V.               The State Administration for Industry and Commerce (the “SAIC”) will Relax and Adjust the Regulations Concerning the Registration, Business Scope and Other Matters of Private Industrial and Commercial Households in Mainland of Hong Kong, Macau and Taiwan Residents

The SAIC has issued the Notice on Provisions Concerning Further Relax the Business Scope, Employees and Business Square of Hong Kong, Macau and Taiwan Residents’ Individual Industrial and Commercial Household ( the “Notice”) and the Opinions on the Administration of Taiwan Resident’s Application for Individual Industrial and Commercial Household in Part of Provinces in Mainland ( the “Opinions”), which relax and adjust the regulations concerning the registration, business scope and other matters of individual industrial and commercial household of Hong Kong, Macau and Taiwan Resident. In accordance with the new policy, from 1^st January, 2012, the Taiwan residents can apply for registration of individual industrial and commercial households in Beijing, Shanghai, Jiangsu, Zhejiang, Hubei, Guangdong, Chongqing and Sichuan, and the local administration for industry and commerce in counties, autonomous counties, cities not divided into districts and municipal cities will, without examination and approval by authorization, directly register such applications. In addition, from 1^st April, 2012, the business scope that Hong Kong, Macau and Taiwan residents’ individual industrial and commercial household can apply will be enlarged, and the employees and business square will be relaxed.