【正文】 After a collective contract is concluded, it shall be submitted to the labor administrative department. The collective contract shall bee effective if within 15 days after receipt of the same, the labor administrative department does not raise any objection to the contract. A collective contract that has been concluded in accordance with the law shall be binding upon the Employer and the employees. An industrybased or regionbased collective contract shall be binding upon the Employers and the employees in the industry or in the area in the localit。Enterprise employees, as one party, may enter into a special collective contract with the Employer with regard to issues concerning work safety and hygiene, protection of female workers’ rights and interests, wage adjustment mechanism, etc. Article 53Collective ContractsArticle 51The State will adopt measures to establish a prehensive system that enables worker’s social insurance accounts to be transferred from one region to another and to be continued in such other region. Article 50An employee shall be paid financial pensation based on the number of years he has worked for the Employer at the rate of one month’s wages for each full year worked. Any period of not less than 6 months but less than one year shall be counted as one year. The financial pensation payable to a worker for any period of less than 6 months shall be onehalf of his monthly wage. If the monthly wage of a worker is three times greater than the average monthly wage in the previous year for employees as announced by the people’s government at the municipal level directly under the central government or at the citywithdistrict level where the Employer is located, the rate for the financial pensations paid to him shall be three times the average monthly wage of employees and shall be for not more than 12 years of work.The term “monthly wage” as mentioned in this Article refers to the worker’s average wage for the 12 months prior to revocation or termination of his labor contract.Article 48 or(7)(6)(5)(4)(3)(2)The Employer shall pay the employee financial pensation in any of the following circumstances: (1)other circumstances stipulated by laws or administrative regulations arise. Article 45the Employer has its business license revoked, is ordered to close or is closed down, or the Employer decides on early dissolution。the Employer is declared bankrupt in accordance with law。the worker is deceased, or is declared dead or missing by a people’s court。the employee has started to enjoy his entitlement to basic oldage insurance pension in accordance with the law。the contract term expires。If an Employer is to terminate a labor contract unilaterally, it shall first inform the labor union of the reasons. The labor union shall have the right to demand that the Employer make the necessary adjustment if the Employer violates laws, administrative regulations or the labor contract. The Employer shall consider the opinions of the labor union and notify the labor union in writing of the oute of its handling of the matter. Article 44 or(6)(5)is a female workerhas contracted an illness or sustained a nonworkrelated injury and the prescribed period of medical treatment has not expired。has been confirmed as having lost or partially lost his capacity to work due to an occupational disease contracted or a workrelated injury sustained during his employment with the Employer。 or under medical observation。An Employer shall not terminate a labor contract under Articles 40 and 41 of this Law if the employee:(1) or(3)(2) a material change in the objective economic conditions relied upon at the time of conclusion of the labor contracts renders it impossible for the parties to perform. When reducing its workforce, the Employer shall retain in priority personnel:(1)the enterprise switches production, introduces significant technological innovation or adjusts its business model, and still needs to reduce its workforce after amending the labor contracts。serious difficulties in production and/ or business operation。restructuring pursuant to the Enterprise Bankruptcy Law。If any of the following circumstances make it necessary to reduce the workforce by 20 persons or more, or less than 20 persons but accounting for 10% or more of the total number of employees of the Employer, the Employer may only do so after it has explained the situation to the labor union or to all of its employees 30 days in advance, has considered the opinions of the labor union or the employees,a material change in the objective circumstances relied upon at the time of conclusion of the labor contract renders it impossible for the parties to perform and, after consultation, the Employer and the employee are unable to reach an agreement on amending the labor contract.where the employee is inpetent and remains inpetent after training or adjustment of his position。where the employee is unable to resume his original work nor engage in other work arranged for him by the Employer after the expiration of the prescribed medical treatment period for an illness or nonworkrelated injury。is subject to criminal liability in accordance with the law.Article 40 causes the labor contract to be invalid due to any of the circumstances stipulated in item (1) of the first paragraph of Article 26 of this Law。 establishes an employment relationship with another Employer simultaneously which materially affects the pletion of his task with the original Employer, or he refuses to rectify the situation after being cautioned by the Employer。causes substantial loss to the Employer due to his serious dereliction of duty or engagement in graft for personal gain。materially breaches the Employer’s rules and regulations。fails to meet the requirements for employment during the probation period。causes the occurrence of a circumstance in which laws or administrative regulations allow the