The Interim Measures for the Administration of Assessment of State-owned
Assets of Enterprises, which were adopted at the 31st meeting of the director of the State-owned Assets Supervision and Administration Commission of the State Council, are hereby promulgated and shall go into effect as of September 1, 2005.
Director of the State-owned Assets Supervision and Administration Commission
Chapter I General Provisions
Article 1
With a view to standardizing the assessment of state-owned assets of enterprises, protecting the legitimate rights and interests of the investors of state-owned assets, promoting the orderly circulation of the state-owned property right of enterprises and preventing the loss of state-owned assets, these Measures are formulated according to the Company Law of the People's Republic of China, the Interim Regulations on the Supervision and Administration of Stateowned Assets in Enterprises (Guo Wu Yuan Ling No. 378), the Administrative Measures for the Assessment of State-owned Assets (Guo Wu Yuan Ling No. 91) and other laws and regulations.
Article 2
These Measures shall apply to the assets assessment relating to the enterprises for which the state-owned assets supervision and administration institutions at various levels perform the responsibilities of an investor (hereinafter referred to as the contributed enterprises) and their subsidiary enterprises (hereinafter referred to as the enterprises).
Article 3
The state-owned assets supervision and administration institutions at various levels shall be responsible for the administration of and supervision over the assessment of the state-owned assets of their contributed enterprises.
The state-owned assets supervision and administration institution under the State Council shall be responsible for offering guidance for and supervising the supervision and administration of the assessment of the state-owned assets of enterprises throughout the country.
Article 4
The assets assessment project of state-owned assets of enterprises shall be subject to the examination and approval system and archival filing system. The assets assessment project relating to the economic activities approved by the people's governments at various levels shall be subject to the examination and approval of the corresponding state-owned assets supervision and administration institutions. As for assets assessment projects relating to the economic activities approved by the state-owned assets supervision and administration institution of the State Council, the said state-owned assets supervision and administration institution of the State Council shall be responsible for filing thereof As for the assets assessment projects relating to the economic activities approved by the contributed enterprises of the state-owned assets supervision and administration institution of the State Council (hereinafter referred to as the central enterprise) and their subsidiary enterprise at various levels, the central enterprises shall be responsible for filing thereof.
The division of the functions and responsibilities in respect of archival filing of the assets assessment projects of local state-owned assets supervision and administration institutions and their contributed enterprises shall be specified by the local state-owned assets supervision and administration institutions in light of their respective conditions.
Article 5
The state-owned assets supervision and administration institutions at various levels and their contributed enterprises shall establish a system for the administration of state-owned assets assessment, improve the management of the archives of the assets assessment projects and properly make and report the statistical analysis of the aforesaid projects .The state-owned assets supervision and administration institutions at the province level and the central enterprises shall, within 30 days as of the end of each year, report statistical analysis materials on the assets assessment projects to the state-owned assets supervision and administration institution of the State Council.
Chapter II Assets Assessment
Article 6
In case an enterprise performs any of the following acts, the relevant assets shall be assessed:
1. Being entirely or partly restructured into a liability limited company or stock limited company;
2. Investing abroad with non-currency assets;
3. Merger, splitting-up, bankruptcy or dissolution;
4. Change in the proportion of state-owned shares in a non-listed company;
5. Transfer of the property right;
6. Transfer or replacement of assets;
7. Leasing entire assets or partial assets to a non-state-owned entity;
8. Discharging a debt with non-currency assets;
9. Asset-related litigation;
10. Purchasing assets of a non-state-owned entity;
11. Accepting the non-currency asset contribution of a non-state-owned entity;
12. Accepting a non-state-owned enterprise to offsetting the debts with noncurrency assets; and
13. Other matters subject to assets assessment under the laws or administrative regulations.
Article 7
The relevant state-owned assets of an enterprise may not be subject to assets assessment under any of the following circumstances:
1. Upon approval of the people's government at various level or its stateowned assets supervision and administration institutions, an enterprise transfers all or some of its assets gratuitously; or
2. The merger, replacement of assets (property right) or gratuitous transfer of assets between a solely state-owned enterprise and its subordinate solely funded enterprise (public institution) or between its subordinate solely-funded enterprises is carried out.
Article 8
Where an enterprise performs any of the acts as mentioned in Article 6, the entity as the holder of its property right shall authorize a qualified assets assessment institution to conduct assessment.
Article 9
The assets assessment institution authorized by an entity as the holder of the enterprise property right shall satisfy the following basic requirements:
1. Observing the relevant laws, rules, regulations and policies on the assessment of state-owned assets of enterprises, strictly performing the statutory duties, and having no record of violation of laws or regulations within the recent 3 years;
2. Being qualified for the assessment object;
3. Having the professionals and special skills in conformity with the assessment object;
4. It has no economic interests with the person-in-charge of the enterprise; and
5. It has not provided any audit service for a same economic activity.
Article 10
An enterprise shall faithfully provide the relevant information and materials to the assets assessment institution, and shall be liable for their authenticity, lawfulness and completeness. It may not conceal or overstate any assets.
Article 11
An enterprise shall actively cooperate with the assets assessment institution and may not interfere in the normal practice of the assets assessment institution in any form.
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