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TABLE OF CONTENTS CHAPTER I GENERAL PROVISIONS CHAPTER II TRUSTEE CHAPTER III ACCOUNT MANAGER CHAPTER IV CUSTODIAN CHAPTER V INVESTMENT MANAGER CHAPTER VI INTERMEDIARY SERVICE INSTITUTIONS CHAPTER VII INVESTMENTS BY USING ENTERPRISE ANNUITIES FUND CHAPTER VIII ALLOCATION OF YIELDS AND EXPENSES CHAPTER IX INFORMATION DISCLOSURE CHAPTER X SUPERVISION AND EXAMINATION CHAPTER XI SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. With a view to protecting the legitimate rights and interests of all parties of enterprise annuities and regulating the management of enterprise annuities fund, the present Measures are formulated in accordance with the labor law, trust law, contract law, securities investment fund law and the relevant provisions of the State Council. Article 2. The present Measures shall be applicable to the entrustment management, account management, trust management and investment management related to the enterprise annuities fund. The term "enterprise annuities fund" mentioned in the present Measures refers to the fund raised according to the enterprise annuities plan formulated in accordance with the law and the enterprise supplementary old-age insurance fund formed by yields from the investments and operations. Article 3. According to the relevant provisions of the state, a written contractual relationship shall be established between an enterprise that has set up enterprise annuities and its employees, as the trustor, and the enterprise annuity council or legal person trusted institution (hereinafter referred to the trustee), between the trustee and the enterprise annuities fund account management institution (hereinafter referred to the account manager), between the enterprise annuities fund trust institution (hereinafter referred to the custodian) and enterprise annuities fund investment management institution (hereinafter refereed to the investment manager). The written contracts shall be reported to the administrative departments of labor and social security for archival purposes. Article 4. The enterprise annuities fund shall be deposited into the special enterprise annuities account. The properties under enterprise annuities fund shall be separated from the existing properties of and other properties managed by the trustor, trustee, account manager, custodian, investment manager and other natural persons, legal persons or other organizations that provide services for the management of enterprise annuities fund. The properties and yields obtained from managing or using the enterprise annuities fund or by other means shall be regarded as the properties under the fund. Article 5. If any of the trustors, trustees, account managers, custodians, investment managers, and other natural persons, legal persons or other organizations that provide services for enterprise annuities fund, conducts liquidation for termination due to lawful dissolution, cancellation or announcement of bankruptcy, the properties under the enterprise annuities fund shall not fall into the scope of liquidation. Article 6. The credits under the properties of enterprise annuities fund shall not offset the debts under the fixed properties of the trustor, trustee, account manager, custodian, investment manager and other natural persons, legal persons or other organizations that provide services for the management of enterprise annuities fund. The credits and debts related to the enterprise annuities fund of different enterprises shall not be offset against one another. Article 7. Any debt other than those undertaken by properties under the enterprise annuities fund shall not be enforced against the properties under the fund. Article 8. The trustees, account managers, custodians, investment managers, and other natural persons, legal persons or other organizations provide services for the management of enterprise annuities fund shall carefully perform their duties, and fulfill their obligations of honesty, good faith, prudence and diligence. Article 9. The Ministry of Labor and Social Security shall be responsible for formulating the relevant polices on the management of enterprise annuities fund. The administrative departments for labor and social security shall conduct supervision over the management of enterprise annuities fund. CHAPTER II TRUSTEE Article 10. The term "trustees" mentioned in the present Measures refers to the enterprise annuities councils or the old-age insurance management companies or other legal person trusted institutions meeting the requirements of the state that are entrusted to manage the enterprise annuities fund. Article 11. The enterprise annuities council shall be composed of the enterprise and the representatives of employees. It shall manage the matters relating to the enterprise annuities of the enterprise in accordance with the law, and shall not engage in any operating activities. An enterprise annuities council shall be honest and faithful, shall have no record of serious violations, and shall not charge any fees. Article 12. A legal person trusted institution shall satisfy the following conditions: (1)Having registered within the territory of China upon approval of the financial supervisory department of the state; (2)Its registered capital is not less than RMB 100 million yuan, and its net assets shall have been not less than RMB 150 million yuan at any time; (3)It has perfect legal person governance structure; (4) Having enough number of full-time employees with qualifications to engage in operations of enterprise annuities fund; (5) It has qualified business places, safety facilities and other facilities relating to the trust management of enterprise annuities fund; (6) It has perfect internal auditing and supervision system and risk control system; (7) Having no serious violations of law and regulations for recent 3 years; and (8) Other conditions provided for by the state. Article 13. A trustee shall perform the following duties: (1)Selecting, supervising and replacing the account managers, custodians, investment managers and intermediary service institutions; (2)Formulating enterprise annuities fund investment strategies; (3)Formulating enterprise annuities management reports and financial accounting statements; (4)Conducting supervision over the management of enterprise annuities fund according to the contract; (5)Collecting money paid by the enterprise and its employees, and paying enterprise annuities to the beneficiaries; (6)Accepting inquiries of the trustors and beneficiaries, regularly submitting reports on the management of enterprise annuities fund to the trustor, beneficiaries and the pertinent supervisory department. Where any serious event occurs, it shall timely report to the trustor, beneficiaries and the pertinent supervisory department; (7) Preserving the records relating to the management of enterprise annuities fund for at least 15 years according to the regulations of the state; and (8) Other duties provided for by the state and stipulated in the contract. Article 14. The term "the beneficiaries" mentioned in the present Measures refers to the employees of an enterprise who participate in the enterprise annuities plan and are entitled to the beneficial rights. Article 15. A legal person trusted institution shall have the qualifications for account management or investment management, it may concurrently act as an account manager or investment manager, but shall ensure the independence of different items of management. Article 16. A legal person trusted institution shall terminate its duties if it is under any of the following circumstances: (1)Breaching the contract signed with the trustor; (2)Seeking interests for itself or seeking improper interests for others by making use of the properties under the enterprise annuities fund; (3)Being dissolved, canceled, announced bankruptcy or taken over in accordance with the law; (4)Being disqualified from engaging in management of enterprise annuities fund according to the law; (5)The trustor has evidence to believe that it is consistent with the interests of the beneficiaries to change the trustee; (6)The pertinent supervisory department has adequate reasons and grounds to believe that it is consistent with the interests of the beneficiaries to change the trustee; or (7)Other circumstance provided for by the state and stipulated in the contract. If the enterprise annuities council is under any of the circumstances listed in the preceding paragraph, a new one shall be established according to the relevant regulations of the state. Article 17. After the trustee terminates its duties, the trustor shall appoint a new trustee within 30 days. After the trustee terminates its duties, it shall properly preserve the materials relating to the management of enterprise annuities fund, and shall timely go through the formalities for transfer of trust operations, and the new trustee shall take over such operations. Article 18. After the trustee terminates its duties, it shall, according to the relevant regulations, hire an accounting firm to audit the management upon trust. The auditing result shall be reported to the trustor and the relevant supervisory department for archival purposes. CHAPTER III ACCOUNT MANAGER Article 19. The term "the account managers" mentioned in the present Measures refers to the special institutions engaging in the management of enterprise annuities fund accounts upon entrustment of trustees. Article 20. An account manager shall meet the following conditions: (1)It shall be an independent legal person registered within the territory of China upon approval of the relevant departments of the state; (2)Its registered capital shall not be less than RMB 50 million yuan; (3)Having perfect legal person governance structure; (4)Having enough number of full-time employees with qualifications to engage in operations of enterprise annuities fund; (5)Having the corresponding account information management system for the enterprise annuity fund; (6) It has qualified business places, safety facilities and other facilities relating to the trust management of enterprise annuities fund; (7) It has perfect internal auditing and supervision system and risk control system; and (8) Other conditions provided for by the state. Article 21. A account manager shall perform the following duties: (1)Establishing enterprise accounts and individual accounts under enterprise annuities fund; (2)Recording the money paid by the enterprise and its employees, and the yields from the investments enterprise annuities fund; (3)Verifying with the trustor the data on payments and the status of the properties of the enterprise annuities fund account; (4)Calculating the enterprise annuities; (5)Providing information inquiry services relating to the enterprise accounts and individual accounts under enterprise annuities fund; (6)Submitting regular reports on the management of enterprise annuities fund account to the trustor and the relevant supervisory department; (7)Preserving the files related to the management of enterprise annuities fund account for 15 years according to the provisions of the state; and (8)Other duties provided for by the state and stipulated in the contract. Article 22. An account manager shall terminate its duties under any of the following circumstances: (1) Breaching the contract signed with the trustor; (2)Seeking interests for itself or seeking improper interests for others by making use of the properties under the enterprise annuities fund; (3)Being dissolved, canceled, announced bankruptcy or taken over in accordance with the law; (4)Being disqualified from engaging in management of enterprise annuities fund according to the law; (5)The trustor has evidence to believe that it is consistent with the interests of the beneficiaries to change the trustee; (6)The pertinent supervisory department has adequate reasons and grounds to believe that it is consistent with the interests of the beneficiaries to change the trustee; or (7)Other circumstance provided for by the state and stipulated in the contract. Article 23. After the account manager terminates its duties, it shall determine a new account manager within 30 days. After the account manager terminates its duties, it shall properly preserve the materials relating to the management of enterprise annuities fund account, and shall timely go through the formalities for the transfer of the account management business, and the new account manager shall timely take over such business. Article 24. After the account manager terminates its duties, it shall, according to the relevant regulations, hire an accounting firm to audit the management of accounts. The auditing result shall be reported to the trustor and the relevant supervisory department for archival purposes. CHAPTER IV CUSTODIAN Article 25. The term "custodians" mentioned in the present Measures refers to the commercial banks or special institutions that are entrusted to take care of the properties under enterprise annuities fund. The custodian of a single enterprise annuities plan shall be a commercial bank or special institution. Article 26. A custodian shall meet the following conditions: (1) It shall be an independent legal person registered within the territory of China upon approval of the relevant departments of the state; (2)Its net assets shall not be less than RMB 5 billion yuan; (3)Having enough number of full-time employees with qualifications to engage in operations of enterprise annuities fund; (4)Meeting the conditions for taking care of the properties under enterprise annuities fund; (5)Having a safe and highly efficient settlement & transfer system; (6) It has qualified business places, safety facilities and other facilities relating to the trust management of enterprise annuities fund; (7) It has perfect internal auditing and supervision system and risk control system; and (8) Other conditions provided for by the state. Where a commercial bank acts as a custodian, it shall establish a special department for the trusted fund. Article 27. A custodian shall perform the following duties: (1)Safekeeping the properties under enterprise annuities fund; (2)Opening a fund account and a securities account in the name of enterprise annuities fund for the properties under the fund; (3)Establishing different book accounts for the properties under different enterprise annuities funds, and ensuring the integration and independence of properties under the funds; (4)Allocating the properties under enterprise annuities fund to the investment managers according to the instructions of the trustee; (5)Conducting settlements and transfers in time according to the instructions of the investment manager on investments; (6)Being responsible for the accounting calculations and estimations of enterprise annuities fund, re-verifying and examining the net value of the properties under the fund calculated by the investment manager; (7)Verifying with the account manager and the investment manager the relevant data in time, supervising the investment operations of the investment manager; (8)Submitting regular reports on the trusted enterprise annuities fund and the financial accounting statements to the trustee; (9)Submitting regular reports on the trusted enterprise annuities fund to the supervisory department; (10)Preserving the records, account books, statements and other materials related to the operations of the trusted enterprise annuities fund for at least 15 years according to the provisions of the state; and (11)Other duties provided for by the state and stipulated in the contract. Article 28. Where the custodian finds that an investment instruction of the investment manager is in violation of the laws, administrative regulations, other relevant regulations or contractual stipulations, it shall refuse to execute this instruction, shall notify the investment manager immediately, and shall timely report to the trustee and the relevant supervisory department. Where the custodian finds that an effective instruction made by the investment manager according to the transaction procedure is in violation of the laws, administrative regulations, other relevant provisions or contractual stipulations, it shall refuse to execute this instruction, shall notify the investment manager immediately, and shall timely report to the trustee and relevant supervisory department. Article 29. The custodian shall terminate its duties under any of the following circumstances: (1) Breaching the contract signed with the trustee; (2)Seeking interests for itself or seeking improper interests for others by making use of the properties under the enterprise annuities fund; (3)Being dissolved, canceled, announced bankruptcy or taken over in accordance with the law; (4) Being disqualified from engaging in management of enterprise annuities fund according to the law; (5) The trustee has evidence to believe that it is consistent with the interests of the beneficiaries to change the custodian; (6)The pertinent supervisory department has adequate reasons and grounds to believe that it is consistent with the interests of the beneficiaries to change the custodian; or (7)Other circumstances provided for by the state and stipulated in the contract. Article 30. After the custodian terminates its duties, it shall determine a new custodian within 30 days. After the custodian terminates its duties, it shall properly preserve the materials related to the trusted enterprise annuities fund, and shall timely go through the formalities for the transfer of the trusted operations, and the new custodian shall timely take over such operations. Article 31. After the custodian terminates its duties, it shall, according to the relevant regulations, hire an accounting firm to audit the trusted operations. The auditing result shall be reported to the trustee and the relevant supervisory department for archival purposes. Article 32. A custodian is prohibited from conducting any of the following acts: (1)Managing the trusted properties under enterprise annuities fund and its fixed properties in a mixed way; (2)Managing the trusted properties under enterprise annuities fund and other properties in a mixed way; (3)Managing the properties of different enterprise annuities funds in a mixed way; (4)Misappropriating the trusted properties under enterprise annuities fund; (5)Other acts provided for by the state or prohibited in the contract. CHAPTER V INVESTMENT MANAGER Article 33. The term "investment managers" mentioned in the present Measures refers to the special institutions that are entrusted by the trustee to be responsible for the investments management of properties under enterprise annuities fund. Article 34. An investment manager shall meet the following conditions: (1)It shall be an independent legal person registered within the territory of China upon approval of the financial supervisory department, and shall have the relevant qualifications for engaging in management of investments, funds or assets; (2) A comprehensive securities company shall have a registered capital of at least RMB 1 billion yuan and shall keep the net assets of RMB 1 billion yuan at any time. A fund management company, trust investment company, insurance asset management company or any other special investment institution shall have a registered capital of at least RMB 100 million yuan and shall keep the net assets of RMB 100 million yuan at any time; (3) Having perfect legal person governance structure; (4) Having enough number of full-time employees with qualifications to engage in operations of enterprise annuities fund; (5) Having the corresponding fund account information management system of enterprise annuities; (6) Having qualified business places, safety facilities and other facilities related to the trust management of enterprise annuities fund; (7) Having no serious violations of laws and regulations in recent 3 years; and (8)Other conditions provided for by the state. Article 35. An investment manager shall fulfill the following duties: (1)Making investments by using the properties under enterprise annuities fund; (2)Verifying the enterprise annuities fund accounting and estimation results with the custodian in time; (3)Establishing enterprise annuities fund investment management risk reserve; (4)Submitting regular reports on investment management to the trustee and the relevant supervisory department; (5)Preserving the accounting vouchers, account books, annual financial accounting statements and investment records related to the properties under enterprise annuities fund for at least 15 years according to the provisions of the state; and (6) Other duties provided for by the state and stipulated in the contract. Article 36. The investment manager shall timely report to the trustee and the relevant supervisory department if it is under any of the following circumstances: (1) The market value of the properties under enterprise annuities fund fluctuates greatly; (2) It is under capital reduction, merger, division, lawful dissolution, or it is cancelled lawfully, deciding to apply for bankruptcy or is applied for bankruptcy; (3) Being involved in any significant lawsuit or arbitration; (4) There are important changes to the directors, supervisors, managers and other senior managerial personnel; (5) Other matters that may have significant effects on the value of the properties under enterprise annuities fund; or (6) Other circumstances provided for by the state and stipulated in the contract. Article 37. The investment manager shall terminate its duties under any of the following circumstances: (1) Breaching the contract signed with the trustee; (2)Seeking interests for itself or seeking improper interests for others by making use of the properties under the enterprise annuities fund; (3)Being dissolved, canceled, announced bankruptcy or taken over in accordance with the law; (4) Being disqualified from engaging in management of enterprise annuities fund according to the law; (5) The trustee has evidence to believe that it is consistent with the interests of the beneficiaries to change the investment manager; (6)The pertinent supervisory department has adequate reasons and grounds to believe that it is consistent with the interests of the beneficiaries to change the investment manager; or (7)Other circumstances provided for by the state and stipulated in the contract. Article 38. After the custodian terminates its duties, it shall determine a new investment manager within 30 days. After the custodian terminates its duties, it shall properly preserve the materials related to the investment management of enterprise annuities fund, and shall timely go through the formalities for the transfer of the investment management operations, and the new custodian shall timely take over such operations. Article 39. After the investment manager terminates its duties, it shall, according to the relevant regulations, hire an accounting firm to audit the investment management, and shall report the auditing result to the trustee and the relevant supervisory department for archival purposes. Article 40. An investment manager shall be prohibited from conducting any of the following acts: (1) Managing its own fixed or others' properties and the properties under enterprise annuities fund in a mixed way; (2) Failing to offer fair treatments to properties under different enterprise annuities funds managed by it; (3) Misappropriating any properties under enterprise annuities fund; or (4) Other acts prohibited by the state or in the contract. CHAPTER VI INTERMEDIARY SERVICE INSTITUTIONS Article 41. The term "intermediary service institutions" mentioned in the present Measures refers to the investment consultation companies, credit appraisal companies, actuarial consultation companies, law firms, accounting firms and other special institutions that provide services for the management of enterprise annuities fund. Article 42. Upon entrustment, an intermediary service institution may engage in the following operations: (1)Designing enterprise annuities plan for an enterprise; (2)Offering consultation services for the management of enterprise annuities; (3)Offering consultation services for a trustee in selecting the account manager, custodian or investment manager; (4) Evaluating the performances of enterprise annuities management; (5) Auditing the financial accounting statements on the enterprise annuities fund; and (6) Other operations provided for by the state or stipulated in the contract. Article 43. An intermediary service institution shall strictly abide by the relevant professional standards when offering intermediary services relating to enterprise annuities. CHAPTER VII INVESTMENTS BY USING ENTERPRISE ANNUITIES FUND Article 44. With regard to the management of investments by using enterprise annuities fund, one shall follow the principle of prudence and risk dispersing, shall make full consideration of the safety and fluidity of properties under enterprise annuities fund, and shall conduct specialized management. Article 45. None of the directors, supervisors, managers and other practitioners of an investment manager may act as a custodian or take any other position of other investment manager. The investment manager and the custodian shall not be the same person, and shall not invest in each other or hold each other's shares. Article 46. The investment scope for the properties under enterprise annuities fund shall be limited to bank deposits, state debts and other well-flowing financial products, including the repurchase of short-term bonds, financial debts and enterprise debts rated investment grade or better, convertible bonds, investment insurance products, securities investment fund and stocks, etc. Article 47. When calculating an investment by using properties under an enterprise annuities fund according to the market price, the following provisions shall be observed: (1)The proportion of the investments in bank current deposits, Central Bank bills, repurchase of short-term bonds and other flowing products and money-market funds shall not be less than 20% of the net assets of the fund; (2)The proportion of the investments in bank fixed deposits, deposits upon agreement, state debts, financial debts, enterprise debts and other products with fixed yields, convertible bonds and bond funds shall not exceed 50 % of the net assets of the fund. Moreover, the proportion of the investments in state debts shall not be less than 20% of the net assets of the fund; and (3)The proportion of the investments in stocks and other equity products, investment insurance products and stock funds shall not exceed 30 % of the net assets of the fund. Moreover, the proportion of the investments in stocks shall not exceed 20% of the net assets of the fund. Article 48. According to the changes of financial market and operations of investments, the Ministry of Labor and Social Security shall, together with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, adjust the investment management institutions of enterprise annuities fund, investment products and proportions in good time. Article 49. With regard to the properties under enterprise annuities fund managed by a single investment manager, when calculating the investments in the securities issued by a single enterprise or in a single securities investment fund according to market value, these investments shall not exceed 5% of the securities issued by this enterprise or the shares of the fund, nor may they exceed 10 % of the total value of the properties under enterprise annuities fund managed by it. Article 50. When an investment manager invests the properties under enterprise annuities fund managed by it in the financial products managed by itself, it shall have obtained the permission from the trustee. Article 51. No enterprise annuities fund may be used in credit transaction, nor be used as loans or guaranties to others. No investment manager may engage in investments, for which the properties under enterprise annuities fund shall bear unlimited liabilities. CHAPTER VIII ALLOCATION OF YIELDS AND EXPENSES Article 52. An account manager shall, according to the net value or net value increase rate of properties under an enterprise annuities fund, record the weekly or daily full amount in the enterprise account and individual accounts of enterprise annuities fund. Article 53. The management fee withheld by the trustee shall not exceed 0.2% of the net value of the trusted properties under enterprise annuities fund. Article 54. The management fee charged by the account manager shall be limited to not more than 5 yuan / per month for each account, which shall be separately paid by the enterprise that establishes the enterprise annuities plan. Article 55. The trust fee withheld by the custodian shall not exceed 0.2% of the net value of the trusted properties under enterprise annuities fund. Article 56. The management fee withheld by the investment manager shall not exceed 1.2% of the net value of the properties under enterprise annuities fund of the investment management enterprise. Article 57. The Ministry of Labor and Social Security shall, together with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, adjust the relevant management fee or trust fee according to the management of enterprise annuities fund. Article 58. The investment manager shall withhold 20 % of the current-period management fee charged by it as the reserve for risks of investment management of enterprise annuities fund, which shall be used only for making up the losses of enterprise annuities fund investments. The reserve for risks of investment management of enterprise annuities fund shall be put into the special account in the bank as the custodian. If the balance of the reserve reaches 10% of the net value of the enterprise annuities fund of the investment management enterprise, no more money may be withheld for it. CHAPTER IX INFORMATION DISCLOSURE Article 59. The trustees, account managers, custodians and investment managers shall report the information on the management of the enterprise annuities fund to the relevant supervisory departments according the pertinent provisions, and shall be liable for the authenticity and completeness of the reported content. Article 60. A trustee shall, within 15 days after the end of each quarter, submit a report on the management of enterprise annuities fund to the trustor, and it shall, within 45 days after the end of every year, submit an annual report on the management of enterprise annuities fund to the trustor. Accompanying this report, the annual financial accounting statements of the enterprise annuities fund shall have been audited by an accounting firm. Article 61. An account manager shall, within 10 days after the end of each quarter, submit a report on the management of enterprise annuities fund to the trustee, and shall, within 30 days after the end of every year, submit an annual report on the management of enterprise annuities fund to the trustee. Article 62. A custodian shall, within 10 days after the end of each quarter, submit a report on the management of enterprise annuities fund and the related financial accounting statements to the trustee, and it shall, within 30 days after the end of every year, submit an annual report on the management of enterprise annuities fund to the trustee. Accompanying this report, the annual financial accounting statements shall have been audited by an accounting firm. Article 63. An investment manager shall, within 10 days after the end of each quarter, submit a quarterly report on the investments of enterprise annuities fund upon confirmation of the custodian to the trustee, and shall, within 30 days after the end of every year, submit an annual report on the investment management of enterprise annuities fund to the trustee. CHAPTER X SUPERVISION AND EXAMINATION Article 64. Where a legal person trusted institution, account manager, custodian or investment manager is to engage in operations related to management of enterprise annuities fund, it shall file an application to the Ministry of Labor and Social Security. Before a legal person trusted institution or investment manager files an application to the Ministry of Labor and Social Security, it shall have obtained the approval of the corresponding supervisory department. Before a custodian files an application to the Ministry of Labor and Social Security, it shall have reported to the corresponding supervisory department for archival purposes. Article 65. After the Ministry of Labor and Social Security has received the application of a legal person trusted institution, account manager, custodian or investment manager, it shall organize an expert appraisal commission to conduct prudent appraisals according to the relevant provisions. If the applicant meets the relevant requirements upon appraisal, it shall be confirmed and announced by the Ministry of Labor and Social Security jointly with other pertinent departments. If it doesn't meet the relevant requirements, it shall be given a written notice. An expert appraisal commission shall consist of the representatives of the concerned departments and the experts from the society. Article 66. When a trustee, account manager, custodian or investment manager carries out operations related to the management of enterprise annuities fund, it shall be subject to the supervision of the administrative department. Business regulators of the trustee, the custodian and investment managers shall supervise the business activities according to their respective duties. Article 67. Any one who violates the provisions of the present Measures shall be given a warning by the Ministry of Labor and Social Security, shall be ordered to get right within a time limit; if it fails to get right within the time limit, it shall be ordered to stop its operations related to the management of enterprise annuities fund. CHAPTER XI SUPPLEMENTARY PROVISIONS Article 68. If the State Council has otherwise provisions on the management of enterprise annuities fund, those provisions shall be followed. Article 69. The present Measures shall come into force as of May 1, 2004. |
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