Laws of the People's Republic of China

Announcement No.83, 2006 of the Ministry of Commerce of the People's Republic of China

[2006] No.83

According to the requirement of the Announcement 69, 2006 of National Development and Reform Commission, Ministry of Commerce and Ministry of Finance, part of national reserved sugar will be launched by means of Competitive Bidding. The details are now notified as follows:

1.

The Organization and Management of Competitive Bidding

(1)

Ministry of Commerce shall be in charge of the management of Competitive Bidding

(2)

China Merchandise Reserve Management Center shall be in charge of the specific implementation of Competitive Bidding.

(3)

Competitive Bidding shall be publicly conducted by electronic network system of China Merchandise Reserve Management Center

2.

Amount, Time and Location of Competitive Bidding

(1)

Total amount is 80,000 tons. Competitive Bidding shall be conducted at the time from 9am-17pm on October 13, 2006.

The specific situations shall be notified later.

(2)

Location: Sugar Exchange of China Merchandise Reserve Management Center, Beijing

3.

Bottom price of Competitive Bidding

Bottom Price is 3400 yuan per ton.

4.

Processing Requirements:

All the raw sugar in the competitive bidding shall be processed into national-standard product sugar before November 15, 2006.

5.

Exchange Mode of Competitive Bidding

(1)

The exchange shall be conducted in accordance with exchange regulations for Competitive Bidding of National Reserve of Sugar. Each share of Competitive Bidding of raw sugar is 5000 tones. If the overplus in stock is less than 10,000 tons, it shall be considered as one share.

(2)

Member of the Competitive Bidding shall have the identity confirmed. Members shall sign up before 12: 00 October 12, 2006 so as to participate in the Competitive Bidding.

For more related information, please check www.scyxs.mofcom.gov.cn.

Ministry of Commerce

October 11, 2006