Translation Squire,Sanders Dempsey L.LP. (USS5,000,000),the total amount of investment may not exceed twice(2)the registered capital; (3) if the registered capital is Five Million US Dollars (US$5,000,000)or more but less than Twelve Million US Dollars (US$12,000,000),the total amount of investment may not exceed two and a half(2.5)times the registered capital; (4) if the registered capital is Twelve Million US Dollars (US$12,000,000)or more,the total amount of investment may not exceed three (3)times the registered capital. Article 20 When a foreign investor carries out an Asset Acquisition,the total amount of investment of the proposed FIE shall be determined in accordance with the transaction price of the assets purchased and the actual scale of production and operation.The ratio of the proposed FIE's registered capital to its total amount of investment shall comply with relevant provisions. Chapter III Examination,Approval and Registration Article 21 When a foreign investor carries out an Equity Acquisition,the investor shall submit the documents set forth below to the examination and approval authority whose competence corresponds to the total amount of investment and enterprise type of the proposed FIE and the industry it is to engage in,pursuant to laws, administrative regulations and departmental rules and regulations on the establishment of FIEs: (1) in the case of a domestic limited liability company targeted for acquisition:the unanimous shareholders'resolution in favor of the Equity Acquisition by the foreign investor;in the case of a domestic company limited by shares targeted for acquisition:the resolution of the shareholders'general meeting in favor of the Equity Acquisition by the foreign investor; (2) an application to convert the Domestic Company targeted for acquisition into a newly established FIE in accordance with the law; (3) the contract for and the articles of association of the FIE to be established after the acquisition; (4) the agreement for the purchase of the equity of the shareholder in the Domestic Company or the subscription to the Domestic Company's capital increase by the foreign investor; (5) a financial audit report for the previous fiscal year of the Domestic Company to be acquired; (6) the notarized or legally certified investor's identification documents or certificates of registration and certificates of creditworthiness;