I. The State Council Issues the Sixth Batch of Items Requiring Administrative Approval to be Abolished and Adjusted.

On October 10, 2012, the State Council issued the Decision on the Sixth Batch of Items Requiring Administrative Approval to be Abolished and Adjusted (hereinafter referred to as the “Decision”), accordingly, 171 items are cancelled and 143 items are adjusted.

It shall be noted that the items abolished according to the Decision include the requirement of pre-approval for commercial service providers of Internet information to be listed in the domestic market, approval for contracted operation or entrusted operation of Sino-foreign contractual joint venture enterprises by foreign enterprises (including Hong Kong, Macau and Taiwan), approval for the establishment of certification consulting institutions and a series of items previously being regulated by the China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC), China Insurance Regulatory Commission (CIRC) and State administrative for Foreign Exchange.