PORT LAW OF THE PEOPLE’S REPUBLIC OF CHINA

Order of the President of the People’s Republic of China

No.5

The Port Law of the People’s Republic of China, adopted at the 3rd Meeting of the Standing Committee of the 10th National People’s
Congress of the PRC on June 28, 2003, is hereby promulgated for implementation as of January 1, 2004.
Hu Jintao, President of the People’s Republic of China

June 28, 2003

Port Law of the People’s Republic of China

Adopted at the 3rd Meeting of the Standing Committee of the 10th National People’s Congress of the PRC on June 28, 2003

Contents
Chapter I General Provisions

Chapter II Port Planning and Construction

Chapter III Port Operations

Chapter IV Port Security and Supervisory Management

Chapter V Legal Responsibilities

Chapter VI Supplementary Provisions
Chapter I General Provisions

Article 1

This Law has been formulated for the purposes of strengthening port administration, maintaining port security and operation orders,
protecting the legitimate rights and interests of the parties concerned and promoting port construction and development.

Article 2

This Law is applicable to the undertakings of port planning, construction, maintenance, operation, management and the relevant activities.

Article 3

Ports herein refer to the areas of water and land within certain range with corresponding dock facilities of functions for entry
and exit of ships, anchorage, moorage, off and on of passengers, handling of commodities, lighterage, as well as storage.

Ports may consist of one or more port areas.

Article 4

The State Council and the relevant local people’s government of and above county level shall in the plan on national economy and
social development embody the requirements for port development and planning and protect and make rational use of the port resources
by force of law.

Article 5

The state encourages the economic organizations and individuals at home and abroad to make investment on construction and operation
of ports and protect the legitimate rights and interests of investors by force of law.

Article 6

The competent traffic authority of the State Council is in charge of the national administration of port works.

The administration of ports by local people’s government within its administrative division shall be determined according to the provisions
on the port administrative system of the State Council.

For the ports under the administration by the local people’s government of the city and county level as per the port administrative
system determined herein, the local people’s government concerned shall designate a department for actual implementation of the administrative
management of the ports concerned; and for the ports under the administration by the people’s government of the province, autonomous
region and municipality directly under the Central Government, the people’s government of the province, autonomous region and municipality
directly under the Central Government shall designate a department for actual implementation of the administrative management of
the ports concerned.

The departments determined herein for actual implementation of the administrative management of the ports are hereinafter referred
to as the administrative management of the ports.

Chapter II Port Planning and Construction

Article 7

Ports planning should be prepared and compiled according to the requirements for national economy and social development and the
demands for defense construction, which shall in the principle of rational utilization of the coastal resources conform to the planning
of urban and township system and dovetail and be in harmony with the overall land use planning, overall urban planning, river reach
planning, flood prevention planning, functional division of seas, development planning of waterway transportation, development planning
of other means, as well as other relevant planning specified by laws and administrative laws and regulations.

The preparation and compilation of ports planning shall witness expert demonstration and evaluation of environmental influences by
force of law.

Article 8

The ports planning shall consist of port layout planning and overall port planning.

The port layout planning refers to the layout and distribution planning of ports, including national port layout planning and port
layout planning of the province, autonomous region and municipality directly under the Central Government.

The overall port planning refers to the specific planning of a port in certain period, including the water and land scopes of the
port, division of the port area, throughput and categories of potential ships, nature and functions of the port, utilization of the
water and land areas, port facilities, use of the coastal lines built, configuration of construction land, and sequences for phased
construction, etc.

The overall port planning shall conform to the port layout planning.

Article 9

The national port layout planning should be prepared by the competent traffic authority of the State Council upon solicitation of
the opinions of the relevant departments of the State Council and the relevant military organs, which should be ratified by the State
Council before promulgation and implementation.

The port layout planning of the province, autonomous region and municipality directly under the Central Government shall be prepared
and compiled under the organization of the people’s government of the province, autonomous region and municipality directly under
the Central Government, which should be submitted for solicitation of opinions form the competent traffic authority of the State
Council according to the national port payout planning. In case no opinions have been aired for modification by the competent traffic
authority of the State Council within thirty days upon its receipt of the solicitation of opinions, such port layout planning may
be promulgated for implementation by the people’s government of the province, autonomous region and municipality directly under the
Central Government; in case the competent traffic authority of the State Council is of the opinion that the port layout planning
is not in compliance with the national port layout planning, the opinions on modifications should be provided for within thirty days
upon receipt of the solicitation of opinions; and in case the people’s government of the province, autonomous region and municipality
directly under the Central Government is in disputer with the modification opinions, a petitions may be submitted for decision by
the State Council.

Article 10

The overall port planning should be prepared and compiled by the port administrative department upon solicitation of opinions from
the relevant departments and the relevant military organs.

Article 11

The overall planning of the principal ports of important geographical positions, large throughput and wide influence on economic
development should be promulgated for implementation with joint approval by the people’s government of the province, autonomous region
and municipality directly under the Central Government upon solicitation by the competent traffic authority of the State Council
of opinions from the relevant department of the State Council and the relevant military organs. The directory of the principal ports
should be determined and promulgated upon solicitation by the competent traffic authority of the State Council of opinions from the
relevant department of the State Council.

The people’s government of the province, autonomous region and municipality directly under the Central Government shall determine
the important ports within the administrative division under its jurisdiction upon solicitation of opinions from the competent authority
of the State Council. Before promulgation and implementation, the overall planning of important ports should be ratified by the people’s
government of the province, autonomous region and municipality directly under the Central Government upon solicitation of opinions
from the competent traffic authority of the State Council.

The overall planning of the ports other than those specified by the above-mentioned two paragraphs should be approved by the local
people’s government of city and county level before promulgation and implementation, which should also be submitted for filing by
the people’s government of the province, autonomous region and municipality directly under the Central Government.

The overall port planning prepared and compiled by the port administrative departments of the people’s government of city and county
level within the scope specified by the first and second paragraphs of this article should be reviewed and ratified by the people’s
government of the proper level before submission for ratification and approval.

Article 12

The modification of the port planning should be handled with in compliance with the statutory procedures for port planning.

Article 13

The construction of port facilities in the overall planned areas of ports and use of the deep-water lines of ports should be approved
by the competent traffic authority of the State Council jointly with the comprehensive and macro-control and adjustment department
of economy of the State Council, and the construction of port facilities and use of the deep-water lines of ports should be approved
by the port administrative departments, provided that the use of port coastal lines by the projects to be constructed with approval
by the State Council or the comprehensive and macro-control and adjustment department of economy of the State Council does not require
for separately handling of the procedures relating to approval for use of the port coastal lines.

The competent traffic authority of the State Council should formulate the standards for the deep coastal lines of ports.

Article 14

The port construction shall be in compliance with the port planning and no port facilities should be constructed in violation of
the port planning.

Article 15

The port construction projects requiring for approval by the relevant organ according to the state provisions, shall go through the
examination and approval procedures in compliance with the relevant state provisions, which shall conform to the relevant state standards
and technological norms.

The construction of the port engineering project shall go through the evaluation of environmental impacts by force of law.

The security facilities and environmental protection facilities for port construction projects must by designed, implemented and put
into use synchronously with the mainstay engineering.

Article 16

The use of land and water areas for port construction shall be handled with in compliance with the provisions of the laws and administrative
regulations concerning the land administration, administration for use of seas, watercourse administration, navigation administration,
and the protection administration of military facilities, as well as other relevant laws and administrative regulations.

Article 17

The places of the ports where dangerous cargos are processed and where sanitary and insecticide treatment are made shall meet the
requirements of the overall port planning and the relevant state security production, firefighting, inspection, quarantine and environmental
protection, and their distance from densely populated areas and passenger facilities of the ports shall conform to the provisions
of the relevant departments of the State Council. The construction may be started only upon handling of the relevant formalities
by force of law and approval by the port administrative department.

Article 18

Navigation mark facilities and other accessory facilities shall be constructed synchronously with the ports, thus ensuring scheduled
start of use.

The construction of the office facilities of the relevant administrative administration of the ports shall conform to the overall
port planning, the construction fees of which should not be distributed to the port operators.

Article 19

The construction projects of port facilities can only be put into use after qualified acceptance examination upon their completion
in compliance with the relevant state provisions.

The ownership of the port facilities shall be determined according to the provisions of the relevant law.

Article 20

The relevant people’s government above county level shall ensure necessary capital input, which should be used for construction and
maintenance of the infrastructures of the navigation path, wave-prevention slope and anchoring sites for public use of the ports.
The detailed measures thereof should be provided for by the State Council.

Article 21

The relevant people’s government above county level shall take measures for organizing and constructing complementary facilities
of the ports, such as navigation path, railway, highway, water supply and drainage, power supply and communication.

Chapter III Port Operations

Article 22

The undertakings of port operation shall be available for the port operating licenses obtained from the port administrative department
with written application with registration made at the administration for industry and commerce. by force of law.

The port administrative department shall abide by the principles of openness, fair and equality in implementing the port operation
licenses.

Port operations include the operations of docks and other port facilities, operations of passenger services of the ports, operations
of handling, lighterage and warehousing within the port area and the operations of tugboats of the ports.

Article 23

The obtaining of the port operation licensing shall be available with fixed operation sites, corresponding facilities, equipment,
professional technicians and management personnel relating to the operation businesses, together with other conditions specified
by laws and regulations.

Article 24

The port administrative department shall within thirty days upon receipt of the written application as specified by the first paragraph
of Article 22 herein make decision on whether or not granting the license by force of law. In case the license is granted, the certificate
for license of port operation will be issued, otherwise, reasons thereof should be notified to the applicant in writing.

Article 25

Operations of port trimming services shall be eligible for licenses obtained according to the provisions. The implementation of the
operation licenses for port trimming services shall abide by the principles of openness, fairness and equality, the detailed measures
for which should be provided for by the competent traffic authority of the State Council.

The operators of port trimming services shall fairly and accurately handle with the trimming services, being prohibited from concurrent
operations of the cargo handling services and warehousing services specified in the third paragraph of Article 22 herein.

Article 26

in undertakings of operations, the port operators shall abide by the relevant laws and regulations, the provisions of the port operation
rules of the competent traffic authority of the State Council and perform the contractual duties by force of law, thus providing
customers with fair and excellent services.

The operators undertaking the port passenger services shall adopt effective measures for the security passengers, provide passengers
with quick, convenient and flexible services, and maintain good climate for waiting of the scheduled travel.

The port operators shall adopt effective measures for prevention and treatment of the pollution and harms to the environment according
to the relevant laws and regulations on environmental protection.

Article 27

The port operators shall take priority in arranging the rescue materials, calamity relief materials and materials urgently required
by national defense construction.

Article 28

The port operators shall at the business sites publish the charging items and charging criteria of the operation services, which
should not be implemented without publication.

In case the operation charges of ports adopt the prices directed or determined by the government by force of law, the port operators
shall execute in compliance with the provisions.

Article 29

The state encourages and protects the fair competition in port operation activities.

The port operators shall not implement monopoly acts or unfair acts, or force others to provide port services by any means.

Article 30

According to the provisions of the Statistic Law of the PRC and the relevant administrative laws and regulations, the port administrative
department requires for the port operators to provide the statistic data, which should be provided truthfully by the port operators.

The port administrative department shall according to the relevant state provisions submit the statistic data submitted by the port
operators and keep confidential the commercial secrets of the port operators.

Article 31

The legitimate rights and interest of the port operators is protected by law and no unit or individual shall distribute charges to
or illegally collect charges from the port operators or illegally interfere with the operation autonomy of the port operators.

Chapter IV Port Security and Supervisory Management

Article 32

According to the provisions of the Security Production Law of the People’s Republic of China, other relevant laws and regulations
and the security operation rules on ports of the competent traffic authority of the State Council, the port operators shall strengthen
the administration of security production, establish and perfect rules and systems relating to the security production responsibility
system, perfect the security production conditions, adopt the effective measures for safeguard of the security production and ensure
the security production.

The port operators shall by force of law formulate the preplan on incident emergency of the dangerous cargos of the this port, the
urgent passenger scattering and rescue preplan in case of material production security incidents and preplan on prevention of natural
disasters, thus safeguarding the organization and implementation thereof.

Article 33

The port administrative department shall by force of law formulate the preplan on incident emergency of the dangerous cargos of the
this port potentially to the detriment of social public interests, the urgent passenger scattering and rescue preplan in case of
material production security incidents and preplan on prevention of natural disasters, and establish and perfect the urgent rescue
system in case of material production security incidents on the ports.

Article 34

Entry and exit of ships of the ports shall be reported to the marine administrative authority according to the laws and administrative
laws and regulations of water traffic, upon receipt of which the marine administrative authority shall give timely notice to the
port administrative department.

Port entry and exit of ships with dangerous cargos shall according to the provisions of the competent traffic authority of the State
Council be accompanied with report of the names, features, package and time of entry and exit of the port of the dangerous cargos
to the marine administrative authority, upon receipt of which the marine administrative authority shall within the time specified
by the competent traffic authority of the State Council determine whether or not consent is granted, together with notice to the
reporter and submission to the port administrative department, provided that fixed ships and ships of fixed navigation lines and
fixed cargo varieties may be reported regularly.

Article 35

In case of handling of dangerous cargos and their transfer among ships in the port, the names, features, package and time and place
for such operations of the dangerous cargos should according to the provisions of the competent traffic authority of the State Council
be reported to the marine administrative authority, upon receipt of which the marine administrative authority shall within the time
specified by the competent traffic authority of the State Council determine whether or not consent is granted, together with notice
to the reporter and submission to the port administrative department.

Article 36

The port administrative department implement supervisions and inspection on the security production of the ports and focus on patrol
inspection on the docks of concentrated passenger flow and big volume of cargos or of special use, and in case of any hidden risks
found during the inspection, the inspected should be ordered to eliminate such risk immediately or within time limits.

The department in charge of security production and the relevant departments shall according to the provision of laws and regulations
implement supervisions and inspection on the security production of the ports within their authority.

Article 37

Cultivation and plantation activities are prohibited in the ports.

No digging or explosion activities should be conducted in the ports that may harm the port security, which, if required for engineering
construction, should be adopted with the corresponding security and protection measures with approval from the port administrative
department, and if required for approval by the marine administrative authority according to the laws and administrative laws and
regulations of water traffic, submission should be made for such approval by the marine administrative authority.

No soil, sand or stones should be poured in the port water and poisonous and harmful substance exceeding specific standards should
not be discharged in violation of the relevant laws and regulations on environmental protection.

Article 38

In case of project construction of bridges, underwater tunnels and water power stations that may be of influence on the changes of
the port hydrological conditions, the department in charge of approval of such project shall solicit the opinions of the port administrative
department prior to examination and approval.

Article 39

According to the laws and administrative laws and regulations of water trafficships needing navigation pilot for entry and exit
of the ports shall apply for pilot with the piloting agency, the detailed measures for piloting should be specified by the competent
traffic authority of the State Council.

Article 40

In case of congestion of the ports due to stay of passengers and accumulation of cargos, the port administrative department shall
timely adopt effective measures for alleviation of the port load and the local people’s government of city and county level may,
if necessary, directly adopt the measures for port alleviation.

Article 41

The port administrative department shall organize for formulation of the articles of association of the ports under its administration,
which should be published.

The articles of association of the ports shall include the description of the geological location of the ports, the navigation path
conditions, depth of the port pool, machinery facilities and handling capacity, as well as the specific measures for the ports to
implement the laws and regulations on port administration and the relevant provisions of the competent traffic authority of the State
Council.

Article 42

The port administrative department shall supervise and inspect the implementation of this Law.

When implementing supervision and inspection by force of law, the inspectors of the port administrative department shall be enpost_titled
to understand the relevant circumstances from the inspected units and the relevant persons and read and copy the relevant materials.

The inspectors shall keep confidential the commercial secrets accessed during inspection.

The inspectors shall present the enforcement certificates while implementing inspection and supervision.

Article 43

The inspectors shall record in writing the inspection time, place, content, problems found and treatment, which should be singed
by the inspectors and the responsible person of the inspected unit, and in case the responsible person of the inspected unit refuses
to sign on the records, the inspectors shall keep filing and report to the port administrative department.

Article 44

The inspected units and the relevant persons shall accept the inspection and supervision implemented by the port administrative department
by force of law, such as truthfully providing the relevant circumstances and materials, not refusing to the inspection, not concealing
and fraudulently reporting the relevant circumstances and materials.

Chapter V Legal Responsibilities

Article 45

In any of the following cases, the people’s government above county level or the port administrative department shall order for correction
in time limit and in case no correction has been made, the authority making such order may apply with the people’s court for dismantling
the facilities constructed in breach of law, and/or together with fins no more than RMB50,000.00:

(1)

Construction of ports, dock or other port facilities in violation of ports planning;

(2)

Construction of port facilities and use of port coastal lines without approval.

In case the examination and approval department of the construction project approve the projects constructed in violation of the port
planning, the direct responsible executive and other direct responsible person should be accorded with administrative punishment.

Article 46

In case of construction of operation sites for dangerous cargos in the port, special sites for sanitary and insecticide treatment
without approval by force of law, or the distance from the operation sites for dangerous cargos in the port and special sites for
sanitary and insecticide treatment to densely populated areas or passenger facilities of the ports is not in compliance with the
provision of the relevant department of the State Council, the port administrative department may order for stopping the construction
or the use concerned and for correction in time limit, and/or together with fines no more than RMB50,000.00.

Article 47

Use of docks, or port handling facilities, passenger facilities without qualified examination and approval, the port administrative
department may order for stopping use of such facilities concerned and for correction in time limit, and/or together with fines no
more than RMB50,000.00.

Article 48

In case of any of the following acts, the port administrative department may order for stopping the illegal operations and confiscation
of the illegal incomes. In case the illegal incomes exceed RMB100,000.000, fines of two to five times the illegal incomes may be
imposed concurrently; and in case the illegal incomes is no more than RMB100,000.000, fines no less than RMB50,000.00 but no more
than RMB100,000.00 may be imposed:

(1)

Undertaking of port operations without obtaining the port operation license by force of law;

(2)

Undertaking of port trimming services without license by force of law; and

(3)

The port trimming operators are concurrently involved in undertakings of cargo handling and warehousing services.

In case of act specified in the above-mentioned paragraph (3) with serious circumstances, the relevant competent authority may revoke
the license for port trimming services.

Article 49

In case the port operators does not take priority in arranging the works relating to rescue materials, calamity relief materials
and materials urgently required by national defense construction, the port administrative department shall prosecute for correction,
and in case of serious results, the port business license may be repealed.

Article 50

In case the port operators implement monopoly acts or unfair acts in business activities in violation of the relevant laws and administrative
laws and regulations, legal responsibilities should be undertaken in compliance with the provisions of the relevant laws and administrative
laws and regulations.

Article 51

The port operators in breach of the provision on security production of Article 32 of this Law, the port administrative department
or other department in charge of supervision and administration of security production by force of law may accord corresponding punishment;
in serious case, the port administrative department may revoke the port operation license and accord punishment with the principal
responsible persons; and in case of crimes constituted, penal punishment may be prosecuted by force of law.

Article 52

In case of entry and exit of ships of the port without reporting to the marine administrative authority in compliance with the provisions
of Article 34 of this Law, the marine administrative authority shall accord with the punishments according to the laws and administrative
laws and regulations of water traffic.

Article 53

In case of undertaking of handling and transferring among ships dangerous cargos in the port without reporting to the port administrative
department with consent by force of law, the port administrative department may order for stopping of the operations with fines no
lees than RMB5,000.00 but no more than RMB50,000.00.

Article 54

In case of cultivation and plantation activities in the port water areas, the marine administrative department shall order for correction
within time limit, and in case no correction has been made upon such order, the cultivation and plantation facilities should be dismantled
with the expenses thereof to be borne by the offender, and/or together with fine no more than RMB10,000.00.

Article 55

In case of digging and explosion activities, or pouring clay, sand, and stone in the port water areas that may harm the port security
without approval by force of law, the port administrative department shall order for stopping such acts and for elimination of any
hidden risk thereof within time limits; and in case no elimination has been achieved, such elimination shall be enforced with the
expenses thereof to be borne by the offender, and/or together with fine no less than RMB5,000.00 but no more than RMB50,000.00; in
case of punishment to be imposed by the marine administrative department in compliance with the provision of the laws and administrative
laws and regulations of water traffic, such provision should be observed, and in case of crimes constituted, penal punishment should
be prosecuted.

Article 56

In case of any of the following acts on the part of the competent traffic authority, the port administrative department or the marine
administrative department in violation of law, the direct responsible executive and other direct responsible person should be accorded
with administrative punishment, and in case of crimes constituted, penal responsibilities should be prosecuted:

(1)

Approval for construction of port facilities and use of port coastal lines in violation of law, approval for construction of operation
sites for dangerous cargos in the port, or special sites for sanitary and insecticide treatment in violation of law, or approval
for entry or exit of ships with dangerous cargoes of the ports in violation of law, or approval for handling and transfer among ships
dangerous cargos in the ports in violation of law;

(2)

Granting port operation license or port trimming service

CIRCULAR ON DISTRIBUTING THE MEASURES FOR THE ADMINISTRATION OF VERIFICATION AND WRITING-OFF OF EXPORT PROCEEDS IN FOREIGN EXCHANGE

The State Administration of Foreign Exchange

Circular on Distributing the Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange

HuiFa [2003] No.91

August 19, 2003

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

In order to further improve the administration of verification and writing-off of export proceeds in foreign exchange, to enhance
the efficiency of regulation and service, and to promote the development of China’s foreign trade, the SAFE has formulated the new
Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange (hereinafter referred to as
the Measures, see the attachments), and has obtained the consent jointly signed by the Ministry of Commerce, the General Administration
of Customs, and the State Administration of Taxation. The Measures are hereby distributed to you. Please carry them out accordingly.

In order to implement the Measures, the SAFE has designed and developed the “System of Verification and Report of Export Proceeds
in Foreign Exchange” (hereinafter referred to as the System), which is to be promoted and operated all over the country on a phased
basis. Considering that the time to start using the System by the localities is different, and in order to avoid confusion, any region
that has already started using the System before the implementation of the Measures shall execute the provisions of the Measures;
whereas any region that has not started to use the System shall still execute the former relevant provisions on the administration
of verification and writing-off of export proceeds in foreign exchange. The branches and designated foreign exchange banks shall
transmit this Circular to the agencies under their respective jurisdictions as soon as possible upon receipt of it. Please pass on
any problems arising during the execution to the Department of Current Accounts under the SAFE.

Attachment:

1. Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange

2. Catalogue of the Documents Repealed

Attachment 1Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange

Article 1

In order to further improve the administration of export proceeds in foreign exchange, and to promote the development of China’s foreign
trade, the Measures are enacted in accordance with the Regulations of the People’s Republic of China on Foreign Exchange Administration.

Article 2

Definitions of the following terms used in the Measures:

“Exporters” refers to all the entities that have been approved or registered by the commerce authorities or the organs authorized
thereby and that have the power of foreign trade management.

“Banks” refers to the banks and the branches thereof that have been approved or put on record by the financial supervisory and management
bodies of the state and the organs authorized thereby, and banks include Chinese-funded banks and foreign-funded banks.

“Forms for the verification and writing-off of export proceeds in foreign exchange” (hereinafter referred to as verification forms)
refers to the important vouchers with unified numbers that are uniformly managed by the SAFE and issued by the branches thereof,
and by which the exporters make declaration of exports with the customs offices, collect export proceeds in foreign exchange with
the banks, make verification and writing-off of export proceeds in foreign exchange (hereinafter referred to as verification) with
the foreign exchange authorities, and apply for export tax refund with the tax authorities.

“Certification Page of the Customs Declaration Form for Export Proceeds in Foreign Exchange” (hereinafter referred to as declaration
form) refers to the declaration form that is issued by the customs office to the exporter, after the clearance of the export goods,
to prove that the actual export of the goods, and on the basis of which the verification formalities are processed.

“Special Page of Verification and Writing-off of Export Proceeds in Foreign Exchange” (hereinafter referred to as special page) refers
to the special exchange settlement receipt for verification, or the special collection advice for verification that is issued by
the bank to the exporter and on the basis of which the verification formalities are processed.

“Future reference of verification” refers to the administrative system of verification in which the data of receivable proceeds in
foreign exchange that an exporter can not normally verified and written off due to objective reasons is transferred from the routine
regulatory database to the future reference database specially established, and is no longer included in the routine examination,
the exporter shall still be obliged to handle the verification, and the SAFE and the branches thereof shall continue to regulate
and investigate the exporter.

Article 3

the SAFE and the branches thereof (hereinafter referred to as foreign exchange administrations) are the administrative organs of verification,
shall supervise and administer the acts related to the collection of export proceeds in foreign exchange by the exporters and banks,
and shall process the verification formalities for the exporters through the System and the “System of China Electronic Port for
Collection of Export Proceeds in Foreign Exchange”.

Article 4

The foreign exchange administrations shall, in conjunction with the commerce authorities, make assessments of the verifications by
the exporters on an annual basis, grade the exporters and promulgate the grades.

Article 5

The verification shall be administered on a regional basis, an exporter shall make registration, apply for the verification form,
and go through the verification formalities with the foreign exchange administration of the place where it is registered.

Article 6

Where an exporter exports goods to any regions subject to closed customs control, such as overseas or domestic bonded areas, export
processing areas, diamond exchanges, etc. (hereinafter referred to as special domestic economic areas), or exports goods by way of
deep processing transit, etc., wherever it is needed to export by any method subject to the regulation of verification form, the
exporter shall go through the formalities for customs declaration on the strength of the verification form, and shall go through
the verification formalities. Where the goods are exported by any methods not subject to the regulation of verification form, the
exporter need not make the customs declaration on the strength of the verification form, neither need it go through the verification
formalities.

Article 7

Foreign exchange administrations shall apply classified administration to the verifications by the exporters according to the assessment
results of the verifications and other relevant information.

Article 8

An exporter shall, after obtaining the power of export management, go through the formalities for certification of access to “China
Electronic Port”, and shall make registration for record with the foreign exchange administration, which shall establish the verification
archive for the exporter.

Article 9

In the case of any alteration of the recorded information, an exporter shall make the alteration registration with the foreign exchange
administration in good time, and the foreign exchange administration shall alter the IC card authority of that exporter at “China
Electronic Port”. Where the exporter terminates its operations or is disqualified from foreign trade, it shall write off the registration
with the foreign exchange administration, which shall write off the IC card authority of that exporter at “China Electronic Port”.

Article 10

An exporter shall apply for the verification forms with the foreign exchange administration on the strength of the IC card of enterprise
operator of “China Electronic Port” and other prescribed certificates. The foreign exchange administration shall, after issuing the
verification form to the exporter, transmit the electronic ledger data of the verification form to the data center of “China Electronic
Port”.

Article 11

The verification forms may only be used by the exporter that applied for it, and may not be altered, lent, used in other’s name, transferred,
or traded.

Article 12

Where an exporter terminates operations, is disqualified from foreign trade, or is merged or split, it shall handle the verification
pursuant to the following provisions:

Where the exporter no longer operates export business because of termination of operations or disqualification from foreign trade,
it shall return the unused verification forms to the foreign exchange administration to write off them, and with respect to the verification
forms by which the goods are declared and exported, the exporter shall continue to handle the verification formalities pursuant to
the provisions. The foreign exchange administration shall stop issuing forms to that exporter, and shall “prohibit the use” of the
forms that have already been issued to that exporter and remain unused.

Where the exporter no longer operates export business as a result of merger or split, it shall return the unused verification forms
to the foreign exchange administration to write off them. The foreign exchange administration shall “prohibit the use” of the forms
that have already been issued to that exporter and remain unused.

Where the exporter continues to operate export business as a result of merger or split, it shall assume the former exporter’s business
for which the export proceeds in foreign exchange are verified and written off according to the stipulations of the agreement of
merger or split.

Article 13

The foreign exchange administration may adjust the number of the forms issued according to the assessed grades of verifications and
the daily business operations of the exporters. With respect to the exporters that have committed acts seriously violating the provisions
on foreign exchange control, the foreign exchange administration may restrict the number of forms issued to them, or may “prohibit
the use” of the verification forms that have been issued to them but are unused.

Article 14

The foreign exchange administration shall employ automatic verification, group verification, and one-by-one verification respectively
to the exporters on the basis of the assessments of the verifications by the exporters, the assessments by the customs, tax, and
commerce authorities, and the reports of international balance, etc., as well as different trade methods.

The conditions for exporters that are subject to automatic verification shall be provided by the SAFE, the catalogue shall be determined
by the SAFE, and be promulgated by the branches.

Article 15

An exporter shall, before making declaration with the customs office, put on record the verification form through the “System of China
Electric Port for Collection of Export Proceeds in Foreign Exchange” with the customs office where the declaration is to be made.

Article 16

An exporter shall, in making the customs declaration, faithfully report to the customs office the transaction method, report the transaction
price, quantity, freight, insurance premium, as well as the agreement number of the processing trade contract, etc., according to
the transaction method, and thus to guarantee the authentication and completeness of the data declared.

Article 17

The customs office shall process the clearance formalities for the exporter if no mistake has been found upon examination of the verification
form and other declaration materials submitted by the exporter, and after verifying the electronic ledgers of the verification form.
The customs office shall affix the “examination seal” on the verification form, make the remark of “used” to the electronic ledger
data of the verification form, and upon application by the exporter, issue the declaration form with the number of the verification
form to the exporter after the clearance. The number of the verification form and that of the declaration form shall be identical
with each other. The customs office shall, after issuing the declaration form to the exporter, transmit to the data center of “China
Electronic Port” the remarks made on the verification form and the electronic ledger of the declaration form.

Article 18

With respect to the export proceeds collected by an exporter from overseas, special economic areas, or off-shore accounts of overseas
clients opened with the banks operating off-shore bank business within China, and the export proceeds collected by a transferor from
the transferee under deep processing transit, etc., the bank shall, pursuant to the provisions, make foreign exchange settlement
or pay into account the export proceeds in foreign exchange for the exporter, and issue the special verification page to the exporter.

Article 19

An exporter shall, after exporting the goods and within 30 days no later than the anticipated date of proceeds collection, make the
report of verification with the foreign exchange administration by taking with it the verification form, the declaration form, the
special verification page, and other prescribed verification vouchers.

With respect to the future collection of proceeds in foreign exchange of which the anticipated date of collection is 180 days (including
180 days) or more after the declaration date, the exporter shall put on record the future collection with the foreign exchange administration
within 60 days after making the customs declaration.

Article 20

The foreign exchange administrations shall upload the verified electronic data of the previous month to the data center of “China
Electronic Port” for consulting or use by the relevant authorities of commerce, customs, and tax, etc.

Article 21

Under exports by agent, the agent shall process the formalities, such as applying for the verification form, making the export declaration,
handling the verification, and making the report of verification.

Article 22

The foreign exchange administration shall, after accepting the report of verification from an exporter, examine the authentication
of the verification vouchers or data provided by the exporter. Where the data reported by the exporter is incomplete, that exporter
shall be required to make supplementation. Where the data reported by the exporter is inconsistent with the electronic data transmitted
by the customs office or bank, the exporter shall be required to check, modify and make up the data with the relevant departments.
The customs office and bank shall deal with an application within 5 workdays after receiving it from an exporter.

Article 23

In examining the verification vouchers provided by an exporter, the foreign exchange administration shall, if the vouchers are complete,
the data is correct, and the balance between the export and the proceeds in foreign exchange collected or the import has not exceeded
the prescribed standards, make the verification according to different trade methods. Where the balance between the export and the
proceeds collected or the import exceeds the prescribed standards, the foreign exchange administration shall, after making sure that
the prescribed certifications of balance are correct, handle balance verification for the exporter. Where the balance between the
export and the collected proceeds or the import exceeds the prescribed standards, and no prescribed balance certifications are provided,
if the case meets the relevant provisions, future reference of balance shall be granted; if the case fails to meet the conditions
for future reference and exceeds the prescribed time limit for verification, such a case shall be treated as one not verified and
written off within the prescribed time limit.

Article 24

After handling the verification formalities for an exporter, the foreign exchange administration shall return the special tax refund
page of the verification form to the exporter pursuant to the provisions. Exporters subject to autonomic verification shall be governed
separately by other provisions.

Article 25

Where an exporter is unable to make normal verifications due to objective reasons, the foreign exchange administration may grant future
reference of verifications with respect to the data of receivable export proceeds that should be verified and written off.

Article 26

Where an exporter incurs any refund or compensation in foreign exchange under exports, it shall apply to the foreign exchange administration
by taking with it the certifications, and after its export proceeds actually collected are set off if no mistake is found upon examination
by the foreign exchange administration, it shall go through the formalities for purchase and payment of foreign exchange for the
refund or compensation with the bank on the strength of the “Certification of Setoff Export Proceeds/Verification” issued by the
foreign exchange administration.

Article 27

Where an exporter fails to handle the verification formalities within the prescribed time limit, it shall be brought into the administration
of those failing to make verification within the prescribed time limit, and the foreign exchange administration shall regularly urge
that exporter to make the verification hat has been defaulted. The foreign exchange administration shall punish the exporter that
fails to handle the verification formalities after being urged and without justified reasons.

Article 28

Exporters and banks shall handle the verification formalities in strict accordance with the Measures, and those violating the Measures
shall be punished by the foreign exchange administrations in accordance with the Regulations of the People’s Republic of China on
Foreign Exchange Administration and other relevant provisions.

Article 29

The power to interpret the Measures shall remain with the SAFE.

Article 30

The Measures shall take effect as of October 1, 2003. The relevant regulations listed in Attachment 2 shall be repealed at the same
time, and if any previous provisions conflict with the Measures, the latter shall prevail.

Attachment 2Catalogue of the Documents Repealed

Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange promulgated by the SAFE and
other departments in December 1990

Circular on Sorting out Old Verification Forms of Export Proceeds in Foreign Exchange (96) (HuiGuoHanZi No.055) promulgated by the
SAFE on March 5, 1996

Circular on Strict Examination of the Anti-Counterfeiting Labels of Declaration Forms of Import and Export Goods (HuiChuan [1996]
No.04) promulgated by the SAFE on March 28, 1996

Circular on the Relevant Issues Concerning Clarification of the “Twice Verification of Customs Declaration Forms of Import and Export
Goods” (96) (HuiGuoHanZi No.178) promulgated by the SAFE and the General Administration of Customs on June 27, 1996

Interim Measures on the Administration of the Payment and Verification and Writing-Off of Refund and Compensation in Foreign Exchange
under Exports promulgated by the SAFE on June 28, 1996

Circular on Further Strengthening the Administration of Verification Forms of Export Proceeds in Foreign Exchange (97) (HuiGuoHeZi
No.001) promulgated by the SAFE on January 8, 1997

Provisions on the Relevant Issues Concerning the Issuing of Special Page of Verification Form of Export Proceeds in Foreign Exchange
promulgated by the SAFE on September 29, 1997

Supplementary Provisions on the Issues Concerning the Verification and Writing-Off of Export Proceeds in Foreign Exchange promulgated
by the SAFE on September 29, 1997

Circular on the Relevant Issues Concerning the “Twice Verification” of Import and Export Declaration Forms (97) (HuiGuoHanZi No.214)
promulgated by the SAFE and the General Administration of Customs on July 28, 1997

10.

Circular on Fixing the Minimum Time for Keeping of the Original Vouchers of Verification and Writing-Off of Export Proceeds in Foreign
Exchange (98) (HuiGuoHanZi No.046) promulgated by the SAFE on February 18, 1998

11.

Circular on Further Strengthening the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange (1998)
(HuiFa No.27) promulgated by the SAFE on September 21, 1998

12.

Circular on Strengthening the Control of Verification and Writing-Off of Export Proceeds in Foreign Exchange Derived from Tourism
Purchases (2000) (HuiFa No.170) promulgated by the SAFE on December 29, 2000

13.

Circular on Distributing the Implementation Rules of the Measures for the Administration of Verification and Writing-Off of Export
Proceeds in Foreign Exchange (98) (HuiGuoFaZi No.012) promulgated by the SAFE on June 22, 1998

14.

Circular of the State Administration of Foreign Exchange on Distributing the Operational Rules for the Administration of Verification
and Writing-Off of Export Proceeds in Foreign Exchange (2002) (HuiFa No.112) promulgated by the SAFE on November 13, 2002.

The State Administration of Foreign Exchange
2003-08-19

CIRCULAR ON THE QUALIFICATION ADMINISTRATION OF FOREIGN-OWNED ENTERPRISES OPERATING CONTRACTED PROJECTS WITHIN CHINA

Ministry of Construction

Circular on the Qualification Administration of Foreign-owned Enterprises Operating Contracted Projects within China

[2003] No. 193 of the Ministry of Construction

September 28, 2003

The construction departments of every province and autonomous region, the construction commissions of the municipalities directly
under the Central Government, the construction administration bureaus of Shandong and Jiangsu Provinces, the construction departments
of the relevant departments of the State Council, the Engineering Bureau of the Barracks Section of the General Logistics Department
of the PLA:

Article 26 of the Rules for the Administration of Foreign-funded Construction Enterprises (Order of the Ministry of Construction
and Ministry of Foreign Trade and Economic Cooperation No. 113) ordains: “the Interim Measures for the Qualification Administration
of Foreign-funded Enterprises Operating Contracted Projects within China (Order of the Ministry of Construction No. 32) issued by
the Ministry of Construction in 1994 shall be abolished as of October 1, 2003”. In the meanwhile, under Rules for the Administration
of Foreign-funded Construction Enterprises, no foreign-owned enterprises may contract projects after October 1, 2003 until it acquired
the construction enterprise qualification certificate. Because of SARS in the first half of this year, the work related to the foundation
and the qualification application of the foreign-owned construction enterprises was affected. For the work to go on smoothly, we
hereby announce the following:

Where a foreign enterprise has obtained the Qualification Certificate for Foreign-owned Enterprises to Contract Projects, but failed
to obtain the Foreign-funded Construction Enterprise Qualification Certificate before October 1, 2003, may apply for an extension
of its qualification certificate or an expansion of geographic scope of the contracted projects on the basis of the contracts it
has concluded prior to April 1, 2004.

The foreign-owned enterprises that meet the requirements as mentioned in the preceding paragraph may apply for the extension of their
respective qualification certificates or for the expansion of geographic scope of the contracted projects prior to April 1, 2004.
The applications shall be subject to the preliminary examination of the administrative departments for construction of all provinces,
autonomous regions and the municipalities directly under the jurisdiction of the central government, and all of the applications
approved in the preliminary examination shall be submitted to the Ministry of Construction for approval.

Foreign investors in the enterprises that have acquired the Foreign-funded Construction Enterprise Qualification Certificate in accordance
with the relevant provisions of the No. 133 Order of the Ministry of Construction and the Ministry of Foreign Trade and Economic
Cooperation are not permitted to continue to contract projects within China by acting as a foreign investor with the Qualification
Certificate of Foreign Enterprises to Contract Projects. At the time of issuing the Foreign-funded Construction Enterprise Qualification
Certificate, the administrative departments for construction of all provinces, autonomous regions, and municipalities directly under
the jurisdiction of the central government shall take back the Foreign-funded Construction Enterprise Qualification Certificate.

The administrative departments for construction of all provinces, autonomous regions and municipalities directly under the jurisdiction
of the central government shall, according to the requirements mentioned above, strengthen the administration work related to the
qualification applications of foreign enterprises, and in the meanwhile, make great effort to collect all the information on the
implementation of the Interim Measures for the Qualification Administration of Foreign Enterprises Contracting Projects within China
(Order of the Ministry of Construction, No. 32) (For specific requirements, See the Attachment) and shall submit the Information
Summary Form for Foreign Enterprises Operating Contracted Projects within China to the Construction Market Management Department
of this Ministry before April 1, 2004.

The enterprises of Hong Kong, Macao and Taiwan that may operate contracted projects within Mainland China shall refer to the statements
above.

Annex: Information Summary Form for Foreign Enterprises Operating Contracted Projects Within China

htm/e03243.htm

Attachment:

Information Summary Form for Foreign Enterprises Contracting Projects Within China

(1994-2004)

Province or Municipality directly under the Central Government or Autonomous Regions:

Serial Number	Enterprise Name	Country or Region	Main Profession of the Contracted	Projects Contact Person	Telephone	Notes

PROVISIONS ON THE INVESTIGATION OF INDUSTRY INJURY UNDER SAFEGUARD MEASURES

Ministry of Commerce

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

No.5

Provisions on the Antidumping Investigation of Industry Injury, Provisions on the Countervailing Investigation of Industry Injury,
Provisions on the Investigation of Industry Injury under Safeguard Measures which have been reviewed and passed by the 5th executive
meeting of the Ministry of Commerce on September 29, 2003, are hereby issued and shall be put into effect after 30 days.

Lv Fuyuan, the minister of commerce

October 17, 2003

Provisions on the Investigation of Industry Injury under Safeguard Measures

Chapter I. General Provisions

Article 1

The present Provisions are formulated in the light of the Regulation on the Safeguard Measures of the People’s Republic of China (hereinafter
referred to as the Regulation on the Safeguard Measures) in order to regulate the industry injury investigations under safeguard
measures.

Article 2

The present Provisions shall apply to the activities related to the industry injury investigations under safeguard measures in the
light of the Regulation on the Safeguard Measures.

Article 3

The Ministry of Commerce of the People’s Republic of China (MOFCOM) shall take charge of the industry injury investigations under
safeguard measures.

As for the industry injury investigations under safeguard measures related to agricultural products, the responsibility shall be jointly
conducted by the MOFCOM and the Ministry of Agriculture.

Chapter II. Determination of Injury

Article 4

The term “industry injury” refers to a serious injury or a risk of serious injury induced by the increase of imported products to
the domestic industry that produces like products or directly competitive products.

A serious injury refers to overall and serious impairment to the domestic industry.

A serious injury risk refers to a serious injury that is clearly imminent unless measures are taken against it.

Article 5

In the determination of a serious injury or a risk of serious injury caused to the domestic industry by increased imports, the following
elements shall be considered:

(1)

The increase of import products, including the absolute and relative increase rate and increase amount of imports;

(2)

The share of the domestic market taken by the increased imports;

(3)

The influence of the increased imports on the domestic industry, including the impact on the domestic industry in terms of output,
sales, market share, productivity, equipment utilization rate, profits and losses, employment, etc.;

(4)

Other elements that cause injury to the domestic industry.

The determination of a risk of serious injury shall be made on the basis of the facts, by the means of examining the productivity
, storage, export capacity, the possibility of the continuous increase of exports to China of the export country and other elements,
rather than merely on the complaints, the conjectures or the least possibility.

Article 6

In the determination of the impact of the increase of import products on the domestic industry, the MOFCOM shall, on the basis of
the ascertained evidence, objectively and comprehensively evaluate various quantifiable indicators that affect the status of the
domestic industry rather than simply based on several indicators.

Article 7

The term ” like products” refers to the same products as the imported products under investigation; if not the same, the products
whose nature is most similar to that of the imported products under investigation.

The term “directly competitive products” refers to the domestic products not identical to the imported products under investigation,
but similar to them in use, and are substantially substitutable and thus directly compete with the imported products under investigation.

Article 8

In the determination of like products and directly competitive products, there are some factors that shall be taken into account,
including the physical characteristics of the products, chemical performance, manufacturing equipment and techniques, purposes of
use, substitutability, appraisal of consumers and producers, distribution channels, and price, etc.

Article 9

In the process of the industry injury investigation, the MOFCOM shall give users or consumers of imported products an opportunity
to present their views and evidences.

Article 10

The period subject to industry injury investigation shall generally be 3 – 5 years before the investigation commences.

Chapter III. Industry Injury Investigation

Article 11

When any interested party intends to take part in the investigation of an industry injury under safeguard measures, it shall submit
an application to the MOFCOM within 20 days from the day when an announcement on the industry injury investigation for taking safeguard
measures is made, and shall carry out relevant registration formalities. At the same time, it may present its views and arguments
about the industry injury under investigation and offer corresponding proofs.

Article 12

The interested parties may be:

(1)

Overseas producers, export business operators, and domestic import business operators of the products under investigation, or guilds
or other organizations of the producers, export business operators and import business operators of the products under investigation;

(2)

The government of the country (region) of origin and the export country (region) of the products under investigation as well as the
representatives thereof;

(3)

The producers and business operators of domestic like products, or guilds or other organizations of the producers and business operators
of the products; or

(4)

others.

Article 13

In the case that an interested party takes part in the investigation, he shall present his identification certificate. If the interested
party is an enterprise or any other organization, it shall present its business license and other registration certificates, and
the identification certificate of the legal representative.

In the case that an interested party entrusts an agent to take part in the investigation, it shall present identification certificate
of the agent and a power of attorney. In the case that an interested party entrusts a lawyer as his agent, the lawyer shall come
from a law firm in China and shall practice law in China, and a power of attorney, the business license of the law firm and the law-practice
certification of the lawyer shall be submitted.

Article 14

The objects of the MOFCOM’s industry injury investigation for taking safeguard measures include domestic producers, domestic import
business operators, domestic purchasers, domestic end consumers, overseas export business operators and overseas producers, etc.

Article 15

The MOFCOM may, whenever necessary, hire experts in the fields of the relevant industry, accounting, economic and trade and law to
provide advisory services it. The experts involved shall keep the secrets to themselves.

Article 16

The MOFCOM shall take a lot of means to conduct an industry injury investigation, including questionnaires, sampling, hearing, technical
authentication, on-the-spot investigations and other forms.

Article 17

The questionnaires sent by the MOFCOM to the interested parties takes a lot forms, including domestic producer questionnaires, domestic
importer questionnaires, domestic consumer questionnaires, overseas producer and overseas exporter questionnaires, and other types
of questionnaires.

Article 18

The answers to the questionnaires shall be submitted by the interested party according to the method and time limit as specified in
the questionnaires. If there is a need needs to extend the time limit, it shall, 7 days prior to the time limit for the submission
of answers, submit a written application to the MOFCOM and make an explanation. It is for the MOFCOM to decide whether to extend
the time limit or not.

Article 19

The MOFCOM may conduct on-the-spot investigations to the interested parties. Prior to the on-the-spot investigation, it shall notify
the relevant interested parties of the main purposes and content of the examination beforehand.

Article 20

As requested by the interested parties or in need of the investigation, the MOFCOM may, upon the approval of the relevant country
(region), send persons to this country (region) to conduct investigations on the productivity, investments in expanding production,
storage, place of origin or entrepot, the affiliation among the enterprises and other information related to the product.

Article 21

The MOFCOM may request the interested parties to submit or supplement written materials in the light of the relevant requirements,
and the interested parties may voluntarily submit written materials to the MOFCOM as well.

Article 22

As requested by the interested parties, or whenever the MOFCOM considers necessary, a hearing of industry injury may be held.

Article 23

In the case that an interested party who takes part in the industry injury investigation considers it necessary to keep the materials
and the relevant evidence secret, it shall, when submitting the materials to the MOFCOM, offer simultaneously a non-confidential
summary of the materials, or submit confidential texts and open texts of the materials.

Article 24

If any interested party who takes part in the industry injury investigation fails to offer non-confidential summary or open texts
of the materials submitted by it, or fails to present good reasons, the MOFCOM may refuse to consider the materials. If the MOFCOM
does not consider it necessary to keep the materials submitted by an interested party secret, it may request the interested party
to withdraw its application for keeping secrets.

Article 25

During the process of industry injury investigation, any interested party subject to the industry injury investigation shall faithfully
present the information and offer relevant materials. In the case that any interested party fails to do so, or fails to provide necessary
information within a reasonable time limit, or seriously intervene the investigation by any other means, the MOFCOM may make a judgment
on the basis of the facts it has already obtained and the best information available.

Chapter IV. Supplementary Provisions

Article 26

When an interested party, who takes part in the industry injury investigation, offers any document or evidential material to the MOFCOM,
it shall submit the original Chinese text in quintuplicate accompanied by relevant electronic text (computer floppy disks or CDs)
in triplicate.

Article 27

In the industry injury investigation, the standard Chinese prescribed by the administrative department of languages of the state shall
be taken by the MOFCOM as the formal language. Any document, materials or information offered by an interested party shall be written
in standard Chinese. As for any non-Chinese materials, a Chinese version and the original text shall be submitted, and the Chinese
version shall prevail. Any non-Chinese materials without attaching a Chinese translation shall not be considered as valid and lawful
evidential material.

Article 28

The authority to interpret the present Provisions shall remain with the MOFCOM.

Article 29

The present Provisions shall go into effect 30 days after promulgation. And at the same time , the Provisions on Safeguards Investigation
and Ruling of Industry Injury (Order No. 47 (2002) of the former State Economic and Trade Commission shall be abolished.

Ministry of Commerce
2003-10-17

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON IMPORT AND EXPORT DUTIES

e00089,e01673

The State Council

Order of the State Council of the People’s Republic of China

No. 392

The Regulations of the People’s Republic of China on Import and Export Duties, which were adopted at the 26th executive meeting of
the State Council on October 29th, 2003, are hereby promulgated and shall come into force as of January 1st, 2004.

Wen Jiabao, Premier of the State Council

November 23rd, 2004

Regulations of the People’s Republic of China on Import and Export Duties

Chapter I General Provisions

Article 1

With a view to implementing the policy of opening to the outside world, promoting the development of foreign economic relations and
trade as well as the national economy, the present Regulations are formulated in accordance with the Customs Law of the People’s
Republic of China (hereinafter referred to as the Customs Law).

Article 2

All goods permitted to be imported into or exported out of and all articles allowed to enter into the People’s Republic of China shall,
unless otherwise provided for by the State Council, be subject to payment of customs duties on imports or exports according to the
present Regulations.

Article 3

The tariff items, tariff nomenclature heading numbers and tariff rates as prescribed in the Customs Import and Export Tariffs of the
People’s Republic of China (hereinafter referred to as the Tariffs) and the Import Tariff Rates of the People’s Republic of China
for Entry Articles (hereinafter referred to as the Import Tariff Rates for Entry Articles) which are formulated by the State Council
shall form an integral part of the present Regulations.

Article 4

The Customs Tariff Commission shall be established by the State Council. The Customs Tariff Commission shall be responsible for readjusting
and interpreting tariff items, tariff nomenclature heading numbers and tariff rates in the Tariffs and the Import Tariff Rates for
Entry Articles, which shall take effect upon the approval of the State Council; it makes decisions on the goods subject to temporary
tariff rates, the tariff rates and time limit; it makes decisions on the rate of tariff quota, the imposition of antidumping duties,
countervailing duties, duty under safeguard measures, retaliatory duties; makes decisions on the implementation of other measures
in relation to customs duties and the application of tariff rates under special circumstances, and exercises the other functions
as provided for by the State Council.

Article 5

The consignees of imported goods, the consignors of exported goods and the owners of entry articles are obligatory customs duty payers.

Article 6

The customs and the functionaries shall, according to the statutory powers and legal procedures, exercise their functions of collecting
the customs duties, safeguard the interests of the state, protect the legitimate rights and interests of the customs duty payers,
and accept supervision pursuant to law.

Article 7

Any customs duty payer shall have the right to request the customs office to keep its commercial secrets to itself, and the customs
shall do so pursuant to law.

Article 8

According to relevant regulation, the customs shall award the entities and individuals who disclose or help to find the acts in violation
of the present Regulations.

Chapter II Establishment and Application of Tariff Rates for Import and Export Goods

Article 9

Import tariffs cover the most-favored-nation tariff rate, conventional tariff rate, preferential tariff, general tariff rate and quota
tariff rate, etc. Temporary tariff rates may be applied to import goods within a certain time limit.

Export tariff rates are set up in export duties. Temporary tariff rates may be applicable to export goods within a certain time period.

Article 10

The most-favored-nation tariff rate shall be applied to the import goods whose place of origin is a member of the WTO, to whom the
clause of the most-favored-nation is commonly applied, and the import goods whose place of origin is a country or region that has
established with the People’s Republic of China a bilateral trade agreement that contains clauses reciprocal most-favored-nation
treatment, and the import goods whose place of origin is within the territory of the Peoples Republic of China.

The conventional tariff rate shall be applied to the import goods whose place of origin is a country or region that has concluded
with the People’s Republic of China a trade agreement that contains clauses of preferential duty.

The special tariff rate shall be applied to the import goods whose place of origin is a country or region that has concluded with
the People’s Republic of China a trade agreement that contains clauses of special preferential duty.

The general tariff rate shall be applied to the import goods except those as listed in Paragraphs 1 through 3 of this Article and
the import goods whose place of origin is unknown.

Article 11

Where a temporary tariff rate is set up for the import goods, to which the most-favored-nation tariff rate applies, the temporary
tariff rate shall prevail. With regard to the import goods to which the conventional tariff rate or the preferential tariff rate
applies, the lower one shall prevail. As for the import goods to which the general tariff rate applies, the temporary tariff rate
shall not apply.

Where a temporary tariff rate is set up for the export goods, to which the export tariff rate applies, the temporary tariff rate shall
prevail.

Article 12

As for the import goods subject to tariff quota management according to the provisions of the state, for those within the tariff quota,
the quota tariff rate shall be applied; and for those beyond the tariff quota, the applicable tariff rates shall be carried out in
accordance with Articles 10 and 11 of the present Regulations.

Article 13

As for the import goods, against which antidumping, countervailing or safeguard measure are taken according to relevant laws and administrative
regulations, the applicable rates shall be carried out in accordance with the Antidumping Regulations of the People’s Republic of
China, the Countervailing Regulations of the People’s Republic of China and the Regulations on Safeguard Measures of the People’s
Republic of China.

Article 14

As for a country or region that prohibits, limits, imposes additional duties or takes any other measures that affect the normal trade
with the People’s Republic of China in violation of the trade agreement or relevant convention concluded with the People’s Republic
of China or both parties have joined, a retaliatory duty may imposed on the import goods whose place of origin is the country or
region, and the retaliatory duty rate shall be applied.

The goods, applicable countries or regions, duty rates, time limits and collection measures shall be determined and announced by the
Customs Tariff Commission.

Article 15

As for the import and export goods, the valid tariff rate of the day when the customs accepts the import declaration or export declaration
shall be applied.

Where an import declaration is filed before the import goods arrives upon the approval of the customs, the valid tariff rate of the
day when an entry declaration is filed for the means of transportation that carries the goods shall be applied.

The date of the application of the tariff rate for transit goods shall be separately provided by the Customs General Administration.

Article 16

When it is required to pay duties under any of the following circumstances, the tariff rate of the day when the customs accepts the
declaration and handles the formalities for the payment of duties shall be applied:

(1)

Where, upon approval, the bonded goods are not to be re-carried out of China;

(2)

Where the goods that enjoy exemption or reduction of duties are transferred to others or whose purpose of use is changed upon approval;

(3)

Where, upon approval, the goods that are allowed to enter into China temporarily are not to be re-carried out of China and where,
upon approval, the goods that are permitted to exit China temporarily are not to be re-carried into China;

(4)

Where the import goods are leased and the duties are paid by installments.

Article 17

The applicable tariff rates for the makeup or refund of import or export duties shall be determined according to Article 15 or Article
16 of the present Regulations.

Where an obligatory duty payer is required to pay a duty due to violation of the present Regulations, the tariff rate of the day when
the violation occurs shall be applied. If it is unable to determine the exact day when the violation arises, the tariff rate of the
day when the customs discovers the violation shall be applied.

Chapter III Determination of Dutiable Value for Import and Export Goods

Article 18

The dutiable value for import goods shall be examined and determined by the customs on the basis of the transaction value in accordance
with the requirements as prescribed in the Paragraph 3 of this Article, and the freight, the associated expenses and the insurance
premiums incurred prior to the arrival and unloading of the goods at the destination within the People’s Republic of China.

The term “transaction value of import goods” means the actual total amount of the price, covering the direct payments and indirect
payments, that the buyer within the territory of the People’s Republic of China shall pay the seller for the goods after readjustments
have been made according to Articles 19 and 20 of the present Regulations.

A transaction value of import goods shall meet the following conditions:

(1)

There is no limitation to the disposal and use of the buyer except for the limitations as prescribed in the laws and administrative
regulations, the geographic limitation on the resale of goods and those without material impact on the price of goods;

(2)

It isn’t unable to determine the transaction value of the goods because of tied sale or other factors;

(3)

The seller shall not directly or indirectly get any yields from the resale, disposal or use of the goods after import, or the seller
may have some yields, but adjustments may be made according to Article 19 or 20 of the present Regulations.

(4)

There is no special relationship between the buyer and seller, or although there is any, it does not affect the transaction value.

Article 19

The following expenses on import goods shall be included into the dutiable value:

(1)

The commission and brokerage other than the commission on the purchase of goods that shall be paid by the buyer;

(2)

The expenses that shall be paid by the buyer for the containers that are considered as an integrated part of the goods when the dutiable
value is examined and determined;

(3)

The expenses for packing materials and packing labor shall be paid by the buyer;

(4)

The value of the materials, tools, moulds, consumable materials and like goods that are related to the production of the goods and
the sale within the territory of the People’s Republic of China and that are provided by the buyer gratuitously or at a price lower
than the costs and may be apportioned in accordance with a reasonable rate, and the expenses of relevant expenses such as the development
and design outside China, etc.;

(5)

The franchise royalties in relation to the goods that shall be paid by the buyer as a precondition for the sale of goods within the
territory of the People’s Republic of China;

(6)

The yields directly or indirectly obtained by the seller from the resale, disposal or use of the goods after import.

Article 20

The following duties, taxes, and expenses specified in the price of the goods in the process of import shall not be included into
the dutiable value of the goods hereof:

(1)

The expenses of construction, installation, assembly, maintenance and technical services after importing such goods as workshops,
machines, and equipments, etc.;

(2)

The freight and related expenses and insurance premiums after the arrival and unloading of the import goods at the destination within
the People’s Republic of China;

(3)

Import duties and domestic taxes.

Article 21

Where the transaction value of the import goods doesn’t meet the requirements as prescribed in Paragraph 3 of Article 18 of the present
Regulations, or the transaction value is unable to be determined, the customs shall assess the dutiable value of the goods according
to the following values arranged in descending order of precedence after it has learnt of relevant information and negotiated with
the obligatory duty payer about the price:

(1)

The transaction price of the identical goods sold to a buyer within the territory of the People’s Republic of China at the same time
or nearly at the same time;

(2)

The transaction price of the like goods sold to a buyer within the territory of the People’s Republic of China at the same time or
nearly at the same time;

(3)

At the same time or nearly at the same time when the goods is imported, the unit price of the import goods, the identical or like
import goods in the maximal quantity sold to the buyer without special relationship in the first link of distribution, in which the
items as listed in Article 22 of the present Regulations shall be deducted;

(4)

The price calculated according to the summation of the items, including the costs of the materials in producing the goods, and the
processing expenses, the general profit and the general expenses in selling goods of the same grade or like goods to a buyer within
the territory of the People’s Republic of China, the freight, the associated expenses and the insurance premiums incurred prior to
the arrival and unloading of the goods at the destination within the territory of the People’s Republic of China;

(5)

The price assessed by any other reasonable method.

After the obligatory duty payer has submitted relevant materials to the customs, it may apply to the customs for reversing the applicable
order of precedence between Items 3 and 4 of the preceding paragraph.

Article 22

With regard to the dutiable value assessed in accordance with the Item 3 of Paragraph 1 of Article 21 of the present Regulations,
the items that shall be deducted refer to:

(1)

The general profit, expenses and commission of the first link of distribution of the goods of identical grade or like goods sold to
the buyers within the territory of the People’s Republic of China;

(2)

The freight, the associated expenses and the insurance premiums after the arrival and unloading of the import goods at the destination
within the territory of the People’s Republic of China;

(3)

Import duties and domestic taxes.

Article 23

As for the goods imported by means of lease, the rent of the goods as verified and determined by the customs shall be the dutiable
value.

The obligatory duty payer, who requests to pay the duty in a lump sum, may choose to have the dutiable value assessed according to
Article 21 of the present Regulations or to deem the total amount of rent as verified and determined by the customs as the dutiable
value.

Article 24

As for the goods carried abroad for processing, in case they are declared to the customs and re-carried into China within the time
limit as specified by the customs, the dutiable value shall be verified and determined on the basis of the overseas processing fees,
the costs of the spare parts and raw materials used, and the freight, the associated expenses and the insurance premiums for re-carrying
the goods into China.

Article 25

As for the machines, tools, means of transportation or any other goods carried abroad for maintenance, in case they are declared to
the customs and re-carried into China within the time limit as specified by the customs, the dutiable value shall be verified and
determined on the basis of the overseas maintenance fees and the costs of the spare parts and raw materials used.

Article 26

The dutiable value of export goods shall be examined and determined by the customs on the basis of the transaction value of the goods,
and the freight, the associated fees and insurance premiums incurred prior to the arrival and unloading of the goods at the destination
within the territory of the People’s Republic of China.

The transaction value of export goods refers to the total amount of the price that shall be directly or indirectly paid by the buyer
to the seller for the export goods.

Export duties shall not be included into the dutiable value.

Article 27

Where the transaction value of the export goods is unable to be determined, the customs shall assess the dutiable value of the goods
according to the following prices arranged in descending of precedence after it has learnt of relevant information and negotiated
with the obligatory duty payer about the price:

(1)

The transaction price of the identical goods exported to the same country or region at the same time or nearly at the same time;

(2)

The transaction price of the like goods exported to the same country or region at the same time or nearly at the same time;

(3)

The price calculated in accordance with the summation of the items, including the domestic costs of the materials in producing the
identical or like goods and the processing expenses, the general profit and the general expenses, and the freight, associated expenses
and insurance premiums incurred within China;

(4)

The price assessed by any other reasonable method.

Article 28

The costs, expenses, duties and taxes that are included into or excluded from the dutiable value according to the present Regulations
shall be based on objective and quantifiable data.

Chapter IV The Collection of Import and Export Duties

Article 29

An obligatory duty payer of import goods shall, within 14 days as of the day when the means of carriage declares for entry, submit
a declaration to the customs office of the place of entry. An obligatory duty payer of export goods shall, unless approved otherwise
by the customs office, submit a declaration to the customs office of the place of exit after the goods arrive at the administrative
area of the customs but 24 hours prior to the loading of goods. With regard to the transit import and export goods, the regulations
of the Customs General Administration shall be implemented.

Prior to the arrival of the import goods, the obligatory duty payer may submit a declaration in advance upon approval of the customs.
The specific measures shall be separately formulated by the Customs General Administration.

Article 30

An obligatory duty payer shall, according to the law, faithfully file a declaration to the customs and provide the materials required
for determining the dutiable value, classifying the commodities, determining the place of origin and taking antidumping, countervailing
or safeguard measures. If necessary, the customs may demand the obligatory duty payer to make supplementary declarations.

Article 31

An obligatory duty payer shall, according to the table of contents, stipulations, the general principle of classification, category
notes, chapter notes, subheading notes and any other classification notes, classify the import or export goods that it declares,
and put them under the corresponding tariff nomenclature heading numbers. The customs shall examine and determine the commodity classification
of the goods pursuant to law.

Article 32

The customs may demand an obligatory duty payer to offer relevant materials required for determining the classification of the commodities.
If necessary, the customs may organize laboratory tests and inspections, and take the results of test and inspection as the basis
of determining the classification of the commodities.

Article 33

For the purpose of examining the authenticity and exactness of the declared value, the customs may inquire into and copy the contracts,
invoices, account books, evidences of settlement and payment vouchers, instruments, business letters and telephones, audio-visual
products and other materials reflecting the relationship between the buyer and seller and the transactions involved.

Where the customs is doubtful about the declared value of an obligatory duty payer and if the amount of the duty involved is quite
large, the customs may, upon the approval of the director of the customs directly under the Customs General Administration or of
the authorized director of its subordinate customs, inquire into the fund flow reflected in the accounts opened by the obligatory
duty payer in the banks or any other financial institutions on the strength of the assistance inquiry account notice in a uniform
format of the Customs General Administration and the employees’ cards of the relevant functionaries, and shall inform the banking
regulatory institutions of the relevant information.

Article 34

The customs office, that is doubtful about the price declared by an obligatory duty payer, shall notify the obligatory duty payer
the reasons in writing, and demand it to make written explanations or provide relevant materials within a prescribed time limit.

In case the obligatory duty payer fails to make any explanation or provide relevant materials within the specified time limit, or
it is still reasonable for the customs to be doubtful about the authenticity and exactness of the declared value, the customs may
refuse to accept the value as declared by the obligatory duty payer, and may assess the dutiable value according to Chapter III of
the present Regulations.

Article 35

After the customs has examined and determined the dutiable value of the import or export goods, the obligatory duty payer may request
the customs, in writing, to make written explanations about how to determine the dutiable value of the import or export goods. The
customs shall make explanations in writing to the obligatory duty payer.

Article 36

The import and export duties may be collected by ad valorem or by quantity or by any other means as provided by the state.

If collected by ad valorem, the formula is: Payable Duties = Dutiable Value Tariff Rate

If collected by quantity, the formula is: Payable Duties = Quantity of Goods Unit Duty Value

Article 37

An obligatory duty payer shall pay the duties in the designated bank within 15 days as of the day when the customs fills in and issues
a duty payment form. In case it fails to pay the duties within the time limit, it shall pay a late fee of 0.05% of the amount of
the defaulted duties per day as of the day when the duties are in default.

The customs may make an announcement about the information of the obligatory duty payers who default the duties.

The customs shall issue receipts when collecting customs duties and late fees. The formats of the receipts shall be formulated by
the Customs General Administration.

Article 38

The customs duties and late fees shall be calculated and collected in terms of RMB.

Where the transaction value of import or export goods and the associated expenses are calculated in terms of a foreign currency, the
dutiable value shall be calculated by converting the transaction value and the associated expenses into RMB in accordance with the
basic exchange rate announced by the People’s Bank of China. Where the transaction value of import or export goods and the associated
expenses are calculated in terms of a foreign currency beyond the scope of foreign currencies of basic exchange rate, the dutiable
value shall be calculated by converting them into RMB according to relevant regulation of the state. The date of the applicable exchange
rate shall be provided by the Customs General Administration.

Article 39

Where an obligatory duty payer fails to pay the duties because of force majeure or the change of duty policies of the state, it may,
upon approval of the Customs General Administration, extend the time limit for the payment of the duties, but the extended period
shall not exceed 6 months.

Article 40

Where any clear evidence shows that an obligatory duty payer of import or export goods transfers or conceals the dutiable goods or
other properties during the time period for paying duties, the customs may order the obligatory duty payer to provide a guaranty.
Where the obligatory duty payer fails to provide a guaranty, the customs may take duty preservation measures according to Article
61 of the Customs Law of the People’s Republic of China.

In case the obligatory duty payer or the guarantor still fails to pay the duties 3 months after the expiration of time limit for paying
the duties, the customs may take mandatory measures according to Article 60 of the Customs Law.

Article 41

As for the materials imported for processing trade, if they are imported under the provisions of the state on bonded imports, and
in case the finished products or the import materials fail to be exported within the specified time limit, the customs shall collect
import duties according to relevant provisions.

Where import duties are paid for the materials imported for processing trade when they enter into the territory of China according
to the provisions of the state, and the finished products or the import materials are exported within the specified time limit, the
customs shall refund the duties collected on entry.

Article 42

Any of the following goods permitted to enter or exit China temporarily by the customs, in case the obligatory duty payer shall pay
the customs office a sum of caution money equivalent to the value of the duties payable or provides other guaranty, it may be allowed
not to pay the duties for the time being, but shall re-carry the goods into or out of China within 6 months as of the day of entry
or exit. Upon the application of the obligatory duty payer, the customs may extend the time limit for re-carrying the goods out of
or into China according to the provisions of the Customs General Administration.

(1)

The goods exhibited or used in exhibitions, trade fairs, meetings and other similar activities;

(2)

The articles used in performances or competitions in cultural or sports exchange activities;

(3)

The instruments, equipment and articles used in making news reports or in producing films or TV programs;

(4)

The instruments, equipment and articles used in scientific research, teaching or medical activities;

(5)

The means of transport and special vehicles used in the activities as listed in Paragraphs 1 – 4 of this Article;

(6)

The samples of goods;

(7)

The instruments and tools used in installing, trial running and testing equipment;

(8)

The containers of the goods; and

(9)

Other goods used for non-commercial purposes.

Where the goods permitted to enter China temporarily as listed in Paragraph 1 aren’t re-carried out of China within the specified
time limit, or the goods permitted to exit China temporarily aren’t re-carried into China within the specified time limit, the customs
shall collect duties pursuant to law.

As for other goods permitted to enter China temporarily which are beyond the scope of good exempted from customs duties for the time
being as listed in Paragraph 1, the duties on the goods shall be calculated and collected in accordance with the dutiable value and
the ratio between the time when the goods stay in China and the depreciation time. The specific measures shall be formulated by the
Customs General Administration.

Article 43

Where, because of quality or specifications reasons, any of the export goods is re-carried into China in its original form within
1 year as of the day when they were exported, it is not subject to import duties.

Where, because of quality or specifications reasons, any of the export goods is re-carried out of China in its original form within
1 year as of the day when they were imported, it is not subject to export duties.

Article 44

As for the goods compensated without further charge or the identical goods gratuitously replaced by the consigner of the import or
export goods, the carrier or the insurance company because of damage, shortage, poor quality or incompatible specifications, no duty
shall be collected when they are imported or exported. With regard to the gratuitously replaced original import goods that are not
to be re-carried outside China or the original export goods that are not to be re-carried into China, the customs shall impose duties
on the original import or export goods in accordance with the relevant provisions.

Article 45

The following import and export goods are duty-free:

(1)

Where the customs duty of goods under a single invoice is not more than RMB 50;

(2)

The articles that are for advertising purposes or to be used as samples and therefore of no commercial value;

(3)

The materials gratuitously donated by foreign governments or international organizations;

(4)

The goods damaged prior to the customs clearance;

(5)

The fuel, materials, food and drinks necessary for the journey and carried by the means of transport that enter into or exit China;

As for the goods damaged prior to the customs clearance, the duties may be reduced on the basis of the seriousness of the damages
as determined by the customs.

As for other goods exempt from duties or at reduced duties as provided for in law, the customs shall exempt them from duties or reduce
the duties according to relevant provisions.

Article 46

As for the reduction or exemption of duties and the temporary reduction or temporary exemption of duties on the import goods or export
goods of special areas, special enterprises or specified purposes, the relevant provisions of the State Council shall be implemented.

Article 47

As for the reduction or the exemption of import link taxes levied by the customs on the import goods, the provisions of relevant laws
and administrative regulations shall be implemented.

Article 48

As for the import or export goods exempt from duties or at reduced duties, the obligatory duty payer shall, unless otherwise provided
for, handle the duty exemption or reduction formalities for examination and approval at the customs on the strength of relevant documents
according to the provisions before the goods are imported or exported.

Article 49

As for the duty-exempted or duty-reduced import goods whose use is subject to the supervision of the customs, if they are transferred
or if their purposes of use are changed within the term of supervision and thus it is necessary to make up the duties, the customs
shall depreciate and assess the duties in accordance with the import time, and make up the import tariffs.

The term of supervision for the special duty-exempted or duty-reduced import goods shall be provided by the Customs General Administration.

Article 50

Under any of the following circumstances, an obligatory duty payer may apply for the refund of

NOTICE OF THE MINISTRY OF CIVIL AFFAIRS ON THE ISSUES CONCERNING THE REGISTRATION OF SINO-FOREIGN COOPERATIVE EDUCATIONAL INSTITUTIONS

Ministry of Civil Affairs

Notice of the Ministry of Civil Affairs on the Issues concerning the Registration of Sino-foreign Cooperative Educational Institutions

Ministry of Civil Affairs

December 12, 2003

The departments (bureaus) of civil affairs of all provinces, autonomous regions and municipalities directly under the jurisdiction
of the Central Government, the bureaus of civil affairs of the cities directly under state planning and the Bureau of Civil Affairs
of Xinjiang Production and Construction Corps:

The Regulations of the People’s Republic of China on Chinese-foreign Cooperative Education promulgated by the State Council (hereinafter
referred to as the Regulations) have come into force on September 1 of this year. In order to regulate the administration on the
registration of Sino-foreign cooperative educational institutions, we inform you of the relevant issues as follows:

The Sino-foreign cooperative educational institutions that apply for being registered as private non-enterprise entities may, after
obtaining the licenses of Sino-foreign cooperative education, be registered as private non-enterprise entities in the light with
Article 20 of the Regulations and Article 12 of the Interim Regulations on the Administration of Registration of Private Non-enterprise
Entities.

II.

The application for being registered as a private non-enterprise entity submitted by a Sino-foreign cooperative institution shall
be handled by the department of civil affairs of the same level as the administrative department of education of the government and
the administrative department of labor of the government that have issued the license of Sino-foreign cooperative education. If the
license of Sino-foreign cooperative education is issued by the people’s government of a province, autonomous region or municipality
directly under the jurisdiction of the Central Government upon examination and approval, the application shall be handled by the
department of civil affairs of the people’s government of the province, autonomous region and municipality directly under the jurisdiction
of the Central Government.

III.

In the case that a Sino-foreign cooperative institution applies for being registered as a private non-enterprise entity, the fund,
the practicality, the intellectual property and other properties shall be regarded as non-state-owned assets. The share of non-state-owned
capital and assets in the registered capital contributions shall not be less than two thirds of the total capital and assets.

IV.

A Sino-foreign cooperative education institution that applies for being registered as a private enterprise entity shall use the Private
Non-enterprise Entity (juridical person) Registration Certificate. According to the Regulations, the Private Non-enterprise Entity
(Partnership) Registration Certificate may be used for establishing Sino-foreign cooperative institutions without juridical person
qualification.

In the case that any educational institutions in Hong Kong Special Administrative Region, Macao Special Administrative Region and
Taiwan cooperate with the educational institutions in the Mainland of China, the provisions mentioned above shall be referred to.

In view of the strict policy and difficulties of Sino-foreign cooperative education, the administration shall be strengthened practically
in handling the applications for being registered as private non-enterprise entities filed by Sino-foreign cooperative educational
institutions. Any new circumstance and problems occurring at the work shall be reported to the department of the administration of
non-governmental organizations of the Ministry of Civil Affairs so as to be solved in time.

Ministry of Civil Affairs
2003-12-12

PROVISIONS OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA ON EXECUTING THE RULES OF ORIGIN FOR TRADE IN GOODS UNDER THE MAINLAND/MACAO CLOSER ECONOMIC PARTNERSHIP ARRANGEMENT

Customs General Administration

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

No.107

The Provisions of the Customs of the People’s Republic of China on Executing the Rules of Origin for Trade in Goods under the Mainland
and Macao Closer Economic Partnership Arrangement, which were deliberated and adopted at the executive meeting of this Administration
on December 24th, 2003, are hereby promulgated and shall be implemented as of January 1st, 2004.

Mou Xinsheng, Director of the Customs General

December 30th, 2003

Provisions of the Customs of the People’s Republic of China on Executing the Rules of Origin for Trade in Goods under the Mainland/Macao
Closer Economic Partnership Arrangement

Article 1

In order to promote the economic and trade activities between the mainland and Macao, and to correctly determine the origin of the
imported goods under the Mainland and Macao Closer Economic Partnership Arrangement (hereinafter referred to as CEPA), the present
Provisions are formulated in accordance with the Customs Law and the CEPA.

Article 2

The present Provisions shall be applied to the goods imported from Macao under the CEPA (see the Customs Import and Export Tariff
of the People’s Republic of China for details of the list of goods), however, the goods imported by the way of processing trade shall
be excluded.

Article 3

With respect to any goods directly imported from Macao under the CEPA, the origin thereof shall be determined in light of the following
principles:

With regard to any goods fully obtained in Macao, the origin thereof shall be Macao; and

With regard to any goods not fully obtained in Macao, the origin thereof may be determined as Macao only if such goods have gone through
substantial processing in Macao.

Article 4

“Goods fully obtained in Macao” used in Item 1) of Article 3 in the present Provisions refers to:

Mineral products exploited or extracted in Macao;

Plants or their products harvested or collected in Macao;

Live animals borne and bred in Macao;

Products obtained in Macao from the animals mentioned in Item 3) of this Article;

Products obtained from hunting or fishing in Macao;

The aquatic and other marine products obtained from the high sea by ships with the license of Macao and hanging the regional flag
of the Macao Special Administrative Region;

Products obtained from processing of the products mention in Item 6) of this Article on the ships with the license of Macao and hanging
the regional flag of the Macao Special Administrative Region;

Discarded and waste materials collected in Macao that are generated in the course of consumption in Macao and that are fit only for
recycling of raw materials;

Waste and piecemeal materials that are generated in the course of processing and manufacturing in Macao and that are fit only for
the recycling of raw materials; and

10)

Products obtained from processing of the products mentioned in Items 1) through 9) of this Article.

Article 5

The following processing or disposal, no matter whether they are finished separately or conjunctly, shall all be deemed as minor processing
and disposal, and shall be disregarded in determining whether the goods are fully obtained:

Processing or disposal conducted for the transport or storage of goods;

Processing or disposal conducted for the convenience of the carriage of goods; and

Processing or disposal, such as packing or display, etc., conducted for the sale of goods.

Article 6

“Substantial processing” as used in Item 2) of Article 3 in the present Provisions shall be determined by using the criterion of
“manufacturing or processing operation”, criterion of “change of tax code”, criterion of “ad valorem percentage”, “other criteria”
or “combined criteria”, and the determination shall be carried out according to the Table of the Criteria of Origin for the Goods
of Macao Enpost_titled to Preferential Treatment for Trade in Goods. That table shall be part of the present Provisions and be separately
promulgated by the Customs General Administration.

“Manufacturing or processing operation” refers to the major operation that endows the goods obtained after the processing with the
basic characteristics. Where such an operation is finished in Macao, it shall be deemed that substantial processing has been conducted.

“Change of tax code” refers to that where any material of which the origin is not Macao are processed within Macao, the four-figure
tax category of the processed products in the Customs Import and Export Tariff of the People’s Republic of China has changed, and
such products are not to go through any production, processing or manufacturing that will change their four-figure tax category in
any country or region other than Macao.

“Ad valorem percentage” refers to the percentage that the total value of the raw materials, components, and labor obtained in Macao
and the product development cost account for in the FOB price of the export products. In case such a percentage is 30% or more, and
the final manufacturing or processing operation of the products is finished within Macao, substantial processing shall be deemed
as being conducted. See the formula below:

(Value of raw materials + value of components + value of labor + cost for product development) / FOB price of the export product 0%

“Product development” refers to the product development carried out within Macao for producing or processing the relevant export products.
The cost for product development must be related to those export products, including the cost for development by the producer or
processor himself/itself, the sum paid for development by the entrusted natural person or legal person within Macao, and the sum
paid for purchase of the design, patent, know-how, trademark right or copyright owned by any natural person or legal person within
Macao. Such cost shall be able to be clearly determined in light of the generally accepted accounting standards and relevant international
practice.

Calculation of the “ad valorem percentage” shall be according to the generally accepted accounting standards and relevant international
practice.

“Other criteria” refers to the methods other than the aforesaid criteria of “manufacturing and processing operation”, “change of tax
code” and “ad valorem percentage” for determining the origin that are agreed upon by both authorities of the mainland and Macao.

“Combined criteria” refers to two or more aforesaid criteria that are used at the same time in determining the origin.

Article 7

Simple dilution, mixing, packing, bottling, drying, assembling, classification or decoration shall not be deemed as substantial processing.

Any processing or pricing measure aiming to avoid the present Provisions shall not be deemed as substantial processing.

Article 8

The producing areas of the energy, plants, equipment, machines, and tools used in the manufacturing of the goods, as well as the producing
areas of the components that are not part of the goods and those of the materials of such components, shall be disregarded in determining
the origin of goods.

Article 9

The packages, package materials, and containers, as well as the attachments, spare parts, tools, and introductory materials, that
are declared for import along with the goods and that are included in the Customs Import and Export Tariff of the People’s Republic
of China shall be disregarded in determining the origin of the goods.

Article 10

The goods imported under the CEPA shall be transported from Macao directly to the ports of the mainland.

Where any import goods is transported from Macao to mainland via Hong Kong and where the following conditions are met at the same
time, they shall be deemed as being transported directly from Macao:

Simply due to geographic reasons or transport needs;

Not being traded or consumed in Hong Kong; and

Not going through any processing in Hong Kong other than such processing needed for loading and unloading and for keeping the goods
in good conditions.

Article 11

In customs declaration of the goods imported under the CEPA, the consignee shall voluntarily declare to the customs office that zero
tariff shall be applied to those goods, and shall submit a valid certificate of origin that are in line with the Procedures for Issuing
and Checking of the Certificate of Origin under the CEPA.

With regard to the import goods that are transported to a port of mainland via Hong Kong, the consignee shall, apart from meeting
the provisions of the preceding paragraph, supplement the following documents to the customs office of the place where the goods
are declared:

The through bill of lading issued in Macao;

The invoice of the goods issued by the original producer; and

Relevant certificates conforming to the second paragraph of Article 10 of the present Provisions.

Article 12

Where the certificate of origin is valid upon network check, the customs office shall go through the import formalities of those goods
at zero tariff. Where certificate is invalid upon the check, zero tariff shall not be applicable.

Where the customs office of the place where the goods are declared can not make the network check due to certain reasons, and the
consignee require clearance of the goods, the customs office may release those goods after collecting a security of the value equal
to the amount of taxes payable at the rate applied to those goods if they are not under the CEPA, go through the import formalities
and make the customs statistics. The customs office of the place where the goods are declared shall, within 90 days as of the day
of clearance of those goods, verify the validity of its certificate of origin, and refund the security or change the security to
tariff in light of the result of the verification, and shall modify the customs statistics data correspondingly.

Article 13

Where the customs office of the place where the goods are declared has doubted over the validity of the contents of the certificate
of origin, it may put forward a request through Customs General Administration or a customs office authorized thereof to the Macao
Customs or Macao Economic Services for assistance in the verification. During the period when the Macao Customs or Macao Economic
Services makes the verification for confirmation of the relevant certificate of origin, the customs office of the place where the
goods are declared may release those goods after collecting a security of the value equal to the amount of taxes payable at the rate
applied to those goods if they are not under the CEPA, go through the import formalities and make the customs statistics. After the
Macao Customs or Macao Economic Services finishes the verification, the customs office of the place where the goods are declared
shall, in light of the result of the verification, immediately refund the security or change the security to import tariff, and modify
the customs statistics data correspondingly.

Article 14

The customs offices have the obligation to keep confidential of the materials provided by the consignee of the import goods for verifying
the certificate of origin. Without the consent of the consignee, the customs offices may not disclose those materials or use them
for any other purpose, but apart from the otherwise provisions prescribed in the laws, administrative regulations and relevant judicial
interpretations.

Article 15

The customs offices shall deal with any act in violation of the present Provisions in accordance with the Customs Law of the People’s
Republic of China and the Implementing Rules of the Customs of the People’s Republic of China for Administrative Punishment. If any
crime has been constituted, the criminal liabilities shall be prosecuted for in jure.

Article 16

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

Article 17

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

Customs General Administration
2003-12-30

PROCEDURES FOR INSPECTION OF INTENATIONAL NAVIGATION SHIPS ENTERING AND EXITING PORTS

Procedures for Inspection of Intenational Navigation Ships Entering and Exiting Ports of the People’s Republic of China

Article 1 This set of procedures are formulated for the purpose of strengthening the administration of the international navigation
ships entering and exiting the ports of the People’s Republic of China to facilitate their entry and exit and improve the uses of
the ports.

Article 2 Upon the entry in or exit from ports of the People’s Republic of China international navigation ships (hereinafter referred as the
ships)as well as their crew and the passengers, cargoes and other goods they carry shall be inspected by organs stipulated in Article
3 of this set of procedures according to this set of procedures except stipulated by law of the State Council for other ways of inspection.

Article 3 The inspection shall be carried out by harbour superintendent department of China (HSD), China’s General Administration of Customs
(GAC), border checking departments (BCD) of health quarantine departments (HQD) of China and China’s quarantine departments of animal
and plant (QAP), which are referred to hereinafter as the inspection organs.

Article 4 The inspection organs carry out their inspection according to relevant laws and regulations and deal with the acts of violating laws
and administrative regulations.

HSD is responsible for calling other inspection organs to participate in associated meetings for the study of related problems arising
from the inspection of the ships upon their entry in and exit from China’s ports.

Article 5 When a ship enters and exits China’s ports, its owner or agent should go through formalities in line with relevant stipulations the
procedures. The personnel of inspection organs shall not go on board of the ship for inspections except in the cases stipulated in
the second clause of Article 10 and Article 11 of the procedures or in other special cases.

In going through all the formalities concerning the entry in or exit from China’s ports, owner or agent of the ship concerned should
accurately fill in the forms and provide related certificates and data in line with the stipulations of the inspection organs.

Article 6 The owner or the agent of a ship should fill in an “Application Form for International Navigation Ships Entering and Exiting Chinese
Ports” 7 days before the arrival of the ship to the port (before exiting the previous port if the voyage takes less than 7 days),
and report to the HSD of the arriving port for approval.

The owner or the agent of a ship which is to enter the Yangtze River should fill in an “Application Form for International Navigation
Ships Entering and Exiting Chinese Ports” 7 days before the ship is expected to arrive at the Shanghai port (before exiting the previous
port if the voyage takes less than 7 days), and report to the HSD for approval.

Article 7 The owner or the agent of a ship should report the time of arrival, the site of anchorage, and the plan for anchoring and moving
as well as related information about the crew and passengers to the inspection organs concerned 24 hours before its arrival at the
port (before exiting the previous port if the voyage takes less than 24 hours).

Article 8 The owner or the agent who has not gone through the formalities of entering the port before the arrival of the ship should go through
the formalities at the inspection organs within 24 hours after its arrival.

If the anchoring time is less than 24 hours, the owner or the agent may, with the agreement of the inspection organ, go through the
formalities of exiting the port while going through the formalities of entering the port.

Article 9 If the formalities of entering the port have been gone through by the owner or the agent of a ship the people concerned can move
and cargoes can be loaded on or out of the ship as soon as the arrival of the ship to the port.

If formalities of entering the port have not been gone through by the owner or the agent of a ship upon its arrival of a port all
people must not move and cargoes and other goods must not be loaded on and out of the ship after its arrival except inspection personnel
and navigators; if the previous entering and exiting port of the ship is a Chinese port, people may leave and go on board the ship
and cargoes and other goods may be loaded and unloaded after its arrival, but the owner or the agent should immediately go through
the formalities of entering the port.

Article 10 The HQDs carry out telecommunications quarantine. The owner or the agent of a ship with a sanitation certificate may apply to the
HQDs for telecommunications quarantine.

HQDs should carry out quarantine at the site of the anchorage if the ships come from epidemic areas and ships carrying people who
have or are suspected to have contracted infectious diseases or bodies of those who have died of non-accidental causes or of unclear
causes, or ships without sanitation certificate or with an expired sanitation certificate only or the sanitation conditions not up
to the required standards.

Article 11 QDAPs may carry out the quarantine at the site of the anchorage if the ships or animals and plants, animal and plant products or
other goods carried by the ship come from animal and plant epidemic areas that need quarantine

Article 12 The ship owner or the agent of a ship should go through the necessary formalities of exiting at the inspection organs within 4 hours
before the ship exits the port (or at the time of entering the port if the anchoring time is less than 4 hours). The relevant inspection
organs should notify this by signing the “Ship Exiting Formalities Certificate”; and the owner or the agent should go to the HQD
to apply for an exiting license with the certificate and other certificates and data as required by the HQD.

Article 13 If any changes happen or the ship does not exit the port after getting the license, the owner or the agent should report to the HQD,
which will discuss with other inspection organs to decide whether it is necessary for the owner or the agent to go through the exiting
formalities again.

Article 14 For the ships that have a regular shipping route and fixed crew and come and go one or more than one voyage, the owner or the agent
may apply in a written form to the HQD to go through the formalities of regular entering and exiting China’s ports. The HQD concerned
which handles the application will discuss with other inspection organs to decide whether to approve it or not, and after their approval,
the HQD will issue a regular exiting license valid for 7 days.

Article 15 The inspection organs and their personnel must implement the procedures impartially, scrupulously abide by their duties, and carry
out the inspections and handle the applications for entering and exiting Chinese ports in time.

Article 16 The following related terms of the procedures can be defined as:

(1) International navigation ships are referred to the ships of foreign origin which enter and exit China’s ports and the ships of
Chinese origin which sail international navigation routes;

(2) Ports are referred to the Chinese ports which have been approved by the Chinese government for international navigation ships
to enter and exit; and

(3) The ship owner is referred to the owner or the operator of the ship.

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING THE TAX PAYMENT BY ENTERPRISES WITH FOREIGN INVESTMENT AND FOREIGN ENTERPRISES ENGAGING IN THE BUSINESS OF FINANCIAL ASSET DISPOSITION

The State Administration of Taxation

Circular of the State Administration of Taxation on the Relevant Issues Concerning the Tax Payment by Enterprises with Foreign Investment
and Foreign Enterprises Engaging in the Business of Financial Asset Disposition

GuoShuiFa [2003] No.3

January 7, 2003

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

We hereby give our notice on the relevant issues concerning the tax payment by enterprises with foreign investment and foreign enterprises
engaging in the business of financial asset disposition as follows in accordance with the Income Tax Law of the People’s Republic
of China for Enterprises with Foreign Investment and Foreign Enterprises and the detailed rules for its implementation, as well as
the Interim Regulation of the People’s Republic of China on Business Tax and the detailed rules for its implementation:

Enterprises with foreign investment and foreign enterprises (hereinafter referred to as enterprises) shall, regarding their income
obtained in China from the business of financial asset disposition, file tax returns and pay value-added tax, business tax and enterprise
income tax in accordance with the tax laws and the present circular.

II.

The business of financial asset disposition shall mean that an enterprise obtains by means of purchase or holding shares through absorption,
etc. from a financial asset management corporation inside the territory of China the share rights, creditor’s rights and physical
assets of other enterprises inside the territory of China or the entire assets composed of the above said assets (hereinafter referred
to as replacement assets), and then dispose the above said replacement assets by means of transfer, retractation, exchange and sale,
etc., and obtain the corresponding returns.An enterprise may dispose of the financial assets by the following means:

(a)

retracting or transferring the creditor’s rights;

(b)

converting the creditor’s rights it holds into share rights;

(c)

disposing of the physical assets it has right to control;

(d)

selling or transferring the share rights it holds;

(e)

returning its replacement assets;

(f)

disposing of the replacement assets by other means.

III.

An enterprise shall, when obtaining replacement assets, regard the price when the assets were actually purchased or when it held the
shares through absorption as the original price. The classification of replacement assets shall be based on the pricing object when
the said assets are obtained, which may be one share right of an enterprise of sole pricing, or the single item of asset in the form
of creditor’s right or physical asset, or the combined assets uniformly priced with several items of assets being bound.For the re-classification
and re-combination of all or part of the replacement assets obtained by an enterprise, the original price of the single item of or
the combined replacement assets may be determined after the re-classification and re-combination, provided that the original price
of the replacement assets after the re-classification and re-combination shall not exceed the original price at the time when the
enterprise obtained the replacement assets.

IV.

An enterprise shall, when disposing of the replacement assets, be exempted from the business tax and value-added tax in accordance
with the following provisions:

(a)

no business tax shall be levied on an enterprise that disposes of replacement assets of creditor’s right;

(b)

no business tax shall be levied on an enterprise for the income which it obtains from disposition of replacement assets of share right
(including disposition by means of debt to equity);

(c)

business tax shall be levied on an enterprise for the income which it obtains from disposition of its own physical replacement assets
if such assets are real estates; while if such assets are goods, value-added tax shall be levied in accordance with the regulations
on value-added tax and the relevant provisions.

With respect to the income obtained by an enterprise from its disposition of replacement assets, enterprise income tax shall be calculated
and paid on the basis of the net proceeds after the original price, expenses and losses of the relevant assets are deducted.Where
an enterprise disposes of its replacement assets by stages or by installments, the part exceeding the original price shall, when
the income from its disposition of assets exceeds the original price of replacement assets in the form of single item of or combined
assets, be calculated into the present taxable income of the enterprise, and then enterprise income tax shall be calculated and levied.The
losses occurred due to an enterprise’s disposition of a single item of or combined replacement assets, may be deducted from the present
taxable income of the enterprise. For the combined assets, the losses shall be calculated after the disposition of combined assets
has been totally finalized.

VI.

A foreign enterprise that has not set up an office or a site inside the territory of China shall, either by itself or by authorizing
its agent inside the territory of China, file tax returns and pay its payable tax amount. Its payable enterprise income tax may be
paid at the locality of the enterprise to which one item of the replacement assets belongs; while the place for the payment of its
payable business tax or value-added tax shall be determined in accordance with the relevant provisions.

The State Administration of Taxation
2003-01-07

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON SEVERAL ISSUES CONCERNING THE TAX POLICIES FOR THE CHAIN ENTERPRISES

The Ministry of Finance, the State Administration of Taxation

Circular of the Ministry of Finance and the State Administration of Taxation on Several Issues Concerning the Tax Policies for the
Chain Enterprises

CaiShui [2003] No.1

February 27, 2003

The finance departments (bureaus), state tax bureaus and local tax bureaus of all provinces, autonomous regions, municipalities directly
under the Central Government and municipalities separately listed on the State plan:

In order to implement the Circular of the General Office of the State Council on Transmitting Several Opinions of the Office for Economic
Restructure of the State Council and the State Economy and Trade Commission Concerning Promoting the Development of Chain Operations
(GuoBanFa [2002] No.49) and support the development of chain operations, several issues concerning value-added tax and income tax
that shall be paid by the chain enterprises in a consolidated way are hereby specified as below:

As for the chain enterprises under unified calculation that are operating in the provinces, autonomous regions, municipalities directly
under the Central Government, municipalities separately listed on the State plan, where it is necessary for the head offices to file
returns of and pay for the value-added tax in a consolidated way at the local tax authorities, it shall be in accordance with the
Circular of the Ministry of Finance and the State Administration of Taxation on Several Issues Concerning Value-added Tax Payment
Place of the Chain Enterprises (CaiShuiZi [1997] No.97).

II.

In accordance with the Interim Regulations on Enterprise Income Tax of the People’s Republic of China and Rules for the Implementation
of the Interim Regulations on Enterprise Income Tax of the People’s Republic of China, the head office shall pay the enterprise income
tax in a consolidated way to the local tax authorities if the direct operating stores established by a domestically funded enterprise
in different regions within a province meet the conditions ?C they are operating in a consolidated way under a head office; they
are connected by computer to the head office; their head office makes unified purchase and distribution, calculation and standardization
management; and they don’t open balance account of bank and don’t make financial statement and account book. In accordance with the
Income Tax Law of the People’s Republic of China for Enterprises with Foreign Investment and Foreign Enterprises and the Rules for
the Implementation of the Income Tax Law of the People’s Republic of China for Enterprises with Foreign Investment and Foreign Enterprises,
the head office of an enterprise with foreign investment engaged in cross-regional chain operations shall pay the enterprise income
tax in a consolidated way to the local tax authorities.

III.

After the above-mentioned cross-regional chain enterprises have paid the value-added tax and income tax in a consolidated way, in
order to ensure that the financial interests of the regions where the chain stores are located will not be affected for the change
of the tax payment places and to be advantageous for the development of the chain operations, the finance departments of all levels
shall carefully implement the spirits of No. 49 [2002], formulate timely measures for adjusting the finance interests among the relevant
regions, properly allocate the interests among the departments of all levels.

The Ministry of Finance, the State Administration of Taxation
2003-02-27

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Russia Laws

The basic law

Concluding and Transitional Provisions

PORT LAW OF THE PEOPLE’S REPUBLIC OF CHINA

CIRCULAR ON DISTRIBUTING THE MEASURES FOR THE ADMINISTRATION OF VERIFICATION AND WRITING-OFF OF EXPORT PROCEEDS IN FOREIGN EXCHANGE

CIRCULAR ON THE QUALIFICATION ADMINISTRATION OF FOREIGN-OWNED ENTERPRISES OPERATING CONTRACTED PROJECTS WITHIN CHINA

PROVISIONS ON THE INVESTIGATION OF INDUSTRY INJURY UNDER SAFEGUARD MEASURES

REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON IMPORT AND EXPORT DUTIES

NOTICE OF THE MINISTRY OF CIVIL AFFAIRS ON THE ISSUES CONCERNING THE REGISTRATION OF SINO-FOREIGN COOPERATIVE EDUCATIONAL INSTITUTIONS

PROVISIONS OF THE CUSTOMS OF THE PEOPLE’S REPUBLIC OF CHINA ON EXECUTING THE RULES OF ORIGIN FOR TRADE IN GOODS UNDER THE MAINLAND/MACAO CLOSER ECONOMIC PARTNERSHIP ARRANGEMENT

PROCEDURES FOR INSPECTION OF INTENATIONAL NAVIGATION SHIPS ENTERING AND EXITING PORTS

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON THE RELEVANT ISSUES CONCERNING THE TAX PAYMENT BY ENTERPRISES WITH FOREIGN INVESTMENT AND FOREIGN ENTERPRISES ENGAGING IN THE BUSINESS OF FINANCIAL ASSET DISPOSITION

CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON SEVERAL ISSUES CONCERNING THE TAX POLICIES FOR THE CHAIN ENTERPRISES

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