Legal basis:
Article 502 of the Chinese people's *** and national code, the contract established by law, effective from the time of formation, but the law provides otherwise or the parties agree otherwise. In accordance with the provisions of laws and administrative regulations, the contract should be approved and other formalities, in accordance with its provisions. If the failure to apply for approval or other formalities affects the entry into force of the contract, it shall not affect the validity of the provisions of the contract on the fulfillment of the obligation to apply for approval or other relevant provisions. If the party that should have gone through the formalities of applying for approval, etc., fails to fulfill its obligations, the other party may request it to bear the responsibility of violating such obligations. In accordance with the provisions of laws and administrative regulations, the change, transfer, termination of the contract should be for approval and other procedures, the provisions of the preceding paragraph shall apply.