Decree of the Chairman of the People's Republic of China
No. 55

The "Partnership Business Law of the People's Republic of China" has been approved on the 23rd meeting of the Tenth NPC Standing Committee of the People's Republic of China on August 27, 2006. The revised "Partnership Business Law of the People's Republic of China" is now promulgated and shall come into effect as of June 1, 2007.

Hu Jintao, Chairman of the People's Republic of China
August 27, 2006

Partnership Business Law of the People's Republic of China
(Approved on the 24th meeting of the Eighth NPC Standing Committee of the People's Republic of China on February 23, 1997; Revised on the 23rd meeting of the Tenth NPC Standing Committee of the People's Republic of China on August 27, 2006)

CONTENTS

Chapter I General Provisions
Chapter II Ordinary Partnership Businesses
Section 1 Establishment of a Partnership Business
Section 2 Property of a Partnership Business
Section 3 Operation of a Partnership Business
Section 4 Relationship Between a Partnership Business and a Third Party
Section 5 Admission to and Withdrawal from Partnership
Section 6 Special Ordinary Partnership Businesses
Chapter III Limited Partnership Businesses
Chapter IV Disbandment and Liquidation of Partnership Businesses
Chapter V Legal Liabilities
Chapter VI Supplementary Provisions

Chapter I General Provisions

Article 1 This Law is formulated for the purposes of standardizing the behavior of partnership businesses and protecting the legitimate rights and interests of those businesses and their partners and creditors, and thus to safeguard the social and economic order, and promote the development of the socialist market economy.