Minutes shall be kept of the decisions made on the matters under consideration at a meeting of the supervisory board and shall be signed by the supervisors who attended the meeting 监事会应当对所议事项的决定作成会议记录·出席会议的监事应当在会议记录上签名。 Article 57:The expenses required by the supervisory board or,in the case of a company that has not established a supervisory board,the supervisor(s)in the exercise of its/his/her/their functions and powers shall be borne by the company. 第五十七条监事会、不设监事会的公司的监事行使职权所必需的费用，由公司承担。 Section Three:Special Provisions Governing One Person Limited Liability Companies 第三节一人有限责任公司的特别规定 Article 58:The provisions of this Section shall apply to the establishment and organizational structure of one person limited liability companies.For any matters not covered in this Section, the provisions of Sections One and Two of this Part shall apply 第五十八条一人有限责任公司的设立和组织机构，适用本节规定；本节没有规定的，适 用本章第一节、第二节的规定。 For the purposes of this Law,the term"one person limited liability company"means a limited liability company with only one natural person shareholder or one legal person shareholder. 本法所称一人有限责任公司，是指只有一个自然人股东或者一个法人股东的有限责任公司· Article 59:The minimum registered capital of a one person limited liability company shall be Rmb100,000.The shareholder shall make his or her capital contribution specified in the company's articles of association in full in one lump sum 第五十九条一人有限责任公司的注册资本最低限额为人民币十万元。股东应当一次足额 缴纳公司章程规定的出资额。 A natural person may invest in and establish only oneone person limited liability company.Such one person limited liability company may not invest in and establish a new one person limited liability company. 一个自然人只能投资设立一个一人有限责任公司。该一人有限责任公司不能投资设立新的 一人有限责任公司。 26
26 Minutes shall be kept of the decisions made on the matters under consideration at a meeting of the supervisory board and shall be signed by the supervisors who attended the meeting. 监事会应当对所议事项的决定作成会议记录，出席会议的监事应当在会议记录上签名。 Article 57: The expenses required by the supervisory board or, in the case of a company that has not established a supervisory board, the supervisor(s) in the exercise of its/his/her/their functions and powers shall be borne by the company. 第五十七条 监事会、不设监事会的公司的监事行使职权所必需的费用，由公司承担。 Section Three: Special Provisions Governing One Person Limited Liability Companies 第三节 一人有限责任公司的特别规定 Article 58: The provisions of this Section shall apply to the establishment and organizational structure of one person limited liability companies. For any matters not covered in this Section, the provisions of Sections One and Two of this Part shall apply. 第五十八条 一人有限责任公司的设立和组织机构，适用本节规定；本节没有规定的，适 用本章第一节、第二节的规定。 For the purposes of this Law, the term “one person limited liability company” means a limited liability company with only one natural person shareholder or one legal person shareholder. 本法所称一人有限责任公司，是指只有一个自然人股东或者一个法人股东的有限责任公司。 Article 59: The minimum registered capital of a one person limited liability company shall be Rmb100,000. The shareholder shall make his or her capital contribution specified in the company‟s articles of association in full in one lump sum. 第五十九条 一人有限责任公司的注册资本最低限额为人民币十万元。股东应当一次足额 缴纳公司章程规定的出资额。 A natural person may invest in and establish only one one person limited liability company. Such one person limited liability company may not invest in and establish a new one person limited liability company. 一个自然人只能投资设立一个一人有限责任公司。该一人有限责任公司不能投资设立新的 一人有限责任公司
Article 60:The registration of a one person limited liability company shall specify that the company is wholly-owned by a natural person or a legal person,and the same shall be specified on the company's business licence. 第六十条 一人有限责任公司应当在公司登记中注明自然人独资或者法人独资·并在公司 营业执照中载明。 Article 61:The articles of association of a one person limited liability company shall be formulated by the shareholder. 第六十一条一人有限责任公司章程由股东制定。 Article 62:A one person limited liability company shall not have a shareholders'meeting.When the shareholder makes a decision on any of the matters specified in the first paragraph of Article 38 hereof,he or she shall do so in writing,and after signing the same he or she shall deposit it with the company. 第六十二条 ,一人有限责任公司不设股东会·股东作出本法第三十八条第一款所列决定时， 应当采用书面形式，并由股东签名后置备于公司· Article 63:A one person limited liability company shall prepare a financial accounting report at the end of each accounting year that shall be audited by an accounting firm. 第六十三条一人有限责任公司应当在每一会计年度终了时编制财务会计报告'并经会计 师事务所审计。 Article 64:If the shareholder of a one person limited liability company is unable to prove that the company's property is independent from his or her own personal property,he or she shall bear joint and several liability for the company's debts 第六十四条一人有限责任公司的股东不能证明公司财产独立于股东自己的财产的·应当 对公司债务承担连带责任。 Section Four:Special Provisions Governing Wholly State-owned Companies 第四节国有独资公司的特别规定 Article 65:The provisions of this Section shall apply to the establishment and organizational structure of wholly state-owned companies.For any matters not covered in this Section,the provisions of Sections One and Two of this Part shall apply. 第六十五条国有独资公司的设立和组织机构，适用本节规定；本节没有规定的，适用本 章第一节、第二节的规定。 27
27 Article 60: The registration of a one person limited liability company shall specify that the company is wholly-owned by a natural person or a legal person, and the same shall be specified on the company‟s business licence. 第六十条 一人有限责任公司应当在公司登记中注明自然人独资或者法人独资，并在公司 营业执照中载明。 Article 61: The articles of association of a one person limited liability company shall be formulated by the shareholder. 第六十一条 一人有限责任公司章程由股东制定。 Article 62: A one person limited liability company shall not have a shareholders‟ meeting. When the shareholder makes a decision on any of the matters specified in the first paragraph of Article 38 hereof, he or she shall do so in writing, and after signing the same he or she shall deposit it with the company. 第六十二条 一人有限责任公司不设股东会。股东作出本法第三十八条第一款所列决定时， 应当采用书面形式，并由股东签名后置备于公司。 Article 63: A one person limited liability company shall prepare a financial accounting report at the end of each accounting year that shall be audited by an accounting firm. 第六十三条 一人有限责任公司应当在每一会计年度终了时编制财务会计报告，并经会计 师事务所审计。 Article 64: If the shareholder of a one person limited liability company is unable to prove that the company‟s property is independent from his or her own personal property, he or she shall bear joint and several liability for the company‟s debts. 第六十四条 一人有限责任公司的股东不能证明公司财产独立于股东自己的财产的，应当 对公司债务承担连带责任。 Section Four: Special Provisions Governing Wholly State-owned Companies 第四节 国有独资公司的特别规定 Article 65: The provisions of this Section shall apply to the establishment and organizational structure of wholly state-owned companies. For any matters not covered in this Section, the provisions of Sections One and Two of this Part shall apply. 第六十五条 国有独资公司的设立和组织机构，适用本节规定；本节没有规定的，适用本 章第一节、第二节的规定
For the purposes of this Law,the term"wholly state-owned company"means a limited liability company in which the state is the only investor and the duties as investor of which are performed by the state-owned asset supervision and administration authority of the people's government at the same level as the State Council or the local people's government by whom it was appointed. 本法所称国有独资公司，是指国家单独出资、由国务院或者地方人民政府授权本级人民政 府国有资产监督管理机构履行出资人职责的有限责任公司。 Article 66:The articles of association of wholly state-owned companies shall be formulated by the state-owned asset supervision and administration authority,or formulated by the board of directors and submitted to the state-owned asset supervision and administration authority for approval. 第六十六条国有独资公司章程由国有资产监督管理机构制定，或者由董事会制订报国有 资产监督管理机构批准。 Article 67:A wholly state-owned company shall not have a shareholders'meeting.The state- owned asset supervision and administration authority shall exercise the functions and powers of a shareholders'meeting.The state-owned asset supervision and administration authority may authorize the company's board of directors to exercise part of the functions and powers of a shareholders'meeting and to decide on the major matters of the company.However,the merger, division,dissolution,increase or decrease of registered capital,and the issue of corporate bonds of and by the company must be decided on by the state-owned asset supervision and administration authority.Mergers,division,dissolution and applications for bankruptcy of important wholly state-owned companies shall be examined by the state-owned asset supervision and administration authority and submitted to the people's government of the same level for approval. 第六十七条国有独资公司不设股东会·由国有资产监督管理机构行使股东会职权·国有 资产监督管理机构可以授权公司董事会行使股东会的部分职权，决定公司的重大事项，但 公司的合并、分立、解散、增加或者减少注册资本和发行公司债券，必须由国有资产监督 管理机构决定；其中，重要的国有独资公司合并、分立、解散、申请破产的，应当由国有 资产监督管理机构审核后，报本级人民政府批准。 "Important wholly state-owned companies"referred to in the preceding paragraph shall be determined in accordance with State Council provisions. 前款所称重要的国有独资公司，按照国务院的规定确定· Article 68:A wholly state-owned company shall have a board of directors,which shall exercise its functions and powers in accordance with Articles 47 and 67 hereof.Directors shall serve a term not exceeding three years.The board of directors shall include representatives of the company's staff and workers. 28
28 For the purposes of this Law, the term “wholly state-owned company” means a limited liability company in which the state is the only investor and the duties as investor of which are performed by the state-owned asset supervision and administration authority of the people‟s government at the same level as the State Council or the local people‟s government by whom it was appointed. 本法所称国有独资公司，是指国家单独出资、由国务院或者地方人民政府授权本级人民政 府国有资产监督管理机构履行出资人职责的有限责任公司。 Article 66: The articles of association of wholly state-owned companies shall be formulated by the state-owned asset supervision and administration authority, or formulated by the board of directors and submitted to the state-owned asset supervision and administration authority for approval. 第六十六条 国有独资公司章程由国有资产监督管理机构制定，或者由董事会制订报国有 资产监督管理机构批准。 Article 67: A wholly state-owned company shall not have a shareholders‟ meeting. The stateowned asset supervision and administration authority shall exercise the functions and powers of a shareholders‟ meeting. The state-owned asset supervision and administration authority may authorize the company‟s board of directors to exercise part of the functions and powers of a shareholders‟ meeting and to decide on the major matters of the company. However, the merger, division, dissolution, increase or decrease of registered capital, and the issue of corporate bonds of and by the company must be decided on by the state-owned asset supervision and administration authority. Mergers, division, dissolution and applications for bankruptcy of important wholly state-owned companies shall be examined by the state-owned asset supervision and administration authority and submitted to the people‟s government of the same level for approval. 第六十七条 国有独资公司不设股东会，由国有资产监督管理机构行使股东会职权。国有 资产监督管理机构可以授权公司董事会行使股东会的部分职权，决定公司的重大事项，但 公司的合并、分立、解散、增加或者减少注册资本和发行公司债券，必须由国有资产监督 管理机构决定；其中，重要的国有独资公司合并、分立、解散、申请破产的，应当由国有 资产监督管理机构审核后，报本级人民政府批准。 “Important wholly state-owned companies” referred to in the preceding paragraph shall be determined in accordance with State Council provisions. 前款所称重要的国有独资公司，按照国务院的规定确定。 Article 68: A wholly state-owned company shall have a board of directors, which shall exercise its functions and powers in accordance with Articles 47 and 67 hereof. Directors shall serve a term not exceeding three years. The board of directors shall include representatives of the company‟s staff and workers
第六十八条国有独资公司设董事会，依照本法第四十七条、第六十七条的规定行使职权· 董事每届任期不得超过三年·董事会成员中应当有公司职工代表。 The members of the board of directors shall be appointed by the state-owned asset supervision and administration authority.However,the representatives of the staff and workers on the board of directors shall be elected by the congress of the company's staff and workers 董事会成员由国有资产监督管理机构委派；但是，董事会成员中的职工代表由公司职工代 表大会选举产生。 The board of directors shall have a chairman of the board,and may have vice chairmen of the board.The chairman of the board and the vice chairman(men)of the board shall be designated by the state-owned asset supervision and administration authority from among the members of the board of directors. 董事会设董事长一人，可以设副董事长。董事长、副董事长由国有资产监督管理机构从董 事会成员中指定。 Article 69:A wholly state-owned company shall have a manager,who shall be engaged or dismissed by the board of directors.The manager shall exercise functions and powers in accordance with Article 50 hereof. 第六十九条国有独资公司设经理，由董事会聘任或者解聘。经理依照本法第五十条规定 行使职权。 Subject to approval by the state-owned asset supervision and administration authority,a member of the board of directors may concurrently serve as manager 经国有资产监督管理机构同意，董事会成员可以兼任经理· Article 70:The chairman of the board,vice chairman(men)of the board,directors or senior officers of a wholly state-owned company may not concurrently hold a position in another limited liability company,company limited by shares or economic organization without the approval of the state-owned asset supervision and administration authority. 第七十条国有独资公司的董事长、副董事长、董事、高级管理人员，未经国有资产监督 管理机构同意，不得在其他有限责任公司、股份有限公司或者其他经济组织兼职。 Article 71:The supervisory board of a wholly state-owned company shall have no fewer than five members,among whom not less than one-third shall be representatives of the staff and workers.The specific percentage shall be specified in the company's articles of association. 第七十一条国有独资公司监事会成员不得少于五人’其中职工代表的比例不得低于三分 之一，具体比例由公司章程规定。 29
29 第六十八条 国有独资公司设董事会，依照本法第四十七条、第六十七条的规定行使职权。 董事每届任期不得超过三年。董事会成员中应当有公司职工代表。 The members of the board of directors shall be appointed by the state-owned asset supervision and administration authority. However, the representatives of the staff and workers on the board of directors shall be elected by the congress of the company‟s staff and workers. 董事会成员由国有资产监督管理机构委派；但是，董事会成员中的职工代表由公司职工代 表大会选举产生。 The board of directors shall have a chairman of the board, and may have vice chairmen of the board. The chairman of the board and the vice chairman(men) of the board shall be designated by the state-owned asset supervision and administration authority from among the members of the board of directors. 董事会设董事长一人，可以设副董事长。董事长、副董事长由国有资产监督管理机构从董 事会成员中指定。 Article 69: A wholly state-owned company shall have a manager, who shall be engaged or dismissed by the board of directors. The manager shall exercise functions and powers in accordance with Article 50 hereof. 第六十九条 国有独资公司设经理，由董事会聘任或者解聘。经理依照本法第五十条规定 行使职权。 Subject to approval by the state-owned asset supervision and administration authority, a member of the board of directors may concurrently serve as manager. 经国有资产监督管理机构同意，董事会成员可以兼任经理。 Article 70: The chairman of the board, vice chairman(men) of the board, directors or senior officers of a wholly state-owned company may not concurrently hold a position in another limited liability company, company limited by shares or economic organization without the approval of the state-owned asset supervision and administration authority. 第七十条 国有独资公司的董事长、副董事长、董事、高级管理人员，未经国有资产监督 管理机构同意，不得在其他有限责任公司、股份有限公司或者其他经济组织兼职。 Article 71: The supervisory board of a wholly state-owned company shall have no fewer than five members, among whom not less than one-third shall be representatives of the staff and workers. The specific percentage shall be specified in the company‟s articles of association. 第七十一条 国有独资公司监事会成员不得少于五人，其中职工代表的比例不得低于三分 之一，具体比例由公司章程规定
The members of the supervisory board shall be appointed by the state-owned asset supervision and administration authority.However,the representatives of the staff and workers on the supervisory board shall be elected by the congress of the company's staff and workers.The chairman of the supervisory board shall be designated by the state-owned asset supervision and administration authority from among the members of the supervisory board. 监事会成员由国有资产监督管理机构委派；但是，监事会成员中的职工代表由公司职工代 表大会选举产生。监事会主席由国有资产监督管理机构从监事会成员中指定。 The supervisory board shall exercise the functions and powers specified in Items(1)to(3)of Article 54 hereof and other functions and powers specified by the State Council. 监事会行使本法第五十四条第（一）项至第（三）项规定的职权和国务院规定的其他职权。 PART THREE:TRANSFER OF THE EQUITY OF LIMITED LIABILITY COMPANIES 第三章有限责任公司的股权转让 Article 72:The shareholders of a limited liability company may transfer all or part of the company's equity among themselves. 第七十二条有限责任公司的股东之间可以相互转让其全部或者部分股权。 A shareholder wishing to transfer his or her equity to a party other than another shareholder shall require the consent of a majority of the other shareholders.The shareholder shall notify the other shareholders of the particulars of his or her equity transfer in writing and solicit their consent.If the other shareholders fail to reply within 30 days of the date of receipt of the written notice,they shall be deemed to consent to the transfer.If a majority of the other shareholders does not consent to the transfer,those shareholders who withheld their consent shall purchase the equity to be transferred.If a shareholder fails to make the purchase,he or she shall be deemed to have consented to the transfer. 股东向股东以外的人转让股权，应当经其他股东过半数同意。股东应就其股权转让事项书 面通知其他股东征求同意，其他股东自接到书面通知之日起满三十日未答复的，视为同意 转让。其他股东半数以上不同意转让的，不同意的股东应当购买该转让的股权；不购买的， 视为同意转让。 All things being equal,the other shareholders shall have a pre-emptive right of purchasing the equity whose transfer they have consented to.If two or more shareholders assert their pre- emptive right of purchase,they shall hold consultations to determine the respective percentages that they will purchase.If the consultations are unsuccessful,they shall exercise their right of 30
30 The members of the supervisory board shall be appointed by the state-owned asset supervision and administration authority. However, the representatives of the staff and workers on the supervisory board shall be elected by the congress of the company‟s staff and workers. The chairman of the supervisory board shall be designated by the state-owned asset supervision and administration authority from among the members of the supervisory board. 监事会成员由国有资产监督管理机构委派；但是，监事会成员中的职工代表由公司职工代 表大会选举产生。监事会主席由国有资产监督管理机构从监事会成员中指定。 The supervisory board shall exercise the functions and powers specified in Items (1) to (3) of Article 54 hereof and other functions and powers specified by the State Council. 监事会行使本法第五十四条第(一)项至第(三)项规定的职权和国务院规定的其他职权。 PART THREE: TRANSFER OF THE EQUITY OF LIMITED LIABILITY COMPANIES 第三章 有限责任公司的股权转让 Article 72: The shareholders of a limited liability company may transfer all or part of the company‟s equity among themselves. 第七十二条 有限责任公司的股东之间可以相互转让其全部或者部分股权。 A shareholder wishing to transfer his or her equity to a party other than another shareholder shall require the consent of a majority of the other shareholders. The shareholder shall notify the other shareholders of the particulars of his or her equity transfer in writing and solicit their consent. If the other shareholders fail to reply within 30 days of the date of receipt of the written notice, they shall be deemed to consent to the transfer. If a majority of the other shareholders does not consent to the transfer, those shareholders who withheld their consent shall purchase the equity to be transferred. If a shareholder fails to make the purchase, he or she shall be deemed to have consented to the transfer. 股东向股东以外的人转让股权，应当经其他股东过半数同意。股东应就其股权转让事项书 面通知其他股东征求同意，其他股东自接到书面通知之日起满三十日未答复的，视为同意 转让。其他股东半数以上不同意转让的，不同意的股东应当购买该转让的股权；不购买的， 视为同意转让。 All things being equal, the other shareholders shall have a pre-emptive right of purchasing the equity whose transfer they have consented to. If two or more shareholders assert their preemptive right of purchase, they shall hold consultations to determine the respective percentages that they will purchase. If the consultations are unsuccessful, they shall exercise their right of