Common use of Changes in Policies Clause in Contracts

Changes in Policies. If, after this Agreement takes effect, any government department of China makes any modification to any laws, regulations, orders, statutes, or provisions, including the amendment to, supplement to, or revocation of any of the existing laws, regulations, orders, statutes, or provisions, references to different interpretation on or implementation rules of any of the existing laws, regulations, or provisions (“Modified Provisions”), or enacts new laws, regulations, orders, statutes, or provisions (“New Provisions”), the Modified Provisions or the New Provisions shall apply as follows: 2.3.1 If the Modified Provisions or the New Provisions are more favourable to either Party than applicable laws, regulations, orders, statutes, or provisions in effect on the Effective Date (and will not have any serious or adverse influence on the other Party), the Parties shall apply (if necessary) with the competent authority for obtaining the interests in the Modified Provisions or the New Provisions in time and the Parties shall try their best to cause the such application being approved; or 2.3.2 If the Foreign-owned Enterprise’s economic interests hereunder will be affected seriously or adversely by the Modified Provisions or the New Provisions in a direct or indirect manner, the Parties shall, upon notice to the Operator by the Foreign-owned Enterprise, consult with each other in time to make all necessary modifications to this Agreement so as to maintain and safeguard the Foreign-owned Enterprise’s economic interests hereunder.