) shall, in addition, produce their registration certificates for opening of basic deposit
accounts.

Article 22

When applying for opening of bank settlement accounts for individuals, depositors shall produce ID cards to banks according to the
following rules:

(1)

Residents of China shall produce ID cards or temporary ID cards.

(2)

Military units servicemen shall produce their army ID cards.

(3)

Armed Police shall produce their armed police ID cards.

(4)

Residents of Hong Kong, Macau and Taiwan shall produce valid ID cards issued by the state immigration/emigration authorities.

(5)

Foreign citizens shall produce passports.

(6)

Other valid certificates stipulated by laws, regulations and relevant state documents.

When opening bank settlement accounts for individuals, banks may also require applicants to produce other valid certificates accordingly,
including certification of permanent residence registration (Hukou), driving licenses or passports.

Article 23

When a depositor needs to open bank settlement accounts for institutions outside their original registration location, relevant certificates
shall be provided according to the following rules in addition to the relevant documents required to be submitted in Article 17 ,
18, 19, 20 of these rules:

(1)

Depositors that are registered and operating outside their administrative places, when opening basic deposit accounts outside their
original registration location, shall produce certificates issued by branch office(s) of the People’s Bank of China in where they
are registered, which prove that they have not opened basic deposit accounts.

(2)

Depositors that borrow from outside their original registration location, when opening general deposit accounts outside their places
of residence, shall produce borrowing contracts proving they have got loans from that location.

(3)

Depositors to effect proceeds surrender and business spending outside their original registration location due to operational needs,
when opening special deposit accounts in that location, shall produce relevant certificates of their parent institutions.

Depositors that fall into Section (2), (3) of this Article shall, in addition, produce their registration certificates of opening
of basic deposit accounts.

Depositors that need to open bank settlement accounts for individuals outside their original registration location shall produce certificates
required by Article 21 of these rules.

Article 24

post_titles that institutions use to open bank settlement accounts shall be consistent with those they provide in their certificate documents
for application for opening of accounts. A self-employed entity with a brand name shall ensure consistence of the post_title of its bank
settlement account and the brand name recorded in its business license. post_titles of bank settlement accounts opened by self-employed
entities that have no brand name shall comprise characters of “Self-employed Entities” and “names” of the owners recorded in their
business licenses. post_titles of bank settlement accounts opened by natural persons shall be consistent with names in the valid ID certificates
provided.

Article 25

When a bank opens a general deposit account, an special deposit account or a temporary deposit account for a depositor, it shall inform
the bank that holds the basic deposit account for that depositor within 3 working days after the opening of such accounts.

Article 26

Applications for the opening of bank settlement accounts for institutions may be filed by the legal person or head of the applying
institution, or other people authorized by that institution.

If it is the legal entity or head of the institution that files the application, in addition to required certificates, he or she still
needs to produce his or her ID card. In the case of other people authorized by the institution, in addition to the required certificates,
he or she still needs to produce authorization issued by and the ID card of the legal entity or head of that institution, as well
as his or her own ID card.

Article 27

When applying for opening of bank settlement account, a depositor shall fill the application form for opening of such account. The
application form is to record relevant information required by the People’s Bank of China.

Article 28

Banks shall carefully verify the authenticity, integrity and regulatory compliance of certificate and filled-in information in the
application form.

When the application form is filled completely and meets the requirements for opening a basic deposit account, a temporary deposit
account or an special deposit account of a budget unit, the bank shall send to the local branch office of the People’s bank of China
the filled application form, the required certificates and review conclusion of the bank and go on with the opening account process
after being approved by the local branch office of the People’s Bank of China. As to applications that meet the requirements for
opening general deposit accounts, other special deposit accounts or bank settlement accounts for individuals, banks shall carry out
the opening account process right away and file the case with the local branch office of the People’s Bank of China within five working
days after the opening of such accounts.

Article 29

The People’s Bank of China shall review the regulatory compliance of the documents submitted for opening basic deposit accounts, temporary
deposit accounts and special deposit accounts of budget units within two working days. It shall approve those eligible applications,
while sign and return those ineligible application forms along with the submitted certificates back to the bank.

Article 30

When opening a bank settlement account for a depositor, the bank shall sign an agreement with the depositor on the management of that
bank settlement account, defining rights and obligations of either party. It shall also keep cards that contain the stamp or signature
of the depositor and keep files of the original copies or duplicates of the stamp or signature and required certificates.

Article 31

Registration certificates of opening accounts are the valid proof containing information on bank settlement accounts for institutions.
Depositors shall use these certificates in accordance with these rules and keep them in safe place.

Article 32

When opening general deposit accounts, special deposit accounts or temporary deposit accounts for depositors, banks shall record on
the registration certificates of basic deposit accounts names of the accounts, numbers of the accounts, nature of the accounts, banks
to hold the accounts and the opening date of the accounts and stamp on it. Temporary deposit accounts that are opened by temporary
institutions or in need of registration and examination of capital requirement compliance are exempted from this requirement.

Chapter III Use of Bank Settlement Accounts

Article 33

Basic deposit account is the principal account for a depositor. Funds receipt and payment in depositors’ day-to-day operations, as
well as withdrawal of salary, bonus or cash, shall all be conducted through this account.

Article 34

General deposit account is to be used for depositing borrowing proceeds, repaying debt and other settlements. Such an account may
be used to surrender cash, but is prohibited from being used to withdraw cash.

Article 35

Special deposit account is to be used for receipt and payment of various earmarked funds.

Funds deposited in enterprise banking card accounts shall only be transferred from the basic deposit accounts and are not allowed
to be used for cash receipt and payment.

Cash withdrawal is not allowed from special deposit accounts for extra budgetary funds, settlement funds of securities transactions,
margin funds for futures trading and trust funds.

If depositors need to withdraw cash from accounts set for depositing funds of capital construction, technology upgrading, policy encouraged
real estate development or interbank deposits of financial institutions, they shall apply for approval of the local branch office
of the People’s Bank of China when applying for opening such accounts. The local branch office of the People’s Bank of China shall
review and approve the applications according to rules on cash management.

Cash withdrawal from special deposit accounts for depositing social security funds, housing provident funds and funds for procurement
of grain, cotton and edible oil shall be carried out in accordance with rules on cash management.

Accounts set for depositing proceeds surrender are not allowed to conduct payment transactions except for transferring funds to the
basic deposit accounts or special deposit accounts for extra budgetary funds. No cash withdrawal is allowed. Accounts for effecting
business spending are not allowed to receive funds except for funds transferred from the basic deposit accounts. Cash withdrawal
from such accounts shall be conducted in line with rules on cash management.

Banks shall reinforce surveillance according to these rules and rules on management and use of funds for procurement of grain, cotton
and edible oil. Banks shall not conduct funds receipt and payment and cash withdrawal that are in violation of relevant rules and
regulations. However, banks are not responsible for supervising the use of other earmarked funds.

Article 36

Temporary deposit accounts are to be used for funds receipt and payment resulted from temporary operations by temporary institutions
or depositors.

The validity period of temporary deposit accounts shall be determined according to the validity period defined in the relevant certificate
for opening of such accounts, as well as the need of the depositors. If depositors need to extend the validity period while using
such accounts, they shall apply to the bank that holds the account during the validity period. Then the bank shall submit such applications
to the local branch office(s) of the People’s Bank of China and make the extension upon approval. Validity period of temporary deposit
accounts shall not be longer than two years.

Cash withdrawal from the temporary deposit accounts shall be conducted in accordance with relevant rules on cash management.

Article 37

Temporary deposit account opened for depositing funds for registration and examination of capital requirement compliance may only
be used to receive funds (not to disburse funds) during the examination period. The name of the person who provides such funds shall
be the same as that of the investor.

Article 38

In the case of depositors opening bank settlement accounts for institutions, such accounts may only be used to conduct payment transactions
three working days after their opening. However, conversion of a temporary deposit account for registration and examination of capital
requirement compliance into a basic deposit account, as well as a general deposit account opened to deposit borrowing proceeds, are
exempted from this restriction.

Article 39

Bank settlement accounts for individuals are to be used to conduct individuals’ receipt and disbursement of fund transfers, as well
as cash deposit and withdrawal. Following funds are allowed to be transferred to bank settlement accounts for individuals:

(1)

Income of salary and bonus.

(2)

Author’s remuneration and performance remuneration of actors.

(3)

Principle and returns of investment such as bonds, futures and trust.

(4)

Gains from transfer of personal debt or ownership.

(5)

Deposits of retail loan proceeds.

(6)

Settlement funds for securities transactions and margin funds for futures trading.

(7)

Inherited or granted funds.

(8)

Insurance compensation and returned premium.

(9)

Tax rebate.

(10)

Sales income of agricultural and mineral products.

(11)

Other legitimate proceeds.

Article 40

When an institution disburses funds from its bank settlement account to a bank settlement account for individuals, it shall produce
to the bank that holds its account the following warrants to effect the disbursement if the disbursement is over RMB 50 thousand
Yuan:

(1)

Agreement on entrusted salary payment and the name list of recipients.

(2)

Certificates of rewards.

(3)

Contracts signed between recipients and the publishing houses or sponsors of the show performance, or certificates of disbursement
to individuals

(4)

Certificates of disbursement or rebate of funds to natural persons by securities firms, futures firms, trust and investment companies
and lottery issuers or underwriters.

(5)

Agreement of debt or ownership transfer.

(6)

Borrowing contract.

(7)

Warrant of insurance company.

(8)

Warrant of taxation authorities.

(9)

Purchase and sale contracts of agricultural and mineral products.

1...345...22Page 4 of 22

CONSTITUTION ACT, 1982 – page 22

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

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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