The Interim Regulations On State-Owned Assets Supervision And Administration

Original Language Title: 《企业国有资产监督管理暂行条例》

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     People's Republic of China promulgated by Decree No. 378 of the interim regulations on State-owned assets supervision and administration of the State Council on May 13, 2003 for the 8th Executive meeting for discussion and adoption, are hereby promulgated and, as of the date of promulgation.
    Premier Wen Jiabao May 27, 2003 chapter I General provisions article I for the establishment of State-owned assets supervision and management system adapted to the Socialist market economy, further improving State-owned enterprises, promoting the strategic adjustment of State-owned economy distribution and structure, development and expansion of State-owned economy, State-owned asset increment, this Ordinance is enacted.
    The second State-owned and State-holding enterprises, State-owned shareholding enterprises in State-owned assets supervision and management, and application of this regulation.
    Supervision and management of State-owned assets from financial institutions, these regulations do not apply.
    Enterprise State-owned assets mentioned in article III of the regulations refers to national enterprises of various forms of investment and investment by the formation of interest, and all other legally recognized as national interests. Article fourth Enterprise State-owned assets are owned by the State.
    Countries on behalf of the State by the State Council and local people's Governments to fulfil the responsibilities of investor, enjoying owner's equity, rights, obligations and responsibilities of unification, it tube combination of assets and management, personnel management system of State-owned assets. Fifth State Council on behalf of the national lifeline and national security of the large State-owned and State-owned and State-owned enterprises, critical infrastructure, and key natural resources in areas such as State-owned and State-owned and State-owned enterprises, and fulfil the responsibilities of investor.
    Fulfilling responsibilities of investor enterprises under the State Council, determined and promulgated by the State Council. People's Governments of provinces, autonomous regions and municipalities and districts of city and prefecture-level people's Government, on behalf of the State by the State Council to fulfil the responsibilities of investor outside the State-owned and State-owned and State-owned enterprises, and fulfil the responsibilities of investor.
    Which, province, and autonomous regions, and municipalities Government perform funded people duties of State-owned and the State-owned holding, and State-owned shares enterprise, by province, and autonomous regions, and municipalities Government determine, and announced, and reported State State-owned assets supervision management institutions record; other by set district of city, and autonomous level Government perform funded people duties of State-owned and the State-owned holding, and State-owned shares enterprise, by set district of city, and autonomous level Government determine, and announced, and reported province, and autonomous regions, and municipalities Government state-owned assets supervision management institutions record.
    The State Council, people's Governments of provinces, autonomous regions and municipalities, districts of city and prefecture-level Governments to fulfil the responsibilities of investor enterprises, collectively-funded enterprises. Sixth State Council, people's Governments of provinces, autonomous regions and municipalities, districts of the city and prefecture-level Governments, set up state-owned assets supervision and Administration Department.
    The State-owned assets supervision and administration in accordance with its mandate, shall perform the investor's duties, the enterprise State-owned assets supervision and administration in accordance with law.
    The enterprise State-owned assets less the city divided into districts, autonomous prefectures, and approved by the people's Governments of provinces, autonomous regions and municipalities, you can set up separate State-owned assets supervision and administration.
    Article people's Governments at all levels should strictly implement laws and regulations on State-owned assets management, public management functions of the Government and State-owned assets to separate the functions of the investors, insisted on separating, the implementation of separation of ownership and management.
    State-owned assets supervision and Administration does not exercise public management function of the Government, other agencies, government departments do not fulfill corporate responsibilities of investor of State-owned assets.
    Article eighth State-owned assets supervision and Administration Department shall, in accordance with this Ordinance and the provisions of other relevant laws, administrative regulations, establishing and perfecting the internal control system, strict enforcement of laws and administrative regulations.
    Nineth event of war, natural disasters or other major, emergency, States may, in accordance with the unified call, disposal of State-owned assets in enterprises.
    Enterprises funded by the tenth article and its investment businesses, enterprises ' autonomy stipulated by relevant laws and administrative regulations.
    State-owned assets supervision and administration institutions should support the business independently according to law, in addition to fulfilling responsibilities of investor shall not interfere with the company's production and business activities.
    Enterprises funded by the 11th article should strive to improve economic efficiency, on management of State-owned assets in enterprises bear the value of responsibility.
    Funded enterprise shall be subject to supervision and management of State-owned assets supervision and administration according to law, shall be without prejudice to the legitimate interests of owners and other investors of State-owned assets.
    12th chapter of State-owned assets supervision and administration of State-owned assets supervision and administration on behalf of the State Council to fulfil the responsibilities of investor, is responsible for the supervision and management of State-owned assets of enterprises directly under the ad hoc bodies.
    People's Governments of provinces, autonomous regions and municipalities directly under the State-owned assets supervision and administration institutions, districts, autonomous local government State-owned assets supervision and administration on behalf of this Government to fulfill responsibilities of investor, is responsible for the supervision and management of State-owned assets of enterprises directly under the ad hoc bodies.
    Higher on lower levels of Government by law of State-owned assets supervision and administration of State-owned assets supervision and management guidance and supervision. 13th article State-owned assets supervision management institutions of main duties is: (a) in accordance with People's Republic of China company law, legal, and regulations, on by funded enterprise perform funded people duties, maintenance owner interests; (ii) Guide advance State-owned and the State-owned holding enterprise of reform and restructuring; (three) in accordance with provides to by funded enterprise sent Board of supervisors; (four) in accordance with statutory program on by funded enterprise of enterprise head for appointment, and assessment, and according to assessment results on its for rewards and punishments; (five) through statistics, and
    Audits and other means to regulate the preservation and appreciation of State-owned assets of enterprises and (vi) of contribution person's other responsibilities and undertake other matters assigned by the Government.
    Except as provided in the preceding paragraph the State-owned assets supervision and administration functions, can develop the enterprise State-owned assets supervision and administration of the rules and regulations.
    14th article State-owned assets supervision management institutions of main obligations is: (a) advance State-owned assets reasonable flow and optimization configuration, promoted State-owned economic layout and structure of adjustment; (ii) keep and improve relationship economy lifeline and national security field State-owned economic of control force and competitiveness, improve State-owned economic of overall quality; (three) exploration effective of enterprise State-owned assets business system and way, strengthening Enterprise State-owned assets supervision management work, promote enterprise State-owned assets hedge value-added, prevent Enterprise State-owned assets loss;
    (D) guiding and promoting the establishment of modern enterprise system in State-owned and State-holding enterprises, improve the corporate governance structure, promoting the modernization of management; (e) to respect, safeguard autonomous management of State-owned and State-holding enterprises, safeguard the legitimate rights and interests of enterprises and promoting enterprise management according to law, enhance the competitiveness of enterprises (vi) to guide and coordinate the resolution of State-owned and State-holding enterprises reform and development of the difficulties and problems.
    15th state-owned asset supervision and Administration Department shall report the matter to the level of government enterprise State-owned assets supervision and administration, preservation and appreciation of State-owned assets, and other major issues.
    Management 16th chapter of business leaders of State-owned assets supervision and Administration Department shall establish a sound modern enterprise system requires enterprises in charge of selection mechanism and incentive mechanism. 17th article State-owned assets supervision management institutions in accordance with about provides, appointment or recommends appointment by funded enterprise of enterprise head: (a) appointment State-owned owned enterprise of General Manager, and Deputy General Manager, and Chief Accountant and the other enterprise head; (ii) appointment State-owned owned company of Chairman, and Deputy Chairman, and Director, and to its proposed General Manager, and Deputy General Manager, and Chief Accountant, of appointment recommends; (three) in accordance with company articles, proposed to state-owned holding of company sent of Director, and prison thing candidates,
    Recommended State-controlled company's Board Chairman, Vice Chairman and Chairman of the Supervisory Board, and to make recommendations for candidates for General Manager, Deputy General Manager and Chief Accountant and (iv) in accordance with the articles of incorporation, presented to the directors and supervisors of State-owned joint stock company sent candidates.
    The State Council, people's Governments of provinces, autonomous regions and municipalities, districts of the city and prefecture-level Governments, provide otherwise on the appointment of Heads of enterprises funded by business, in accordance with the relevant provisions.
    18th heads of State-owned assets supervision and management should establish a corporate performance evaluation system, signed performance contracts with the appointment of Heads of enterprises, under contract to the company responsible for the annual assessment of performance and tenure evaluation.
    19th State-owned assets supervision and administration in accordance with the relevant provisions, in determining the enterprises funded by the State-owned enterprise, head of the State-owned company's corporate salary; according to the assessment results, determined its sent to enterprises funded by business leaders of rewards and punishments.
    Fourth chapter business management on important matters is responsible for directing the 20th State-owned assets supervision and administration of State-owned and State-holding enterprises to establish modern enterprise system, approval of the enterprises funded by the State-owned enterprises, State-owned company's reorganization, joint-stock reform programme and for the regulation of the enterprises funded by the State-owned company. Article 21st in accordance with legal procedures to determine their State-owned assets supervision and administration of enterprises funded by State-owned enterprises, State-owned companies on the Division, merger, bankruptcy, dissolution, increase or decrease in capital and issue of corporate bonds and other major matters.
    Among them, important State-owned enterprises, State-owned corporate Division, merger, bankruptcy, dissolution, shall after approval by the State-owned assets supervision and administration bodies, the people's Governments at the corresponding level for approval.
    The State-owned assets supervision and administration in accordance with legal procedures audit, decisions in the field of science, technology and industry for national defense to the enterprises funded by the State-owned enterprises, State-owned companies on major matters, in accordance with the relevant State laws and regulations.
    22nd State-owned assets supervision and administration in accordance with the provisions of the company law, sent a representative of the shareholders, directors, take part in State-controlled companies, shareholders, Board of Directors of the State-owned joint stock company. State-controlled companies, State-owned shares of the company's shareholders ' meeting, the Board decided the company's split, merger, bankruptcy, dissolution, increase or decrease in capital, the issuance of debentures, appointment of business leaders and other major issues, the State-owned assets supervision and administration institutions sent representatives of the shareholders, directors, should express their views in accordance with the instructions of the State-owned assets supervision and administration, the exercise of the right to vote.

    State-owned assets supervision and administration institutions sent representatives of the shareholders, directors, in fulfilling its responsibilities relating to time should be reported to the State-owned assets supervision and administration bodies. Article 23rd are determined by the enterprises funded by the State-owned assets supervision and administration of State-owned equity transfer.
    Among them, the transfer of all State-owned shares or the transfer parts of State-owned shares that the State no longer has a stake in, the people's Governments at the corresponding level for approval.
    Article 24th-funded enterprise investment in important enterprises of major events, needed by the enterprises funded by the approval of the State-owned assets supervision and administration, management of State-owned assets supervision and Administration Department shall be separately formulated by the State Council, the State Council for approval.
    25th State-owned assets supervision and administration in accordance with the relevant provisions of the State Organization and coordination of the enterprises funded by the State-owned enterprises, mergers and bankruptcies of State-owned company, and cooperating with authorities to get laid off workers placement and so on.
    26th State-owned asset supervision and administration in accordance with the relevant provisions of the State and the enterprises funded by the guidance of the reform of the income distribution system, regulating the enterprises funded by the overall level of wages.
    Enterprises funded by the 27th article in the State-owned enterprises, State-owned company approved by the State Council, as prescribed by the State Council's investment company, a holding company, enjoys rights under company law article 12th; can be used as a State-authorized investment institution, enjoys rights under company law article 20th.
    28th article can the enterprises funded by the State-owned assets supervision and administration of conditions in State-owned enterprises, State-owned company for the State-owned assets authorization management.
    Authorized State-owned enterprises, State-owned company for its wholly owned, controlled, shareholding enterprises in the national investment in State-owned assets in accordance with law, business, management, and supervision.
    29th has been authorized by the State-owned enterprises, State-owned companies should be establishing and perfecting a modern enterprise system, and increasing the value of State-owned assets of enterprises responsibility.
    Fifth chapter 30th Enterprise State-owned assets management of State-owned assets supervision and administration in accordance with the relevant provisions of the State, responsible for State-owned assets property rights defining, property rights registration, asset evaluation supervision, verification, asset statistics, evaluation, and management.
    Coordinating the enterprises funded by the State-owned assets supervision and administration of the enterprise State-owned assets property rights disputes.
    31st state-owned assets supervision and administration bodies shall establish a system of enterprise property right transaction of State-owned assets supervision and administration, strengthen enterprise property right transaction of State-owned assets supervision and administration, promote the rational flow of State-owned assets of enterprises and prevent the loss of State-owned assets in enterprises.
    Article 32nd of the enterprises funded by the State-owned assets supervision and administration of the enterprise State-owned assets shall perform the investor's duties; the enterprises funded by the major investment and financing plans, development strategies and plans, in accordance with national development plans and industrial policies to fulfil the responsibilities of investor.
    Article 33rd of the enterprises funded by the State-owned enterprises, State-owned company's major asset disposal, required by the State-owned assets supervision and administration, in accordance with the relevant provisions. Sixth chapter of State-owned assets supervision article 34th on behalf of the State Council to the State-owned assets supervision and administration of the enterprises funded by the State-owned enterprises, State-owned company sent the Board of supervisors.
    Supervisory Board composition, terms of reference, code of conduct, in accordance with the provisions of the interim regulations on the Board of supervisors of State-owned enterprises.
    Local people's Governments at the State-owned assets supervision and administration by the institutions to which the representative of the people's Governments at the corresponding level of the enterprises funded by the State-owned enterprises, State-owned company supervisory in the light of the provisions of the interim regulations on the Board of supervisors of State-owned enterprises.
    35th State-owned assets supervision and administration bodies shall conduct supervision on enterprises funded by financial, establish and improve the value of State-owned assets system, safeguard the interests of investors of State-owned assets.
    36th State-owned and State-holding enterprises shall strengthen internal supervision and risk control, in accordance with the relevant provisions of the State to establish a sound financial, audit, corporate counsel and staff supervision system.
    37th article of the enterprises funded by the State-owned enterprises, State-owned companies should report regularly to the State-owned assets supervision and administration in accordance with the provisions of financial status, production management and preservation and appreciation of State-owned assets.
    The seventh chapter legal liability article 38th not complying with the provisions of State-owned assets supervision and administration appointment or proposed appointment and removal of the enterprises funded by business leaders, or unlawful intervention funded enterprise's production and management activities, violations of their legitimate rights and interests, resulting in loss of State-owned assets in enterprises or other serious consequences, the managers directly responsible and other persons directly responsible shall be given administrative sanctions constitutes a crime, criminal responsibility shall be investigated according to law.
    39th article of the enterprises funded by the State-owned enterprises, State-owned company did not report to the State-owned assets supervision and administration in accordance with the provisions of the financial situation, production management and preservation and appreciation of State-owned assets, with a warning in serious cases, the direct responsible person in charge and other direct liable persons shall be given disciplinary sanctions.
    40th head of State-owned and State-holding enterprises abuse their powers, neglect their duties, resulting in losses of State-owned assets, shall be liable for, and shall be subject to disciplinary action constitutes a crime, criminal responsibility shall be investigated according to law.
    41st on the loss of State-owned assets in enterprises responsible were dismissed over disciplinary action against State-owned enterprises and State-owned holding enterprises, within the 5 years shall not hold any heads of State-owned and State-holding enterprises causing major losses of State-owned assets, or is sentenced, life without any heads of State-owned and State-holding enterprises.
    Eighth chapter supplementary articles article 42nd State-owned and State-holding companies, State-owned shareholding enterprises, organization, institutions, rights and obligations, in accordance with the People's Republic of China company law and other laws and administrative regulations, and the provisions of this Ordinance.
    43rd State-owned and State-holding enterprises, State-owned shareholding enterprises in the construction of grass-roots organizations of the CPC and the Socialist construction of spiritual civilization and construction of a clean and honest Government in accordance with the relevant provisions of the Statute of the Communist Party of China and.
    State-owned and State-holding enterprises, State-owned shareholding enterprises in trade union organizations, in accordance with the People's Republic of China Trade Union law and the relevant provisions of the Statute of the Trade Union of China.
    44th state-owned assets supervision and administration, Governments of provinces, autonomous regions and municipalities can be based on implementation measures for the enactment of this Ordinance.
    45th article of the Ordinance was enacted prior to the implementation of the enterprise State-owned assets supervision and management of the administration of laws inconsistent with this regulation, in accordance with the provisions of this Ordinance. 46th separation has not yet separated from the unit shall be in accordance with the provisions of the State Council, to speed up the reform to achieve separation.
    After the separation of enterprises, by the State-owned assets supervision and administration bodies shall perform the investor's duties, the enterprise State-owned assets supervision and administration in accordance with law.
  47th article of the regulations come into force on the date of promulgation.

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