后知后觉

The formation of this contract, its validity, interpretation, execution and settlement of disputes in connection herewith shall be govened by the PRC laws and regulations

elect to do: to choose deliberately to do sth

a formal word which should not be used where a simple choose will suffice.

parent company      母公司

subsidiary                 子公司

affiliate                    关联公司

delegate                  委托

equity interest         股权

a release of obligations  解除义务

Glossary：

a PRC legal identity       中国法人

articles of association     公司章程

issuance of business licence  颁发营业执照

approving authority         审查机关

force majeure                  不可抗力

registered capital             注册资本

term of the company       经营期限

debt financing                 债务融资

recourse                         追索权

indemnify                       偿付、补偿

scope of business and powers of the company 营业范围

employ， remunerate ，discipline， dismiss

                                    雇佣、酬劳、培训、解雇

land use right                土地使用权

powers of attorney       授权书

guarantee， suretyship，indemnity， mortgage，pledge

                                    担保、保证、偿付、抵押、质押

The first duty of a legislator is to apportion penalties

                                        ——Walter Savage Landor