PROVISIONS CONCERNING THE ADMINISTRATION OF FOREIGN-FUNDED BUSINESS-STARTING INVESTMENT ENTERPRISES

The Ministry of Foreign Trade and Economic Cooperation, the Ministry of Science and Technology, the State Administration for Industry
and Commerce, the State Administration of Taxation, the State Administration of Foreign Exchange

Decree of the Ministry of Foreign Trade and Economic Cooperation, the Ministry of Science and Technology, the State Administration
for Industry and Commerce, the State Administration of Taxation and the State Administration of Foreign Exchange

No.2

The Provisions Concerning the Administration of Foreign-funded Business-starting Investment Enterprises were adopted at the 11th ministerial
meeting of the Ministry of Foreign Trade and Economic Cooperation. It is hereby promulgated and shall be implemented as of March
1, 2003.

Minister of the Ministry of Foreign Trade and Economic Cooperation Shi Guangsheng

Minister of the Ministry of Science and Technology Xu Guanhua

Director general of the State Administration for Industry and Commerce Wang Zongfu

Director general of the State Administration of Taxation Jin Renqing

Director general of the State Administration of Foreign Exchange Guo Shuqing

January 30, 2003

Provisions Concerning the Administration of Foreign-funded Business-starting Investment Enterprises

Chapter I General Provisions

Article 1

The present Provisions are formulated to encourage foreign-funded companies, enterprises and other economic organizations or individuals
(hereinafter referred to as foreign investors) to come to China to engage in business-starting investments, and to establish and
perfect the mechanism of business-starting investments in China in accordance with the Law of the People’s Republic of China on Chinese-foreign
Contractual Joint Ventures, the Law of the People’s Republic of China on Chinese-foreign Equity Joint Ventures, the Law of the People’s
Republic of China on Foreign-capital Enterprises, the Company Law of the People’s Republic of China and other related laws and regulations.

Article 2

The term “foreign-funded business-starting investment enterprise ” (hereinafter referred to as FBIE” refers to the foreign-funded
investment enterprises established by foreign investors or by foreign investors jointly with companies, enterprises or other economic
organizations established and registered in China in accordance with the Chinese law (hereinafter referred to as Chinese investors).
To establish an FBIE shall be in conformity with the present Provisions. It shall mainly engage in business-starting investments.

Article 3

The term “business-starting investment” means making principal equity investments to high and new tech enterprises that haven’t been
listed in the stock market (hereinafter referred to as invested enterprises), and providing management services to them for the prospective
capital gains.

Article 4

An FBIE is allowed to take the form of the non-legal-person organization or the corporate organization.

As to a non-legal-person organization, the investors shall bear joint liabilities for its debts. The investors may also specify in
the contract of the FBIE that: When the assets of an FBIE are not enough to clear the debts of this enterprise, the indispensable
investors as stated in Article 7 shall bear joint liabilities and the other investors shall bear the liabilities to the company
within the limit of contributions made by each of them.

For a corporate-form FBIE, the investors shall bear the liabilities to the company within the limit of the amount of investment made
by each of them.

Article 5

The FBIEs shall abide by relevant laws and regulations of China, shall be in conformity with the policies of foreign investment industries
and shall not damage the public interests of China. The legitimate businesses and lawful rights and interests of the FBIE within
the borders of China shall be subject to the protection of Chinese law.

Chapter II Establishment and Registration

Article 6

To establish an FBIE, the following requirements shall be met:

(1)

There are more than 2 but less than 50 investors, and at least one shall be an indispensable investor as stated in Article 7 ;

(2)

The investors of a non-legal-person organization shall subscribe to a minimum total contribution in the sum of 10, 000, 000 U.S. $.
The investors of an incorporated FBIE shall subscribe to a minimum total capital in the sum of 5, 000, 000 U.S. $. Except for the
indispensable investors as provided in Article 7 , each of the other investors shall subscribe to a minimum capital contribution
no less than 1, 000, 000 yuan. Foreign investors may contribute their investments in convertible currencies and Chinese investors
may contribute their investments in Renminbi.

(3)

It shall have definite organization form;

(4)

It shall have a definite and legitimate investment direction;

(5)

Except that the operations of such an enterprise are subject to the management of a business-starting investment management company
under authorization, an FBIE shall have at least 3 professional managerial persons who have practical experience in business-starting
investment;

(6)

It shall meet the other requirements as provided in laws and administrative regulations.

Article 7

An indispensable investor shall meet the following requirements:

(1)

Business-starting investment is its main business;

(2)

The accumulative total capital managed by it in the three years before the application is not less than 100, 000, 000 U.S. dollars,
and of which no less than 50, 000, 000 U.S. dollars have been used in business-starting investment If the indispensable investor
is a Chinese investor, the accumulative total capital managed thereby in the three years before the application is submitted is not
less than 100, 000, 000 Yuan, and of which no less than 50, 000, 000 yuan have been used in business-starting investment;

(3)

It shall have at least 3 professional managerial persons who have practical experience in business-starting investment;

(4)

If the affiliated entity of an investor meets the above-mentioned requirements, the investor may apply for the status of an indispensable
investor. The term “affiliated entity” in this paragraph refers to an entity controlled by the investor, or an entity that controls
the investor, or another entity that subject to the control of the same entity that controls the investor. The term “control” in
this paragraph means that the controlling party has a voting power of more than 50 % over the controlled party.

(5)

Neither the above-mentioned indispensable investor nor its affiliated entity shall have any record of being prohibited from engaging
in business-starting investment or business of investment consultancy, or being punished for the reason of cheat, by the judicial
departments and other relevant agencies of the country where it is located;

(6)

An indispensable investor of a non-legal-person enterprise shall subscribe to and actually pay not less than 1 % of the subscribed
contributions and the actual total contributions respectively, and it shall bear joint liabilities for the debts of this enterprise.
An indispensable investor of an incorporated FBIE shall subscribe to and actually pay not less than 30% of the subscribed contributions
and the actual total contributions respectively.

Article 8

The following procedures shall be observed in the establishment of an FBIE:

(1)

The investors shall submit the establishment application and relevant documents to the administrative departments in charge of foreign
trade and economic cooperation at the provincial level of the place where the FBIE is to be established.

(2)

The administrative departments in charge of foreign trade and economic cooperation at the provincial level shall complete the original
examination and report to the Ministry of Foreign Trade and Economic Cooperation (hereinafter referred to as the MOFTEC) within 15
days as of the acceptance of the above-mentioned materials.

(3)

The MOFTEC shall, with the consent of the Ministry of Science & Technologymake a written decision on approval or disapproval within
45 days as of the acceptance of all the above-mentioned materials. And it shall issue a Certificate of Approval for Foreign-invested
Enterprises to the approved enterprises.

(4)

With the approved of establishing an FBIE, the applicant shall file an application for registration at the State Administration of
Industry and Commerce or at local bureaus with its authorization by presenting the Certificate of Approval for Foreign-invested Enterprise
within one month as of the acceptance of the Certificate of Approval for Foreign-invested Enterprise.

Article 9

The following documents shall be submitted to the MOFTEC when applying for the establishment of an FBIE:

(1)

an establishment application signed by the indispensable investors;

(2)

contracts and articles of association of the FBIE signed by all the investors;

(3)

a written declaration made by the indispensable investors (covering: a. the investors meet the requirements as provided in Article
7 ; b. all the materials submitted are genuine; and c. the investors will strictly abide by the present provisions and other relevant
Chinese laws and regulations);

(4)

a letter of legal advice issued by a law firm affirms that the legal indispensable investors exist and the above-mentioned declaration
has got valid authorization and has been signed;

(5)

explanations of the business-starting operations of the foreign investors, explanations of the capital managed by them of the three
years before the application is submitted, explanations of the investment made among the capital managed by them of the three years
before the application is submitted, resumes of its professional managerial persons of business-starting investment;

(6)

the registration certificate of the investors (photocopy) and the certificate of the legal representative (photocopy);

(7)

the notice of pre-approval of the name of the FBIE issued by the name registration organ;

(8)

If the qualifications of the indispensable investors are based on the requirements as provided in paragraph (4) of Article 7 , they
shall submit relevant materials of the affiliated entity that meets the requirements;

(9)

other documents related to the establishment application as required by the examination and approval authority.

Article 10

The FBIEs shall give a clear indication of “Business-starting Investment” in its name. Except for business-starting investment enterprises,
none of the other foreign investment enterprises may use the aforesaid words in their name.

Article 11

In applying for establishing an FBIE, the following documents shall be submitted to the registration organ and shall be responsible
for their authenticity and effectiveness:

(1)

registration application signed by the chairman of the board of directors or by the person-in-charge of the joint management committee;

(2)

contracts, articles of association, the documents and certificate of approval issued by the approving authorities;

(3)

legal license to do business or the certification of the ID of the investor;

(4)

credit certification of the investor;

(5)

appointment documents and the certification of the ID of the legal representative and archival documents of the directors and managers
of this enterprise;

(6)

notice of pre-approval of its name;

(7)

the certification of the address of the enterprise and the certification of its business offices.

In the case of applying for establishing a non-legal-person organization, the applicant shall submit the articles or agreement of
overseas indispensable investors besides the aforesaid materials. Where an enterprise includes investors as provided in Article 7
(4) of the present Provisions, the applicant shall submit the letter of undertaking issued by its affiliated entity, which is to
bear the joint liabilities of investments. All of the aforesaid documents should be written in Chinese. Those written in foreign
languages other than Chinese shall be accompanied by good Chinese translations.

An FBIE should apply to the original registration organ for the modification registration of its modified registration matters.

Article 12

Upon the approval of the registration organ, the incorporated FBIEs shall be issued the business license of legal entity, and the
non-legal-person FBIEs shall be issued a business license.

A business license shall clearly states the total registered capital of the investors and the names of the dispensable investors.

Chapter III Capital Contributions and Relevant Modifications

Article 13

The capital contributions made by the investors of a business-starting enterprise without qualifications of legal entity and the relevant
modifications shall be in conformity with the following:

(1)

The investors may pay the their subscribed capital by installments according to the proceedings of the business-starting investment,
but the longest term shall be no more than 5 years. The amount of capital to be invested at each stage shall be decided by the FBIE
itself according to the contract of the enterprise and the agreement concluded by it and its invested enterprise. In the contract,
the investors shall stipulate liabilities of the investors who do not pay the subscribed capital contributions and relevant measures.

(2)

During the period of the continuous existence of the FBIE, the investors generally shall not reduce their subscribed amount of capital.
Upon approval of the examination and approval organ, an investor may reduce its subscribed amount of capital if the said amount exceeds
50 % of the total provided that it has obtained the consent of the indispensable investors and the business-starting FBIE isn’t in
violation of the requirement of minimum registered capital of 1, 000, 000 U.S. $ (The present provision shall not be applicable to
a case where an investor reduces its invested amount of capital in accordance with item (5) of this Article or the FBIE reduces the
untapped capital when its term of investment expires). In this case, the investors shall stipulate the conditions, procedure and
methods for reducing the subscribed amount of capital in the contract of the FBIE;

(3)

Indispensable investors shall not withdraw from the FBIE during the period of its continuous existence. A necessary withdrawal under
a special circumstance shall be upon the consent of the investor whose investment amount exceeds 50% of the total amount, and the
relevant rights and interests shall be assigned to the new investor who satisfies the conditions as provided in Article 7 . The contract
and the articles of association of this enterprise shall be modified and shall be reported to the check and approving authority for
approval.

The transference of the other investors’ subscribed amount of capital or invested amount of capital shall be done in compliance with
the contract of the FBIE and the assignee shall meet the requirements as provided in Article 6 . All investors shall make relevant
modifications in the contract and the articles of association of the FBIE and report to the examination and approval organ for archival
purposes.

(4)

After an FBIE has been established, the investment application of new investors shall be in conformity with the present Provisions
and the stipulations in the contract, and shall be consented by the indispensable investors. Relevant modifications shall be made
in the contract and the articles of association of the FBIE and shall be reported to the examination and approval organ for archival
purposes.

(5)

Among the incomes of an FBIE arising from selling or disposing of the interests of its invested enterprise by other means, the part
equivalent to its original amount of investment may be directly allocated to all the investors. Such allocation constitutes a reduction
of the invested amount of the investors. An FBIE shall stipulate concrete methods of allocation in its contract, and at least 30
days before it makes such allocation, it shall submit an archival statement on the request of reducing the relevant invested amount
of the investors. In the said statement, it shall prove that the amount of the investments to be made by the investors and the other
capital it has at that time is at least in conformity with the investment obligations that the FBIE shall undertake at that time.
However, such allocation shall not be a plea to the litigation resulted from its violation of any of the investment obligations.

Article 14

When a non-legal-person organization files an application to the registration authority for modifying its registration, the archival
evidential documents issued by the above-mentioned examination and approval organ may replace relevant documents for examination
and approval.

Article 15

Having made investments according to the proceedings of business-starting investments and upon relevant capital verification report,
the investors of the FBIE shall file an application to the original registration organ for handling the archival procedures for their
investments. The registration organ shall fill up the number of its actual amount of capital behind the item of “Capital Amount”
on its Business License.

Where an FBIE makes no investment or fails to make the total investment, it shall be subject to penalties imposed by the registration
organ in accordance with the existing regulations.

Article 16

The investors of an FBIE shall make investments and relevant modifications in accordance with the existing regulations.

Chapter IV Institutional Structure

Article 17

An FBIE in the form of non-legal-person organization shall establish a joint management committee. An FBIE in the form of company
shall establish a board of directors. The investors shall stipulate on how to organize the joint management committee or the board
of directors in the contract and in the articles of association of the FBIE. The joint management committee and the board of directors
shall manage the enterprise on behalf of its investors.

Article 18

The subordinate administrative departments of the joint management committee and the board of directors shall, in accordance with
the power as specified in the contract and the articles of association of the FBIE, take charge of the routine managerial work and
execute the investment decisions made by the joint management committee and the board of directors.

Article 19

The person-in-charge of an administrative department shall satisfy the following conditions:

(1)

shall have full capacity for civil conduct;

(2)

shall have no record of criminal offence;

(3)

shall have no record of bad operations;

(4)

shall be experienced in business-starting investments and have no record of illegal practices.

(5)

shall meet the other requirements of the examination and approval organ.

Article 20

The administrative departments shall regularly report the following to the joint management committee and the board of directors:

(1)

significant investments under authorization;

(2)

metaphase & annual performance reports and financial statements;

(3)

other matters as provided in laws and regulations;

(4)

relevant matters as stipulated in the contract and in the articles of association of the FBIE.

Article 21

The joint management committee and the board of directors may grant the power of routine administration to a business-investment management
enterprise or another FBIE rather than establish administrative departments. The business-investment management enterprise may be
a domestically-funded business-starting investment enterprise or a foreign-funded one or an overseas enterprise. In this case, the
business-starting investment enterprise and the business-starting investment management enterprise shall conclude a managerial contract,
stipulating respective rights and interests. Such a contract shall not come into effect until it has been agreed by all the investors
and has been approved by the examination and approval organ.

Article 22

The investors of an FBIE may, by reference to the international practices, stipulate interior system for income allocations and incentive
mechanism in the business-starting investment contract.

Chapter V Business-Starting Investment Management Enterprise

Article 23

An entrusted business-starting investment management enterprise shall meet the following conditions:

(1)

To accept the entrustment of the FBIEs and to manage the investments made by them shall be its main business;

(2)

It shall have at least 3 professional managerial persons who have at least three years of practical experience in business-starting
investment;

(3)

Its registered capital or its total investments shall not be less than 1, 000, 000 yuan or equivalent foreign exchange;

(4)

It shall have a perfect interior control system.

Article 24

A business-starting investment management enterprise is allowed to take the form of the corporate organization or the partnership
organization.

Article 25

A business-starting investment management enterprise may be entrusted to manage different FBIEs.

Article 26

A business-starting investment management enterprise shall report the matters as listed in Article 20 to the joint management committee
and the board of directors of the entrusting party.

Article 27

The establishment of a foreign-funded business-starting investment management enterprise shall be in conformity with the conditions
as provided in Article 23 and shall be reported to the examination and approval organ for approval via the administrative departments
of foreign trade and economic cooperation at the provincial level where the company to be established is located. The examination
and approval organ shall make a written decision on whether to approve or not within 45 days as of the acceptance of the complete
set of the above-mentioned documents. It shall issue a Certificate of Approval for Foreign-invested Enterprises to the approved enterprises,
which shall file an application to the registration organ by holding the Certificate within a month as of their acceptance of the
Certificate.

Article 28

The following documents shall be submitted to the examination and approval organ in applying for the establishment of a foreign-invested
business-starting investment management company:

(1)

establishment application;

(2)

contract and articles of association of foreign-funded business-starting investment management company;

(3)

the investors’ registration certificate (photocopy) and the certificate of the legal representative (photocopy);

(4)

relevant documents required by the examination and approval organ;

Article 29

A foreign-invested business-starting investment management enterprise shall give a clear indication of “INVESTMENT MANAGEMENT” in
its name. Except for the foreign-invested business-starting investment management enterprises any other foreign-funded enterprises
shall not do so.

Article 30

An overseas business-starting investment management enterprise, which has acquired the approval of engaging in business-starting investment
management under the authorization of FBIEs, shall file an application to the registration organ to handle the business registration
procedures within 30 days as of the approval day of the management contract.

An applicant shall submit the following documents to the business registration organ and shall be responsible for their authenticity
and effectiveness:

(1)

an application for registration signed by the chairman of the board of directors of the overseas business-starting investment management
enterprise, or by a competent person;

(2)

a management contract and the approval documents of the examination and approval organ;

(3)

articles of association or partnership agreement of the overseas business-starting investment management enterprise;

(4)

the overseas business-starting investment management enterprise’ legal license to do business;

(5)

the credit certification of the overseas business-starting investment management enterprise;

(6)

the power of attorney, resume and the certification of the identification of the person-in-charge of the Chinese project appointed
by the overseas business-starting investment management enterprise;

(7)

the certification of its business offices in China; All of the aforesaid documents should be written in Chinese, those written in
foreign languages other than Chinese shall be accompanied by good Chinese translations

Chapter VI Business Management

Article 31

An FBIE may engage in the following businesses:

(1)

It may make equity investments with all of its own capital through establishing new enterprises, or investing into an established
enterprise, or accepting the stock equities transferred by the investors of an established enterprise, or through other means as
permitted in the laws and regulations of the state;

(2)

It may offer business-starting investment consultancy services;

(3)

It may offer management consultancy to the invested enterprises;

(4)

It may engage in other businesses as approved by the examination and approval organ. The capital of an FBIE may be largely used to
make equity investments into its invested enterprise.

Article 32

A business-starting enterprise shall not engage in the following activities:

(1)

It shall not make investments into the areas in which foreign investments are prohibited by the state;

(2)

It shall not make direct or indirect investments into the listed securities and bonds of an enterprise, but after the invested enterprise
is listed, the shares held by the FBIE shall be an exception.

(3)

It shall not make direct or indirect investments into real property not for its own use;

(4)

It shall not make investments by way of loans;

(5)

It shall not make investments by embezzling the capital not in its ownership;

(6)

It shall not provide a loan or guaranty to others, but the bonds with a term of more than 1 year issued by its invested enterprise
and the investments in the nature of bonds that may be converted into equity investments to the invested enterprise shall be excluded
(this paragraph doesn’t concern whether the invested enterprise is enpost_titled to issue such bonds or not);

(7)

It shall not engage in other activities as prohibited in the law and regulations and the contract of the FBIE.

Article 33

The investors shall stipulate a term for foreign investments in the contract of the FBIE.

Article 34

The incomes of an FBIE shall be generated largely from selling the stock equities it holds in the invested enterprise or from disposing
of the stock equities by other means. When an FBIE sell the stock equities it holds in the invested enterprise or dispose of the
stock equities by other means, it may, in accordance with the law, choose one of the following available methods of withdrawing:

(1)

It may transfer part of or all of the stock equities it holds to other investors;

(2)

It may sign an agreement of stock equity counter-purchase with the invested enterprise, which may counter-purchase the stock equities
held by the business-starting investment enterprise under certain circumstances;

(3)

Where the invested enterprise satisfies the conditions of listing as provided by laws and administrative regulations, it may apply
for listing in the securities markets of home and abroad. In accordance with the law, the FBIE may transfer the shares it holds in
the invested enterprise through the securities markets;

(4)

The other methods that are allowed by the laws and administrative regulations of China. The concrete regulatory measures concerning
the invested enterprise’ counter-purchase of the stock equities held by the FBIE shall be separately formulated by the examination
organ jointly with the registration organ.

Article 35

An FBIE shall make tax declaration in accordance with the tax laws of the state. As to a non-legal-person organization, in accordance
with the law, it may request all the investing parties to file returns for enterprise income taxes on their own, or file an application
by itself, after the application has been approved, it shall, in accordance with the law, calculate and pay the enterprise income
tax in a consolidated way.

The concrete regulatory measures concerning the levy of enterprise income tax upon the non-legal-person FBIEs shall be promulgated
separately by the State Administration of Taxation.

Article 36

Where the profit or other income obtained by a foreign investor from an FBIE is to be remitted abroad, it shall be paid from the foreign
currency account of the FBIE, or shall be remitted through an entrusted bank with the foreign currencies purchased from the bank.
Such payment or remittance shall be made on the basis of the allocation decision made by the joint management committee or the board
of directors, the audit report issued by an accountant office, the certification of inflow of foreign investments and the report
on the verification of capital, the certification of tax payment and the tax return (where an enterprise enjoys tax concession, it
shall present the evidential documents of tax concession issued by the tax authorities).

In accordance with the law, a foreign investor may request to purchase foreign currencies to remit the investments withdrawn from
the FBIE. As to an FBIE in the form of company, the opening and access of foreign currency account, changes of capital and other
matters involving the incomes and expenses of foreign currencies shall be handled pursuant to the existing regulations concerning
the administration of foreign exchange. But relevant regulations on the non-legal-person FBIEs shall be formulated separately by
the State Administration of Foreign Exchange.

Article 37

The investors shall stipulate the business term of the FBIE i

CIRCULAR ON INVESTIGATING ADOPTION OF THE ENTERPRISE ACCOUNTING SYSTEM BY ENTERPRISES WITH FOREIGN INVESTMENT

The Ministry of Finance

Circular on Investigating Adoption of the Enterprise Accounting System by Enterprises with Foreign Investment

CaiBanKuai [2003] No. 8

March 6, 2003

Financial Departments (Bureaus) of provinces, autonomous regions, municipalities directly under the Central Government and municipalities
separately listed on the state plan:

Enterprises with Foreign Investment have started adoption the Enterprise Accounting System as of January 11, 2002 and in order to
further understand the implementation of the Enterprise Accounting System by enterprises with foreign investment, please arrange
for the local certified public accountants firms engaged in auditing enterprises with foreign investment to fill in the attached
Questionnaires (Attachment 1). The certified public accountants firms shall provide opinions and materials on the following issues
according to the actual circumstances:

For enterprises with foreign investment that have adopted the Enterprise Accounting System, what problems exist in account reconciliation
and actual execution? What are the main reasons?

II.

For enterprises with foreign investment that have not adopted the Enterprise Accounting System, what are the main reasons for not
adopting the Enterprise Accounting System? What are the accounting standards that have been adopted by the certified public accountants
firms in auditing the annual reports of the enterprises with foreign investment? What type of auditing opinions has the certified
public accountants firms issued? In case the certified public accountants have issued non-standard auditing opinion, what are the
opinions from the relevant departments of the administration for industry and commerce and taxation?

III.

What are the opinions and suggestions of the certified public accountants firms on the implementation of the Enterprise Accounting
System by the enterprises with foreign investment? What are the opinions and suggestions of the enterprise with foreign investment
on execution of the Enterprise Accounting System?

The local accounting administration of financial department are required to summarize the questionnaires and the relevant materials
filled in by the certified public accountants firms, prepare a written report, which should be sent to the Accounting Department
of the Ministry of Finance together with the materials (original or copy) provided by the certified public accountants firms by May
30, 2003.

The Ministry of Finance
2003-03-06

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON THE TRANSITIONAL POLICY AND MEASURES AFTER CANCELING ADMINISTRATIVE EXAMINATION AND APPROVAL OF FOREIGN EXCHANGE ADMINISTRATION OF SOME CAPITAL PROJECTS

The State Administration of Foreign Exchange

Circular of the State Administration of Foreign Exchange on the Transitional Policy and Measures after Canceling Administrative Examination
and Approval of Foreign Exchange Administration of Some Capital Projects

HuiFa [2003] No.50

April 3, 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:

Decisions of the State Council on Canceling the First Batch of Administration Examination and Approval Projects (GuoFa [2002] No.24)
and the Decisions of the State Council on Canceling the Second Batch of Administration Examination and Approval Projects and Altering
the Administrative Methods for Some Administration Examination and Approval Projects (GuoFa [2003] No.5) have been promulgated. In
order to ensure the smooth linking of the administration of capital projects and avoid disjoint after cancellation of relevant administration
examination and approval projects, relevant policy and measures for the transitional period are hereby made as follows:

Cancellation of examinations and approvals on the financing conditions of long-and-medium-term foreign debts of domestic Chinese-capital
organizations, on the financial conditions of financing and leasing of domestic Chinese-capital organizations, on the time selection
and financing conditions for issuing debts abroad, and on the financial conditions for project financing.

After cancellation of relevant examinations and approvals, in borrowing medium-long term foreign debts, issuing medium-long term bonds
denominated in foreign exchange, conducting aircraft financial leasing and project financing, Chinese-capital organizations shall
no longer be required to go through examination and approval formalities with administration of foreign exchange on terms of relevant
financing as they shall only be obliged to handle procedures on registration of foreign debts on a case by case basis after conclusion
of borrowing contracts.

During the course of the Chinese-capital organizations going through formalities of registration of foreign debts for above items
and during the course of enterprises with foreign investment going through formalities of registration of foreign debts for project
financing, capital raising and aircraft financial leasing, the branches and sub-branches of administration of foreign exchange shall
handle the registration in accordance with following procedures:

(I)

All branches and sub-branches of the administrations of foreign exchange shall verify borrowing qualifications of borrowers according
to operational procedures on borrowing qualifications concerning medium-long term international commercial loans, project financing,
aircraft financial leasing, issuance of bonds denominated in foreign exchange(see Attachment 1, Attachment 2, Attachment 3, Attachment
4). Qualification verifications for aircraft financial leasing, project financing and issuance of bonds denominated in foreign exchange
shall be conducted according to corresponding operational procedures for borrowing qualifications while checks on other forms of
medium-long term overseas borrowing (except for those made by enterprises with foreign investment) shall be conducted according to
operational procedures for borrowing qualifications concerning medium-long term international commercial loans.

(II)

Where the borrower meets the above verification requirements on borrowing qualifications, the branches and sub-branches of administration
of foreign exchange shall handle procedures of registration of conclusion of foreign debt contracts and of payment withdrawal, establishment
of special foreign debt account and settlement of foreign exchange and repayment of principals and interests and shall not require
the debtor to present prior approval documents issued by administrations of foreign exchanges.

(III)

Where the borrower does not meet the verification requirements on borrowing qualifications or where registration procedures does not
conform with requirements or where relevant articles in overseas borrowing arrangements do not conform with prevailing provisions
on administration of foreign exchange (such as account arrangement, guarantee arrangement, value preserving clause, etc.), the borrower
shall obtain written approval from the State Administration of Foreign Exchange in advance. The branches and sub-branches of administrations
of foreign exchange shall not handle registration procedures for the borrower without the written approval from the State Administration
of Foreign Exchange.

(IV)

Debtors shall handle withdrawal of payment after they have obtained certificates of registration of foreign debt issued by administration
of foreign exchange.

(V)

The branches and sub-branches shall handle registration of foreign debts of medium-long term overseas borrowings by Chinese-capital
organizations within the following time limits from the date on which all materials required by administration of foreign exchange
are presented by enterprises: 1. The branches and sub-branches shall grant the registration within 10 working days if no report to
and approval from the State Administration of Foreign Exchange is required. 2. The branches and sub-branches shall grant the registration
within 30 working days if no report to and approval from The State Administration of Foreign Exchange is required (which shall include
10 working days for The State Administration of Foreign Exchange to handle procedures).

II.

Cancellation of examination and approval on large amount financing by overseas branches of domestic Chinese-capital financial institutions

After cancellation of examination and approval on large amount financing by overseas branches of domestic Chinese-capital financial
institutions, the institutions shall not be required to handle prior examination and approval procedures with administration of foreign
exchange provided that they shall report the financing to administration of foreign exchange for the record in advance, which means
where a overseas branch of a domestic Chinese-capital financial institution raises commercial loans in a sum of 50,000,000 United
States dollars (inclusive) equivalent in one time, it shall report to the State Administration of Foreign Exchange for the record
10 working days in advance by its head office.

III.

Cancellation of examination and approval on establishment, alteration and cancellation of B share’s margin account opened with domestic
foreign-capital banks by securities companies

After cancellation of the examination and approval, the ways of management of administration of foreign exchange on establishment,
alteration and cancellation of B share’s settlement account (now referred to as the “clients transaction settlement account”) by
securities companies shall be as follows:

(I)

A securities company authorized to conduct foreign exchange business shall open domestic investor’s B share’s settlement account and
foreign investor’s B share’s settlement account separately with banks at its locality by presenting valid License for Conducting
Foreign Exchange Business in Securities Transactions and evidencing documents granting authorizations to conduct relevant businesses
issued by the CSRC etc.

A business department of a securities company authorized to conduct foreign exchange business shall open domestic investor’s B share’s
settlement account and foreign investor’s B share’s settlement account with banks at its locality by presenting power of attorney
of its head office, duplicate of License for Conducting Foreign Exchange Business in Securities Transactions of the securities company,
duplicates of evidencing documents granting authorization to conduct relevant businesses issued by the CSRC etc.

(II)

Within 3 days of establishment, alteration or cancellation of domestic investors’ B share’s settlement account and foreign investors’
B share’s settlement account, the securities companies or their business departments shall report to administration of foreign exchange
for the record.

(III)

The scope of receipt of a domestic investor’s B share’s settlement account shall be the foreign exchange funds transferred from its
domestic foreign exchange non-cash savings account or cash savings account and foreign exchange proceeds from foreign exchange securities
transactions. Its scope of payment shall be the foreign exchange needed in its foreign exchange securities transactions and transfers
therefrom to foreign exchange cash accounts opened with domestic commercial banks. No payment shall be remitted abroad.

The scope of receipt of a foreign investor’s B share’s settlement account shall be foreign exchange funds remitted from aboard by
the foreign investor or transferred from its domestic foreign exchange non-cash savings account and foreign exchange proceeds from
its foreign exchange securities transactions. Its scope of payment shall be the foreign exchange needed in its foreign exchange securities
transactions, transfers therefrom to foreign exchange non-cash accounts opened with domestic commercial banks and foreign exchange
funds to be remitted abroad.

IV.

Cancellation of examination on foreign exchange risks in making investment abroad by domestic institutions

Administration of foreign exchange shall no longer conduct examination on foreign exchange risks in making investment abroad and shall
simultaneously simplify examination procedures on source of foreign exchange capital for making investment abroad. For detailed rules
of operation please refer to the Circular of the State Administration of Foreign Exchange on Simplifying the Examination of Foreign
Exchange Capital Source of Investment Abroad (HuiFa [2003] No.43)

All Branches of the administrations of foreign exchange shall promptly transmit this Circular to designated banks of foreign exchange
at their locality and shall handle relevant business strictly according to requirements of the Circular.

This is hereby the notification.

Attachments:

1. Examination on the Qualifications of Chinese-capital Organizations for Borrowing Medium-long Term International Commercial Loans
(omitted)

2. Examination on the Qualifications for Borrowing under Project Financing (omitted)

3. Examination on the Qualifications for Borrowing under Aircraft Financial Leasing (omitted)

4. Examination on the Qualifications for Borrowing under Issuing Bonds Overseas (omitted)

The State Administration of Foreign Exchange
2003-04-03

MEASURES FOR THE QUARANTINE AND ADMINISTRATION OF HEREDITARY SUBSTANCE OF ENTRY ANIMALS

The State Administration of Quality Supervision, Inspection and Quarantine

Decree of the State Administration of Quality Supervision, Inspection and Quarantine

No. 47

The Measures for the Quarantine and Administration of Hereditary Substance of Entry Animals, which were examined and adopted at the
administration affairs meeting of the State Administration of Quality Supervision, Inspection and Quarantine on April 3, 2003, are
hereby promulgated, and shall come into force on July 1, 2003.

Director General Li Changjiang

May 14, 2003

Measures for the Quarantine and Administration of Hereditary Substance of Entry Animals

Chapter I General Provisions

Article 1

The present Measures are formulated in accordance with the Law of the Peoples Republic of China on Quarantine of Entry and Exit
Animals and Plants and the Regulation for the Implementation thereof as well as other laws and regulations with a view to regulating
the quarantine, supervision and administration of hereditary substance of entry animals, and protecting the production safety of
the animal husbandry in China.

Article 2

The present Measures shall be applicable to the quarantine, supervision and administration of hereditary substances of entry animals.

Article 3

Hereditary substances of animals mentioned in the present Measures means the semen, embryos and egg cells of mammals.

Article 4

The State Administration of Quality Supervision, Inspection and Quarantine (hereinafter referred to as the SAQSIQ) shall be uniformly
responsible for the quarantine, supervision and administration of hereditary substance of entry animals nationwide.

The entry and exit inspection and quarantine institutions set up by the SAQSIQ in all places (hereinafter referred to as the inspection
and quarantine institutions) shall be responsible for the quarantine, supervision and administration of hereditary substance of entry
animals within their respective jurisdictions.

Article 5

The SAQSIQ shall apply risk analysis administration to the hereditary substance of entry animals. On the basis of the result from
risk analysis, the SAQSIQ may conclude a bilateral quarantine agreement (including agreement, protocol, or memorandum, etc.) with
the relevant competent institution of the government of the country or region from which the hereditary substance of animals is to
be exported to China.

Chapter II Quarantine Examination and Approval

Article 6

Whoever intends to import hereditary substance of animals must go through the formalities of quarantine approval in advance, obtain
the Permit of the People Republic of China on Quarantine of Entry Animals and Plants (hereinafter referred to as the Quarantine Permit,
and stipulate in the trade contract or the relevant agreement the quarantine requirements of China.

Article 7

Whoever intends to apply for the examination and approval of quarantine of hereditary substance of animals shall submit the following
materials to the local inspection and quarantine administration directly under the SAQSIQ:

(1)

The Application Form for the Permit of the People Republic of China on Quarantine of Entry Animals and Plants;

(2)

For hereditary substance of animals imported by agency, a photocopy of the contract or agreement with the consignor for import by
agency shall be provided.

Article 8

The inspection and quarantine administration directly under the SAQSIQ shall finish the preliminary examination within the time prescribed
by the SAQSIQ. If the hereditary substance of animals is preliminarily examined as qualified, it shall be submitted to the SAQSIQ
for verification, and the SAQSIQ shall finish the verification within the prescribed time. If it is verified as qualified, the Quarantine
Permit shall be issued; if it is verified as unqualified, the Notice on Failure of the Application to be approved for the Permit
of the People Republic of China on Quarantine of Entry Animals and Plants shall be issued.

Chapter III Entry Quarantine

Article 9

Before the hereditary substance of animals is imported, the SAQSIQ may, on the basis of the needs in quarantine, send quarantine officers
to go to the exporting country or region to carry out pre-inspection of the place of origin of the hereditary substance of animals.

Article 10

The SAQSIQ shall apply quarantine registration to the foreign producers which export hereditary substance of animals to China, and
shall send quarantine officers either regularly or irregularly to appraise the registered foreign producers.

Article 11

Imported hereditary substances of animals shall enter the territory via the port designated by the Quarantine Permit.

Article 12

The consignor of hereditary substance of animals or his agent shall bring the Quarantine Permit, the trade contract or agreement,
the letter of credit, the invoices and other effective documents to report to the inspection and quarantine institution at the port
of entry for inspection before the hereditary substance of animals enters the territory; and shall, when the hereditary substance
of animals enters the territory, submit to the inspection and quarantine institution at the port of entry the original of the quarantine
certificate issued by the governmental quarantine institution of the exporting country or region.

Article 13

If, with respect to some certain hereditary substance of entry animals, there is no effective quarantine certificate issued by the
governmental quarantine institution of the exporting country or region, or the formalities for quarantine approval have not been
gone through, the inspection and quarantine institution at the port of entry may, in light of the specific situation, return or destroy
the said substance.

Article 14

When the imported hereditary substance of animals is carried to the port, the quarantine officers shall carry out the on-the-spot
quarantine:

(1)

Inspecting whether the quarantine certificate conforms to the Quarantine Permit and the requirements in the bilateral quarantine agreement
between China and the exporting country or region;

(2)

Checking whether the goods and the certificate are in conformity with each other;

(3)

Inspecting the packing and preservation of the goods.

Article 15

If the hereditary substance of animals is quarantined on the spot as qualified, the inspection and quarantine institution at the port
of entry shall issue the List for Customs Release of Entry Goods, and transfer the said substance to the place designated by the
Quarantine Permit carry out quarantine.

Article 16

If the hereditary substance of animals needs to be taken away from the port of entry, the consignor or his agent shall declare to
the inspection and quarantine institution at the destination, and provide the photocopies of the documents prescribed in Article
12 of the present Measures and the List for Customs Release of Entry Goods?issued by the inspection and quarantine institution
at the port of entry.

Article 17

The inspection and quarantine institution shall make quarantine as required by the Quarantine Permit. The hereditary substance of
animals quarantined as qualified shall be under the lawful quarantine supervision and administration of the inspection and quarantine
institution; while the one quarantined as unqualified shall be returned or destroyed under the supervision of the inspection and
quarantine institution.

Chapter IV Supervision of Quarantine

Article 18

The inspection and quarantine institution shall conduct quarantine supervision and administration on the processing, deposition and
use of the hereditary substance of entry animals (hereinafter uniformly referred to as use); and shall record the first generation
of descendents of the hereditary substance of animals.

Article 19

The entity using the hereditary substance of entry animals shall go to the inspection and quarantine administration directly under
the SAQSIQ at its locality to make the record

Article 20

The using entity shall fill out the Form on Record of the Entity Using Hereditary Substance of Entry Animals (Attachment 1), and provide
the following statement documents:

(1)

A photocopy of the document on proof of the entity status as a legal person;

(2)

Document stating that it has professionals familiar with the preservation, transport and use of the hereditary substance of animals;

(3)

Document stating that it has special depositary of hereditary substance of entry animals and other necessary facilities;

(4)

The relevant systems on administering the use of hereditary substance of entry animals.

Article 21

The inspection and quarantine administration directly under the SAQSIQ shall report to the SAQSIQ the using entities that have made
the record.

Article 22

The using entity shall fill out the File on Quarantine and Supervision of Hereditary Substance of Entry Animals (Attachment 2), and
accept the supervision of the inspection and quarantine institution; and shall, after the end of use of each batch of hereditary
substance of entry animals, submit the File on Quarantine and Supervision of Hereditary Substance of Entry Animals to the inspection
and quarantine institution for record.

Article 23

The inspection and quarantine institution may, when necessary, monitor the health of the descendents of the hereditary substance of
entry animals, and the relevant entities shall cooperate with the institution.

Chapter V Supplementary Provisions

Article 24

Whoever violates the present Measures shall be punished by the inspection and quarantine institution in accordance with the relevant
laws and regulations.

Article 25

The responsibility to interpret the present Measures shall remain with the SAQSIQ.

Article 26

The present Measures shall come into force on July 1, 2003.

htm/e03153.htmAttachment 1

Attachment 1:

Form on Filing of the Entity Using Hereditary Substance of Entry Animals

Applying unit
Address:
Legal representative		Legal person code
Tel:		Fax:	Email:
Nature of the unit	sp; State-owned enterprise titutional unit nt venture sp;Foreign-invested enterprise vate enterprise ers
According to the Measures for the Quarantine and Administration of Hereditary Substance of Entry Animals, our unit is here to apply to use hereditary substances of entry animals. Our unit will in strict accordance with the Law of Entry and Exit Quarantine of Animals and Plants and the Regulation for the Implementation thereof as well as other laws and regulations accept supervision and instruction of the inspection and quarantine institutions, thus performing duties as stipulated in Measures for the Quarantine and Administration of Hereditary Substance of Entry Animals. Applying unitseal Legal representative (signature) Date:
Review opinions of the inspection and quarantine institutions: Responsible personsignature Date:

Formulated under supervision of the Administration of the Peoples Republic of China on Inspection and Quarantine of Entry and Exit.

Attachment 2:

File on Quarantine and Supervision of Hereditary Substance of Entry Animals

Filled by:

Filling dateFrom to

Formulated under supervision of the Administration of the Peoples Republic of China on Inspection and Quarantine of Entry and Exit.

Basic Situation of Hereditary Substance of Entry Animals

Used by		Contact person and telephone
Address		Legal representative and telephone
License of inspection and quarantine	Variety of hereditary substance	Exporting country
Import quality	Entry date	Entry port
Hereditary substance logo/quality

Service Condition of Hereditary Substance of Entry Animals

Used by (individual)

Address

Legal representative

Legal person code
(ID card)

Contact telephone

Service Condition

Hereditary substance logo

Time of use

Receptor logo

Effect of use

Birth date of descendant

Descendant logo

Descendant gender

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE AND CHINA INSURANCE REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING THE ADMINISTRATION OF SALE AND PAYMENT OF FOREIGN EXCHANGE IN OVERSEAS REINSURANCE CEDING

The State Administration of Foreign Exchange, China Insurance Regulatory Commission

Circular of the State Administration of Foreign Exchange and China Insurance Regulatory Commission on the Relevant Issues Concerning
the Administration of Sale and Payment of Foreign Exchange in Overseas Reinsurance Ceding

HuiFa [2003] No.75

June 20, 2003

The branches and departments of foreign exchange administration of the State Administration of Foreign Exchange (SAFE) in the provinces,
autonomous regions, and municipalities directly under the Central Government, the branches in Shenzhen, Dalian, Qingdao, Xiamen,
and Ningbo; the designated foreign exchange banks; and the insurance companies:

In order to implement the Interim Provisions on the Foreign Exchange Administration of Insurance Services, to regulate the reinsurance
made in foreign exchange, and to effectively disperse insurance risks, the following circular is hereby made concerning the relevant
matters of the administration of sale and payment of foreign exchange in overseas reinsurance ceding:

The domestic Chinese-invested insurance companies, Sino-foreign equity joint insurance companies, and branches of foreign insurance
companies in China (hereinafter referred as domestic insurance companies) that engage in overseas reinsurance ceding upon ratification
by the SAFE may, pursuant to the relevant provisions of China Insurance Regulatory Commission (CIRC), undertake overseas reinsurance
ceding of domestic insurances, and go through the formalities for purchase and payment of foreign exchange under overseas reinsurance
ceding pursuant to the provisions hereof. Branches of domestic insurance companies may not go through the formalities for purchase
and payment of foreign exchange under overseas reinsurance ceding.

Where a domestic insurance company reinsured overseas any domestic insurance made in foreign exchange, that company shall, by taking
with it the valid proofs, such as reinsurance bill or reinsurance payment list, etc., make the reinsurance payments from its foreign
exchange operation account with a domestic commercial bank, and may not purchase any foreign exchange to make the payment.

Where a domestic insurance company reinsured overseas any insurance made in RMB, it may, by taking with it the valid proofs, such
as the reinsurance bill or reinsurance payment list, etc., make the reinsurance payment from its foreign exchange operation account
with a domestic commercial bank; either may it, pursuant to Articles 4 through 7 hereof, apply to SAFE, and purchase foreign exchange
to make the reinsurance payment with a designated foreign exchange bank on the strength of the ratification document of the SAFE.

Where a domestic insurance company makes overseas excess of loss ratio reinsurance of any of its insurance made in RMB, it may apply
for purchasing foreign exchange to make the reinsurance payment according to the actual business needs.

Where a domestic insurance company make overseas reinsurance through contract or temporarily of the enterprise property insurance,
freight insurance, ship insurance, aviation insurance, space insurance, oil insurance, energy insurance, construction and installment
project insurance, liability insurance, nuclear station insurance, or any other type of insurance ratified by the CIRC that are made
in RMB, that insurance company may apply to the SAFE for purchasing foreign exchange to make the reinsurance payment if either of
the following conditions is satisfied:

(1)

The maximum insurance liability for a single insurance contract exceeds RMB50m;

(2)

The accumulative RMB premium income for a single insurance type exceeds the sum of the capital and the accumulation fund of that company.

Where a domestic insurance company meets the conditions for purchasing foreign exchange under overseas reinsurance specified in Articles
4 and 5, that company shall file the application with SAFE on a quarterly basis by taking with it the relevant documents, such as
the application for purchase of foreign exchange, the relevant insurance contracts or insurance data statistics, the audited balance
sheet and profit statement of the company of the previous year, the copy of the License for Foreign Exchange Services, etc. A once-and-only
application shall be filed with the SAFE with respect to any reinsurance contract for which the payment is made by installments.
In the application for purchase of foreign exchange, the insurance company shall respectively specify the amount of foreign exchange
purchased for excess of loss ratio reinsurances and contracts, and for temporary reinsurances.

Where the application for purchase of foreign exchange under overseas reinsurance has been ratified by the SAFE, the domestic insurance
company shall, when paying for the overseas reinsurance to overseas, make the payment with the designated foreign exchange bank through
purchase of foreign exchange on the strength of the valid proofs, such as the ratification document of SAFE, and the reinsurance
bill or reinsurance payment list, etc.

A domestic insurance company shall fill out the “Quarterly Statements of Foreign Exchange Services of Insurance Company” in an accurate
and timely manner (see HuiFa [2003] No.27), and shall indicate in the “Remarks” the overseas reinsurance operations of the previous
quarter; in the case of payment by purchase of foreign exchange, the amount of foreign exchange purchased, the time of purchase and
the bank for purchase, etc., shall be specified.

This Circular shall enter into force as of July 1, 2003.

Upon receipt of this Circular, the branches shall transmit it as soon as possible to the insurance companies and designated foreign
exchange banks within their respective jurisdictions; and the Chinese-funded designated foreign exchange banks shall transmit it
as soon as possible to their respective branches and sub-branches. Please promptly report any problem encountered in the execution
to the SAFE and the CIRC.

The State Administration of Foreign Exchange, China Insurance Regulatory Commission
2003-06-20

PROVISIONS ON THE MANAGEMENT OF GREEN PASSAGEWAY SYSTEM FOR INSPECTION AND QUARANTINE OF EXPORT GOODS

The State Administration of Quality Supervision, Inspection and Quarantine

Decree of the State Administration of Quality Supervision, Inspection and Quarantine

No.50

Provisions on the Management of Green Passageway System for Inspection and Quarantine of Export Goods, which have been examined and
adopted at the executive meeting of the State Administration of Quality Supervision, Inspection and Quarantine on June 19th 2003,
are hereby promulgated and shall come into force since promulgation.

Director Li Changjiang

July 18, 2003

Provisions on the Management of Green Passageway System for Inspection and Quarantine of Export Goods

Chapter I General Provisions

Article 1

With a view to speeding up the customs clearance process, facilitating the customs release of export goods and promoting export, the
Provisions are formulated in accordance with the Law of the People’s Republic of China on Import and Export Commodity Inspection
and the implementation rules thereof.

Article 2

The term “green passageway system for inspection and quarantine” (hereinafter referred to as the green passageway system) in the Provisions
refers to the release management pattern of granting inspection and quarantine certificate at the production area with exemption
for inspections by the port inspection and quarantine authority for the qualified export goods of the production and operation enterprises
that have good credit rating, sound and stable product quality guarantee system and relatively large export scale, upon the examination
and approval by the State Administration of Quality Supervision, Inspection and Quarantine (hereinafter referred to as the SAQSIQ).
The principle of voluntary application by enterprises shall be adopted in the application of the green passageway system.

Article 3

The SAQSIQ shall take charge of supervision and administration of the nation-wide green passageway system for export goods and implement
verification and approval of the enterprises to be covered by the green passageway system. Local administrations of exit-entry inspection
and quarantine directly under the SAQSIQ (hereinafter referred to as the administrations of inspection and quarantine directly under
SAQSIQ) shall be in charge of the examination, supervision and administration of the enterprises to be covered by the green passageway
system within their respective jurisdictions. Local institutions in charge of exit-entry inspection and quarantine established by
the SAQSIQ (hereinafter referred to as the inspection and quarantine institutions) shall be responsible for acceptance of applications,
preliminary examination and regular administration of the enterprises to be covered by the green passageway system within their respective
jurisdictions.

Article 4

The SAQSIQ shall determine and adjust the scope of export goods to which the green passageway system are applied, in accordance with
the real situation of inspection and quarantine for export goods as well as the implementation outcome of the green passageway system.
The green passageway system shall not apply to the bulk goods or goods that are quality-unstable or liable to deterioration or require
replacement of the inspection and quarantine certificate at the port.

Chapter II Enterprise Qualification

Article 5

A enterprise applying for coverage of the green passageway system shall meet the following conditions:

(1)

having good reputation and sound credit rating, with the annual export volume exceeding USD5,000,000;

(2)

having implemented the ISO9000 quality management system and obtained the certificate of eligibility in assessment and examination
of the production enterprise quality system issued by the relevant organ;

(3)

having long-term stable quality for the export goods and have not been involved in quality-based compensation claim or dispute with
the import country within the recent two years;

(4)

having no improper inspection applications within a year and having no record of administrative sanctions by the inspection and quarantine
institutions within two years;

(5)

belonging to the first-grade or second-grade enterprises if classified administration of production enterprises is applied pursuant
to the relevant provisions of SAQSIQ

(6)

having obtained registration for marks of production area where it is required by any law, regulation, or bilateral agreement for
the use of marks for the production area;

(7)

other conditions stipulated by the SAQSIQ.

Article 6

The applicant enterprise should make the following commitment:

(1)

complying with the laws and regulations on exit-entry inspection and quarantine and the Provisions on the Application for Exit-Entry
Inspection and Quarantine;

(2)

adopting e-application;

(3)

ensuring conformity between the export goods and their certificates, the eligibility of batch numbers and complete markskeeping
the sealing intact if sealing is adopted;

(4)

conducting no such illegal activities as replacing or stealthily substituting goods when the export goods are carried to the port
after having obtained the inspection and quarantine certificate from the inspection and quarantine institutions;

(5)

voluntarily accepting the supervision and administration by the inspection and quarantine institutions.

Article 7

Enterprises applying for the adoption of the green passageway system shall ask for and fill in the Application Form for Adoption of
the Green Passageway System (see attachment) and at the same time, submit the Certificate of ISO9000 Quality Management System Accreditation
(photocopy) as well as other relevant documents.

Chapter III Examination and Approval

Article 8

The inspection and quarantine institutions in charge of application acceptance shall complete the preliminary examination in accordance
with the provisions as follows:

(1)

examining the application documents;

(2)

verifying and investigating the facts about the enterprise’s quality guarantee system and the quality of its export goods and whether
it has improperly applied for inspection or other acts in violation of the provisions on inspection and quarantineand

(3)

proposing the opinion on preliminary examination and submitting it to the superior administration of inspection and quarantine directly
under SAQSIQ.

Article 9

The administration of inspection and quarantine directly under SAQSIQ shall review the preliminary examination opinion and report
the list of qualified enterprises and the relevant documents to the SAQSIQ.

Article 10

The SAQSIQ shall give approval to the enterprises meeting the relevant requirements of the green passageway system. The approved list
of enterprises to be covered by the green passageway system shall be made public by the SAQSIQ.

Chapter IV Inspection and Quarantine at Production Area

Article 11

For those in conformity with the following provisions, the inspection and quarantine institutions at the production area shall conduct
the acceptance of inspection applications by referring to the green passageway system.

(1)

For self-operating export enterprises covered by the green passageway system, the applicant entity for inspection, the consigner and
the production enterprise shall be the same

(2)

For operating enterprises covered by the green passageway system, the applicant entity for inspection and the consigner shall be the
same, and the export goods operated shall be produced by the production enterprises covered by the green passageway system.

Article 12

For the export enterprises approved to adopt the green passageway system, the inspection and quarantine institutions where the enterprises
are located shall confirm their qualification for coverage of the green passageway system in the sub-system for inspection application
of the CIQ2000 System.

Article 13

The workers of the inspection and quarantine institutions shall conduct examination in strict compliance with the requirements of
the green passageway system when accepting the e-inspection applications of the enterprises covered by the green passageway system.
For those failing to meet the relevant requirements, reasons should be given in the return receipt for inspection application

Article 14

If any enterprise failing to meet the requirements for the green passageway system coverage are found during the inspection process,
the personnel of the inspection and quarantine institutions shall write the words “failing to meet the requirements for green passageway
system coverage” in the column of inspection and quarantine opinion of the Flow Diagram for Inspection and Quarantine or the relevant
inspection and quarantine records.

Article 15

The inspection and quarantine institutions at the production area shall strengthen the examination of the inspection application documents
and the inspection & quarantine documents for export goods covered by the green passageway system, and e-transmit the qualified documents
to the port inspection and quarantine institutions to form the customs clearance data. During the transmission of documents, the
specified code of the port of customs declaration should be input and the Certificate of Document Transmission issued.

Chapter V Port Examination and Release

Article 16

The port inspection and quarantine institutions should establish service windows for enterprises adopting the green passageway system.

Article 17

For export goods of the enterprises covered by the green passageway system, the port inspection and quarantine institutions shall
enter the subsystem for inspection application of the CIQ2000 System and launch the green passageway function.

Article 18

For enterprises adopting the green passageway system, the port inspection and quarantine institutions shall conduct stringent examination
over the information concerning the green passageway system in the e-document transmission date. If no problems are found in the
examination, the Notice of Customs Clearance For Outward Goods will be issued directly without inspections.

If the enterprises covered by the green passageway system alter the declaration contents at the port, the port inspection and quarantine
institutions shall not refer to the green passageway system for release.

Chapter VI Supervision and Administration

Article 19

The inspection and quarantine institutions at the production area shall establish the management files for, and strengthen the management
over enterprises covered by the green passageway system.

Article 20

Upon discovering non-conformance to the self-discipline commitment of the enterprise covered by the green passageway system or other
acts in violation of the provisions, the port inspection and quarantine institution shall make a report in good time to the administration
of inspection and quarantine directly under SAQSIQ where the port is located.

After verification, the administration of inspection and quarantine directly under SAQSIQ where the port is located shall notify the
administration of inspection and quarantine directly under SAQSIQ at the production area. The latter shall suspend the adoption the
green passageway system for the enterprise and submit to the SAQSIQ the opinion on canceling the coverage of the green passageway
system for the enterprise. After confirmation, the SAQSIQ shall disqualify the enterprise from adopting the green passageway system.

Article 21

The Inspection and quarantine institutions at the port and the production area shall make statistical reports on the implementation
of the green passageway system on a regular basis and establish the mutual notification system.

Chapter VII Supplementary Provisions

Article 22

The right to interpret the Provisions shall remain with the State Administration of Quality supervision, Inspection and Quarantine.

Article 23

The Provisions shall come into force as of the date of its promulgation.

The State Administration of Quality Supervision, Inspection and Quarantine
2003-07-18

Error

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ADJUSTING THE EXPORT REBATE RATES

Ministry of Finance, State Administration of Taxation

Circular of the Ministry of Finance and the State Administration of Taxation on Adjusting the Export Rebate Rates

CaiShui [2003] No. 222

October 13, 2003

The departments (bureaus) of finance and the bureaus of state taxes of all provinces, autonomous regions, municipalities directly
under the Central Government and cities directly under State planning, the bureau of finance of Sinkiang Production and Construction
Army Corps:

Upon approval of the State Council, structural adjustments shall be made on the current export rebate rates for value-added tax, and
the notice on the relevant issues is given as follows:

The current export rebate rates for the following goods shall remain unchanged:

(1)

The agricultural products whose current export rebate rates range between 5% and 13%;

(2)

The industrial products processed from agricultural products whose current export rebate rate is 13% (except for those prescribed
in Articles 3 and 4 of the present Circular);

(3)

The goods whose VAT rate as prescribed in the current taxation policies is 17%, and tax refund rate is 13% (except for those prescribed
in Articles 3 and 4 of the present Circular);

(4)

Ships, automobiles and their key components and parts thereof, aircrafts and spacecrafts, digital control machines, processing centers,
printed circuits, railway engines, etc. whose current export rebate rate is 17% (refer to Annex 1 for the HS codes and commodity
names);

The export rebate rate for wheat flour, maize (corn) flour, severed ducks, severed rabbits and other goods as listed in Annex 2 shall
be raised from 5% to 13%.

The policies on export tax refund of crude oil, wood, paper pulp, fine goat hair, eel fries, rare earth metal minerals, phosphorus
ores, natural graphite and other goods listed in Annex 3 shall be cancelled. As to the goods subject to the consumption tax, the
policies on export rebate or exemption of consumption tax shall be cancelled accordingly.

The export rebate rates for the following goods shall be lowered:

(1)

The export rebate rate for gasoline (HS code: 27101110) and unwrought zinc (HS code: 7901) shall be lowered to 11%;

(2)

The export rebate rate for unwrought aluminum, yellow phosphorus and other phosphorus, unwrought nickel and iron alloy, molybdenum
ores and concentrates, and other goods listed in Annex 4 shall be lowered to 8%;

(3)

The export rebate rate for coke and semi-coke, coking coal, fused magnesia, dead-burned (sintered) magnesia, feldspar, talc, steatite
and other goods listed in Annex 5 shall be lowered to 5%;

(4)

Except for the goods prescribed in Articles 1 through Article 3 and Paragraphs (1) through (3) of the present Article, the export
rebate rate of any goods, whose current export rebate rate is 17% or 15, shall be lowered to 13%. The export rebate rate of all the
goods whose current tax rate and tax refund rate is 13% shall be lowered to 11%.

With regard to the export contracts signed by export enterprises with foreign parties before October 15th, 2003 on whole sets of equipment
(whose export value is 2 million USD or more) or large mechanical and electronic products (whose unit price is 1 million USD or more)
falling within the scope of Paragraph (4) of Article 4 of the present Circular whose prices are unchangeable, where the export date
stipulated in the contract is later than July 1, 2004, such contracts must be registered and put into record before November 15th
, 2003 with the competent tax refund organs upon the strength of their original export contracts and counterparts. The provincial
bureau of state taxes shall, after examination and verification, submit the qualified export contracts and pertinent documents to
the State Administration of Taxation by November 30th, 2003. After joint examination and approval of the State Administration of
Taxation and the Ministry of Finance, the local bureau of state taxes shall handle the tax refund at the pre-adjusted tax rebate
rate. With respect to any whole set of equipment or large mechanical and electronic product whose registration and record fail to
be made before November 15th, 2003, the export rebate shall be handled at the adjusted tax refund rate.

The administrations of finance and taxation in all regions shall earnestly study and grasp the present Circular, and take effective
measures to seriously implement the relevant policies in the present Circular, handle tax refund in jure, and seriously defend the
benefits of the State and the enterprises. They shall, in the meanwhile, closely cooperate with the competent departments of commerce,
customs, foreign exchange, and the enterprises to further do well in export.

As of July 1st, 2004, any enterprise that exports goods by any means shall be subject to the export rebate rates prescribed in the
present Circular. The date of specific implementation shall be based on the departure date as indicated by the customs on the customs
declaration list for the exported goods.

htm/e03246.htmAnnex 1

Annex 1:

Catalogue of Products Whose Refund Tax Rate Remains 17%

HS Codes	Commodity Description	Remarks
8901-8902, 8904, 8905-8906, 8907	Ships	Among the HS Codes, those whose current tax refund rate is 17% shall remain unchanged, while for those whose tax refund rate is 13%, the rates adjusted in the present Notice shall prevail
84073410, 84073420 84082010-84089010 84089092-84089093 87012000-87079090 87161000-87169000 84099191-84099199 84099991-84099999 8708	Automobiles and their key components and parts	The same as above
8456-8460, 8462	Digital control machine tools, machining centers, combined machine tools
8425-8430 84671100-84678900 84743100-84748090 84791021-84791090	Machines for hoisting or construction use, mechanical hoisting equipment, machines for construction and mining	The same as above
851730-85175029	Program-controlled telephone, telegram exchanger, optical communication equipment
9018-9020, 90221200-90221400 90222100	Medical apparatuses and appliances
8601-8606	Railway locomotives
84713000	portable digital automatic data processing devices below 10 kilograms
88	Aircrafts and spacecraft
8454-8455	Metal smelting equipment
8534	Printing circuits

Annex 2:

Catalogue of Products of Which the Refund Tax Rate is Adjusted to 13%

HS Codes

Commodity Description

Tax Refund Rates After Adjustment

Remarks

1. Edible Flour

1101

Wheat or maslin flour

13%

11022000

Maize (corn) flour

13%

11023010

Nonglutinous rice flour

13%

11023090

Other rice flour

13%

11031100

Groats and meal of wheat

13%

11031300

Groats and meal of maize (corn)

13%

11031921

Coarse grains and meal of nonglutinous rice

13%

11031929

Coarse grains and meal of other rice

13%

11032010

Wheat pellets

13%

11081100

Wheat starch

13%

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON CARRYING THROUGH THE DECISION OF THE STATE COUNCIL ON REFORM OF THE EXISTING EXPORT TAX REFUND MECHANISM

State Administration of Taxation

Circular of the State Administration of Taxation on Carrying through the Decision of the State Council on Reform of the Existing Export
Tax Refund Mechanism

GuoShuiFa [2003] No. 137

November 13th, 2003

The administrations of state taxation of all provinces, autonomous regions, municipalities directly under the Central Government,
and cities directly under State planning, as well as all the entities under the State Administration of Taxation:

With a view to seriously carrying through the Decision of the State Council on Reform of the Existing Export Tax Refund Mechanism
(GuoFa [2003] No. 24, hereinafter referred to as the “Decision”), actualizing the reform of export tax refund mechanism, and further
advancing the work of export tax refund, as well as promoting the sustainable and healthy development of foreign trade and economy,
we hereby make the following notice:

Earnestly improving the understanding on the great significance of reforming the export tax refund mechanism

Since1985, the export tax refund policy of China has played an important role in supporting foreign trade and promoting the sustainable,
stable and healthy development of national economy. But there are still some contradictions and problems to be solved urgently in
the active export tax refund mechanism, to which the Central Committee of the Communist Party of China and the State Council have
attached high importance, and they have made the great decision on reforming the existing export tax refund mechanism after careful
investigation and widely soliciting the opinions of all parties concerned. The present reform on the export tax refund mechanism
concerns not only the adjustment of interest relations between the Central Government and the local governments, but also concerns
the reform of the foreign trade mechanism, the overall situation of foreign trade & export and the development of national economy
as well. As the major departments for carrying through the plan for reform of the export tax refund mechanism, the administrations
of state taxation at all levels shall earnestly study and profoundly understand the spirit of the Decision, be fully aware of the
great significance of the reform on export tax refund mechanism, and consolidate the thoughts and action into the spirit of the “Decision”
from the height of deeply putting into effect the spirits of the Sixteenth Congress of the Communist Party of China and completely
putting the important thought of “Three Represents” into practice, emphasizing the political awareness, paying attention to the overall
situation, and fully understanding the policies, as well as grasping the main points, so as to ensure that the reform of the export
tax refund mechanism goes on smoothly.

II.

Concentrating energy, firmly putting into effect and completely carrying through the spirits of the “Decision”

The period between the end of 2003 and the beginning of 2004 is the key phase for the reform of the export tax refund mechanism. The
administrations of state taxation at all levels shall, in light of the uniform deployment of the State Administration of Taxation,
and according to the particular circumstances of their own regions, make investigation and set down specific suggestions for putting
the reform into effect. The problems and effects that may be brought about by the reform shall be taken into full consideration,
and the actualization of the reform shall be followed up closely so as to have the new problems occurring in the reform found out,
studied and solved in time; the exchange of information between the upper level and the lower level shall be strengthened, and the
new conflicts appearing in the reform shall be dissolved at any time through continuously improving relevant policies and measures;
various measures shall be taken for making publicity and interpretation to the export enterprises as soon as possible, and to combine
the strict law enforcement with the optimization of tax refund services, so as to actually put the various reform measures into effect.

At the present time, the export tax refund work is confronted with new situations, the tasks thereof are heavy, and the management
is more difficult. The State Administration of Taxation, jointly with other relevant departments, is now urgently investigating and
formulating specific implementation measures for the reform, which shall, together with the promulgation of corresponding supporting
measures, be carried through earnestly by the administrations of state taxation at all levels. The principle of being responsible
not only for the State but also for the enterprises, and not only for the Central Government but also for the local governments shall
be followed in the administration of export tax refund, so as to have the work for the administration of export tax refund well done
in the process of alternation from the old mechanism to the new one.

III.

Further improving the efficiency of export tax refund work and speeding up the progress of export tax refund

The administrations of state taxation at all levels shall, in light of the spirit of the recent meeting of the whole country on the
work of import and export taxation, earnestly implement the declaration, auditing, and examination and approval of the export tax
refund in the last two months of the year 2003, so as to further improve the efficiency of the work of export tax refund. The primary
responsible persons of the administrations of state taxation at all levels shall attach sufficient importance to the work, the leaders
of the administrations responsible for export tax refund shall assume leadership in person, and formulate specific work schemes,
so as to ensure that the work is actually put into effect.

The administrations of state taxation at all levels shall supervise and urge the export enterprises to collect tax refund documents
as soon as possible, handle the determination of the special VAT invoices in time on the monthly basis, and declare for the tax refund
in time. The State Administration of Taxation hereby reaffirms that any declaration of the export enterprises may not be refused
by the local taxation authorities for lack of tax refund quotas. In the meantime, the local administrations shall strengthen cooperation
with the competent departments in charge of foreign trade and economy, requiring them to solve in time the problems encountered in
the collection of tax refund documents by the export enterprises, so as to help the export enterprises speed up the collection of
documents.

The local taxation authorities shall make timely analysis on the declaration of tax refund by export enterprises, and in case the
export enterprises are unable to collect all the tax refund such documents as the documents of customs declaration for export, documents
for collecting, verifying and writing off export proceeds in foreign exchange, which caused the lagging behind of the declaration
of tax refund, the local tax authorities shall report to the local governments in time and explain the reason, so as to gain the
understanding and support of the governments. And the relevant matters concerned shall also be reported to the State Administration
of Taxation in time.

IV.

Strengthening administration on export tax refund, taking strict precautions against export tax refund fraud

Firstly, we shall keep alert on preventing and combating tax fraud at the time. The administrations of state taxation at all levels
shall put into effect the system of work post responsibility and the system of fault prosecution in law enforcement, and strengthen
supervision over law enforcement on export tax refund. Secondly, cooperation with such local departments as the finance, business
affairs, customs, and foreign exchange administration, etc. shall be strengthened so as to positively push the construction of Port
Electronic Law Enforcement System, bring into full play the advantages of interlink of the data of electronic port among such departments
as the customs, taxation, foreign exchange administrations, etc., and further improve the level of administration on electronic examination
and verification of export tax refund and the accuracy of law enforcement. Thirdly, we shall push forward the work of export tax
fund for the examination and verification on electronic information by using the special VAT invoices, change our minds, and establish
a new system for the administration on export tax refund as soon as possible, which shall be based on the information administration,
with the examination and verification on the special VAT invoices as the core, so as to bring into full play the role of the golden
taxation project for the prevention of tax fraud.

State Administration of Taxation
2003-11-13

MEASURES FOR THE ADMINISTRATION OF THE LANDING OF OVERSEAS SATELLITE TELEVISION CHANNELS

State Administration of Radio, Film and Television

Order of the State Administration of Radio, Film and Television

No.22

The Measures for the Administration of the Landing of Overseas Satellite Television Channels, which were approved by the executive
meeting of this Administration on November 14, 2003, are hereby issued and shall go into effect on January 10, 2004.

Xu Guangchun, the Director of the State Administration of Radio, Film and Television

December 4, 2003

Measures for the Administration of the Landing of Overseas Satellite Television Channels

Article 1

The present Measures are formulated with a view of strengthening the administration of the landing of overseas satellite television
channels.

Article 2

The present Measures shall be applicable to the administration of the landing of overseas satellite television channels within the
People’s Republic of China through satellite transmission.

Article 3

The State Administration of Radio, Film and Television (hereinafter referred to as SARFT) shall be in charge of the centralized administration
of the landing of overseas television channels, and implement the system of examination and approval to the landing of foreign satellite
television channels.

Article 4

Overseas satellite television channels may, upon approval of SARFT, land within the prescribed range, such as foreign-related hotels
at the three-star level or above, and the foreign-related flats especially provided to foreigners as office or residence, and other
specific ranges.

Article 5

an overseas satellite television channel to be landed in China shall satisfy the requirements as follows:

The contents played shall not infringe the provisions of the laws, regulations and rules of China;

The applicant is a legal television media in its home country (region);

The applicant shall have the comprehensive strength to conduct mutually beneficial cooperation with the radio and television stations
of China, and make an commitment and actively assist in the landing abroad of China’s radio and television programs;

The channel applying for landing and the institutions directly related thereto are friendly to China, and have established long and
friendly exchange and cooperation relationship with China in the field of radio and television;

The applicant shall agree that the programs of its channel should be transmitted by the institution designated by SARFT (hereinafter
referred to as designated institution) in a unified way, and make an commitment not to land those programs within China through any
other means;

The applicant shall agree to entrust the designated institution to act as its agent to handle all the matters related to the landing
within China.

Article 6

SARFT will make the examination and approval of the applications for landing of overseas satellite television channels once a year,
between July and September.

Article 7

In principle, only one channel for each foreign satellite television institution may be permitted to land within the specific range.
No news-oriented overseas satellite television channel shall be approved to land within China as a general principle. And no satellite
television channel that is launched or jointly operated abroad by any domestic radio and television institution or any other relevant
departments, organizations, enterprises or individuals shall be approved to land within China. For any special circumstances, the
application shall be submitted to SARFT for special approval.

Article 8

To apply for the landing of a foreign satellite television channel, the applicant must first submit the application to the designated
institution, fill in the Memorandum of Satellite Television Channels according to the requirements, and submit the certificates prescribed
in Articles 5 and 7 herein and the reception devices such as decoders, etc. If the application documents are incomplete, the applicant
shall supplement the lacking part within 14 days from the day of receiving the relevant notice, and shall be deemed as waiving the
application automatically if failing to make supplementation within the said time limit. The designated institution shall, after
receiving all of the application documents, submit the application to SARFT for the landing within China of the overseas satellite
television channel for which it acts as an agent.

Article 9

In the case that SARFT approve the designated institution to negotiate with the overseas satellite television channel on the agency
of the landing of its channel, if that overseas satellite television channel applies for landing for the first time, it shall negotiate
on the relevant cooperation matters with the designated institution within 60 days; if it obtained the landing qualification in the
last year, it shall make the negotiation within 45 days. If it fails to make the negotiation within the said deadline, it shall be
deemed as waiving the application automatically.

SARFT shall grant approval for the landing of the foreign satellite television channel, if it satisfies the provisions in Articles
5 and 7 hereof.

Article 10

An overseas satellite television channel approved to land must comply with the relevant provisions of China on the administration
of overseas satellite television.

Article 11

An overseas satellite television channel approved to land shall adjust the coverage of the original satellite signals in accordance
with the requirements of the designated institution; perform the agreement signed with the designated institution; and may not carry
out within China any promotion activities for the television channel, the brand thereof, and the relevant reception devices without
permission.

Article 12

It is not permitted for an overseas satellite television channel approved to land to play any program containing any of the following
contents:

Those imperiling the unification of the state and the integrity of the sovereignty and territory of China;

Those imperiling the state security of China, impairing the honor and interest of China, and divulging the state secrets of China;

Those stirring up the splitting of nationalities, hatred and discrimination among the nationalities, undermining the solidarity of
the nationalities, and infringing upon the customs and habits of the nationalities of China;

Those endangering the social stability of China, advocating obscenity, violence, superstition, evil religions, and instigating commitment
of crimes;

Those defaming or insulting others and infringing upon the legal rights and interests of others;

Those endangering the public morality of China and defaming the excellent cultural traditions of China; and

Other contents that infringe the laws, regulations, and rules of China.

Article 13

Any of the following alterations to a foreign satellite television channel approved to land must be notified to and negotiate with
the designated institution beforehand, and the designated institution shall report to SARTF:

Alterations of the shareholding structure, management power, investors, and principal managers of the channel and the institutions
directly related thereto;

Alterations of the important matters specified in the Memorandum of Satellite Television Channels, such as the name of the channel,
the type of the channel, the constitution of the program, the broadcasting languages, and the subpost_titles, etc.;

Alterations of relevant technical parameters, such as whether the broadcasting signals are coded or not, the transmitting satellites
and the coverage thereof, etc.

Alterations of any of the contents involved in Articles 5 and 7 hereof.

If SARFT deems that a channel approved to land no longer satisfies the requirements provided for herein due to any of the alterations
mentioned above, it may deal with the channel correspondingly or even disqualify that channel from landing.

Article 14

The administrative departments of radio and television at various levels shall administer the reception of relevant overseas satellite
television channels in accordance with the Provisions on the Administration of Earth Reception Facilities for Satellite Television
and Radio Programs (Order 129 of the State Council) and the relevant provisions.

Article 15

The designated institution shall assist the administrative department of radio and television to supervise the relevant acts and the
contents played by the foreign satellite television channel for which it acts as an agent by taking necessary prevention and treatment
measures, cooperate with SARFT in the relevant handling, and report in good time any problems that have been identified.

In the case that an overseas satellite television channel approved to land plays any contents that infringe Article 12 hereof, the
designated institution shall immediately stop the transmission of the rule-breaking contents.

Article 16

In the case that an overseas satellite television channel approved to land infringes any provisions hereof, if the offence is minor,
SARFT shall give it a warning and demand it to state the situation and make correction; if the offence is serious, SARFT shall suspend
the transmission of the specific contents, and suspend or revoke the landing qualification of the relevant channel.

Article 17

In the case that an overseas satellite television channel approved to land has caused any negative effect, it shall, apart from accepting
the corresponding treatments, eliminate such negative effect within the same dissemination range in accordance with the requirements
of SARFT.

Article 18

The present Measures shall be referred to with respect to the administration of the overseas satellite television channels approved
by SARFT to land within the specified areas within China.

Article 19

The present Measures shall go into effect on January 10, 2004. The Interim Measures for the Administration of the Examination and
Approval of the Landing of Foreign Satellite Television Channels (Order No.8 of SARFT) shall be abolished at the same time.

State Administration of Radio, Film and Television
2003-12-04

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Russia Laws

The basic law

Concluding and Transitional Provisions

PROVISIONS CONCERNING THE ADMINISTRATION OF FOREIGN-FUNDED BUSINESS-STARTING INVESTMENT ENTERPRISES

CIRCULAR ON INVESTIGATING ADOPTION OF THE ENTERPRISE ACCOUNTING SYSTEM BY ENTERPRISES WITH FOREIGN INVESTMENT

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON THE TRANSITIONAL POLICY AND MEASURES AFTER CANCELING ADMINISTRATIVE EXAMINATION AND APPROVAL OF FOREIGN EXCHANGE ADMINISTRATION OF SOME CAPITAL PROJECTS

MEASURES FOR THE QUARANTINE AND ADMINISTRATION OF HEREDITARY SUBSTANCE OF ENTRY ANIMALS

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE AND CHINA INSURANCE REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING THE ADMINISTRATION OF SALE AND PAYMENT OF FOREIGN EXCHANGE IN OVERSEAS REINSURANCE CEDING

PROVISIONS ON THE MANAGEMENT OF GREEN PASSAGEWAY SYSTEM FOR INSPECTION AND QUARANTINE OF EXPORT GOODS

Error

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ADJUSTING THE EXPORT REBATE RATES

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON CARRYING THROUGH THE DECISION OF THE STATE COUNCIL ON REFORM OF THE EXISTING EXPORT TAX REFUND MECHANISM

MEASURES FOR THE ADMINISTRATION OF THE LANDING OF OVERSEAS SATELLITE TELEVISION CHANNELS

CONSTITUTION ACT, 1982 – page 22

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

CONSTITUTION ACT, 1982 – page 17

CONSTITUTION ACT, 1982 – page 16

CONSTITUTION ACT, 1982 – page 12

CONSTITUTION ACT, 1982 – page 11

CONSTITUTION ACT, 1982 – page 10

CONSTITUTION ACT, 1982 – page 9

CONSTITUTION ACT, 1982 – page 8

CONSTITUTION ACT, 1982 – page 7