**ORIGIN      AGRITECH LIMITED**

**CODE      OF CONDUCT**

**1.      **
**Application      of the Code**

**2.**
**Code      Does Not Constitute an Employment Contract**

**3.**
**Conflicts      of Interest**

| **3.1** | **Conflicts                of Interest Prohibited**.                The Company’s policy is to prohibit conflicts of interest unless such                conflicts of interest are otherwise approved or waived according                to the                Company’s policy or applicable laws, rules and regulations. A conflict of                interest occurs when an Employee’s personal interest interferes, or                appears to interfere, with the interests of the Company in any way. |
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| **3.2** | **Identifying                Conflicts of Interest**.                A                conflict of interest can arise when an Employee or a member of his                or her                family takes actions or has interests that may make it difficult                to                perform his or her Company work objectively and effectively. Conflicts                of                interest can also arise when an Employee or a member of his or her                family                receives improper personal benefits as a result of the Employee’s position                in the Company. Such conflicts of interest can undermine an Employee’s                business judgment and responsibility to the Company and threaten                the                Company’s business and reputation. Accordingly, an Employee should avoid                all apparent, potential, and actual conflicts of interest. Further,                an                Employee must communicate to the corporate legal department all potential                and actual conflicts of interest or material transactions or relationships                that reasonably could be expected to give rise to a conflict of interest                or the appearance of such a conflict of interest. The following activities                all generally constitute a conflict of                interest: |
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**3.2.1**
**Corporate      Opportunities**

**3.2.2**
**Loans**

**3.2.3**
**Outside      Activity**

**3.2.4**
**Outside      Employment**

**3.2.5**
**Personal      Interest**

**3.2.6**
**Personal      Investments**

| **3.3** | **Reporting**.                Each Employee must report conflicts of interest to a superior who                he or                she believes is not involved in the matter giving rise to the conflict.                Any Employee who has questions as to whether a conflict of interest                exists                after consulting the Code should contact the corporate legal department                for assistance in making that                determination. |
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**4.**
**Gifts      and Entertainment**

| **4.1** | **General                Policy**.                The Company recognizes that the giving and receiving of gifts and                entertainment is common business practice. However, gifts and                entertainment should never compromise, or appear to compromise, an                Employee’s ability to make objective and fair business decisions. The                Company’s policy is that an Employee may give or receive gifts or                entertainment to or from customers and suppliers only if the gift                or                entertainment could not be viewed as an inducement to any particular                business decision. |
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| **4.2** | **Giving                Gifts and Entertainment**.                An Employee must obtain written permission from the head of his or                her                department before giving any gifts or entertainment on behalf of                the                Company. Furthermore, the Employee must ensure that the expense for                such                gifts or entertainment is properly recorded on the Company’s expense                reports. |
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| **4.3** | **Reporting                Gifts**.                An Employee must accept only appropriate gifts from customers or                suppliers. The Company encourages Employees to submit each such gift                he or                she receives. However, an Employee must submit to his or her department                any gift the objective market value of which exceeds                RMB200. |
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| **4.4** | **Bribes,                Kickbacks and Secret Commissions Prohibited**.                The Company’s policy is to encourage fair transactions. No Employee may                give or receive any bribe, kickback, or secret                commission. |
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**5.**
**Confidentiality**

**6.**
**Fair      Dealing**

**7.**
**Protection      and Proper Use of Company Assets**

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**8.**
**Compliance      with Laws, Rules and Regulations**

| **8.1** | **Generally**.                An Employee must comply fully with all laws, rules and regulations                applying to the Company’s business and its conduct in business matters.                This includes, among other things, laws applying to bribery, kickbacks,                and secret commissions, copyrights, trademarks and trade secrets,                information privacy, insider trading, offering or receiving gifts,                employment harassment, occupational health and safety, false or misleading                financial information or misuse of corporate assets. The fact that                certain                laws, rules or regulations are not enforced in practice, or that                the                violation of such laws, rules or regulations is not subject to public                criticism or censure, will not excuse any illegal action by an Employee.                The Company expects each Employee to understand with all laws, rules                and                regulations that apply to his or her position at the Company. Where                an                Employee has a doubt as to the legality of a given action or the                proper                course of conduct, that Employee must immediately consult the corporate                legal department. Aside from strictly legal considerations, Employees                must                at all times act honestly and maintain the highest standards of business                conduct and ethics, consistent with the professional image of the                Company. |
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| **8.2** | **Insider                Trading**.                United States federal and state law prohibits the use of “material inside                information” when trading in or recommending Company securities. In                accordance with applicable United States federal and state law, no                Employee may engage in transactions in Company stock (whether for                his or                her own account, for the Company’s account or otherwise) while in                possession of material inside information (“Insider                Trading”)                relating to Origin Agritech Limited. Furthermore, no Employee who                is in                possession of material inside information may communicate such information                to third parties who may use such information in the decision to                purchase                or sell Company stock (“Tipping”).                These restrictions also apply to securities of other companies if                an                Employee learns of material inside information in the course of his                or her                duties for the Company. In addition to violating Company policy,                Insider                Trading and Tipping are illegal. What constitutes “material inside                information” is a complex legal question, but is generally considered to                be information not available to the general public, which a reasonable                investor contemplating a purchase of Company stock would be substantially                likely to take into account in making his or her investment decision.                Such                information includes information relating to a stock split and other                actions relating to capital structure, major management changes,                contemplated acquisitions or divestitures, and information concerning                earnings or other financial information. Such information continues                to be                “inside” information until it is disclosed to the general public. Any                person who is in possession of material inside information is deemed                to be                an “insider.” This would include directors, officers, Employees                (management and non-management), as well as spouses, friends or brokers                who may have acquired such information directly or indirectly from                an                insider “tip.” Substantial penalties may be assessed against people who                trade while in possession of material inside information and can                also be                imposed upon companies and so called controlling persons such as                officers                and directors, who fail to take appropriate steps to prevent or detect                insider trading violations by their employees or subordinates. To                avoid                severe consequences, Employees should review this policy before trading                in                securities and consult with the corporate legal department if any                doubts                exist as to what constitutes “material inside                information.” |
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**9.**
**Reporting      Illegal or Unethical Behavior**

| **9.1** | **Obligation                to Report Violations**.                Any Employee who is aware of any illegal or unethical behavior at                the                Company or in connection with its business, or who believes that                an                applicable law, rule or regulation or the Code has been violated,                must                promptly report the matter to the corporate legal department. |
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| **9.2** | **Company                to Investigate Reported Violations**.                The Company will investigate promptly all reports of violations and,                if                appropriate, remedy the violation. If legally required, the Company                will                also immediately report the violation to the proper governmental                authority. An Employee must cooperate with the Company to ensure                that                violations are promptly identified and resolved. |
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| **9.3** | **Employees                Who Report Violations Will Be Protected from                Retaliation**.                The Company shall protect the confidentiality of those making reports                of                possible misconduct to the maximum extent possible, consistent with                the                requirements necessary to conduct an effective investigation and                the law.                In no event will the Company tolerate any retaliation against an                Employee                for reporting an activity that he or she in good faith believes to                be a                violation of any law, rule, regulation, or the Code. Any superior                or other                Employee intimidating or imposing sanctions on an Employee for reporting                a                matter will be disciplined up to and including termination. |
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**10.**
**Quality      of Disclosure**

**11.**
**Responding      to Improper Conduct**
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**12.      **
**Amendment      and Waivers**

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