CIRCULAR OF THE MINISTRY OF CONSTRUCTION ON PRINTING AND DISTRIBUTING THE INTERIM PROVISIONS OF CONSTRUCTION PROJECT DESIGN OF FOREIGN ENTERPRISES WITHIN THE TERRITORY OF THE PEOPLE’S REPUBLIC OF CHINA

The Ministry of Construction

Circular of the Ministry of Construction on printing and distributing the Interim Provisions of Construction Project Design of Foreign
Enterprises within the Territory of the People’s Republic of China

JianShi [2004] No. 78

May 10, 2004

Construction departments of all provinces and autonomous regions, construction commissions of municipalities directly under the Central
Government (Beijing Municipal Commission of Urban Planning), construction departments of relevant ministries under the State Council,
relevant enterprises under the State-Owned Assets Supervision and Administration Commission of the State Council, Project Administration
of PLA General Logistics Capital Barracks Department, the Construction Bureaus of Xinjiang Production and Construction Corporation:

The Interim Provisions of Construction Project Design of Foreign Enterprises in the Territory of the People’s Republic of China are
hereby printed and distributed to you. Please comply with and implement them.

Annex: Interim Provisions of Construction Project Design of Foreign Enterprises within the Territory of the People’s Republic of China

Annex:Interim Provisions of Construction Project Design of Foreign Enterprises within the Territory of the People’s Republic of China

Article 1

These Provisions are enacted in accordance with the Construction Law of the People’s Republic of China, the Regulation on the Administration
of the Survey and Design of Construction Projects, the Regulation on the Quality Administration of Construction Projects, the Measures
for Survey and Design Bidding of Construction Projects, other laws, regulations and rules with a view to regulate the management
of foreign enterprises undertaking construction project design activities within the territory of the People’s Republic of China.

Article 2

The term “foreign enterprises” in these Provisions refers to the enterprises that are registered out of the territory of the People’s
Republic of China and are engaged in construction project design.

Article 3

Foreign enterprises that offer services of drawing up initial designs of construction projects (basic design), construction drawing
design (detailed design) and other relevant designs within the territory of the People’s Republic of China in forms of trans-border
payment shall abide by the Provisions.

The Provisions do not apply to designs before initial designs of construction projects (basic design).

Article 4

Foreign enterprises to assume construction project designs within the territory of the People’s Republic of China shall select at
least one Chinese designing enterprise with construction project design qualification endorsed by construction administrations (hereinafter
referred to as Chinese designing enterprise) for cooperative design between foreign and Chinese enterprises (hereinafter referred
to as cooperative design), and undertake designing business within the business scope of the selected Chinese designing enterprise(s).

Article 5

Construction designing contracts of cooperative designing project shall be signed by Chinese designing enterprises or jointly signed
by both Chinese and foreign designing enterprises of the cooperative design with construction entities. The contracts shall clearly
stipulate the rights and obligations of each party. Construction designing contracts shall be written in Chinese version.

Article 6

Construction entities shall conduct qualification examination for foreign enterprises in advance and only those that meet the qualifications
can participate in cooperative design.

Article 7

Whilst examining designing qualification of foreign enterprises, construction units have the right to require foreign enterprises
to offer the following valid certification materials that can meet the needs of construction projects. The certification materials
shall include Chinese version and the version in official language of the country where the foreign enterprises are located.

(1)

Business registration certifications approved and issued by governmental administrations of the countries where the enterprises are
located;

(2)

Creditability certifications and enterprise insurance certifications issued by financial institutions of the countries where the enterprises
are located;

(3)

Certifications for Construction design achievements of the enterprises issued by governmental administrations or relevant trade organizations
and notary institution of the countries where the enterprises are located;

(4)

Designing permission certifications issued by governmental administrations or relevant trade organizations of the countries where
the enterprises are located;

(5)

ISO9000 series quality standard certificate issued by international organization;

(6)

Resume, identification certificates, education certificates of the highest level and employment registration certifications of all
technological participants of the Chinese project;

(7)

Letter of intent of cooperative design with Chinese enterprises; and

(8)

Other relevant materials.

Article 8

Foreign enterprises shall sign cooperative design agreements to clearly stipulate the rights and obligations of each party in accordance
with Chinese relevant laws and regulations with the selected Chinese designing enterprises.

Cooperative design agreements shall cover:

(1)

Enterprise names, registration locations and the names, nationalities, identification registration number, address and contact methods
of the legal persons of each party of the cooperative project;

(2)

The names, location and scales of the cooperative project;

(3)

Cooperative scope, time limit and methods and requirements of designing content, depth, quality and progress;

(4)

The division of designing tasks, rights and obligation of each party;

(5)

Fee makeup, distribution and tax payment obligation;

(6)

Responsibilities of agreement violation and dispute settlements;

(7)

Conditions for agreement effective and agreement date and place; and

(8)

Other issues agreed by each party.

Article 9

Construction design contracts (duplicate), cooperative design agreement (duplicate) and materials listed in Article 7 of the Regulations
(copies) shall be submitted to construction administrations of provincial level for the archival purpose.

Article 10

Foreign design enterprises shall undertake construction project designs in accordance with compulsory norms of project construction
and working rules of construction design files issued by the Chinese Government.

Article 5 of Supervision Rules of Project Construction Compulsory Norms Implementation (Decree No 81 of Ministry of Construction)
shall prevail when there are no corresponding compulsory norms.

Article 11

In accordance with Construction Law of the People’s Republic of China, Urban Planning Law of the People’s Republic of China and other
relevant laws, cooperative designing files that must be submitted to relevant departments of Chinese Government shall meet the following
requirements:

(1)

The files shall have Chinese version;

(2)

The files shall conform to relevant rules of construction design;

(3)

The files shall adopt China’s official measurement units;

(4)

Enterprises names of each party and construction names shall be listed on the cover of initial design (basic design) files, and the
first page shall include enterprise names and legal persons, major technologists of each party and the person in charge of the project
and their seals;

(5)

The drawings of construction drawing design (detailed design) files shall include enterprise names of each party of the cooperative
design and signatures of project designers. Other affairs shall be performed in accordance with China’s relevant drawing rules of
construction design files; and

(6)

Initial design (basic design) files and construction drawing design (detailed design) can be validated only after being examined,
signed and sealed by China’s registered architects, registered engineers and persons who have obtained registered employment qualifications
and Chinese enterprises’ official seals shall be included.

When there is no project design registration employment system in some certain specialties, the documents shall be valid after examination
and signing-in these documents by technologists in charge of Chinese side and Chinese enterprises’ official seals shall be included.

Article 12

Foreign design enterprises that undertake construction project design within Chinese territory shall be paid in accordance with China’s
designing fee standards and shall pay tax according to relevant laws to Chinese Government.

When design files offered by foreign enterprises that need examinations and confirmation from Chinese design enterprises in light
with China’s norms and rules, relevant fees shall be paid through negotiation in accordance with international practices or real
workload.

Article 13

Designing organizations from Hong Kong, Macao Special Administrative Region and Taiwan region shall refer to the Provisions.

Article 14

Foreign enterprises in violation with the Provisions shall be imposed a punishment by Chinese Government in accordance with relevant
laws, regulations and rules. Their practices shall be publicized in relevant media and announce to governments and relevant industrial
organizations of the countries where the enterprises locate.

Article 15

Foreign enterprises are forbidden to participate in classified projects, disaster relief and rescue project and other projects that
Chinese Government have not promised to open to foreign countries.

Article 16

The Provisions shall be implemented 30 days as of the day of promulgation.

The Ministry of Construction
2004-05-10

NOTICE OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON ISSUES CONCERNING THE MANAGEMENT OF INTERNAL OPERATION OF FOREIGN EXCHANGE FUNDS OF TRANSNATIONAL COMPANIES

Notice of the State Administration of Foreign Exchange on Issues Concerning the Management of Internal Operation of Foreign Exchange
Funds of Transnational Companies

No. 104 [2004] of the State Administration of Foreign Exchange
October 18, 2004

The branches and the foreign exchange administrative departments of the State Administration of Foreign Exchange (hereinafter referred
to as the branches or FEADs) of all provinces, autonomous regions and municipalities directly under the Central Government,the branches
of the State Administration of Foreign Exchange in Shenzhen, Dalian, Qingdao, Xiamen and Ningbo, and all designated Chinese-funded
foreign exchange banks:

With the view of optimizing the allocation of foreign exchange resources, facilitating and supporting the utilization of foreign exchange
funds and business operations of the transnational companies, the following issues concerning the management of internal operation
of foreign exchange funds of transnational companies are notified hereby according to the Regulation of the People’s Republic of
China on Foreign Exchange and other relevant laws and regulations:

Fundamental Definitions and Management Principles

(1)

The term “transnational company” as mentioned in the present Notice refers to an enterprise group concurrently possessing of member
companies both at home and abroad and one of whose member companies at home exercises the global or regional (including China) investment
management function. Such an enterprise group may be a Chinese-invested holding enterprise group (namely Chinese-invested transnational
company) or a foreign-invested holding enterprise group (namely foreign-invested transnational company).

The term “member companies” as mentioned in the present Notice refers to all companies with independent juridical person qualification
within an enterprise group and with the relationship of one’s holding of the shares of another or held by it.

This Notice shall not apply to transnational financial institutions.

(2)

The term “internal operation of foreign exchange funds” as mentioned in the present Notice refers to an investment financing approach
of a transnational company by lending of foreign exchange funds among the domestic member companies or between a domestic member
company and an overseas member company in order to decrease financial costs and increase the fund utilization efficiency according
to he provision of the present Notice foreign exchange.

(3)

The lending of foreign exchange funds between two member companies may be conducted by a finance company established upon the approval
of the financial competent department according to the Measures for the Administration of Financial Companies of Enterprise Groups.
It may also be conducted by authorizing a designated bank for foreign exchange business to grant loans according to the General Principles
on Loans. Where a domestic member company of a transnational company intends to lend foreign exchange funds to an overseas member
company and the requirements as stipulated in the present Notice are met, it may do so by way of direct lending.

A domestic member company of a transnational company shall abide by the relevant provisions of China on the Management of Foreign
Debts when it borrows foreign exchange funds from an overseas member company and repays the principal and interests of the aforesaid
fund.

(4)

Where a member company of a transnational company lends foreign exchange funds to another, both parties shall stipulate on the lending
interest rate pursuant to the rate of commercial loans of the same period in the international financial market. Such lending interest
rate shall not be abnormally high or low.

(5)

The foreign exchange funds used for internal operation of a transnational company shall be confined to the self-owned foreign exchange
funds which refer to the funds coming from the capital fund account or current foreign exchange account of the domestic member companies
of a transnational company and can be disposed of freely.

(6)

The funds of entrustment lending by a transnational company within China shall not be used for the settlement of foreign exchangeor
be used as a pledge of RMB loan.

(7)

Where a domestic member of a Chinese-invested transnational company lends any foreign exchange fund to any overseas member company,
the balance of foreign exchange lending shall not exceed 20 % of the owner’s rights and interests.

Where a domestic member company of a foreign-invested transnational company lends money to any overseas member company, the balance
of foreign exchange lending shall not exceed the aggregate amount of the part of profit in the previous year that has been distributed
but hasn’t been remitted abroad to foreign investors plus the undistributed enterprise profit that shall be taken by foreign investors
in proportion to their investment.

(8)

When engaging in internal operation of foreign exchange funds, the transnational company shall stick to the principle of payment according
to income. Without permission, it shall not deduct or offset the domestic and overseas the account receivable and the account payable
or make any net settlement.

(9)

When engaging in internal operation of foreign exchange funds, a transnational company shall comply with the present Notice and other
provisions concerning the management of foreign exchange and shall be subject to the administration, supervision and inspection of
the State Administration of Foreign Exchange (hereinafter referred to as the SAFE) and its branches and FEADs.

Qualifications for Internal Operation of Foreign exchange funds of Transnational Companies

(1)

In order to engage in entrustment lending of foreign exchange funds within China, the domestic member companies of a transnational
company shall meet the following requirementsforeign exchange:

(a)

Both the entrusting lender and the borrower shall have been lawfully set up upon registration, and their registered capitals have
been fully paid in due time; and

(b)

The principal and proceeds of the previous entrustment lending of foreign exchange funds between the entrusting lender and the borrower
of domestic member companies foreign exchange have been repaid in the promissory time limit.

(2)

In order to engage in lending of foreign exchange funds to the overseas member companies, the domestic member company of a transnational
company shall meet the following requirements besides the requirements as mentioned in the first paragraph of Article 2 :

(a)

A Chinese-invested transnational company shall have at least 3 member companies abroad;

(b)

A foreign-invested company shall have at least 3 member companies within China; and

(c)

The domestic member company of a China-invested transnational company, whch exercises the global and regional investment management
function of the transnational company, shall have invested at least 5 million dollars in total into the overseas counterpart(s)which
were rated as Class II or higher in the latest joint annual inspection over overseas investments;

(d)

As for a domestic member company of a foreign-funded transnational company that provides the lending funds, the ratio of its foreign
exchange receivable of the previous year to its total foreign exchange asset shall be lower than the normal or average level of the
foreign-funded enterprises of the same industry of the previous year; the amount of bank foreign exchange settlement conducted by
the company in the previous year shall be bigger than its foreign exchange purchase amount; or the margin between the purchase amount
and the settlement amount of the bank shall be lower than the normal or average level of the foreign-funded enterprises of the same
industry of the previous year; the rights and interests of the owner shall not be less than US$ 30 million and the ratio of net asset
to the total asset shall not be less than 20 %;

(e)

As for a member that has been allowed to lend foreign exchange funds to its overseas counterparts, it shall have taken back the principal
and proceeds of the previous fund lent abroad within the promissory time limit.

The Application for Internal Operation of Foreign exchange Funds of Transnational Companies

(1)

Where a transnational company plans to engage in entrusted foreign exchange lending within China, the domestic member company as the
entrusting lender shall file an application to the bank where its capital account or current foreign exchange account is opened.
After the opening bank examines the qualifications of the domestic member company of the transnational company pursuant to requirements
of the present Notice, if it accepts the application, it shall, as the entrusted bank, sign a contract on foreign exchange entrustment
lending with the entrusting lender and the borrower.

The entrusted bank shall, according to the requirements for the “creditors” as mentioned in the Notice of the State Administration
of Foreign Exchange on Reforming the Foreign Exchange Administration of Domestic Foreign Exchange Loans (No. 125 of the State Administration
of Foreign Exchange [2002]), perform the corresponding duties for the operation, supervision and reporting for the record of the
entrusted lending business.

(2)

Where a transnational company plans to engage in entrusted outbound foreign exchange lending, after concluding a lending agreement,
its domestic member company that offers the lending funds shall submit the following materials to the SAFE for examination and approval
via the local branch or FEAD:

(a)

An application (See Attachment 1);

(b)

The lending agreement concluded by the lender and overseas borrower, or by the lender, overseas lender and the entrusted financial
institution within China;

Where the overseas borrower plans to use the foreign exchange funds it borrows to invest in the operation of stocks, bond, futures
etc., the lending agreement shall clearly stipulate that the lender entrusts the overseas borrower to make investments;

(c)

The lender’s financial audit report on the foreign exchange incomes and expenses during the recent year;

(d)

The latest capital verification report of the lender;

(e)

The descriptions about the overseas lending and repayment that has been done;

(f)

In addition, a Chinese-invested transnational company shall offer the name list of its overseas member companies, a copy of the approval
certificate issued by the commerce competent department of every overseas member company, financial accounting statement of the recent
year of the overseas borrower(s) and the joint inspection report over the overseas investments directly related to the overseas borrower(s);
and

(g)

In addition, a foreign-invested transnational company shall offer the name list of its domestic member companies, a copy of foreign
exchange register certificate of every domestic member company and a letter issued by the overseas holding parent company for guaranteeing
the safety of the lending funds (for ensuring full repayment of the principal of the loan offered by the domestic lender and further
investment operation by using such lending funds).

After the branch or FEAD receives the materials submitted by the lender, it shall complete the preliminary examination within 10 working
days and shall report it to the SAFE. After the SAFE receives the aforesaid integrated application materials and confirms them inerrant
upon examination, it shall, within 20 working days, issue an approval to the lender and shall send a copy to the branches or FEADs
where the lender and the enterprises participating in the lending are located. Upon the strength of the approval document, the branches
or FEADs, where the lender and the enterprises participating in the lending are located, shall respectively issue documents of approval
of opening bank account, domestic transfer or overseas payment of foreign exchange under capital foreign exchange business to the
lender and the enterprises participating in the lending.

Procedures for the Internal Operation of Foreign Exchange Funds of Transnational Company

(1)

After a entrustment lending agreement is concluded among the domestic member company which serves as the entrusting lender of a transnational
company, the domestic member company which serves as a borrower and the entrusted bank, the entrusted bank may, pursuant to the Notice
of the State Administration of Foreign Exchange on Reforming the Foreign Exchange Administration of Domestic Foreign Exchange Loans
(No. 125 of the State Administration of Foreign Exchange[2002]), open an foreign exchange loan exclusive account for the borrower,
go through the formalities for transferring the lending funds, repayment of the principal interests. No approval of the SAFE is required
when the entrusted bank conducts transfer of lending funds or repayment funds between the entrusting lenders’ capital account or
current foreign exchange account and the borrower’s foreign exchange loan exclusive account.

The entrusted bank shall regularly report to the local branch or FEAD the changes of the domestic credits of the transnational company
by referring to the formats and contents of Attachments 1-4 (inserting a column post_titled “entrusting lender” after the final column
of each statement as shown in Attachments 1-3; inserting a sub-item post_titled “domestic entrusting lending” for each item under “Credit”
Item in Attachment 4) as listed in the Notice of the State Administration of Foreign Exchange on Reforming the Foreign Exchange Administration
of Domestic Foreign Exchange Loans (No. 125 of the State Administration of Foreign Exchange[2002]) foreign exchange.

(2)

As to a transnational company’s entrustment lending of foreign exchange funds within China, if the term of the loan expires or the
borrower requests for making repayment by installments or ahead of schedule, the entrusted bank shall supervise and assist the entrusting
lender and borrower to repay the loans by following steps: First, transfer the repayment of foreign exchange funds to the original
capital account till the amount of repayment is equal to the amount transferred out of the original capital account. Then, according
to the principle of proportioning the interests to the principal, transfer the remaining part of the principal and interest of the
loan into the current foreign exchange account, out of which the original fund is transferred. Where the repayment is made at the
expiration of the loan, the steps mentioned above shall be achieved within 20 working days as of the day when the lending period
expires. As to the repayment by installments or ahead of schedule, the formalities mentioned above shall be timely achieved as well
in light of the time limit and way as stipulated by three parties.

(3)

When applying for engaging in overseas lending of foreign exchange funds, the transnational company shall submit the following materials
to the local branch and FEAD for opening an overseas lending exclusive account:

(a)

An application for opening a bank account; and

(b)

The document issued by the SAFE for approving its overseas lending.

After the local branch or FEAD confirms the materials mentioned above as inerrant, it shall issue the lender an approval document
for opening a bank account. The bank shall go through the formalities for opening an account for the lender upon the strength of
the aforesaid approval document. The income of the overseas lending exclusive account shall be limited to the foreign exchange funds
transferred to this account from capital account or current foreign exchange account of the lender or other domestic member companies
with approval of the branch or FEAD, the repayment of the principal and interest of the fund lent abroad and the deposit offered
by the overseas controlling parent company for the fulfillment of contract; the expense shall be limited to funds of the overseas
lending with approval of the SAFE and funds transferred back from the corresponding capital account or current foreign exchange account.

(4)

A transnational company may, within 6 months as of the day when the SAFE approves it to engage in overseas lending, remit foreign
exchange funds in approved amount abroad in a lump sum or several times with approval of the local branch or FEAD.

(5)

The time limit for each overseas foreign exchange loan of a transnational company shall not exceed two years. Where the term of the
loan expires or the overseas borrower requests for making repayment by installments or ahead of schedule, the overseas borrower shall
remit the foreign exchange funds for repayment to the original overseas lending exclusive account. With approval of the branch or
FEAD, it first shall transfer foreign exchange funds for repayment back to the original capital account till the amount of repayment
is equal to the amount transferred out of the original capital account; then, pursuant to the principle of proportioning the interests
to the principal, transfer the remaining part of principal and interest of the loan into the current foreign exchange account out
of which the original funds are transferred. If it is necessary to extend the term of the loan, the lender shall file an application
to the local branch or FEAD within 1 month prior to the expiry date.

(6)

Where a domestic member company of a transnational company grants loans to its overseas counterparts, or grants loans and entrusts
its overseas companies to make investment by using the loans, the total amount of the rights and interests generated from the overseas
loans as calculated on the last day of annual calculation shall not be less than the corresponding total amount of the principals
of the overseas loans.

(7)

Where a transnational company grants loans oversea by using foreign exchange funds, the domestic member company lender shall establish
a special ledger for the operation of overseas funds, manage the funds uniformly and conduct the accounting in a centralized way,
and shall formulate a monthly Statement of Changes of Foreign Exchange Fund Positions of Overseas Lending Special Accounts and Statement
of Operation of Overseas Lending Funds (See Attachment 2).

(8)

Where the repayment funds for the domestic and overseas entrusting foreign exchange loans and overseas loans of a transnational company
are remitted or transferred to the capital accounts of the domestic member enterprises, the maximum quota of the capital account
shall not be occupied. When the banks, into which the repayments are remitted or transferred, reply the letters of requests for bank
confirmation, they shall give a clear indication of the words “Repayment Funds” in the column of “Remarks”. No accounting firms may
undertake capital verification business of foreign-funded enterprises on the strength of such kind of replies to letters of requests
for bank confirmation.

Supervision

(1)

Every branch or FEAD shall, pursuant to the statements submitted by banks within its jurisdiction, insert a sub-item “Domestic Entrustment
Lending” under each item “Domestic and Overseas Loans” in the Monthly Statement of Flow and Exchange under Capital Projects and Subordinate
Projects, and submit a statement to the SAFE every month.

A transnational company, which engages in internal operation of overseas loans, shall gather the information on the overseas loans
of its domestic member companies in June each year and submit it to the SAFE via the local branch or FEAD for examination. The information
gathered shall include the following:

(a)

A report on the overseas lending of foreign exchange funds and the operation circumstance of all domestic member companies of the
transnational company during the previous 12 months by the end of May of the current year (See Attachment 3 for the reference format);

(b)

The previous 12-month Statement of Changes of Foreign Exchange Funds Positions of Overseas Lending Special Account and Statement of
Operation of Overseas Lending Funds of the domestic lending member company of the transnational company;

(c)

The previous 12-month audit report on the domestic foreign exchange lending member company of the transnational company; and

(d)

The previous 12-month capital verification report of the domestic member company of the transnational company engaging in overseas
lending (no capital verification reports are required if no capital verification was conducted during the previous year).

(2)

Where the SAFE, within 30 working days after the SAFE receives the complete set of the materials mentioned above, finds upon examination
that the overseas lending conducted by the domestic member company of a transnational company falls short of the qualification requirements
as prescribed in the Article 2 of the present Notice or the rights and interests derived from overseas loans fail to meet the requirements
as mentioned in Article 4 (6), it shall be enpost_titled to disqualify the domestic member company of the transnational company from
lending foreign exchange funds abroad. The domestic member company which is disqualified from lending foreign exchange funds abroad
shall, within 20 working days, takes back the principal and proceeds of overseas loans into the overseas lending special account.
Furthermore, if a foreign-invested transnational company fails to satisfy the requirements as mentioned in Article 4 (6) of the
present Notice in getting repayment of loans, the overseas holding parent company who has issued the letter for guaranteeing the
safety of the lending funds shall perform the guaranty liability within 20 working days after the domestic member company was disqualified
from lending foreign exchange funds abroad. Where a transnational company fails to timely submit the materials as required in Article
5 (2) to the SAFE in light of requirements, it shall be given punishment according to Article 5 (3).

Other Items

(1)

Where a transnational company violates this Notice in its internal operation of foreign exchange funds, it shall be punished by the
branch or FEAD pursuant to Regulation of the People’s Republic of China on Foreign Exchange.

(2)

As to a domestc enterprise group without any member company oversea, the entrustment lending for foreign exchange funds between its
domestic member companies shall be conducted by referring to this Notice.

(3)

The power to interpret this Notice shall remain with the SAFE.

(4)

This Notice shall come into force as of November 1, 2004.

Attachments:

Application of Transnational Companies for Granting Overseas Foreign exchange Loans (for reference of the format)(omitted)

Statement of Changes of Foreign exchange Fund Positions of Overseas Lending Special Accounts and Statement of Operation of Overseas
Lending Funds (for reference of the format)(omitted)

Report on Overseas Foreign exchange Loans and Operation (for reference of the format)(omitted)

the State Administration of Foreign Exchange
2004-10-18

MEASURES GOVERNING THE QUALIFICATION FOR SECURITIES INVESTMENT FUND CUSTODIAN

China Banking Regulatory Commission, China Securities Regulatory Commission

Order of President of China Banking Regulatory Commission and President of China Securities Regulatory Commission

No. 26

Measures Governing the Qualification for Securities Investment Fund Custodian are hereby promulgated and shall come into force as
of January 1, 2005.

President of China Securities Regulatory Commission Shang Fulin

President of China Banking Regulatory Commission Liu Mingkang

November 29, 2004

Measures Governing the Qualification for Securities Investment Fund Custodian

Article 1

The present Measures are formulated according to the Law on Securities Investment Funds, Law on Banking Regulation and other relevant
laws and regulations with a view to standardizing the management of the qualifications as a securities investment fund custodian,
maintaining the competitive order in the securities investment fund custody sector, protecting the legitimate rights and interests
of investors and parties concerned and promoting the healthy development of securities investment funds.

Article 2

To undertake the business of securities investment fund (hereinafter referred to as the “fund”) custody, a commercial bank must obtain
the qualification to perform as a fund custodian after verification and approval by China Securities Regulatory Commission (CSRC)
and China Banking Regulatory Commission (CBRC).

No commercial bank without the qualification as a fund custodian may engage in the business of fund custody.

Article 3

A commercial bank, which applies for the qualification as a fund custodian (hereinafter referred to as “applicant”) must meet the
following requirements:

(1)

during the last three fiscal years, its net assets at the end of the year shall not be lower than 2 billion Yuan and its capital adequacy
ratios shall all be up to the standard as provided for by the regulatory authority;

(2)

having a special fund custody department which shall be independent of its other business departments;

(3)

the person to perform as a senior officer of the fund custody department shall meet the statutory requirements; and there shall be
at least five persons to engage in fund liquidation, accounting, investment supervision, information disclosure and internal auditing
and control, who shall have the qualifications of being employed in the fund sector;

(4)

having the conditions to keep the safety of fund property under it custody;

(5)

having a highly effective clearing and accounting system;

(6)

The fund custody department shall have a fixed place necessary for the conducting of business of and is equipped with an independent
security monitoring system ;

(7)

the fund custody department shall be equipped with an independent technical system for custody business including of network system,
application system and systems for security and protection and data back-up;

(8)

having a sound internal auditing and monitoring system and a risk control system;

(9)

having no record of major illegal or irregular acts during the last three years; and

(10)

other requirements as may be provided for by laws or regulations or by CSRC or CBRC with the approval of the State Council.

Article 4

An applicant, to ensure the safety of the fund property under its custody, must have the following conditions and abilities:

(1)

equipments and facilities required for conducting the fund custody business;

(2)

to open separate account books for each fund and to keep fund assets under its custody integrated and independent;

(3)

to strictly separate and keep its owned assets and fund assets under its custody;

(4)

to supervise the investment operation of fund managers according to law;

(5)

to carry out the instructions of fund managers in disposing of and distributing fund assets according to law;

(6)

to lawfully check and examine the net assets, net value of a fund unit and prices for fund subscription and repurchase as determined
by a fund manager;

(7)

to properly keep the records, account books, statements and other materials concerning its fund custody business; and

(8)

to have a sound internal custody system.

Article 5

The applicant must have a sound clearing and accounting system, which must accord with the following provisions:

(1)

funds involved in the securities transactions occurring in the system must be able to be transferred within two hours;

(2)

it must be able to receive data from relevant stock exchanges in a safe manner;

(3)

it must be able to be connected with the systems of the relevant institutions in a safety manner, such as systems of fund managers,
fund registration institutions and securities registration and clearing institutions; and

(4)

in such system, the liquidation and accounting must be able to be conducted in time through proper implementing of the investment
instructions of the fund managers according to law.

Article 6

The applicant shall have its place, security and precaution facilities and other facilities and relevant systems for its fund custody
business accord with the following provisions:

(1)

the business place of the fund custody department must be relatively independent with an entrance guarding system equipped;

(2)

there must be separate rooms for the posts with access to fund transaction data, where no unconcerned person may enter without permission;

(3)

there must be a sound secret-keeping system for fund transaction data;

(4)

there must be a reliable fund custody data back-up system; and

(5)

there must be a fund custody emergency program to cope with emergencies.

Article 7

The applicant shall submit to CSRC the following application documents with copies thereof to CBRC simultaneously:

(1)

an application;

(2)

special capital verification reports on its net assets and capital adequacy ratio as rendered by an accounting firm with qualifications
for conducting securities-related business;

(3)

a certificate certifying the establishment of a fund custody department;

(4)

provisions concerning the internal structure establishment and post responsibilities;

(5)

basic information of the persons to assume senior officers and staff members of the fund custody department, including the application
materials for assuming senior officers of the persons to assume senior officers , the names, career records, copies of certificates
certifying the qualification of being an employee in the fund sector, professional training and posts of the persons to be the staff
members;

(6)

a report on the conditions for the safety of the fund property under its custody;

(7)

a report on the test of its fund clearing and accounting system;

(8)

a plan for the business place, a design blue print for the security and monitoring system and a report on the installation and test;

(9)

a design blue print for the fund custody business back-up system, an emergency-disposing plan and a report on the test of the ability
to meet emergencies;

(10)

its relevant business rules and regulations, including rules and regulations concerning business management, operation procedures,
fund accounting and auditing, fund liquidation management, information disclosure, internal auditing and monitoring, internal control
and risk management, information system management, security and file management, reporting of major suspicious transactions and
emergency measures and other rules and regulations as may be required for a fund custodian;

(11)

a commercial plan for the development of its fund custody business; and

(12)

other documents as may be required by CSRC and CBRC.

Article 8

CSRC shall, within five working days from the receipt of application documents, make a decision on whether or not to accept the application.
If all application documents have been submitted completely and accord with the legal forms, a certificate of acceptance shall be
issued to the applicant. Otherwise, the applicant shall be notified once for all of those required to be added or corrected.

Article 9

CSRC shall, within 20 working days from acceptance of the application, make a decision on whether or not to grant an administrative
license. In the case of a decision of granting, CSRC shall send the decision to CBRC for its permission; or else, the applicant shall
be notified of the decision accompanied with the reasons explained for such decision indicated, upon which the administrative licensing
procedure shall be terminated.

CBRC shall, within 20 working days from the receipt of the decision sent for its permission, make a decision on whether or not to
permit. In the case of permission, CSRC and CBRC shall jointly sign an approval document and CSRC shall issue a fund custody business
license; or else, the applicant shall be notified of the decision with reasons indicated, upon which the administrative licensing
procedure shall be terminated.

Article 10

Before making a decision to grant an administrative license, CSRC and CBRC shall jointly make a verification on the spot of the preparations
for the establishment of a fund custody department of the applicant.

The verification on the spot shall be carried out by at least two persons.

The time taken for the verification on the spot shall not be calculated into the period of the time mentioned in the preceding article.

Article 11

A commercial bank, which has obtained the qualification as a fund custodian, shall be a fund custodian.

Every fund custodian shall promptly apply for the qualification of being a senior officer for persons to be senior officers of its
fund custody department and the qualification of being employed in the fund sector for persons to be staff members of its fund custody
department, and go through corresponding employment formalities.

Article 12

Every fund custodian shall, in conducting business , keep lawful, honesty and faithful, diligent and devoted, and effectively perform
its statutory and contractual functions and duties.

Article 13

Every fund custodian shall take proper measures according to law to ensure that its fund custody business and selling business on
a commission basis shall be independent of each other and effectively safeguard the integrity and independence of fund assets under
its custody.

Article 14

Fund custodians shall communicate with each other and may not engage in any unfair competition or monopolize the market;

Article 15

Where an applicant conceals relevant facts or provides false application materials, CSRC and CBRC shall not accept its application
or grant any administrative license, and shall give the applicant a warning; and the applicant may not apply for the qualification
as a fund custodian during the period of a year.

Where any applicant has obtained the qualification as a fund custodian by means of fraud or bribery or any other unwarrantable methods,
CSRC shall, in consultation with CBRC, revoke the applicant’s qualification as a fund custodian, and give the applicant a warning
and a fine with its fund custody business license nullified by CSRC; CBRC may, pursuant to different circumstances, charge the applicant
to give a disciplinary sanction to the person in charge who is directly responsible and other persons directly responsible, or give
such persons warnings or fines, or prohibit them from employment in the banking sector for a specified period of time or for their
lifetime; the applicant may not again apply for the qualification as a fund custodian in three years; those suspected of committing
a crime shall be transferred to the judicial organ for investigation for the criminal liabilities.

Article 16

CSRC and CBRC shall make supervision and administration on the fund custody business commercial banksaccording to law.

Article 17

In the case of non-compliance with the requirements as provided for in Articles 3 to 6 of the present Measures, the fund custodian
concerned must promptly report it to CSRC and CBRC and make corrections within a specified time limit.

If the fund custodian fails to report such non-compliance in time, CSRC and CBRC shall charge it to make corrections and give a warning
and fine to the person in charge who is directly responsible and other persons directly responsible; CBRC may charge the fund custodian
to give disciplinary sanctions to the person in charge who is directly responsible and other persons directly responsible; if the
consequences are serious, CSRC may, in addition, suspend or revoke such persons’ qualifications of being senior officers or being
employed in the fund sector, and CBRC may, in addition, prohibit such persons from employment in the banking sector for a specified
period of time or for their lifetime.

Article 18

In the case of non-compliance with the requirements as provided for in Articles 3 to 6 of the present Measures, if the fund custodian
concerned fails to correct such non-compliance, CSRC shall, in consultation with CBRC, suspend or revoke its qualification as a fund
custodian and shall nullify its fund custody business license; as to the person in charge who is directly responsible and other persons
directly responsible, CSRC shall, in consultation with CBRC, give them fines, and may suspend or revoke such persons’ qualifications
of being senior officers or being employed in the fund sector in addition; and CBRC may, in addition, prohibit such persons from
employment in the banking sector for a specified period of time or for their lifetime; those suspected of committing a crime shall
be transferred to the judicial organ for investigation of their criminal liabilities.

Article 19

The present Measures shall be applicable to domestic Chinese-funded commercial banks not to any foreign-funded commercial bank.

Article 20

The present Measures shall come into force as of January 1, 2005.

China Banking Regulatory Commission, China Securities Regulatory Commission
2004-11-29

MEASURES FOR THE ADMINISTRATION OF IMPORT AND EXPORT COAL INSPECTIONS

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

No. 90

Measures for the Administration of Import and Export Coal Inspections, which have been deliberated and adopted by the executive meeting
of the State Administration of Quality Supervision, Inspection and Quarantine on May 30, 2006, are hereby promulgated, and shall
enter into force as of August 1, 2006.
Director General Li Changjiang

June 26, 2006

Measures for the Administration of Import and Export Coal Inspections
Chapter I General Provisions

Article 1

In order to regulate import and export coal inspections, safeguard the health and safety of the people, protect the environment,
improve the quality of import and export coal, and promote the development of coal trade, these Measures are formulated subject to
the Law of the People’s Republic of China concerning Import and Export Commodity Inspection (hereinafter referred to as the Commodity
Inspection Law), the detailed rules for the implementation thereof, as well as other related laws and regulations.

Article 2

These Measures apply to the inspection, surveillance of import and export coal.

Article 3

The State Administration of Quality Supervision, Inspection and Quarantine (hereinafter referred to as the SAQSIQ) shall be responsible
for the inspections of import and export coal in China.

The entry and exit inspection and quarantine institutions established by the SAQSIQ in all localities (hereinafter referred to as
the inspection and quarantine institutions) shall implement inspections and surveillances of import and export coal in accordance
with the division of their respective functions,.

Article 4

An inspection and quarantine institution shall carry out port inspections and surveillances to import coal, and implement the supervision
in the place of origin with the port inspections and surveillance to export coal.

Chapter II Import Coal Inspections

Article 5

The inspection and quarantine institution at the port of discharge shall take charge of inspecting the import coal.

Article 6

A consignee of import coal or its agent shall report to the inspection and quarantine institution at the port of discharge for inspection
in accordance with related provisions of the SAQSIQ before discharging the import coal.

Import coal shall be discharged at a place that meets the requirements for inspection upon the surveillance of the inspection and
quarantine institution at the port.

Article 7

An inspection and quarantine institution shall conduct the inspection on the import coal in terms of safety, health, or environmental
protection, as well as the related quality, quantity, and weight, and shall issue a certificate pursuant to the inspection result
within 10 working days.

The import coal that has not been inspected or fails to pass the inspection shall not be sold or used.

Article 8

In case of the quality problems found in any import coal, the consignee or its agent shall be ordered by the inspection and quarantine
institution to dispose of them effectively under surveillance; as to unqualified issues in safety, health, or environmental protection,
it shall be handled under related provisions of the Regulation for the Implementation of the Commodity Inspection Law, and shall
be timely reported to the SAQSIQ.

Chapter III Inspections of Export Coal

Article 9

The inspection and quarantine institutions at the locality of the export coal production enterprises (hereinafter referred to as
the inspection and quarantine institution in the place of origin) shall be responsible for the categorized administration and daily
surveillance of the export coal production enterprises under their respective jurisdictions.

The inspection and quarantine institution at the port of export shall be in charge of the inspection on the export coal at the said
port.

Article 10

Export coal production enterprises shall adopt a system of categorized administration. The inspection and quarantine institution
at the place of origin shall examine the quality credibility, production and processing techniques, technical conditions of production,
quality guaranty capacity, etc. subject to the standards after receiving the voluntary application of an export coal production enterprise.
The said inspection and quarantine institution shall also classify the export coal production enterprises into four categories, namely
A, B, C and D, and carry out separate surveillance according to different requirements.

Article 11

In accordance with the principle of free will, an export coal production enterprise may apply to the local inspection and quarantine
institution for categorized administration, and shall submit the materials at the time of filing the application as follows:

(1)

an application letter for categorized administration;

(2)

a copy of the business license;

(3)

the work safety permit;

(4)

the certificate document on the quality management system;

(5)

an ichnography of the mining area (station);

(6)

the instruction of the production processing; and

(7)

other materials required by the SAQSIQ.

Article 12

An inspection and quarantine institution shall investigate the application materials after receiving an application. In case of unqualified
applications under examination, the inspection and quarantine institution shall notify the enterprise of all the contents to be supplemented;
as regards the qualified application, it shall organize an on-site assessment within 10 working days, and shall determine the category
of categorized administration applicable to the enterprise within 20 working days as of the assessment on the spot.

Article 13

An enterprise of Category A shall meet the following requirements:

(1)

It shall be an enterprise engaging in the production of clean coal;

(2)

It shall rigidly observe the laws and regulations of the state and related provisions of the SAQSIQ;

(3)

It shall have a sound quality management system, have passed the ISO9000 quality system certification or have quality guaranty capacity
accordingly;

(4)

It shall be equipped with enough effective percussion caps and ironware cleaning devices;

(5)

The coal preparation process can ensure the stability of the quality of the export coal;

(6)

It was not involved in any major quality accident in terms of safety, health, or environmental protection within recent 2 years of
exporting coal;

(7)

The matters of the export coal in terms of safety, health, or environmental protection meet related compulsory requirements of the
state on technical norms.

Article 14

An enterprise of Category B shall meet the requirements as follows:

(1)

It shall be an enterprise engaging in the production of clean coal, or an export coal production enterprise engaging in the processing
of self-produced coal, or an export coal production enterprise partially engaging in coal washing;

(2)

It shall rigidly observe the laws and regulations of the state and related provisions of the SAQSIQ;

(3)

It shall have a moderately sound quality management system;

(4)

It shall be equipped with enough effective percussion caps and ironware cleaning devices;

(5)

It was not involved in any major quality accident in terms of safety, health, or environmental protection within 1 year of exporting
coal;

(6)

The matters of the export coal in terms of safety, health, or environmental protection meet related compulsory requirements of the
state on technical norms.

Article 15

An enterprise of Category C shall meet the requirements as follows:

(1)

It shall be a coal distribution station purchasing coal and processing it for export, or an enterprise engaging in the production
of clean coal, or an export coal production enterprise engaging in the process of self-produced coal, or an export coal production
enterprise partially engaging in coal washing, which has not been appraised to fall within Category A or B;

(2)

It shall rigidly observe the laws and regulations of the state and related provisions of the SAQSIQ;

(3)

It shall have sound quality management system, and shall be equipped with enough effective percussion caps and ironware cleaning devices;

(4)

The mining sites that supplies coal to it shall have passed the survey and approval by the inspection and quarantine institution in
the place of origin, and the emphasis of the survey and approval shall be the percussion cap’s quality indicators in terms of safety,
health, or environmental protection; and

(5)

The matters of the export coal in terms of safety, health, or environmental protection meet related compulsory requirements of the
state on technical norms.

Article 16

An enterprise that fails to apply to the inspection and quarantine institution for categorized administration, or application of
which does not include in Category A, B or C shall be automatically listed as an enterprise of Category D.

Article 17

An inspection and quarantine institution in the place of origin shall make special random inspections and tests on the export coal
production enterprises under related provisions of the SAQSIQ, and publicize the result of the random inspection and tests. The proportion
of random inspections on an enterprise of Category A shall be restricted at 5% to 15% of the groups in which it files an application;
the proportion of random inspections on an enterprise of Category B shall be restricted at 16% to 45% of the groups in which it files
an application; the proportion of random inspections on an enterprise of Category C shall be restricted at 46% to 100% of the groups
in which it files an application; and the proportion of random inspections on an enterprise of Category D shall be 100%.

The SAQSIQ shall uniformly formulate the contents of the special random inspection and test and shall organize the said inspection
for implementation.

Article 18

Before each batch of export coal is shipped and consigned, an export coal production enterprise shall declare to the inspection and
quarantine institution in the place of origin under the export contract or the export plan distributed by the competent department,
as well as the enterprise’s bill of conformity from self-inspection. The inspection and quarantine institution in the place of origin
shall, on the basis of daily surveillance, issue a Document on the Change of Certificate for Exit Goods in accordance with related
provisions.

The valid term of a Document on the Change of Certificate for Exit Goods shall be 6 months. In case of expiration, the export coal
production enterprise or operation enterprise may apply to the inspection and quarantine institution for renewal. The inspection
and quarantine institution may extend the valid term of the Document on the Change of Certificate for Exit Goods for the corresponding
batch by 3 months after confirming the said Document inerrable upon examination.

Article 19

An export coal operation enterprise shall apply to the inspection and quarantine institution at the port under related provisions
of the SAQSIQ for inspection before the export coal arrives at the port for discharge, and shall provide the Document on the Change
of Certificate for Exit Goods during inspection. Where it fails to provide the said Document, the inspection and quarantine institution
at the port shall not accept the application for inspection.

An export coal operation enterprise shall provide related information about coal blending plan, stacks, and means of loading, etc
when applying for inspection of export coal blending.

Article 20

The export coal shall be discharged under the surveillance of the inspection and quarantine institution at the port at a place qualified
for inspection after being carried from the place of origin to the port.

The export coal operation enterprise shall separately pile the export coal entering the site at the port by varieties, and set clear
marks, instead of mixing up the different varieties of coal.

Article 21

The quantity on the Document on the Change of Certificate for Exit Goods shall be written off by the inspection and quarantine institution
at the port.

Article 22

The inspection and quarantine institution at the port shall inspect the matters of export coal in terms of safety, health, or environmental
protection, and the quality, quantity, weight, etc. and shall issue a certificate on the basis of the inspection result within 10
working days.

Article 23

As regards quality problems in export coal, the export coal operation enterprise shall be ordered by the inspection and quarantine
institution at the port to settle the said problems effectively under surveillance. Any export coal that involves a serious quality
problem in terms of safety, health, or environmental protection and is unable to be settled effectively shall not be exported.

Chapter IV Surveillance

Article 24

An inspection and quarantine institution at the place of origin shall be responsible for the daily surveillance of the export coal
production enterprises within its jurisdiction.

An inspection and quarantine institution at the port shall be in charge of surveilling the import and export coal at the port.

Article 25

The contents of daily surveillance conducted by an inspection and quarantine institution in the place of origin on an export coal
production enterprise shall include:

(1)

information about the enterprise abiding by the laws and regulations of the state as well as related provisions of the SAQSIQ;

(2)

information about the quality credibility of the enterprise;

(3)

operation of the its quality management system;

(4)

equipment and operation of the percussion caps and ironware cleaning devices;

(5)

production and processing information;

(6)

the special random inspection and tests;

(7)

survey of the quality problems; and

(8)

other information requiring for inspection.

The inspection and quarantine institution in the place of origin shall establish a filing of surveillance of coal production enterprises
on the basis of the information on daily surveillance.

Article 26

The inspection and quarantine institution in the place of origin shall evaluate the export coal production enterprises under categorized
administration annually.

Article 27

The inspection and quarantine institution in the place of origin shall conduct dynamic administration over the export coal production
enterprises subject to the annual evaluating result, surveillance filing information and the feedback of the inspection and quarantine
institution at the port, and upgrade or degrade them under related provisions of the SAQSIQ.

Article 28

As regards an export coal production enterprise under any of the following circumstances, it shall be ordered to make a rectification
within a time limit by the inspection and quarantine institution in the place of origin, and the issuance of Documents on the Change
of Certificate for Exit Goods to the said enterprise shall be suspended during the period for rectification, and it shall be submitted
to the SAQSIQ:

(1)

It is found to have any dishonest act;

(2)

It refuses to accept or intentionally evades the surveillance;

(3)

The percussion caps and ironware cleaning devices are found to be incompletely equipped or to work under an unusual state;

(4)

Any quality problem in terms of safety, health, or environmental protection arises, and the circumstance is serious;

(5)

The unqualified groups found from the special random inspection and tests exceed 5% of the groups under application.

The inspection and quarantine institution in the place of origin shall, after investigation, resume the issuance of the Document on
the Change of Certificate for Exit Goods to the enterprise complying with the related provisions of SAQSIQ after the rectification.

Article 29

An export coal production enterprise and an operation enterprise shall perfect the quality management rules, improve the quality
guaranty system, enhance the consciousness of quality and good faith, accept the surveillance of inspection and quarantine institution,
and ensure the quality of export coal to meet the compulsory requirements of the technical norms of the state in terms of safety,
health, or environmental protection.

Article 30

An inspection and quarantine institution at the port shall surveil the impunity removal and quality inspection, etc. of the import
and export coal at the port in accordance with the compulsory requirements of the related technical norms of the state,.

Article 31

The SAQSIQ and the inspection and quarantine institutions shall take effective measures, simplify procedures, and facilitate import
and export as required to facilitate foreign trade.

When handling the procedures for applying for inspection of import and export coal and accepting the inspection surveillance, the
form of electronic data documents shall be taken to the qualified enterprises.

Article 32

An inspection and quarantine institution at the port shall establish a rapid information transmission mechanism with the inspection
and quarantine institution in the place of origin, and carry out electronic transmission of information.

The inspection and quarantine institution at the port and the inspection and quarantine institution in the place of origin shall exchange
information with each other on the export coal inspection surveillance every 3 months, and shall timely communicate with each other
concerning the major issues arising out of the inspection surveillance.

The inspection and quarantine institution in the place of origin shall timely publicize the information on the classification and
appraisal of the export coal production enterprises within its jurisdiction to the inspection and quarantine institution at the port.

Article 33

A quality analysis of the import and export coal shall be made by the inspection and quarantine institution at the port once every
half year, and shall be submitted to the SAQSIQ. A copy of the quality analysis of the export coal shall be submitted to the related
inspection and quarantine institution in the place of origin.

Article 34

An inspection and quarantine institution shall timely report to the SAQSIQ the quality problems in terms of the safety, health, or
environmental protection of import and export coal that have aroused strong responses within or outside China.

The SAQSIQ shall publish a pre-warning circular concerning the information of the import coal relating to serious problems on safety,
health, or environmental protection.

Article 35

An inspection and quarantine institution shall, subject to related provisions of the Commodity Inspection Law, punish the acts of
forging, altering or imitating the Document on the Change of Certificate for Exit Goods and other acts violating related provisions
of the Commodity Inspection Law.

Article 36

When an inspection and quarantine institution and its staff perform their duties, they shall follow the law, maintain the interests
of the state, strictly enforce the law pursuant to legal powers and legal procedures, and accept surveillance.

The inspection and quarantine staff shall accept business trainings and evaluation at regular intervals, and may not perform their
duties on their positions unless passing the evaluation.

The inspection and quarantine staff shall be devoted to their duties, render services in a civilized manner, and follow professional
disciplines, and shall not abuse their official capacities or advance private interests.

Article 37

An inspection and quarantine staff member that violates the Commodity Inspection Law by divulging any commercial secret he has access
to shall be given an administrative sanction subject to related laws, and his illegal proceeds, if any, shall be recovered; if any
crime has been committed, criminal liability shall be investigated according to law.

Where any inspection and quarantine staff member abuses his official capacity, deliberately creates difficulties, commits irregularities
for private interests, forges inspection results, or neglects his duties, delays in making an inspection or issuing a certificate,
he shall be given an administrative sanction subject to related laws; if any crime has been committed, criminal liability shall be
investigated according to law.

Chapter V Supplementary Provisions

Article 38

As regards the coal loaded in the place of origin, for which the means of transport is not changed, and which is carried by the original
means of transport directly for export, the inspection in the place of origin as well as the port check and inspection surveillance
shall be conducted subject to the Regulation for the Implementation of the Commodity Inspection Law.

Article 39

As regards the export coal production enterprises under categorized administration by the inspection and quarantine institution before
these Measures are promulgated, the inspection and quarantine institution shall still conduct surveillance on the enterprises in
light of the original surveillance category of categorized administration.

Article 40

These Measures are subject to the interpretation of the SAQSIQ.

Article 41

These Measures shall take effect as of August 1, 2006. Measures for the Administration of Export Coal Inspections promulgated by
the former State administration for entry-exit inspection and quarantine (Order No. 18 of the State Administration of Inspection
and Quarantine) shall be abolished simultaneously.

The State Administration of Quality Supervision, Inspection and Quarantine
2006-06-26

ANIMAL HUSBANDRY LAW

Animal Husbandry Law of the People’s Republic of China

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

No. 45

The Animal Husbandry Law of the People’s Republic of China, adopted at the 19th Meeting of the Standing Committee of the Tenth
National People’s Congress of the People’s Republic of China on December 29, 2005, is hereby promulgated and shall go into effect
as of July 1, 2006.

Hu Jintao

President of the People’s Republic of China

December 29, 2005

(Adopted at the 19th Meeting of the Standing Committee of the Tenth National People’s Congress on December 29, 2005)

Contents

Chapter I　General Provisions

Chapter II　Protection of Genetic Resources of Livestock and Poultry

Chapter III　 Selective Breeding of the Breeding Livestock and Poultry and Production and Operation in This Respect

Chapter VI　Breeding of Livestock and Poultry

Chapter V　Trading in and Transportation of Livestock and Poultry

Chapter VI　Guarantee for Quality and Safety

Chapter VII　Legal Responsibility

Chapter VIII　Supplementary Provisions

Chapter I　General Provisions

Article 1　This law is enacted in order to standardize the production and operation in animal husbandry, to guarantee the quality
and safety of livestock and poultry products, to protect and make rational use of the genetic resources of livestock and poultry,
to safeguard the lawful rights and interests of the producers and operators in animal husbandry and to promote sustained and healthy
development of animal husbandry.

Article 2　This Law is applicable to protection and utilization of the genetic resources, breeding, raising, operation and transportation
of livestock and poultry within the territory of the People’s Republic of China.

For the purposes of this Law, livestock and poultry mean the livestock and poultry given in the catalogue of the genetic resources
of livestock and poultry published in accordance with the provisions of Article 11 of this Law.

The relevant provisions of this Law shall be applicable to protection and utilization of, as well as production and operation in,
bee and silkworm resources.

Article 3　The State supports the development of animal husbandry and gives play to its role in the development of agriculture and
the rural economy as well as in the increase of the farmers’ incomes. People’s governments at or above the county level shall
take measures to strengthen the construction of infrastructure for animal husbandry, to encourage and support large-scale raising
and breeding, to push forward the industrialized operation of animal husbandry, to increase all-round productivity of animal husbandry
and to develop quality, highly efficient, ecologically sound and safe animal husbandry.

The State assists and supports the development of animal husbandry in minority nationality areas and poverty-stricken areas, protect
and rationally utilize grasslands and improve the conditions of production in animal husbandry.

Article 4　The State takes measures to train professionals for animal veterinary, to promote scientific and technological research
in animal husbandry and veterinary medicine and the wide use of the research results, to disseminate scientific and technological
knowledge of animal husbandry and veterinary medicine and provide information concerning animal husbandry and veterinary medicine
and to promote scientific and technological progress in animal husbandry.

Article 5　Producers and operators in animal husbandry may, of their own free will, establish an association of the industry according
to law, in order to provide to their members services in the terms of information, technology, marketing, training, etc., improve
self-regulation of the industry and protect the interests of their members and the industry.

Article 6　Producers and operators in animal husbandry shall perform the duty of animal epidemic prevention and environmental protection
according to law and accept the supervision and inspection carried out by relevant departments in charge according to law.

Article 7　The administrative department for animal husbandry and veterinary medicine under the State Council shall be in charge
of supervision and administration over animal husbandry nationwide. The administrative departments for animal husbandry and veterinary
medicine under the local people’s governments at or above the county level shall be in charge of supervision and administration
over animal husbandry within their own administrative areas.

The relevant competent departments of the people’s governments at or above the county level shall, within the scope of their respective
duties, be responsible for promoting the development of animal husbandry.

Article 8　The administrative department for animal husbandry and veterinary medicine under the State Council shall give guidance
to producers and operators in animal husbandry to help them improve the conditions and environment for the breeding, raising and
transportation of livestock and poultry.

Chapter II　Protection of

Genetic Resources of livestock and poultry

Article 9　The State establishes the system for protection of the genetic resources of livestock and poultry. People’s governments
at various levels shall take measures to strengthen protection of the genetic resources of livestock and poultry, and the funds for
protection of the genetic resources of livestock and poultry shall be incorporated in their respective financial budgets.

The State plays the major role in protection of the genetic resources of livestock and poultry, and encourages and supports the relevant
units and individuals to develop undertakings for protection of the genetic resources of livestock and poultry according to law.

Article 10　The administrative department for animal husbandry and veterinary medicine under the State Council shall set up a national
commission for genetic resources of livestock and poultry, to be composed of specialists, which shall be responsible for identification
and assessment of the genetic resources of livestock and poultry as well as for verification of new breeds and synthetic strains
of livestock and poultry, and shall provide demonstration of the plans for protecting and utilizing the genetic resources of livestock
and poultry and offer consultancy regarding protection of such resources.

Article 11　The administrative department for animal husbandry and veterinary medicine under the State Council shall be responsible
for organizing investigations of the genetic resources of livestock and poultry, releasing reports on the conditions of the genetic
resources of livestock and poultry of the country and publishing the catalogue of the genetic resources of livestock and poultry
approved by the State Council.

Article 12　The administrative department for animal husbandry and veterinary medicine under the State Council shall, on the basis
of the geological distribution of the genetic resources of livestock and poultry, make the national plan for protecting and utilizing
such resources, draw up and publish the directory of the genetic resources of livestock and poultry under protection at the national
level, and provide special protection for the genetic resources of precious, rare and endangered genetic resources of livestock and
poultry which are of Chinese origin.

The administrative departments for animal husbandry and veterinary medicine under the people’s governments at the provincial level
shall, based on the national plan for protecting and utilizing the genetic resources of livestock and poultry and the conditions
of the genetic resources of livestock and poultry within their administrative areas, draw up and publish the directory of the genetic
resources of livestock and poultry under protection at the provincial level, and submit them for the record to the administrative
department for animal husbandry and veterinary medicine under the State Council.

Article 13　The administrative department for animal husbandry and veterinary medicine under the State Council, in accordance with
the national plan for protecting and utilizing the genetic resources of livestock and poultry and the directory of the genetic resources
of livestock and poultry under protection at the national level, and the administrative departments for animal husbandry and veterinary
medicine under the people’s governments at the provincial level, in accordance with the directory of the genetic resources of livestock
and poultry under protection at the provincial level, shall respectively set up or determine the breeds reservation farms, protection
zones and gene banks of the genetic resources of livestock and poultry, which shall assume the task of protecting the genetic resources
of livestock and poultry.

No breeds reservation farms, protection zones or gene banks of the genetic resources of livestock and poultry sponsored by the Central
Government or provincial governments shall dispose of the protected genetic resources of livestock and poultry without approval by
the administrative department for animal husbandry and veterinary medicine under the State Council or by such a department under
the people’s government at the provincial level.

Gene banks of the genetic resources of livestock and poultry shall, in accordance with the regulations of the administrative department
for animal husbandry and veterinary medicine under the State Council or of such a department under the people’s government at the
provincial level, regularly collect and update their genetic data on livestock and poultry. The units and individuals concerned shall
cooperate with the gene banks of the genetic resources of livestock and poultry in collecting genetic data on livestock and poultry,
and shall have the right to receive appropriate financial compensation.

The measures for administration of the breeds reservation farms, protection zones and gene banks of the genetic resources of livestock
and poultry shall be formulated by the administrative department for animal husbandry and veterinary medicine under the State Council.

Article 14 Before sending newly discovered genetic resources of livestock and poultry for identification by the national commission
for genetic resources of livestock and poultry, the administrative department for animal husbandry and veterinary medicine under
the people’s government at the provincial level shall draw up a protection plan, take provisional protective measures, and submit
the matter for the record to the administrative department for animal husbandry and veterinary medicine under the State Council.

Article 15　Where genetic resources of livestock and poultry are to be introduced from abroad, an application shall be submitted
to the administrative department for animal husbandry and veterinary medicine under the people’s government at the provincial level;
and after examination, the administrative department for animal husbandry and veterinary medicine that accepts the application shall
submit the application to the administrative department for animal husbandry and veterinary medicine under the State Council for
approval after assessment and demonstration. Upon approval, the relevant formalities shall be gone through and quarantine inspection
shall be conducted in accordance with the provisions of the Law of the People’s Republic of China on the Entry and Exit Animal
and Plant Quarantine.

Where it is discovered that the genetic resources of livestock and poultry introduced from abroad are harmful, or may become harmful,
to the genetic resources of livestock and poultry and the ecological environment at home, the administrative department for animal
husbandry and veterinary medicine under the State Council shall, after consultation with the relevant departments in charge, take
the necessary safety and control measures.

Article 16　Where an entity intends to export the genetic resources of livestock and poultry included in the directory for protection
or conduct research in the utilization of the above in cooperation with a foreign institution or individual in China, it shall submit
an application, together with a plan for the benefits to be jointly shared by the countries concerned, to the administrative department
for animal husbandry and veterinary medicine under the people’s government at the provincial level; and after examination, the
administrative department for animal husbandry and veterinary medicine that accepts the application shall submit the application
to the administrative department for animal husbandry and veterinary medicine under the State Council for approval.

Where genetic resources of livestock and poultry are to be exported abroad, the relevant formalities shall be gone through and quarantine
inspection shall be conducted in accordance with the provisions of the Law of the People’s Republic of China on the Entry and Exit
Animal and Plant Quarantine as well.

Before newly discovered genetic resources of livestock and poultry are identified by the national commission for genetic resources
of livestock and poultry, they shall not be exported abroad, and no research in their utilization shall be conducted in cooperation
with any institution or individual from abroad.

Article 17　The measures for examination and approval in respect of the entry and exit of genetic resources of livestock and poultry
and in respect of research in their utilization in cooperation with foreign entities shall be formulated by the State Council.

Chapter III　Selective Breeding of the Breeding Livestock and

Poultry and Production and Operation in This Respect

Article 18　The State gives aid to the selective breeding of different strains of livestock and poultry and to the wide use of improved
strains, supports enterprises, colleges and universities, scientific research institutions and technological popularization units
in their effort to carry out joint breeding and set up a system for the breeding of improved strains of livestock and poultry.

Article 19　Prior to their wide use, the new strains of livestock and poultry, their synthetic strains and the newly discovered
genetic resources of livestock and poultry shall undergo verification or identification by the national commission for genetic resources
of livestock and poultry, and the administrative department for animal husbandry and veterinary medicine under the State Council
shall announce the results thereof. The measures for verification of the new strains of livestock and poultry and their synthetic
strains and the measures for identification of the genetic resources of livestock and poultry shall be formulated by the administrative
department for animal husbandry and veterinary medicine under the State Council. The expenses for testing and checking required for
verification or identification shall be borne by the applicants, and the measures for collecting such expenses shall be formulated
by the finance and pricing departments under the State Council in conjunction with the administrative department for animal husbandry
and veterinary medicine under the State Council.

Intermediate testing conducted in respect of the new strains of livestock and poultry and their synthetic strains shall be subject
to approval by the administrative department for animal husbandry and veterinary medicine under the people’s government at the
provincial level where such testings are conducted.

The legitimate rights and interests of the breeders of new strains of livestock and poultry and their synthetic strains shall be
protected by law.

Article 20　The breeding, testing, verification and wide use of the transgenic strains of livestock and poultry shall be in conformity
with the regulations of the State on control of agricultural transgenic organisms.

Article 21　The institutions for dissemination of animal husbandry and veterinary technologies at or above the provincial level
may organize to conduct registration of individual fine strains of the breeding livestock, and recommend fine strains of the breeding
livestock to the community. The rules for the registration of the fine strains of breeding livestock shall be formulated by the administrative
department for animal husbandry and veterinary medicine under the State Council.

Article 22　Units or individuals that intend to engage in production and operation in the breeding or in the commercial production
of young livestock and poultry shall obtain the license for production and operation of breeding livestock and poultry. Applicants
shall, according to law, register with the administrative department for industry and commerce on the strength of the license for
production and operation in the breeding livestock and poultry, and they may engage in activities in this area only after obtaining
the business license.

To obtain the license for production and operation in the breeding livestock and poultry, the applicant shall meet the following
conditions:

(1) The breeding livestock and poultry for production and operation must be the breeds and the synthetic strains that have gone through
the verification or identification by the national commission for genetic resources of livestock and poultry, or the breeds and synthetic
strains introduced from abroad upon approval;

(2) They have animal husbandry and veterinary technicians commensurate with the scale of production and operation;

(3) They have the breeding facilities and equipment commensurate with the scale of the production and operation;

(4) They have the conditions for prevention of epidemic diseases among the breeding livestock and poultry, as required by laws and
administrative regulations as well as by the administrative department for animal husbandry and veterinary medicine under the State
Council;

(5) They have the sound systems for quality control and for recording the breeding of strains; and

(6) They have the other conditions as provided for by laws and administrative regulations.

Article 23　To apply for the license for production and operation of such genetic material as the ova, frozen sperms and embryos
of livestock, the applicant shall, in addition to conforming to the conditions provided for in the second paragraph of Article 22
of this Law, meet the following conditions:

(1) the conditions for laboratories and for safekeeping and transportation, as specifies by the administrative department for animal
husbandry and veterinary medicine under the State Council;

(2) the requirements for the quantity and quality of the breeding livestock, as specified by the administrative department for animal
husbandry and veterinary medicine under the State Council;

(3) the embryos obtained from adoscuolation and the ova to be used come from unequivocal sources, and the donors conform to the standards
and requirements, as specified by the State with regard to the health and quality of the breeding livestock; and

(4) other technical requirements specified by the administrative department for animal husbandry and veterinary medicine under the
State Council.

Article 24　For obtaining the license for production and operation of such genetic material as the ova, frozen sperms and embryos
of livestock, an application shall be submitted to the administrative department for animal husbandry and veterinary medicine under
the people’s government at the provincial level. The said department that accepts the application shall, within 30 working days
from the date it receives the application, complete the examination of the application and shall submit it to the administrative
department for animal husbandry and veterinary medicine under the State Council for examination and approval; and the said department
under the State Council shall, within 60 working days from the date it receives the application, make a decision, in accordance with
law, on whether to issue such a license.

The license for production and operation of other breeding livestock and poultry shall be issued after examination by the administrative
department for animal husbandry and veterinary medicine under the local people’s government at or above the county level. The specific
measures for examination and issuance of such license shall be formulated by a people’s government at the provincial level.

The form of the license for production and operation of breeding livestock and poultry shall be worked out by the administrative
department for animal husbandry and veterinary medicine under the State Council, and it shall be valid for a period of three years.
The cost of such license issued may be collected. The specific administrative measures for collection of the cost shall be formulated
by the finance and pricing departments under the State Council.

Article 25　 In the license for production and operation of the breeding livestock and poultry shall clearly be stated such matters
as the name or post_title of the producer or operator, the address of the farm (factory), the scope of production or operation and the
beginning and ending dates of the valid term of the license.

No unit or individual shall engage in production or operation of the breeding livestock and poultry without the license for the production
and operation of breeding livestock and poultry or in violation of the provisions of the license for production and operation of
the breeding livestock and poultry. Forging, altering, transferring and leasing of the license for production and operation of the
breeding livestock and poultry are prohibited.

Article 26　There is no need for a rural household to obtain a license for production and operation of the breeding livestock and
poultry, if its breeding livestock and poultry are bred and raised for its own use or it has a small number of surplus young livestock
and poultry for sale, or if rural households raise sires to help each other in breeding.

Article 27　Persons specially engaged in the breeding of livestock, such as artificial insemination and embryo transplantation,
shall obtain the necessary professional qualification certificate of the State.

Article 28　To launch an advertisement for the breeding livestock and poultry, an advertiser shall provide the license for production
and operation of the breeding livestock and poultry and the business license. The contents of such advertisement shall be in conformity
with the provisions of relevant laws and administrative regulations, and the name or post_title of the verifier or identifier for the
breeds of the breeding livestock and poultry and the synthetic strains shall clearly be stated; and the descriptions of their main
characters shall be in conformity with the standards for such breeds and synthetic strains.

Article 29　The breeding livestock and poultry for sale and the sires used by artificial insemination stations for livestock must
meet the standards for breeding. The breeding livestock and poultry for sale shall have attached to them the qualification certificate
of the breeding livestock and poultry issued by the breeding livestock and poultry farms, the quarantine certificate issued by the
supervisory institution for animal epidemic prevention, and the breeding livestock for sale shall, in addition, have attached to
them the pedigree issued by the breeding livestock and poultry farms.

Complete records shall be kept for the collection, sale, transplantation, etc. of such genetic material produced as the ova, frozen
sperms and embryos of the livestock, and the records shall be kept for two years.

Article 30　No entity shall commit one of the following acts in selling the breeding livestock and poultry:

(1) to pass the breeds and synthetic strains of other livestock and poultry off as the breeds and synthetic strains of the breeding
livestock and poultry displayed for sale;

(2) to pass the breeding livestock and poultry of an inferior generation off as the ones of a superior generation;

(3) to pass the livestock and poultry that do not meet the breeding standards off as the breeding livestock and poultry;

(4) to sell the breeding livestock and poultry imported without approval;

(5) to sell the breeding livestock and poultry with no qualification certificate or quarantine certificate of the breeding livestock
and poultry attached to them, or to sell the breeding livestock with no pedigree attached to them, as provided for by Article 29
of this Law; or

(6) to sell the breeds and synthetic strains of the breeding livestock and poultry that are not verified or identified.

Article 31　To apply for import of the breeding livestock and poultry, the applicant shall have the license for production and operation
of the breeding livestock and poultry. The valid term of the approval document for import of the breeding livestock and poultry shall
be six months.

The imported breeding livestock and poultry shall meet the technical requirements prescribed by the administrative department for
animal husbandry and veterinary medicine under the State Council. With respect to the breeding livestock and poultry imported for
the first time, their breeding characters shall be subject to assessment by the national commission for genetic resources of livestock
and poultry.

In addition to the provisions of the preceding two paragraphs, the relevant provisions of Articles 15 and 16 of this Law shall be
applicable to control of the import and export of the breeding livestock and poultry.

The State encourages the breeders of livestock and poultry to make selective breeding of new breeds and the synthetic strains of
the imported livestock and poultry; and before such new breeds and synthetic strains for selective breeding are used on a broad scale,
they shall be subject to verification by the national commission for genetic resources of livestock and poultry.

Article 32 Where farms and hatcheries of the breeding livestock and poultry sell young livestock and poultry as commercial products,
they shall provide the buyers with the main points in relation to the young livestock and poultry they are selling as commercial
products, such as the norms of their productive properties, their immunity to diseases, and the technical requirements for their
breeding, as well as with the relevant consultancy services, and shall attach to them the quarantine certificates issued by the supervisory
institution for animal epidemic prevention.

Where losses are caused to the breeders of livestock and poultry due to the quality of the breeding livestock and poultry sold or
the quality of the young livestock and poultry sold as commercial products, compensation for such losses shall be made according
to law.

Article 33　The administrative department for animal husbandry and veterinary medicine under the people’s government at or above
the county level shall be in charge of supervision and control over the quality and safety of the breeding livestock and poultry.
Statutorily qualified institutions for examination of the quality of the breeding livestock and poultry shall be entrusted with the
supervision over and examination of the quality and safety of the breeding livestock and poultry; and the expenses required for such
examination shall be defrayed in accordance with the regulations of the State Council, and shall not be collected from the persons
for whom such examination has been conducted.

Article 34　The relevant provisions of this Law shall be applicable to protection of silkworm egg resources, the selective breeding
of new strains, their production and operation, as well as their wide use. The specific administrative measures in this respect shall
be formulated by the administrative department for agriculture under the State Council.

Chapter VI　Breeding of Livestock and Poultry

Article 35　The administrative department for animal husbandry and veterinary medicine under the people’s government at or above
the county level shall, in accordance with the development plan for animal husbandry and in compliance with market demands, give
guidance to and support the restructuring of animal husbandry, promote the production of livestock and poultry and enhance the market
competition of livestock and poultry products.

The State assists capital construction projects in pastoral areas of grasslands, such as erecting fences, building water conservancy
projects, improving the grassland and building bases of forage grass and feeds, in order to optimize the composition of livestock
herds, improve the strains, transform the mode of production, promote the rearing of livestock in pens or sties, and rotated grazing
in demarcated areas, gradually bring about a balance between pastures and livestock and improve the ecological environment of grasslands.

Article 36　The State Council and the people’s governments at the provincial level shall arrange such funds in their respective
financial budgets as the subsidies for fine strains and discount subsidies to assist the development of animal husbandry, and encourage
the relevant financial institutions to support, by providing loans, insurance services and other means, the breeders of livestock
and poultry to buy fine livestock and poultry, to breed fine strains, to improve production facilities, to expand the scale of breeding,
in order to increase the benefits derived from breeding.

Article 37　The State supports rural collective economic organizations, the farmers and the cooperative economic organizations for
animal husbandry in setting up livestock and poultry breeding farms and small-scale breeding villages and developing large-scale
and standardized breeding. In the overall plans of townships (towns) for land use, arrangements shall, in the light of the local
conditions, be made for land to be used for the breeding of livestock and poultry. The land used by rural collective economic organizations,
farmers, and cooperative economic organizations for animal husbandry to set up livestock and poultry breeding farms or small-scale
breeding villages in accordance with the overall plans of townships (towns) for land use shall be administered as land for agriculture.
Where at the expiration of the period of time for the right to land use, the land used for livestock and poultry breeding farms and
small-scale breeding villages is required to be restored to the original purposes of use, the user with such right shall be responsible
for such restoration. Where for construction of permanent buildings (structures) within the scope of the land used for livestock
and poultry breeding farms or small-scale breeding villages, land for agriculture needs to be converted to other purposes of use,
the matter shall be handled in accordance with the provisions of the Land Administration Law of the People’s Republic of China.

Article 38　The institu

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON CORRECTING THE RELEVANT CLAUSES IN THE CHINESE VERSION OF THE TAX AGREEMENT BETWEEN THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF GEORGIA

Circular of the State Administration of Taxation on Correcting the Relevant Clauses in the Chinese Version of the Tax Agreement between
the People’s Republic of China and the Government of Georgia

Guo Shui Fa [2006] No. 124

The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central
Government, and the cities specifically designated in the state plan, and all entities under the State Administration of Taxation:

The Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Incomes and Properties
between the Government of the People’s Republic of China and the Government of Georgia was subscribed in due form in Beijing on June
22, 2005. It shall enter into force on November 10, 2005 and be implemented as of January 1, 2006. The text of the aforesaid agreement
has been printed and distributed to all the regions by the State Administration of Taxation through the Document of Guo Shui Fa [2005]
No. 114 on July 6, 2005. Recently, the State Administration of Taxation found in the process of implementing the aforesaid agreement
that there were misrepresentations in Paragraph 2 of Article 10 (Dividends) in the Chinese version. In accordance with the English
version on which both parties has reached consentaneously, we hereby correct three items on collecting taxes on dividends as prescribed
in Paragraph 2 of Article 10 (Dividends) in the Chinese version, the corresponding English of which is as follows:

(1)

if the beneficial owner holds directly or indirectly at least 50% of the shares of the company paying the dividends or has invested
in the said company for up to two million euros, zero per cent of the gross amount of the dividends shall be assessed upon;

(2)

if the beneficial owner holds directly or indirectly at least 10% of the shares of the company paying the dividends or has invested
in the said company for up to 100,000 euros, five per cent of the gross amount of the dividends shall be assessed upon; and

(3)

in other circumstances, 10 per cent of the gross amount of the dividends shall be assessed upon.

The State Administration of Taxation

August 16, 2006

The State Administration of Taxation
2006-08-16

ANNOUNCEMENT NO.34, 2007 OF MINISTRY OF COMMERCE, PROMULGATING ANNOUNCEMENT ON QUALIFICATION EXAMINATION AND APPROVAL OF THE SECOND PUBLIC BIDDING OF LIGHT AND HEAVY BURNED MAGNESIUM, FLUORITE, TALC, BAUXITE, CARBORUNDUM, LIQUORICE AND LIQUORICE PRODUCTS IN 2007

Announcement No.34, 2007 of Ministry of Commerce, Promulgating Announcement on Qualification Examination and Approval of the Second
Public Bidding of Light and Heavy Burned Magnesium, Fluorite, Talc, Bauxite, Carborundum, Liquorice and Liquorice Products in 2007

[2007] No.34

In accordance with regulations of the Public Bidding Measures on Quota of Export Commodities and Detailed Implementation Regulations
of Public Bidding on Industry Products Export Quota, related issues on export quota of industrial products of the second public bidding
in 2007 are now announced as follows:

Commodity

Light and heavy burned magnesium, fluorite, talc, bauxite, carborundum, liquorice and liquorice products (please refer to appendix
1 for specific commodity tariff code).

Time for pubic bidding

As from May 2007, Ministry of Commerce committee of export commodity quota tendering will launch the second public bidding on export
quota of above commodities. The announcement on the bidding will be release on International Business Daily, website of Ministry
of Commerce and website of China International Electronic Commerce.

Examination and approval procedures of the second public bidding in 2007

Please refer to Announcement No.84, 2006 of Ministry of Commerce for standards on qualifications of bidding enterprises of the second
public bidding of light and heavy burned magnesium, fluorite, talc, bauxite, carborundum, liquorice and liquorice products.

(1)

. Preliminary examination;

Departments of all provinces, autonomous regions, municipalities, cities specially designated in the state plan and Xinjiang Production
and Construction Corps are in charge of the preliminary examination of the local enterprises; China Chamber of Commerce of Metals
Minerals & Chemicals Importers & Exporters and China Chamber of Commerce for Import & Export of Medicines & Health
Products (hereinafter referred to as “bidding office”) are in charge of preliminary examination of enterprises directly under administration
of the central government;

Enterprises with export and supplying performance of above commodities may apply for the preliminary examination;

Departments of commercial administration and bidding offices shall examine and approve in line with related regulations.

(2)

. Review

Related bidding offices are responsible for review of bidding enterprises;

Local departments of commercial administration shall inform enterprises that pass the preliminary examination to put forward related
date and materials to bidding offices;

Bidding offices shall report the result of review to tendering committee before May 18, 2007;

Tendering committee shall examine and approve above materials for review and release announcement.

As regards technical support of internet bidding, please contact with China International Electronic Commerce Center.

Appendix:

Customs Code of the Commodity

Application Form for Bidding Enterprises

Form on Statistics on Qualifications of Bidding Enterprises

Ministry of Commerce

Apr 10, 2007

Ministry of Commerce
2007-04-10

MEASURES FOR REGULATING THE WORK SAFETY OF ELECTRICITY

State Electricity Regulatory Commission

Order of the State Electricity Regulatory Commission

No. 2

The Measures for Regulating the Work Safety of Electricity, adopted at the executive meeting of the State Electricity Regulatory Commission,
are hereby promulgated and shall be implemented as of the date of the promulgation.

Chai Songyue, Chairman of the State Electricity Regulatory Commission

March 9, 2004

Measures for Regulating the Work Safety of Electricity

Chapter I General Provisions

Article 1

With a view to effectively implementing supervision over the work safety of electricity, safeguarding the safety of the electricity
system, and maintaining social stability, the present Measures are hereby formulated in accordance with the Production Safety Law
of the People’s Republic of China, and the Electricity Law of the People’s Republic of China and the relevant laws and regulations.

Article 2

The rudder of “safety first, focus on prevention” shall be adhered to for work safety of electricity.

Article 3

The objectives of electricity work safety shall be to maintain the safety and stability of the electricity system, ensure the normal
supply of the electricity, prevent and put an end to the occurrence of death of persons, power cut in wide areas, serious damage
of major equipments, breakdown of power plants, great fire, and other major or great accidents, and accidents that may have great
bad effects on society.

Article 4

The state advocates and encourages electricity enterprises to use, develop and popularize continuously the advanced and applicable
technical facilities that are conducive to ensuring the safety and reliability of the electricity system and to adopt scientific
management methods, in order to realize the technology innovation and management innovation of the work safety of electricity.

Article 5

These Measures shall be applicable to the power grid management enterprises, power supply or generation enterprises, engaged in the
production and management of electricity within the territory of the People’s Republic of China.

Chapter II Supervision over the Work Safety of Electricity

Article 6

Upon the authorization of the State Council, the State Electricity Regulatory Commission (hereinafter referred to as the SERC) shall
be responsible for the work of the supervision over the work safety of electricity nationwide. And the State Administration of Work
Safety shall be responsible for the work of comprehensive administration on the work safety of electricity nationwide.

Article 7

The SERC shall establish institutions for regulating the work safety of electricity, and exercise the following functions for regulating
the safety of electricity:

Being responsible for organizing according to laws the formulation of the rules on and criterion for the work safety of electricity.

Organizing the inspection over the work safety of electricity, urging the implementation of the various measures for work safety.

Being responsible for the statistics, analysis, and publicity of the information on work safety of electricity nationwide.

Organizing investigation into the major or great work safety accidents in the electricity industry nationwide.

Organizing to make inspection, diagnosis, analysis and evaluation on the work safety status of the electricity industry nationwide.
And

Granting honor and awards to the outstanding contributors in the work of work safety of electricity, and putting forward punishment
suggestions concerning entities or personnel that are liable for the accidents.

Chapter III Liabilities for Work Safety of Electricity Enterprises

Article 8

The electricity enterprises are the subjects of the liability for work safety of electricity. The State Power Grid Corporation of
China and the South China Power Grid Co., Ltd. shall be responsible for the safety of the power grids within their respective jurisdictions.
The State Power Grid Corporation of China shall bear the safety liability for the connected circuitry of the south China power grid
and the power grids in other regions, which shall be clarified in the power connection agreement. The electricity generation enterprises
shall be responsible for the work safety of enterprises respectively within their jurisdictions in light of the principle of “those
who are in charge shall be responsible”.

Article 9

Each electricity enterprise shall be responsible for the overall work safety of its own entity. The leading administrative person
in charge of the enterprise shall be the primary responsible person for work safety.

Establishing and implementing the work safety responsibility system level by level.

Establishing and improving the guarantee system for the work safety of electricity and the system of supervision over the work safety
of electricity; and strictly observing the pertinent laws, regulations and vocational rules and criterion of the state with regard
to the safety of electricity.

Formulating preparatory plans for urgent handling of the accidents of work safety of electricity.

Supervising or inspecting the work safety work and eliminating the hidden troubles of accidents in good time. And

Implementing education and training on work safety.

Chapter IV Safety of the Electricity System

Article 10

The power grid management enterprises, power supply and generation enterprises, and the electricity users shall have the duty to maintain
the safety and stability of the electricity system together.

Article 11

For the running of the electricity system, it shall adhere to the principle of uniform dispatching, and administration by level and
shall establish the system of uniform and scientific dispatching and coordination.

Article 12

The departments managing the running of power grids and the organs for dispatching the power grids shall strictly implement the Guiding
Principles for the Safety and Stability of the Electricity System, in order to prevent the breakdown of power grid because of deviation
from the normal state; and organize to work out preparatory plans for urgent handling of accidents, fitting in with the reality of
their own grids.

Article 13

The organs for dispatching power grids at all levels are the command centers for handling the accidents of power grids. The dispatchers
on duty shall be the commanders for handling the accidents of power grids.

The dispatching organs shall strengthen coordination between power grids and power plants, establish long effective mechanism for
the safety of electricity system, and strictly implement the procedures for dispatching, so as to make strict enforcement of orders
and prohibitions.

In case accidents that may endanger the safety of electricity system occur or circumstances that may endanger the safety of power
grids are encountered, the dispatching organs shall have the authority to take necessary means and urgent handling measures.

Article 14

Where a power plant is incorporated in a power network, its excitation system and the timing system, which concern the safe and stable
running of the power grids, the relay protection system and the safety automechanism, the communications and automatic equipment
for dispatching electricity, etc., shall meet the requirements of the power grids where the power plant is located.

Article 15

The electricity consumers shall meet the requirements for the safety of power grid, and observe the provisions on safety use of electricity
during the process of using electricity.

Article 16

The electricity enterprises shall strengthen protection on electric facilities, strictly forbid the construction in violation of regulations
or the stealing of electric facilities and other conditions that may seriously endanger the safety of electricity.

Chapter V Reporting of the Information on Work Safety of Electricity

Article 17

All the power grid management enterprises, power supply and generation enterprises shall report the information on the work safety
of electricity in light of the provisions on reporting the information on work safety of electricity as prescribed by the SERC.

Article 18

When there are occurrence of the major or great personal injury or death accidents, power grid accidents, accidents of facilities
damage, and accidents of power plant breakdown, and fire accidents, it shall report to the SERC immediately. The time for reporting
such accidents shall not exceed 24 hours. And a copy of such report shall be send to the State Administration of Work Safety and
the relevant departments of the local governments.

Article 19

The information on the work safety of electricity shall be reported and sent in good time and accurately, no one may disguise the
report, give false information, or delay reporting or refuse to report.

Chapter VI Investigation and Handling of Accidents

Article 20

When an accident occurs in an electricity enterprise, the relevant personnel on the spot of the accident shall at once report to the
responsible person of the entity, who shall, after receiving the accident report, take effective measures at once, and organize the
salvage, reduce the casualty of personnel and property loss, and report to the relevant entities according to the provisions.

Article 21

The authorities for accident investigation and handling:

In regard to a major or great accident in which over 3 people died, and the direct loss is over 5 million Yuan, and for a power cut
accident in a wide range of power grids, the SERC shall be responsible for investigation and handling. In regard to a great accident
in which over 30 people died or the direct loss thereof is over 20 million Yuan, the State Administration of Work Safety shall be
responsible for the investigation and handling in accordance with the requirements of the State Administration of Work Safety.

The present provisions may also be followed for the accident for which the SERC thinks there is necessity to make investigation.

Article 22

As to accident investigation, it shall follow the principles of being practical and realistic and scientific, so as to find out the
reason, kind and liability of the accident in good time and accurately, summarize the lesson from the accident, and put forward measures
for rectification, and opinions for punishing the liable person of the accident.

Article 23

The accident investigation entities shall have the authority to take the following measures in accident investigation:

Investigating the spot of the accident and obtaining evidence, asking the entity where the accident occurs and the relevant personnel
thereof to well protect the spot of the accident, and provide the original records, data and other relevant documents related to
the accident.

Asking the entity where the accident occurs and the relevant personnel thereof to make explanation and statement on issues related
to the accident within a prescribed time limit. And

Other measures as believed necessary.

Article 24

After the occurrence of an accident, which is confirmed through investigation as the liability accident, the SERC shall prosecute
for the liabilities of the liable entity or person according to the provisions of the relevant laws and regulations.

Chapter VII Supplementary Provisions

Article 25

The power grid management enterprises, power supply and generation enterprises may formulate implementation measures in light of the
present Measures.

Article 26

The present Measures shall enter into force as of the date of the promulgation.

State Electricity Regulatory Commission
2004-03-09

MEASURES FOR ACCREDITATION OF QUALIFICATIONS OF THE ENTERPRISES UNDERTAKING FOREIGN AID MATERIAL PROJECTS (FOR TRIAL IMPLEMENTATION)

2004051520040701the Ministry of CommerceOrder of the Ministry of Commerce of the People’s Republic of ChinaNo.10The Measures for Accreditation of Qualifications of the Enterprises Undertaking Foreign Aid Material Projects (For Trial Implementation),
which were adopted upon deliberation at the 4th executive meeting of the Ministry of Commerce of the People’s Republic of China on
March 12, 2004, are hereby promulgated and shall go into effect as of July 1, 2004.Minister of the Ministry of Commerce Bo XilaiMay 15, 2004epdf/e04508.pdfA5Foreign aid, material project, accreditation of qualificationse04508Measures for Accreditation of Qualifications of the Enterprises Undertaking Foreign Aid Material Projects (For Trial Implementation)The present Measures are hereby formulated in order to regulate the administration on qualifications of the enterprises undertaking
the foreign aid material projects (hereinafter referred to the “FAMP”).I.General Provisions1.The present Measures shall apply to the accreditation of the qualifications of the enterprises undertaking the FAMP (hereinafter referred
to as the “FAMP enterprises”).2.The “FAMP” as mentioned in the present Measures refers to the material project (including general material project and single equipment
project) which are undertaken with the aid given gratis, gift loan, or low interests loan provided by the Chinese government to foreign
countries or under other special items of aid funds.3.Application for qualifications of an FAMP enterprise shall be in accordance with the qualification requirements and procedures as
prescribed by the present Measures, and an enterprise may not undertake the FAMP until it is qualified upon the examination and has
obtained the qualifications of an FAMP enterprise of the corresponding grade.II.Grade of Qualifications1.According to the present Measures, the qualifications of the FAMP enterprises are classified into Grade A, Grade B and Grade C.2.The Grade A FAMP enterprises may undertake all the FAMP. The Grade B FAMP enterprises may only undertake the FAMP with the total value
of no more than RMB 10 million Yuan. And the Grade C FAMP enterprises may only undertake the FAMP with the total value of no more
than RMB 3 million Yuan.3.The Grade A, Grade B or Grade C FAMP enterprises shall be degraded or upgraded according to the requirements and procedures as prescribed
in the present Measures.III.Qualification Requirements1.The Grade A FAMP enterprises shall be Chinese enterprises as legal person satisfying all of the following qualification requirements:(1)All the contributors shall be Chinese investors;(2)Having been put on records and registered as a business operator of foreign trade under the provisions of the Foreign Trade Law;(3)The registered capital shall be not less than RMB 50 million Yuan;(4)Operating without any loss for last two years prior to application (examination and verification);(5)The total volume of import and export completed in cargo trade shall be no less than 100 million dollars on average in the last two
years prior to application (examination and verification); and(6)Having no records of being imposed upon criminal punishments or administrative sanctions due to undertaking of illegal business activities
or serious violation of the relevant provisions of the State on the administration of foreign aid within the 2 years prior to application
(examination and verification).2.The Grade B FAMP enterprises shall be Chinese enterprises as legal person satisfying all of the following qualification requirements:(1)All the contributors shall be Chinese investors;(2)Having been put on records and registered as a business operator of foreign trade under the provisions of the Foreign Trade Law;(3)The registered capital shall be no less than RMB 10 million Yuan;(4)Operating without any loss for the last two years prior to application (examination and verification);(5)The total volume of import and export completed in cargo trade shall be no less than 50 million dollars on average in last two years
prior to application (examination and verification); or having undertaken the FAMP in last two years prior to application (examination
and verification) and the accumulative contracted value of projects implemented shall be no less than RMB 20 million Yuan; and(6)Having no records of being imposed upon criminal punishments or administrative sanctions due to undertaking of illegal business activities
or serious violation of the relevant provisions of the State on the administration of foreign aid within 2 years prior to application
(examination and verification).3.The Grade C FAMP enterprises shall be Chinese enterprises as legal person satisfying all of the following qualification requirements:(1)All the contributors shall be Chinese investors;(2)Having been put on records and registered as a business operator of foreign trade under the provisions of the Foreign Trade Law;(3)Operating without any loss for last two years prior to application (examination and verification);(4)Having undertaken the FAMP in last two years prior to application (examination and verification) and the accumulative contracted value
of projects implemented shall be no less than RMB 10 million Yuan; and(5)Having no records of being imposed upon criminal punishments or administrative sanctions due to undertaking of illegal business activities
or serious violation of the relevant provisions of the State on the administration of foreign aid within 2 years prior to application
(examination and verification).IV.Procedures for Qualification Application and Accreditation1.Enterprises under the Central Government shall apply to the Ministry of Commerce for the qualifications of an FAMP enterprise.Other enterprises shall apply to the competent commerce departments of the provinces, autonomous regions and municipalities directly
under the Central Government (hereinafter referred to as the “provincial competent commerce departments”) of the registration place.
And the provincial competent commerce departments shall complete the preliminary examination and verification within 20 working days
as of the date of receipt of the application. If the application passes the preliminary examination and verification, they shall
submit to the Ministry of Commerce the opinions of the preliminary examination and verification together with the application documents
of the enterprise for approval.2.An enterprise shall provide the following application documents when applying for qualifications of an FAMP enterprise:(1)Letter of application;(2)Photocopy of business license of the legal entity;(3)Capital verification report;(4)Documents of identity certificates of contributors (if the contributors are natural persons, their identity certificates and the photocopies
thereof shall be provided. If the contributors are non-natural persons, their registration certificates and the photocopies thereof,
identity certificates of their legal representatives and the photocopies thereof shall be provided);(5)Documents certifying it has been put on records and registered as a business operator of foreign trade;(6)Financial statements of the enterprise in the last two years which have been audited by an accounting institution or auditing institution;(7)Statement of the enterprise on the fact that it has no records of being imposed upon criminal punishments or administrative sanctions
due to undertaking of illegal business activities or serious violation of the relevant provisions of the State on the administration
of foreign aid; and(8)Other documents required by the Ministry of Commerce if necessary.3.The Ministry of Commerce shall complete the examination and verification within 20 working days from the date of accepting the application
of the under the Central government or receiving the preliminary examination and verification documents from the provincial competent
commerce departments, and announce the conclusions within 10 working days after completing the examination and verification.V.Administration on Qualifications1.In case an enterprise qualified for an FAMP enterprise, meet with any of the following changes, it shall file them with the Ministry
of Commerce for record within one month from the date of change:(1)Change of the name of the enterprise;(2)Change of the domicile of the enterprise;(3)Change of the legal representative of the enterprise; or(4)Change of contributors.An enterprise that is not under the Central Government shall send a copy of the said documents to the provincial competent commerce
department of its registration place at the same time.2.The Ministry of Commerce shall implement dynamic qualification management on the enterprises that have obtained the qualifications
of an FAMP enterprise, examine and verify their qualifications once every 2 years since the year of trial implementation of the present
Measures, and issue a notice in this regard prior to each examination and verification. Those enterprises that have obtained the
qualifications of an FAMP enterprise in the year of qualification examination and verification may not take part in the qualification
examination and verification for the same year.3.An enterprise taking part in the qualification examination and verification shall submit the following documents to the Ministry of
Commerce before the deadlines as prescribed in the notice of qualification examination and verification:(1)Letter of application for the qualification verification and examination;(2)Photocopy of business license of the legal entity;(3)Capital verification report;(4)Documents of identity certificates of contributors (if the contributors are natural persons, their identity certificates and the photocopies
thereof shall be provided. If the contributors are non-natural persons, their registration certificates and the photocopies thereof,
identity certificate of their legal representatives and the photocopies thereof shall be provided);(5)Documents certifying it has been put on records and registered as a business operator of foreign trade;(6)Financial statements of the enterprise in the last two years which have been audited by an accounting institution or auditing institution;(7)Statement of the enterprise on the fact that it has no records of being imposed upon criminal punishments or administrative sanctions
due to undertaking of illegal business activities or serious violation of the relevant provisions of the State on the administration
of foreign aid with 2 years prior to examination and verification; and(8)Other documents required by the Ministry of Commerce if necessary.4.An enterprise applying for being upgraded shall, in addition to submitting the said documents for the purpose of examination and verification,
apply officially for being upgraded in the letter of application for qualification examination and verification, and shall be upgraded
if it conforms to the qualification requirements for upgrading upon examination and verification.5.If, upon examination and verification, an enterprise fails to satisfy the qualification requirements of FAMP enterprise of an upper
grade but meets those of a lower grade, the enterprise shall be automatically downgraded to the corresponding grade. If, upon examination
and verification, an enterprise fails to satisfy the qualification requirements for any grade of the FAMP enterprise, shall be automatically
disqualified for being an FAMP enterprise.6.If an FAMP enterprise fails to submit the documents for examination and verification before the deadline as prescribed in the notice
of qualification examination and verification, it shall be automatically disqualified for being an FAMP enterprise.7.An enterprise that is automatically disqualified for being an FAMP enterprise may not reapply for such qualifications within one year
from the deadline for submitting the documents for examination and verification as prescribed in the notice of qualification examination
and verification.8.The Ministry of Commerce shall complete the examination and verification within 20 working days after expiration of the deadline for
submitting the documents for examination and verification as prescribed in the notice of qualification examination and verification,
and announce the conclusions within 10 working days after completing the examination and verification.9.Where an enterprise obtains the qualification of an FAMP enterprise by such improper means as cheating or bribery, the Ministry of
Commerce shall have the power to revoke its qualifications.VI.Supplementary Provisions1.The “Chinese investors” as mentioned in the present Measures may not include the foreign-funded enterprises.2.The present Measures shall go into effect as of July 1, 2004.3.The power to interpret the present Measures shall reside in the Ministry of Commerce.

the Ministry of Commerce
2004-05-15

THE CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON EXEMPTION FROM BUSINESS TAX ON INSURANCE PROCEEDS OF HUATAI INSURANCE COMPANY OF CHINA, LTD.

The State Administration of Taxation

The Circular of the State Administration of Taxation on Exemption from Business Tax on Insurance Proceeds of Huatai Insurance Company
of China, Ltd.

Guo Shui Han [2004] No. 1165

The local taxation bureaus of all provinces, autonomous regions and cities specifically designated in the state plan:

Pursuant to relevant provisions of the Circular on Exemption from Business Tax on Certain Items (Cai Shui [1994] No.002) and the Circular
on Certain Issues of the Exemption from Business Tax on Life Insurance Business (Cai Shui [2001] No.118) of the Ministry of Finance
and the State Administration of Taxation, it is decided after deliberation to exempt from business tax on the insurance proceeds
gained from the “Huatai An Yi Financial Personal Vehicle Accident Insurance”, which is operated by Huatai Insurance Company of China,
Ltd. and satisfies the exemption terms and conditions.

The State Administration of Taxation

October 18th, 2004

The State Administration of Taxation
2004-10-18

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Uncategorized

TEMPORARY PROVISIONS ON PROMOTING INDUSTRIAL STRUCTURE ADJUSTMENT

ANNOUNCEMENT NO. 60 IN 2005 OF THE STATE ENVIRONMENTAL PROTECTION ADMINISTRATION ON ANNOUNCEMENT ON THE PROHIBITION OF PRODUCTION AND...

CIRCULAR OF THE MINISTRY OF CONSTRUCTION ON PRINTING AND DISTRIBUTING THE INTERIM PROVISIONS OF CONSTRUCTION PROJECT DESIGN OF FOREIGN ENTERPRISES WITHIN THE TERRITORY OF THE PEOPLE’S REPUBLIC OF CHINA

NOTICE OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON ISSUES CONCERNING THE MANAGEMENT OF INTERNAL OPERATION OF FOREIGN EXCHANGE FUNDS OF TRANSNATIONAL COMPANIES

MEASURES GOVERNING THE QUALIFICATION FOR SECURITIES INVESTMENT FUND CUSTODIAN

MEASURES FOR THE ADMINISTRATION OF IMPORT AND EXPORT COAL INSPECTIONS

ANIMAL HUSBANDRY LAW

CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON CORRECTING THE RELEVANT CLAUSES IN THE CHINESE VERSION OF THE TAX AGREEMENT BETWEEN THE PEOPLE’S REPUBLIC OF CHINA AND THE GOVERNMENT OF GEORGIA

ANNOUNCEMENT NO.34, 2007 OF MINISTRY OF COMMERCE, PROMULGATING ANNOUNCEMENT ON QUALIFICATION EXAMINATION AND APPROVAL OF THE SECOND PUBLIC BIDDING OF LIGHT AND HEAVY BURNED MAGNESIUM, FLUORITE, TALC, BAUXITE, CARBORUNDUM, LIQUORICE AND LIQUORICE PRODUCTS IN 2007

MEASURES FOR REGULATING THE WORK SAFETY OF ELECTRICITY

MEASURES FOR ACCREDITATION OF QUALIFICATIONS OF THE ENTERPRISES UNDERTAKING FOREIGN AID MATERIAL PROJECTS (FOR TRIAL IMPLEMENTATION)

THE CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON EXEMPTION FROM BUSINESS TAX ON INSURANCE PROCEEDS OF HUATAI INSURANCE COMPANY OF CHINA, LTD.

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