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

The State Administration of Taxation

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

GuoShuiHan [2003] No.612

June 6, 2003

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

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

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

II.

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

III.

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

The State Administration of Taxation
2003-06-06

MEASURES FOR PRICE ADMINISTRATION OF WATER SUPPLY OF WATER ENGINEERING

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

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

No.4

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

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

Director of the State Development and Reform Commission: Ma Kai

Minister of the Ministry of Water Resources: Wang Shucheng

July 3, 2003

Measures for Price Administration of Water Supply of Water Engineering

Chapter I General Provisions

Article 1

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

Article 2

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

Article 3

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

Article 4

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

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

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

Article 5

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

Chapter II Principles and Measures for Verification of Water Price

Article 6

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

Article 7

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

Article 8

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

Article 9

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

Article 10

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

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

Article 11

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

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

Article 12

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

Chapter III System of Water Price

Article 13

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

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

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

Article 14

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

Article 15

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

Chapter IV Management Authority

Article 16

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

Article 17

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

Article 18

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

Chapter V Right and Duties and legal Obligation

Article 19

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

Article 20

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

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

Article 21

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

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

Article 22

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

Article 23

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

Article 24

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

Article 25

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

Chapter VI Supplementary Provisions

Article 26

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

Article 27

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

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

Article 28

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

Article 29

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

Article 30

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

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

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

The State Administration of Foreign Exchange

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

HuiFa [2003] No.104

September 1, 2003

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

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

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

(1)

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

(2)

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

(3)

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

II.

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

III.

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

IV.

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

(1)

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

(2)

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

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

VI.

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

(1)

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

(2)

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

VII.

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

VIII.

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

(1)

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

(2)

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

(3)

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

(4)

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

IX.

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

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

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

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

The State Administration of Foreign Exchange
2003-09-01

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

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

Shang Xin Zi [2003] No. 13

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

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

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

It is hereby notified.

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

The General Office of the Ministry of Commerce

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

Article 1

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

Article 2

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

Article 3

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

Article 4

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

Chapter II Organization and Leadership

Article 5

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

Article 6

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

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

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

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

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

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

Article 7

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

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

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

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

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

Chapter III Initiation and Examination of Project

Article 8

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

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

Article 9

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

Article 10

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

Chapter IV Planning of Project Implementation Scheme and Proof of Scheme

Article 11

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

Article 12

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

Article 13

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

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

Article 14

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

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

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

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

Chapter V the Selection of Project Undertaking entity

Article 15

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

Article 16

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

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

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

Article 17

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

Article 18

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

Article 19

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

Article 20

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

Article 21

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

Article 22

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

Article 23

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

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

Only very few entities can undertake the business of project;

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

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

Article 24

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

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

Article 25

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

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

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

Article 26

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

Article 27

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

Article 28

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

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

Article 29

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

Article 30

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

Chapter VII Project Spread, Marks Use and Data Storage

Article 31

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

Article 32

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

Article 33

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

Article 34

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

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

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

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

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

Chapter VIII Periodic Report and Information Disclosure

Article 35

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

Article 36

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

Chapter IX Supplementary Provisions

Article 37

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

Article 38

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

Article 39

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

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

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

State Administration of Taxation

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

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

October 24, 2003

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

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

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

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

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

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

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

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

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

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

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

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

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

(1)

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

(2)

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

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

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

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

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

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

(1)

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

(2)

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

(3)

The technological development expenses of the enterprise with foreign investment;

(4)

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

(5)

Other documents which may be required by the taxation authorities.

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

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

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

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

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

10.

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

State Administration of Taxation
2003-10-24

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

Ministry of Justice

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

No. 82

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

Zhang Fusen, Minister of the Ministry of Justice

November 30th, 2003

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

Article 1

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

Article 2

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

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

Article 3

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

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

Article 4

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

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

Article 5

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

(1)

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

(2)

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

(3)

A Mainland law firm agrees to employ him.

Article 6

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

(1)

It has been 3 full years since its establishment;

(2)

There are at least 10 full-time lawyers;

(3)

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

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

Article 7

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

(1)

An application;

(2)

A photocopy of the applicant’s identity certificate;

(3)

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

(4)

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

(5)

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

(6)

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

(7)

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

(8)

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

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

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

Article 8

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

Article 9

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

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

Article 10

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

Article 11

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

Article 12

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

Article 13

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

Article 14

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

Article 15

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

Article 16

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

(1)

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

(2)

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

(3)

He is hired by a foreign law firm simultaneously;

(4)

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

(5)

He is engaged in the Mainland legal services; or

(6)

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

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

Article 17

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

(1)

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

(2)

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

(3)

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

(4)

Other punishable acts violating the laws, regulations and rules.

Article 18

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

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

Article 19

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

Article 20

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

Article 21

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

Ministry of Justice
2003-11-30

ADMINISTRATIVE MEASURES FOR TAX REGISTRATION

State Administration of Taxation

Order of the State Administration of Taxation

No. 7

The Administrative Measures for Tax Registration, deliberated and adopted at the 6th executive meeting of the State Administration
of Taxation on December 20th, 2003, are hereby promulgated and shall come into force as of February 1st, 2004.

Xie Xuren, Director general of the State Administration of Taxation

December 17th, 2003

Administrative Measures for Tax Registration

Chapter I General Provisions

Article 1

With a view to regulating the tax registration management, strengthening the supervision and control over tax resources, the present
Measures are formulated in accordance with the Law of the People’s Republic of China on the Administration of Tax Collection (hereinafter
referred to as the Law on the Administration of Tax Collection) and the Detailed Rules for the Implementation of Law of the People’s
Republic of China on the Administration of Tax Collection (hereinafter referred to as the Detailed Rules).

Article 2

All enterprises, branches in other jurisdictions established by the enterprises, the sites for production or business, individual
industrial and commercial households, and public institutions engaged in production and business shall make tax registration in accordance
with the Law on the Administration of Tax Collection, the Detailed Rules and the present Measures.

The taxpayers other than those listed in the preceding paragraph, except the state organs, individuals and small rural floating peddlers
without fixed production and business sites, shall make tax registration according to the Law on the Administration of Tax Collection,
the Detailed Rules and the present Measures.

The withholding agents who are obligatory to withhold taxes pursuant to the tax laws and the administrative regulations (excluding
the state organs) shall make registration for withholding taxes in accordance with the Law on the Administration of Tax Collection,
the Detailed Rules and the present Measures.

Article 3

The bureaus (sub-bureaus) of state taxes at (above, the same below) the county level, the bureaus (sub-bureaus) of local taxes shall
be the administrative organs for taxation, which shall be responsible for the establishment, modification and cancellation of tax
registration, the verification of the tax registration certificates, the replacing of the tax registration certificates, the handling
of abnormal taxpayers, the register of verification applications and other relevant items.

Article 4

The tax registration certificates shall include the tax registration certificates and their duplicates, the temporary tax registration
certificates and their duplicates.

The tax withholding registration certificates shall include the tax withholding registration certificates and their duplicates.

Article 5

The bureaus (sub-bureaus) of state taxes, the bureaus (sub-bureaus) of local taxes shall adopt the way of joint registration or separate
registration in make the tax registration within their respective jurisdiction according to the scope of administration on tax collection
as prescribed by the State Council. Where possible, the bureaus (sub-bureaus) of state taxes and the bureaus (sub-bureaus) of local
taxes of some cities may make the tax registration by following the principle of “accepting applications by all districts for centralized
handling of applications of the whole city”.

Where a bureau (sub-bureaus) of state taxes and a bureau (sub-bureaus) of local taxes jointly handle the tax registration, they shall
issue a tax registration certificate affixed with the seals of the said bureau (sub-bureau) of state taxes and the said bureau (sub-bureau)
of local taxes to a same taxpayer.

Article 6

In the case of any disputes over the administrative tax organ for the tax registration of taxpayers between a bureau (sub-bureau)
of state taxes and a bureau (sub-bureau) of local taxes, the dispute shall be settled by the bureau of state taxes and the bureau
of local taxes of the higher level through negotiation together.

Article 7

The bureaus (sub-bureaus) of state taxes and the bureaus (sub-bureaus) of local taxes shall execute a uniform set of tax registration
codes. The tax registration codes shall be jointly created by the bureaus of state taxes and the bureaus of local taxes of the provincial
level and be uniformly distributed to all places for implementation.

The tax registration code of a taxpayer who has already obtained the organizational code shall be the area code + the organization
code created by the technology supervision departments of the state; the tax registration code of an individual industrial and commercial
household shall be the number of the identity card of the individual; the tax registration code of a foreigner or a person from Hong
Kong, Macao or Taiwan, who is engaged in production and operation, shall be the region code + the number of the corresponding valid
certificate (such as passport, the pass for residents of Hong Kong, Macao and Taiwan for entering and exiting the Mainland).

Article 8

The bureaus (sub-bureaus) of state taxes and bureaus (sub-bureaus) of local taxes shall regularly inform each other of the information
about tax registration, shall in time provide to each other the registered information of the taxpayers, and strengthen the management
of tax registration.

Article 9

A taxpayer shall, when handling the following items, provide its tax registration certificate:

(1)

Opening a bank account; or

(2)

Purchasing invoices.

A taxpayer shall, when handing other items involving tax, present the tax registration certificate. The tax organ shall verify the
corresponding information prior to going through the formalities.

Chapter II Establishment Registration

Article 10

Enterprises, branches in other jurisdictions established by the enterprises, the sites for production or business, individual industrial
and commercial households, and public institutions engaged in production and business operations (hereinafter referred to as taxpayers
engaged in production or business operations) shall each apply to the tax organ where their respective production or business site
is located for going through the tax registration formalities.

(1)

As for a taxpayer engaging in production or business operations who has obtained the industrial and commercial business license (including
temporary industrial and commercial business license), it shall, within 30 days as of the day when it takes the industrial and commercial
license, apply for going through the tax registration formalities. The tax organ shall issue a tax registration certificate and its
duplicates to the taxpayer upon examination (As for a taxpayer who has obtained a temporary industrial and commercial license, the
tax organ shall issue a temporary tax registration certificate and its duplicates to the taxpayer upon examination);

(2)

Where a taxpayer fails to complete the formalities for industrial and commercial license but has been established upon the approval
of relevant department, it shall apply for going through the tax registration formalities with in 30 days as of the day when it is
approved of the establishment by the relevant department. The tax organ shall issue a tax registration certificate and its duplicates
to the taxpayer upon examination;

(3)

Where a taxpayers hasn’t completed the formalities for industrial and commercial license, neither has it been approved of the establishment
by relevant department, it shall, within 30 days as of the day when the obligation to pay tax arises. The tax organ shall issue a
temporary tax registration certificate and its duplicates to the taxpayer upon examination;

(4)

As for a contractor or lessee who has independent production and operation right, keeps separate accounts, and regularly pay contracting
fees or rent to the party issuing the contract or the lessor, it shall, within 30 days as of the day when the contracting or lease
contract is concluded, apply to the tax organ where the business of contracting or lease arises for going through the tax registration
formalities. The tax organ shall issue a temporary tax registration certificate and its duplicate to it;

(5)

Where a taxpayer engaging in production or business operations carries on business in a different place for more than 180 days accumulatively
within consecutive 12 months calculated as of the day when it actually starts business operations or provides labor services in the
same county (city), it shall, within 30 days as of the day when the time limit expires, apply to the local tax organ for going through
tax registration formalities. The tax organ shall issue a temporary tax registration certificate and its duplicate to the taxpayer
upon examination;

(6)

Where a foreign enterprise contracts a construction, installation, assembling or exploration project or provides labor services, it
shall, within 30 days as of the day when the project contract or agreement is concluded, apply to the tax organ where the project
is located for going through the tax registration formalities. The tax organ shall issue a temporary tax registration certificate
and its duplicates to the taxpayer upon examination.

Article 11

Any of the taxpayers other than those provided in Article 10 of the present Measures, except the state organs, individuals and the
small floating rural peddlers without fixed production and business operation sites, shall apply to the tax organs where the obligation
to pay tax arises within 30 days as of the day when the obligation to pay tax arises. The tax organ shall issue tax registration
certificate and its duplicate to the taxpayer upon examination.

Article 12

Where there is any dispute over a taxpayer’s tax registration place between the tax organs, the jurisdiction shall be determined by
their common superior tax organ. Where there is any dispute over a taxpayer’s tax registration between a bureau (sub-bureau) of state
taxes and a bureau (sub-bureau) of local taxes, it shall be settled according to Article 6 of the present Measures.

Article 13

Where a taxpayer applies for going through the tax registration formalities, it shall faithfully submit the following certificates
and materials in accordance with its actual situations:

(1)

The industrial and commercial business license or other business approving certificates;

(2)

Relevant contracts, articles of association and agreements;

(3)

The certificate of uniform organizational code; and

(4)

The identity card, passport or other lawful certificates of the legal representative, or the responsible person, or the owner.

Other relevant certificates and materials that are required to offer shall be determined by the tax organ at the level of provinces,
autonomous regions, or municipalities directly under the Central Government.

Article 14

Where a taxpayer applies for going through the tax registration formalities, it shall faithfully fill in the tax registration form.

The tax registration form mainly includes:

(1)

The names of the entity, the legal representative or the owner, and the numbers of their identity card, passport or other lawful certificates;

(2)

The domicile or business place;

(3)

The type of registration;

(4)

The method of accounting;

(5)

The form of production or business operations;

(6)

The scope for production or business operations;

(7)

The registered fund (capital) or the total sum of the investments;

(8)

The time limit for production or business operations;

(9)

The person-in-charge of finance, the telephone number; and

(10)

Other relevant items specified by the State Administration of Taxation.

Article 15

As for a taxpayer who has submitted a complete set of certificates and materials and has filled in the tax registration form with
content that meets the relevant requirements, the tax organ shall issue the taxpayer a tax registration certificate in good time.
Where a taxpayer fails to submit a complete set of certificates and materials or fails to fill in the tax registration form in accordance
with the relevant requirements, the tax organ shall, in the presence of the taxpayer, demand it to add and correct or refill the
form. If the there is any doubt about the certificates and materials submitted by the taxpayer, the tax organ shall conduct on-site
investigations and shall issue a tax registration certificate to the taxpayer upon verification.

Article 16

The tax registration certificate mainly includes the name of the taxpayer, the tax registration code, the legal representative or
the responsible person, the address of the production or business operations, the type of registration, the method of accounting,
the scope for production or business operations (major business operations, concurrent business operations), date of issuance of
the certificate and period of validity of the certificate.

Article 17

A withholding agent who has gone through the tax registration formalities shall, within 30 days as of the day when the obligation
to pay tax arises, apply to the same tax organs as the one in which it has make tax registration for going through the registration
formalities for withholding taxes. The tax organ shall register the items concerning the withholding of taxes on its tax registration
certificate and shall not issue any tax withholding registration certificate.

As for a taxpayer who isn’t required to make tax registration according to the relevant provisions of the laws and administrative
regulations, it shall, within 30 days as of the day when the obligation to pay tax arises, apply to the tax organs where the institution
is located for going through the registration formalities for withholding taxes. The tax organ shall issue a tax withholding registration
certificate to the taxpayer upon verification.

Chapter III Modification Registration

Article 18

Where any of the tax registration information of a taxpayer changes, the taxpayer shall apply to the original tax registration organ
for modifying the tax registration.

Article 19

As for a taxpayer who has completed the modification registration in the administrative organ of industry and commerce, it shall,
within 30 days as of the day when it has completed the modification in the administrative department of industry and commerce, faithfully
submit the following certificates and materials to the original tax registration organ, and file an application for modifying the
tax registration:

(1)

The industrial and commercial registration modification form, and the industrial and commercial business license;

(2)

The relevant evidential documents about the modification registration of the taxpayer;

(3)

The former tax registration certificate issued by the tax organ (including the original tax registration certificate, its duplicate
and registration form); and

(4)

Other relevant materials.

Article 20

If a taxpayer isn’t required to handle modification registration in the administrative organ of industry and commerce according to
relevant regulations, or if what a taxpayer modifies is irrelevant to the industrial and commercial registration, the taxpayer shall,
within 30 days as of the day when the content of tax registration actually changes, or within 30 days as of the day the relevant
organ approves of or announces the modification, apply to the original tax registration organ for modifying the tax registration
upon the strength of the following certificates:

(1)

The relevant evidential certificates about the content of modification registration of the taxpayer;

(2)

The former tax registration certificate (including the original tax registration certificate and its duplicate, and the tax registration
form); and

(3)

Other relevant materials.

Article 21

As for a taxpayer who has submitted a complete set of certificates and materials as required for modification registration, it shall
faithfully fill in the tax registration modification form, which shall be subject to the examination of the tax organ. If it meets
the relevant requirements, the tax organ shall accept it; if it doesn’t meet the relevant requirements, the tax organ shall order
the taxpayer to add and get right.

Article 22

Within 30 days as of the day when a tax organ accepts an application, it shall examine and handle the modification tax registration.
Where both the tax registration form and the tax registration certificate of a taxpayer are modified, the tax organ shall issue a
new tax registration certificate in accordance with the modified contents upon verification. Where the tax registration form of a
taxpayer is modified, but no modification is made to the tax registration certificate, the tax organ shall not issue a new tax registration
certificate.

Chapter IV Business Suspension, Business Resumption Registration

Article 23

Where an individual industrial and commercial household subject to taxes of fixed sum and fixed term needs to suspend business, it
shall report to the tax organ for business suspension registration prior to the suspension. The duration of business suspension for
a taxpayer shall not exceed one year.

Article 24

Where a taxpayer applies for business suspension registration, it shall faithfully fill in a business suspension registration form,
in which it shall explain the reason for business suspension, the duration of business suspension, the information about the tax
payments prior to suspending the business and the information about the invoices purchased, used and remained. It shall pay up the
payable taxes, late fees and penalties. The tax organ shall withdraw and preserve its tax registration certificate and duplicate,
the invoice purchasing recording book, the remained invoices and other relevant tax certificates.

Article 25

Where an obligation to pay tax arises during the period of business suspension of a taxpayer, the taxpayers shall file a tax return
and pay the tax (es) according to relevant laws and administrative regulations governing tax collection.

Article 26

A taxpayer shall, before it resumes production or business operations, apply to the tax organ for business resumption registration.
It shall faithfully fill in the Business Suspension or Resumption Report and take back and start to use the tax registration certificate,
the invoice purchasing recording book and the invoices purchased prior to the business suspension.

Article 27

Where a taxpayers is unable to resume the production or business operations at the expiration of business suspension. It shall, prior
to the expiration of business suspension, file an application to the tax organ for the registration of suspension extension period
and shall faithfully fill in the Business Suspension or Resumption Report.

Chapter V Cancellation of Registration

Article 28

Where a taxpayer terminates the obligation to pay tax due to dissolution, bankruptcy, cancellation or other reasons, before it cancels
the registration in the administrative organ of industry and commerce or in other organs, it shall go through the formalities for
canceling the tax registration in the original tax registration organ on the strength of relevant certificates and materials. As
for a taxpayer who isn’t required to handle the registration in the administrative organ of industry and commerce or in other organs,
it shall, within 15 days as of the day when it gets the relevant organ’s approval or announcement of the termination, handle the
formalities for canceling the tax registration in the original tax registration organ on the strength of relevant certificates and
materials.

Where a taxpayer’s business license is suspended by the administrative department of industry and commerce, or its registration is
cancelled by other organs, the taxpayer shall, within 15 days as of the day when its business license is suspended or its registration
is cancelled, go through the formalities for canceling the tax registration in the original tax registration organ.

Article 29

Where a taxpayer needs to change a tax registration organ because of the change of its domicile or business place, before it applies
to the administrative organ of industry and commerce or to other organs for going through the modification registration, or before
it changes the domicile or business place, it shall cancel its tax registration in the original tax registration organ, and shall,
within 30 days as of the day when its tax registration is canceled, handle tax registration in the tax organ of the destination it
moves to.

Article 30

Where a foreign enterprise contracts a construction, installation, assembling or exploration project, or provides labor services within
China, it shall, within 15 days when it completes the project or leaves China, cancel its tax registration in the original tax registration
organ on the strength of the relevant certificates and materials.

Article 31

Before a taxpayers handles the formalities for canceling the tax registration, it shall submit relevant evidential documents and materials
to the tax organ, pay up the taxes due, the overly refunded (exempted) taxes, the late fees and the monetary penalties, and shall
hand in the invoices, tax registration certificate and other tax certificates for cancellation.

Chapter VI Application, Examination and Registration of Outgoing Operations

Article 32

As for a taxpayer who carries on temporary production and business operations in a different county (city), before doing so, it shall
apply to the administrative tax organ for the issuance of a Tax Collection Management Certification for Outgoing Operation Activities
(hereinafter referred to as Management Certification for Outgoing Operation) .

Article 33

In accordance with the principle of one certification for one place, the tax organ shall issue the Management Certification for Outgoing
Operation upon examination, which is generally valid for a period of 30 days up to not more than 180 days at most.

Article 34

Before a taxpayer carries on production and business operations in the place as indicated in the Management Certification for Outgoing
Operation, it shall handle the registration in the local tax organ and submit the following certificates and materials:

(1)

The tax registration certificate and its duplicate; and

(2)

The Management Certification for Outgoing Operation.

If the taxpayer sells goods in the place as indicated in the Management Certification for Outgoing Operation, it shall not only submit
the above-mentioned certificate and materials, but also faithfully fill in the Declaration Form for Goods under Outgoing Business
Operations, and make a declaration for the inspection and verification of goods.

Article 35

Where a taxpayers has completed its outgoing operation activities, it shall fill in the Declaration Form for Outgoing Operation Activities,
pay up the taxes due, and hand in the unused invoices for cancellation.

Article 36

Within 10 days after the expiration of the Management Certification for Outgoing Operation of a taxpayer, the taxpayer shall present
its Management Certification for Outgoing Operation for cancellation in the original tax registration organ upon the strength of
the Management Certification for Outgoing Operation.

Chapter VII Management of Certificates and Licenses

Article 37

The tax organs shall strengthen the management of tax registration certificates by conducting on-site investigation or verification,
and by exchanging the information between the taxation departments and the industrial and commercial departments or between the bureaus
(sub-bureaus) of state taxes and the bureaus (sub-bureaus) of local taxes.

Article 38

Any change in the format of the tax registration certificate and the necessity for uniformly replacing the tax registration certificate
shall be subject to the determination by the State Administration of Taxation.

Article 39

Where a taxpayer or a withholding agent loses its tax registration certificate, it shall, within 15 days as of the day it loses the
tax registration certificate, report to the administrative tax organ in written form, shall faithfully fill in the Report Form for
the Loss of Tax Registration Certificate, and shall make an announcement of loss in the newspapers as acknowledged by the tax authorities,
announcing the name of the taxpayer, and the name, number, period of validity, and issuing organ of the tax registration certificate.
On the strength of the announcement of loss published in the aforesaid newspapers, it may apply to the administrative tax organ for
a new tax registration certificate.

Chapter VIII Punishments to Abnormal Taxpayers

Article 40

Where a taxpayer who has completed tax registration fails to file tax returns within the prescribed time limit, the tax organ shall
order it to set right within a time limit; if it fails to do so within the time limit, the tax organ shall assign persons to conduct
on-site inspection, if the whereabouts of the taxpayer is unknown, and accordingly it’s unable to compel the taxpayer to perform
its obligation to pay taxes, the inspectors shall make a document showing the abnormality of the taxpayer and keep it into the archives
of the taxpayer. The tax organ shall temporarily prevent it from using the tax registration certificate, the invoice purchasing recording
book and the invoices.

Article 41

If it has been more than 3 months since a taxpayer is determined as an abnormal one, the tax organ may announce its tax registration
certificate null and void, and demand it to pay, nonetheless, the taxes due according to the Law on the Administration of Tax Collection,
and the Detailed Rules.

Chapter IX Legal Liabilities

Article 42

Where a taxpayer fails to apply for tax registration, modification or cancellation registration within the prescribed time limit,
the tax organ shall, within 3 days as of the day of finding, order it to set right, and shall give it a punishment according to Paragraph
1 of Article 60 of the Law on the Administration of Tax Collection.

Where a taxpayer fails to handle tax registration of modification or cancellation of registration within the prescribed time limit,
the tax organ shall, within 3 days as of the day when it is found, order it to set right; if it fails to do so, the tax organ shall
give it a punishment according to Paragraphs 1 and 2 of Article 60 of the Law on the Administration of Tax Collection

Article 43

Where a taxpayer fails to use the tax registration certificate according to the relevant requirements, or lends, alters, destroys,
buys and sells, or forges any tax registration certificate, it shall be punished according to Paragraph 3 of Article 60 of the Law
on the Administration of Tax Collection.

Article 44

Where a taxpayer obtains a tax registration certificate by providing false evidential materials or other means, it shall be imposed
on a fine of not more than 2, 000 Yuan. If the circumstance is serious, it shall be imposed on a fine ranging from 2, 000 Yuan up
to 10, 000 Yuan. If the taxpayer is involved in other illegal offences, it shall be punished according to other relevant laws and
administrative regulations.

Article 45

Where a withholding agent fails to handle the tax withholding registration, the tax organ shall order it to set right within 3 days
as of the day when it is found, and may impose on it a fine of not more than 2, 000 Yuan.

Article 46

Where a taxpayer or a withholding agent, violating the present Measures, refuses to accept the punishment given by the tax organ,
the tax organ may withdraw its invoices or stop selling invoices to it.

Article 47

Where any functionary of a tax organ practices frauds for personal gains, neglects his (her) duties, violates any of the present Measures
in going through the tax registration formalities for a taxpayer, or abuses his powers, deliberately creates difficulties for a taxpayer
or a withholding agent, he (she) shall be transferred from his (her) post to another and be given an administrative sanction.

Chapter X Supplementary Provisions

Article 48

The format of the marks, countermarks and documentation involved in the present Measures shall be determined by the State Administration
of Taxation.

Article 49

The responsibility to interpret the present Measures shall remain with the State Administration of Taxation. The bureaus of state
taxes and the bureaus of local taxes of all provinces, autonomous regions, municipalities directly under the Central Government and
cities directly under State separate planning shall formulate specific implementation measures according to the present Measures.

Article 50

The present Measures shall come into force as of February 1st, 2004.

State Administration of Taxation
2003-12-17

STATISTICAL RULES FOR FOREIGN INVESTMENTS

Circular of the Ministry of Commerce and National Bureau of Statistics concerning Printing and Distributing the Statistical Rules
for Foreign Investments

Shang Zi Tong Jin Fa [2003] No. 510

Each foreign trade and economic cooperation commission (department or bureau) of each province, autonomous region, municipality directly
under the Central Government, and city separately designated in the state plan,

For the purpose of regulating the statistical work for the absorption of foreign investments, the former Ministry of Foreign Trade
and Economic Cooperation in collaboration with the National Bureau of Statistics issued the Statistical Rules for the Utilization
of Foreign Investments. The said Statistical Rules for Foreign Investments have played an important role in promoting and intensifying
the statistical work for foreign investments all over the country. In recent years, some new features and new forms have appeared
in our country’s absorption of foreign investments, the existing rules are difficult to meet the needs of the statistical work of
foreign investments.

On the basis of summarizing the past work experience, using the principle of the International Monetary Fund for reference, deeply
hearing the opinions of the local commerce administrative departments and statistical departments, we make amendment on the former
Statistical Rules in order to enhance the quality of the statistical data of foreign investments and provide an accurate basis for
the administration of foreign investments. The Statistical Rules for Foreign Investments (attached) are hereby printed and distributed
to you, please comply with them and timely report to us any problem arising during the course of implementation. The former Statistical
Rules for the Utilization of Foreign Investments shall be revoked as of the date of promulgation of this Circular.

Ministry of Commerce

National Bureau of Statistics

December 31, 2003

Statistical Rules for Foreign Investments

(Ministry of Commerce and National Bureau of Statistics December 2003)

Chapter I General Provisions

Article 1

In order to scientifically and effectively organize the statistical work of foreign investments throughout the country, the present
Rules are constituted under the Statistics Law of the People’s Republic of China and the Detailed Rules for carrying out the Statistics
Law of the People’s Republic of China, and the laws and regulations of the state on utilizing foreign investments.

Article 2

The basic tasks of the statistical work of foreign investments: to reflect the all-around information about the absorption of foreign
investments in a timely and accurate way, to systematically make statistical investigations into and statistical analyses of the
foreign investment agreements and contracts approved by the state and the actual execution of these agreements and contracts, and
the economic benefits derived therefrom, to make statistical supervision, to provide statistical information and statistical consultation
for the economic management and macro-resolutions of the state and the government departments at all levels, and to provide services
for foreign exchange.

Article 3

The present Rules shall be applicable to the local commerce administrative departments at all levels, the state’s comprehensive departments
and entities with utilization of foreign investments, and the foreign-funded enterprises and cooperative development projects within
China.

Statistical materials shall be provided by the aforesaid departments, entities and enterprises under the Statistics Law of the People’s
Republic of China as well as the present Rules. Any statistical materials may not be made any false report, concealed, refused to
report, delayed to report, forged or changed by any of them.

Article 4

The statistical rules for foreign investments shall be constituted by the Ministry of Commerce in collaboration with the National
Bureau of Statistics. The commerce administrative departments at all levels shall organize, coordinate and administer the statistical
work of foreign investments and the statistical institutions of the governments of the same level shall give direction. The Ministry
of Commerce shall take charge of the collection, announcement and foreign exchange of statistical materials of foreign investments
all over the country upon authorization of the State Council.

Article 5

The statistical work of foreign investments shall comply with the uniform leadership and level-by-level management. The present Rules
shall govern the formats, indicators as well as computation criterions of the national statistical statements of foreign investments.
If any place or department needs to make a special statistical investigation not covered by the present Rules, it shall be approved
by the statistical institution and shall give a report to the Ministry of Commerce and the National Bureau of Statistics to put on
records.

Chapter II Statistical Scope and Main Contents

Article 6

Under the existing policies and regulations of the state on foreign investments, the statistical scope of foreign investments consists
of the direct investments and other investments of foreign investors.

Article 7

The term “foreign investment” as mentioned in the present Rules means the investments in cash, kind, intangible assets, etc. made
by legal persons and natural persons from abroad and from Hong Kong, Macao and Taiwan region in the mainland of China. Among such
investments, the direct investments of foreign investors mean the total investments made by foreign investors in non-listed companies,
as well as the investments made by a single foreign investor in a listed company and accounting for 10% or more of the equities of
this listed company; the other investments are other investments of foreign investors.

Article 8

For the purpose of converging to the international statistical system, the decision on the sources of foreign investments shall be
made in the present Rules make in accordance with countries or regions where the investors are registered.

Article 9

The foreign investment statistical statements consist of the grassroots statistical statements of foreign investments and the comprehensive
statistical statements of foreign investments.

The main contents of the grassroots statistical statements of foreign investments consist of,

(1)

The statement of the approval certificates of enterprises invested by foreign investors (Taiwan, Hong Kong and Macao investors), of
which the contents shall be consistent with the contents of the counterfoils of the said approval certificates, consisting of the
attributes of foreign invested enterprises, foreign investment funds under the contracts and the sources thereof.

(2)

The statistical statement of the actual investments to the enterprises invested by foreign investors (Taiwan, Hong Kong and Macao
investors), consisting of the actual investments occurred during the current period and the detailed classification thereof.

(3)

The statistical statement of the status quo of business operations of enterprises invested by foreign investors (Taiwan, Hong Kong
and Macao investors), consisting of the indicators for the assets, liabilities, business proceeds, personnel, import and export of
the enterprises.

The List of Statistical Statements of Foreign Investments and the explanatory notes of the statements are integral parts of the present
Rules.

Chapter III Submission, Management and Announcement of Statistical Materials.

Article 10

The local commerce administrative departments at all levels and the related comprehensive departments and entities with utilization
of foreign investments shall make collection, examination, summary, formulation and report on the related statements in time, and
do well in managing and comprehensively analyzing the statistical materials of foreign investments at the same time.

Article 11

When a foreign-funded enterprise is set up upon approval, it shall handle the statistical registration procedures in the foreign-funded
approval department. The statistical materials shall be provided and the statistical statements shall be filled in accordance with
the Statistics Law of the People’s Republic of China as well as the present Rules. In accordance with the statistical investigation
tasks, a foreign-funded enterprise shall equip with professional personnel or designate part-time statistical personnel. The statistical
work of foreign investments shall start from the approval of setting up this enterprise or from the approval of the agreement or
contract, and end at the time of termination of the enterprise or at the time of completion of implementing the agreement or contract.

Article 12

The statistical statements of foreign investments shall be reported, in the form of central database management on the basis of on-line
transmission, by the commerce administrative departments at all levels to the commerce departments at the next higher level. Such
statements shall be reported by a provincial commerce administrative department to the Ministry of Commerce and a copy shall be sent
to the statistical bureau at the same level.

The statistical statements of foreign investments in the banking, securities and insurance sectors shall be summarized by China Banking
Regulatory Commission, China Securities Regulatory Commission as well as China Insurance Regulatory Commission and shall be reported
to the Ministry of Commerce.

Article 13

The Ministry of Commerce shall verify and check the statistical data reported by all places in order to make sure the continuity,
accuracy and seriousness of the statistical data of foreign investments.

Article 14

When making public announcement or provision of statistical materials of foreign investments to outside, the local commerce administrative
departments at all levels shall keep state secrets and business secrets of the enterprises and strictly abide by the Statistics Law
of the People’s Republic of China, Detailed Rules for Carrying Out the Statistics Law of the People’s Republic of China, and the
related provisions of the state.

Chapter IV Statistical Organizations and Statistical Personnel

Article 15

The leadership to the statistical work of foreign investments shall be enforced , and a corresponding organization or staff full-time
statistical personnel according to the actual needs shall be set up by the local commerce administrative departments at all levels
, and the statistical personnel of foreign investment shall be kept relatively stable.

Article 16

The statistical personnel of foreign investments shall be qualified with the professional knowledge to meet the needs of the statistical
work. The professional skill training of the statistical personnel of foreign investments shall be strengthened by the local commerce
administrative departments at all levels.

Article 17

Under the Statistics Law of the People’s Republic of China, the statistical personnel of foreign investments may require the related
entities and personnel to provide statistical materials in accordance with the provisions of the state, examine the accuracy of the
statistical materials, correct the uncertain statistical materials, and expose any violation in the statistical work.

Article 18

For any functionary of a local commerce administrative department makes any false report, conceals, forges, alters, refuses to report,
or delays the report of any statistical materials, if the situation is serious, the department for which he working in shall give
him an administrative punishment or make suggestions to the related department to give him an administrative punishment, and the
commerce administrative department at or above the county level shall, in collaboration with the statistical bureau at the same level,
give him criticism by circulating a notice.

For any foreign-funded enterprise committing any of the violations mentioned above, if the situation is serious, the commerce administrative
department at the county level or above shall suggest the statistical bureau at the same level to give him a warning, and may give
him a punishment in accordance with the related provisions of the state.

Article 19

For anyone who formulates or announces any statistical statements of foreign investments or who announces any statistical materials
of foreign investments without approval of the department taking charge of the statistical work of foreign investments, he shall
be ordered to make a correction by the commerce administrative department at or above the county level in collaboration with the
statistical bureau at the same level and shall be criticized by circulating a notice.

Chapter V Supplementary Provisions

Article 20

The statistical currency of foreign investments shall be USD. The transfer rate between the USD and other currencies shall be adopted
in accordance with the Table of Internal Uniform Translation Rates between USD and Other Currencies constituted by the State Administration
of Foreign Exchange.

Article 21

The present Rules shall adopt the statistical codes in accordance with the Statistical Codes of Countries and Regions constituted
by the General Administration of Customs. The sector types shall be adopted in accordance with the Classification of the Industrial
Sectors of National Economy (GB/T 4754-2002) of the People’s Republic of China.

Article 22

The date of submission of statements may be postponed accordingly during legal holidays (excluding Saturdays and Sundays).

Article 23

The Ministry of Commerce shall have the power to make interpretation on the present Rules.

Article 24

The present Rules shall go into effect as of January 1, 2004. If any former provision is not consistent with the present Rules, the
present Rules shall prevail.

Ministry of Commerce, National Bureau of Statistics
2003-12-31

PROVISIONAL REGULATIONS ON THE MANAGEMENT OF INTERNATIONAL NETWORKING OF COMPUTER INFORMATION NETWORKS

Provisional Regulations of the PRC on the Management of International Networking of Computer Information Networks

Article 1 These regulations are hereby formulated to strengthen management of the international networking of computer information
networks and guarantee the healthy development of international exchanges of computer information.

Article 2 International networking of all computer information networks within the People’s Republic of China shall be handled in accordance
with these Regulations.

Article 3 The following terms used in these Regulations mean:

(1) International networking of computer information networks (hereinafter referred to as international networking) refers to the
networking of the computer information networks inside the People’s Republic of China and those in foreign countries with the purpose
of international exchange of information.

(2) Internets refers to computer information networks with direct international networking; networking units refer units responsible
for the operation of internets.

(3) Cut-in networks refer to computer information networks cut into internets for international networking; and cut-in units refer
to units responsible for the operation of cut-in networks.

Article 4 The State shall implement the principle of overall planning, unified standardization, and level-by-level management of international
networking to promote its management.

Article 5 The Economic Information Group of the State Council (hereinafter referred to as the Group) shall take charge of coordination and
solution of major issues concerning international networking.

The office of the Group shall work out specific management rules in line with stipulations of these Regulations; clarify the rights,
obligations and responsibilities of units providing import and export outlets of international channels, networking units, cut-in
units, and end users; and carry out inspection and supervision of international networking across the country.

Article 6 Computer information networks shall the international channels of import and export outlets provided by the Ministry of Posts and
Telecommunications in the country’s public telecommunications network when they carry out direct international networking.

No units or individuals shall be allowed to establish or use other channels for international networking without authorization.

Article 7 The internets that have already been established shall be assigned to management by the Ministry of Posts and Telecommunications,
the Ministry of Electronics Industry, the State Education Committee, and the Chinese Academy of Sciences respectively after readjustment
in line with relevant regulations of the State Council.

The establishment of new internets shall be reported to the State Council for approval.

Article 8 Cut-in networks shall carry out international networking via internets.

The units planning to establish cut-in networks shall report their plan to departments or units in charge of internets for examination
and approval. When going through examination and approval procedures, these units shall provide data on the nature and scope of application
of their computer information networks and the addresses of the mainframe computers they need.

Article 9 Cut-in units shall meet the following qualifications:

(1) Being enterprise or institutional legal persons set up in accordance with law.

(2) Possessing corresponding computer information networks, equipment, and technical and management personnel.

(3) Having established a perfect security system and technology protection measures.

(4) Conforming with laws and other conditions stipulated by the State Council.

Article 10 Individuals, legal persons and other organizations (hereinafter referred to as the end users) hoping to carry out international networking
of their computers or computer information networks shall do so via cut-in networks.

If the computers and computer information networks as mentioned in the preceding clause need by cut into cut-in networks, approval
shall be won from the cut-in units and registration procedures shall be gone through.

Article 11 Providers of international channels of import and export outlets, internets, and cut-in units shall establish corresponding network
management centres, strengthen management of themselves and the end users in accordance with laws and relevant State regulations,
do a good job in guaranteeing the security of information networks, and be sure to provide excellent and safe services to the end
users.

Article 12 Internets and cut-in units shall hold responsibility over the technical training and management education on international networking
to themselves and their end users.

Article 13 The units and individuals in charge of international networking businesses shall abide by relevant State laws and administrative
decrees and strictly follow safety and security rules. They shall use international networking for law-breaking or criminal activities
that may endanger national security or divulge State secrets; or producing, consulting, duplicating or propagating information that
may disturb social order or pornographic information.

Article 14 Those who violate stipulations in articles 6, 8 and 10 of these Regulations shall be warned by security departments or by security
departments according to the opinions of providers of international channels of import and export outlets, internets, or cut-in units,
criticized, ordered to cut off international networking, as well as asked to pay fines below 15,000 yuan.

Article 15 Those who violate stipulations of these Regulations and at the same time violate other relevant laws or administrative decrees shall
be punished according to relevant laws and administrative decrees, or brought to hold legal responsibilities if crimes are committed.

Article 16 Networking with computer information networks in Taiwan, Hong Kong and Macao shall be handled with reference to these Regulations.

Article 17 These Regulations shall take effect on the date of their promulgation.

CIRCULAR OF CHINA SECURITIES REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING FUTURES BROKERAGE COMPANIES’ ACCEPTANCE OF CAPITAL CONTRIBUTION

Circular of China Securities Regulatory Commission on the Relevant Issues Concerning Futures Brokerage Companies’ Acceptance of Capital
Contribution

ZhengJianQiHuoZi [2003] No.5
January 14, 2003

Securities regulatory offices, agencies and accredited representative’s offices:

In order to regulate futures companies’ acceptance of capital contribution, and to promote the normative development of the futures
market, the relevant issues concerning futures companies’ acceptance of capital contribution are hereby notified as follows:

A contributor of futures company shall meet the following conditions:

(1)

Qualified as a Chinese legal person;

(2)

Having at least a minimum of 10 million RMB for registered capital and net assets each;

(3)

Having operated successively for 2 years or more; 1 year or more if both the registered capital and net assets exceed 50 million RMB;

(4)

Having made profits successively for the latest 2 years; no profit requirement if both the registered capital and net assets exceed
50 million RMB;

(5)

Having no major violation of laws and rules within the latest 2 years;

(6)

The legal representative, general manager and nature person controlling shareholder of the contributor are not involved in any of
the situations provided for in Article 57 of the Company Law;

(7)

Other prudent conditions provided for by China Securities Regulatory Commission (CSRC).For the contributors that hold less than 10%
of the shares of the futures brokerage company and don’t actually control the company, there are no requirements on their registered
capital, net assets, profits and operating period etc.

II.

The following organizations may not become contributors of a futures brokerage company:

(1)

Any organization whose pending action objects amount to 30% of its net assets;

(2)

Party and political bodies, armies, people’s organizations and government-sponsored institutions as legal persons;

(3)

Other organizations prohibited from contributing to futures brokerage companies by laws and regulations.

Futures brokerage companies may not hold shares of each other; and futures brokerage companies and their contributors may not hold
shares of each other.

III.

This Circular shall enter into force as of the date of its printing and distribution. The Circular on Several Issues Concerning Regulating
Futures Companies’ Acceptance of Contribution (ZhengJianQiZi [1996] No.16) promulgated by CSRC on December 23, 1996 shall be repealed
at the same time. Where subparagraphs 3), 4) of Article 1 of the Circular on the Conditions, Procedures and Application Materials
for Examining and Approving the Qualifications of Shareholders of Futures Brokerage Companies (ZhengJianQiHuoZi [2002] No.39) conflict
with this Circular, the latter shall prevail.

The agencies shall transmit this Circular to the futures brokerage companies upon its receipt, and urge them to carry it out accordingly.
When examining the establishment and share alteration of futures brokerage companies, the agencies shall, according to the requirements
of this Circular, strictly examine the qualifications of the contributors and their act of contribution, so as to promote the normative
function of the companies.

China Securities Regulatory Commission
2003-01-14

1...456...22 Page 5 of 22

Russia Laws

The basic law

Concluding and Transitional Provisions

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

MEASURES FOR PRICE ADMINISTRATION OF WATER SUPPLY OF WATER ENGINEERING

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

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

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

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

ADMINISTRATIVE MEASURES FOR TAX REGISTRATION

STATISTICAL RULES FOR FOREIGN INVESTMENTS

PROVISIONAL REGULATIONS ON THE MANAGEMENT OF INTERNATIONAL NETWORKING OF COMPUTER INFORMATION NETWORKS

CIRCULAR OF CHINA SECURITIES REGULATORY COMMISSION ON THE RELEVANT ISSUES CONCERNING FUTURES BROKERAGE COMPANIES’ ACCEPTANCE OF CAPITAL CONTRIBUTION

CONSTITUTION ACT, 1982 – page 22

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

CONSTITUTION ACT, 1982 – page 17

CONSTITUTION ACT, 1982 – page 16

CONSTITUTION ACT, 1982 – page 12

CONSTITUTION ACT, 1982 – page 11

CONSTITUTION ACT, 1982 – page 10

CONSTITUTION ACT, 1982 – page 9

CONSTITUTION ACT, 1982 – page 8

CONSTITUTION ACT, 1982 – page 7