Laws of the People's Republic of China

The Ministry of Finance

Decree of the Ministry of Finance of the People's Republic of China

No.11

Decision of the Ministry of Finance on Annulment of Some Regulations and Regulatory Documents has been passed based on consensus reached at the meeting of ministry affairs and the consent of other related authorities. It is hereby notified.

Minister of the Ministry of Finance Xiang Huaicheng

December 21, 2001

Decision of the Ministry of Finance on Annulment of Some Regulations and Regulatory Documents

To cope with the new situation ushered in by China's Accession to the WTO and implement the overall planning of the State Council, the Ministry of Finance conducted a comprehensive review of its regulations and regulatory documents and decree that:

1.

The following two documents are nullified as of December 11, 2001:

a.

Circular for Printing and Issuing the Interim Provisions on the Employment of Tariff Measures to Promote the Nationalization of Light Passenger Vehicles (collectively promulgated by the Commission of Tax Regulations of the State Council, the State Development Planning Commission, the Ministry of Machine-Building Industry and the General Administration of Customs, ShuiWeiHui [1997] No.19)

b.

Circular for Implementing the Preferential Taxation Measures for the Nationalization of Camcorders (ShuiWeiHui [1994] No.7)

2.

The following document whose application term has expired is announced invalid:

Circular on Issues Concerning the Taxation Policy for Enterprises with Foreign Investment Approved and Established Before December 31, 1993 (collectively promulgated by the Ministry of Finance, the Ministry of Foreign Trade and Economic Cooperation, the State Administration of Taxation, CaiShuiZi [1998] No.184)

3.

The following four documents whose application has been terminated by related documents are hereby notified:

a.

Circular on Issues Concerning the Practice of "Collect First and Refund Later" for the Value-added Tax on Commercial Enterprises in Wholesaling Meat, Poultry, Eggs, Aquatic Products and Fresh Vegetables (collectively promulgated by the Ministry of Finance and the State Administration of Taxation, CaiShuiZi [94] No.71);

b.

Circular on Issues Concerning the Continuance of the Practice of "Collect First and Refund Later" for the Value-added Tax on Commercial Enterprises in Wholesaling Meat, Poultry, Eggs, Aquatic Products and Fresh Vegetables (collectively promulgated by the Ministry of Finance and the State Administration of Taxation, CaiShuiZi [1998] No. 31);

c.

Interim Measures for the Refund of Value-added Tax on Imported Equipment That Cannot Be Made Domestically for Technical Renovation Projects of State-owned Enterprises of Large and Medium Size During the ˇ°Ninth Five Yearˇ± Period (collectively promulgated by the Ministry of Finance, the State Economic and Trade Commission, the State Administration of Taxation and the General Administration of Customs, CaiShuiZi [1997] No. 35);

d.

Measures of the Central Government on the Financial Refund of Income Tax on Foreign Trading Enterprises (CaiWaiZi [2000] No.16 of the Ministry of Finance)

The catalog of documents to be reviewed will be announced later.