arbitra-tion， the execution of the contract shall be continued except the part which is
under arbit ra-tion.
article 15 applicable law
this contract shall be governed by the laws if the people’s republic of china as tothe
interpretation and performance of the contract.
articl l6 duration
16.1 the contrant os signed on may 8， 1993， by authorized represenatives of botb
par-ties.
after the contract has been signed， the two parties shall apply to their respective
the managing onstructure of the parties or government authorities for apprval. the date
of ap-proval last obtained shall be taken as the date of effectiveness of the contract.
both partfies shallexert their best efforts to obtain the approval within sixty (60)
says and inform the oth-er party by telex and thereafter confirm the same by letter. if
the contract can not come into affect within six (6) months after the date of signing，
both parties are entitlid to consider themselves absolved from the contract.
16.2 tbe contract shall be valid for ten (10) years beginning from the date of its
be-comingeffective， and shall become null and void automatically upon the expiry of the
validity period of the contract.
16.3 the termination of this contract shall not affect in any way the outstanding
claims and the liabilities
existing between the two parties upon the expiry of the validity of the contractand
the debtor shall be kept liable until he fully pays up his debts to the creditor.