【正文】 tend as nonvoting members and to report the opinions and demands of staff and workers to meetings of the board of directors held to discuss issues such as development plans, production and managing activities of the Joint Venture Company.Article 48The trade union shall take part in the mediation of disputes arising between the staff and workers and the Joint Venture Company.Article 49The Joint Venture Company shall allot an amount of money totally 2% of all the salaries of the staff and workers of the Joint Venture Company as trade union39。s funds, which shall be used by the trade union in accordance with the “Managerial Rules for the Trade Union Funds”, formulated by the All China Federation of Trade Union.Chapter 10 Duration, Termination and Liquidation of the Joint VentureArticle 50The duration of the Joint Venture Company is ___________ years. The establishment of the Joint Venture Company shall start from the date on which the business license of the Joint Venture Company is issued.An application for the extension of the duration. proposed by one party and unanimously approved by the board of directors, shall be submitted to the original examining and approving authority 6 months prior to the expiry date of the joint venture.Article 51 With the agreement between both parties on the termination which should be pursuing the best benefits for the parties, the joint venture will be terminated. In this case, the decision for the termination shall be made by the board meeting 90 days before the date of termination of the joint venture, and be submitted to the original examining and approving authority.Article52When the following situations happened, either party has right to terminate the joint venture:1) Expiration of the duration of the Joint Venture Company。2) Inability to continue operations due to heavy losses。3) Inability to continue operations due to heavy losses caused by the force majeure。4) Inability to continue operations due to the failure of the party to fulfill its obligations prescribed in the contract and the Articles of Association。5) Failure to obtain the desired objectives of the operation and no prospects for the future development of the Joint Venture Company.Article 53Upon the expiration of the duration or termination of the Joint Venture Company, the board of directors shall work out procedures and principles for the liquidation, nominate candidates for the liquidation mittee for liquidating the assets of the Joint Venture Company.Article 54The task of the liquidation mittee are: to conduct through check of the property of the Joint Venture Company, its claims and indebtedness。 to work out the statement of assets and liabilities and list of property。 to formulate a liquidation plan. All these shall be carried out upon the approval of the board of directors.Article 55The remaining property after the clearance of debts of the Joint Venture Company shall be carried out upon the approval of the board of directors.Article 56On pletion of the liquidation, the Joint Venture Company shall submit a liquidation report to the original examining and approving authority, go through the formalities for nullifying its registration in the original registration office and hand in its business license, at the same time, make an announcement to the public.Article 57After winding up of the Joint Venture Company, its accounting books shall be left in the care of Party A.Chapter 11 RegulationsArticle 58 Following are the rules and regulations formulated by the board of directors of the Joint Venture Company:1) Management regulations, including the powers and functions of the managerial branches and its working rules and procedures。2) Rules for the staff and workers。3) System of labor and salary。4) System of work attendance record, promotion and awards and penalty for the staff and workers。5) Detailed rules of staff and worker39。s welfare。6) Financial system。7) Liquidation procedures upon the dissolution of the Joint Venture Company。8)Other necessary rules and regulations.Chapter l2 Applicable Law Article 59The formation of this contract, its validity, interpretation, execution and settlement of the disputes shall be governed by the relevant laws of the People39。s Republic of china. Chapter 13 Supplementary Articles Article 60 The amendment to the Articles of Association shall be unanimously agreed and decided by the board of directors and submitted to the original examining and approving authority for approval. Article 61 The contract shall be written in Chinese and in English. Both languages are equally authentic. In events of any discrepancy between the two aforementioned versions, the Chinese version shall prevail.Article 62The Articles of Association shall e into effect upon the approval by People39。s Republic China. The same applies Foreign Trade and Economic Cooperation Bureau, in the events of amendments.Article 63The Articles of Association is signed in __Province (city) China by the authorized representatives of both parties on.Party A Party B14 / 14