Article 52 of the Civil Code of the People's Republic of China * * * *, a legally established contract shall come into effect upon its establishment, unless otherwise stipulated by law or agreed by the parties.
in accordance with the provisions of laws and administrative regulations, if approval and other procedures are required for concluding a contract, such provisions shall prevail. If the failure to go through the formalities of approval and other procedures affects the effectiveness of the contract, it will not affect the performance of the obligations of approval and other relevant provisions of the contract. If the party that should go through the formalities of examination and approval fails to perform its obligations, the other party may require it 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.