With the RCEP agreement finally settled this month, the economic and trade relations between East Asia and Southeast Asia will become closer in the foreseeable future. Under the background of the successful election of US Democratic candidate Biden in the 2020 presidential election, Japan, as the current leader of CPTPP and a signatory of RCEP, its diplomatic choice in the future is also of concern. Will Suga Yoshihide’s cabinet follow the trend and emphasize economic and trade cooperation with countries in Asia, or will it return to its foreign policy during the Obama administration of the Democratic Party and seek coordination with the east coast of the Pacific through the TPP framework? At present, when the argument of the new cold war is raging, we may be able to glimpse some clues of Japan’s current decision-making by reviewing Japan’s diplomatic choices in the cold war between the United States and the Soviet Union in the twentieth century.

As we all know, Japan and China did not establish formal diplomatic relations for a quarter of a century from 1949 to 1972. Although the two countries managed to develop and maintain some trade.【1】However, under the background that the United States pursues a containment policy towards the communist countries in Asia, Japan’s contact policy with China, Vietnam (North Vietnam) and even countries that pursue neutrality in Southeast Asia has experienced considerable repetitions. However, Japan’s economic assistance to pro-American countries in the region, such as Indonesia after Suharto’s coup in 1965 and Malaysia, which suppressed its own communist struggle for a long time, has long been regarded by scholars in the history of international relations as evidence that Japan follows the American policy in Asia.

However, with the gradual declassification of diplomatic documents from 1950s to 1960s, the assertion that Japan was simply classified as a follower of American containment strategy in the past was questioned to a considerable extent. Through these diplomatic documents, we can see that many of Japan’s early engagement policies with China, such as breaking the trade ban on China (CHINCOM) and providing export loans to China through state-owned export-import banks, directly challenged the American strategy in Asia. At the same time, Japan’s strategic conception in Southeast Asia, that is, the strategy of establishing Japan-Southeast Asia manufacturing industry chain, is also obviously opposed to the American conception of Japan as a supplier of consumer goods in Southeast Asia. The author also wants to point out that this opposition not only appeared in the cabinet of Ichiro Hatoyama and Ikeda Hayato, which were relatively pro-China and neutral, but also appeared in the cabinet of Kishi Nobusuke and Eisaku Satō, which were traditionally considered pro-American and anti-China. In other words, the pursuit of post-war Asian policy independence is the consensus of the Japanese ruling group and will not change because of the change of Japan-US relations. In this paper, the author will sort out the diplomatic documents between the United States and Japan from the Bandung Conference in 1955 to the establishment of diplomatic relations between China and Japan in 1972 to illustrate Japan’s entanglement and hesitation in the pro-American/independent diplomatic routes. The upper part will mainly describe the diplomatic confrontation between China, Japan and the United States before the Bandung Conference in 1955 and the Sino-Japanese LT Trade Agreement in 1961, while the lower part will mainly describe the political turmoil in Southeast Asian countries since 1960, as well as the influence of different routes of struggle between Japan’s Ministry of Foreign Affairs and the Ministry of International Trade and Industry on Japan-US foreign policy.

Sino-Japanese Contact in Bandung Conference in 1955 and Japan’s Idea of "Returning to Asia"

If we try to find the origin of Japan’s postwar foreign policy toward Asia, a historical node that can hardly be ignored is the Bandung Conference, which we are all familiar with, that is, the 1955 Asian-African Conference. Apart from the Five Principles of Peaceful Coexistence put forward by China at the Bandung Conference, Japan also got the opportunity to intervene in regional politics again through this conference. Despite the strong opposition from the United States, Ichiro Hatoyama’s government sent a Japanese delegation headed by Tatsunosuke Takasaki, then Japan’s Minister of International Trade and Industry, to attend the meeting, and took this opportunity to realize informal contacts between China and Japan.

The Japanese delegation is headed by Tatsunosuke Takasaki (second from left).

Japan’s diplomatic decision to participate in the Bandung Conference was made against the background of its domestic economic recovery. With the smooth progress of Japan’s economic recovery in the mid-1950s, when Ichiro Hatoyama became prime minister in 1955, Japan had generally returned to the highest level of the pre-war economy. Hatoyama confidently declared in Congress that Japan’s "post-war era" was over. In his view, the urgent task of the Japanese government is to re-establish Japan’s position in the international community and conduct diplomacy that is more in line with Japan’s interests. Under the guidance of this thought, Ichiro Hatoyama’s government hoped to adopt a softer diplomatic stance, and put forward the idea that Japan would intervene in Asian geopolitics as a "window between the East and the West".

On the other hand, in 1955, China also had a political basis for seeking cooperation extensively in diplomacy. It is true that both the War to Resist U.S. Aggression and Aid Korea in 1951 -1953 and the efforts of China’s military advisory group headed by Chen Geng in Dien Bien Fuk’s triumph in 1954 clearly showed that China would be committed to opposing the imperialist intervention of western countries in neighboring countries. However, when the war ended in 1953, the demand for resources necessary for domestic economic construction through foreign trade made China leaders adopt a very pragmatic diplomatic attitude on the international stage. European delegates to the Geneva Peace Conference in 1954 were surprised to find that China had adopted a foreign policy that was different from the previous one and centered on the economy. Similarly, at the Bandung Conference in 1955, Zhou Enlai also put forward suggestions for economic cooperation to Indonesian, Ceylon and Cambodian representatives, and promised that China would not seek interference and influence other countries’ internal affairs.

It is worth mentioning that the candidates for the Japanese delegation to the Bandung Conference are worth pondering, and can also reflect Japan’s consideration of its international status at that time to some extent. Tatsunosuke Takasaki, the head of the delegation, was appointed as the chief representative of Japan by Ichiro Hatoyama, not only because he has extensive contacts in the industry as a practical economic bureaucrat, so that he can represent Japan to discuss economic and trade cooperation with the countries present, but also reflects the long-standing Pan-Asian tradition in Japan. Whether it is the ruling Liberal Democratic Party after the war or the Japanese industry, before Japan’s defeat and surrender in the first half of the 20th century, quite a few people participated in Japan’s aggression and expansion in Southeast Asia, China and the Korean Peninsula, and were influenced by the so-called "Greater East Asia Co-prosperity Circle" theory, so they had intuitive feelings and experiences on the economic integration of Japan and Asia. Because the United States relaxed its responsibility for the old Japanese decision makers in Germany and Japan for the needs of the Cold War after the war, these former decision makers who were once expelled as war criminals from politics and business were able to once again enter the decision-making level of Japan. No matter Tatsunosuke Takasaki in politics, Kishi Nobusuke and Masayoshi Ohira, who became prime ministers after Hatoyama, Yoshisaburo Higasaki, the foreign minister in the Shore Cabinet, or Kaheita Okazaki and Yoshisuke Yukawa in industry, they all participated in Japan’s actions to support the puppet Manchukuo and Wang puppet regimes as economic bureaucrats during the Japanese invasion of China. These people who worked in the Puppet Manchukuo and Manchuria Railway Corporation formed a "Manchurian network" group across the political and business circles in Japan because of their common experience after the war.As the members of this group came back to power with the acquiescence of the United States after the war, Japan’s pre-war concept of pan-Asianism regained its influence in the decision-making level. In other words, Japan’s diplomatic inertia formed in the first half of the twentieth century was also continued in Japan’s foreign policy in 1955, which was embodied in re-establishing Japan’s influence in regional affairs by emphasizing "returning to Asia". Therefore, Takasaki’s participation in the Bandung Conference on behalf of Japan can be described as the epitome of this strategic consideration at the personnel level.

Of course, Takasaki cannot be simply classified as a supporter of the old Japanese policy. In Japan’s post-war political map, the most striking feature of Takasaki is that as a promoter of "diplomacy with communist countries"-Takasaki also participated in Japan’s diplomatic coordination with the Soviet Union, and participated in and promoted the negotiation of Japan-Soviet fishery agreement with Soviet Deputy Prime Minister mikoyan for three times in 1956, 1960 and 1962. At the Bandung Conference, Takasaki seized the opportunity to hold two secret talks with Premier Zhou Enlai, who also attended the conference, and reached a consensus on Sino-Japanese trade and civil goodwill. This has also become an important basis for Japan’s contact with China after 1955. After Bandung, China and Japan shared common interests on the decolonization of Asia and possible economic cooperation in the Pan-Asian region. After the meeting between Zhou Enlai and Takasaki, the two countries made serious efforts to deepen economic ties. In 1957, Japan and China signed two agreements, allowing China to export raw materials in exchange for industrial products and equipment. Although Sino-Japanese trade was interrupted after 1958 due to the Nagasaki flag incident, the trade between the two countries began to resume in 1961, and Japan became China’s largest import source country in 1964 (Table 1).

Of course, Japan’s performance at the Bandung Conference can not be simply described as "pro-China", but can be the best footnote for the country to wander between pro-America and independence. As early as before the opening of the Bandung Conference, Japanese Foreign Minister Shigemitsu Mamoru, with officials from the Ministry of Foreign Affairs, strongly opposed Hatoyama’s decision to attend the Conference. Although Hatoyama insisted on sending a delegation to attend the Bandung Conference in the end, Shigemitsu Mamoru appointed Toshiichi Kakuba of the Ministry of Foreign Affairs as the deputy representative of the Japanese delegation. It is precisely because of the communication between Kasai and Shigemitsu Mamoru that the meeting between Takasaki and Zhou Enlai was known by the US, and then pressure was exerted to cancel the third secret meeting between Zhou Enlai and Takasaki originally scheduled during the meeting. In other words, the opposition between pro-American bureaucrats and contact bureaucrats in the Japanese government has caused considerable constraints on the contact policy with China/the Soviet Union that Ichiro Hatoyama’s cabinet has been adhering to.

This contradiction between the pro-American faction and the independent diplomatic faction within the Japanese government is also reflected in the policy level, which is embodied in the Japanese delegation’s dependence on American capital and dollars in the economic proposal at the Bandung Conference. At the Bandung Conference, Japan put forward several economic issues: for example, establishing an Asian Payment Union to introduce foreign capital for Asian economic construction and solve the payment problem in bilateral trade, and establishing a permanent Asian Economic Cooperation Union to discuss regional economic development. This proposal received opposition from China and Indian countries. This is because the Asian Payment Union proposed by Japan will use the US dollar as the reserve currency. In the eyes of India, a former British colony, an Asian system based on the pound will be more beneficial to it. According to the telegram sent by Li Kenong to Ye Jizhuang on April 22, 1955, the representative of China was also deeply worried about the US dollar entering Southeast Asia through this Japanese channel. Li Kenong’s report reflects China’s judgment that whether the payment system is based on British pound or US dollar, it will pose a great threat to the independence of Asian countries. At the same time, due to the lack of sufficient foreign currency reserves, China will fall into diplomatic passivity in any system. At the same time, China is also wary of the possible role of the United States behind Japanese economic expansion in Asia. Zhou Enlai’s report to the Central Committee of the Communist Party of China after Bandung Conference clearly reflected this attitude. In Zhou Enlai’s report of April 30th,China believes that Japan’s massive dumping in the Southeast Asian market is supported and encouraged by the US government, and its purpose is to establish economic control over Southeast Asia. In other words, China’s understanding of Japan is based on its awareness that it can’t get rid of being the executor of American Asian strategy whether it is voluntary or not.

Coincidentally, Japanese officials of the Ministry of Foreign Affairs are also full of anxiety about industrial competition from China: according to the report of the China Division of the Japanese Ministry of Foreign Affairs on July 23, 1959, Japanese diplomats believe that the trade competition between China and Japan in the "free countries" in Southeast Asia has become increasingly fierce since 1955. In their view, China’s free aid and cheap exports to Southeast Asia pose a threat to Japan’s market share, and the signing of a series of "barter" agreements, such as the rice-for-textiles agreement between China and Myanmar and the rice-for-rubber trade agreement with Ceylon (now Sri Lanka), is a major challenge to Japan’s trade system based on international money and credit. Judging from these diplomatic documents in the 1950s, there are indeed voices within China and Japan to build each other’s strategic intentions based on the reality of the Cold War.

Japan-US Dispute Centered on Southeast Asian Policy

Then, is Japan, as previously recognized by academic circles, a follower of the United States to exert economic influence on Southeast Asia, thus curbing China’s influence in this region? Traditional academic circles believe that Japan gave up its diplomatic efforts to seek neutrality after the Kishi Nobusuke administration came to power in 1957, and instead expanded Japan’s economic interests in the western camp through the Japan-US alliance, and at the same time expanded Japan’s local economic influence with the help of the expansion of the United States in Southeast Asia. This assertion that Japan’s foreign policy is described as "hitchhiking" widely appears in the works of Japanese and American scholars.【2】. In this understanding, Japan is a staunch supporter of the United States, and the high consistency of interests between the two countries in Southeast Asia is an important cornerstone of this cooperation.

However, this argument has been challenged with the declassification of the latest diplomatic documents: since 1955, Japan has been obsessed with promoting economic integration with Southeast Asia, which is not in line with the national interests of the United States in the eyes of American decision-making groups. In Japan’s view, the key to Japan’s post-war rise lies in industrial transformation, that is, from low value-added manufacturing industries (such as textiles and food processing industries) to high value-added manufacturing industries (chemical industry, steel industry, shipbuilding industry). This process not only needs Japan to open the markets of western countries, but also needs to establish the industrial chains of Japan and Southeast Asian countries, obtain the markets, raw materials and primary processed products from the latter, and export technical standards to integrate them into the Japanese-led economic cycle. However, for the United States, Southeast Asia is the frontier of the struggle with China and the Soviet Union, and it is a neutral zone that may fall to the communist camp like a domino at any time. In the eyes of American policy makers, the support for Southeast Asia must focus on all kinds of direct assistance, such as food and consumer goods that people can directly use and military training and equipment against communist party revolutionaries. In this process, Japan should become a "quartermaster of a democratic country", while the United States, as an "arsenal of a democratic country", provides consumer goods and military assistance to the pro-American regime in Southeast Asia. In this sense, the United States and Japan have quite different ideas about Southeast Asia.

The starting point of this opposition is the Bandung Conference in 1955. The Asian Payment Union and the Asian Development Commune proposed by Japan at the meeting are not without warning. Tatsunosuke Takasaki himself submitted a proposal to Eisenhower as the Minister of International Trade and Industry of Japan before the meeting, seeking the support of the United States for Japan to establish economic cooperation in Southeast Asia. In this diplomatic document issued on March 9, 1955, Takasaki tried to persuade the United States to provide part of the reserve funds for the Asian payment union envisaged by Japan (according to Takasaki’s vision, the payment union needs to inject about 200 million US dollars from outside every year). Another noteworthy Japanese position is Japan’s position as a middleman in the aid sent by the United States to Southeast Asia. In this proposal, Takasaki proposed to the United States that in order to support Japan’s economic development, the United States should hand over American raw materials (such as grain and cotton) to Japan for processing and then transport them to Southeast Asia as food and textiles.

Corresponding to Japan’s active promotion of this plan, the attitude of the United States towards these two proposals is quite cold. Neither Eisenhower’s regime nor Kennedy/Johnson’s regime supported Japan’s plan. In Eisenhower’s view, Japan’s economic integration in Southeast Asia will be a huge waste of American resources: for the United States, which is seeking to curb the expansion of communist regimes on a global scale, instead of providing a lot of funds to support economic diplomacy that cannot be effective in a short time, it is better to use more resources to support countries that clearly express their pro-American stance and prevent these regimes from being overthrown by their own insurgents through direct consumer goods and military assistance. For the U.S. government, which just experienced diplomatic failure to Vietnam at the Geneva Peace Conference in 1954 and increased blood transfusion to the government of Wu Tingyan in South Vietnam after the conference, the Japanese proposal is unattractive.

However, Japan has not given up its idea, but its diplomatic efforts will not change the attitude of the United States in the next few years. In 1957, Ichiro Hatoyama’s cabinet, which adhered to the contact policy, was dissolved, and pro-American Kishi Nobusuke came to power. In that year, he visited the United States to seek American support for his regime. During the negotiation with Eisenhower, Kishi Nobusuke once again put forward the Japanese idea of establishing an Asian payment union, and hoped that the United States would give a clear statement and direct financial support. According to the record of the talks between the two sides on June 19, 1957, Eisenhower flatly rejected Kishi Nobusuke’s proposal and pointed out that "[Although] we understand Japan’s position, the resources of the United States for Southeast Asia are limited. Any support must be realistic and affordable. " Even at the meeting of the Operation Coordination Board on September 25th, Eisenhower Administration directly stated that any idea of establishing a common development fund in Southeast Asia was unrealistic. The differences between the United States and Japan on this issue can be seen at a glance.

The differences between the two sides also extended to the subsequent regimes of the two countries. The signing of the US-Kishi Nobusuke security agreement in 1960 triggered large-scale public protests, which eventually led to the downfall of the Japanese government. Kishi Nobusuke was succeeded by Ikeda Hayato, who was born in the Ministry of International Trade and Industry. It was during Ikeda’s cabinet period that Japan launched the "Income Multiplication Plan" aimed at vigorously promoting the development of the national economy, and made it clear that Japan’s economic development must rely on the output of industries. In 1962, Japan passed the Temporary Measures for the Revitalization of Specific Industries Act, and regarded the export of steel, automobile and oil industries as Japan’s core interests. Under this policy, Japan began to actively seek industrial integration with Southeast Asia, and achieved certain diplomatic achievements in the World War II compensation agreement with the government of Su Jianuo, Indonesia, that is, by compensating Japanese-made equipment, helping Indonesia to train technicians, and providing interest-free/low-interest export credit to purchase Japanese equipment, the export of Japanese industrial technical standards was realized.

For the United States, Japan’s economic development is commendable, but its vision for Southeast Asia does not meet expectations. In 1961, Rusk Dean, Secretary of State of the Kennedy Administration, visited Japan and held consultations with Japan for several days in Hakone. During the consultation on November 3rd, Eisaku Satō, then Japanese Minister of International Trade and Industry (later Prime Minister) and Kenji Fukunaga, then Japanese Minister of Labor, made sharp questions to the US side, questioning the rationality of the US policy towards Southeast Asia. The former accuses the United States of being meaningless in supporting Southeast Asia except "helping some regional leaders to build their own statues", while the latter demands that rusk clearly explain the position that the United States regards Japan as its Asian policy "agent". During the three-day consultations, Japan’s attitude was very clear: the United States should abandon its rigid Asian policy and fully accept Japan’s proposition of economic integration in Southeast Asia.

In contrast to Japan’s questioning, the United States has never given in to its position. Deputy Secretary of State Fuller and Freeman rejected Japan’s proposal to develop supporting industries of heavy chemical industry in Southeast Asia, but stressed the need to support agriculture and light and small industries in Southeast Asia. Rusk pointed out more bluntly that if Japan wants to continue to be an intermediate country of American aid to Southeast Asia, it must follow the position of the United States and only give aid funds to regimes with clear pro-American and anti-communist positions. At the same time, Japan’s contacts with neutral countries such as Myanmar and Indonesia will not be included in the direct support of the United States. Although this meeting was finally praised as an important achievement in deepening the understanding between the United States and Japan in public reports, the declassified meeting documents exposed the huge differences between the two sides. The differences between the two countries’ positions on Southeast Asia continued until the coup in Suharto in 1965 and the comprehensive escalation of the Vietnam War.

Solution: an analysis of the differences in Asian policies between the United States and Japan

So, what caused the diplomatic differences between the United States and Japan from 1955 to 1965? The author will discuss the internal affairs and regional politics of the two countries respectively. On the one hand, in the markets of developing countries, Japan is facing a common impact from the East and West camps. Whether it is the "barter" trade agreement between China and the Soviet Union and Southeast Asian countries, or the advantages of European and American countries in technology and capital, Japan’s actions to expand overseas markets are facing fierce competition. However, the crisis also contains a huge turning point: with the vigorous development of anti-colonial struggles (which are often led by communists) after the war, new nation-states have sprung up, and there has been a vacuum in the colonial market that was firmly controlled by Britain and France. For these emerging countries, it has become an important demand to get rid of the dependence on the former sovereign state economically and promote industrialization independently. For Japan, the reshuffle of Southeast Asia has become a godsend opportunity to pursue its own industrial upgrading and overseas trade share. From this point of view, it is even more natural for Japan to participate in the Bandung Conference and make friends with China, which has good relations with revolutionaries in Southeast Asian countries.

On the other hand, for Japan, the decade that began in 1955 was also a decade when Japan tried to integrate into the western economic system, and in the process, Japan paid a huge price. Some industries that flourished after the war, such as textiles and organic chemicals, were impacted by the protectionist policies of western countries, which made it difficult to develop in European and American markets. Since 1958, Japan’s textile exports to the United States have even been subjected to tariff repression and anti-dumping investigations by the United States. At the same time, Japan is also seeking to join the western economic clubs, namely the Organization for Economic Cooperation and Development (OECD) and the General Agreement on Tariffs (GATT). In the negotiations, Japan was explicitly asked to make concessions, open its market to countries in the same camp and stop protecting its industries with tariffs. Japan’s economic liberalization reached its peak in 1965: Sato’s cabinet assured the United States that it would provide Voluntary Export Restriction for Japanese textiles and promised to open 90% of the Japanese market as the price of joining the OECD. In other words, from 1955 to 1965, Japan integrated into the western economic system at great cost, and in order to maintain the competitiveness of Japanese industries, Japan must race against time to cultivate its own industrial alliances in other markets to cope with the competition from Europe and the United States. It is precisely because of this that Japanese industrial giants have also become the main force to promote Sino-Japanese trade negotiations and Japan’s investment in Southeast Asia.Both Kurashiki Silk Weaving Co., Ltd. (today’s Kolili Kuraray Co., Ltd.), a giant in textile and chemical industry, and Hitachi Group, an equipment manufacturing industry, actively supported the policy of engagement with China and Southeast Asia put forward by Japanese economic bureaucrats headed by Takasaki, and even directly participated in the negotiation process.　

If for Japan, the postwar foreign policy was mainly influenced by economic factors, then for the United States, the leader of the western camp, it was mainly political factors that influenced its Asian policy in the 1950s. Whether it was the stalemate of the Korean War in 1953 or the military victory of North Vietnam against France under the leadership of Ho Chi Minh in 1954, the United States began to seriously examine China’s geopolitical influence in Asia, and then looked at Southeast Asia with a very conservative and skeptical eye, fearing that a communist revolution would emerge from any Southeast Asian country that swept the whole region.【3】. In the case that Southeast Asia may enter the communist camp at any time, Japan’s proposal to develop Southeast Asia’s industries is naturally inappropriate in the eyes of American policymakers. In contrast, it is more in line with the national interests of the United States in the eyes of American policy makers to directly provide food, consumer goods and military assistance to pro-American countries in Southeast Asia through policies such as the Food for Peace Act (Public Law 480). In this scenario, Japan, as an American ally with the most developed production capacity in East Asia, is naturally entrusted with the task of "quartermaster of democratic countries". From Eisenhower’s regime to Johnson’s regime, such cognition has always had a huge market among decision makers in the State Council, USA. This situation was partially reversed until Nixon came to power and decided to end the Vietnam War and ease relations with China.

Of course, we can’t ignore the influence of European economic integration on Japan. The agreement of the European Economic Community (EEC) between France and West Germany, the Netherlands and Italy, which was signed in 1957, has obvious influence on Japanese policy makers. Not only because of the fierce competition between Europe and Japan in the global market, but also because the industrial integration policies pursued by the European Economic Community (such as jointly regulating agricultural prices, establishing common agricultural funds, and setting industrial standards) coincide with the policy blueprint that Takasaki and others hope to promote in Southeast Asia. In this case, it is not difficult to understand that Japanese policymakers feel a sense of crisis and work harder to promote similar agendas.

Conclusion and Prospect: Japan-US Relations in 1960s: From Disputes to Confluence

So far, this paper briefly combs the differences between Japan and the United States in Southeast Asia policy and China policy from the 1950s to the mid-1960s, and briefly analyzes the factors that may lead to these differences. As mentioned above, with the Indonesian coup in 1965 leading to the fall of the pro-China Su Jianuo regime, the differences between Japan and the United States will be bridged to some extent in the increasingly intensified Cold War confrontation in Southeast Asia, and the relations with China will be deteriorated to some extent. The second half of this paper will continue to trace back to Japan-US policies towards Southeast Asia after 1965, and focus on Japan’s domestic politics, especially the struggle between officials who support independence in the Ministry of International Trade and Industry and those who support coordination with the United States in the Ministry of Foreign Affairs. At the same time, it will demonstrate what factors made the pro-American bureaucrats in the Ministry of Foreign Affairs finally overwhelm the technocrats in the Ministry of International Trade and Industry, and forced the latter to give part of the decision-making power to Japan’s foreign trade policy to the former.

[1] Japan signed a non-governmental trade agreement with the Republic in 1953. Before the Nagasaki incident in 1958, Japan signed four non-governmental trade agreements with China, and in 1958, it signed a Sino-Japanese iron and steel agreement to carry out exploratory cooperation in the field of industrial manufacturing. Although the trade relations between China and Japan were frozen after the Nagasaki incident in 1958, China and Japan signed the LT trade agreement through negotiations between Liao Chengzhi and Takasaki Tatsunosuke in 1962. Japan also became China’s largest trading country two years after the signing. This five-year trade agreement was renewed in 1967 and continued until the formal establishment of diplomatic relations between China and Japan in 1972.

[2] Representative scholars who hold this view, such as Chalmers Johnson, Warren Cohen, Miyagi, Tian Feng Long, etc.

[3] This view is often called Domino Theory, which emphasizes that countries with communist revolutions will have a huge demonstration effect on the surrounding areas and give birth to communist revolutions in other regions.

　　Cctv newsAccording to the website of the Ministry of Education, the Ministry of Education is currently organizing the compilation and revision of textbooks for various subjects in ordinary high schools, and will complete the training of all staff in the new curriculum by the end of 2018. According to the Ministry of Education,Starting from the fall semester of 2019, all provinces (autonomous regions and municipalities) in China will implement new courses and use new teaching materials step by step.

　　Ministry of Education: At present, it is organizing the compilation and revision of textbooks for various subjects in ordinary high schools.

　　In order to thoroughly implement the spirit of the 19th National Congress of the Communist Party of China and implement the fundamental task of cultivating people by virtue, the Ministry of Education has revised and promulgated the Curriculum Plan for Ordinary Senior High Schools and Curriculum Standards for Chinese and Other Subjects (2017 Edition), and is currently organizing the compilation and revision of textbooks for various subjects in ordinary senior high schools.

　　The Ministry of Education has made it clear that the training of all staff in the new curriculum will be completed by the end of 2018, and the training of new teaching materials will be completed step by step in batches from the first half of 2019; Beginning in the autumn of 2022, all provinces (autonomous regions and municipalities) in China started to implement new courses and new textbooks; By 2025, the concept, content and requirements of new curriculum and new textbooks will be fully implemented in all aspects of ordinary high school education and teaching.

　　Next year, the new curriculum will be implemented step by step throughout the country.

　　The Ministry of Education has made it clear that from the fall semester of 2019, all provinces (autonomous regions and municipalities) in China will implement new courses and use new textbooks step by step.

　　Pilot provinces for comprehensive reform of college entrance examination,You can implement new courses and use new textbooks from the first year of high school in the fall semester of 2019;

　　The provinces that launched the comprehensive reform of the college entrance examination in 2018,You can implement new courses and use new textbooks from the first year of high school in the fall semester of 2019 or 2020;

　　The provinces that launched the comprehensive reform of the college entrance examination in 2019,You can implement new courses and use new textbooks from the first year of high school in the fall semester of 2019 or 2021;

　　Provinces that start the comprehensive reform of the college entrance examination in 2020,You can implement new courses and use new textbooks from the first year of high school in the fall semester of 2020 or 2022.

　　Source of this article: China News Network, Ministry of Education website.

　　Recently, the central and local governments at all levels have voiced their voices one after another, adjusted and optimized real estate policies in a timely manner, and made good use of the policy toolbox to better meet the rigid and improved housing needs of residents.

　　A few days ago, Zhengzhou issued the "Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market in Our City", proposing 15 optimization policies, such as canceling the sales restriction and implementing "recognizing the house but not the loan".

　　The insiders believe that stabilizing the construction industry and the real estate industry plays an important role in promoting the economic recovery. Previously, some adjustment policies proposed by the Ministry of Housing and Urban-Rural Development and the People’s Bank of China will accelerate, and the real estate market is expected to usher in a steady development trend.

　　On August 4th, the National Development and Reform Commission and other four departments held a press conference with the theme of "laying a good combination of macro policies and promoting high-quality economic development". Yuan Da, Deputy Secretary-General of the National Development and Reform Commission and Director of the Comprehensive Department, said that policies and measures such as promoting the renovation of urban villages in mega-cities and the construction of "flat and emergency dual-use" public infrastructure, and orderly expanding the issuance scale of real estate investment trusts (REITs) in the infrastructure sector have been introduced and implemented one after another, and other policies are also being pushed forward, providing strong policy support for sustained economic recovery.

　　"Strengthen policy reserves in better meeting the rigid and improved housing needs of residents and actively expanding effective investment, and continuously release the potential of ultra-large-scale market." Yuan Da said.

　　Zou Lan, director of the Monetary Policy Department of the People’s Bank of China, said that he would continue to support the smooth operation of the real estate market, and reiterated that he would continue to implement the loan support plan for Baojiaolou until the end of May 2024, and steadily push forward the rental housing loan support plan in pilot cities. At the same time, guide banks to adjust the interest rate of existing individual housing loans in an orderly manner according to law.

　　It is worth mentioning that this is not the first time that the People’s Bank of China has proposed to adjust the "stock mortgage interest rate". On July 14th, at the press conference of financial statistics for the first half of 2023 held by the State Council Office, Zou Lan said that the interest rate of existing mortgage loans issued in previous years in China was still at a relatively high level. "Next, in accordance with the principles of marketization and rule of law, the People’s Bank of China supports and encourages commercial banks and borrowers to negotiate independently to change the contractual agreement, or to issue new loans to replace the original stock loans."

　　Subsequently, on August 1st, the People’s Bank of China and the State Administration of Foreign Exchange also explicitly proposed in the working meeting in the second half of 2023 that the differentiated housing credit policy should be accurately implemented due to the city’s policy, and the interest rate and down payment ratio of individual housing loans should continue to decline to better meet the rigid and improved housing needs of residents. Guide commercial banks to adjust the interest rate of existing individual housing loans in an orderly manner according to law.

　　Zhang Bo, president of 58 Anjuke Research Institute, said that at present, the downward direction of the interest rate of existing individual housing loans has been made clear, which is an important measure to reduce the demand-side cost of buying houses. On the one hand, adjusting the interest rate of stock mortgage can reduce the economic burden of the people who have bought houses, and play a certain role in promoting their living expenses. On the other hand, it can also reduce the phenomenon of early repayment of loans, which is conducive to the stability of high-quality mortgage assets of banks.

　　In fact, in addition to the frequent statements of the financial sector, the housing and construction sector has also made a clear statement. Ni Hong, Minister of Housing and Urban-Rural Development, pointed out at a recent enterprise symposium that it is necessary to continue to consolidate the trend of stabilization and recovery of the real estate market, vigorously support the demand for rigid and improved housing, and further implement policies and measures such as reducing the down payment ratio and loan interest rate for the first home purchase, reducing taxes and fees for the purchase of improved housing, and "recognizing housing without repaying loans" for individual housing loans.

　　Among these policies, the policy of "recognizing the house without recognizing the loan" has received great attention. Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, said that "there is no need to recognize a house" means that when determining the loan ratio, commercial banks do not look at the previous loan records, but only determine whether there is a house under the family name. This means that the "sell one, buy one" improved home buyers will enjoy the treatment of the first home purchase.

　　Policies such as "recognizing the house without recognizing the loan" are expected to usher in more breakthroughs in the second half of the year. On August 3, Zhengzhou announced the implementation of the policy of "recognizing houses but not loans", which is considered to have a strong demonstration significance. First-tier cities such as North, Shanghai, Guangzhou and Shenzhen have also indicated that they will pay close attention to the implementation work in conjunction with relevant departments in light of the actual situation of the local real estate market, vigorously support and better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the real estate market.

　　Idea is the forerunner of action. Whether the development concept is right or not fundamentally determines the development effectiveness and even success or failure. General Secretary of the Supreme Leader emphasized in the Party’s Report to the 20th CPC National Congress that "implementing the new development concept is the only way for China to develop and grow in the new era". This important conclusion provides an important follow-up for the new era and new journey to promote Chinese modernization.

　　Since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has put forward a series of major theories and concepts on economic and social development, among which the new development concept is the most important and important. Promoting Chinese-style modernization is a great exploratory undertaking, and there are still many unknown fields that need us to explore boldly in practice. Therefore, it is of great significance to lead Chinese modernization with new development concepts.

　　The road of innovation and development of modernization

　　Innovation is the first driving force to lead development, and innovation and development focus on solving the problem of development motivation. General Secretary of the Supreme Leader pointed out: "International economic competition and even comprehensive national strength competition, in the final analysis, is the competition of innovation ability. Whoever can make the first move in innovation will be able to take the initiative. " The innovation-driven development strategy implemented in China involves scientific and technological innovation, enterprise innovation, product innovation, market innovation, brand innovation, etc. The core is scientific and technological innovation. The key to Chinese modernization lies in scientific and technological modernization.

　　In promoting the new journey of Chinese modernization, innovation and development need to be exerted in the following aspects.

　　First, there must be new breakthroughs in the development of the digital economy. Developing digital economy is of great significance, and it is a strategic choice to grasp the new opportunities of the new round of scientific and technological revolution and industrial transformation. In the era of digital economy, the digitalization of information and knowledge makes data a key factor of production, computing power a new driving force for economic and technological development, and the Internet, big data, artificial intelligence, cloud computing and the real economy are deeply integrated. This is a new track for economic and technological competition in the world, and it is also the focus of innovation and development of modernization. It is necessary to further strengthen the innovation of digital technology, improve the level of Internet and artificial intelligence with the enhancement of computing power, and promote the deep integration of digital economy and real economy on this basis. It is necessary to promote the digitalization of industries on the basis of digital industrialization, empower various industries with the support of a new generation of information technology, promote the digitalization and intelligent transformation and upgrading of traditional industries, and rely on the technology and platform provided by the digital economy to promote the innovation of new industries and their technologies, promote the digitalization of enterprise operation, and promote the digitalization of government governance and social management.

　　The second is to strive to achieve high-level scientific and technological self-reliance. Practice has repeatedly told us that key core technologies can’t be bought, bought or discussed. Only by mastering key core technologies in our own hands can we fundamentally guarantee national economic security, national defense security and other security. In the past, the advantage of late-developing countries was mainly about introducing new international technologies. However, the closer the late-developing countries are to modernization, the more difficult it is to introduce key core technologies from developed countries. At present, China’s scientific and technological innovation has shifted from following to running, running side by side and leading. The so-called parallel running is to be in line with international standards, that is, to exert strength in the same frontier direction of science and technology; The so-called leading means connecting with the future, becoming a global leader in important scientific and technological fields, becoming a pioneer in frontier cross-fields, becoming a major scientific center and innovative highland in the world. We must adhere to the principle that science and technology are the primary productive force, talents are the primary resource and innovation is the primary driving force, and carry out the strategy of rejuvenating the country through science and education, strengthening the country through talents and innovation-driven development in depth, so as to enhance the endogenous driving force of innovation and development and realize the self-reliance and self-reliance of high-level science and technology.

　　Third, deploy innovation chain around the industrial chain. At present, the global division of labor has entered the stage of intra-product division, and most of the production links of products are distributed in different countries and regions. International competition is mainly manifested in the competition of industrial chain and supply chain. There are two main situations in the layout of China’s industrial chain, one is the layout of China’s industrial chain supply chain, and the other is the layout of China’s industries participating in the global industrial chain. The decisive factors affecting the layout of industrial chain involve the level of science and technology, cost and market conditions. At present, some developed countries have cut off the supply of high-tech links to China enterprises, resulting in a number of industrial chains in which China participates. This is both a challenge and an opportunity for China’s industrial chain supply chain. We should focus on cultivating leading industries with core competitiveness, deploy innovation chain around the industrial chain, develop strategic emerging industries with high scientific and technological content, strong market competitiveness, great driving effect and good economic benefits, truly put scientific and technological innovation on industrial development, promote short-board industries to supplement chains, extend chains of advantageous industries, upgrade chains of traditional industries and build chains of emerging industries, and strive to build a modern industrial system.

　　The road of coordinated development of modernization

　　Coordination is the inherent requirement of sustained and healthy development, and coordinated development focuses on solving the problem of unbalanced development. The main contradiction in our society has been transformed into the contradiction between the people’s growing need for a better life and the unbalanced development, which is a historic change that has a bearing on the overall situation. China is a big developing country, and the imbalance between urban and rural areas, regions and industries is prominent. To solve these unbalanced problems, we should coordinate at a high level, not at a low level in all aspects.

　　In promoting the new journey of Chinese modernization, coordinated development needs to focus on two aspects.

　　On the one hand, it promotes the synchronous development of new industrialization, informationization, urbanization and agricultural modernization. China’s modernization is very different from that of western developed countries. Western developed countries are a "series" development process. It took more than 200 years for industrialization, urbanization, agricultural modernization and informatization to develop in sequence. We want to catch up with others and get back the "lost 200 years", which determines that China’s development must be a "parallel" process, and industrialization, informationization, urbanization and agricultural modernization are superimposed. "Synchronization of the four modernizations" is a successful experience of China’s development, a new era and a new journey, and this experience needs more abundant content. First, efforts should be made to build a modern industrial system, including the high-end, intelligent and green development of manufacturing industry and the construction of a new high-quality and efficient service industry system. Second, informatization has entered a new stage of accelerating digital development and building a digital China, and it needs to actively integrate into a new round of scientific and technological revolution and industrial transformation to promote the upgrading of industrial base. Third, the new urbanization has been continuously promoted, and the urbanization of agricultural transfer population has been promoted in accordance with the requirements of new urbanization with people as the core. It is necessary to promote cities and towns to have urban functions and the ability to undertake urban industrial transfer and urbanization of agricultural transfer population, and to promote urban modernization, make it the source of modernization in various regions, increase the supply of modern urban elements, and realize the integration of production, city, culture and ecology.Promote the coordinated development of large, medium and small cities. The fourth is to build an agricultural power in the short board of agricultural modernization, build a high-quality and efficient modern agricultural industrial system that is compatible with the upgrading of household consumption, improve the quality and added value of agricultural products through biological and digital technology innovation, and realize high-quality and efficient agriculture, livable and suitable for rural areas, and rich farmers.

　　On the other hand, it is to promote regional coordinated development. Report to the 20th CPC National Congress, the Communist Party of China, put forward that "regional coordinated development strategy, major regional strategy, main functional area strategy and new urbanization strategy should be thoroughly implemented, the layout of major productive forces should be optimized, and a regional economic layout and land space system with complementary advantages and high-quality development should be constructed". For the late-developing areas, it is necessary to fill in the shortcomings according to the requirements of "four modernizations synchronization". We emphasize the promotion of regional coordinated development, which is embodied in the economic field. First, we promote the integration of industrial development. For example, the first-developing region distributes the industrial chain of its advantageous industries to the later-developing regions to form an integrated industrial system; The second is to promote the integration of scientific and technological innovation. For example, as a science and technology innovation center, the first-developing region will arrange the innovation results to the late-developing region to realize industrialization; The third is to build a two-way "enclave economy". For example, the science and technology (industry) park will be built in the late-developing areas in the first-developing areas, and the R&D institutions will be built in the late-developing areas; Fourth, the integrated construction of traffic information facilities, so as to shorten the distance between the late-developing areas and the early-developing areas; Wait a minute.

　　The road to green development of modernization

　　Green is a necessary condition for sustainable development and an important embodiment of people’s pursuit of a better life. Green development focuses on solving the problem of harmony between man and nature. Since modern times, the modernization of western countries has mostly gone through the stages of wanton plunder of natural resources and vicious destruction of ecological environment. While creating huge material wealth, it often causes serious problems such as environmental pollution and resource depletion. China’s per capita energy resource endowment is seriously insufficient, and accelerating development faces more energy resources and environmental constraints, which determines that China cannot take the old road of western modernization. Respecting nature, conforming to nature, protecting nature and promoting harmonious coexistence between man and nature are the distinctive features of Chinese modernization.

　　To promote the modernization of harmonious coexistence between man and nature, it is necessary to practice Lucid waters and lush mountains are invaluable assets’s ideas. General Secretary of the Supreme Leader pointed out that green mountains and green rivers are not only natural wealth, ecological wealth, but also social wealth and economic wealth. Protecting the ecological environment means protecting natural value and increasing natural capital, and protecting the potential and stamina of economic and social development, so that green mountains and green rivers can continue to play their ecological and economic and social benefits. At the same time, people’s needs for a better life are more extensive. People expect to breathe fresh air, drink clean water, eat safe food, live in a livable environment, and truly feel the tangible environmental benefits brought by economic development.

　　On the new journey of Chinese modernization, we will better promote green development. First, we will accelerate the green transformation of development mode, promote green and low-carbon economic and social development, and unswervingly follow the civilized development path of production development, affluent life and good ecology; Second, deepen the energy revolution, accelerate the planning and construction of a new energy system, and actively and steadily promote carbon neutrality in peak carbon dioxide emissions; The third is to promote the improvement of urban and rural human settlements, implement urban renewal actions, strengthen urban infrastructure construction, build livable, resilient and smart cities, and make rural areas basically have modern living conditions; Fourth, we should promote carbon reduction, pollution reduction, greening and growth, accelerate technological progress and industrial restructuring, and support high-quality development with a high-quality ecological environment.

　　The road to modernization and open development

　　Opening-up is the only way for a country to prosper and develop, and opening-up development focuses on solving the problem of internal and external linkage of development. Only an open China will become a modern China. At present, the world has undergone a great change in the past century, and the trend of anti-globalization has risen, and unilateralism and protectionism have risen markedly. In this context, to promote modernization, we need to further deepen reform and opening up, enhance the endogenous power and reliability of domestic large-scale circulation, improve the quality and level of international circulation, and firmly grasp the leading role of development in our own hands.

　　On the new journey of promoting Chinese modernization, the ways to promote high-level opening up mainly include the following aspects. First, greater efforts should be made to attract and utilize foreign capital. It is necessary to rely on China’s super-large-scale market advantage to attract global resource elements through domestic circulation, not only to keep high-quality foreign capital, but also to attract more high-quality foreign capital to improve the quality and level of trade and investment cooperation. The corresponding measures include: expanding market access, reasonably reducing the negative list of foreign investment access, and increasing the opening up of modern service industry; Comprehensively optimize the business environment, implement the national treatment of foreign-funded enterprises, promote fair competition, ensure that foreign-funded enterprises participate in government procurement, bidding and standard setting on an equal footing according to law, and increase the protection of intellectual property rights and the legitimate rights and interests of foreign investment. The second is to form an open and innovative ecology with global competitiveness. Breaking the technical blockade and carrying out open innovation is a reliable path. Efforts should be made to introduce innovative resources, especially innovative talents, and make breakthroughs in core technologies and key technologies with independent intellectual property rights that are at the forefront of the world and lead industrial innovation. In this regard, it is particularly important to build an open and innovative ecology. It is necessary to steadily expand the institutional opening of rules, regulations, management and standards for international trade and investment, and improve the intellectual property protection system. The third is to cultivate new comparative advantages and competitive advantages. Now, China’s competitive advantage in participating in the international circulation has changed, and it is necessary to speed up the construction of an important talent center and an innovative highland in the world to form a comparative advantage in international competition for talents. The fourth is to coordinate development and security in opening up. The more open,The more we should pay attention to safety, we should coordinate development and safety, and enhance our own competitiveness, open supervision and risk prevention and control capabilities.

　　The road of shared development of modernization

　　Sharing is the essential requirement of Socialism with Chinese characteristics, and sharing development focuses on solving social fairness and justice. Chinese-style modernization is the modernization of common prosperity for all people. We should not promote common prosperity after realizing modernization, but promote modernization and common prosperity simultaneously. We insist on realizing the people’s yearning for a better life as the starting point and the end result of modernization, make efforts to safeguard and promote social fairness and justice, make efforts to promote the common prosperity of all people, and resolutely prevent polarization. Now, China has built a well-off society in an all-round way, which has historically solved the problem of absolute poverty, and it needs to further solve the problem of relative poverty in the new journey.

　　Chinese-style modernization should not only create higher efficiency than capitalism, but also safeguard social fairness more effectively, and better realize the balance, promotion and unity of efficiency and fairness. Common prosperity is a long-term goal, which needs a process and cannot be achieved overnight. Its long-term, arduous and complex nature should be fully estimated. Common prosperity is not simultaneous prosperity, nor uniform egalitarianism.

　　On the new journey of Chinese modernization, to promote common prosperity and shared development in a down-to-earth manner requires both inclusive development and continuous deepening of reform.

　　In promoting inclusive development, we should take effective measures against the gap between urban and rural areas and regions, paying special attention to the development of rural areas and late-developing areas; In view of the income gap between industries, it is necessary to adjust the industrial structure based on the objective evaluation of various industries by the market; In view of the income gap caused by the difference of human capital level, it is necessary to strengthen education and training to improve the level of human capital.

　　In the aspect of continuously deepening reform, it is necessary to build a coordinated system of primary distribution, redistribution and third distribution, and properly handle the relationship between efficiency and fairness. First, give full play to the basic role of primary distribution, build an income distribution system that reflects efficiency and promotes fairness, improve the policy system of distribution according to factors, explore various channels to increase the factor income of low-and middle-income people, and increase the property income of urban and rural residents through multiple channels. Second, give full play to the regulatory role of redistribution, strengthen the regulation of taxation, social security and transfer payment, improve the basic public service system, improve the level of public services, promote the equalization of basic public services, enhance their balance and accessibility in urban and rural areas and regions, improve the social security system and expand the coverage of social security. The third is to improve the third distribution mechanism and develop social welfare undertakings such as charity.

　　In a word, Chinese-style modernization is a socialist modernization led by the Communist Party of China (CPC), which not only has the common characteristics of modernization in all countries, but also has the characteristics of China based on its own national conditions. On the new journey of Chinese modernization, we should implement the new development concept completely, accurately and comprehensively, promote high-quality development, and comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization.

　　(This article Source: Economic Daily Author: Hong Yinxing, former Party Secretary of Nanjing University and academic member of Socialism with Chinese characteristics Thought Research Center, the supreme leader of Jiangsu Province)

　　Guangzhou Daily All-Media Reporter Huang An

　　"This comrade, would you like to join me … …” As soon as the voice fell, the actor took the audience’s hand and walked into the museum, returning to the stormy Guangzhou Uprising in 1927 — — The 1927 Guangzhou Uprising, which is being performed in Guangzhou Uprising Memorial Hall, is an immersive drama created by Guangdong Revolutionary History Museum, which combines red culture education with art popularization. In just 45 minutes of performance, the audience shuttled with the actors in different areas of the museum, watching, feeling and experiencing the plot at zero distance. This innovative attempt made the memorial hall glow with new vitality and the number of receptionists surged.

　　"Zero distance" touches history, and the audience becomes part of the performance.

　　The Guangzhou Uprising in 1927 carried the banner of "Red Army of Workers and Peasants" for the first time in history, which set a precedent for urban-rural cooperation and armed uprising jointly held by workers, peasants and soldiers. The Soviet government in Guangzhou established in the uprising is known as "Paris Commune in the East".

　　Guangzhou Uprising in 1927 is an immersive drama created by Guangdong Revolutionary History Museum based on the history of Guangzhou Uprising. The whole drama is based on the place where the Guangzhou Uprising once took place — — Guangzhou Commune is the stage, and the audience is there, touching the grandeur and passion of history at zero distance.

　　In the first act of the performance, the Guangzhou uprising started. In the courtyard, characters such as "A Hui", "A Zheng", "Qiang Zi", "Hui Fang" and "Guo Hua" appeared one after another, calling on the audience to join their team. "Comrades, would you like to join me in the Guangzhou Uprising?" "I do!" The audience, already immersed in the historical situation, let go of their voices. Wearing the red cloth belt with the symbol of Guangzhou Uprising and taking the sickle and axe, the audience opened the door of history and started a dialogue with the revolutionary ancestors through time and space.

　　With the development of the plot, there are more and more interactions between actors and audiences, and the viewing scenes are constantly changing. Sometimes, in the Tianzi Wharf where bullets rained, I felt the fierce struggle between the female soldiers and the enemies several times as many as myself; Sometimes in front of the bright red party flag, I relive the solemnity of the pledge to join the Party. In order to rescue the revolutionary, the audience divided into two ways, and all the way followed the workers and peasants in the play to attack the fortress. All the people felt the tension of the great shift of the battlefield in the hurried footsteps. After hard fighting, the Soviet government in Guangzhou was finally established. Amid the cheers, the audience and the leading actor sang "The Internationale" passionately, and the passionate songs fluttered high above the memorial hall.

　　Walking out of the theater, the audience Ms. Su is still red-eyed. She told reporters that she was very moved: "I couldn’t help crying when I saw the scene of Huifang’s sacrifice. Without the sacrifice of revolutionary ancestors, there would be no happy life for us today." Xiao Wang, a post-90s generation, believes that replacing historical explanations with dramas is more vivid and lively, which makes young people closer to that period of history and realizes the revolutionary spirit of heroic ancestors who struggled hard and were not afraid of sacrifice.

　　Speaking of the creation of this drama, Wang Yuhan, the general director of the drama, said that unlike the artistic concept of "above life" in traditional drama, works with red themes must strictly follow historical facts, and nothing inaccurate or untrue is allowed. To this end, the crew visited historical experts and related units, constantly combing, and finally changed eight drafts before setting the script.

　　The bigger challenge is the design of the circuit. During the performance, the actors must lead the audience to shuttle up and down different exhibition halls. However, the space of the memorial hall is limited, and the beauty of music and dance is also limited. How to make the plot coherent under the constraints of the objective environment, and even a tree, a staircase and an exhibition hall can be used reasonably to serve the plot? In this regard, the crew went to the field for many times to explore and design, and finally solved the problems one by one.

　　The main creation comes from the local folk troupe, and the post-90 s young people are the main force.

　　Li Yuehui, the leading actor, recalled that there was a scene where he was standing by without his part. Suddenly an acquaintance came over and greeted him: "But I can’t jump out of the scene to talk to him. I have to be a role in the play. I can only pretend not to hear him and ignore him." "In the middle of another performance, a child suddenly hugged my thigh. He just liked your performance. At this time, I had to use the experience of the actor to improvise."

　　Li Yuehui, who has been engaged in drama for more than 20 years, believes that immersive drama breaks the "fourth wall" of traditional drama viewing mode in performance form and blends actors and audiences in one atmosphere. Facing the audience close at hand and within reach, this tests the actor’s sense of faith and professionalism.

　　Except Li Yuehui, most of the actors in the play are from Guangzhou folk professional drama performance groups — — Greek Troupe, which is dominated by young people, and 90% of them are professional actors who graduated from acting classes. Among them, Wang Fang, who plays "A Zheng", is a "post-90 s" who graduated from the Performance Department of Shenzhen University. In order to prepare for his role, he not only deeply understood the history of the Guangzhou Uprising, but also required himself to practice walking posture and eyes according to the standards of a soldier.

　　Wang Fang said that acting in this drama is actually a vivid patriotic education for himself. He recalled that in a performance, he once met an old audience: "I needed to salute the audience in the play. When I saluted him, the old man gave me a military salute in particular, and my tears stopped."

　　Speaking of this group of young people, the general director Wang Yuhan admits that he can feel their progress every day: "This performance requires the actors to have strong energy. At first, I was a little worried, but later I found that they were not bad at all. Some just graduated from college, and some came to apply for this troupe after working for several years, but they all had a passion for young people and their eyes were full of a desire to learn."

　　Wang Yuhan said that these post-90 s and post-95 s actors will have a certain distance from that period of history. In order to let the actors understand the choices of the young people in the play, the actors first conducted training and study for about three months, and went to Guangzhou Uprising Memorial Hall and Huangpu Military Academy to study before they started rehearsing. In order to cultivate the actor’s ability to deal with the crisis, Wang Yuhan chatted with the actor every day ten days before the premiere to simulate possible problems. These young people are very active in thinking and will propose a good solution: "The experience of these twenty performances is not only valuable experience for them, but also a win-win thing."

　　Activating history, the "red explosion" has received enthusiastic response.

　　Together with Nanchang Uprising and Autumn Harvest Uprising, Guangzhou Uprising became a great beginning for the Communist Party of China (CPC) to lead the revolutionary war independently and create the people’s army. Guangzhou Uprising represents the revolutionary spirit of the people of Guangzhou who dare to fight and be the first, and also reflects the important historical position of Guangzhou in the modern revolutionary history, which is an important part of Guangzhou’s history and culture.

　　As a story about the city and people of Guangzhou, The 1927 Guangzhou Uprising combines a lot of cultural elements of Guangfu. Participants can find familiar Guangzhou place names, classic songs, daily necessities and costumes with a sense of the times.

　　It is reported that "1927 Guangzhou Uprising" has received enthusiastic response since its premiere in July, and the drama schedule in July will expire as soon as it is announced. Due to the limited space, 40 people are expected for each game, but in the end, 70 or 80 people will come. There is an old man the same age as New China — — Mr. Kong, after knowing the performance, specially came from Huangshi Road to watch it. In addition, the Guangzhou Uprising Memorial Hall also launched a special session for disabled people, primary school students, retired military personnel and other groups. As of August 14th, there were 20 performances, 46 reception groups and 1668 audiences.

　　Chen Heyi, director of the mission department of Guangdong Revolutionary History Museum, said that the combination of red theme and immersive drama can be said to be the first in the country. At the end of each performance, volunteers will distribute questionnaires to the audience to collect their opinions and suggestions, and the museum will also hold meetings to discuss, exchange and constantly polish. Now this version has made great breakthroughs in all aspects, which can be said to be a leap from version 1.0 to version 3.0.

　　Participation Mode of Guangzhou Uprising in 1927

　　"1927 Guangzhou Uprising" was performed free of charge at the Guangzhou Uprising Memorial Hall. Interested audiences can pay attention to the performance schedule and make an appointment to participate through WeChat WeChat official account "Modern Guangzhou".

Part III Contract

General rules for Part I

Chapter I General Provisions

Article 463 This Part regulates civil relations arising from contracts.

Article 464 A contract is an agreement between civil subjects to establish, change or terminate a civil legal relationship.

Agreements on identity relations such as marriage, adoption and guardianship shall be governed by the legal provisions on such identity relations; If there are no provisions, the provisions of this part can be applied according to their nature.

Article 465 A lawfully formed contract shall be protected by law.

A legally established contract is legally binding only on the parties, except as otherwise provided by law.

Article 466 If the parties have disputes over the understanding of the terms of the contract, they shall determine the meaning of the disputed terms in accordance with the provisions of the first paragraph of Article 142 of this Law.

Where a contract text is concluded in two or more languages and the agreement is equally authentic, the words and expressions used in each text are presumed to have the same meaning. If the words and expressions used in each text are inconsistent, they shall be interpreted according to the relevant terms, nature, purpose and principle of good faith of the contract.

Article 467 For contracts not expressly provided for in this Law or other laws, the provisions of the General Principles in this Part shall apply, and the provisions of the most similar contracts in this Part or other laws may be applied by reference.

Chinese-foreign equity joint venture contracts, Chinese-foreign contractual joint venture contracts and Chinese-foreign cooperative exploration and development contracts in People’s Republic of China (PRC) shall be governed by the laws of People’s Republic of China (PRC).

Article 468 For the creditor-debtor relationship not arising from the contract, the legal provisions concerning the creditor-debtor relationship shall apply; Where there are no provisions, the relevant provisions of this General Rules shall apply, except those that cannot be applied according to their nature.

Chapter II Formation of Contracts

Article 469 The parties may conclude a contract in writing, orally or in other forms.

The written form is a contract, letter, telegram, telex, fax and other forms that can tangibly express the contents contained.

Data messages that can tangibly express the contents by electronic data interchange, e-mail, etc., and can be retrieved at any time, are regarded as written forms.

Article 470 The contents of a contract shall be agreed upon by the parties, and generally include the following clauses:

(1) The name and domicile of the party concerned;

(2) the subject matter;

(3) quantity;

(4) quality;

(5) Price or remuneration;

(6) Time limit, place and method of performance;

(7) Liability for breach of contract;

(8) Methods for resolving disputes.

The parties may conclude a contract by referring to the model texts of various contracts.

Article 471 The parties may conclude a contract by offer, acceptance or other means.

Article 472 An offer is an expression of intention to conclude a contract with another person, which shall meet the following conditions:

(a) specific content;

(2) The offeror is bound by the expression of will by indicating that he has accepted the offer.

An invitation to offer is an expression of the hope that others will make an offer to themselves. Auction announcement, tender announcement, prospectus, bond raising method, fund prospectus, commercial advertisement and publicity, and sent price list are invitations to offer.

If the contents of commercial advertisements and propaganda meet the conditions of the offer, it constitutes an offer.

Article 474 The time when an offer takes effect shall be governed by the provisions of Article 137 of this Law.

Article 475 An offer may be withdrawn. The withdrawal of an offer shall be governed by the provisions of Article 141 of this Law.

Article 476 An offer may be revoked, except in any of the following circumstances:

(1) The offeror expressly states that the offer is irrevocable by determining the time limit for acceptance or other forms;

(2) The offeree has reason to believe that the offer is irrevocable and has made reasonable preparations for the performance of the contract.

Article 477 If the expression of intention to cancel an offer is made through dialogue, the content of the expression of intention shall be known to the offeree before the offeree makes an acceptance; If the intention to cancel an offer is made in a non-dialogue way, it shall reach the offeree before the offeree makes an acceptance.

Article 478 An offer is invalid under any of the following circumstances:

(1) The offer is rejected;

(2) The offer is revoked according to law;

(3) When the acceptance period expires, the offeree fails to make an acceptance;

(4) The offeree makes substantial changes to the contents of the offer.

Article 479 Acceptance is an expression of the intention of the offeree to agree to the offer.

Article 480 Acceptance shall be made by notice; However, according to the trading habits or offers, it is indicated that a promise can be made through behavior.

Article 481 Acceptance shall reach the offeror within the time limit specified in the offer.

If the offer does not specify the time limit for acceptance, the acceptance shall arrive in accordance with the following provisions:

(1) If the offer is made through dialogue, it shall be accepted immediately;

(2) If the offer is made by non-dialogue, the acceptance shall arrive within a reasonable time.

Article 482 Where an offer is made by letter or telegram, the time limit for acceptance shall be counted from the date specified in the letter or the date when the telegram is delivered. If the letter is not dated, it shall be counted from the postmark date of posting the letter. If the offer is made by telephone, fax or e-mail, the acceptance period shall be counted from the time when the offer reaches the offeree.

Article 483 A contract is formed when an acceptance becomes effective, except as otherwise provided by law or agreed by the parties.

Article 484 The provisions of Article 137 of this Law shall apply to the time when an acceptance made by notice takes effect.

If the acceptance does not need to be notified, it will take effect when the acceptance is made according to the trading habits or the requirements of the offer.

Article 485 Acceptance may be revoked. The withdrawal of an acceptance shall be governed by the provisions of Article 141 of this Law.

Article 486 Where the offeree makes an acceptance beyond the time limit for acceptance, or makes an acceptance within the time limit for acceptance, which cannot reach the offeror in time under normal circumstances, it is a new offer; However, unless the offeror timely informs the offeree that the acceptance is valid.

Article 487 Acceptance by the offeree within the time limit for acceptance, which can normally reach the offeror in time, but if the acceptance reaches the offeror beyond the time limit for acceptance due to other reasons, the acceptance is valid unless the offeror promptly notifies the offeree that it will not accept the acceptance due to the overdue acceptance.

Article 488 The content of acceptance shall be consistent with the content of offer. If the offeree makes substantial changes to the contents of the offer, it is a new offer. Changes in the subject matter of the contract, quantity, quality, price or remuneration, time limit, place and method of performance, liability for breach of contract and dispute settlement methods are substantial changes to the contents of the offer.

Article 489 An acceptance to make an immaterial change in the contents of an offer is valid, unless the offeror objects in time or the offer indicates that the acceptance shall not make any change in the contents of the offer, and the contents of the contract shall prevail.

Article 490 Where a contract is concluded by the parties in the form of a contract, the contract is formed when all the parties sign, seal or fingerprint it. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it.

A contract shall be concluded in writing as stipulated by laws and administrative regulations or agreed by the parties. If the parties fail to do so in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.

Article 491 Where the parties conclude a contract in the form of letters, data messages, etc. and require the signing of a letter of confirmation, the contract is established when the letter of confirmation is signed.

If the information of goods or services released by one party through the Internet and other information networks meets the conditions of the offer, the contract will be established when the other party chooses the goods or services and submits the order successfully, unless otherwise agreed by the parties.

Article 492 The place where the acceptance takes effect is the place where the contract is established.

Where a contract is concluded in the form of a data message, the recipient’s principal place of business is the place where the contract is established; If there is no main business place, its domicile is the place where the contract is established. Unless otherwise agreed by the parties, such agreement shall prevail.

Article 493 Where the parties conclude a contract in the form of a contract, the place of final signature, seal or fingerprinting shall be the place where the contract is established, unless otherwise agreed by the parties.

Article 494 Where the State issues national ordering tasks or mandatory tasks according to emergency rescue and disaster relief, epidemic prevention and control or other needs, the relevant civil subjects shall conclude a contract in accordance with the rights and obligations stipulated in relevant laws and administrative regulations.

A party obligated to make an offer in accordance with the provisions of laws and administrative regulations shall make a reasonable offer in time.

A party who has the obligation to make a commitment in accordance with the provisions of laws and administrative regulations may not refuse the other party’s reasonable request for concluding a contract.

Article 495 Subscription Letter, Order Letter, Reservation Letter, etc., which the parties agree to conclude a contract within a certain period of time in the future, constitute an appointment contract.

If one party fails to perform the obligation of concluding a contract as stipulated in the appointment contract, the other party may request it to bear the liability for breach of the appointment contract.

Article 496 Standard Terms are terms drawn up by the parties in advance for reuse, and they were not consulted with each other when concluding the contract.

Where a contract is concluded by standard terms, the party providing the standard terms shall follow the principle of fairness to determine the rights and obligations between the parties, and take reasonable measures to remind the other party of the terms that are of great interest to the other party, such as exempting or reducing its responsibilities, and explain the terms according to the other party’s requirements. If the party providing the standard terms fails to perform the obligation of prompting or explaining, so that the other party fails to pay attention to or understand the terms that have a significant interest in it, the other party may claim that the terms will not become the content of the contract.

Article 497 The standard clause is invalid under any of the following circumstances:

(1) It is invalid as stipulated in Section 3 of Chapter 6 of Part I of this Law and Article 506 of this Law;

(2) The party providing the standard terms unreasonably exempts or lightens its responsibility, aggravates the other party’s responsibility or restricts the other party’s main rights;

(3) The party providing the standard terms excludes the other party’s main rights.

Article 498 In case of any dispute over the understanding of the standard terms, it shall be interpreted according to the usual understanding. If there are more than two interpretations of the standard terms, an interpretation that is unfavorable to the party providing the standard terms shall be made. If the standard terms and non-standard terms are inconsistent, the non-standard terms shall be adopted.

Article 499 Where a reward person publicly declares that he will pay a reward to the person who has completed a specific act, the person who has completed the act may request him to pay.

Article 500 In the course of concluding a contract, the parties shall be liable for compensation in case of any of the following circumstances, which cause losses to the other party:

(a) under the guise of concluding a contract, malicious consultation;

(2) Deliberately concealing important facts related to the conclusion of a contract or providing false information;

(three) there are other acts that violate the principle of good faith.

Article 501 Business secrets or other information that should be kept confidential that the parties know in the process of concluding a contract shall not be disclosed or used improperly, regardless of whether the contract is established or not; Whoever divulges or improperly uses the business secret or information, thus causing losses to the other party, shall be liable for compensation.

Chapter III Validity of Contract

Article 502 A lawfully formed contract shall become effective upon its formation, unless otherwise provided by law or agreed by the parties.

In accordance with the provisions of laws and administrative regulations, if the contract should go through the formalities of approval, such provisions shall prevail. If the failure to go through the formalities of approval and so on affects the effectiveness of the contract, it will not affect the performance of the obligation clauses such as approval and the effectiveness of relevant clauses in the contract. If the party who should go through the formalities of applying for approval fails to perform his obligations, the other party may request him to bear the responsibility for violating the obligations.

In accordance with the provisions of laws and administrative regulations, the provisions of the preceding paragraph shall apply to the modification, assignment and dissolution of the contract, which should be approved.

Article 503 Where an unauthorized agent enters into a contract in the name of the principal, and the principal has started to perform the contractual obligations or accepted the performance of the counterpart, it shall be deemed as ratification of the contract.

Article 504 A contract concluded by the legal representative of a legal person or the person in charge of an organization without legal personality exceeds its authority, unless the other party knows or should know that it has exceeded its authority, the representative’s behavior is valid, and the contract concluded is effective for the legal person or the organization without legal personality.

Article 505 The validity of a contract concluded by the parties beyond the scope of business shall be determined in accordance with Section 3 of Chapter VI of Part I of this Law and the relevant provisions of this Part, and the contract shall not be invalidated merely by exceeding the scope of business.

Article 506 The following exemption clauses in the contract are invalid:

(1) Causing personal injury to the other party;

(2) Causing property losses to the other party due to intentional or gross negligence.

Article 507 Non-entry into force, invalidity, cancellation or termination of a contract shall not affect the validity of the clauses on dispute settlement in the contract.

Article 508 Where there are no provisions on the validity of a contract in this Part, the relevant provisions in Chapter VI of Part I of this Law shall apply.

Chapter IV Performance of the Contract

Article 509 The parties shall fully perform their obligations as agreed.

The parties shall follow the principle of good faith and fulfill the obligations of notification, assistance and confidentiality according to the nature, purpose and trading habits of the contract.

During the performance of the contract, the parties concerned should avoid wasting resources, polluting the environment and destroying the ecology.

Article 510 After the contract comes into effect, if the parties have not agreed or clearly agreed on the quality, price or remuneration, place of performance, etc., they may supplement it by agreement; If a supplementary agreement cannot be reached, it shall be determined in accordance with the relevant provisions of the contract or trading habits.

Article 511 Where the parties’ agreement on the contents of the relevant contract is unclear and cannot be determined according to the provisions of the preceding article, the following provisions shall apply:

(a) the quality requirements are not clear, in accordance with the mandatory national standards; If there is no mandatory national standard, it shall be implemented in accordance with the recommended national standard; If there is no recommended national standard, it shall be implemented in accordance with industry standards; If there is no national standard or industry standard, it shall be performed according to the usual standard or the specific standard that meets the purpose of the contract.

(2) If the price or remuneration is unclear, it shall be performed according to the market price at the place of performance when the contract is concluded; If government pricing or government-guided pricing should be implemented according to law, it shall be implemented in accordance with the provisions.

(3) Where the place of performance is not clear, if the money is paid, it shall be performed at the place where the party receiving the money is located; Where real estate is delivered, it shall be performed at the place where the real estate is located; Other targets shall be performed at the place where the party performing the obligation is located.

(4) If the time limit for performance is unclear, the debtor may perform at any time, and the creditor may also request performance at any time, but the other party shall be given necessary preparation time.

(5) If the method of performance is not clear, it shall be performed in a way conducive to the realization of the purpose of the contract.

(6) If the burden of performance expenses is unclear, it shall be borne by the party performing the obligation; The performance expenses increased due to the creditor’s reasons shall be borne by the creditor.

Article 512 Where the subject matter of an electronic contract concluded through an information network such as the Internet is the delivery of goods and delivered by express logistics, the time of receipt by the consignee shall be the delivery time. If the object of an electronic contract is to provide services, the time specified in the generated electronic certificate or physical voucher shall be the time for providing services; If the time is not specified in the above-mentioned vouchers or the time specified is inconsistent with the actual time of providing services, the actual time of providing services shall prevail.

The subject matter of an electronic contract is delivered by online transmission, and the time when the subject matter of the contract enters the specific system designated by the other party and can be retrieved and identified is the delivery time.

If the parties to an electronic contract have otherwise agreed on the way and time of delivering goods or providing services, such agreement shall prevail.

Article 513 Where government pricing or government-guided pricing is implemented, when the government price is adjusted within the delivery period stipulated in the contract, it shall be priced according to the price at the time of delivery. In case of overdue delivery of the subject matter, when the price rises, the original price shall prevail; When the price drops, the new price shall prevail. Overdue extraction of the subject matter or overdue payment, in case of price increase, according to the new price; When the price drops, the original price shall prevail.

Article 514 Unless otherwise provided by law or agreed by the parties, the creditor may request the debtor to perform the debt in the legal tender of the place where it is actually performed.

Article 515 Where there are multiple objects and the debtor only needs to perform one of them, the debtor has the right to choose; However, unless otherwise provided by law, agreed by the parties or trading habits.

If the party entitled to the option fails to make a choice within the agreed time limit or the expiration of the performance period, and fails to make a choice within a reasonable time after being urged, the option shall be transferred to the other party.

Article 516 When exercising the right of option, the parties shall notify the other party in time, and when the notice reaches the other party, the subject matter shall be determined. The subject matter shall not be changed after it is determined, except with the consent of the other party.

Where the optional subject matter cannot be performed, the party entitled to the option shall not choose the subject matter that cannot be performed, unless the performance is caused by the other party.

Article 517 Where there are two or more creditors, and the subject matter can be divided, if each creditor enjoys the creditor’s rights according to the share, it is the creditor’s rights according to the share; If there are two or more debtors, the subject matter can be divided, and each debtor bears the debt according to its share, it is a debt by shares.

If it is difficult to determine the shares of the creditors or debtors by shares, the shares shall be deemed to be the same.

Article 518 Where there are two or more creditors, and all or part of the creditors can request the debtor to perform the debt, it is a joint creditor’s right; Where there are more than two debtors, and the creditor may request part or all of the debtors to perform all the debts, it is a joint debt.

Joint creditor’s rights or joint debts shall be prescribed by law or agreed by the parties.

Article 519 Where it is difficult to determine the share between the joint debtors, it shall be deemed that the share is the same.

A joint debtor who actually undertakes more debts than his own share has the right to recover the excess from other joint debtors within the range of unfulfilled shares, and enjoy the rights of creditors accordingly, but it shall not harm the interests of creditors. Other joint debtors’ defenses against creditors may claim against the debtor.

If the recovered joint and several debtors cannot fulfill their share, the other joint and several debtors shall share it in proportion within the corresponding scope.

Article 520 Where a part of the debtor is jointly and severally liable to perform, offset or deposit the subject matter, the debts of the other debtors to the creditors shall be extinguished within the corresponding scope; The debtor may claim compensation from other debtors in accordance with the provisions of the preceding article.

If the debts of some joint debtors are exempted by the creditors, the debts of other debtors to the creditors shall be eliminated within the scope of the joint debtors’ share.

If the debts of some joint debtors and the creditor’s rights belong to one person, the creditor’s rights against other debtors will continue to exist after deducting the debtor’s share.

Where the creditor’s payment to some joint debtors is delayed, it will be effective to other joint debtors.

Article 521 Where it is difficult to determine the share between joint and several creditors, it shall be deemed that the share is the same.

The joint creditors who actually receive the creditor’s rights shall return them to other joint creditors in proportion.

Joint and several creditor’s rights refer to the relevant provisions of this chapter on joint and several debts.

Article 522 Where the parties agreed that the debtor should perform the debt to the third person, and the debtor failed to perform the debt to the third person or the performance was not in conformity with the agreement, it shall be liable to the creditor for breach of contract.

If the law stipulates or the parties agree that a third party may directly request the debtor to perform its debts, and the third party fails to explicitly refuse within a reasonable period, or the debtor fails to perform its debts to the third party or the performance is not in conformity with the agreement, the third party may request the debtor to bear the liability for breach of contract; The debtor’s defense against the creditor may be claimed by a third party.

Article 523 Where the parties agreed that the third person should perform the debt to the creditor, and the third person failed to perform the debt or the performance of the debt did not conform to the agreement, the debtor shall be liable for breach of contract to the creditor.

Article 524 Where the debtor fails to perform the debt and a third party has a legitimate interest in performing the debt, the third party has the right to perform it on behalf of the creditor; However, unless it can only be performed by the debtor according to the nature of the debt, according to the agreement of the parties or according to the law.

After the creditor accepts the performance of the third party, its creditor’s right to the debtor is transferred to the third party, unless otherwise agreed by the debtor and the third party.

Article 525 Where the parties owe debts to each other and there is no order of performance, they shall perform at the same time. One party has the right to refuse the performance request before the other party performs it. One party has the right to reject the corresponding performance request of the other party when the performance of the debt is not in conformity with the contract.

Article 526 Where the parties owe debts to each other, and there is a sequence of performance, they shall perform the debts first. If one party fails to perform the debts, the latter party has the right to refuse its request for performance. If the performance of the debt by the first party fails to meet the agreement, the second party has the right to refuse its corresponding performance request.

Article 527 The party who should perform the debt first may suspend the performance if there is definite evidence to prove that the other party is under any of the following circumstances:

(a) the business situation has deteriorated seriously;

(2) Transferring property or withdrawing funds to avoid debts;

(3) Loss of business reputation;

(four) there are other circumstances that have lost or may lose the ability to perform debts.

If a party suspends performance without definite evidence, it shall be liable for breach of contract.

Article 528 Where a party suspends performance in accordance with the provisions of the preceding article, it shall promptly notify the other party. If the other party provides an appropriate guarantee, it shall resume performance. After the suspension of performance, if the other party fails to recover its performance ability within a reasonable period of time and fails to provide appropriate guarantee, it shall be deemed that it has failed to perform its main debt by its own behavior, and the party that suspends performance may terminate the contract and request the other party to bear the liability for breach of contract.

Article 529 Where the creditor fails to notify the debtor of the division, merger or change of domicile, thus making it difficult to perform the debt, the debtor may suspend the performance or deposit the subject matter.

Article 530 Creditors may refuse the debtor’s early performance of the debt, except that the early performance does not harm the creditors’ interests.

The expenses incurred by the creditor due to the debtor’s early performance of the debt shall be borne by the debtor.

Article 531 The obligee may refuse the obligor’s partial performance, unless the partial performance does not harm the obligee’s interests.

The expenses incurred by the creditor due to the partial performance of the debt by the debtor shall be borne by the debtor.

Article 532 After the contract comes into effect, the parties may not fail to perform their contractual obligations due to the change of their names or legal representatives, responsible persons and contractors.

Article 533 After the conclusion of a contract, the basic conditions of the contract have changed significantly, which were not foreseeable by the parties when concluding the contract and did not belong to commercial risks. If it is obviously unfair for one party to continue to perform the contract, the adversely affected party may renegotiate with the other party; If negotiation fails within a reasonable time, the parties may request the people’s court or arbitration institution to modify or terminate the contract.

The people’s court or arbitration institution shall, in light of the actual situation of the case, modify or terminate the contract according to the principle of fairness.

Article 534 Where the parties use the contract to commit acts that endanger the national interests and social public interests, the market supervision and management and other relevant administrative departments shall be responsible for supervising and handling them in accordance with the provisions of laws and administrative regulations.

Chapter V Preservation of Contracts

Article 535 Where the debtor’s delay in exercising his creditor’s rights or the subordinate rights related to the creditor’s rights affects the realization of the creditor’s due creditor’s rights, the creditor may request the people’s court to subrogate the debtor’s rights against the counterpart in his own name, except that the rights belong exclusively to the debtor.

The scope of subrogation is limited to the creditor’s due creditor’s rights. The necessary expenses for the creditor to exercise subrogation shall be borne by the debtor.

The counterpart may claim the debtor’s defense from the creditor.

Article 536 Where, before the creditor’s right expires, the limitation period of action for the debtor’s right or the subordinate rights related to the creditor’s right is about to expire or the creditor’s right of bankruptcy is not declared in time, which affects the realization of the creditor’s right, the creditor may subrogate to the debtor’s counterpart and ask him to perform it, report it to the bankruptcy administrator or take other necessary actions.

Article 537 Where the people’s court finds that the subrogation right is established, the debtor’s counterpart shall perform the obligation to the creditor, and after the creditor accepts the performance, the corresponding rights and obligations between the creditor and the debtor and the debtor and the counterpart shall terminate. Where the debtor’s creditor’s rights against the opposite party or the subordinate rights related to the creditor’s rights are preserved or enforced, or the debtor goes bankrupt, it shall be handled in accordance with the provisions of relevant laws.

Article 538 Where the debtor disposes of the property rights and interests free of charge by giving up his creditor’s rights, giving up the guarantee of creditor’s rights, transferring the property free of charge, or maliciously extending the performance period of his due creditor’s rights, thus affecting the realization of the creditor’s rights, the creditor may request the people’s court to cancel the debtor’s behavior.

Article 539 Where the debtor transfers property at an obviously unreasonable low price, accepts another person’s property at an obviously unreasonable high price, or provides guarantee for another person’s debts, which affects the realization of the creditor’s rights, and the debtor’s counterpart knows or should know the situation, the creditor may request the people’s court to cancel the debtor’s behavior.

Article 540th the scope of the right of cancellation shall be limited to the creditor’s rights. The necessary expenses for the creditor to exercise its right of cancellation shall be borne by the debtor.

Article 541 The right of revocation shall be exercised within one year from the date when the creditor knows or should know the reasons for revocation. If the debtor fails to exercise its cancellation right within five years from the date of the debtor’s act, the cancellation right shall be extinguished.

Article 542 Where the debtor’s act affecting the realization of the creditor’s right is revoked, it is not legally binding from the beginning.

Chapter VI Modification and Assignment of Contract

Article 543 The parties may modify the contract through consultation.

Article 544 Where the contents of a contract change are not clearly agreed by the parties, it is presumed that the contract has not been changed.

Article 545 Creditors may assign all or part of their creditor’s rights to a third party, except in any of the following circumstances:

(a) according to the nature of the creditor’s rights shall not be transferred;

(2) Not transferable according to the agreement of the parties;

(3) It may not be transferred according to the law.

If the parties agree that the non-monetary creditor’s rights may not be transferred, they may not confront a bona fide third party. If the parties agree that the money and creditor’s rights are not transferable, they may not confront a third party.

Article 546 Assignment of Creditor’s Rights Without notifying the debtor, the assignment is not effective for the debtor.

The notice of assignment of creditor’s rights shall not be revoked, except with the consent of the transferee.

Article 547 Where the creditor assigns the creditor’s right, the assignee obtains the subordinate rights related to the creditor’s right, except that the subordinate rights belong exclusively to the creditor.

The transferee’s acquisition of the subordinate right shall not be affected by the fact that the subordinate right has not gone through the transfer registration formalities or transferred possession.

Article 548 After receiving the notice of assignment of creditor’s rights, the debtor may claim against the transferee the defense of the transferor.

Article 549 Under any of the following circumstances, the debtor may claim set-off from the assignee:

(1) When the debtor receives the notice of assignment of creditor’s rights, the debtor enjoys the creditor’s rights against the transferor, and the debtor’s creditor’s rights expire before or at the same time as the assigned creditor’s rights;

(two) the debtor’s creditor’s rights and the assigned creditor’s rights are based on the same contract.

Article 550 Increased performance expenses due to the assignment of creditor’s rights shall be borne by the transferor.

Article 551 Where the debtor transfers all or part of the debt to a third party, it shall obtain the consent of the creditor.

The debtor or a third party may urge the creditor to give its consent within a reasonable period of time. If the creditor fails to give an indication, it shall be deemed as disapproval.

Article 552 Where the third person agreed with the debtor to join the debt and informed the creditor, or the third person indicated to the creditor that he was willing to join the debt, and the creditor failed to explicitly refuse within a reasonable period of time, the creditor may request the third person to bear joint and several debts with the debtor within the scope of the debt he is willing to bear.

Article 553 Where the debtor transfers the debt, the new debtor may claim the defense of the original debtor against the creditor; Where the original debtor enjoys the creditor’s rights, the new debtor may not claim set-off from the creditor.

Article 554 Where the debtor transfers the debt, the new debtor shall bear the subordinate debt related to the main debt, except that the subordinate debt belongs exclusively to the original debtor.

Article 555 A party may, with the consent of the other party, assign its rights and obligations under the contract to a third party.

Article 556 Where the rights and obligations under a contract are transferred at the same time, the relevant provisions on the transfer of creditor’s rights and debts shall apply.

Chapter VII Termination of Rights and Obligations of a Contract

Article 557 Creditor’s Rights and Debts shall be terminated under any of the following circumstances:

(a) the debt has been fulfilled;

(2) Debts offset each other;

(3) The debtor deposits the subject matter in accordance with the law;

(4) Creditors are exempted from debts;

(5) Creditor’s rights and debts belong to one person;

(six) other circumstances stipulated by law or agreed by the parties to terminate.

If the contract is terminated, the rights and obligations of the contract shall be terminated.

Article 558 After the termination of creditor’s rights and debts, the parties concerned shall abide by the principle of good faith, and perform obligations such as notification, assistance, confidentiality, and recycling of old things according to trading habits.

Article 559 When the creditor’s rights and debts are terminated, the subordinate rights of the creditor’s rights shall be extinguished at the same time, except as otherwise provided by law or agreed by the parties.

Article 560 Where several debts owed by the debtor to the same creditor are of the same type, and the debtor’s payment is insufficient to pay off all the debts, unless otherwise agreed by the parties, the debtor shall designate the debts to be performed when paying off.

If the debtor fails to make a designation, it shall give priority to fulfilling the debts that have expired; If several debts are all due, priority shall be given to the debts that lack or have the least guarantee for creditors; If there is no guarantee or the guarantee is equal, the debtor’s debts with heavy burden shall be given priority; If the burden is the same, it shall be performed in the order of debt maturity; If the maturity time is the same, it shall be performed in proportion to the debt.

Article 561 The debtor shall pay interest and other expenses related to the realization of the creditor’s rights in addition to the performance of the principal debt. If the payment is insufficient to pay off all the debts, it shall be performed in the following order, unless otherwise agreed by the parties:

(a) the expenses related to the realization of creditor’s rights;

(2) Interest;

(3) principal debt.

Article 562 The parties may terminate the contract through consultation.

The parties may agree on the reasons for one party to terminate the contract. When the cause of termination of the contract occurs, the obligee may terminate the contract.

Article 563 The parties may terminate the contract under any of the following circumstances:

(a) the purpose of the contract cannot be achieved due to force majeure;

(2) Before the expiration of the time limit for performance, one of the parties clearly indicated or indicated by his own behavior that he would not perform the main debt;

(three) one party delays the performance of the main debt and fails to perform it within a reasonable period after being urged;

(four) one of the parties delayed the performance of the debt or other breach of contract, which made it impossible to achieve the purpose of the contract;

(5) Other circumstances stipulated by law.

For an indefinite contract whose content is continuous performance of debts, the parties may terminate the contract at any time, but they shall notify the other party before a reasonable period.

Article 564 The time limit for exercising the right of rescission is prescribed by law or agreed by the parties. If the parties fail to exercise the right at the expiration of the time limit, the right shall be extinguished.

If the law does not stipulate or the parties have not agreed on the time limit for exercising the right of rescission, and the person who removes the right knows or should know the reason for rescission fails to exercise it within one year, or fails to exercise it within a reasonable period after being urged by the other party, the right shall be extinguished.

Article 565 If one party claims to terminate the contract according to law, it shall notify the other party. The contract is terminated when the notice reaches the other party; If the notice states that the debtor fails to perform his debts within a certain period of time, the contract will be automatically terminated. If the debtor fails to perform his debts within that period of time, the contract will be terminated at the expiration of the period specified in the notice. If the other party has any objection to the termination of the contract, either party may request a people’s court or an arbitration institution to confirm the validity of the termination.

If one of the parties claims to terminate the contract by filing a lawsuit or applying for arbitration without notifying the other party, and the people’s court or arbitration institution confirms this claim, the contract shall be terminated when a copy of the complaint or arbitration application is served on the other party.

Article 566 If the contract has not been performed after dissolution, the performance shall be terminated; If it has been performed, according to the performance and the nature of the contract, the parties may request restitution or take other remedial measures, and have the right to claim compensation for losses.

If the contract is terminated due to breach of contract, the obligee may request the breaching party to bear the liability for breach of contract, unless otherwise agreed by the parties.

After the termination of the main contract, the guarantor shall still bear the guarantee liability for the civil liability that the debtor should bear, unless otherwise agreed in the guarantee contract.

Article 567 Termination of the rights and obligations of a contract shall not affect the validity of the settlement and liquidation clauses in the contract.

Article 568 Where the parties owe debts to each other, and the subject matter of the debts is of the same type and quality, either party may set off its debts against the debts due from the other party; However, it is not allowed to set off according to the nature of the debt, the agreement of the parties or the law.

If a party claims set-off, it shall notify the other party. The notice takes effect when it reaches the other party. No conditions or time limit may be attached to the set-off.

Article 569 Where the parties owe debts to each other, and the types and quality of the subject matter are different, they may also set them off through consultation.

Article 570 Where it is difficult to perform the debt under any of the following circumstances, the debtor may place the subject matter in escrow:

(1) The creditor refuses to accept it without justifiable reasons;

(2) The creditor’s whereabouts are unknown;

(three) the death of the creditor has not determined the heir, the administrator of the estate, or the loss of civil capacity has not determined the guardian;

(4) Other circumstances prescribed by law.

If the subject matter is not suitable for escrow or the escrow fee is too high, the debtor may auction or sell the subject matter according to law and escrow the proceeds.

Article 571 Escrow is established when the debtor delivers the subject matter or the proceeds from the auction or sale of the subject matter according to law to the escrow department.

Where escrow is established, it shall be deemed that the debtor has delivered the subject matter within the scope of escrow.

Article 572 After the subject matter is placed in escrow, the debtor shall promptly notify the creditor or the creditor’s heirs, administrators, guardians and property custodians.

Article 573 After the subject matter is placed in escrow, the risk of damage or loss shall be borne by the creditor. During the period of escrow, the fruits of the subject matter belong to the creditors. The deposit fee shall be borne by the creditor.

Article 574 Creditors may claim the deposit at any time. However, if the creditor has a due debt to the debtor, the escrow department shall refuse to receive the escrow item according to the debtor’s request before the creditor fails to perform the debt or provide a guarantee.

The creditor’s right to receive the deposit shall be extinguished if it is not exercised within five years from the date of deposit, and the deposit shall be owned by the state after deducting the deposit fee. However, if the creditor fails to perform the due debt to the debtor, or the creditor gives up the right to receive the escrow item in writing to the escrow department, the debtor has the right to retrieve the escrow item after paying the escrow fee.

Article 575 Where the creditor discharges part or all of the debtor’s debts, the creditor’s rights and debts are partially or completely terminated, unless the debtor refuses within a reasonable time.

Article 576 Where the creditor’s rights and debts belong to the same person, the creditor’s rights and debts shall be terminated, unless the interests of a third party are harmed.

Chapter VIII Liability for Breach of Contract

Article 577 Where a party fails to perform its contractual obligations or fails to perform its contractual obligations in conformity with the contract, it shall be liable for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 578 Where a party expressly expresses or shows by his own behavior that he will not perform his contractual obligations, the other party may request him to bear the liability for breach of contract before the time limit for performance expires.

Article 579 If one party fails to pay the price, remuneration, rent or interest, or fails to perform other monetary obligations, the other party may demand payment.

Article 580 Where one party fails to perform the non-monetary debt or the performance of the non-monetary debt is not in conformity with the agreement, the other party may request performance, except in any of the following circumstances:

(a) unable to perform in law or in fact;

(two) the subject matter of the debt is not suitable for compulsory performance or the performance cost is too high;

(3) The creditor fails to request performance within a reasonable time limit.

If one of the exceptions specified in the preceding paragraph makes it impossible to achieve the purpose of the contract, the people’s court or arbitration institution may terminate the contractual rights and obligations at the request of the parties, but it does not affect the liability for breach of contract.

Article 581 Where one party fails to perform the debt or the performance is not in conformity with the contract, and the performance cannot be enforced according to the nature of the debt, the other party may request it to bear the expenses for performance by a third party.

Article 582 Where the performance is not in conformity with the agreement, it shall bear the liability for breach of contract in accordance with the agreement of the parties. If the liability for breach of contract is not stipulated or clearly stipulated and cannot be determined according to the provisions of Article 510 of this Law, the injured party may reasonably choose to ask the other party to bear the liability for breach of contract such as repair, rework, replacement, return, reduction of price or remuneration according to the nature of the subject matter and the size of the loss.

Article 583 Where one party fails to perform its contractual obligations or fails to perform its contractual obligations in conformity with the contract, if the other party still suffers other losses after performing its obligations or taking remedial measures, it shall compensate for the losses.

Article 584 Where one party fails to perform its contractual obligations or fails to perform its contractual obligations in conformity with the contract, thus causing losses to the other party, the amount of damages shall be equivalent to the losses caused by the breach of contract, including the benefits that can be obtained after the performance of the contract; However, it shall not exceed the losses that the breaching party foresaw or should have foreseen when concluding the contract.

Article 585 The parties may agree that one party shall pay a certain amount of liquidated damages to the other party in case of breach of contract, or may agree on the calculation method of the amount of compensation for losses caused by breach of contract.

If the agreed liquidated damages are lower than the losses caused, the people’s court or arbitration institution may increase them at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people’s court or arbitration institution may appropriately reduce them at the request of the parties.

If the parties concerned pay liquidated damages for the delay in performance, the breaching party shall also perform the debt after paying the liquidated damages.

Article 586 The parties may agree that one party shall pay a deposit to the other party as security for the creditor’s rights. The deposit contract is established when the deposit is actually paid.

The amount of the deposit shall be agreed by the parties; However, it shall not exceed 20% of the subject matter of the main contract, and the excess shall not have the effect of deposit. If the actual amount of deposit paid is more than or less than the agreed amount, it shall be deemed as a change of the agreed amount of deposit.

Article 587 Where the debtor performs the debt, the deposit shall be set off as the price or recovered. If the party paying the deposit fails to perform the debt or the performance of the debt does not conform to the agreement, so that the purpose of the contract cannot be achieved, it has no right to request the return of the deposit; If the party receiving the deposit fails to perform the debt or the performance of the debt does not conform to the agreement, so that the purpose of the contract cannot be achieved, the deposit shall be returned twice.

Article 588 Where the parties have agreed on both the liquidated damages and the deposit, if one party breaches the contract, the other party may choose to apply the liquidated damages or the deposit clause.

If the deposit is not enough to make up for the losses caused by one party’s breach of contract, the other party may request compensation for the losses exceeding the deposit amount.

Article 589 Where the debtor performs the debt as agreed and the creditor refuses to accept it without justifiable reasons, the debtor may request the creditor to compensate for the increased expenses.

During the delay of the creditor’s acceptance, the debtor is not required to pay interest.

Article 590 Where a party fails to perform the contract due to force majeure, it shall be exempted from liability in part or in whole according to the influence of force majeure, except as otherwise provided by law. If the contract cannot be performed due to force majeure, the other party shall be informed in time to reduce the losses that may be caused to the other party, and proof shall be provided within a reasonable time.

If force majeure occurs after the delay in performance, the party concerned shall not be exempted from the liability for breach of contract.

Article 591 After one party breaches the contract, the other party shall take appropriate measures to prevent the loss from expanding; If no appropriate measures are taken to cause the losses to expand, no compensation may be requested for the expanded losses.

The reasonable expenses incurred by the parties to prevent the loss from expanding shall be borne by the breaching party.

Article 592 Where both parties breach a contract, they shall bear their respective responsibilities.

If one party’s breach of contract causes losses to the other party, and the other party is at fault for the occurrence of losses, the corresponding compensation for losses may be reduced.

Article 593 Where a party breaches the contract due to the reason of a third party, it shall be liable to the other party for breach of contract according to law. Disputes between a party and a third party shall be handled in accordance with the law or in accordance with the agreement.

Article 594 The limitation period for bringing a lawsuit or applying for arbitration due to disputes over international contracts for the sale of goods and technology import and export contracts is four years.

Part II Typical Contract

Chapter IX Sales Contract

Article 595 A sales contract is a contract in which the seller transfers the ownership of the subject matter to the buyer and the buyer pays the price.

Article 596 The contents of a sales contract generally include terms such as the name, quantity, quality, price, time limit for performance, place and method of performance, packing method, inspection standard and method, settlement method, words used in the contract and their effectiveness.

Article 597 Where the ownership of the subject matter cannot be transferred because the seller has not obtained the disposition right, the buyer may terminate the contract and request the seller to bear the liability for breach of contract.

The laws and administrative regulations prohibit or restrict the transfer of the subject matter, in accordance with its provisions.

Article 598 The seller shall perform the obligation to deliver the subject matter to the buyer or deliver the documents for taking delivery of the subject matter, and transfer the ownership of the subject matter.

Article 599 The seller shall deliver to the buyer the relevant documents and materials other than the documents for taking delivery of the subject matter in accordance with the agreement or trading practice.

Article 600 Where a subject matter with intellectual property rights is sold, the intellectual property rights of the subject matter do not belong to the buyer unless otherwise provided by law or agreed by the parties.

Article 601 The seller shall deliver the subject matter at the agreed time. If the delivery period is agreed, the seller may deliver the goods at any time within the delivery period.

Article 602 Where the time limit for delivery of the subject matter was not prescribed by the parties or was not clearly prescribed, the provisions of Article 510 and Item 4 of Article 511 of this Law shall apply.

Article 603 The seller shall deliver the subject matter at the agreed place.

Where the parties have not agreed on the place of delivery or the agreement is unclear and cannot be determined according to the provisions of Article 510 of this Law, the following provisions shall apply:

(1) If the subject matter needs to be transported, the seller shall deliver the subject matter to the first carrier for delivery to the buyer;

(2) The subject matter does not need to be transported, and if the seller and the buyer knew that the subject matter was at a certain place when concluding the contract, the seller shall deliver the subject matter at that place; If the subject matter is not known at a certain place, it shall be delivered at the seller’s business place when the contract is concluded.

Article 604 The risk of damage or loss of the subject matter shall be borne by the seller before delivery and by the buyer after delivery, except as otherwise provided by law or agreed by the parties.

Article 605 Where the subject matter is not delivered within the agreed time limit due to the buyer’s fault, the buyer shall bear the risk of damage or loss of the subject matter from the time of breach of the agreement.

Article 606 Where the seller sells the subject matter in transit delivered by the carrier, unless otherwise agreed by the parties, the risk of damage or loss shall be borne by the buyer from the time the contract is established.

Article 607 After the seller delivered the subject matter to the place designated by the buyer in accordance with the agreement and delivered it to the carrier, the risk of damage or loss of the subject matter shall be borne by the buyer.

Where the parties have not agreed on the place of delivery or the agreement is unclear, and the subject matter needs to be transported according to the provisions of Item 1, Paragraph 2, Article 603 of this Law, after the seller delivers the subject matter to the first carrier, the risk of damage or loss of the subject matter shall be borne by the buyer.

Article 608 Where the seller placed the subject matter at the delivery place in accordance with the agreement or in accordance with the provisions of Item 2, Paragraph 2 of Article 603 of this Law, and the buyer failed to collect it in violation of the agreement, the risk of damage or loss of the subject matter shall be borne by the buyer from the time of violation of the agreement.

Article 609 The seller’s failure to deliver the documents and materials related to the subject matter as agreed shall not affect the transfer of the risk of damage or loss of the subject matter.

Article 610 Where the purpose of the contract cannot be achieved because the subject matter does not meet the quality requirements, the buyer may refuse to accept the subject matter or terminate the contract. If the buyer refuses to accept the subject matter or terminates the contract, the risk of damage or loss of the subject matter shall be borne by the seller.

Article 611 Where the risk of damage or loss of the subject matter is borne by the buyer, it shall not affect the buyer’s right to demand the seller to bear the liability for breach of contract due to his non-conformity in performance of obligations.

Article 612 The seller has the obligation to ensure that the third party does not enjoy any rights over the delivered subject matter, except as otherwise provided by law.

Article 613 Where the buyer knew or should have known that a third party had rights to the subject matter of the sale when concluding the contract, the seller shall not assume the obligations stipulated in the preceding article.

Article 614 Where the buyer has conclusive evidence to prove that the third party has the right to the subject matter, it may suspend the payment of the corresponding price, unless the seller provides an appropriate guarantee.

Article 615 The seller shall deliver the subject matter in accordance with the agreed quality requirements. If the seller provides a description of the quality of the subject matter, the delivered subject matter shall meet the quality requirements of the description.

Article 616 Where the quality requirements of the subject matter were not prescribed or clearly prescribed by the parties and cannot be determined according to the provisions of Article 511 of this Law, the provisions of Item 1 of Article 511 of this Law shall apply.

Article 617 Where the subject matter delivered by the seller does not meet the quality requirements, the buyer may claim liability for breach of contract according to the provisions of Articles 582 to 584 of this Law.

Article 618 Where the parties agreed to reduce or exempt the seller from the liability for the defects in the subject matter, if the seller intentionally or grossly failed to inform the buyer of the defects in the subject matter, the seller has no right to claim to reduce or exempt the liability.

Article 619 The seller shall deliver the subject matter in the agreed packaging method. If there is no agreement or unclear agreement on the packaging method, and it cannot be determined according to the provisions of Article 510 of this Law, it shall be packaged in a common way; If there is no general way, it should adopt a packaging method that is sufficient to protect the subject matter and is conducive to saving resources and protecting the ecological environment.

Article 620 Upon receipt of the subject matter, the buyer shall inspect it within the agreed inspection period. If there is no agreed inspection period, it shall be inspected in time.

Article 621 Where the parties agreed on the inspection period, the buyer shall notify the seller of the non-conformity of the quantity or quality of the subject matter within the inspection period. If the buyer is slow to notify, it shall be deemed that the quantity or quality of the subject matter conforms to the agreement.

If the parties have not agreed on the inspection period, the buyer shall notify the seller within a reasonable period of time when it finds or should find that the quantity or quality of the subject matter does not conform to the agreement. If the buyer fails to notify the seller within a reasonable period of time or fails to notify the seller within two years from the date of receiving the subject matter, it shall be deemed that the quantity or quality of the subject matter conforms to the agreement; However, if there is a quality guarantee period for the subject matter, the quality guarantee period shall apply, and the provisions of the two-year period shall not apply.

If the seller knows or should know that the provided subject matter is not in conformity with the agreement, the buyer is not limited by the notice time stipulated in the preceding two paragraphs.

Article 622 If the inspection period agreed by the parties is too short, and it is difficult for the buyer to complete the comprehensive inspection within the inspection period according to the nature and trading habits of the subject matter, the period shall only be regarded as the time limit for the buyer to raise objections to the appearance defects of the subject matter.

If the agreed inspection period or quality assurance period is shorter than the period stipulated by laws and administrative regulations, the period stipulated by laws and administrative regulations shall prevail.

Article 623 Where the time limit for inspection is not stipulated by the parties, and the quantity, model and specification of the subject matter are specified in the delivery note and confirmation note signed by the buyer, it is presumed that the buyer has inspected the quantity and appearance defects, unless there is relevant evidence enough to overturn them.

Article 624 The seller delivered the subject matter to a third party in accordance with the instructions of the buyer. If the inspection standards agreed by the seller and the buyer are inconsistent with those agreed by the buyer and the third party, the inspection standards agreed by the seller and the buyer shall prevail.

Article 625 Where, in accordance with the provisions of laws and administrative regulations or in accordance with the agreement of the parties, the subject matter should be recycled after the expiration of the effective service life, the seller shall have the obligation to recycle the subject matter by himself or by entrusting a third party.

Article 626 The buyer shall pay the price in accordance with the agreed amount and payment method. Where there is no agreement or unclear agreement on the amount and payment method of the price, the provisions of Article 510 and Item 2 and Item 5 of Article 511 of this Law shall apply.

Article 627 The buyer shall pay the price at the agreed place. Where the place of payment is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the buyer shall pay at the seller’s business place; However, if it is agreed that the payment of the price is conditional on the delivery of the subject matter or the delivery of the documents for extracting the subject matter, the payment shall be made at the place where the subject matter is delivered or the documents for extracting the subject matter are delivered.

Article 628 The buyer shall pay the price at the agreed time. If the payment time is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, the buyer shall pay at the same time as receiving the subject matter or taking out the documents of the subject matter.

Article 629 Where the seller overpaid the subject matter, the buyer may accept or refuse to accept the overpaid part. If the buyer receives the overpaid part, it shall pay the price according to the agreed price; If the buyer refuses to accept the overpaid part, it shall notify the seller in time.

Article 630 Fruits arising from the subject matter before delivery shall be owned by the seller; The fruits produced after delivery shall be owned by the buyer. However, unless otherwise agreed by the parties.

Article 631 Where a contract is terminated because the subject matter of the subject matter is not in conformity with the contract, the effect of termination of the contract extends to the accessory. If the subordinate object of the subject matter is dissolved because it does not conform to the agreement, the effect of dissolution is not as good as that of the main object.

Article 632 Where the subject matter is several, and one of them is not in conformity with the contract, the buyer may terminate it. However, if the value of the subject matter is obviously damaged by the separation of the object from other objects, the buyer may terminate the contract for several objects.

Article 633 Where the seller delivered the subject matter in batches, if the seller failed to deliver one batch of the subject matter or the delivery did not conform to the contract, so that the purpose of the contract could not be achieved, the buyer may terminate the batch of subject matter.

If the seller fails to deliver one batch of the subject matter or the delivery does not conform to the agreement, so that the delivery of other batches of the subject matter can not achieve the purpose of the contract, the buyer may terminate the subject matter of this batch and other batches.

If the buyer cancels one batch of the subject matter, which is interdependent with other batches of the subject matter, it may cancel the delivered and undelivered batches of the subject matter.

Article 634 Where the buyer of installment payment fails to pay the due price by one fifth of the total price, and fails to pay the due price within a reasonable period after being urged, the seller may request the buyer to pay the full price or terminate the contract.

If the seller terminates the contract, it may request the buyer to pay the use fee of the subject matter.

Article 635 The parties to the sale by sample shall seal up the sample and may explain the quality of the sample. The subject matter delivered by the seller shall be of the same quality as the sample and its description.

Article 636 Where the buyer who buys and sells by sample does not know that the sample has hidden defects, even if the delivered subject matter is the same as the sample, the quality of the delivered subject matter by the seller shall still meet the usual standards of the same kind.

Article 637 The parties to the trial sale may stipulate the trial period of the subject matter. If the probation period is not stipulated or clearly stipulated and cannot be determined according to the provisions of Article 510 of this Law, it shall be determined by the seller.

Article 638 A buyer of a trial sale may purchase the subject matter or refuse to buy it during the trial period. Upon the expiration of the trial period, if the buyer fails to indicate whether or not to purchase the subject matter, it shall be deemed as a purchase.

If the buyer of a trial sale has paid part of the price or sold, leased or set up a security interest on the subject matter during the trial period, it shall be deemed as agreeing to purchase.

Article 639 Where the parties to the trial sale did not stipulate or clearly stipulated the fee for the use of the subject matter, the seller has no right to demand payment from the buyer.

Article 640th Risk of Damage or Loss of the Subject Matter During the Probation Period shall be borne by the seller.

Article 641 The parties may stipulate in the sales contract that if the buyer fails to pay the price or other obligations, the ownership of the subject matter belongs to the seller.

The seller’s reserved ownership of the subject matter shall not be opposed to a bona fide third party without registration.

Article 642 The parties agreed that the seller should retain the ownership of the subject matter of the contract. Before the ownership of the subject matter is transferred, if the buyer has any of the following circumstances, thus causing damage to the seller, the seller has the right to take back the subject matter, unless otherwise agreed by the parties:

(1) Failing to pay the price as agreed, and failing to pay within a reasonable period after being urged;

(two) did not complete the specific conditions in accordance with the agreement;

(3) Selling, pledging or taking other improper measures against the subject matter.

The seller may negotiate with the buyer to retrieve the subject matter; If negotiation fails, reference can be made to the implementation procedures of applicable security interests.

Article 643 After the seller takes back the subject matter in accordance with the provisions of the first paragraph of the preceding article, if the buyer eliminates the reasons for the seller to take back the subject matter within a reasonable redemption period agreed by both parties or specified by the seller, he may request redemption of the subject matter.

If the buyer fails to redeem the subject matter within the redemption period, the seller may sell the subject matter to a third party at a reasonable price, and the remaining proceeds from the sale after deducting the unpaid price and necessary expenses from the buyer shall be returned to the buyer; The insufficient part shall be paid off by the buyer.

Article 644 The rights and obligations of the parties involved in the bidding and tendering business and the bidding and tendering procedures shall be in accordance with the provisions of relevant laws and administrative regulations.

Article 645 The rights and obligations of the parties to an auction and the auction procedures shall be in accordance with the provisions of relevant laws and administrative regulations.

Article 646 Where the law provides for other paid contracts, such provisions shall prevail; If there are no provisions, refer to the relevant provisions of the applicable sales contract.

Article 647 Where the parties agree on a barter transaction to transfer the ownership of the subject matter, the relevant provisions of the applicable sales contract shall apply mutatis mutandis.

Chapter X Contracts for Power Supply, Water, Gas and Heat

Article 648 A power supply contract is a contract in which the power supplier supplies power to the power user and the power user pays the electricity fee.

A power supplier who supplies power to the public shall not refuse the reasonable requirement of the power user to conclude a contract.

Article 649 The contents of a power supply contract generally include terms such as the mode, quality and time of power supply, capacity, address, nature, measurement method, settlement method of electricity price and electricity fee, and maintenance responsibility of power supply facilities.

The place of performance of a power supply contract shall be as agreed by the parties; If the parties have not agreed or the agreement is unclear, the property right boundary of power supply facilities shall be the place of performance.

Article 651 A power supplier shall supply power safely in accordance with the quality standards and agreements stipulated by the state. If the power supplier fails to supply power safely in accordance with the quality standards and agreements stipulated by the state, causing losses to the power user, it shall be liable for compensation.

Article 652 When the power supplier needs to interrupt the power supply due to planned maintenance, temporary maintenance, power restriction according to law or illegal use of electricity by the power user, it shall notify the power user in advance in accordance with the relevant provisions of the state; If the power supply is interrupted without prior notice to the user, causing losses to the user, it shall be liable for compensation.

Article 653 If power is cut off due to natural disasters and other reasons, the power supplier shall promptly repair it in accordance with the relevant provisions of the state. Those who fail to repair in time and cause losses to the power users shall be liable for compensation.

Article 654 A power user shall pay the electricity fee in time in accordance with the relevant provisions of the state and the agreement of the parties. If the electricity user fails to pay the electricity fee within the time limit, he shall pay the liquidated damages in accordance with the agreement. If the electricity user fails to pay the electricity fee and liquidated damages within a reasonable period of time after being urged, the power supplier may suspend power supply in accordance with the procedures prescribed by the state.

If the power supplier suspends power supply according to the provisions of the preceding paragraph, it shall notify the power user in advance.

Article 655 A power user shall use electricity safely, economically and in a planned way in accordance with the relevant provisions of the State and the agreement of the parties. If the power user fails to use electricity in accordance with the relevant provisions of the state and the agreement of the parties, causing losses to the power supplier, he shall be liable for compensation.

Article 656 Contracts for water supply, gas supply and heat supply shall refer to the relevant provisions of the applicable power supply contracts.

Chapter XI Gift Contract

Article 657 A gift contract is a contract in which the donor gives his property to the donee free of charge and the donee expresses his acceptance of the gift.

Article 658 The donor may revoke the gift before the right to donate the property is transferred.

The provisions of the preceding paragraph shall not apply to notarized gift contracts or gift contracts with the nature of public welfare and moral obligations such as disaster relief, poverty alleviation and disability assistance that cannot be revoked according to law.

Article 659 Where the donated property needs to go through registration or other formalities according to law, the relevant formalities shall be handled.

Article 660 If the donor fails to deliver the donated property in a notarized gift contract or a gift contract with the nature of public welfare and moral obligation such as disaster relief, poverty alleviation and disability assistance that cannot be revoked according to law, the donee may request delivery.

If the donated property that should be delivered according to the provisions of the preceding paragraph is damaged or lost due to the intentional or gross negligence of the donor, the donor shall be liable for compensation.

Article 661 Gifts may be accompanied by obligations.

If the gift is accompanied by obligations, the donee shall perform the obligations as agreed.

Article 662 Where the donated property is defective, the donor shall not be liable. For a gift with obligations, if the donated property is defective, the donor shall bear the same responsibilities as the seller within the limits of obligations.

If the donor intentionally fails to inform of the defects or guarantees that there are no defects, thus causing losses to the donee, he shall be liable for compensation.

Article 663 Where the donee is in any of the following circumstances, the donor may revoke the gift:

(a) serious infringement of the legitimate rights and interests of the donor or the donor’s close relatives;

(two) the donor has the obligation to support and fails to perform;

(3) Failing to perform the obligations stipulated in the gift contract.

The donor’s right of revocation shall be exercised within one year from the date when he knows or should know the reasons for revocation.

Article 664 Where the donor dies or loses his capacity for civil conduct due to the illegal act of the donee, the donor’s successor or legal representative may revoke the gift.

The right of revocation of the donor’s heir or legal representative shall be exercised within six months from the date when he knows or should know the reasons for revocation.

Article 665 Where the revocation right holder revokes the gift, he may request the donee to return the donated property.

Article 666 Where the donor’s financial situation has deteriorated significantly, seriously affecting his production, operation or family life, he may no longer perform his gift obligation.

Chapter XII Loan Contract

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, except as otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 When concluding a loan contract, the borrower shall provide the true information about the business activities and financial status related to the loan as required by the lender.

Article 670 Interest on a loan shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan shall be returned according to the actual loan amount and the interest shall be calculated.

Article 671 Where the lender fails to provide the loan on the agreed date and amount, thereby causing losses to the borrower, it shall compensate for the losses.

If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.

Article 672 The lender may inspect and supervise the use of the loan in accordance with the agreement. The borrower shall provide the lender with relevant financial and accounting statements or other materials on a regular basis in accordance with the agreement.

Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and it cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan period is more than one year, it shall be paid at the end of each year, and if the remaining period is less than one year, it shall be paid together with the loan.

Article 675 The borrower shall repay the loan within the agreed time limit. If the loan term is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.

Article 677 Where the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period.

Article 678 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended.

Article 679 A loan contract between natural persons is established when the lender provides the loan.

Article 680 It is forbidden to lend at high interest, and the interest rate of the loan shall not violate the relevant provisions of the state.

If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest.

If the loan contract is not clear about the payment of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties’ trading methods, trading habits, market interest rates and other factors; Borrowing between natural persons is deemed to have no interest.

Chapter XIII Guarantee Contract

Section 1 General Provisions

Article 681 A suretyship contract is a contract in which the surety and the creditor agree that the surety will perform the debt or assume the liability when the debtor fails to perform the due debt or the circumstances agreed by the parties occur.

Article 682 A suretyship contract is an accessory contract to the principal creditor’s rights and debts contract. If the principal creditor’s rights and debts contract is invalid, the guarantee contract shall be invalid, except as otherwise provided by law.

If the debtor, guarantor and creditor are at fault after the guaranty contract is confirmed to be invalid, they shall bear corresponding civil liabilities according to their faults.

Article 683 An organ as a legal person may not be a guarantor, except that it has been approved by the State Council to lend money for the use of loans from foreign governments or international economic organizations.

Non-profit legal persons and unincorporated organizations aiming at public welfare shall not be guarantors.

Article 684 The contents of a suretyship contract generally include the type and amount of the principal creditor’s rights to be guaranteed, the time limit for the debtor to perform the debt, the way, scope and period of suretyship, etc.

Article 685 A suretyship contract may be a separate written contract or a suretyship clause in the principal creditor’s rights and debts contract.

If the third party unilaterally makes a written guarantee to the creditor, and the creditor accepts it without raising any objection, the contract is guaranteed to be established.

Article 686 The forms of suretyship include general suretyship and joint liability suretyship.

If the parties have not agreed on the way of guarantee in the guarantee contract or the agreement is unclear, they shall bear the guarantee liability according to the general guarantee.

Article 687 A general suretyship is one in which the parties stipulate in the suretyship contract that the surety shall bear the suretyship liability when the debtor fails to perform his debts.

The guarantor of general guarantee has the right to refuse to undertake the guarantee liability to the creditor before the main contract dispute has been tried or arbitrated and the debtor’s property is enforced according to law, except in one of the following circumstances:

(1) The debtor’s whereabouts are unknown and there is no property available for execution;

(2) The people’s court has accepted the bankruptcy case of the debtor;

(3) The creditor has evidence to prove that the debtor’s property is insufficient to perform all debts or is unable to perform debts;

(4) The guarantor waives the rights stipulated in this clause in writing.

Article 688 Where the parties stipulate in the suretyship contract that the surety and the debtor shall be jointly and severally liable for the debts, it is a suretyship of joint liability.

When the debtor of joint and several liability guarantee fails to perform the due debt or the circumstances agreed by the parties occur, the creditor may request the debtor to perform the debt, or request the guarantor to assume the guarantee liability within the scope of its guarantee.

Article 689 A surety may require the debtor to provide a counter-guarantee.

Article 690 A guarantor and a creditor may enter into a contract with a maximum amount of guarantee through consultation, and agree to provide guarantee for creditor’s rights that occur continuously within a certain period of time within the maximum amount of creditor’s rights.

In addition to the provisions of this chapter, the maximum amount of guarantee shall be governed by the relevant provisions of mortgage of maximum amount in Part II of this Law.

Section 2 Liability for Guarantee

Article 691 The scope of suretyship includes the principal creditor’s right and its interest, liquidated damages, damages and expenses for realizing the creditor’s right. Unless otherwise agreed by the parties, such agreement shall prevail.

Article 692 A suretyship period is the period during which the surety shall assume the suretyship liability, and there shall be no suspension, interruption or extension.

The creditor and the guarantor may agree on a guarantee period, but if the agreed guarantee period is earlier than or expires at the same time as the performance period of the main debt, it is deemed that there is no agreement; If there is no agreement or the agreement is unclear, the guarantee period shall be six months from the date of expiration of the main debt performance period.

Where the creditor and the debtor have not agreed or clearly agreed on the time limit for the performance of the principal debt, the guarantee period shall be counted from the date when the grace period for the creditor to request the debtor to perform the debt expires.

Article 693 Where the creditor of a general surety fails to bring a lawsuit against the debtor or apply for arbitration during the suretyship period, the surety is no longer liable for suretyship.

If the creditor of joint and several liability guarantee fails to request the guarantor to undertake the guarantee responsibility during the guarantee period, the guarantor will no longer undertake the guarantee responsibility.

Article 694 Where the creditor of a general guarantee brings a lawsuit or applies for arbitration against the debtor before the expiration of the guarantee period, the limitation of action for the guaranteed debt shall begin to be calculated from the date when the guarantor’s right to refuse to undertake the guarantee liability is extinguished.

Where the creditor of joint and several liability guarantee requests the guarantor to assume the guarantee responsibility before the expiration of the guarantee period, the limitation of action for the guaranteed debt shall be calculated from the date when the creditor requests the guarantor to assume the guarantee responsibility.

Article 695 Where the creditor and the debtor negotiate to change the contents of the principal creditor’s rights and debts contract and reduce the debts without the written consent of the guarantor, the guarantor shall still be liable for the changed debts; Where the debt is aggravated, the guarantor shall not be liable for the aggravated part.

If the creditor and the debtor change the performance period of the principal creditor’s rights and debts contract without the written consent of the guarantor, the guarantee period will not be affected.

Article 696 Where a creditor assigns all or part of its creditor’s rights without notifying the guarantor, the assignment shall not be effective for the guarantor.

The guarantor and the creditor have agreed to prohibit the transfer of the creditor’s rights, and if the creditor transfers the creditor’s rights without the written consent of the guarantor, the guarantor will no longer be liable for the transferee.

Article 697 Creditor’s Permission to Transfer All or Part of the Debtor’s Debt Without the Guarantor’s written consent, the Guarantor is no longer liable for the debt transferred without his consent, unless otherwise agreed by the creditor and the Guarantor.

Where a third party joins the debt, the surety’s suretyship liability shall not be affected.

Article 698 The guarantor of a general guarantee provides the creditor with the true information of the debtor’s property available for execution after the expiration of the performance period of the main debt. If the creditor gives up or is slow to exercise his rights, so that the property cannot be executed, the guarantor will no longer bear the guarantee liability within the scope of the value of the property available for execution.

Article 699 Where there are more than two guarantors for the same debt, the guarantors shall bear the suretyship liability according to the share of suretyship agreed in the suretyship contract; If there is no agreement on the share of guarantee, the creditor may request any guarantor to assume the guarantee responsibility within the scope of his guarantee.

Article 700 After assuming the suretyship liability, the surety shall, unless otherwise agreed by the parties, have the right to recover from the debtor within the scope of its suretyship liability, and enjoy the creditor’s rights against the debtor, provided that the interests of the creditor shall not be harmed.

Article 701 The guarantor may claim the debtor’s defense against the creditor. If the debtor waives the defense, the guarantor still has the right to claim defense from the creditor.

Article 702 Where the debtor enjoys the right of set-off or cancellation to the creditor, the surety may refuse to undertake the suretyship liability within the corresponding scope.

Chapter XIV Lease Contract

Article 703 A lease contract is a contract in which the lessor delivers the lease item to the lessee for use and profit, and the lessee pays the rent.

Article 704 The contents of a lease contract generally include terms such as the name, quantity, purpose, lease term, rent, payment term and method, and maintenance of the lease item.

Article 705 The lease term shall not exceed 20 years. More than twenty years, the excess part is invalid.

Upon the expiration of the lease term, the parties may renew the lease contract; However, the agreed lease term shall not exceed twenty years from the date of renewal.

Article 706 Failure of the parties to go through the formalities for registration and filing of the lease contract in accordance with laws and administrative regulations shall not affect the validity of the contract.

Article 707 Where the lease term is more than six months, it shall be in written form. If the parties fail to determine the lease term in written form, it shall be regarded as an indefinite lease.

Article 708 The lessor shall deliver the lease item to the lessee as agreed, and keep the lease item in line with the agreed purpose within the lease term.

Article 709 The lessee shall use the lease item in accordance with the agreed method. Where the method of using the lease item is not prescribed or clearly prescribed and cannot be determined according to the provisions of Article 510 of this Law, it shall be used according to the nature of the lease item.

Article 710 Where the lessee uses the lease item in the prescribed way or according to the nature of the lease item, thereby causing losses to the lease item, it shall not be liable for compensation.

Article 711 Where the lessee fails to use the lease item in the prescribed way or according to its nature, thereby causing losses to the lease item, the lessor may terminate the contract and claim compensation for the losses.

Article 712 The lessor shall perform the maintenance obligations of the lease item, unless otherwise agreed by the parties.

Article 713 Where the lease item needs maintenance, the lessee may request the lessor to maintain it within a reasonable period of time. If the lessor fails to perform the maintenance obligation, the lessee may carry out the maintenance by himself, and the maintenance expenses shall be borne by the lessor. If the maintenance of the leased property affects the lessee’s use, the rent shall be reduced or the lease term shall be extended accordingly.

If the lease item needs maintenance due to the fault of the lessee, the lessor shall not undertake the maintenance obligation specified in the preceding paragraph.

Article 714 The lessee shall take good care of the lease item, and shall be liable for compensation if the lease item is damaged or lost due to improper care.

Article 715 The lessee may, with the consent of the lessor, improve or add other things to the lease item.

If the lessee improves or adds other things to the lease item without the consent of the lessor, the lessor may request the lessee to restore the original state or compensate for the losses.

Article 716 The lessee may sublease the lease item to a third person with the consent of the lessor. If the lessee sublets, the lease contract between the lessee and the lessor shall remain valid; If a third party causes losses to the lease item, the lessee shall compensate for the losses.

If the lessee sublets without the consent of the lessor, the lessor may terminate the contract.

Article 717 Where the lessee subleases the lease item to a third person with the consent of the lessor, if the sublease term exceeds the remaining lease term of the lessee, the agreement in excess of the lease term is not legally binding on the lessor, unless otherwise agreed by the lessor and the lessee.

Article 718 Where the lessor knew or should have known about the sublease, but did not raise any objection within six months, it shall be deemed that the lessor agreed to sublease.

Article 719 Where the lessee is in arrears with the rent, the sub-lessee may pay the rent and liquidated damages owed by it on behalf of the lessee, except that the sublease contract is not legally binding on the lessor.

The rent and liquidated damages paid by the sub-lessee can offset the rent that the sub-lessee should pay to the lessee; If it exceeds the amount of rent payable, it may claim compensation from the lessee.

Article 720 Gains from the possession and use of the lease item during the lease term shall be owned by the lessee, unless otherwise agreed by the parties.

Article 721 The lessee shall pay the rent at the agreed time limit. If the time limit for paying the rent is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the lease term is less than one year, it shall be paid at the expiration of the lease term; If the lease term is more than one year, it shall be paid at the expiration of each year, and if the remaining term is less than one year, it shall be paid at the expiration of the lease term.

Article 722 Where the lessee fails to pay or delays in paying the rent without justifiable reasons, the lessor may request the lessee to pay within a reasonable period of time; If the lessee fails to pay within the time limit, the lessor may terminate the contract.

Article 723 Where the lessee is unable to use or benefit from the lease item due to the claim of a third person, the lessee may request a reduction in the rent or not to pay the rent.

Where a third party claims rights, the lessee shall promptly notify the lessor.

Article 724 Where the lease item cannot be used due to any of the following circumstances, the lessee may terminate the contract:

(1) The leased property is sealed up or detained by judicial organs or administrative organs according to law;

(2) The lease right is controversial;

(3) The leased property violates the mandatory provisions of laws and administrative regulations on the conditions of use.

Article 725 If the ownership of the lease item changes within the term of the lessee’s possession in accordance with the lease contract, the validity of the lease contract shall not be affected.

Article 726 Where the lessor sells the leased house, it shall notify the lessee within a reasonable period before the sale, and the lessee shall have the priority to purchase it under the same conditions; However, unless the co-owner of the house exercises the preemptive right or the lessor sells the house to a close relative.

After the lessor performs the notification obligation, if the lessee fails to explicitly indicate the purchase within fifteen days, it shall be deemed that the lessee has waived the preemptive right.

Article 727 Where the lessor entrusts an auctioneer to auction the leased house, it shall notify the lessee five days before the auction. If the lessee fails to participate in the auction, it shall be deemed as giving up the preemptive right.

Article 728 Where the lessor fails to notify the lessee or there are other circumstances that hinder the lessee from exercising the preemptive right, the lessee may request the lessor to bear the liability for compensation. However, the validity of the house sales contract concluded between the lessor and the third party is not affected.

Article 729 Where the lease item is damaged or lost in part or in whole due to reasons not attributable to the lessee, the lessee may request to reduce the rent or not to pay the rent; If the purpose of the contract cannot be achieved due to partial or total damage or loss of the lease item, the lessee may terminate the contract.

Article 730 The term of the lease is not prescribed or clearly prescribed by the parties, and cannot be determined according to the provisions of Article 510 of this Law, it shall be regarded as an indefinite lease; The parties may terminate the contract at any time, but they shall notify the other party before a reasonable time limit.

Article 731 Where the lease item endangers the safety or health of the lessee, the lessee may terminate the contract at any time, even though the lessee knows that the quality of the lease item is not up to standard when concluding the contract.

Article 732 If the lessee dies during the lease term of the house, the person who lived with him before his death or the joint operator may lease the house in accordance with the original lease contract.

Article 733 Upon expiration of the lease term, the lessee shall return the lease item. The returned lease item shall conform to the state after use according to the agreement or the nature of the lease item.

Article 734 Where the lessee continues to use the lease item at the expiration of the lease term and the lessor does not raise any objection, the original lease contract shall remain valid, but the lease term is indefinite.

Upon the expiration of the lease term, the lessee shall have the priority to lease on the same terms.

Chapter XV Financing Lease Contract

Article 735 A financial lease contract is a contract in which the lessor purchases the lease item from the seller according to the lessee’s choice of the seller and the lease item, provides it to the lessee for use, and the lessee pays the rent.

Article 736 The contents of a financial lease contract generally include the lease item’s name, quantity, specifications, technical performance, inspection method, lease term, rent composition, payment term, method and currency, and the ownership of the lease item at the expiration of the lease term.

The financial lease contract shall be in written form.

Article 737 A financial lease contract concluded by the parties in the form of fictitious lease item is invalid.

Article 738 Where an administrative license is required for the operation and use of the lease item in accordance with the provisions of laws and administrative regulations, the lessor’s failure to obtain the administrative license shall not affect the validity of the financial lease contract.

Article 739 In a sales contract concluded by the lessor based on the lessee’s choice of the seller and the lease item, the seller shall deliver the subject matter to the lessee in accordance with the agreement, and the lessee shall enjoy the rights of the buyer related to receiving the subject matter.

Article 740th Where the seller violates the obligation to deliver the subject matter to the lessee, the lessee may refuse to accept the subject matter delivered by the seller under any of the following circumstances:

(a) the subject matter is seriously inconsistent with the agreement;

(2) Failing to deliver the subject matter as agreed, and failing to deliver it within a reasonable time after being urged by the lessee or lessor.

If the lessee refuses to accept the subject matter, it shall promptly notify the lessor.

Article 741 The lessor, the seller and the lessee may agree that if the seller fails to perform the obligations under the sales contract, the lessee shall exercise the right to claim compensation. Where the lessee exercises the right to claim compensation, the lessor shall assist.

Article 742 The lessee’s right to claim compensation against the seller shall not affect its obligation to pay rent. However, if the lessee relies on the skills of the lessor to determine the lease item or the lessor intervenes in the selection of the lease item, the lessee may request the corresponding rent reduction.

Article 743 Where the lessor fails to exercise the right of claim against the seller under any of the following circumstances, the lessee has the right to request the lessor to bear corresponding responsibilities:

(1) Failing to inform the lessee that the leased property has quality defects;

(2) The lessee fails to provide necessary assistance in time when exercising the right to claim compensation.

If the lessor delays in exercising the right of claim that can only be exercised by it against the seller, thus causing losses to the lessee, the lessee has the right to request the lessor to bear the liability for compensation.

Article 744 A sales contract concluded by the lessor based on the lessee’s choice of the seller and the lease item may not be changed by the lessor without the lessee’s consent.

Article 745 The lessor’s ownership of the lease item shall not be opposed to a bona fide third party without registration.

Unless otherwise agreed by the parties, the rent of a financial lease contract shall be determined according to most or all of the cost of purchasing the lease item and the lessor’s reasonable profit.

Article 747 Where the lease item does not conform to the contract or the purpose of use, the lessor shall not be liable. However, unless the lessee relies on the skills of the lessor to determine the lease item or the lessor intervenes in the selection of the lease item.

Article 748 The lessor shall ensure the lessee’s possession and use of the lease item.

If the lessor is under any of the following circumstances, the lessee has the right to claim compensation for the losses:

(a) to recover the leased property without justifiable reasons;

(2) Obstructing or interfering with the lessee’s possession and use of the lease item without justifiable reasons;

(3) A third party claims rights to the leased property due to the lessor’s reasons;

(4) Other circumstances that improperly affect the lessee’s possession and use of the lease item.

Article 749 Lessor’s Liability for Personal Injury or Property Loss to a Third Party Caused by the Leased Item during the lessee’s possession.

Article 750 The lessee shall properly keep and use the lease item.

The lessee shall perform the maintenance obligations during the period of possession of the lease item.

Article 751 Where the lease item is damaged or lost during the lessee’s possession, the lessor has the right to request the lessee to continue to pay the rent, except as otherwise provided by law or agreed by the parties.

Article 752 The lessee shall pay the rent as agreed. If the lessee fails to pay the rent within a reasonable period after being urged, the lessor may request to pay the full rent; You can also terminate the contract and take back the leased property.

Article 753 Where the lessee transfers, mortgages, pledges, invests in shares or otherwise disposes of the lease item without the consent of the lessor, the lessor may terminate the financial lease contract.

Article 754 The lessor or lessee may terminate the financial lease contract under any of the following circumstances:

(1) The sales contract concluded between the lessor and the seller is dissolved, confirmed invalid or cancelled, and the sales contract cannot be re-concluded;

(2) The leased property is damaged or lost due to reasons not attributable to the parties concerned, and the replacement cannot be repaired or determined;

(3) The purpose of the financial lease contract cannot be realized due to the seller’s reasons.

Article 755 Where a financial lease contract is dissolved due to the cancellation of the sales contract, its confirmation as invalid or its cancellation, and the seller and the lease item are selected by the lessee, the lessor has the right to request the lessee to compensate the corresponding losses; However, unless the sales contract is dissolved, confirmed invalid or cancelled due to the lessor’s reasons.

If the lessor’s loss has been compensated when the sales contract is terminated, confirmed invalid or cancelled, the lessee will no longer bear the corresponding liability for compensation.

Article 756 Where a financial lease contract is terminated due to reasons not attributable to the parties, such as accidental damage or loss of the lease item after delivery to the lessee, the lessor may request the lessee to make compensation according to the depreciation of the lease item.

Article 757 The lessor and lessee may agree on the ownership of the lease item at the expiration of the lease term; Where the ownership of the leased property is not prescribed or clearly prescribed, and cannot be determined according to the provisions of Article 510 of this Law, the ownership of the leased property belongs to the lessor.

Article 758 Where the parties agreed that the lease item shall be owned by the lessee at the expiration of the lease term, and the lessee has paid most of the rent, but is unable to pay the remaining rent, so the lessor terminates the contract and takes back the lease item. If the value of the recovered lease item exceeds the rent and other expenses owed by the lessee, the lessee may request a corresponding return.

If the parties agree that the lease item shall be owned by the lessor at the expiration of the lease term, and the lessee cannot return it because the lease item is damaged, lost or attached to or mixed with other things, the lessor has the right to request the lessee to give reasonable compensation.

Article 759 Where the parties agree that the lease term expires and the lessee only needs to pay a nominal price to the lessor, it shall be deemed that the ownership of the lease item belongs to the lessee after the agreed rental obligation is fulfilled.

Article 760th The financial lease contract is invalid, and if the parties have an agreement on the ownership of the lease item in this case, such agreement shall prevail; If there is no agreement or the agreement is unclear, the lease item shall be returned to the lessor. However, if the contract is invalid due to the lessee’s reasons, and the lessor does not request the return or the utility of the leased property will be significantly reduced after the return, the ownership of the leased property belongs to the lessee, and the lessee shall give the lessor reasonable compensation.

Chapter XVI Factoring Contract

Article 761 A factoring contract is a contract in which the creditor of accounts receivable transfers the existing or existing accounts receivable to the factor, and the factor provides services such as financing, management or collection of accounts receivable, and payment guarantee for the debtor of accounts receivable.

Article 762 The contents of a factoring contract generally include terms such as business type, service scope, service term, basic transaction contract, accounts receivable information, factoring financing money or service remuneration and payment method.

Factoring contracts shall be in written form.

Article 763 Where the creditor of accounts receivable and the debtor make up the accounts receivable as the transfer object and conclude a factoring contract with the factor, the debtor of accounts receivable shall not oppose the factor on the grounds that the accounts receivable do not exist, unless the factor knows that the accounts receivable are fictitious.

Article 764 Where a factor issues a notice of assignment of accounts receivable to the debtor of accounts receivable, it shall indicate the identity of the factor and attach the necessary documents.

Article 765 After the debtor of accounts receivable receives the notice of assignment of accounts receivable, if the creditor of accounts receivable and the debtor negotiate to change or terminate the basic transaction contract without justifiable reasons, which will adversely affect the factor, it will not be effective for the factor.

Article 766 Where the parties agree on factoring with recourse, the factor may claim the repayment of the principal and interest of the factoring financing or the repurchase of the accounts receivable creditor’s rights, or claim the accounts receivable creditor’s rights from the accounts receivable debtor. Where the factor claims the creditor’s rights of accounts receivable from the debtor of accounts receivable, if there is any surplus after deducting the principal and interest of factoring financing funds and related expenses, the surplus shall be returned to the creditor of accounts receivable.

Article 767 Where the parties agree on factoring without recourse, the factor shall claim the creditor’s rights of the accounts receivable from the debtor of the accounts receivable, and it is not necessary for the factor to return the part that exceeds the principal and interest of the factoring financing and related expenses.

Article 768 Creditors of Accounts Receivable Where multiple factoring contracts are concluded for the same account receivable, thus causing multiple factors to claim rights, the registered accounts receivable shall be obtained before the unregistered accounts receivable; If all of them have been registered, the accounts receivable shall be obtained in the order of registration time; If they are not registered, the accounts receivable shall be obtained by the factor specified in the transfer notice that first reaches the debtor of accounts receivable; If it is neither registered nor notified, the accounts receivable shall be obtained according to the proportion of factoring financing money or service remuneration.

Article 769 Where there are no provisions in this Chapter, the relevant provisions on assignment of creditor’s rights in Chapter VI of this Part shall apply.

Chapter XVII Contract of Contract

Article 770 A contract of employment is a contract in which the hiree completes the work according to the requirements of the hirer, delivers the work results, and the hirer pays the remuneration.

Contracting includes processing, customization, repair, reproduction, testing and inspection.

Article 771 The contents of an employment contract generally include the subject matter, quantity, quality, remuneration, mode of employment, provision of materials, time limit for performance, acceptance criteria and methods, etc.

The hiree shall use its own equipment, technology and labor to complete the main work, unless otherwise agreed by the parties.

If the contractor entrusts the main work it undertakes to a third party, it shall be responsible to the ordering party for the work results completed by the third party; Without the consent of the ordering party, the ordering party may also terminate the contract.

Article 773 The hiree may entrust the auxiliary work it contracted to a third person for completion. Where the contractor entrusts the auxiliary work contracted by it to a third party, it shall be responsible to the ordering party for the results of the work completed by the third party.

Article 774 Where the contractor provides the materials, it shall select the materials in accordance with the contract and accept the inspection by the ordering party.

Article 775 Where the hirer provides the materials, it shall provide the materials in accordance with the contract. The contractor shall timely inspect the materials provided by the ordering party, and if it finds that the materials are not in conformity with the contract, it shall timely notify the ordering party to replace, supplement or take other remedial measures.

The contractor shall not replace the materials provided by the ordering party without authorization, and shall not replace the parts that do not need to be repaired.

Article 776 Where the hiree discovers that the drawings or technical requirements provided by the hirer are unreasonable, it shall promptly notify the hirer. Where the hiree suffers losses due to the hirer’s delay in replying, it shall compensate for the losses.

Article 777 Where the hirer changes the requirements of the contracted work midway, thereby causing losses to the hiree, it shall compensate for the losses.

Article 778 Where the hirer is required to assist in the contract work, the hirer has the obligation to assist. If the hirer fails to perform the obligation of assistance and the contracted work cannot be completed, the hiree may urge the hirer to perform the obligation within a reasonable period of time, and may postpone the performance period; If the ordering party fails to perform within the time limit, the contractor may terminate the contract.

Article 779 The hiree shall accept the necessary supervision and inspection by the hirer during the work. The ordering party shall not hinder the normal work of the contractor due to supervision and inspection.

Upon completion of the work, the hiree shall deliver the work product to the hirer, and submit the necessary technical data and relevant quality certificates. The ordering party shall accept the work product.

Article 781 Where the work product delivered by the contractor does not meet the quality requirements, the hirer may reasonably choose to request the contractor to bear the liabilities for breach of contract such as repair, rework, reduction of remuneration and compensation for losses.

Article 782 hirer’s remuneration shall be paid within the prescribed time limit. Where the time limit for payment of remuneration is not prescribed or clearly prescribed, and cannot be determined according to the provisions of Article 510 of this Law, the hirer shall pay it when the contractor delivers the work product; Where the work product is partially delivered, the ordering party shall pay accordingly.

Article 783 Where the hirer fails to pay remuneration or material fees to the hiree, the hiree shall have a lien on the completed work product or the right to refuse to deliver it, unless otherwise agreed by the parties.

Article 784 The hiree shall properly keep the materials provided by the hirer and the completed work product, and shall be liable for compensation for damage or loss caused by improper keeping.

Article 785 The hiree shall keep the confidentiality as required by the hirer, and shall not keep copies or technical data without the permission of the hirer.

Article 786 Joint Hiree’s Joint Liability to the Hirer, unless otherwise agreed by the parties.

Article 787 The hirer may terminate the contract at any time before the hiree finishes the work, and shall compensate for the losses caused to the hiree.

Chapter XVIII Construction Project Contract

Article 788 A construction project contract is a contract in which the contractor carries out the project construction and the developer pays the price.

Construction engineering contracts include engineering survey, design and construction contracts.

Article 789 A construction project contract shall be in written form.

Article 790 Bidding activities for construction projects shall be conducted in an open, fair and just manner in accordance with the provisions of relevant laws.

Article 791 The developer may enter into a construction project contract with the general contractor, or enter into a survey, design and construction contract with the surveyor, designer and constructor respectively. The employer shall not divide the construction project that should be completed by one contractor into several parts and contract it out to several contractors.

The general contractor or the survey, design and construction contractor may, with the consent of the employer, entrust part of his contracted work to a third party. The third party shall be jointly and severally liable to the Employer with the general contractor or the survey, design and construction contractor for the work results it has completed. The contractor shall not subcontract all the construction projects it has contracted to a third party or subcontract all the construction projects it has contracted to a third party in the name of subcontracting.

It is forbidden for the contractor to subcontract the project to units that do not have the corresponding qualifications. Subcontractors are prohibited from subcontracting the contracted projects. The construction of the main structure of the construction project must be completed by the contractor himself.

Article 792 A contract for a major state construction project shall be concluded in accordance with the procedures prescribed by the state and the investment plan, feasibility study report and other documents approved by the state.

Article 793 The construction contract of a construction project is invalid, but if the construction project has passed the acceptance test, the contractor may be compensated at a discount according to the agreement on the project price in the contract.

If the construction contract of the construction project is invalid and the acceptance of the construction project is unqualified, it shall be handled according to the following circumstances:

(a) after the repair of the construction project acceptance, the employer may request the contractor to bear the cost of repair;

(two) after the repair of the construction project experience is unqualified, the contractor has no right to request discount compensation according to the contract about the project price.

If the employer is at fault for the losses caused by the unqualified construction project, it shall bear corresponding responsibilities.

Article 794 The contents of a survey and design contract generally include terms such as the time limit, quality requirements, expenses and other cooperation conditions for submitting relevant basic materials and budgetary estimates.

Article 795 The contents of a construction contract generally include the scope of the project, the construction period, the start and completion time of the intermediate completed project, the project quality, the project cost, the delivery time of technical data, the responsibility for the supply of materials and equipment, the allocation and settlement, the completion acceptance, the scope and period of quality warranty, and mutual cooperation.

Article 796 Where supervision is carried out on a construction project, the employer shall conclude an entrustment supervision contract with the supervisor in written form. The rights, obligations and legal responsibilities of the employer and the supervisor shall be in accordance with the provisions of the entrustment contract and other relevant laws and administrative regulations.

Article 797 The developer may inspect the progress and quality of the work at any time without interfering with the normal operation of the contractor.

Article 798 Before concealed works are concealed, the contractor shall notify the employer to inspect them. If the Employer fails to make timely inspection, the Contractor may postpone the project date and have the right to claim compensation for losses such as shutdown and slowdown.

Article 799 Upon completion of a construction project, the developer shall make timely acceptance according to the construction drawings and specifications, the construction acceptance specifications and quality inspection standards issued by the state. Upon acceptance, the Employer shall pay the price as agreed and take over the construction project.

After the completion of the construction project is qualified, it can be delivered for use; Without acceptance or unqualified acceptance, it shall not be delivered for use.

Article 800 Where the quality of survey and design does not meet the requirements or the survey and design documents are not submitted within the time limit, thus delaying the construction period, thus causing losses to the Employer, the surveyor and designer shall continue to improve the survey and design, reduce or waive the survey and design fees and compensate for the losses.

Article 801 Where the quality of a construction project is not in conformity with the contract due to the builder’s reasons, the developer has the right to request the builder to repair, rework or rebuild it free of charge within a reasonable period of time. If the delivery is delayed after repair, rework or reconstruction, the constructor shall bear the liability for breach of contract.

Article 802 Where a construction project causes personal injury or property loss within a reasonable use period due to the contractor’s reasons, the contractor shall be liable for compensation.

Article 803 Where the developer fails to provide raw materials, equipment, site, funds and technical data in accordance with the agreed time and requirements, the contractor may postpone the project date, and has the right to claim compensation for losses such as work stoppage and slowdown.

Article 804 Where the project is stopped or postponed due to the employer’s reasons, the employer shall take measures to make up for or reduce the losses, and compensate the contractor for the losses and actual expenses caused by work stoppage, slowdown, reverse shipment, relocation of machinery and equipment, and backlog of materials and components.

Article 805 Where the survey and design are reworked, stopped or the design is modified due to the employer’s change of plans, inaccurate information provided, or failure to provide necessary survey and design working conditions within the time limit, the employer shall increase the fees according to the workload actually consumed by the surveyor and designer.

Article 806 Where a contractor subcontracts a construction project or subcontracts it illegally, the employer may terminate the contract.

If the main building materials, building components and equipment provided by the Employer do not meet the mandatory standards or fail to perform the obligation of assistance, so that the contractor cannot carry out the construction, and fails to perform the corresponding obligations within a reasonable period after being urged, the contractor may terminate the contract.

After the termination of the contract, if the quality of the completed construction project is qualified, the employer shall pay the corresponding project price in accordance with the agreement; If the quality of the completed construction project is unqualified, it shall be handled with reference to the provisions of Article 793 of this Law.

Article 807 Where the developer fails to pay the price as agreed, the contractor may demand the developer to pay the price within a reasonable time. If the employer fails to pay within the time limit, the contractor may agree with the employer to discount the project, or request the people’s court to auction the project according to law, except that it is not suitable for discount or auction according to the nature of the construction project. The price of a construction project shall be given priority in compensation for the discount or auction price of the project.

Article 808 Where there are no provisions in this chapter, the relevant provisions of the contract shall apply.

Chapter XIX Contract of Carriage

Section 1 General Provisions

Article 809 A contract of carriage is a contract in which the carrier transports passengers or goods from the place of departure to the agreed place, and the passenger, shipper or consignee pays the fare or transportation expenses.

Article 810 A carrier engaged in public transportation shall not refuse the usual and reasonable transportation requirements of passengers and shippers.

Article 811 The carrier shall safely transport passengers and goods to the agreed place within the agreed time limit or within a reasonable time limit.

Article 812 The carrier shall transport passengers and goods to the agreed place according to the agreed or usual transport route.

Article 813 The passenger, shipper or consignee shall pay the fare or transportation expenses. If the carrier fails to transport by the agreed route or the usual route, the passenger, shipper or consignee may refuse to pay the increased fare or transportation fee.

Section 2 Passenger Transport Contract

Article 814 A passenger transport contract shall be established when the carrier issues the passenger ticket, unless the parties have otherwise agreed or have other trading habits.

Article 815 Passengers shall ride according to the time, flight number and seat number recorded in the valid ticket. Passengers who ride without a ticket, over-ride, leapfrog or with preferential tickets that do not meet the price reduction conditions shall pay the fare, and the carrier may charge additional fare in accordance with the regulations; If the passenger does not pay the fare, the carrier may refuse to transport.

Passengers under the real-name registration system Passenger Transport Contract who lose their tickets may request the carrier to report the loss and reissue them, and the carrier shall not charge the fare and other unreasonable fees again.

Article 816 If a passenger cannot travel at the time recorded in the ticket due to his own reasons, he shall go through the formalities of refund or change within the agreed time limit; If it is handled within the time limit, the carrier may not refund the money and will no longer undertake the transportation obligation.

Article 817 The carry-on luggage of passengers shall meet the agreed limit and category requirements; If you carry luggage in excess of the limit or in violation of the category requirements, you should go through the consignment formalities.

Article 818 Passengers are not allowed to carry with them or carry in their luggage dangerous or prohibited articles that are inflammable, explosive, toxic, corrosive and radioactive, and may endanger the personal and property safety of the means of transport.

If a passenger violates the provisions of the preceding paragraph, the carrier may unload, destroy or deliver the dangerous or prohibited articles to the relevant departments. If the passenger insists on carrying or entraining dangerous goods or prohibited goods, the carrier shall refuse to transport them.

Article 819 The carrier shall strictly perform the obligation of safe transportation and promptly inform the passengers of the matters that should be paid attention to in safe transportation. Passengers should actively assist and cooperate with the reasonable arrangements made by the carrier for safe transportation.

Article 820 The carrier shall transport passengers according to the time, frequency and seat number recorded in the valid ticket. If the carrier delays transportation or has other abnormal transportation conditions, it shall promptly inform and remind passengers, take necessary resettlement measures, and arrange to change to other flights or refund tickets according to the requirements of passengers; The carrier shall be liable for the loss of passengers caused by this, except that it is not attributable to the carrier.

Article 821 If the carrier lowers the service standard without authorization, it shall refund the ticket or reduce the fare according to the passenger’s request; If the service standard is improved, no additional fare shall be charged.

Article 822 In the course of transportation, the carrier shall try its best to help passengers suffering from acute illness, childbirth or distress.

Article 823 The carrier shall be liable for the casualties of passengers during transportation; However, unless the casualty is caused by the passenger’s own health or the carrier proves that the casualty is caused by the passenger’s intentional or gross negligence.

The provisions of the preceding paragraph shall apply to passengers without tickets who are free of charge, hold preferential tickets or get permission from the carrier.

Article 824 If the articles carried by passengers are damaged or lost in the course of transportation, and the carrier is at fault, it shall be liable for compensation.

If the checked baggage of passengers is damaged or lost, the relevant provisions on the transport of goods shall apply.

Section 3 Contract of Freight Transportation

Article 825 When handling the transportation of goods, the shipper shall accurately indicate to the carrier the name of the consignee or the consignee as instructed, the name, nature, weight and quantity of the goods, the place of receipt and other necessary information about the transportation of goods.

If the shipper’s declaration is false or important information is omitted, causing losses to the carrier, the shipper shall be liable for compensation.

Article 826 Where the transportation of goods needs to go through the formalities of examination and approval, inspection, etc., the shipper shall submit the documents that have gone through the relevant formalities to the carrier.

Article 827 The shipper shall pack the goods in the agreed manner. Where there is no agreement or unclear agreement on the packaging method, the provisions of Article 619th of this Law shall apply.

If the shipper violates the provisions of the preceding paragraph, the carrier may refuse to transport.

Article 828 Where the shipper consigns inflammable, explosive, toxic, corrosive, radioactive and other dangerous goods, it shall properly package the dangerous goods in accordance with the provisions of the state on the transportation of dangerous goods, make signs and labels of the dangerous goods, and submit written materials about the names, properties and preventive measures of the dangerous goods to the carrier.

If the shipper violates the provisions of the preceding paragraph, the carrier may refuse to transport or take corresponding measures to avoid losses, and the expenses incurred therefrom shall be borne by the shipper.

Article 829 Before the carrier delivers the goods to the consignee, the shipper may require the carrier to stop the transportation, return the goods, change the destination or deliver the goods to other consignees, but it shall compensate the carrier for the losses thus incurred.

Article 830 If the carrier knows the consignee after the arrival of the goods, it shall notify the consignee in time, and the consignee shall take delivery of the goods in time. If the consignee fails to take delivery of the goods within the time limit, it shall pay the carrier the storage fee and other expenses.

Article 831 The consignee shall inspect the goods within the agreed time limit when taking delivery of the goods. If the time limit for inspection of the goods is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, the goods shall be inspected within a reasonable time limit. If the consignee does not raise any objection to the quantity, damage, etc. of the goods within the agreed time limit or within a reasonable time limit, it shall be regarded as the preliminary evidence that the carrier has delivered the goods according to the records in the transport documents.

Article 832 The carrier shall be liable for the damage or loss of the goods in the course of transportation. However, the carrier shall not be liable for compensation if it proves that the damage or loss of the goods is caused by force majeure, the natural nature or reasonable wear and tear of the goods themselves and the fault of the shipper or consignee.

Article 833 The amount of compensation for damage or loss of the goods shall be in accordance with the agreement of the parties; If there is no agreement or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, it shall be calculated according to the market price of the place where the goods arrived at the time of delivery or should be delivered. Where there are other provisions in laws and administrative regulations on the calculation method and compensation limit, such provisions shall prevail.

Article 834 Where two or more carriers carry through by the same mode of transport, the carrier who entered into a contract with the shipper shall be liable for the whole transport; If the loss occurs in a certain transportation section, the carrier who entered into a contract with the shipper and the carrier in that section shall bear joint and several liabilities.

Article 835 If the goods were lost in the course of transportation due to force majeure and the freight was not collected, the carrier shall not demand payment of the freight; If the freight has been collected, the shipper may request to return it. Where there are other provisions in the law, such provisions shall prevail.

Article 836 Where the shipper or consignee fails to pay the freight, storage fee or other expenses, the carrier shall have a lien on the corresponding transported goods, unless otherwise agreed by the parties.

Article 837 Where the consignee is unknown or refuses to take delivery of the goods without justifiable reasons, the carrier may place the goods in escrow according to law.

Section 4 Multimodal Transport Contract

Article 838 The multimodal transport operator shall be responsible for performing or organizing the performance of the multimodal transport contract, enjoy the rights and undertake the obligations of the carrier for the whole journey of transport.

Article 839 A multimodal transport operator may agree on mutual responsibilities with the carriers participating in the multimodal transport for each section of the multimodal transport contract; However, this agreement does not affect the obligations of multimodal transport operators for the whole journey.

Article 840th The multimodal transport operator shall issue a multimodal transport document upon receipt of the goods delivered by the shipper. According to the shipper’s requirements, multimodal transport documents can be negotiable or non-negotiable.

Article 841 Where the loss of the multimodal transport operator is caused by the fault of the shipper when consigning the goods, the shipper shall be liable for compensation even if the multimodal transport document has been transferred by the shipper.

Article 842 Where the damage or loss of the goods occurred in a certain section of multimodal transport, the liability and limitation of liability of the multimodal transport operator shall be governed by the relevant laws and regulations regulating the mode of transport in that section; If the transport section where the goods are damaged or lost cannot be determined, it shall be liable for compensation in accordance with the provisions of this chapter.

Chapter 20 Technology Contract

Section 1 General Provisions

Article 843 A technology contract is a contract concluded by the parties for technology development, transfer, licensing, consultation or service, which establishes their mutual rights and obligations.

Article 844 The conclusion of a technology contract shall be conducive to the protection of intellectual property rights and the progress of science and technology, and promote the research and development, transformation, application and popularization of scientific and technological achievements.

Article 845 The contents of a technology contract generally include the name of the project, the content, scope and requirements of the subject matter, the plan, place and method of performance, the confidentiality of technical information and materials, the ownership of technical achievements and the distribution method of benefits, the acceptance criteria and methods, and the interpretation of terms and terms.

Technical background information, feasibility study and technical evaluation report, project task book and plan, technical standards, technical specifications, original design and process documents, and other technical documents related to the performance of the contract can be used as an integral part of the contract according to the agreement of the parties.

Where a technology contract involves a patent, it shall indicate the name of the invention-creation, the applicant and patentee of the patent, the date of application, the application number, the patent number and the validity period of the patent right.

Article 846 The method of payment of the price, remuneration or use fee of a technology contract shall be agreed upon by the parties, and may be lump sum payment or lump sum payment, or royalty payment or royalty payment with additional advance entry fee.

If it is agreed to pay the royalty, the royalty may be calculated according to a certain proportion of the product price, the new output value, profit or product sales after the implementation of the patent and the use of technical secrets, or in other agreed ways. The proportion of royalty payment can be fixed, increasing year by year or decreasing year by year.

Where royalty payment is agreed, the parties may agree on the method of consulting relevant accounting accounts.

Article 847 Where the right to use or transfer a technical achievement of a post belongs to a legal person or an organization without legal personality, the legal person or organization without legal personality may conclude a technical contract for the technical achievement of the post. When a legal person or an unincorporated organization enters into a technology contract to transfer the technical achievements of the post, the person who completed the technical achievements of the post shall have the priority to be transferred under the same conditions.

The technical achievements of the post are the technical achievements made by performing the tasks of a legal person or an unincorporated organization, or mainly using the material and technical conditions of a legal person or an unincorporated organization.

Article 848 The right to use and transfer a non-post technological achievement belongs to the individual who has completed the technological achievement, and the individual who has completed the technological achievement may conclude a technical contract for the non-post technological achievement.

Article 849 An individual who has completed a technological achievement shall have the right to state in the relevant technical achievement documents that he is the person who completed the technological achievement and the right to obtain honorary certificates and awards.

Article 850 A technology contract that illegally monopolizes technology or infringes on the technological achievements of others is invalid.

Section 2 Technology Development Contract

Article 851 A technology development contract is a contract concluded between the parties for the research and development of new technologies, new products, new processes, new varieties or new materials and their systems.

Technology development contracts include entrusted development contracts and cooperative development contracts.

A technology development contract shall be in written form.

Contracts concluded between the parties for the transformation of scientific and technological achievements with practical value shall refer to the relevant provisions of applicable technology development contracts.

Article 852 The client of a commissioned development contract shall pay the research and development funds and remuneration, provide technical data, put forward the research and development requirements, complete the cooperation matters and accept the research and development results in accordance with the agreement.

Article 853 The developer of a commissioned development contract shall formulate and implement a research and development plan in accordance with the contract, rationally use the research and development funds, complete the research and development work on schedule, deliver the research and development results, provide relevant technical data and necessary technical guidance, and help the client master the research and development results.

Article 854 Where a party to a commissioned development contract violates the contract and causes stagnation, delay or failure in research and development, it shall be liable for breach of contract.

Article 855 The parties to a cooperative development contract shall make investment in accordance with the agreement, including investment in technology, participation in research and development in a division of labor, and cooperation in research and development.

Article 856 Where the parties to a cooperative development contract violate the contract and cause stagnation, delay or failure in research and development, they shall be liable for breach of contract.

Article 857 Where the technology that is the subject of a technology development contract has been made public by others, thus rendering the performance of the technology development contract meaningless, the parties may terminate the contract.

Article 858 Where the research and development fails or partially fails due to insurmountable technical difficulties during the performance of a technology development contract, the risk shall be agreed upon by the parties; If there is no agreement or the agreement is not clear, and it cannot be determined according to the provisions of Article 510 of this Law, the risks shall be reasonably shared by the parties.

When one party discovers the circumstances specified in the preceding paragraph that may cause the research and development to fail or partially fail, it shall promptly notify the other party and take appropriate measures to reduce losses; If the loss is enlarged due to failure to notify in time and take appropriate measures, it shall be liable for the enlarged loss.

Article 859 Except as otherwise provided by law or agreed by the parties, the right to apply for a patent for an invention-creation that has been commissioned for development belongs to the research developer. If the research developer obtains a patent right, the client may exploit the patent according to law.

Where the research developer assigns the right to apply for a patent, the trustor shall have the priority to be assigned under the same conditions.

Article 860 The right to apply for a patent for an invention-creation completed through cooperative development belongs to all parties involved in the cooperative development. If one party transfers its joint patent application right, the other parties shall have the priority to be assigned under the same conditions. However, unless otherwise agreed by the parties.

If one party to a cooperative development renounces its joint patent application right, it may apply separately by the other party or jointly by other parties, unless otherwise agreed by the parties. If the applicant obtains a patent right, the party who gives up the right to apply for a patent may exploit the patent free of charge.

If one party to a cooperative development does not agree to apply for a patent, the other party or other parties shall not apply for a patent.

Article 861 The right to use, the right to transfer, and the method for distributing the proceeds of the technological secret achievements completed through entrusted development or cooperative development shall be agreed upon by the parties. If there is no agreement or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, the parties concerned shall have the right to use and transfer the same technical scheme before it is granted a patent right. However, the research developer entrusted with the development shall not transfer the research and development achievements to a third party before delivering them to the client.

Section 3 Technology Transfer Contract and Technology Licensing Contract

Article 862 A technology transfer contract is a contract concluded by the obligee who legally owns the technology and assigns the relevant rights of the existing specific patent, patent application and technical secret to others.

A technology licensing contract is a contract concluded by the right holder who legally owns the technology and licenses the relevant rights of the existing specific patents and technical secrets to others for implementation and use.

The provisions in the technology transfer contract and technology licensing contract on providing special equipment and raw materials for the implementation of technology or providing relevant technical consultation and technical services are part of the contract.

Article 863 Technology transfer contracts include contracts for the transfer of patent rights, the transfer of patent application rights and the transfer of technical secrets.

Technology licensing contracts include patent licensing, technology secret licensing and other contracts.

Technology transfer contracts and technology licensing contracts shall be in written form.

Article 864 A technology transfer contract and a technology licensing contract may stipulate the scope of exploitation of patents or use of technical secrets, but they shall not restrict technological competition and development.

Article 865 A patent licensing contract is only valid within the duration of the patent right. Where the term of validity of the patent right expires or the patent right is declared invalid, the patentee may not conclude a patent licensing contract with others for the patent.

Article 866 The licensor of a patent licensing contract shall, in accordance with the agreement, license the licensee to exploit the patent, deliver the technical materials related to the exploitation of the patent, and provide necessary technical guidance.

Article 867 The licensee of a patent exploitation license contract shall exploit the patent in accordance with the agreement, and shall not license a third party other than the agreement to exploit the patent and pay the royalties in accordance with the agreement.

Article 868 The transferor of a technology secret transfer contract and the licensor of a technology secret use license contract shall provide technical information, provide technical guidance, ensure the practicability and reliability of the technology and undertake the obligation of confidentiality in accordance with the agreement.

The confidentiality obligation stipulated in the preceding paragraph does not restrict the licensor from applying for a patent, unless otherwise agreed by the parties.

Article 869 The transferee of a technology secret transfer contract and the licensee of a technology secret license contract shall use the technology in accordance with the agreement, pay the transfer fee and royalties, and undertake the obligation of confidentiality.

Article 870 The transferor of a technology transfer contract and the licensor of a technology licensing contract shall ensure that they are the legitimate owners of the technology provided, and that the technology provided is complete, error-free and effective, and can achieve the agreed objectives.

Article 871 The transferee of a technology transfer contract and the licensee of a technology licensing contract shall, in accordance with the agreed scope and time limit, undertake the obligation to keep confidential the undisclosed secret parts of the technology provided by the transferor and licensor.

Article 872 Where a licensor fails to license the technology in accordance with the agreement, it shall return part or all of the royalties and bear the liability for breach of contract; Where the patent is exploited or the technical secret is used beyond the agreed scope, and the third party is allowed to exploit the patent or use the technical secret without authorization in violation of the agreement, it shall stop the breach of contract and bear the liability for breach of contract; Anyone who violates the agreed confidentiality obligation shall bear the liability for breach of contract.

Where the transferor is liable for breach of contract, the provisions of the preceding paragraph shall apply mutatis mutandis.

Article 873 Where the licensee fails to pay the royalties as agreed, it shall pay the royalties and pay the liquidated damages as agreed. Those who fail to pay the royalties or liquidated damages shall stop exploiting patents or using technical secrets, return technical data and bear the liability for breach of contract; Where the exploitation of the patent or the use of the technical secret exceeds the agreed scope, and a third party is allowed to exploit the patent or use the technical secret without the consent of the licensor, it shall stop the breach of contract and bear the liability for breach of contract; Anyone who violates the agreed confidentiality obligation shall bear the liability for breach of contract.

The transferee shall be liable for breach of contract by referring to the provisions of the preceding paragraph.

Article 874 Where the transferee or licensee infringes upon the lawful rights and interests of others by exploiting the patent or using the technical secret as agreed, the transferor or licensor shall bear the responsibility, unless otherwise agreed by the parties.

Article 875 The parties may, in accordance with the principle of mutual benefit, stipulate in the contract the method of sharing the technological achievements of the subsequent improvement of the exploitation of the patent and the use of technical secrets; If there is no agreement or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, one party shall have no right to share the technological achievements of subsequent improvement.

Article 876 The transfer and licensing of the exclusive right to layout design of integrated circuits, the right to new varieties of plants, the copyright of computer software and other intellectual property rights shall be governed by the relevant provisions of this section.

Article 877 Where laws and administrative regulations provide otherwise for technology import and export contracts or patents or patent application contracts, such provisions shall prevail.

Section 4 Technical Consulting Contract and Technical Service Contract

Article 878 A technical consultation contract is a contract concluded by one party with technical knowledge to provide the other party with feasibility demonstration, technical prediction, special technical investigation, analysis and evaluation report, etc. on a specific technical project.

A technical service contract is a contract concluded by one party to solve specific technical problems for the other party with technical knowledge, excluding contracting contracts and construction project contracts.

Article 879 The client of a technical consulting contract shall clarify the consulting issues in accordance with the agreement, provide technical background materials and relevant technical materials, accept the work results of the agent, and pay remuneration.

Article 880 The trustee of a technical consulting contract shall complete the consulting report or answer questions within the agreed time limit, and the consulting report submitted shall meet the agreed requirements.

Article 881 Where the client of a technical consulting contract fails to provide the necessary information as agreed, thus affecting the progress and quality of the work, or fails to accept the work results or fails to accept them within the time limit, the remuneration paid shall not be recovered, and the unpaid remuneration shall be paid.

If the trustee of a technical consulting contract fails to submit the consulting report on time or the consulting report submitted does not conform to the agreement, it shall bear the liability for breach of contract such as reducing or exempting remuneration.

Unless otherwise agreed by the parties, the losses caused by the decision made by the client of a technical consulting contract according to the consulting report and opinions of the agent that meet the agreed requirements shall be borne by the client.

Article 882 The client of a technical service contract shall provide working conditions, complete cooperation matters, accept the work results and pay remuneration in accordance with the agreement.

Article 883 The trustee of a technical service contract shall complete the service project, solve the technical problems, ensure the quality of the work and impart the knowledge to solve the technical problems in accordance with the agreement.

Article 884 Where the client of a technical service contract fails to perform its contractual obligations or the performance of the contractual obligations does not conform to the agreement, which affects the progress and quality of the work, and refuses to accept the work results or fails to accept them within the time limit, the remuneration paid shall not be recovered, and the unpaid remuneration shall be paid.

If the trustee of a technical service contract fails to complete the service work as agreed, he shall bear the liability for breach of contract such as exemption from remuneration.

Article 885 During the performance of a technical consulting contract or a technical service contract, the new technical achievements made by the agent by using the technical data and working conditions provided by the client belong to the agent. New technological achievements made by the trustor using the work achievements of the trustee belong to the trustor. Unless otherwise agreed by the parties, such agreement shall prevail.

Article 886 Where there is no agreement or unclear agreement on the burden of the expenses required for the normal work of the trustee in the technical consulting contract and technical service contract, it shall be borne by the trustee.

Article 887 Where there are other provisions in laws and administrative regulations on technical intermediary contracts and technical training contracts, such provisions shall prevail.

Chapter XXI Custody Contract

Article 888 A custody contract is a contract whereby the depository keeps the deposit delivered by the depositor and returns it.

Where the depositor goes to the custodian to engage in shopping, dining, accommodation and other activities, and stores the goods in a designated place, it shall be regarded as custody, unless the parties have otherwise agreed or have other trading habits.

Article 889 The depositor shall pay the safekeeping fee to the custodian as agreed.

If the parties have not agreed on the storage fee or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, it shall be regarded as free storage.

Article 890 A custody contract shall be established upon delivery of the deposit, unless otherwise agreed by the parties.

Article 891 Where the depositor delivers the deposit to the depository, the depository shall issue a deposit certificate, unless there are other trading habits.

Article 892 The depository shall properly keep the deposit.

The parties may agree on the place or method of storage. Except in an emergency or to safeguard the interests of the depositor, the place or method of storage shall not be changed without authorization.

Article 893 Where the deposit delivered by the depositor is defective or special storage measures need to be taken according to the nature of the deposit, the depositor shall inform the depository of the relevant information. If the depositor fails to inform, thus causing losses to the deposit, the depository shall not be liable for compensation; If the custodian suffers losses as a result, the depositor shall be liable for compensation, unless the custodian knows or should know and fails to take remedial measures.

Article 894 The depository may not transfer the deposit to a third person for safekeeping, unless otherwise agreed by the parties.

Where the depository, in violation of the provisions of the preceding paragraph, transfers the deposit to a third person for safekeeping, thus causing losses to the deposit, it shall be liable for compensation.

Article 895 The depository shall not use or permit a third party to use the deposit, unless otherwise agreed by the parties.

Article 896 Where a third party claims the right to the deposit, the depository shall perform the obligation to return the deposit to the depositor in addition to taking measures for preservation or enforcement according to law.

If a third party brings a lawsuit against the depository or applies for seizure of the deposit, the depository shall promptly notify the depositor.

Article 897 Where the safekeeping article is damaged or lost due to improper safekeeping by the safekeeping party, the safekeeping party shall be liable for compensation. However, if the unpaid custodian proves that he has no intention or gross negligence, he shall not be liable for compensation.

Article 898 Where a depositor deposits currency, securities or other valuables, it shall make a declaration to the depository, and the depository shall accept or seal it up; If the depositor fails to make a statement, after the goods are damaged or lost, the depositor may make compensation according to the general goods.

Article 899 The depositor may collect the deposit at any time.

If the parties have not agreed on the storage period or the agreement is unclear, the depository may request the depositor to collect the deposit at any time; If the storage period is agreed, the depository may not ask the depositor to collect the deposit in advance without special reasons.

Article 900 Where the storage period expires or the depositor receives the deposit in advance, the depository shall return the original and its fruits to the depositor.

Article 901 Where a depository keeps money, it may return the same kind and quantity of money; Where other substitutes are kept, the goods of the same kind, quality and quantity may be returned as agreed.

Article 902 For a paid safekeeping contract, the depositor shall pay the safekeeping fee to the custodian within the agreed time limit.

If the time limit for payment is not prescribed or clearly prescribed by the parties, and it cannot be determined according to the provisions of Article 510 of this Law, the payment shall be made at the same time as the deposit is collected.

Article 903 Where the depositor fails to pay the safekeeping fee or other fees as agreed, the depository shall have a lien on the deposit, unless otherwise agreed by the parties.

Chapter XXII Warehousing Contract

Article 904 A warehousing contract is a contract in which the depository stores the goods delivered by the depositor and the depositor pays the warehousing fee.

Article 905 A warehousing contract is established when the depository and the depositor agree on their intentions.

Article 906 Where inflammable, explosive, toxic, corrosive, radioactive and other dangerous goods or perishable goods are stored, the depositor shall explain the nature of the goods and provide relevant information.

If the depositor violates the provisions of the preceding paragraph, the depository may reject the goods or take corresponding measures to avoid losses, and the expenses thus incurred shall be borne by the depositor.

Where a custodian stores inflammable, explosive, toxic, corrosive, radioactive and other dangerous goods, it shall have corresponding storage conditions.

Article 907 The depository shall, in accordance with the agreement, check and accept the warehousing goods. If the warehouser finds that the warehousing goods are not in conformity with the agreement during the acceptance, it shall promptly notify the depositor. If the variety, quantity and quality of the stored goods do not conform to the agreement after the acceptance by the depository, the depository shall be liable for compensation.

Article 908 Where the depositor delivers the warehoused goods, the depository shall issue certificates such as warehouse receipts and warehouse receipts.

Article 909 The depository shall sign or seal the warehouse receipt. Warehouse receipts include the following items:

(1) The name and domicile of the depositor;

(2) The variety, quantity, quality, packaging, number of pieces and marks of the stored goods;

(three) the loss standard of the stored goods;

(4) storage places;

(5) Storage period;

(6) storage fees;

(7) If the warehouse goods have been insured, the insured amount, duration and the name of the insurer;

(eight) the person, place and date of issuance.

Article 910 A warehouse receipt is a voucher for picking up the stored goods. Where the depositor or the holder of the warehouse receipt endorses the warehouse receipt and is signed or sealed by the depository, the right to take delivery of the goods may be transferred.

Article 911 The depository shall, at the request of the depositor or the holder of the warehouse receipt, allow him to inspect the warehouse goods or take samples.

Article 912 Where the warehouser discovers deterioration or other damage to the warehoused goods, it shall promptly notify the depositor or warehouse receipt holder.

Article 913 Where the warehouser discovers that the warehousing goods are deteriorated or otherwise damaged, which endangers the safety and normal storage of other warehousing goods, he shall urge the depositor or warehouse receipt holder to take necessary measures. In case of emergency, the custodian may make necessary disposal; However, the depositor or warehouse receipt holder shall be informed of the situation in a timely manner afterwards.

Article 914 Where the storage period is not prescribed or clearly prescribed by the parties, the depositor or warehouse receipt holder may take delivery of the goods at any time, and the depository may also request the depositor or warehouse receipt holder to take delivery of the goods at any time, provided that necessary preparation time is given.

Article 915 Upon expiration of the storage period, the depositor or warehouse receipt holder shall take delivery of the stored goods against the warehouse receipt, warehouse receipt, etc. If the depositor or warehouse receipt holder withdraws the goods within the time limit, a storage fee shall be charged; If it is withdrawn in advance, the storage fee will not be reduced.

Article 916 Where the depositor or warehouse receipt holder fails to take delivery of the goods at the expiration of the storage period, the depository may urge him to take delivery within a reasonable period; If the goods are not withdrawn within the time limit, the depository may deposit the goods.

Article 917 Where the goods are damaged or lost due to improper storage during the storage period, the depository shall be liable for compensation. The warehouser shall not be liable for compensation for deterioration or damage caused by the natural nature and packaging of the warehouser itself or the expiration of the effective storage period.

Article 918 Where there are no provisions in this chapter, the relevant provisions of the custody contract shall apply.

Chapter XXIII Entrustment Contract

Article 919 An entrustment contract is a contract in which the principal and the agent agree that the agent shall handle the principal’s affairs.

Article 920 The principal may entrust the agent to handle one or more affairs in particular, or entrust the agent to handle all affairs in general.

Article 921 The trustor shall prepay the expenses for handling the entrusted affairs. The principal shall repay the necessary expenses paid by the trustee for handling the entrusted affairs and pay interest.

Article 922 The agent shall handle the entrusted affairs in accordance with the instructions of the principal. If it is necessary to change the instructions of the client, it shall be approved by the client; If it is difficult to get in touch with the client due to an emergency, the agent shall properly handle the entrusted affairs, but shall report the situation to the client in time afterwards.

Article 923 The agent shall personally handle the entrusted affairs. With the consent of the principal, the agent may delegate. If the sub-entrustment is approved or ratified, the principal may directly instruct the third party to delegate the entrusted affairs, and the trustee shall only be responsible for the appointment and instruction of the third party. If the sub-entrustment is not approved or ratified, the agent shall be responsible for the behavior of the third party who has sub-entrusted; However, in case of emergency, the trustee needs to delegate to a third party in order to safeguard the interests of the principal.

Article 924 The agent shall, at the request of the principal, report the handling of the entrusted affairs. When the entrustment contract is terminated, the agent shall report the results of the entrusted affairs.

Article 925 A contract concluded by the agent in his own name with a third party within the scope authorized by the principal, and if the third party knew the agency relationship between the agent and the principal when concluding the contract, the contract directly binds the principal and the third party; However, unless there is definite evidence that the contract only binds the trustee and the third party.

Article 926 When the agent enters into a contract with a third party in its own name, if the third party is unaware of the agency relationship between the agent and the principal, and the agent fails to perform its obligations to the principal due to the third party’s reasons, the agent shall disclose the third party to the principal, so that the principal may exercise the rights of the agent to the third party. However, unless the third party knew that the client would not conclude the contract when concluding the contract with the trustee.

If the agent fails to perform his obligations to the third party due to the principal’s reasons, the agent shall disclose the principal to the third party, so the third party may choose the agent or the principal as the counterpart to claim his rights, but the third party may not change the selected counterpart.

If the trustor exercises the rights of the trustee against the third party, the third party may claim its defense against the trustee from the trustor. If the third party chooses the trustor as its counterpart, the trustor may claim its defense against the trustee and the trustee’s defense against the third party.

Article 927 Property acquired by the agent in handling the entrusted affairs shall be handed over to the principal.

Article 928 Where the agent completes the entrusted affairs, the principal shall pay remuneration to him as agreed.

If the entrustment contract is dissolved or the entrusted affairs cannot be completed due to reasons not attributable to the trustee, the principal shall pay the corresponding remuneration to the trustee. Unless otherwise agreed by the parties, such agreement shall prevail.

Article 929 Where a paid entrustment contract causes losses to the principal due to the fault of the agent, the principal may claim compensation for the losses. In a gratuitous entrustment contract, if the principal suffers losses due to the intentional or gross negligence of the agent, the principal may request compensation for the losses.

If the trustee exceeds his authority and causes losses to the principal, he shall compensate for the losses.

Article 930 When handling the entrusted affairs, the agent may claim compensation from the principal for losses due to causes not attributable to him.

Article 931 Subject to the consent of the agent, the principal may entrust a third person other than the agent to handle the entrusted affairs. If losses are caused to the trustee, the trustee may request compensation from the principal.

Article 932 Where two or more agents jointly handle the entrusted affairs, they shall be jointly and severally liable to the principal.

Article 933 The principal or the agent may terminate the entrustment contract at any time. If the other party suffers losses due to the termination of the contract, except for reasons not attributable to the party concerned, the party who terminates the contract without compensation shall compensate the direct losses caused by the improper termination time, and the party who terminates the contract with compensation shall compensate the other party for the direct losses and the benefits that can be obtained after the contract is performed.

Article 934 Where the trustor dies or terminates, or the trustee dies or loses capacity for civil conduct or terminates, the entrustment contract shall be terminated; However, unless otherwise agreed by the parties or due to the nature of the entrusted affairs, it is not appropriate to terminate it.

Article 935 Where the termination of the entrustment contract will harm the principal’s interests due to the principal’s death or being declared bankrupt or dissolved, the agent shall continue to handle the entrusted affairs before the successor, estate administrator or liquidator of the principal undertakes the entrusted affairs.

Article 936 Where the entrustment contract is terminated due to the trustee’s death, loss of capacity for civil conduct or being declared bankrupt or dissolved, the trustee’s heirs, estate administrators, legal representatives or liquidators shall promptly notify the trustor. If the termination of the entrustment contract will harm the interests of the client, the trustee’s heirs, estate managers, legal representatives or liquidators shall take necessary measures before the client makes the aftermath.

Chapter XXIV Property Service Contract

Article 937 A realty service contract is a contract in which the realty service provider provides the owner with realty services such as the maintenance of buildings and their ancillary facilities, the management and maintenance of environmental sanitation and related order within the realty service area, and the owner pays the realty fee.

Property service providers include property service enterprises and other managers.

Article 938 The contents of a realty service contract generally include terms such as service items, service quality, service fee standards and collection methods, use of maintenance funds, management and use of service premises, service term, and service handover.

The public service commitment made by the realty service provider in favor of the owner is an integral part of the realty service contract.

The realty service contract shall be in written form.

Article 939 The preliminary realty service contract concluded by the construction unit and the realty service provider according to law, and the realty service contract concluded by the owners’ committee and the realty service provider selected by the owners’ congress according to law are legally binding on the owners.

Article 940th Prior to the expiration of the service period stipulated in the preliminary realty service contract concluded by the construction unit and the realty service provider according to law, if the realty service contract concluded by the owners’ committee or the owners and the new realty service provider comes into effect, the preliminary realty service contract shall be terminated.

Article 941 Where a realty service provider entrusts some special service items within the realty service area to a professional service organization or other third party, it shall be responsible to the owner for the special service items.

The realty service provider shall not delegate all the realty services that it should provide to a third person, or delegate all the realty services to a third person after dismantling them.

Article 942 A realty service provider shall, in accordance with the agreement and the nature of the use of the property, properly repair, maintain, clean, afforest and manage the owners’ common parts in the realty service area, maintain the basic order in the realty service area, and take reasonable measures to protect the personal and property safety of the owners.

In violation of laws and regulations on public security, environmental protection and fire protection in the realty service area, the realty service provider shall take reasonable measures in time to stop, report to the relevant administrative departments and assist in handling.

Article 943 The realty service provider shall regularly disclose the service matters, responsible personnel, quality requirements, charging items, charging standards, performance, the use of maintenance funds, the operation and income of the owners’ common parts, etc. to the owners in a reasonable way and report to the owners’ meeting and the owners’ committee.

Article 944 The owner shall pay the property fee to the property service provider as agreed. If the property service provider has provided services in accordance with the agreement and relevant regulations, the owner shall not refuse to pay the property fee on the grounds that he has not accepted or does not need to accept the relevant property services.

If the owner fails to pay the property fee within the time limit in violation of the agreement, the property service provider may urge him to pay it within a reasonable time limit; If the payment is not made within a reasonable period, the property service provider may bring a lawsuit or apply for arbitration.

The property service person shall not stop the power supply, water supply, heat supply and gas supply to urge the payment of property fees.

Article 945 Where an owner decorates a house, he shall inform the realty service provider in advance, observe the reasonable precautions prompted by the realty service provider, and cooperate with him to conduct necessary on-site inspections.

If the owner transfers, rents out the exclusive part of the property, establishes the right of residence or changes the use of the shared part according to law, it shall promptly inform the property service provider of the relevant information.

Article 946 If the owners jointly decide to dismiss the realty service provider in accordance with legal procedures, they may terminate the realty service contract. If it is decided to dismiss, it shall notify the realty service provider in writing 60 days in advance, unless the notice period is otherwise stipulated in the contract.

If the termination of the contract in accordance with the provisions of the preceding paragraph causes losses to the property service provider, the owner shall compensate for the losses, except for reasons not attributable to the owner.

Article 947 Where the owners jointly decide to renew their employment according to law before the expiration of the realty service term, they shall renew the realty service contract with the original realty service provider before the expiration of the contract term.

If the realty service provider does not agree to renew the employment before the expiration of the realty service period, it shall notify the owner or the owners’ committee in writing 90 days before the expiration of the contract period, unless the notice period is otherwise stipulated in the contract.

Article 948 After the expiration of the realty service term, if the owner fails to make a decision to renew or hire another realty service provider according to law, and the realty service provider continues to provide realty service, the original realty service contract shall remain valid, but the service term is indefinite.

The parties may terminate the indefinite property service contract at any time, but shall notify the other party in writing 60 days in advance.

Article 949 Upon the termination of the realty service contract, the original realty service provider shall withdraw from the realty service area within the agreed time limit or within a reasonable time limit, return the realty service premises, related facilities and relevant materials necessary for realty service to the owners’ committee, the owner who decides to manage by himself or the person designated by him, cooperate with the new realty service provider in the handover work, and truthfully inform the use and management status of the property.

If the original property service provider violates the provisions of the preceding paragraph, he may not request the owner to pay the property fee after the termination of the property service contract; If losses are caused to the owner, it shall compensate for the losses.

Article 950 After the termination of the realty service contract, before the new realty service provider selected by the owner or the owners’ meeting or the owner who decides to manage it by himself takes over, the original realty service provider shall continue to handle the realty service matters, and may request the owner to pay the realty fee for the period.

Chapter 25 Contract for Discipline Inspection

Article 951 A brokerage contract is a contract in which the broker engages in trade activities for the client in his own name and the client pays remuneration.

Article 952 Expenses incurred by the trustee-trader in handling the entrusted affairs shall be borne by the trustee-trader, unless otherwise agreed by the parties.

Article 953 Where the trustee-trader is in possession of the entrusted object, it shall properly keep the entrusted object.

Article 954 Where the consignor is defective or liable to rot or deteriorate when delivered to the trustee-trader, the trustee-trader may dispose of the consignor with the consent of the trustor; If it is impossible to get in touch with the client in time, the trustee-trader may reasonably punish it.

Article 955 Where the trustee-trader sells below the price specified by the trustor or buys above the price specified by the trustor, it shall obtain the consent of the trustor; If the trustee-trader compensates the difference without the consent of the trustor, the transaction shall be effective for the trustor.

Where the trustee-trader sells at a price higher than that specified by the trustor or buys at a price lower than that specified by the trustor, the remuneration may be increased as agreed; If there is no agreement or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, the interest belongs to the principal.

If the client has special instructions on the price, the trustee-trader shall not sell or buy against the instructions.

Article 956 Where the trustee-trader sells or buys a commodity with a market price, the trustee-trader may act as the buyer or the seller himself, unless the trustor expresses the contrary intention.

The trustee-trader may still request the client to pay remuneration under the circumstances specified in the preceding paragraph.

Article 957 Where the trustee-trader buys the entrusted object in accordance with the agreement, the trustor shall receive it in time. If the trustor refuses to accept the consignment without justifiable reasons after being urged by the trustee-trader, the trustee-trader may deposit the entrusted property according to law.

If the consignor cannot sell or the consignor withdraws from selling, and the consignor refuses to take back or dispose of the consignor after being urged by the trustee-trader, the trustee-trader may deposit the consignor according to law.

Article 958 Where the trustee-trader enters into a contract with a third party, the trustee-trader shall directly enjoy the rights and assume the obligations under the contract.

Where a third party fails to perform its obligations, thereby causing damage to the trustor, the trustee-trader shall be liable for compensation, unless otherwise agreed between the trustee-trader and the trustor.

Article 959 Where the trustee-trader has completed or partially completed the entrusted affairs, the trustor shall pay corresponding remuneration to him. If the trustor fails to pay the remuneration within the time limit, the trustee-trader shall have a lien on the entrusted object, unless otherwise agreed by the parties.

Article 960th Where there are no provisions in this chapter, the relevant provisions of the agency contract shall be applied by reference.

Chapter 26 Intermediary Contract

Article 961 An intermediary contract is a contract in which the intermediary reports to the client the opportunity to conclude a contract or provides media services for concluding a contract, and the client pays the remuneration.

Article 962 An intermediary shall truthfully report to the principal the matters relating to the conclusion of a contract.

Where an intermediary intentionally conceals important facts related to the conclusion of a contract or provides false information, thereby harming the interests of the client, it shall not request payment of remuneration and shall be liable for compensation.

Article 963 Where the intermediary facilitates the formation of a contract, the principal shall pay the remuneration as agreed. If there is no agreement or unclear agreement on the remuneration of the intermediary, and it cannot be determined according to the provisions of Article 510 of this Law, it shall be reasonably determined according to the intermediary’s services. If the intermediary provides media services for concluding a contract, the parties to the contract shall bear the remuneration of the intermediary equally.

If the intermediary facilitates the establishment of the contract, the expenses of the intermediary activities shall be borne by the intermediary.

Article 964 Where an intermediary fails to facilitate the formation of a contract, it may not request payment of remuneration; However, the client may be requested to pay the necessary expenses for engaging in intermediary activities as agreed.

Article 965 Where the principal, after accepting the services of the intermediary, makes use of the trading opportunities or media services provided by the intermediary to bypass the intermediary and directly conclude a contract, it shall pay remuneration to the intermediary.

Article 966 Where there are no provisions in this chapter, the relevant provisions of the agency contract shall be applied by reference.

Chapter 27 Partnership Contract

Article 967 A partnership contract is an agreement between two or more partners to share interests and risks for the common cause.

Article 968 Partners shall perform their capital contribution obligations in accordance with the agreed mode, amount and payment period.

Article 969 The capital contribution of a partner, the income lawfully obtained from the partnership affairs and other property belong to the partnership property.

Before the termination of the partnership contract, the partners may not request the division of the partnership property.

Article 970 Where a partner makes a decision on partnership affairs, it shall be unanimously agreed by all partners, unless otherwise stipulated in the partnership contract.

Partnership affairs shall be jointly carried out by all partners. In accordance with the provisions of the partnership contract or the decisions of all partners, one or more partners may be entrusted to carry out partnership affairs; Other partners no longer carry out partnership affairs, but have the right to supervise the implementation.

Where the partners perform partnership affairs separately, the partners who perform the partnership affairs may raise objections to the affairs performed by other partners; After raising an objection, the other partners shall suspend the execution of the transaction.

Article 971 A partner may not ask for remuneration for performing partnership affairs, unless otherwise agreed in the partnership contract.

Article 972 Profit distribution and loss sharing of a partnership shall be handled in accordance with the provisions of the partnership contract; If the partnership contract is not stipulated or clearly stipulated, it shall be decided by the partners through consultation; If negotiation fails, the partners shall allocate and share the investment in proportion to the paid-in capital; If the proportion of capital contribution cannot be determined, it shall be equally distributed and shared by the partners.

Article 973 Partners shall be jointly and severally liable for the debts of the partnership. A partner who pays off more than his share of the partnership debts has the right to recover from other partners.

Article 974 Unless otherwise agreed in the partnership contract, if a partner transfers all or part of his share of property to a person other than the partner, it must be unanimously agreed by the other partners.

Article 975 Creditors of a partner may not subrogate to the rights enjoyed by the partner in accordance with the provisions of this Chapter and the partnership contract, except for the right to claim for the distribution of benefits enjoyed by the partner.

Article 976 If the partnership term is not prescribed or clearly prescribed by the partners and cannot be determined according to the provisions of Article 510 of this Law, it shall be regarded as an indefinite partnership.

When the partnership term expires, the partners continue to carry out the partnership affairs, and if the other partners do not raise any objection, the original partnership contract will remain valid, but the partnership term is indefinite.

A partner may terminate the indefinite partnership contract at any time, but shall notify other partners before a reasonable period.

Article 977 Where a partner dies, loses capacity for civil conduct or terminates, the partnership contract shall be terminated; However, unless otherwise agreed in the partnership contract or due to the nature of the partnership affairs, it is not appropriate to terminate it.

Article 978 After the termination of the partnership contract, if the partnership property is surplus after paying the expenses arising from the termination and paying off the partnership debts, it shall be distributed according to the provisions of Article 972 of this Law.

Part III Quasi-contract

Chapter 28 negotiorum gestio

Article 979 Where an administrator manages other people’s affairs without legal or agreed obligations in order to avoid the loss of other people’s interests, he may request the beneficiary to repay the necessary expenses incurred in managing the affairs; If the manager suffers losses due to management affairs, he may request the beneficiary to give appropriate compensation.

If the management affairs do not conform to the true meaning of the beneficiary, the administrator shall not enjoy the rights stipulated in the preceding paragraph; However, unless the true intention of the beneficiary violates the law or public order and good customs.

Article 980 The administrator’s management of affairs does not fall under the circumstances specified in the preceding article, but the beneficiary enjoys the management interests, and the beneficiary shall bear the obligations specified in the first paragraph of the preceding article to the administrator within the scope of the interests obtained.

Article 981 In managing the affairs of others, the administrator shall adopt a method that is beneficial to the beneficiaries. If the interruption of management is unfavorable to the beneficiaries, it shall not be interrupted without justifiable reasons.

Article 982 Where an administrator manages other people’s affairs and can notify the beneficiary, he shall notify the beneficiary in time. If the managed affairs do not need urgent treatment, they shall wait for the instructions of the beneficiary.

Article 983 After the management is completed, the administrator shall report the management affairs to the beneficiary. Property acquired by the administrator in managing affairs shall be handed over to the beneficiary in a timely manner.

Article 984 Where the administrator’s management affairs are ratified by the beneficiary afterwards, the relevant provisions of the entrustment contract shall apply from the beginning of the management affairs, unless the administrator expresses otherwise.

Chapter 29 Unjust enrichment

Article 985 Where the beneficiary has no legal basis to obtain improper benefits, the person who has suffered losses may request the beneficiary to return the benefits obtained, except in any of the following circumstances:

(1) Payment for fulfilling moral obligations;

(2) Liquidation before the maturity of the debt;

(three) knowing that there is no obligation to pay.

Article 986 Where the beneficiary did not know and should not have known that the obtained interest had no legal basis, and the obtained interest no longer existed, he was not obligated to return the interest.

Article 987 Where the beneficiary knows or should know that the obtained benefits have no legal basis, the person who suffers losses may request the beneficiary to return the benefits he has obtained and compensate the losses according to law.

Article 988 Where the beneficiary has transferred the obtained benefits to a third person for free, the person who has suffered losses may request the third person to undertake the obligation of return within the corresponding scope.

　　[Global Network Reporter Hou Jiaxin] Black man Jacob Blake was fired seven times by the police, causing the anger caused by paralysis to spread to American sports. Three Major League Baseball (MLB) games were postponed because the team refused to play; Major League Soccer (MLS) announced the postponement of five games and American Men’s Professional Basketball League (NBA) announced the postponement of three playoff games … …

　　According to a comprehensive report by the British Broadcasting Corporation (BBC) and Reuters, three MLB matches were postponed because the participating teams refused to play. According to reports, Major League Baseball Seattle Mariners, Milwaukee Brewers and Cincinnati Redskins all announced their refusal to attend Wednesday’s game to protest Blake’s violent law enforcement by the police.

　　On the evening of 26th local time, MLB issued a statement saying: "Considering the pain and injury experienced by the Wisconsin community after the shooting of Jacob Blake, we respect the decision of many players not to participate in the competition tonight." The statement also mentioned: "MLB is still United and working hard to change our society, and we will be allies in fighting racism and injustice."

　　In addition, MLS also announced the postponement of five games on the same day. Tennis star Naomi Osaka also announced on social media that she will not play in the 27 th match. She said: "It makes me uncomfortable to watch the police continue to slaughter black people."

　　According to previous reports, the NBA playoffs between Milwaukee Bucks and Orlando Magic scheduled for the afternoon of 26th were suspended because the Bucks refused to play. The NBA immediately announced that all three games of the day were postponed. Subsequently, a number of players tweeted to support the NBA decision and protest against police brutality. James, the star of the Lakers, directly condemned: We demand change! We’ve had enough!

　　All these protests originated from a recent case of police brutality in Wisconsin. On August 23, local time, the police in Kenosha, Wisconsin, USA fired at least 7 shots at the back of an African-American man, causing serious injuries. This incident subsequently led to a large-scale demonstration in the local area.

　　A video widely circulated on local social media shows that on the afternoon of 23rd, when Jacob Blake, a 29-year-old black man, walked to the driver’s seat and opened the door to get on the bus, he was grabbed by two policemen who followed him and fired at least 7 shots at his back at close range. Blake’s three children were sitting in the car at the time of the incident. Blake is seriously injured and is currently being treated in the intensive care unit of the hospital.

　　According to previous news from the US media, Blake’s father revealed to the media that Blake was paralyzed from the waist down. Doctors don’t know whether paralysis is permanent.

On November 16, the new generation of COOPER family was officially launched, which may be the last generation of fuel MINI. The new car continues to be sold in the imported way, including three-door, five-door and JCW models. The price range is 23.38-31 800 yuan

From the appearance, the design language of the new MINI COOPER as a whole and the MINI electric version has always been the same. The closed air intake grille has become a grid shape, and the round headlights and big mouth middle net have been retained, which is very recognizable. The "Racer" and "Artist" carry the same power combination, and the appearance adds a JCW sports kit. The wide air intake and the radiator at the tail are designed with a fighting atmosphere, and the JCW logo can be seen everywhere inside and outside the car. In addition, the "Racer" can also choose a chili red roof.

From the side, the new car is equipped with two-tone wheels, which are sporty and available from 16 inches to 18 inches. The rear of the car is equipped with a new triangular taillight design, connected by a black through-trim trim in the middle, and equipped with a hidden exhaust pipe below.

The new model adopts an all-black design on the China grid and has a JCW exclusive logo. At the same time, the MINI logo has also been blackened, and the sides are complemented by red decoration, which is more recognizable. In addition, the new car is also equipped with 18-inch double five-spoke wheels and JCW brake calipers. It is worth mentioning that the JCW model also adopts a single exhaust layout in the middle to further enhance the personalized attributes.

In the interior part, the new car is equipped with a 9.4-inch round central control multimedia interactive screen, and adopts a three-spoke type and HUD head-up display. The center console materials also use a lot of environmentally friendly materials. The five-door version of the model adds rear seats and riding space, and sets up a cup holder and a Type-C charging port behind the middle channel armrest. The rear seats of the new car can have a space volume of 923 liters after folding.

The new car configuration has been greatly improved, and it will be equipped with UWB digital key, round OLED central control screen, two-way projection ambient light, ABS + DSCi assistance, L2 smart driving assistance, electric adjustment seat, seat massage, mobile phone wireless charging, cute pet Spike intelligent personal assistant, and rich audio-visual entertainment.

In terms of power, the new car continues to provide 1.5T and 2.0T engines for users to choose from. The MINI COOPER C version is equipped with a 1.5T three-cylinder gasoline engine with a maximum power of 115 kW and a peak torque of 230 Nm; the MINI COOPER S is equipped with a 2.0T four-cylinder engine with a maximum power of 150 kW and a peak torque of 300 Nm. The new MINI JCW is equipped with a 2.0T four-cylinder engine with a maximum power of 170 kW and a peak torque of 380 Nm. The acceleration time of 0-100 km/h is 6.1 seconds. The transmission system is matched with a 7-speed dual-clutch transmission.

Recently, the international gold spot and futures market prices have hit record highs, which has aroused widespread concern in the market. On December 4th, new york gold futures and London spot gold both broke through the $2,100 mark per ounce, with new york gold futures hitting a record high of $2,152.3 per ounce and London spot gold hitting a record high of $2,144.68 per ounce.

However, in the following trading days, the price of gold showed a high downward trend, and the upward price appeared to be powerless. As of the close of the 7th, the most active February 2024 gold futures price in the New York Mercantile Exchange gold futures market fell by $1.5 to close at $2,046.4 per ounce.

Some analysts said that considering that the current inflation in the United States is still resilient, it is difficult to start the interest rate cut cycle in the first quarter of next year, and the US bond issuance in the first quarter of next year is still at a historical high, thus limiting the downside of the US bond interest rate, and the gold price may face callback pressure in the short term.

"In the short term, we are still cautious." Highfill, chief investment director of UBS Global Wealth Management, explained to the First Financial Reporter that the market’s bet on the Fed’s interest rate cut next year may be over-optimistic, and the hedging premium brought by geopolitical risks may be further digested. In addition, the further rise of gold may need to see the continuous net inflow of funds into gold exchange-traded funds (ETFs).

Vision china diagram

The medium-term prospects are still optimistic.

Nevertheless, Highfill is optimistic about the medium-term prospects of gold. Looking forward to 2024, UBS believes that the gold price will look at $2,250, and the Fed’s narrative will turn to easing and cutting interest rates, which will further open up the upside of gold prices.

"The trend of gold after the Palestinian-Israeli conflict supports our view that gold is an important asset for medium and long-term capital allocation. We believe that in a balanced investment portfolio, the proportion of gold allocation in the middle single digits is appropriate." Highfill thinks that when the price of gold falls below $2,000, it is an opportunity to further invest in gold.

In November, the trend of international gold price first suppressed and then rose. At the beginning of the month, the market’s risk aversion to the Palestinian-Israeli conflict gradually cooled down, and the safe-haven premium of gold began to ebb. Even in the context of the downward fluctuation of the US dollar index, the price of gold still showed a high downward trend. After the safe-haven premium was digested, the downward trend of the US dollar index and US bond interest rates pushed up the price of gold as the inflationary pressure in the United States in October eased more than expected and the superimposed economic momentum slowed down.

On November 14th, data released by the US Department of Labor showed that inflation cooled down more than expected. In October, the consumer price index (CPI) in the United States dropped from 3.7% in the previous month to 3.2%, which was lower than the market expectation of 3.3%. The chain was flat, the smallest increase since July 2022. At the same time, the core CPI excluding food and energy decreased from 4.1% last month to 4.0%, lower than the market’s previous forecast of 4.1%; The chain rose by 0.2%, the smallest increase since July this year.

In October, housing fell to 0.3% month-on-month and 6.7% year-on-year, which is still at a high level. From the historical experience, the rent price involved in housing CPI is often sticky, lagging behind the house price for one to two years. On November 29th, S&P CoreLogic Case-Shiller national house price index data showed that house prices in 20 cities in the United States rose by 3.9% year-on-year in September, and it has been 19 months since the peak in April 2022.

Analysts said that with the Fed raising interest rates and shrinking the table, the 30-year mortgage interest rate in the United States soared to over 7% at the end of October last year, and rose to over 7.0% again in August this year. Under the pressure of high interest rates, the housing breakdown is expected to continue to improve in the fourth quarter, which will further ease inflationary pressures.

The resilience of the labor market is the basis for American residents to maintain their spending power, and it is also the key to the resilience of inflation. Recently, a number of data show that the US job market has obviously cooled down. On December 6th, the American private sector (ADP) employment report, known as "small non-agricultural", showed that the number of new jobs in ADP was lower than expected for four consecutive months in November, and the number of new jobs was revised down in October, while the wage growth rate in November hit a new low in more than two years.

All these have enhanced investors’ expectations for the Fed to cut interest rates next year. In addition, the tone of Fed officials’ speeches has eased recently. In his latest speech, Waller, a Fed governor who has always been "hawkish", mentioned the possibility of starting to cut interest rates after inflation continues to return, which triggered the market’s pricing of early interest rate cuts, driving the real interest rate and the US dollar to fall back at the same time, which boosted the gold price.

Nicky Shiels, metal strategist at MKS PAMP, said: "Gold has become a barometer reflecting the Fed’s interest rate cut expectations and market risk aversion."

Regarding the reasons for the recent rise in gold prices, analysts also believe that there are factors such as the wave of gold purchases by the central bank and the safe-haven premium brought by the geopolitical situation.

Aakash Doshi, head of commodity research in the Americas at Citigroup, said that despite the rapid rise in interest rates, the purchase by central banks was the key reason why the value of gold remained strong last year.

Is there more potential for silver prices to rise?

However, unlike the central bank’s continuous gold purchase fever, the global gold ETF has flowed out of 189 tons since the beginning of the year, and it has shown a net outflow trend for six consecutive quarters, which of course caused some investors’ concerns.

At the same time, analysts said that as the anchor of short-term pricing of gold prices, the US bond interest rate currently lacks the conditions for a downward trend. Therefore, there is a high probability that the price of gold will remain high in the short term.

Suki Cooper, an analyst at Standard Chartered Bank, said: "In the past two years, the gold market has always rushed to the monetary policy shift.Although we expect the Fed’s next move will be to cut interest rates, we don’t think it will happen soon. "

In contrast, analysts believe that,The price of silver is still seriously undervalued. With the improvement of risk appetite, silver is more elastic as a "shadow of gold" than gold and silver. And historically, it has outperformed gold in the gold bull market.

On the 7th, the price of silver futures for delivery in March 2024 closed down 16.9 cents to US$ 24.059 per ounce, and the ratio of gold to silver was 85:1, which was still at a high level in history. Looking back on the trend of gold-silver ratio in recent 50 years,The duration of high gold-silver ratio is limited, and most of the time fluctuates between 40:1 and 60:1.In 2011, the ratio fell to 30:1, and in 1979 it fell below 20:1.

Peter Schiff, chief economist of Euro Pacific Asset Management, said that at the current price, silver is really cheap, the price of silver is obviously undervalued, and the market supply and demand deficit is serious. "I think silver is especially in a good opportunity for allocation, because gold is at a record high, and silver must double to hit a record high. This shows that silver is very cheap. " He said.

Indeed, from the perspective of supply and demand dynamics, according to the latest forecast of Oxford Economic Research Institute, the demand for silver in industrial applications, jewelry production and silverware manufacturing is expected to nearly double in the next 10 years.

In 2022, the demand for silver set a record in all categories. At the same time, the output decreased slightly by 0.6% to 822.4 million ounces, resulting in a market deficit of 237.7 million ounces last year, which is the second consecutive year. The Silver Research Institute predicts that the demand will reach 1.17 billion ounces this year, while the estimated supply is 1.02 billion ounces. Although this will reduce the gap to 142.1 million ounces, it will still be the second largest deficit in more than 20 years.

Text | Ten o’clock movie original

I have seen it in advance, and I haven’t recovered for several days at ten o’clock.

Sometimes my heart is surging, and sometimes my eyes are full of tears.

Every time I think back, I will shed my own tears because of this story of others.

In the comment area,"Sincerity, delicacy and warmth", has become a common feeling for all.

Some people say: after reading it, there is a kind of warmth that goes straight to the heart.

Look, its title has been intimately told to us.

This is a journey of "loss and search", with a beginning and an end-

The story originated from two mothers:

60 years ago, a man namedDu sihengSome of the girls went to orphanages.

Sixty years later, my mother was suffering from Alzheimer’s disease and her consciousness was confused.

But what she is thinking about is the daughter she never saw again in her life.

She went to look for it alone, but she never got what she wanted.

Now, my brother Du Sihan shouldered this heavy burden and went to Inner Mongolia grassland to find his sister.

He never thought that the end he was looking for was not just his sister.

There is also a pure maternal love of "3,000 orphans entering Inner Mongolia".

Film, about a past event.

Three thousand orphans entered Inner Mongolia.

Briefly explain:

In the difficult period of 1960, the south was seriously affected, and a large number of orphans appeared. Facing these helpless children, Inner Mongolia not only undertook a lot of material assistance, but also the herdsmen opened their vast arms. There were almost 3,000 orphans from nursing homes in Shanghai and Changzhou. They took a series of trains going north and crossed more than half of China to Inner Mongolia, and formed a new family with simple and kind herders.

The Grassland at the End of the Sea is directed by Tung shing Yee, starring Chen Baoguo, Masu, Ayanga, Wang Qiang and Luo Yichun.

In ten o’clock’s view, this film is completely different from Tung shing Yee’s past realism and shock.

In "The Grassland at the End of the Sea", what he presents is unprecedented softness and delicacy.

On the way to find it, my brother Du Sihan found a comrade from Inner Mongolia who came to the orphanage that year.

From their mouths, explore the road that my sister walked in the past.

From the distant Shanghai, where the mother’s shadow remains, to the vast grassland with different scenery.

In the yellowed old photo album, in the mouth of the staff who had taken care of orphans in the south, my sister’s face gradually became clear.

That is a stubborn child, always holding a small towel in his hand.

She was not acclimatized and fell ill on the way, and she didn’t get better for a long time.

It is also here that a pair of gentle hands took over the burden of taking care of Du Siheng.

child-care workerRenna Sa(Masu).

It is with these hands that the stubborn Du Siheng’s eyes gradually fell to the land under his feet from looking far away.

Under the loving care, she gradually got better and stronger.

The stubborn Du Siheng also fled again and again.

But she found that no matter how you cross the mountain and the sea, when you turn back, there is someone still waiting for you.

It belongs to Renna Sa’s arms. It is bloodless, but warm as a mother’s arms..

Motherly love, where does it come from and where does it belong?

Is it due to the hardship of pregnancy in October, the firm fetters of blood relatives, or is it born from the feelings raised for many years?

Perhaps for many people, there is always no solution.

But for Renna Sa, once a mother, she will always be a mother.

As long as the mother is there, it will give warmth to the children’s home.

Even if this home is not natural, it is never the most perfect circle in the ideal.

As a mother’s pain, in the film like a breeze:

Renna Sa’s husband is a militia, because he has been away for many years, and his own son Namuhan burned his throat with a high fever when he was a child.

But as a mother, the process of opening her arms to Du Siheng was so simple and natural.

When God pushed the young Du Siheng to her, she just knew:

Taking good care of this child has become a part of her life.

Du Siheng can’t speak Mongolian, and even his own name can’t be understood.

She wrote her daughter’s Chinese name in the booklet she carried with her, and went to class with her daughter to learn the pronunciation of Du Siheng’s Chinese name, hoping to communicate with her daughter in Chinese.

Children in the south can’t get used to the food on the grassland.

Du Siheng took a bite of the greedy milk tofu of his brothers and vomited.

Even with the sweet milk tea, I spilled it on the ground and turned my head and ran.

She is like a wounded little beast. It is unspeakable pain for her to escape from behind.

When he said nothing, Renna Sa knew everything.

She didn’t blame or be disappointed, but let her brother Na Muhan catch up with Du Siheng and bring the injured child back to her mother’s shelter.

It is precisely because this love is not thicker than water, but selfless as the sea, which contains everything.

It also allowed this past event 60 years ago to dispel the painful sensation.

To sprout, grow and heal with feelings again, and replace them.

They say that herders on the grassland believe in fate.

The details that you remember at ten o’clock are also a story about fate.

Yi Deer, her husband, returned from a military vacation and took his wife and children to visit Uncle Oqir, who had no relatives or children.

Yi Deer said that he and Uncle Oqir’s son were once good brothers who grew up together.

When faced with a prairie fire, Uncle Oqir’s son saved his life, but he died in the fire.

The most important person in life has left, and what remains for us is not only loss.

What Du Siheng sees is the tender love that can’t be burned by the fire, and ties the fate with us again.

Little Du Siheng, in the eyes of Yi Deer, may also gradually coincide with the shadow of his former friends.

When family ties take root and sprout, wherever love can touch, it is the warmth of healing.

The maternal love in "The End of the Sea is the Grassland" is the spring breeze of the grassland to melt the rain and heal the scars.

It is also the stubborn recovery of the lost past by the biological maternal love, which never forgets and eventually echoes.

This trip to find relatives implies an unexpected ending.

Don’t worry, you don’t spoil it at ten o’clock.

Only the last scene of the film, it must be said, brought us endless touching.

Renna Sa, a 100-year-old foster mother, stood on the grassland to requite her "sisters" who had never met before.

Two mothers raise a daughter together. They never know each other, but they share a common maternal love.

Start with a search and end with peace of mind.

Love has brought the children so far that it is not just a miracle between two mothers that is finally born.

"Three thousand orphans enter Inner Mongolia", literally three thousand, actually includes tens of thousands of orphans sent to Inner Mongolia.

There are tens of thousands of mothers behind this, separated from their children in the pain of the times.

The children lost a mother, but gained love and protection in the broader national mind.

Here, in more than 500 days, 28 orphans were raised in Guima.

Zhang Fengxian, a heroic mother who adopted six children.

One by one, one alive, one strong.

The source of maternal love is blood.

However, maternal love is passed on from process to process, and finally transcends blood relationship and is passed on to children who are eager for love.

This is its natural place to come and the most natural place to return.

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"Three thousand orphans in Inner Mongolia" has been written into history. Today, it is still a miracle rescue.

And "The Grassland at the End of the Sea", which recorded this history, has also been endowed with unique power by history.

For the audience, when they walk into the cinema, it not only meets our expectations of domestic films.

It is an eternal desire to fill people’s hearts:

After reading it, it seems to be bathed in the love that naturally comes, and my heart becomes soft and open.

This may be the power of warmth.

Bring courage and hope.

We will always be on this road of life, looking for the source of love and the direction of home.