Legal basis: Civil Code of People's Republic of China (PRC).
Article 509 The parties shall fully perform their obligations as agreed. The parties shall abide by 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.
Article 563 If the parties fail to achieve the purpose of the contract due to delay in performance or other breach of contract, they may terminate the contract.