The Chinese and foreign parties shall, in accordance with the agreement specified in the contractual joint venture contract, determine the ownership of the venture's property.

中外合作者应当依照合作企业合同的约定确定合作企业财产的归属。

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Article 21 the Chinese and foreign parties shall share earnings or products, undertake risks and losses in accordance with the agreements prescribed in the contractual joint venture contract.

第二十一条中外合作者依照合作企业合同的约定，分配收益或者产品，承担风险和亏损。

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Miss Wang:According to present law of China, a Chinese-foreign contractual joint venture should have a Board of Directors or a joint managerial committee.

王小姐： 按现行法律规定，合作企业应当设立董事会或联合管理委员会。

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