1. Amend Article 7 of Order No. 22 to read: “Foreign investors must legally invest in freely convertible currencies or RMB profits obtained in China or RMB obtained from share transfers, liquidations and other activities. The income shall be used as its contribution to the registered capital of the investment company. Chinese investors may contribute capital in RMB. If foreign investors use their legitimate income in RMB as their investment in the registered capital of the investment company, they shall submit domestic RMB profits or other contributions issued by the foreign exchange management department. The capital project foreign exchange business approval documents and tax certificates for the reinvestment of legal RMB gains should be made within two years from the date of issuance of the business license. The investment should be no less than 30 million US dollars, and the remaining investment in the registered capital should be made after the business license is issued. It must be paid within five years from the date of payment.” 2. Investment companies are allowed to undertake service outsourcing services from overseas companies. 3. Amend Article 11 of Order No. 22 to read:

“Investment companies engaged in the import and export of goods or technology import and export shall comply with the provisions of the Ministry of Commerce’s "Regulations on the Registration of Foreign Trade Operators"; investment Export tax rebates for products exported by sexual companies can be processed in accordance with relevant regulations;

Investment companies can sell their imported and domestically purchased goods domestically through commission agencies (except auctions) and wholesale; special goods and retail and franchise sales, should comply with relevant regulations. "Four. Investment companies are allowed to make strategic investments in listed companies in accordance with relevant national regulations, and investment companies should be regarded as overseas shareholders of joint stock companies. 5. Investment companies that meet the relevant conditions in Article 15 of Order No. 22 can import relevant products for trial sales in the country before the enterprises they invest in are put into production or before the new products of the companies they invest in are put into production. In order to develop the product market, they can also entrust Other domestic enterprises produce/process their products or the products of their parent companies and sell them domestically and abroad. 6. Delete Article 16 of Order No. 22. 7. Foreign investors contribute (or increase capital) to the registered capital of an investment company with their RMB profits obtained in China or their legitimate RMB income obtained from share transfers, liquidations and other activities. The investment company may invest all of this part of the registered capital. Or part of it is used for domestic investment and establishment of enterprises. An enterprise established by an investment company with the above-mentioned registered capital shall be subject to the approval documents of the foreign-invested enterprise approval authority and the foreign exchange management department's approval of the foreign investor's capital contribution (or capital increase) to the investment company with RMB profits or other legal income in RMB. The foreign exchange business calibration of the capital project If you provide documents such as a written explanation of the source of the above-mentioned registered capital for the RMB investment of the invested enterprise issued by the investment company, you can apply to the local foreign exchange management department for the procedures related to foreign exchange registration and capital verification of foreign-invested enterprises, and there is no need to go through the investment again. Calibration document for the company’s capital account foreign exchange business for domestic investment in RMB.

Sino-foreign joint venture investment companies establish enterprises in the country with registered capital derived from RMB contributions from their Chinese investors. They do not need to go through the foreign exchange registration of foreign-invested enterprises, the foreign exchange registration of foreign investors receiving foreign exchange through share conversion, capital verification and verification. Foreign exchange registration and other foreign exchange management related procedures can be handled normally according to the relevant regulations for ordinary domestic enterprises. 8. Modify the first subparagraph of Article 22(2) of Order No. 22 to read: “Businesses specified in Articles 10, 11 and 15 of these Regulations”. 9. With the approval of the Ministry of Commerce, investment companies identified as regional headquarters are allowed to engage in operating leasing and financial leasing business. 10. Investment companies recognized as regional headquarters are allowed to entrust other domestic enterprises to produce/process products and sell them domestically and abroad, and engage in entrusted processing trade business in which all products are exported. 11. Investment companies that function as financial centers or fund management centers and are recognized as regional headquarters may, with the approval of the foreign exchange administration authorities, centrally manage the foreign exchange funds of domestic affiliated companies, and may also open offshore accounts in domestic banks. Centrally manage the foreign exchange funds of overseas affiliated companies and the foreign exchange funds of domestic affiliated companies that have been approved by the foreign exchange management authority for overseas lending. Fund transactions between offshore accounts and other domestic accounts are managed in accordance with cross-border fund transactions. 12. Investment companies should report the investment, operations, etc. of the previous year to the Ministry of Commerce in accordance with the prescribed content, format and method on June 1 of each year, and should submit relevant information in a timely manner in accordance with the requirements of the Ministry of Commerce. The Ministry of Commerce shall be obliged to keep confidential the information reported by investment companies. 13. If an investment company fails to submit relevant information as required in Article 12, the Ministry of Commerce will handle it in accordance with relevant regulations. 14. These regulations shall come into effect on July 1, 2006. In the event of any inconsistency between Order No. 22 and these regulations, these regulations shall prevail.