Laws of the People's Republic of China

Circular of the China Securities Regulatory Commission on Time Interval of Restarting Share-trading Reform on the Failing of Scheme for Share-trading Reform by Meeting of Relevant Shareholders

Zheng Jian Fa [2006] No. 112

All the listed companies and the shareholders thereof and all the recommending institutions:

For the purpose of promoting the share-trading reform of listed companies, letting listed companies as many as possible accomplish the share-trading reform in time, in accordance with the Measures for the Administration of the Share-trading Reform of Listed Companies ( Zheng Jian Fa [2005] No. 86), we hereby notify the issues concerning the time interval of restarting share-trading reform on the failing of scheme for share-trading reform by meeting of relevant shareholders;

1.

If the scheme for share-trading reform is failed by the meeting of relevant shareholders, one month after the meeting of relevant shareholders, the holders of non-tradable shares may again entrust the board of directors of the company to call in the relevant shareholders for a meeting on the share-trading reform, in accordance with the regulations of Article 5 in the Measures for the Administration of the Share-trading Reform of Listed Companies.

2.

This circular shall enter into effect as of the date of promulgation.

The China Securities Regulatory Commission

September 26, 2006