“Industry Valuation Method” means the valuation method selected by the Independent Appraiser in consultation with the Parties, which shall be a valuation method commonly used in international practice in valuing enterprises in the Company’s industry on a going concern basis, but, where the assets or equity interests in question constitute State-owned assets under Applicable Laws, it shall refer to a valuation method which complies with, and satisfies the requirements of Applicable Laws relating to State-owned assets.

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