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State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares
(Promulgated by Decree No.189 of the State Council on December 25, 1995)

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Article 25

Article 26

Article 27

Article 28

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China - State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares, 1995

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State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares
(Promulgated by Decree No.189 of the State Council on December 25, 1995)

Article 2

Subject to approval of the Securities Committee of the State Council, a company limited by shares (hereinafter referred to as a Company) may issue domestically-listed shares to be held overseas; however, when the total face value of the issuance of such a nature exceeds US$30 million, the Securities Committee shall report to the State Council for approval.

Domestically-listed shares held overseas as indicated in the preceding paragraph, refer to issuance of domestically-listed shares when a Company is established by means of share placement, or when a Company increases its capital.

The total value of the issuance of domestically-listed shares held overseas, to be approved by the Securities Committee of the State Council, shall be within the scale defined by the State.


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