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What are the Asset Management Measure and Property Rights Measure?

What are the Asset Management Measure and Property Rights Measure?

The Asset Management Measure is the Interim Measures for Regulation and Administration of Overseas State-owned Assets of Central Enterprises and the Property Rights Measure is the Interim Measures for the Administration of Overseas Property Rights of State-owned Enterprises.

In order to further develop a set of comprehensive policies and regulations on overseas state-owned assets, and to safeguard the property rights of state-owned assets abroad, the PRC State-Owned Asset Supervision and Administration Commission of the State Council (SASAC) issued the Measures on 27 June 2011.

 

The Asset Management Measure consists of 40 articles in 7 chapters. Its main contents include: (1) regulatory and administrative obligations in respect of overseas stated-owned assets of the SASAC and central enterprises;(2) administrative requirements in respect of the key sections in overseas investments and follow-up administration procedures by central enterprises; (3)general requirements in respect of various fundamental administration procedures in the production and operation activities of overseas enterprises;(4) reporting procedures, scope and timing requirements for major operation and management issues of overseas enterprises. The Asset Management Measure also defines the regulatory scope and requirements on overseas state-owned assets, covering aspects of internal management and external supervision.

 

The Property Rights Measure consists of 20 articles, which covers mainly:(1) comprehensive requirements on registration and assessment management of overseas state-owned assets;(2)specific requirements on issues concerning changes in state-owned property rights(e.g. transfer of property rights by overseas enterprises), including examination and approval, general procedures, consideration and ways of transfer, as well as payment of consideration;(3) general principles on administration of state-owned shareholdings in red-chip companies;(4) regulations on other issues such as overseas state-owned property rights held in the name of an individual, and establishment of offshore companies.

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