At the invitation of the Firm, Mr. Ke Jun-xiong, Director of Taxation of State Tax Administration International Department, came to the Firm and made a speech on the topic of “Tax Rules and Practices for Foreign Investment Enterprises” on January 4, 2008. Mr. He exchanged ideas with our lawyers on the newly promulgated the PRC Enterprise Income Tax Law, and elaborated on the possible impact of its implementation on foreign investment enterprises during the transition period from the existing preferential treatment to a regular standing, tax rating and collection for hi-tech enterprises, and tax rules for tax harbors. The new “PRC Enterprise Income Tax Law” has been implemented from January 1, 2008. As a result, the establishments of taxation institutions and tax collection system, for both domestic and foreign investment enterprises, have both been changed. The existing preferential tax treatments enjoyed by current enterprises under the prior tax laws, regulations and regulatory rules will be phased out gradually, in accordance with the “State Council’s Notice on Implementation of Phase-out of Preferential Policies for Enterprise Income Tax”. With a view to facilitating the participation of lawyers from all the Firm’s branch offices, the Firm have made a firm-wide on-line broadcasting network system which allows lawyers at every office to have direct access to the seminar live.