1. A cooperative shall set up a liquidation group to handle liquidation affairs. The members of the liquidation group shall be elected by the cooperative shareholders' (members) meeting or other legal procedures. The information of members of the liquidation group shall be published in newspapers or in the publicity system for a period of 45 days.

2. Before the cancellation of the cooperative, it shall go through the tax liquidation procedures with the tax authorities. This includes reimbursement of the tax control panel, reimbursement of unused invoices and other tax matters.

3. The liquidation group shall submit an application for cancellation of registration to the registration authority. The application materials include the application for cancellation of registration, the resolution of the general meeting of the cooperative shareholders (members), the liquidation report and the tax payment certificate provided by the tax authorities and other related documents.