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　　Article 15　Subsidized interest for loans：

　　Based on State policy， relevant departments may subsidize interest for loans， in order to promote the economic development of certain industries or regions.

　　A bank that undertakes loans for which relevant departments subsidize interest， shall investigate and grant such loans on their own initiative， and shall strictly administrate such loans in accordance with relevant regulations of these General Provisions.

　　Article 16　Suspension， reduction or deferment of， or exemption from， loan interest：

　　Except where decided by the State Council， no work units or individuals shall have the right to decide on a suspension， reduction or deferment of， or exemption from， interest. Lenders shall specifically handle the suspension， reduction or deferment of， or exemption from， interest based on the decision of the State Council， in accordance with their limits of authority and responsibility.

　　PART FOUR　BORROWERS

　　Article 17　A borrower shall be an enterprise legal person， institution legal person or other economic organization， individual industrialist or merchant approved and registered by the administrative authorities for the administration of industry and commerce （or the authorities-in-charge）， or a natural person with full capacity for civil acts and a PRC national.

　　A borrower applying for a loan shall satisfy such basic conditions as having a market for his or its products， having profitable production or business operations， not wrongfully seizing or misappropriating loan funds， and being scrupulously creditworthy， and shall comply with the following requirements：

　　1. To be able to pay off the principal and interest according to schedule， and to have already paid off the interest on previous loans and due loans； where such payments have not been paid off， to have made a repayment plan approved by the lender；

　　2. To have gone through the annual inspection by the departments for industry and commerce， except in the case of a natural person or an institution legal person that is not required to undergo approval and registration by the departments for industry and commerce；

　　3. To have already opened a basic account or an ordinary savings account；

　　4. That， in the case of a limited liability company or company limited by shares， the cumulative amount of its equity investment in outside shares does not exceed 50 per cent of its total net assets， except where otherwise stipulated by the State Council；

　　5. That the debt-equity ratio of the borrower conforms with the requirements of the lender； and

　　6. Where an application for a medium- or long-term loan is made， the ratio of the ownership interest of the enterprise legal person in a new construction project to the total investment necessary for the project is not less than the capital fund ratio for investment projects stipulated by the State.

　　Article 18　Rights of a borrower：

　　1. A borrower may apply for a loan on his or its own initiative from the management organization of his or its loan organizer or other bank and obtain a loan according to the conditions；

　　2. A borrower shall have the right to draw down and use the entire loan as agreed in the contract；

　　3. A borrower shall have the right to reject attached conditions not included in the loan contract；

　　4. A borrower shall have the right to refer and report relevant details to the lender's superior authorities and to the People's Bank of China； and

　　5. Upon soliciting and obtaining the consent of the lender， a borrower shall have the right to transfer the debt to a third party.

　　Article 19　Obligations of a borrower：

　　1. A borrower shall provide such true information as the lender may require （with the exception of such information that may not be provided by law）， provide to the lender true details of all banks with which he or it has opened accounts， all account numbers and all deposit balances， and co-operate with the lender in investigation， examination and inspection；

　　2. A borrower shall be subject to the lender's supervision of his or its use of credit funds and of the relevant production， operation and financial activities；

　　3. A borrower shall use the loan as agreed upon in the loan contract；

　　4. A borrower shall promptly pay off the principal of the loan together with the interest thereon， as agreed in the loan contract；

　　5. A borrower shall obtain the lender's consent if the borrower wishes to assign all or part of the debt to a third party； and

　　6. A borrower shall notify the lender in a timely manner of any details that may jeopardize the security of the lender's claim， and at the same time shall take measures to preserve the claim.

　　Article 20　Restrictions on a borrower：

　　1. A borrower may not obtain loans from two or more branches of the same lender at the same level and in the same jurisdiction；

　　2. A borrower may not provide false details to， or withhold important details， from the lender concerning balance sheets， profit and loss accounts， etc.；

　　3. Except where otherwise stipulated by the State， a borrower may not use the loan to engage in equity investments；

　　4. A borrower may not use the loan to engage in speculation in areas such as securities or futures；

　　5. A borrower may not use the loan to engage in property business， except where the borrower has lawfully obtained qualifications to engage in property business. Borrowers that have obtained qualifications to engage in property business may not use the loan to engage in property speculation；

　　6. A borrower may not divert loan funds in order to seek illegal profit by on-lending such loan；

　　7. A borrower may not use foreign currency loans in violation of State administration of foreign exchange provisions； and

　　8. A borrower may not use deceptive practices to fraudulently obtain a loan.

　　PART FIVE　LENDERS

　　Article 21　Lenders must be approved by the People's Bank of China to engage in lending business， hold a Financial Institution Legal Person Licence or a Financial Institution Business Licence issued by the People's Bank of China， and be approved and registered by the administrative departments for the administration of industry and commerce.

　　Article 22　Rights of a lender：

　　According to the conditions of the loan and on the basis of taking the initiative to undertake examination and checking of the lending process， and to decide the loan， a lender has the right to refuse the order for a loan or an order to provide a guarantee made by any unit or individual， except where the loan is a specially-designated loan approved by the State Council.

　　1. A lender has the right to require the borrower to provide information relevant to the loan；

　　2. A lender has the right to decide such matters as whether or not to provide a loan， the loan amount， loan term and loan interest， on the basis of the conditions of the borrower；

　　3. A lender has the right to know the production business activities and financial activities of the borrower；

　　4. The lender has the right to collect the principal of and interest on the loan by transferring the same from the borrower's account as agreed in the contract；

　　5. Where the borrower is unable to perform his or its obligations as stipulated in the loan contract， the lender has the right to require the borrower to prepay the loan or to stop paying to the borrower the part of the loan which he or it has not yet used， as agreed in the contract； and

　　6. Where a loan is about to sustain a loss or is already sustaining a loss， the lender may adopt measures to avoid loan losses， based on the provisions in the contract.

　　Article 23　Obligations of a lender

　　1. A lender shall publicly announce information on the types， terms and interest rates of loans that he or it engages in， and provide advice to borrowers；

　　2. A lender shall publicly disclose the particulars of an applicant's creditworthiness to be examined in connection with the granting of a loan， and the conditions for granting a loan；

　　3. A lender shall consider a borrower's application for a loan and respond promptly as to whether or not the loan will be granted. A response shall be given within one month for short-term loans， and within 6 months for medium- and long-term loans， except where otherwise stipulated by the State； and

　　4. A lender shall maintain the confidentiality of details of the debts， finances， production and business of borrowers， except in the cases of inquiries made according to the law.

　　Article 24　Restrictions on a lender：

　　1. When providing loans， relevant provisions of Article 39， regarding the management of debt-equity ratios， and the provisions of Article 40， regarding the prohibition on granting fiduciary loans to connected parties and the prohibition on granting secured loans to connected parties on conditions that are more preferential than those for granting the same type of loan to other borrowers， of the PRC， Commercial Banking Law， must be strictly implemented.

　　2. No loans shall be granted to any borrower that：

　　（1） does not satisfy the qualifications and conditions stipulated in Article 17 of Part 4 of these General Provisions；

　　（2） produces， deals or invests in a product or project that is expressly prohibited by the State；

　　（3） violates State provisions on the administration of foreign exchange；

　　（4） has not obtained approval documents for a construction project that should be reported to relevant departments for approval in accordance with State provisions；

　　（5） has not obtained the permission of an environmental protection department for a production， business or investment project；

　　（6） in the process of a system change， such as implementing contracting， leasing， joint venture， merger （merger by takeover）， co-operation， division， assignment of property rights for compensation， or restructure of a share system enterprise， has not paid off his or its pre-existing loan debts， fulfilled his or its pre-existing loan debts or provided appropriate security； or

　　（7） commits other serious illegal business activities.

　　3. No foreign currency loans may be granted to natural persons without the approval of the People's Bank of China；

　　4. No fees other than interest that is calculated and collected as stipulated by the People's Bank of China， may be collected on loans for one's own account and specially designated loans； no fees other than handling fees that are calculated and collected as stipulated by the People's Bank of China， may be collected on entrusted loans；

　　5. Funds shall not be advanced to the entrusting party， except where otherwise stipulated by the State； and

　　6. The lender shall strictly control fiduciary loans and actively promote secured loans.

　　PART SIX　LENDING PROCEDURES

　　Article 25　Loan applications：

　　A borrower in need of a loan shall apply directly to the management organization of his or its banks or the loan organization of another bank.

　　A borrower shall fill in a “Loan Application” specifying main items such as the loan amount， purpose of the loan， repayment capability and repayment method， and provide the following information：

　　1. Main details of the borrower and the guarantor；

　　2. A financial report for the preceding year and a financial report for the period preceding the loan application， ratified and approved by the financial authorities or an accounting （auditing） firm；

　　3. Details of corrections to the unreasonable use of pre-existing loans；

　　4. A checklist of mortgaged or pledged property， proof of consent to such mortgages or pledges from the persons having the right to dispose of the property， and relevant documentary proof that the guarantor intends to provide a guarantee；

　　5. Project proposal and feasibility study report； and

　　6. Other relevant information that the lender may consider necessary to be provided.

　　Article 26　Credit rating of a borrower：

　　The credit rating of a borrower shall be assessed according to factors such as the quality of its leaders， his or its actual financial status， his or its fund portfolio， his or its history of honouring agreements， his or its business benefits and his or its development prospects. Ratings may be given independently and controlled internally by the lender， or be given by an appraisal organization approved by the authorized departments.

　　Article 27　Investigation of loans：

　　After a lender has received an application from a borrower， he or it shall carry out an investigation into the borrower's credit rating， as well as the legality， security， profitability， etc. of the loan， verify the details of the mortgaged or pledged property and guarantor， and assess the level of risks involved in the loan.

　　Article 28　Examination and approval of loans：

　　Lenders shall establish a loan administration system in which loan examination is separated from loan approval， and examination and approval is carried out at different levels. The examination personnel shall verify and appraise the information provided by the investigation personnel， re-assess the loan risks， provide suggestions， and in accordance with their stipulated limits of authority， submit the same for approval.

　　Article 29　Entry into a loan contract：

　　For all loans， a loan contract shall be entered into between the lender and the borrower. The loan contract shall stipulate the type， purpose， amount of the loan， interest rate on the loan， the lending term， repayment method， rights and obligations of the borrower and lender， liability for breach of contract and other matters that the two parties consider necessary to stipulate.

　　For a guaranteed loan， the guarantor and the lender shall enter into a guarantee contract， or the guarantor shall make a clear statement in the loan contract regarding the guarantee provisions discussed and unanimously agreed upon with the lender， which shall be sealed with the official seal of the guarantor legal person， and contain the signature and full name of the legal representative of the guarantor or of a representative authorized by him. For a mortgage loan or pledge loan， the mortgagor or pledgor and the lender shall enter into a mortgage or pledge contract， and where such contract is required to be registered， registration shall be handled in accordance with the law.

　　Article 30　Provision of loans：