LAW OF THE PEOPLE’S REPUBLIC OF CHINA ON ROAD TRAFFIC SAFETY

The Standing Committee of the Tenth National People’s Congress

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

No. 8

The “Law of the People’s Republic of China on Road Traffic Safety”, which was adopted at the 5th Session of the Standing Committee
of the Tenth National People’s Congress of the People’s Republic of China on October 28, 2003, is hereby promulgated, and shall come
into force on May 1, 2004.

Hu Jintao,President of the People’s Republic of China

October 28, 2003

Law of the People’s Republic of China on Road Traffic Safety ContentsChapter I General Principles

Chapter II Vehicles and Drivers

Section 1 Motor Vehicles and Non-Motor Vehicles

Section 2 Motor Vehicle Drivers

Chapter III Conditions for Road Passage

Chapter IV Provisions on Road Passage

Section 1 General Provisions

Section 2 Provisions on Passage of Motor Vehicles

Section 3 Provisions on Passage of Non-motor Vehicles

Section 4 Provisions on Passage of Pedestrians and Passengers

Section 5 Particular Provisions on Expressways

Chapter V Handling of Traffic Accidents

Chapter VI Supervision over Law Enforcement

Chapter VII Legal LiabilitiesChapter VIII Supplementary Provisions

Chapter I General Principles

Article 1

The present Law is formulated with a view to maintaining the road traffic order, preventing and reducing traffic accidents, protecting
personal safety, protecting the safety of properties of citizens, legal persons and other organizations, and also other lawful rights
and interests, as well as improving the passage efficiency.

Article 2

All vehicle drivers, pedestrians, passengers, road traffic activity-related entities and individuals inside the territory of the People’s
Republic of China shall abide by the present Law.

Article 3

The work of road traffic safety shall be in compliance with the principles of administration according to law and facilitating the
masses, and shall guarantee the orderliness, safety, and smooth going of the road traffic.

Article 4

The people’s governments at all levels shall guarantee that the administration of road traffic safety suits the economic construction
and social development.

The local people’s governments at the county level or above shall adapt to the needs in road traffic development, and shall, in accordance
with the road traffic safety laws and regulations as well as the relevant policies of the State, formulate the administrative planning
on road traffic safety, and arrange for the implementation thereof.

Article 5

The public security institution under the State Council shall be responsible for the administration of road traffic safety nationwide.
The traffic administrative departments of the public security organs under the local people’s governments at the county level or
above shall be responsible for the administration of road traffic safety within their respective jurisdictions.

The traffic and construction administrative departments under the people’s governments at the county level and above shall, upon their
respective duties, be responsible for the relevant work on road traffic.

Article 6

The people’s governments at all levels shall educate people regularly about road traffic safety so to improve the citizens’ consciousness
of road traffic safety.

The traffic administrative departments of the public security organs and their traffic policemen shall, when exercising their functions,
strengthen propaganda of road traffic safety laws and regulations, and set examples in abiding to the road traffic safety laws and
regulations.

State organs, armed forces, enterprises, public institutions, public organizations and other organizations shall educate their own
staff members about road traffic safety.

The administrative departments of education and the schools shall incorporate the education of road traffic safety into legal education.

News agencies, publishing entities, broadcasting and television stations, and other relevant entities are obligated to educate people
about road traffic safety.

Article 7

For the administration of road traffic safety, scientific researches shall be strengthened, meanwhile, advanced administrative methods,
techniques and equipment shall be extended and used.

Chapter II Vehicles and Drivers

Section 1 Motor Vehicles and Non-Motor Vehicles

Article 8

The State applies a system of registration to motor vehicles. A motor vehicle is not allowed to run on road until it has been registered
by the traffic administrative department of the public security organ. If an unregistered motor vehicle needs to temporarily run
on road, it shall have a temporary passage certificate.

Article 9

Whoever applies for the registration of a motor vehicle shall submit the following proofs and certificates:

(1)

identification proof of the owner of the motor vehicle;

(2)

proof on the provenance of the motor vehicle;

(3)

proof on being qualified when the whole motor vehicle left factory or import documentation on the imported motor vehicle;

(4)

proof on payment of vehicle purchase tax or documentation on tax-exemption;

(5)

other proofs and certificates prescribed by any law or administrative regulation to be submitted for the registration of the motor
vehicle.

The traffic administrative department of the public security organ shall, within 5 working days as of accepting an application, complete
the registration and examination of the motor vehicle, and shall issue the motor vehicle registration certificate, the plate and
the driving permit if the said vehicle meets the conditions prescribed in the preceding paragraph; or shall state the reason of rejecting
registration to the applicant if the said vehicle fails to meet the conditions prescribed in the preceding paragraph.

Any entity or individual other than the traffic administrative department of the public security organ shall not issue a motor vehicle
plate or demand that a motor vehicle carry any other plate, unless otherwise prescribed by the present Law.

The pattern of the registration certificate, plate and driving permit of a motor vehicle shall be prescribed by and their production
shall be supervised by the public security institution under the State Council.

Article 10

A motor vehicle which is permitted to be registered shall meet the national technical standards for the safety of motor vehicles.
At the time of application for the registration of a motor vehicle, the applicant shall accept the technical inspection of safety
on the motor vehicle. However, if a type of new motor vehicle which is produced by an enterprise ascertained by the administrative
department of the State for motor vehicle products according to the national technical standards of safety of motor vehicles is found
upon inspection to have met such national technical standards when it leaves the factory and a conformity inspection certificate
has been obtained, the technical inspection of safety may be exempted.

Article 11

Whoever drives a motor vehicle on road shall hang a motor vehicle plate, place the conformity inspection mark and the insurance sign,
as well as bring with him the driving permit for the motor vehicle.

A motor vehicle plate shall be hung in accordance with the provisions and be kept clear and integral, instead of being intentionally
sheltered or smeared.

No entity or individual shall confiscate or detain any motor vehicle plate.

Article 12

In case any of the following circumstances occurs, the corresponding registration shall be made:

(1)

The ownership of a motor vehicle is transferred;

(2)

Any registered content of a motor vehicle is modified;

(3)

A motor vehicle is mortgaged; or

(4)

A motor vehicle is discarded as unserviceable.

Article 13

For the motor vehicles running on road after registration, technical inspections of safety shall be carried out in accordance with
the laws and administrative regulations and in light of such different particulars as the purpose of use, the number of passengers
or quantity of goods carried, the service life, etc. of the vehicles. If a driving permit or a compulsory third party liability insurance
policy for a motor vehicle is provided, the institution for the technical inspection of safety of motor vehicles shall carry out
the inspection, and no entity may set any other conditions. If a motor vehicle meets the national technical standards for safety,
the traffic administrative department of the public security organ shall issue the conformity inspection mark.

The technical inspections of safety for motor vehicles shall be conducted by non-government institutions. The specific measures shall
be formulated by the State Council.

In the regions where technical inspections of safety of motor vehicles are conducted by non-government institutions, no entity may
demand any motor vehicle to be inspected at any designated place.

The traffic administrative department of the public security organ or the institution for technical inspections of motor vehicle safety
shall not demand any motor vehicle to be repaired or maintained at any designated place.

The institution for technical inspections of motor vehicle safety shall, if charging fees for the inspections of motor vehicles, strictly
comply with the charging rates ratified by the price administrative institution under the State Council.

Article 14

The State applies a system of compulsory discarding unserviceable to motor vehicles, and prescribes different standards for discarding
motor vehicles as unserviceable in light of their safety and technical conditions as well as their different purposes of use.

For a motor vehicle which ought to be discarded as unserviceable, it must be deregistered in good time.

A motor vehicle which reaches the standards for being discarded as unserviceable shall not run on road. The large passenger vehicles,
wagons and other commercial operating vehicles which have been discarded as unserviceable shall be disassembled under the supervision
of the traffic administrative department of the public security organ.

Article 15

Police cars, fire engines, ambulances and engineering emergency vehicles shall be painted with marked patterns and be installed with
alarms and identification lamps in accordance with relevant provisions. Other motor vehicles shall not be painted or installed with
or use any of the marked patterns, alarms or identification lamps specifically used by or similar to those of the aforementioned
vehicles.

Police cars, fire engines, ambulances and engineering emergency vehicles shall be used strictly pursuant to the prescribed purposes
and conditions.

The special vehicles for highway supervision and inspection shall be set up with uniform marks and warning lamps in accordance with
the provisions of the Highway Law.

Article 16

No entity or individual may:

(1)

assemble any motor vehicle or discretionally change the registered structure, framework or features of any motor vehicle;

(2)

change the motor vehicle type, engine number, chassis number or vehicle identification number;

(3)

forge, alter or use forged or altered registration certificate, plate, driving permit, conformity inspection mark or insurance sign
of any motor vehicle; or

(4)

use the registration certificate, plate, driving permit, conformity inspection mark or insurance sign of any other motor vehicle.

Article 17

The State applies a compulsory third party liability insurance system to motor vehicles, and establishes social assistance funds for
road traffic accidents. The specific measures shall be formulated by the State Council.

Article 18

A non-motor vehicle which ought to be lawfully registered may not run on road until it has been registered by the traffic administrative
department of the public security organ.

The categories of the non-motor vehicles which ought to be lawfully registered shall be prescribed by the people’s governments of
the provinces, autonomous regions, and municipalities directly under the Central Government in light of their respective local actual
situations.

The external size, quality, brakes, bell and night retroreflecting device of a non-motor vehicle shall meet the technical standards
for safety of non-motor vehicles.

Section 2 Motor Vehicle Drivers

Article 19

Whoever drives a motor vehicle shall have lawfully obtained a motor vehicle driving license.

Whoever applies for a motor vehicle driving license shall meet the conditions for driving permission as prescribed by the public security
institution under the State Council; after he is found upon examination be qualified, the traffic administrative department of the
public security organ shall issue a motor vehicle driving license of the corresponding category.

Whoever holds an overseas motor vehicle driving license may, if meeting the conditions for driving permission as prescribed by the
public security institution under the State Council, and assessed by the traffic administrative department of the public security
organ to be qualified, be issued a Chinese motor vehicle driving license.

A driver shall drive a motor vehicle of the permitted type as stated on his driving license; and shall, when driving the motor vehicle,
bring with him his motor vehicle driving license.

No entity or individual other than the traffic administrative department of the public security organ may confiscate or detain a motor
vehicle driving license.

Article 20

The trainings on motor vehicle driving shall be conducted by non-government institutions. For this purpose, the traffic administrative
department shall apply qualification administration to the driving training schools and driving training classes, among which, the
qualification administration of driving training schools and driving training classes for special tractors shall be carried out by
the agricultural (agricultural machinery) administration.

The driving training schools and driving training classes shall, in strict accordance with the relevant provisions of the State, hold
trainings on road traffic safety laws and regulations as well as driving skills for the students and trainees, and guarantee the
training quality.

No State organ or administrative department for driving trainings and examinations may hold or participate in holding driving training
schools or driving training classes.

Article 21

A driver shall, before driving a motor vehicle on road, carefully examine the safety and technical performance of the motor vehicle;
and shall not drive a motor vehicle with hidden safety perils, for example, the safety facilities are incomplete or the components
do not meet the technical standards, and so on.

Article 22

Motor vehicle drivers shall abide by road traffic safety laws and regulations, and drive the vehicle safely and courteously according
to the operation rules.

Whoever has drunk alcohol or taken psychotropic drugs or narcotics controlled by the State, or is suffering from a disease which impedes
him from driving a motor vehicle safely, or is too tired to drive safely, shall not drive a motor vehicle.

No one shall force, instigate or connive at a driver to violate the road traffic safety laws and regulations or the driving requirements
on motor vehicle safety to drive a motor vehicle.

Article 23

The traffic administrative department of the public security organ shall, in accordance with the laws and administrative regulations,
inspect the motor vehicle driving licenses at regular intervals.

Article 24

The traffic administrative department of the public security organ shall apply a system of keeping accumulative scores to the motor
vehicle drivers who violate the road traffic safety laws and regulations in addition to imposing administrative penalties upon them
in accordance with the law. The traffic administrative department of the public security organ shall detain the motor vehicle driving
licenses of those whose accumulative scores have reached the prescribed limit, arrange for the education of road traffic safety laws
and regulations and the corresponding re-examinations for them; the motor vehicle driving licenses shall be returned to those who
are examined to be qualified.

For the motor vehicle drivers who abide by the road traffic safety laws and regulations, and have no accumulative scores within one
year, the period for inspection of their motor vehicle driving licenses may be extended. The specific measures shall be formulated
by the public security institution under the State Council.

Chapter III Conditions for Road Passage

Article 25

The uniform road traffic signals shall be applied throughout the country.

Traffic signals include traffic signal lamps, traffic signs, traffic line markings and the command of traffic policeman.

The traffic signal lamps, traffic signs and traffic line markings shall be set up in conformity with the requirements on safe and
smooth road traffic and the national standards, and be kept clear, eye-catching, accurate and integral.

Road traffic signals shall be added, changed or renewed in time upon the need of passage. The add, change or renewal of restrictive
road traffic signals shall be announced to the public in advance, and propaganda shall be carried out extensively.

Article 26

The traffic signal lamps shall be composed of red light, green light and amber light. The red light means prohibition of passage,
the green light means permission of passage, while the amber light means a warning.

Article 27

Warning lights, warning marks or safety protection facilities shall be set up at a crossing where a railway and a road intersects
on a plane. At a railway crossing not watched by any one, warning marks shall be set up at a certain distance from the crossing.

Article 28

No entity or individual may discretionally set up, remove, occupy or damage any traffic signal lamp, traffic sign or traffic line
marking.

The trees and other plants along both sides of the road or along the median strip, as well as the installed advertisement boards and
pipelines, etc., shall be kept a necessary distance away from the traffic facilities, and shall not shelter road lamps, traffic signal
lamps or traffic signs, or impede the safe range of visibility, or affect the passage.

Article 29

The planning, design and construction of roads, parking lots and auxiliary road facilities shall meet the requirements on safe and
smooth road traffic, and be adjusted in time where the traffic so requires.

Where the traffic administrative department of the public security organ finds that a road which has been put into use contains any
section where traffic accidents often occur, or that any serious hidden trouble of traffic safety exists in a parking lot or the
auxiliary road facilities, it shall report to the local people’s government in time, and render suggestions on preventing the traffic
accidents and eliminating the hidden trouble, while the local people’s government shall make a handling decision in time.

Article 30

Where a road collapses, pits, is damaged by water, protrudes or is damaged otherwise, or any of such traffic facilities as a traffic
signal lamp, a traffic sign or the traffic line markings are damaged or lost, the maintenance department or administrative department
of road or traffic facilities shall set up warning marks and restore the road or repair the facilities in time.

Where the traffic administrative department of the public security organ finds any circumstance in the preceding paragraph, which
endangers the traffic safety, and no warning mark is set up, it shall take safety measures in time, direct the flow of traffic, and
notify the maintenance department or administrative department of road or traffic facilities.

Article 31

No entity or individual may, without permission, occupy the road to engage in non-traffic activities.

Article 32

Where, due to the needs in project construction, a road has to be occupied or dug, or pipeline facilities have to be put up over or
through a road, it shall obtain the consent of the road administrative department in advance; if the traffic safety is affected,
it shall also obtain the consent of the traffic administrative department of the public security organ as well.

A construction entity shall work on the approved road section and within the approved time, and set up an obvious safety warning mark
at a safe distance from the workplace facing the coming vehicles, and take prevention measures, as well; after the work, it shall
promptly clean up the obstacles on the road, and eliminate the hidden trouble of safety, and may not restore the passage until the
road has been inspected by the road administrative department and the traffic administrative department of the public security organ
to be qualified for the passage.

With respect to the road under construction where the traffic is not suspended, the traffic administrative department of the public
security organ shall strengthen the supervision and inspection of the traffic safety, and maintain the road traffic order.

Article 33

The newly-built, rebuilt or extended public buildings, commercial blocks, residential quarters and large (medium) sized buildings,
etc. shall be equipped or added with parking lots; if the parking area is insufficient, it shall be rebuilt or extended in time;
no one shall discretionally suspend the use of a parking lot which has been put into use or use it for any other purpose.

Where the passage of pedestrians and vehicles is not affected, the relevant government department may delimit parking area within
the scope of urban roads.

Article 34

Where a road in front of the gate of a school, kindergarten, hospital or a home for the aged has no pedestrian crossing facilities,
crosswalk lines shall be delimited, and indication marks shall be set up.

On the pavements of the major urban roads, blind tracks shall be set up pursuant to the planning. The setup of the blind tracks shall
meet the national standards.

Chapter IV Provisions on Road Passage

Section 1 General Provisions

Article 35

Both motor vehicles and non-motor vehicles shall pass on the right side.

Article 36

Where, as road conditions and passage so requires, a road is divided into motor vehicle driveways, non-motor vehicle driveways and
pavements, motor vehicles, non-motor vehicles and pedestrians shall pass along the road in their respective lanes. Where the road
is not divided into motor vehicle driveways, non-motor vehicle driveways and pavements, motor vehicles shall pass along the middle
of the road, while non-motor vehicles and pedestrians shall pass along both sides of the road.

Article 37

Where a special driveway is delimited on a road, only prescribed vehicles are allowed to pass within the special driveway, and no
other vehicle may drive into the special driveway.

Article 38

Vehicles and pedestrians shall pass according to the traffic signals; or pass according to on-the-spot command of the traffic policeman,
if any; or shall, if along a road without any traffic signal, pass pursuant to the principle of guaranteeing the safety and smooth
going.

Article 39

The traffic administrative department of the public security organ may, in light of the specific circumstance of the road and the
traffic flow, take such measures against the motor vehicles, non-motor vehicles and pedestrians as directing the flow, restricting
the passage or prohibiting the passage, etc. If, in the event of a large mass activity or large-scope construction, etc., it is necessary
to take measures restricting the traffic, or to make a decision directly relating to the road traffic activities of the public, it
shall be announced to the public in advance.

Article 40

If, in the event of any circumstance which seriously affects the traffic safety such as natural disasters, atrocious weather conditions
or major traffic accidents, etc., it is difficult to guarantee the traffic safety by taking other measures, the traffic administrative
department of the public security organ may practice traffic control.

Article 41

Other specific provisions on the relevant road passage shall be formulated by the State Council.

Section 2 Provisions on Passage of Motor Vehicles

Article 42

A motor vehicle shall not, if driving on the road, exceed the maximum speed per hour as indicated on the speed limitation mark; or
shall, if on a road section without any speed limitation mark, keep a safe speed.

When a vehicle is driving at night or on a road section where dangers are easy to occur, or in case of such weather conditions as
dust, hailstorm, rain, snow, fog, freezing, etc., it shall run at a lower speed.

Article 43

For any two motor vehicles running in a same driveway, the vehicle at the back shall keep a safe distance from the vehicle ahead enough
for taking emergency braking measures. Overtaking is not allowed under any of the following circumstances:

(1)

The vehicle ahead is turning left, turning around or overtaking another vehicle ahead;

(2)

The vehicle concerned is possible to meet another vehicle coming from the opposite direction;

(3)

The vehicle ahead is a police car, fire engine, ambulance or engineering emergency vehicle that is performing an urgent task;

(4)

The vehicle concerned is passing a railway crossing, intersection, narrow bridge, curved road, steep slope, tunnel, crosswalk, or
a downtown road section with large traffic flow, etc., where there is no condition for overtaking.

Article 44

A motor vehicle shall pass an intersection according to the traffic signal lamps, traffic signs, traffic line markings or the command
of the traffic policeman; or shall, when passing an intersection without any traffic signal lamp, traffic sign, traffic line markings
or command of traffic policeman, slow down to run slowly, and let the pedestrians and the vehicles with passage priority to pass
first.

Article 45

When a motor vehicle meets the vehicles ahead which are waiting in a queue or are running slowly, it shall not overtake the vehicle(s)
ahead or occupy the driveway on the other side, nor shall it pass through the waiting vehicles.

The motor vehicles shall, when driving on a road section or at a road junction where the driveways are decreasing, or when parked
for waiting in a queue or running slowly at an intersection without any traffic signal lamp, traffic sign, traffic line markings
or command of traffic policeman, pass alternatively in turn.

Article 46

A motor vehicle shall pass a railway crossing according to the traffic signals or the traffic manager’s command; if there is no traffic
signal or traffic manager, it shall slow down or stop, and may not pass until believing that it is safe to do so.

Article 47

A motor vehicle shall slow down when passing a crosswalk; or shall stop to give way when a pedestrian is passing the crosswalk.

When a motor vehicle is passing a road without traffic signal and a pedestrian is crossing the road, it shall give way.

Article 48

A motor vehicle that carries goods shall conform to the ratified load capacity, and it is strictly prohibited to be overloaded; the
length, width and height of the carried goods shall not violate the loading requirements, and the carried goods shall not be dropped
or scattered.

A motor vehicle carrying overloaded articles which cannot be dismantled, thus affecting the traffic safety shall run according to
the time, route and speed designated by the traffic administrative department of the public security organ, and carry an obvious
mark. If it carries on the highway the overloaded articles which cannot be dismantled, it shall comply with the provisions of the
Highway Law as well.

If a motor vehicle carries explosives, inflammable or explosive chemicals, virulent or radioactive substances or other dangerous substances,
it shall obtain the approval of the public security organ for running according to the designated time, route and speed, carry a
warning mark, and necessary safety measures shall be taken accordingly.

Article 49

A motor vehicle shall not carry persons by exceeding the ratified number, and a passenger transport motor vehicle shall not violate
the provisions regarding the carriage of goods.

Article 50

Freight motor vehicles are prohibited to carry passengers.

If a freight motor vehicle needs to bring workers, safety measures shall be taken to protect the workers.

Article 51

When a motor vehicle is running, the driver and the passengers shall use the safety belts in accordance with the provisions. A motorcycle
driver and the passenger shall wear the safety helmets in accordance with the provisions.

Article 52

When a motor vehicle meets with a breakdown on road, and needs to be parked for elimination of the breakdown, the driver shall immediately
turn on the danger emergency alarm flash light, and move the motor vehicle to be parked at a place where the traffic will not be
impeded; if the motor vehicle is difficult to be moved, the driver shall continuously turn on the danger emergency alarm flash light,
and set up a warning mark towards the direction facing the coming vehicles, or take other measures to enlarge the warning distance,
and shall, when necessary, promptly call the police.

Article 53

When a police car, fire engine, ambulance or engineering emergency vehicle is performing an urgent task, it may use the alarm or the
identification lamps; on the premise of guaranteeing safety, it is not subject to the restriction of driving route, driving direction,
driving speed or signal lamp, and other vehicles and pedestrians shall give way.

When a police car, fire engine, ambulance or engineering emergency vehicle is not performing any urgent task, it may not use the alarm
or the identification lamps, and does not have the priority to pass on road as prescribed in the preceding paragraph.

Article 54

When a road maintenance vehicle or an engineering operation vehicle is working, its driving route and direction shall not be restricted
by traffic signs or line markings it does not affect the passage of the passing vehicles, and the passing vehicles and pedestrians
shall give way.

Such motor vehicles as watering carts, sweeping vehicles, etc. shall work according to the standards for safe operation; under the
circumstance of not affecting the passage of other vehicles, they are not restricted by the rule that vehicles shall run along the
road in their respective lanes, provided that they do not run in an opposite direction.

Article 55

Tractors are prohibited to pass along expressways or roads in central areas of large and medium-sized cities. Other roads where tractors
are prohibited to pass shall be prescribed by the people’s governments of the provinces, autonomous regions, and municipalities directly
under the Central Government in light of their respective local actual situations.

Tractors may be used to engage in freight transportation on the roads where tractors are permitted to pass, but may not be used to
carry persons.

Article 56

Motor vehicles shall be parked at the prescribed places. It is prohibited to park any motor vehicle on the pavement; except for the
parking areas designated in accordance with Article 33 of the present Law.

Whoever temporarily parks a vehicle on road shall not impede the passage of other vehicles or pedestrians.

Section 3 Provisions on Passage of Non-m

MEASURES FOR THE MANAGEMENT OF RESIDENTS OF HONG KONG AND MACAO SPECIAL ADMINISTRATIVE REGIONS HOLDING THE LEGAL PROFESSION QUALIFICATION OF THE MAINLAND AND ENGAGING IN LEGAL PRACTICE IN THE MAINLAND

Ministry of Justice

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

No. 81

The Measures for the Management of Residents of Hong Kong and Macao Special Administrative Regions Holding the Legal Profession Qualification
of the Mainland and Engaging in Legal Practice in the Mainland were deliberated and adopted at the ministerial meeting on November
27th, 2003.They are hereby promulgated and shall take effect as of January 1st, 2004.

Zhang Fusen, Minister of the Ministry of Justice

November 30th, 2003

Measures for the Management of Residents of Hong Kong and Macao Special Administrative Regions Holding the Legal Profession Qualification
of the Mainland and Engaging in Legal Practice in the Mainland

Chapter I. General Provisions

Article 1

With a view to carrying out the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Mainland and Macao Closer Economic
Partnership Arrangement approved by the State Council, and to regulating and administering the activities of Hong Kong residents
holding the legal profession qualification of the Mainland and engaging in legal practice in the Mainland, the present Measures are
formulated in accordance with the Lawyers Law of the People’s Republic of China (hereinafter referred to as Lawyers Law) and other
relevant regulations.

Article 2

The residents of Hong Kong and Macao who have taken the National Uniform Judicial Examination held in the Mainland and have acquired
the Legal Profession Qualification Certificate of the People’s Republic of China may apply for practicing law in the Mainland.

Article 3

A resident of Hong Kong or Macao who applies for practicing law in a Mainland law firm shall complete an internship according to relevant
regulations of the Ministry of Justice, and shall apply for the legal profession qualification certificate.

Article 4

A resident of Hong Kong or Macao who practices law in a Mainland law firm shall only engage in non-litigation matters.

Article 5

A resident of Hong Kong or Macao who practices law in a Mainland law firm shall comply to the laws, regulations and rules of the state,
shall strictly abide by the lawyers’ professional moral and disciplinary code, shall be subject to the supervision and administration
of the judicial administrative organs in the Mainland and the management of Mainland law society.

Chapter II. Internship Management

Article 6

A resident of Hong Kong or Macao who applies for practicing law in a Mainland law firm shall, according to the relevant regulations
of the Ministry of Justice, have completed internship of one year in a Mainland law firm in advance.

Article 7

A resident of Hong Kong or Macao holding the legal profession qualification who serves as an intern, shall file an application to
the judicial administrative organ of the prefecture level where the future firm of internship is located. The judicial administrative
organ shall arrange for or recommend a Mainland law firm to accept him as a legal intern.

Article 8

A resident of Hong Kong or Macao who serves as a legal intern, shall undergo the internship according to the general outline of the
practical training and the guidebook of practical drillings. He shall lay emphasis on the handling of non-litigation matters in practical
drillings, and shall abide by the provisions and disciplines on internship.

The Mainland law firms that accept Hong Kong or Macao residents as interns shall assign lawyers who are good at handling non-litigation
matters to instruct the interns in the practical drillings. Each instructing lawyer may only instruct one Hong Kong or Macao intern.

Article 9

A Hong Kong or Macao resident who serves as a legal intern in the Mainland shall ensure adequate time to complete the internship.
No one may suspend the internship for more than 3 months for any reasons. The Mainland law firm that accepts a legal intern shall
report the reason and time of the suspension of internship to the local judicial administrative organ at the place where it is located.

Article 10

A Hong Kong and Macao resident who serves as legal interns in a Mainland law firm shall be subject to the supervision and management
of the local judicial administrative organ at the place where it is located. The name list of the interns, relevant materials and
the internship evaluations shall be reported to the provincial judicial administrative organs for archival purposes.

Chapter III. Legal Profession Management

Article 11

A Hong Kong or Macao resident qualified to engage in legal practice in the Mainland may, after having completed internship in a law
firm and having been determined as qualified upon evaluation, apply for practicing law in the Mainland.

Article 12

A Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland may practice in only one Mainland law firm.

A Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland may not be employed in Hong Kong, Macao,
Taiwan or foreign law firms at the same time.

Article 13

A Hong Kong or Macao resident who applies for practicing law in the Mainland shall, in accordance with Lawyers Law and the Measures
for the Administration of Legal Professional Qualification Certificates issued by the Ministry of Justice, file an application for
a Legal Professional Qualification Certificate to the provincial judicial administrative organ where the Mainland law firm that intends
to employ him is located.

Among the documents submitted by an applicant, the copies of his identity certification and the evidential materials that demonstrate
that he has never been punished for criminal offences shall be subject to the notarization of a notary acknowledged by the Mainland,
and shall, at the same time, state the information about whether he has obtained Hong Kong, Macao, Taiwan or foreign legal professional
qualification and whether he is employed by a Hong Kong, Macao, Taiwan or Foreign law firm.

Where the provincial judicial administrative organs issue legal profession certificates upon examination, they shall, within 30 days
from the issuance of the certificates, submit to the Ministry of Justice the name list of Hong Kong and Macao residents who are admitted
to practice law in the Mainland and the legal profession registration materials for archival purposes.

Article 14

A Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland may engage in Mainland non-litigation matters
by taking the position of a legal advisor, agent, consultant or scrivener and shall enjoy the rights of a Mainland lawyer, and perform
the statutory obligations of a lawyer.

Article 15

Where a Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland satisfies the specific conditions,
he may act as a partner of a Mainland law firm.

Article 16

A Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland shall be a member of the law society of
the Mainland, shall be enpost_titled to enjoy the rights of a member, shall perform the obligations of a member, and shall take part in
the professional trainings and exchanges organized by the Mainland law society.

Article 17

Where a Hong Kong or Macao resident who is admitted to engage in legal practice in the Mainland violates the Lawyers Law or the administrative
regulations or rules governing the legal profession or any of the provisions of the present Measures shall be given a corresponding
administrative punishment. Where he violates the lawyers’ professional moral and disciplinary code, he shall be given a corresponding
sanction of the guild.

Article 18

Any functionary of the judicial administrative organs who commits any act in violation of the laws, regulations and rules shall be
given an administrative sanction. Where he constitutes a crime, the criminal liabilities shall be prosecuted for.

Chapter IV. Supplementary Provisions

Article 19

The present Measures shall be applicable to Hong Kong and Macao residents who have acquired Mainland legal professional qualification
before the implementation of the National Uniform Judicial Examination of the Mainland when they apply for completing the internship
or practicing law in Mainland law firms.

Article 20

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

Article 21

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

Ministry of Justice
2003-11-30

SUPPLEMENTARY PROVISIONS OF THE PROVISIONS ON THE ADMINISTRATION OF FOREIGN-FUNDED CONSTRUCTION ENTERPRISES

e02885

Ministry of Construction, Ministry of Commerce

Decree of the Ministry of Construction and the Ministry of Commerce

No. 121

The Supplementary Provisions of the Provisions on the Administration of Foreign-funded Construction Enterprises were deliberated and
adopted on December 9th, 2003 at the 24th executive meeting of the Ministry of Construction and the Ministry of Commerce, which are
hereby promulgated and shall come into force as of January 1st, 2004.

Wang Guangtao, Minister of the Ministry of Construction

Lv Fuyuan, Minister of the Ministry of Commerce

December 19, 2003

Supplementary Provisions of the Provisions on the Administration of Foreign-funded Construction Enterprises

With a view to promoting the development of the economic & trade relations between the Mainland and Hong Kong/Macao and to encouraging
service providers from Hong Kong and Macao to establish construction enterprises in the Mainland, the following supplementary provisions
are formulated in accordance with the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Mainland and Macao Closer
Economic Partnership Arrangement approved by the State Council, and the Provisions on the Administration of the Foreign-funded Construction
Enterprises (Decree No. 113 of the Ministry of Construction and the Ministry of Foreign Trade and Economic Cooperation):

When a service provider from Hong Kong or Macao files an application for establishing a construction enterprise, its performance records
in Hong Kong, Macao and the Mainland shall all be taken into consideration for the purpose of assessing its qualifications for establishing
such an enterprise in the Mainland. The number of its managerial and technical personnel shall be based on the actual number of personnel
in the construction enterprise established in the Mainland for its qualifications assessment.

A service provider from Hong Kong or Macao is permitted to wholly purchase a Mainland construction enterprise.

Where a construction enterprise established by a service provider from Hong Kong or Macao in the Mainland undertakes Sino-foreign
construction projects, it shall not be subject to the restrictions on Chinese and foreign investment percentages.

Where a construction enterprise invested in the Mainland by a Hong Kong provider or Macao service provider applies for a qualification
certificate, the relevant regulations of the Mainland shall be followed. If it has acquired the qualifications of a construction
enterprise, it may participate in the nationwide project tenders in pursuance of law.

Where a service provider from Hong Kong or Macao invests in establishing a construction enterprise in the Mainland and applies for
the corresponding qualifications, the Provisions on the Administration of Foreign-funded Enterprises and the relevant provisions
on the administration of the qualifications of construction enterprises shall be followed.

The terms of “Hong Kong service providers” and “Macao service providers” as mentioned in the present Supplementary Provisions shall
be in conformity with the definitions and meet the relevant requirements as respectively provided in the Mainland and Hong Kong Closer
Economic and Trade Partnership Arrangement and the Mainland-Macao Closer Economic and Trade Partnership Arrangement.

The responsibility to interpret the present Supplementary Provisions shall remain with the Ministry of Construction and the Ministry
of Commerce according to their respective functions.

The present Supplementary Provisions shall come into force as of January 1st, 2004.

Ministry of Construction, Ministry of Commerce
2003-12-19

SUPPLEMENTARY PROVISIONS ON THE ADMINISTRATION OF FOREIGN INVESTMENT IN ROAD TRANSPORT SECTOR

Ministry of Communications, Ministry of Commerce

Decree of the Ministry of Communications and the Ministry of Commerce

No.12

Supplementary Provisions on the Administration of Foreign Investment in Road Transport Sector are hereby promulgated and shall be
implemented as of January 1st, 2004.

Zhang Chunxian, Minister of the Ministry of Communications

Lv Fuyuan, Minister of the Ministry of Commerce

December 31st, 2003

Supplementary Provisions on the Administration of Foreign Investment in Road Transport Sector

With a view to promoting the establishment of a closer economic partnership between Hong Kong, Macao and the Mainland of China, and
to encouraging Hong Kong service providers and Macao service providers to set up enterprises engaging in road services in the Mainland
of China, the following supplementary provisions are hereby promulgated with respect to the Provisions on the Administration of Foreign
Investment in the Road Transport Sector, and in accordance with the Mainland-Hong Kong Closer Economic and Trade Partnership Arrangement
and Mainland-Macao Closer Economic and Trade Partnership Arrangement approved by the State Council:

As of January 1st, 2004, service providers from Hong Kong or Macao shall be allowed to set up solely funded enterprises to provide
road passenger transport services in the western areas of the Mainland of China.

As of January 1st, 2004, service providers from Hong Kong or Macao shall be allowed to set up solely funded enterprises to provide
road cargo transport services in the Mainland of China.

As of January 1st, 2004, service providers from Hong Kong or Macao shall be allowed to provide “non-stop” cargo transport services
from Hong Kong, Macao to the provinces, municipalities, and autonomous regions of the Mainland of China.

To provide “non-stop” freight services in the Mainland of China, service providers from Hong Kong or Macao must set up solely-funded,
joint-venture or cooperative enterprises in the Mainland and must obtain the license for road transport.

The “Hong Kong service providers” and “Macao service providers” as mentioned herein shall respectively meet the definition of “service
providers” and the relevant provisions in the Mainland-Hong Kong Closer Economic and Trade Partnership Arrangement and the Mainland-Macao
Closer Economic Partnership Arrangement.

Except the above-mentioned clauses, other matters shall be implemented in accordance with the Provisions on the Administration of
Foreign Investment in the Road Transport Sector.

The responsibility to interpret the present Supplementary Provisions shall remain with the Ministry of Communications and the Ministry
of Commerce.

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

Ministry of Communications, Ministry of Commerce
2003-12-31

PROVISIONS ON THE ADMINISTRATION OF THE DEVELOPMENT AND OPERATION OF URBAN REAL ESTATE

Provisions on the Administration of the Development and Operation of Urban Real Estate

CHAPTER ONE GENERAL PROVISIONS CHAPTER TWO REAL ESTATE DEVELOPERS CHAPTER THREE REAL ESTATE DEVELOPMENT AND CONSTRUCTION CHAPTER FOUR
REAL ESTATE OPERATION CHAPTER FIVE LEGAL RESPONSIBILITIES CHAPTER SIX SUPPLEMENTARY PROVISIONS

Article One In order to standardize the real estate development and operation behaviors, strengthen the supervision and administration
of urban real estate development and operation activities and promote and safeguard the healthy development of the real estate sector,
these articles are hereby formulated in accordance with the Urban Real Estate Administrative Law of the People’s Republic of China.

Article Two Real estate development and operation referred to in these articles shall mean the behaviors of real estate developers
who carry out infrastructural facilities construction, housing construction and transfer real estate development projects or sell
or lease commercial housing on the state-owned land within an urban planning zone.

Article Three Real estate developers and operators shall, in line with the principle of combining economic, social and environmental
returns, develop an overall plan, have a rational layout, conduct comprehensive development and construct supporting facilities.

Article Four The competent construction administrative authorities under the State Council shall be responsible for the work of supervising
and administering the real estate development and operation activities throughout the country.

The competent real estate development authorities of local people’s governments above the county level shall be responsible for the
work of supervising and administering the real estate development and operation activities within their respective administrative
jurisdiction.

The competent land administration authorities of the people’s government above the county level shall be responsible for the work
of land administration related to real estate development and operation in conformity with relevant laws and administrative regulations.

CHAPTER TWO REAL ESTATE DEVELOPERS

Article Five To set up a real estate developer, in addition to the need to comply with the conditions for the establishment of an
enterprise as stipulated in relevant laws and administrative regulations, the following conditions shall be met:

(1) The registered capital shall exceed RMB 1 million yuan;

(2) There shall be more than four full-time technical personnel with qualification certificates in the real estate major or the construction
engineering major and more than two full-time accountants with qualification certificates;

The people’s government at the provincial, autonomous and directly administered municipality level may, in line with local realities,
formulate provisions that exceed the conditions contained in the above paragraph regarding the registered capital and technical professionals
for the establishment of a real estate developer.

Article Six To set up a real estate developer involving foreign investment, in addition to the need to comply with the provisions
of Article Five of these rules, it shall also be imperative to go through relevant examination and approval formalities according
to the provisions of laws and administrative regulations governing foreign- invested enterprises.

Article Seven To set up a real estate developer, an application for registration shall be filed with the administrative authorities
for industry and commerce of the people’s government above the county level. The administrative authorities for industry and commerce
shall, within 30 days upon receipt of the application, grant registration if the conditions as stipulated in Article Five of these
rules are met; reasons for the refusal of registration shall be explained if such conditions are not met.

When the administrative authorities for industry and commerce examine the application for registration for the establishment of a
real estate developer, they shall solicit the opinion of the real estate development authorities at the same level.

Article Eight Within 30 days upon obtaining the business license, a real estate developer shall present the following documentation
for recordation purposes to the real estate development authorities where the registration authorities are located:

(1) A copy of the business license;

(2) The articles of association of the enterprise;

(3) The certificate of investment verification;

(4) The identity certificate of the legal representative of the enterprise;

(5) The qualification certificates and employment contracts of its technical professionals.

Article Nine The real estate development authorities shall, based upon the assets, technical professionals and development and operation
performance of a real estate developer, verify and determine the grade of qualification and quality of a recorded real estate developer.
The real estate developer shall, in line with the verified and determined grade of qualification and quality, undertake corresponding
real estate development projects. The specific methods shall be formulated by the construction administrative authorities under the
State Council.

CHAPTER THREE REAL ESTATE DEVELOPMENT AND CONSTRUCTION

Article Ten In determining a real estate development project, it shall be imperative to comply with the requirements as contained
in the overall plan for land use, the annual plan for land for construction and the annual plan for urban planning and real estate
development. If, in compliance with the State’s relevant provisions, the approval of the planning authorities is required, it shall
be imperative to make a submission for the approval of the planning authorities and incorporate the project into the annual fixed
assets investment plan.

Article Eleven In determining a real estate development project, it shall be imperative to persist in the principle of combining renovation
of existing areas with construction of new areas, attach importance to the development of sections where the infrastructural facilities
are weak, traffic is jammed, environmental pollution is serious and dilapidated housing is centered, protect and improve the urban
ecological environment, and protect historical and cultural legacy.

Article Twelve The land used for real estate development shall be obtained by transfer, with the exception of cases whereby the provisions
of laws and the State Council permit the adoption of the allocation approach.

Prior to the transfer or allocation of the land use right, the urban planning administrative authorities and the real estate development
authorities of the local people’s government above the county level shall present their written opinions regarding the following
items and form one of the basis for the transfer or allocation of the land use right:

(1) The nature, scale and development tenure of the real estate development project;

(2) The designing conditions for urban planning;

(3) The requirements for the construction of infrastructural and public facilities;

(4) Definition of the property right of infrastructural facilities after completion; and

(5) The requirements for relocation compensation and resettlement of the project.

Article Thirteen For a real estate development project, the equity fund system shall be established; the equity fund shall account
for no less than 20% of the total project investment.

Article Fourteen Development and construction of a real estate development project shall be accompanied by an overall plan for supporting
infrastructural facilities and such a plan shall be implemented based on the principle of the underground portion having priority
over the ground portion.

Article Fifteen The real estate developer shall develop and construct a project in compliance with the purpose of land use and the
time limit for development startup as agreed upon in the contract on the transfer of the land use right. Failure to start up the
project development one full year after the expiry of the time limit agreed upon in the transfer contract may lead to the imposition
of a land idling fee amounting to less than 20% of the payment for the transfer of the land use right; if development fails to start
two full years after expiry, the land use right may be taken back without compensation, with the exception, however, of the situations
in which delays are caused by force majeure, action of the government or relevant government authorities, or early stage work necessary
for starting the development process.

Article Sixteen The real estate project, developed and constructed by a real estate developer, shall conform to the provisions of
relevant laws and regulations, technical standards for construction engineering quality, safety standards, construction engineering
prospecting, designing and execution, and contractual stipulations.

The real estate developer shall be responsible for the quality of a real estate project that it develops and constructs.

Prospecting, designing, executing and supervising agencies shall undertaken corresponding responsibilities on the basis of the provisions
of relevant laws and regulations or contractual stipulations.

Article Seventeen A completed real estate development project can be delivered for use only after passing the acceptance test; no
delivery for use shall be made without the acceptance test or without having passed the acceptance test.

Upon completion of a real estate development project, the real estate developer shall file an application for the acceptance test
with the real estate development authorities of the local people’s government above the county level where the project is located.
The real estate development authorities shall, within 30 days after receipt of the application for the acceptance test, organize
such relevant authorities or agencies as engineering quality supervision, planning, fire prevention and civil air defense to conduct
the acceptance test regarding contents involving public safety.

Article Eighteen Upon completion of a cluster real estate development project like a small residential section, a comprehensive acceptance
test shall be conducted in line with the provisions of the Article Seventeen of these rules and the following requirements:

(1) The situation regarding the implementation of the urban planning and designing conditions;

(2) The situation regarding the supporting infrastructural and public facilities as required by urban planning;

(3) The situation regarding the acceptance test of the engineering quality of individual engineering projects;

(4) The situation regarding the implementation of the relocation and resettlement; and

(5) The situation regarding property management.

If cluster real estate development projects like a small residential section are developed in phases, the acceptance test may be conducted
in phases.

Article Nineteen The real estate developer shall record the main events in the course of construction of a real estate development
project in the real estate development project manual and submit it on a regular basis to the real estate development authorities
for recordation purposes.

CHAPTER FOUR REAL ESTATE OPERATION

Article Twenty To transfer a real estate development project, the conditions as contained in Articles Thirty-eight and Thirty-nine
of the Urban Real Estate Administrative Law of the People’s Republic of China shall be met.

Article Twenty-one To transfer a real estate development project, the transferor and the transferee shall, within 30 days after the
completion of the formalities for the change in registration of the land use right, present the contract on the transfer of the real
estate development project to the real estate authorities for recordation.

Article Twenty-two When a real estate developer transfers a real estate development project, if the relocation compensation and resettlement
have not been finished, the rights and obligations in the original relocation compensation and resettlement contract shall accordingly
be transferred to the transferee. The project transferor shall notify the relocated person in written form.

Article Twenty-three A real estate developer pre-sells commercial housing shall comply with the following conditions:

(1) It has paid all the fee for the transfer of the land use right and obtained the certificate of the land use right;

(2) It has the construction engineering planning license and the execution license;

(3) Calculated according to the pre-sold commercial housing made available, it has inputted over 25% of the total investment for construction
of the project and determined the execution schedule and the date for completion and delivery; and

(4) It has gone through formalities for pre-sale registration and obtained the commercial housing pre-sale permit.

Article Twenty-four When applying for commercial housing pre-sale, a real estate developer shall submit the following documentation:

(1) The certificates as stipulated in Sections (1) through (3) of Article Twenty-three of these rules;

(2) The business license and the certificate of qualification and quality;

(3) The engineering execution contract;

(4) The floor-by-floor plane map of the commercial housing to be presold; and

(5) The program for the pre-sale of commercial housing.

Article Twenty-five The real estate development authorities shall, within 10 days upon receipt of the application for commercial housing
pre-sale, make a reply agreeing or disagreeing to the pre-sale. In case of agreement to presale, a commercial housing pre-sale permit
shall be issued; and in case of disagreement to pre-sale, reasons shall be explained.

Article Twenty-six The real estate developer shall not make any untruthful advertisement; in the commercial housing pre-sale advertisement,
the document number of the commercial housing pre-sale permit.

Article Twenty-seven In the course of commercial housing pre-sales, the real estate developer shall show the commercial housing pre-sale
permit.

The real estate developer shall, within 30 days upon the signing of a commercial housing pre-sale contract, go to the real estate
development authorities and the land administrative authorities of the people’s government above the county level where the commercial
housing is located.

Article Twenty-eight For commercial housing sales, both parties shall sign a written contract. The contract shall stipulate the floor
space, usable floor area, price, delivery date, quality requirements, property management method and default responsibilities for
the commercial housing.

Article Twenty-nine Should the real estate developer entrust an intermediary to act as agent for commercial housing sales, it shall
issue an entrustment certificate to the intermediary. When the intermediary sells the commercial housing, it shall show to purchaser
of commercial housing the relevant certificates for the commercial housing and the entrustment certificate for the commercial housing
sales.

Article Thirty The price for the transfer of the real estate development project and for the sales of commercial housing shall be
negotiated through consultation between the parties concerned; however, the price for residential housing enpost_titled to the State’s
preferential policies shall be the government’s guidance price or the government-set price.

Article Thirty-one The real estate developer shall, when the commercial housing is delivered for use, present the purchaser with the
residential quality assurance certificate and the residential use instruction book.

The residential quality assurance certificate shall clearly list the quality grade verified by the engineering quality supervisory
agency, scope of warranty, period of warranty and the warranty agency. The real estate developer shall undertake the commercial housing
warranty responsibilities in line with the provisions contained in the residential quality assurance certificate.

Within the warranty period, if the original use functions are affected and losses are incurred to the purchaser due to the warranty
of the commercial housing conducted by the real estate developer, the developer shall undertake compensation responsibilities according
to law.

Article Thirty-two After commercial housing is delivered for use, if the purchaser thinks that the quality of the major structure
is sub- standard, an application may be filed with the engineering quality supervisory agency for re-verification. If verification
proves that the quality of the major structure is indeed sub-standard, the purchaser has the right to ask for refunding; if losses
have been incurred to the purchaser, the real estate developer shall under compensation responsibilities according to law.

Article Thirty-three The purchaser of pre-sold commercial housing shall, within 90 days upon delivery for use of the commercial housing,
go through the formalities for change in the land use right and the registration of house ownership; the purchaser of spot commercial
housing shall, within 90 days upon signing of the sales contract, go through the formalities for change in the land use right and
the registration of house ownership. The real estate developer shall assist the purchaser of the commercial housing in going through
the formalities for change in the land use right and the registration of house ownership and provide necessary certificates.

CHAPTER FIVE LEGAL RESPONSIBILITIES

Article Thirty-four In case of unauthorized engagement in real estate development and operation in violation of the provisions of
these rules and without the business license, the administrative authorities for industry and commerce of the people’s government
above the county level shall order the termination of real estate development and operation activities, confiscate the illegal gains,
and decide at its discretion to impose a fine amounting to less than five times the illegal gains.

Article Thirty-five In case of unauthorized engagement in real estate development and operation in violation of the provisions of
these rules and without the certificate of qualification and quality or in excess of the certificate of qualification and quality,
the real estate development authorities of the people’s government above the county shall order a time limit for corrective measures
and impose a fine amounting to between RMB 50,000 yuan and RMB 100,000 yuan; if no corrective measures are taken after the deadline,
the administrative authorities for industry and commerce shall revoke its business license.

Article Thirty-six In case of delivery for use of housing which has not gone through the acceptance test in violation of these rules,
the real estate development authorities of the people’s government above the county shall order a deadline for the developer to go
through the formalities for the acceptance test; if such formalities are not gone through after the deadline, the real estate development
authorities of the people’s government above the county shall organize relevant authorities and agency to conduct the acceptance
test and impose a fine amounting to between RMB 100,000 yuan and RMB 300,000 yuan. If the acceptance test is not passed, punitive
measures shall be taken according to the stipulations of Article Thirty-seven of these rules.

Article Thirty-seven In case of delivery for use of housing which has not passed the acceptance test in violation of these rules,
the real estate development authorities of the people’s government above the county shall order repairs within a deadline and impose
a fine amounting to less than 2% of the total building cost of the housing delivered for use; if the act is serious in nature, the
administrative authorities shall revoke the license; if losses are incurred to the purchaser, compensation responsibilities shall
be undertaken; and, if serious casualties, accidents or other serious consequences have been caused and criminal offices committed,
the criminal liabilities shall be investigated and dealt with according to law.

Article Thirty-eight In case of unauthorized transfer of a real estate development project in violation of the stipulations of these
rules, the land administration authorities of the people’s government above the county shall order a termination of the law-breaking
activities, confiscate illegal gains and decide at its discretion to impose a fine amounting to less than five times the legal gains.

Article Thirty-nine In case of unauthorized pre-sale of the commercial housing in violation of the stipulations of these rules, the
real estate development authorities of the people’s government above the county shall order a termination of the law-breaking activities,
confiscate illegal gains and decide at its discretion to impose a fine amounting to less than 1% of the already collected pre-payments.

Article Forty When any State authorities employee neglect his duties, play favoritism and commit irregularities and abuse his powers,
if criminal offenses are committed, the criminal liabilities shall be investigated and dealt with according to law; if such acts
do not constitute criminal offenses, administrative punishments shall be meted out according to law.

CHAPTER SIX SUPPLEMENTARY PROVISIONS

Article Forty-one In terms of real estate development and operation on the state-owned land inside the urban planning zone and in
terms of the exercise of supervision and administration of real estate development and operation, these rules shall be used as references.

Article Forty-two The collectively-owned land within the urban planning zone can only be used for real estate development and operation
after such land has been appropriated and converted into state-owned land according to law.

Article Forty-three These rules shall go into effect as from the date of promulgation.

IMPLEMENTING RULES OF THE REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON INTERNATIONAL MARITIME TRANSPORTATION

The Ministry of Communication

Order of the Ministry of Communication of the People’s Republic of china

No.1

The Implementing Rules of the Regulations of the People’s Republic of china on International Maritime Transportation which were adopted
at the 14th Ministerial Executive Meeting of the Ministry of Communications on December 25, 2002 are promulgated hereby, and shall
be effective as of March 1, 2003.

Minister of the Ministry of Communication Zhang Chunxian

January 20, 2003

Implementing Rules of the Regulations of the People’s Republic of china on International Maritime Transportation

Chapter I General Provisions

Article 1

These Rules are formulated in accordance with the provisions of the Regulations of the People’s Republic of China on International
Maritime Transportation ( hereinafter referred to as the Maritime Transportation Regulations).

Article 2

The Ministry of Communications and the relevant competent communications department of the people’s government in the province, autonomous
region or municipality directly under the Central Government shall, in accordance with the provisions of the Maritime Transportation
Regulations and these Rules administer the international maritime transportation business operations as well as the auxiliary business
operations relating to international maritime transportation under the principles of fairness, high efficiency and facilitation with
the purpose of encouraging fair competition and preventing illegitimate competition.

Article 3

For the purpose of the Maritime Transportation Regulations and these Rules, the definitions of the terms are as follows:

(1)

“International shipping services” shall mean the services provided by the operators of international shipping services relating to
international maritime cargo and/or passenger transportation, and/or the activities conducted relating to such operators’ vessels,
passengers or cargo for the purpose of completing such international maritime cargo and/or passenger transportation by using their
owned or operated vessels or space on board the vessels. Such services shall include the signing of the relevant agreements, accepting
of space-booking, discussing and collecting freights, issuing of bill of lading and other related transportation documents, arranging
cargo-handling and the care of the cargo, taking delivery of cargo or delivering cargo, arranging the transshipment of cargo and
the entry into and departure from ports by vessels etc.

(2)

“Operators of international shipping services” shall include the Chinese enterprise legal persons who have acquired the Permits for
Operation of International Shipping Services for operating the international shipping services according to the Maritime Transportation
Regulations, or foreign enterprises established in accordance with foreign laws who operate the international shipping services to
and from Chinese ports.

(3)

“International liner services” shall mean the regular international maritime cargo/or passenger transportation services provided between
the fixed ports by means of using the owned or operated vessels or by means of the cases specified in paragraph 3, Article 16 of
the Maritime Transportation Regulations.

(4)

“Non-vessel-operating services” shall mean the services provided in paragraph 2, Article 7 of the Maritime Transportation Regulations,
including the following activities conducted relating to the cargo transported for the purpose of completing such services :

concluding international cargo transportation contracts with the shippers in the name of carriers;

taking delivery of cargo and delivering cargo in the name of carriers;

issuing bills of lading or other transportation documents;

collecting freight and other service charges;

booking space from operators of international shipping services or contracting with operators of other means of transportation for
cargo transportation;

paying the freight of port to port transportation or other transportation charges;

unstuffing and/or cargo container consolidation;

other related activities.

(5)

“A non-vessel-operating common carrier” shall include a Chinese enterprise legal person who has acquired the license for the non-vessel-operating
services in accordance with the Maritime Transportation Regulations and these Rules, and a foreign enterprise established in accordance
with foreign laws or regulations who has acquired the qualification in accordance with the Maritime Transportation Regulations and
these Rules for non-vessel-operating services for cargo to and from Chinese ports.

(6)

“An international shipping agent” shall mean a Chinese enterprise legal person established in accordance with Chinese laws who provides
the services as specified in Article 29 of the Maritime Transportation Regulations.

(7)

“An international ship management operator” shall mean a Chinese enterprise legal person established in accordance with Chinese laws
who provides the services as specified in Article 30 of the Maritime Transportation Regulations.

(8)

“An operator of the business relating to storage and warehousing of international shipments” shall mean a Chinese enterprise legal
person established in accordance with Chinese laws who provides the services of cargo storage and custody in warehouses, cargo inventory
management, as well as sorting and packing, repacking and distributing of cargo etc.

(9)

“An operator of international maritime container freight station and container yard services” shall mean a Chinese enterprise legal
person established in accordance with Chinese laws who provides the storage, custody, cleaning, repairing of containers as well as
the storage, consolidation, distribution of container cargo.

(10)

“A foreign-invested enterprise shall mean a Chinese-foreign equity joint venture, a Chinese-foreign contractual joint venture or a
wholly foreign capital enterprise established in accordance with Chinese laws.

(11)

“A foreign-invested representative office” shall mean a non-commercial organization established according to laws within Chinese territory
by a foreign enterprise or another economic organization which conducts introduction of business, sales promotion, business consultation
and the liaison services for such a foreign enterprise or economic organization.

(12)

“Business registration documents of an enterprise” shall mean the business license or the documents certifying the registration of
an enterprise issued by the enterprises registration authority or the relevant authority of the country where the enterprise was
registered. Where the photocopies of such business registration documents are submitted, a confirmation on such photo-copies about
the truthfulness of such photocopies by the registration authority or notary documents certifying the identity between the photocopies
and the originals shall be provided at the same time.

(13)

“A special-purpose invoice” shall mean the bills approved and uniformly printed by the State Administration of Taxation. It is a receipt
which certifies the payment of the freights or other related charges by the payer to the operator of international shipping services
or its agents, or to the non-vessel-operating carrier or its agents. Such an invoice shall include the Special Invoice for International
Shipping and the Special Invoice for International Shipping Agency.

(14)

“An agreement of liner conference” shall mean the kind of agreement concluded between members of a liner conference or between liner
conferences, which is defined in the UN Convention on A Code of Conduct for Liner Conferences, 1974.

(15)

“An operational agreement” shall mean an agreement relating to the increase or decrease of shipping capacity in one or more shipping
routes concluded between two or more than two international operators of international liner services for the purpose of stabilizing
or controlling the freight rates, or other agreement coordination the joint efforts of operators of international liner ser-vices.
Such an agreement includes the agreed minutes with the natures of the above-mentioned agreement. Such an agreement shall also mean
the agreement relating to the joint operation of the vessels, joint usage of the port facilities and other cooperative operation
agreement and various kinds of alliance or consortia agreements concluded between two or more than two operators of international
liner services for the purpose of improving the operational efficiency.

(16)

“A freight rate agreement” shall mean an agreement relating to the kinds of charges to be collected, the rates thereof, the freight
rates or surcharges etc. which is concluded between two or more than two operators of international liner services. Such an agreement
shall also include the agreed minutes with the natures of the above-mentioned agreement.

(17)

“Tariff rates” refer to the freight rates provided in the tariff book of international liner services operators and non-vessel-operating
common carriers. Such rates include the freight rates, the rules related to the freight rates and the rules which shall be complied
with both by carriers and shippers.

(18)

“Negotiated rates” refer to the freight rates agreed upon between international liner services operators and shippers or non-vessel-operating
common carriers. Such rates shall include the freight rates and the related elements. Negotiated rates shall be concluded in the
form of written contracts or agreements.

(19)

“Documents certifying the business experience” refer to the curriculum vitae certifying that the person to be certified has more than
three years’ experience in the international shipping services and the auxiliary businesses thereof. The curriculum vitae shall be
notarized by a notary office.

Chapter II Operators of International Shipping Services and Auxiliary Businesses thereof

Article 4

The criteria specified in Article 5 in the Maritime Transportation Regulations shall be satisfied and the policies of the State for
the development of international shipping industry and the actual competition situations in international shipping market issued
by the Ministry of Communications shall be considered before an enterprise can be set up within the Chinese territory to operate
the international shipping services or before a Chinese enterprise legal person can apply to operate the international shipping services.

The Ministry of Communications shall publish the policies of the State for the development of international shipping industry and
the actual competition situations in international shipping market at its official website and the other appropriate media. Where
the above-mentioned policies or situations fail to be published, they shall not be used as the reasons for the refusal of applications.

Article 5

The applicant shall make an application and submit the relevant documents to the Ministry of Communications for applying to set up
an enterprise within the Chinese territory to operate international shipping services, or, for applying to operate international
shipping services when such an applicant is a Chinese enterprise legal person. A duplicate of the same documents shall be sent to
the competent communications department of the people’s government of the province, autonomous region or municipality directly under
the Central Government where the enterprise is or is to be registered, as the case may be. The following application documents shall
be included:

(1)

the letter of application;

(2)

the feasibility study report and the agreement of investment;

(3)

the business registration document of the applicant (if applying to set up an enterprise, the main investor’s business registration
document or, as the case may be, the identity document) ;

(4)

the duplicate or photocopy of the vessel’s ownership document, nationality document or inspection document;

(5)

the sample of bill of lading, passage ticket or multi-modal transport documents; and

(6)

the documents certifying the business experience of the senior executives who satisfy the requirements of the Ministry of Communications.

The competent communications department of the people’s government of the province, autonomous region or municipality directly under
the Central Government shall give its comments thereon upon the acceptance of the documents and submit its comments to the Ministry
of Communications within 10 working days from the date of acceptance of the application.

The Ministry of Communications shall, within 30 working days from the date when the application documents are complete and authentic,
complete the examination and verification and make a decision of granting or not granting permission in accordance with Article 5
and 6 of the Maritime Transportation Regulations. If the permission is granted, a Permit for Operation of International Shipping
Services shall be issued to the applicant, or, if no permission is granted, the applicant shall be notified in writing and given
the reasons therefor.

Article 6

If a Chinese operator of international shipping services applies to set up a branch within Chinese territory, the provisions relating
to the procedures as specified in Article 5 of these Rules shall apply. The following application documents shall be included:

(1)

the letter of application;

(2)

the feasibility study report;

(3)

the business registration document of the parent company;

(4)

the photocopy of the Permit for Operation of International Shipping Services of the parent company;

(5)

the letter of confirmation by the parent company of the business scope of the branch; and

(6)

the documents certifying the business experience of the senior executives who satisfy the requirement of the Ministry of Communications.

The branches of the Chinese operators of international shipping services may provide the services to the vessels of the parent company
with regard to port entry and departure, arranging for the port handling, accepting of space booking, issuing of bill of lading and
collecting of freight etc.

Article 7

If applying to set up of an enterprise legal person within Chinese territory to operate international shipping agency services or
to operate international shipping agency services, an application shall be submitted to the Ministry of Communications, and the relevant
documents shall be attached thereto. The same documents shall be submitted to the competent communications department of the people’s
government of the province, autonomous region or municipality directly under the Central Government where the enterprise is or is
to be registered, as the case may be. The application documents shall include the following:

(1)

the letter of application;

(2)

the feasibility study report and the agreement of investment;

(3)

the business registration document of the applicant (if applying to set up an enterprise, the main investor’s business registration
document or, as the case may be, the identity document) ;

(4)

the document certifying that there is a fixed place of business;

(5)

the documents certifying the business experience of the senior executives as specified in subparagraph 1 of Article 9 of the Maritime
Transportation Regulations; and

(6)

the agreement of having EDI with the ports and customs etc. If there is no such EDI arrangement, the certifying document issued by
the relevant port or customs shall be provided.

The competent communications department of the people’s government of the province, autonomous region or municipality directly under
the Central Government shall give its comments thereon upon the acceptance of the documents and submit its comments to the Ministry
of Communications within 7 working days from the date of acceptance of the application.

The Ministry of Communications shall, within 15 working days from the date when the application documents are complete and authentic,
complete the examination and verification in accordance with Article 9 of the Maritime Transportation Regulations. If the application
documents are examined and verified as qualified, the registration shall be granted and a Registration for Operation of International
Shipping Agency Services shall be issued to the applicant. If the application documents are examined and verified as unqualified,
the applicant shall be notified in writing and given the reasons therefor. The applicant shall, go through the enterprise registration
procedures at the enterprise registration authority by holding the Registration for Operation of International Shipping Agency Services
issued by the Ministry of Communications and the relevant procedures at the customs, taxation and foreign exchange administration
authorities.

Article 8

If a Chinese enterprise legal person applies to operate international ship management services or to set up an enterprise within Chinese
territory to operate international ship management services, an application shall be submitted to the competent communications department
of the people’s government of the province, autonomous region or municipality directly under the Central Government. The following
application documents shall be included:

(1)

the letter of application;

(2)

the feasibility study report and the agreement of investment;

(3)

the business registration document of the applicant (in case of applying to set up an enterprise, the main investor’s business registration
document or, as the case may be, the identity document) ;

(4)

the document certifying that there is a fixed place of business;

(5)

the documents certifying the business experience of the senior executives as specified in subparagraph 1 of Article 11 of the Maritime
Transportation Regulations; and

(6)

the photocopies of the master, the chief engineer’s documents of competence as specified in subparagraph 2 of Article 11 of the Maritime
Transportation Regulations.

The competent communications department of the people’s government of the province, autonomous region or municipality directly under
the Central Government shall, within 15 working days from the date when the application documents are complete and authentic, complete
the examination and verification. If the application documents are examined as authentic and satisfy the provisions in Article 11
of the Maritime Transportation Regulations, the registration shall be granted and a Registration for Operation of Auxiliary Businesses
Relating to International Maritime Transportation shall be issued to the applicant. If the application documents are examined and
verified as inauthentic or if the application fails to satisfy the conditions specified in Article 11 of the Maritime Transportation
Regulations, no registration shall be granted and the applicant shall be notified in writing and given the reasons therefor. The
applicant shall, go through the enterprise registration procedure at the enterprise registration authority, the relevant procedures
at the taxation authority and the banks designated by the foreign exchange administration authority with the Registration for Operation
of Auxiliary Businesses Relating to International Maritime Transportation.

Article 9

If the branches set up by the operators of international shipping agency services and international ship management services within
Chinese territory to operate the relevant services, the criteria specified in Article 9 and 11 of the Maritime Transportation Regulations
shall be satisfied and registration shall be conducted in accordance with the provisions in Article 10 and 12 of the Maritime Transportation
Regulations, Article 7 and 8 of these Rules. The following documents for registration shall be included :

(1)

the letter of application;

(2)

the feasibility study report;

(3)

the business registration document of the parent company;

(4)

the photocopies of Registration for Operation of International Shipping Agency Services or Registration for Operation of Auxiliary
Businesses Relating to International Maritime Transportation of the parent company;

(5)

the letter of confirmation by the parent company of the business scope of the branch;

(6)

the document certifying that there is a fixed place of business;

(7)

the documents certifying the business experience of staff as specified Article 9 and 11 of the Maritime Transportation Regulations;
and

(8)

the EDI agreement with the port and the customs authorities in case of setting up branches by an operator of international shipping
agency services. If there is no EDI capability, the relevant certifying document issued by the port or the customs authority shall
be submitted.

Article 10

An application and the documents specified in Article 17 of the Maritime Transportation Regulations shall be submitted to the Ministry
of Communications when an operator of international shipping services applies to engage in the international liner services to and
from Chinese ports. The Ministry of Communications shall carry out the examination and verification as specified in Article 17 of
the Maritime Transportation Regulations. If a registration is granted, a Registration of International liner Services Qualification
shall be issued. If no registration is granted when the application documents are inauthentic and incomplete, the applicant shall
be notified in writing and given the reasons therefor.

The Ministry of Communications will list the name of the operator of the international liner services and the bill of lading thereof
at its official website after the operator of international shipping services has acquired the qualification for engagement of the
international liner services to and from Chinese ports.

Article 11

An application and the relevant documents shall be submitted to the Ministry of Communications in case of applying for the registration
of a non-vessel-operating common carrier’s bill of lading. A duplicate of the above-mentioned documents shall be submitted at the
same time to the competent communications department of the people’s government of the province, autonomous region, municipality
directly under the Central Government where the non-vessel-operating common carrier is registered, or, in case of application for
registration of a bill of lading by a foreign non-vessel-operating common carrier, to the competent communications department of
the people’s government of the province, autonomous region or municipality directly under the Central Government where the liaison
office appointed by such non-vessel-operating common carrier is registered. The following application documents shall be included:

(1)

the letter of application;

(2)

the feasibility study report;

(3)

the business registration document;

(4)

the sample of bill of lading;

(5)

the photocopy of the receipt certifying that the surety bond has been deposited at the bank.

If the applicant is a foreign non-vessel-operating common carrier, the relevant documents specified in Article 25 of these Rules
which relate to its appointed liaison office shall be submitted as well.

The competent communications department of the people’s government of the province, autonomous region or municipality directly under
the Central Government shall complete the examination, verification and give its comments on the application documents after the
acceptance of the above-mentioned duplicate. Such communications department shall report its comments to the Ministry of Communications
within 7 working days after the acceptance of the application documents.

The Ministry of Communications shall complete the examination and verification specified in Article 7 and 8 in the Maritime Transportation
Regulations within 15 working days after the acceptance of the complete application documents. If the application documents are authentic
and complete, the registration of the bill of lading shall be granted and a Registration of Non-Vessel-Operating Services Qualification
shall be issued. If the application documents are inauthentic and incomplete, the applicant shall be notified in writing that no
registration is granted and the reasons therefor shall be given.

After acquiring a Registration of Non-Vessel-Operating Services Qualification, a Chinese applicant shall go through the registration
procedure at the enterprise registration authority where it is registered before starting the non-vessel-operating services.

Article 12

If a foreign non-vessel-operating common carrier has acquired the qualification for the non-vessel-operating services in accordance
with foreign laws and has obtained a legal financial liability guaranty, it does not need to deposit the surety bond at the bank
within Chinese territory when it applies to engage in the non-vessel-operating services to and from Chinese ports in accordance with
the Maritime Transportation Regulations and these Rules. However, in order to ensure that the debt to be paid which is incurred from
the foreign non-vessel-operating common carrier’s non-performance or improper performance of the carrier’s responsibility, or, in
order to ensure that the fine to be paid which is incurred from such non-vessel-operating common carrier’s non-performance or improper
performance satisfy the provisions in paragraph 3 of Article 8 of the Maritime Transportation Regulations, the competent authority
of such a foreign non-vessel-operating common carrier shall sign an agreement relating to the ways or means of realizing the financial
liability guaranty with the Chinese governmental transport authority.

Article 13

When the cargo is solicited, the bill of lading or other transport document is issued, or the freight is collected within Chinese
territory, although there is no direct international liner services to and from Chinese ports, the qualification of the non-vessel-operating
services shall be obtained in accordance with the relevant provisions of these Rules if the international cargo transportation services
to and from Chinese ports is provided by way of chartering space from vessels of operators of international liner services, or, if
cargo is shipped at Chinese ports for transshipment at foreign ports by using the feeder service provided by operators of international
liner services, with the exception of the cases specified in paragraph 3 of Article 16 of the Maritime Transportation Regulations.

Article 14

If a Chinese non-vessel-operating common carrier applies to set up a branch within Chinese territory, the surety bond shall be deposited
in accordance with paragraph 2 of Article 8 of the Maritime Transportation Regulations and the registration shall be obtained in
accordance with Article 11 of these Rules by acquiring the Registration of Non-Vessel-Operating Services Qualification. The following
documents shall be submitted for applying for the registration:

(1)

the letter of application;

(2)

the business registration document of the parent company;

(3)

the photocopy of the Registration of Non-Vessel-Operating Services Qualification of the parent company;

(4)

the document confirming the business scope of the branch by the parent company;

(5)

the photocopy of the receipt certifying that the surety bond has be deposited at the bank.

Article 15

When the non-vessel-operating common carrier applies for the registration of the bill of lading, the name listed at the post_title of the
bill of lading shall be the same as that of the applicant.

If the name listed in the post_title of the bill of lading is different from that of the applicant, the applicant shall provide the documents
certifying that such a bill of lading is printed and used by itself as well as a declaration in writing that it will bear the carrier’s
responsibility of issuing such a bill of lading.

Article 16

If a non-vessel-operating common carrier has two or more bills of lading, each of the bills of lading shall be registered.

If the bill of lading registered by an operator of international liner services or non-vessel-operating common carrier is changed,
the sample of the new bill of lading shall be filed with the Ministry of Communications 15 days before the date of usage of such
a new bill of lading.

Article 17

After the non-vessel-operating common carrier acquires according to law the qualification for the non-vessel-operating services by
depositing the surety bond and registering the bill of lading, the Ministry of Communications shall list the name of the non-vessel-operating
common carrier and the sample of its bill of lading at its official website.

Article 18

A non-vessel-operating common carrier shall deposit according to law the surety bond at the non-vessel-operating common carrier’s
bank account at the commercial bank designated by the Ministry of Communications. The interest of the surety bond shall be calculated
on the basis of the interest rate of the current deposit published by the People’s Bank of China.

Article 19

The surety bond deposited by the non-vessel-operating common carrier is protected by the State laws. The surety bond shall not be
used unless for the following cases:

(1)

bearing the liability for compensation due to the non-vessel-operating common carrier’s non-performance or improper performance of
carrier’s responsibility according to a judgement in force by a judicial organ or an arbitration institution’s arbitration award
ruled by a judicial organ to be enforced;

(2)

being fined by the communications authorities.

If the surety bond shall be transferred due to the cases referred to in subparagraph 1 and 2 of the previous paragraph, it shall be
carried out according to laws.

If the amount of surety bond of the non-vessel-operating common carrier falls short of the amount specified in the Maritime Transportation
Regulations, the Ministry of Communication shall inform the non-vessel-operating common carrier to make up the amount in short. If
the non-vessel-operating common carrier fails to make up the amount in short within 30 days from the date of service of the notice
in writing from the Ministry of Communications, the Ministry of Communication shall revoke its qualification of the non-vessel-ope

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON DOMESTIC INSTITUTIONS USING RENMINBI AS PRICING CURRENCY IN FOREIGN TRADES

The State Administration of Foreign Exchange

Circular of the State Administration of Foreign Exchange on Domestic Institutions Using Renminbi as Pricing Currency in Foreign Trades

HuiFa [2003] No.29

March 3, 2003

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

In response to requests from some domestic institutions to use Renminbi as pricing currency in foreign trade agreements and with a
view to promoting smooth development of foreign trade and to further strengthening capacity of international competition of domestic
institutions by adopting more flexible method of settlement in foreign trade transactions, the Circular on relevant provisions is
hereby issued after consideration:

The domestic institutions may use Renminbi as pricing currency in signing import/export contracts.

II.

Where domestic institutions use Renminbi as pricing currency in export contracts, the foreign exchange shall be duly collected in
whole at the exchange rate quoted by the bank on the date of settlement in the course of handling procedures of collecting export
foreign exchange earnings.

III.

Where domestic institutions use Renminbi as pricing currency in import contracts, the payment to foreign party shall be made in foreign
exchange in any of the currency listed by domestic banks after converting the amount of Renminbi stipulated in the contract at the
exchange rate quoted by the bank on the date of settlement in the course of handling procedures of payment to foreign parties under
the import business.

IV.

Where domestic institutions use Renminbi as pricing currency in contracts and in making Customs declarations, they shall handle verification
procedures for export collection and import payment of foreign exchange in accordance with relevant regulations.

The Circular shall enter into force as of the date of its promulgation.

Upon receipt, all branches shall promptly transmit the Circular to their respective subordinate sub-branches and concerned units while
all Chinese-capital designated banks of foreign exchange shall promptly transmit it to their branches and sub-branches. Please feedback
timely to the State Administration of Foreign Exchange any problems encountered in the course of implementation of the Circular.

The State Administration of Foreign Exchange
2003-03-03

SUPPLEMENTARY CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION CONCERNING THE PREFERENTIAL POLICY OF ENTERPRISE INCOME TAX FOR ENTERPRISES WITH FOREIGN INVESTMENT WITH ADDITIONAL INVESTMENT

The State Administration of Taxation

Supplementary Circular of the State Administration of Taxation Concerning the Preferential Policy of Enterprise Income Tax for Enterprises
with Foreign Investment with Additional Investment

GuoShuiHan [2003] No.368

March 28, 2003

For the purpose of implementing the Circular of the State Administration of Taxation and Ministry of Finance Concerning the Preferential
Policy of Enterprise Income Tax for Enterprise with Foreign Investment with Additional Investments (CaiShuiZi [2002] No.56), some
related issues are hereby further specified:

About the scope of hortative items

According to the provisions of the Circular of the State Administration of Taxation on Implementation of New Guidance Catalogue for
Foreign-invested Industries, the hortative items stipulated in the CaiShuiZi [2002] No.56 refer to the foreign investment items with
additional investments approved before April 1, 2002, which are regarded as the hortative items and Limited-type B listed in the
Guidance Catalogue for Foreign-Invested Industries promulgated by the former State Development and Plan Commission and other relative
departments in 1997. The foreign-invested items with additional investments that are approved after April 1, 2002 are regarded as
the hortative items specified in the Guidance Catalogue for Foreign-invested Industries promulgated by the former National Development
and Plan Commission and other relative departments in 2002.

II.

About calculation of the incremental registered capitals after multiple additional investments

All the production items formed through multiple additional investments after initial investment of an enterprise with foreign ivestment,
which have not enjoyed any preferential treatment of fixed-term abatement or exemption of taxes (except for the additional investments
that have not formed production items) may be merged into one item for calculating the its new incremental registered capital. If
this new incremental registered capital meets with the requirements specified in Article 1 of CaiShuiZi [2002] No.56, it may enjoy
preferential treatment of fixed-term abatement or exemption of taxes for the independent item after the merge.

III.

About calculation of original registered capital

The “original registered capital” specified in CaiShuiZi [2002] No.56 refers to the registered capital formed before the enterprise
with foreign ivestment inputs additional investments on the new production items or on the merged items specified in Article 2 of
this Circular.

IV.

About calculation of preferential periods of abatement or exemption of taxes for the additional investments

For the production item formed from merging multiple additional investments of an enterprise with foreign ivestment, which enjoys
a preferential treatment of fixed-term of tax abatement or exemption according to Article 2 of this Circular, the preferential period
shall be calculated from the year in which the enterprise begins to obtains profits from the production item formed since the first
additional investment. The enterprise shall begins to enjoy the residual preferential treatments in the preferential period of tax
abatement or exemption from the year in which the additional investments reach the requirements specified in CaiShuiZi [2002] No.56.

The State Administration of Taxation
2003-03-28

REGULATIONS ON THE MANAGEMENT OF FOREIGN-FUNDED URBAN PLANNING SERVICE ENTERPRISES

Regulations on the Management of Foreign-funded Urban Planning Service Enterprises

Decree of the Ministry of Construction and the Ministry of Foreign Trade and Economic Cooperation,

No 116

The Regulations on the Management of Foreign-funded Urban Planning Service Enterprises, deliberated and ratified at the 65th executive
meeting of the Ministry of Construction on December 13th, 2002 and the 2nd working meeting of the minister of Foreign Trade and Economic
Cooperation on January 30th, 2003, is hereby promulgated for implementation as of May 1st, 2003.

Wang Guangtao, Minister of Construction

Shi Guangsheng, Minister of Foreign Trade and Economic Cooperation

February 13th, 2003

Regulations on the Management of

Foreign-funded Urban Planning Service Enterprises

Article 1 Pursuant to the Law of the People’s Republic of China on Foreign-funded Enterprises , the Law of the People’s Republic of
China on Sino-foreign Equity Joint Ventures , the Law of the People’s Republic of China on Sino-foreign cooperative Joint Ventures
, and the Law of the People’s Republic of China on Urban Planning , the current Regulations is hereby formulated to expand the
scope of opening to the outside; regulate foreign companies, enterprises and other economic entities or individuals investing in
enterprises providing services to urban planning; and strengthen management of the activities of urban planning services provided
by foreign-funded urban planning service enterprises.

Article 2 The Regulations applies to those setting up foreign-funded urban planning service enterprises within the boundary of the People’s
Republic of China and applying for the Certificate of Qualification of Foreign-funded Enterprises for Urban Planning Services
, and to the supervision and management of foreign-funded urban planning service enterprises.

Article 3 The foreign-funded urban planning service enterprises as referred to in the current Regulations include Sino-foreign equity joint
ventures, Sino-foreign cooperative joint ventures, and ventures with exclusive foreign investment that are set up in the People’s
Republic of China in accordance with law to provide services to urban planning.

The term ‘urban planning service’ as used in the current Regulations refers to provide drawing and consulting services to urban
development plans other than general planning.

Article 4 All foreign companies, enterprises, other economic entities or individuals engaged in urban planning services in China shall set
up Sino-foreign equity joint ventures, Sino-foreign cooperative joint ventures, or ventures with exclusive foreign investment and
apply for the Certificate of Qualification of Foreign-funded Enterprises for Urban Planning Services .

Those have not been granted the Certificate of Qualification of Foreign-funded Enterprises for Urban Planning Services shall
not take up the business of urban planning services.

Article 5 The department responsible for the management of foreign trade and economic cooperation under the State Council shall take charge
of management of establishment of foreign-funded urban planning service enterprises, while the department responsible for construction
under the State Council shall take charge of management of qualification of foreign-funded urban planning service enterprises.

The departments responsible for foreign trade and economic cooperation under the people’s governments at the provincial, autonomous
regional and municipal governments under the direct leadership of the central government shall take charge of preliminary examination
of establishment of foreign-funded urban planning service enterprises in their respective administrative areas, and departments responsible
for urban planning under people’s governments at and above the county level shall take charge of supervision and management of the
urban planning service activities carried out by foreign-funded urban planning service enterprises in their respective administrative
areas.

Article 6 Apart from meeting requirements set in relevant Chinese laws and regulations on foreign-funded enterprises, the following requirements
shall be met for the establishment of foreign-funded urban planning service enterprises:

1. The foreign party shall be an enterprise or professional specializing in urban planning services in its resident country
or region.

2. The applicant shall own more than 20 employees specializing in urban planning, architecture, road transportation, gardening
and related disciplines, with foreign specialists accounting for no less than 25 percent of the total, and have at least one foreign
technician specializing in urban planning, architecture, road transportation, and gardening respectively.

3. The applicant shall have technical apparatus and fixed working site as stipulated by the State.

Article 7 Those applying for establishing foreign-funded urban planning service enterprises shall apply, in accordance with law, to the
State Administration of Industry and Commerce or local administrations of industry and commerce with authorization from the State
Administration of Industry and Commerce for examination and approving the post_titles of the foreign-funded enterprises they plan to set
up.

Article 8 After passing examination and receiving approval of the post_titles of the foreign-funded enterprises it plans to set up, the applicant
shall apply to the departments of the provincial, autonomous regional or people’s municipal government under the direct leadership
of the central government in charge of foreign trade and economic cooperation in the region where the enterprise is to be located
for the establishment. it shall submit the following documents:

1. The application for the establishment of a foreign-funded enterprise signed by the legal representative of the investing
party.

2. The feasibility study report, project proposal and plan on the establishment of the enterprise (including staffing of specialists,
plan on technical equipment, and area of the working site) produced or approved by the investing party.

3. The contract and rules of the foreign-funded enterprise signed by the legal representative of the investing party (or rules
only, in the case of an enterprise with exclusive foreign investment).

4. Notice of pre-approval on the post_title of the enterprise to be set up.

5. Certificate of legal person registration of the investing party and certificate of the credit provided by the bank of the
investing party.

6. Documents and certificates of appointment of the chairman, board members, managers, and leading engineers or technicians
to be appointed by the investing party.

7. The balance sheets and statements of loss and gain of the investing party during the latest three years as audited by a
chartered accountant or an accountant firm.

8. Certificate of registration and certificate of bank credit of the urban planning service enterprise(s) run by the foreign
investing party in its country or region.

9. Certificates of experiences and achievements of the foreign investing party in urban planning services produced by responsible
government departments or associations, societies, or notary organs in the residential country or region of the said party.

Article 9 The department under provincial, autonomous regional or people’s municipal governments under the direct leadership of central
government in charge of foreign trade and economic cooperation shall complete preliminary examination within 30 days after receiving
an application and submit its approval to the State Council department in charge of foreign trade and economic cooperation.

Article 10 The State Council department in charge of foreign trade and economic cooperation shall submit the application documents that have
passed preliminary examination and approval to the State Council department in charge of construction for soliciting the comments
within 10 days. The State Council department in charge of construction shall put forward its opinion within 30 days after receiving
the application documents. Within 30 days after receiving the written opinion of the State Council department in charge of construction,
the State Council department in charge of foreign trade and economic cooperation shall make a decision of approval or disapproval.
In the case of approval, a certificate of approval shall be issued; and in the case of disapproval, a written explanation shall be
given.

Article 11 After receiving the Certificate of Approval of Foreign-funded Enterprise, the applicant shall register with an administration
of industry and commerce in accordance with law to get a business license.

Article 12 After receiving a legal person business license, the applicant shall apply to the State Council department in charge of construction
for the Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises .

Article 13 The following documents shall be supplied for application for the Certificate of Qualification for Urban Planning Services for
Foreign-funded Enterprises :

1. Form of Application for the Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises ;

2. Certificate of Approval of Foreign-funded Enterprise;

3. Business license for enterprise legal person;

4. Contract of employment of technicians and specialists and certificates of technical qualifications of these people put on
file in labour and personnel departments;

5. Documents about the technical equipment of the enterprise.

Article 14 The foreign-funded urban planning service enterprise shall report, within 30 days after receiving the Certificate of Qualification
for Urban Planning Services for Foreign-funded Enterprises , to the urban planning administration in the city or county of its registered
for the record.

Article 15 The foreign-funded urban planning service enterprise that contracts for urban planning services in areas other than that of its
registration shall report to the urban planning administrations of these areas for the record.

Article 16 All the documents submitted by the applicant shall be written in Chinese. If any document of certification is written in a foreign
language, a Chinese version shall be supplied.

Article 17 Foreign-funded urban planning service enterprises shall abide themselves by pertinent Chinese laws, regulations, and technical
standards and norms when providing urban planning services.

Article 18 The foreign technicians employed by foreign-funded urban planning service enterprises shall stay in China for a total length of
no less than 6 months per person a year.

Article 19 The State Council department in charge of construction shall carry out annual checks to the foreign-funded urban planning service
enterprises that have received the Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises . Those
found unqualified shall have their Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises revoked.

Article 20 Chinese units that have received the Certificate of Qualification for Compilation of Urban Planning shall hand in the Certificate
when they are restructured into Sino-foreign equity or cooperative joint ventures specializing in urban planning services.

Article 21 Foreign-funded urban planning service enterprises shall hand in their Certificate of Qualification for Urban Planning Services
for Foreign-funded Enterprises when they stop operations or are disbanded or terminated.

Article 22 It is strictly forbidden to entrust any businesses of urban planning services to foreign-funded enterprises that have not granted
the Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises .

It is strictly forbidden to entrust any businesses of service to general urban planning to foreign-funded enterprises.

Article 23 Those that contract for urban planning services without the Certificate of Qualification for Urban Planning Services for Foreign-funded
Enterprises shall be ordered by the construction administrations of people’s governments at or above the county level to stop their
illegal activities, together with a penalty above RMB10,000 yuan and below RMB30,000 yuan. Their achievements shall not be acknowledged
by any department.

Article 24 Those foreign-funded urban planning service enterprises that provide services to compilation of general urban planning in violation
of the current Regulations shall be ordered by the construction administrations of people’s government at or above the county level
to mend themselves. Those involved in severe cases shall have their Certificate of Qualification for Urban Planning Services for
Foreign-funded Enterprises withdrawn by the original issuer.

Those foreign-funded urban planning service enterprises that obtain the Certificate of Qualification for Urban Planning Services
for Foreign-funded Enterprises through fraud and deception shall have their Certificate withdrawn by the issuer.

After withdrawing a Certificate, the issuer shall inform the registration department concerned of the case. The enterprise whose
certificate has been withdrawn shall apply to the original department of registration for cancellation of its registration. Those
that refuse to go through cancellation formalities shall be handled by registration departments in accordance with law.

Article 25 Those that entrust urban planning services or general urban planning services to foreign-funded enterprises that have not got
the Certificate of Qualification for Urban Planning Services for Foreign-funded Enterprises in violation of the current Regulations
shall be corrected by their senior departments, with administrative responsibilities to be affixed upon the person responsible in
accordance with law. If a crime is committed, criminal responsibilities shall be found out in accordance with law.

Article 26 The current Regulations shall be interpreted by the State Council department in charge of construction and the State Council department
in charge of foreign trade and economic cooperation according to their respective functions.

Article 27 Investors from the Hong Kong Special Administrative Zone, the Macao Special Administrative Zone, and Taiwan area coming to run
urban planning service enterprises on the mainland shall be handled with reference to the current Regulations.

Article 28 The current Regulations shall take effect as of May 1, 2003.

To be sent to: The Law Committee of the National People’s Congress, the Law Office of the State Council, the Editorial Office
of the Gazette of the State Council, the construction commissions and bureaus of foreign trade and economic cooperation of people’s
governments at the provincial, autonomous regional and municipal level, the construction commission of cities as independent entries
in State plans and budgets, ministries and commissions of the State Council, and leaders, bureaus, and subsidiary institutions of
the Ministry of Construction.

Secretariat of the General Office of the Ministry of Construction

Printed and issued on February 20th, 2003

INTERIM PROVISION ON THE ESTABLISHMENT OF FOREIGN HOLDING AND WHOLLY FOREIGN-OWNED TRAVEL AGENCIES

The State Administration of Tourism, the Ministry of Commerce

Decree of the State Administration of Tourism of the People’s Republic of China and the Ministry of Commerce of the People’s Republic
of China

No.19

The Interim Provisions on the Establishment of Foreign Holding and Wholly Foreign-owned Travel Agencies are hereby promulgated upon
review and adoption at the director-general work meeting of the State Administration of Tourism of the PRC on May 19, 2003 and at
the second ministerial executive meeting of the Ministry of Commerce of the P.RC on June 10, 2003.

Director-General of the State Administration of Tourism He Guangwei

Minister of the Ministry of Commerce Lu Fuyuan

June 12, 2003

Interim Provision on the Establishment of Foreign Holding and Wholly Foreign-owned Travel Agencies

Article 1

In order to adapt to new situation upon China’s accession to the WTO and further open tourism to the outside world and promote the
development of travel agency industry, the Provision is formulated in accordance with the relevant laws and regulations of China
on foreign-invested enterprises, the Regulation on Travel Agency Management and the relevant provisions.

Article 2

The Provision is applicable to the foreign holding and wholly foreign-owned travel agencies established in China during transition
period prior to the scheduled term committed by China upon its accession to the WTO.

Article 3

The foreign investor for establishing a foreign holding agency shall be eligible for the following conditions:

(1)

Being a travel agency or an enterprise mainly undertaking tourism;

(2)

With total annual amount of tourism more than USD40m;

(3)

Being a member of the national (regional) association of tourism;

(4)

Being in good international credit with advanced management experience of travel agency;

(5)

Abiding by Chinese laws and the relevant Chinese regulations of tourism.

Article 4

For the foreign investor of wholly foreign-owned travel agency, besides meeting the conditions prescribed in Article 3 (1), (3),
(4) and (5) of the Provision, the annual total amount of tourism prescribed in (2) should be more than USD500m.

Article 5

The Chinese investor of a foreign holding agency shall meet the conditions prescribed in Article 29 of the Regulation of Travel Agency
Management.

Article 6

The foreign holding and wholly foreign-owned travel agency to be established shall meet the following conditions:

(1)

In compliance with development planning of tourism;

(2)

In compliance with the requirements of tourist market;

(3)

With investors meeting the conditions prescribed in Articles 3, 4 and 5 of the Provision; and

(4)

With registered capital no less than RMB4m.

Article 7

The eligible foreign investor can establish a foreign holding and wholly foreign-owned travel agency in the national tourist and holiday
area approved by the State Council and 5 cities, including Beijing, Shanghai, Guangzhou, Shenzhen and Xi’an.

Article 8

In general, for an investor applying for establishing foreign holding and wholly foreign-owned travel agencies, only one agency will
be approved.

Article 9

The Application for establishing foreign holding and wholly foreign-owned travel agencies shall be processed by reference with the
procedure for examining and approving of foreign-invested travel agencies as specified in the Regulation of Travel Agency Management.

Article 10

The foreign holding and wholly foreign-owned travel agencies may not directly or in disguise engage in tourism businesses relating
to going abroad of Chinese citizen or Chinese people in other regions going to Hong Kong, Macao, and Taiwan regions.

Article 11

The responsibility for interpretation of the Provision shall be vested with the State Administration of Tourism and the Ministry of
Commerce.

Article 12

The Provision shall come into force 30 days after their promulgation.

The State Administration of Tourism, the Ministry of Commerce
2003-06-12

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Russia Laws

The basic law

Concluding and Transitional Provisions

LAW OF THE PEOPLE’S REPUBLIC OF CHINA ON ROAD TRAFFIC SAFETY

MEASURES FOR THE MANAGEMENT OF RESIDENTS OF HONG KONG AND MACAO SPECIAL ADMINISTRATIVE REGIONS HOLDING THE LEGAL PROFESSION QUALIFICATION OF THE MAINLAND AND ENGAGING IN LEGAL PRACTICE IN THE MAINLAND

SUPPLEMENTARY PROVISIONS OF THE PROVISIONS ON THE ADMINISTRATION OF FOREIGN-FUNDED CONSTRUCTION ENTERPRISES

SUPPLEMENTARY PROVISIONS ON THE ADMINISTRATION OF FOREIGN INVESTMENT IN ROAD TRANSPORT SECTOR

PROVISIONS ON THE ADMINISTRATION OF THE DEVELOPMENT AND OPERATION OF URBAN REAL ESTATE

IMPLEMENTING RULES OF THE REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON INTERNATIONAL MARITIME TRANSPORTATION

CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON DOMESTIC INSTITUTIONS USING RENMINBI AS PRICING CURRENCY IN FOREIGN TRADES

SUPPLEMENTARY CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION CONCERNING THE PREFERENTIAL POLICY OF ENTERPRISE INCOME TAX FOR ENTERPRISES WITH FOREIGN INVESTMENT WITH ADDITIONAL INVESTMENT

REGULATIONS ON THE MANAGEMENT OF FOREIGN-FUNDED URBAN PLANNING SERVICE ENTERPRISES

INTERIM PROVISION ON THE ESTABLISHMENT OF FOREIGN HOLDING AND WHOLLY FOREIGN-OWNED TRAVEL AGENCIES

CONSTITUTION ACT, 1982 – page 22

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

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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