Advanced Search

Ningxia Hui Autonomous Region, A Price Regulation Fund Management Approach

Original Language Title: 宁夏回族自治区价格调节基金管理办法

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Modalities for the management of the Fund for Price Adjustments in the Hindu Autonomous Region

(The 15th ordinary meeting of the Government of the People of the Autonomous Region, held on 18 November 2013, addressed the adoption of the Decree No. 61 of 21 November 2013 of the People's Government Order No. 61 of 21 November 2013, which came into force on 1 January 2014.

Chapter I General

Article 1 establishes this approach, in accordance with the People's Republic of China price law and relevant regulations, for the mobilization, use and management of the Price Adjustment Fund, for the stabilization of important commodity prices that are closely linked to the production of life.

Article II refers to the price adjustment fund referred to in this approach, which refers to the establishment by the Government of the above-mentioned people at the district level, by law, for the purpose of regulating prices, stabilizing the market and subsidizing special funds for low-income groups.

Article 3

Article IV. The price authority is responsible for the mobilization, use, management and supervision of the Price Adjustment Fund; the financial sector is responsible for the budgetary arrangements and financial management of the Price Adjustment Fund; the inspection, auditing bodies are governed by law with respect to the mobilization, use, management of the price adjustment fund; and the management of the related sector within their respective responsibilities.

Chapter II

Article 5

In accordance with the economic, social development and market price management needs of the urban, district and local governments in the established areas, a proportion of financial budget funds should be arranged annually as price-relevant funds.

The Autonomous Region Price Adjustment Fund is mobilized by a proportion of the policy premiums generated in the implementation of resource price reforms in the State and self-government sectors, with specific criteria for mobilization and the manner in which the price authorities of the self-government sector will be developed with the financial sector of the self-government sector, followed by the approval of the Government of the People of the Autonomous Region.

Without the approval of the Government of the people of the self-governing region, the price adjustment fund cannot be raised to society.

Article 6. The Autonomous Region Price Adjustment Fund is raised by the Authority's price authority or can also be entrusted to the establishment of the city, the district (market, area) price authority or the relevant enterprise.

Article 7 raises the price adjustment fund to society and should use the financial sector to harmonize the printing of financial instruments and to pay full financial harmonization in the self-government area.

Article 8. As a result of major natural disasters, major sudden public events have caused significant economic losses, it can apply to the self-government sector price authorities for the payment, non-payment or relief of the payment price adjustment fund.

Article 9 Applications for the payment, non-contributory or devoting of the price adjustment fund shall submit the following material:

(i) Removal, non-contributory or deferred applications;

(ii) Related financial statements;

(iii) A copy of the certificate of registration of corporate legal persons of the applicant or of the licence of the operation.

The application shall include the name of the applicant, the reasons, and the amount of the request for a reduction, non-contributory or deduction, and the time of the end.

Article 10 Autonomous Region price authorities shall, within 20 working days of the date of receipt of the application for the reduction, non-payment or the payment of the price adjustment fund, advise the applicant in writing and provide reasons for approval by the Government of the people of the self-government, with the consent of the financial sector of the autonomous region.

It was agreed that the time period should be specified; after the expiry of the time period, the payer should pay the price adjustment fund in full.

Chapter III Use

Article 11. Scope of the price adjustment fund:

(i) To grant subsidies to producers and operators for the abnormal fluctuations in important commodity prices that are closely linked to the production of life;

(ii) Provide price subsidies for low-income groups affected by significant commodity prices that are closely linked to the production of life or by higher government prices;

(iii) In cases where major epidemics, major natural disasters, major public emergencies or other force majeures trigger price fluctuations, temporary subsidies are granted to producers, operators of major commodities that are severely affected by production life;

(iv) Construction of a price store and a market for agribusiness;

(v) Construction or re-entry, updating of the agro-industries of the Government, the National Control Unit;

(vi) Policy price insurance projects for basic vegetables;

(vii) Agro-product production, cold chain construction;

(viii) Purchase fees from the Price Adjustment Fund;

(ix) Other use projects identified by the Government of the People of the Autonomous Region.

Article 12. The price authorities should develop price adjustment funds using programmes with the financial sector, based on price fluctuations and the actual requirements for price regulation, to be followed by the approval of the HPR.

The price regulation fund use programmes should include use, justification, the amount to be used and the specific operational approach.

The market, district (commune, district) price regulation fund use programmes should be presented to the price authorities of the self-government area.

Article 13 applies for the use of the price adjustment fund, which should be submitted to the price authorities of the location (communes, districts) and to the city's capital adjustment fund, which is integrated by the municipality of the establishment, may apply directly to the market price authorities in the area.

The application for the use of the price adjustment fund shall, if any, submit the following material:

(i) Use of applications;

(ii) The applicant's legal registry certificate, the copy of the business licence or other relevant evidence;

(iii) Specific use of programmes.

The application shall include the name of the applicant, the reasons for use, the amount and the manner in which it is paid.

The price authorities of Article 14 (markets, zones) shall evaluate, review and recommend the approval of the project with the same financial sector within 20 days of receipt of the request, and report on the implementation of the approval of the Government of the current people; and shall not be approved, specify the reasons in writing.

Article 15. The application for the use of the Autonomous Region price Adjustment Fund shall be subject to a preliminary evaluation, review and approval of the project by the same financial sector within 15 days of receipt of the application, for approval by the Government of the Autonomous Region, for approval by the Government of the Autonomous Region, for approval by the price authorities of the Autonomous Region; and the authorities of the Autonomous Region shall, within 15 days of receipt of the request, review with the financial sector of the Autonomous Region, provide advice for the implementation of the approval of the Government of the self-government; and shall not provide written reasons.

With regard to the larger amount of funds, the price authorities in the self-government area should conduct evaluations with experts from the financial sector of the self-government area.

Article 16 The price authorities shall enter into use agreements with the Fund's users to clarify the responsibility of the Fund and to track its use and ensure that funds are used reasonably.

The price-relevant units or individuals should strictly use the price adjustment fund in accordance with the approved use and report on the use of funds to price authorities in a timely manner.

Article 17 The Autonomous Region Price Adjustment Fund is mainly used to regulate market prices across the region and inter-zone equilibrium, mediators, which are specifically balanced, coordinated by the self-government sector price authorities, and are implemented after the approval of the Government of the People of the Autonomous Region.

Chapter IV

Article 18 The Price Adjustment Fund has two income and expenditure lines, exclusive storage, specialization; end-of-year balances are used for the next year.

Any unit or individual shall not be permitted to exclude, marginalize or divert the price-administrative fund; nor shall it be used to balance the financial budget.

Article 19 City, district (market, district) price authorities and escrow units should make the mobilization, use and timeliness of the regional or unit price regulation fund, as well as quarterly price authorities and financial sectors.

Article 20 The price authorities shall submit to the same-ranking people in February each year a report on the mobilization, management, use, balances of the previous Annual Price Adjustment Fund.

Article 21 The price authorities should conduct regular inspections with the financial sector, the inspectorate, on a regular basis on the mobilization, use of the price-administrative fund, and the payer, user units and individuals of the price-relevant funds should cooperate actively, if any, in providing the relevant information and material, without denying the provision or misstatement, concealment, false reporting.

Article 22 should conduct a dedicated audit of the mobilization, use of the price-administrative fund every year and make the results of the audit.

Article 23 uses programmes, balances, mediation programmes and annual reports should be made public and socially monitored within three days of the date of formation or approval.

Article 24 gives citizens, legal persons or other organizations the right to report, challenge price regulation funds to raise, use and manage violations.

Chapter V Legal responsibility

Article 25 State organs and their staff members violate the provisions of this approach, in one of the following cases, to be disposed of by law to the competent and other direct responsible persons directly responsible; and to hold criminal responsibility in accordance with the law:

(i) Reimburse the use of the price adjustment fund or violate the use of the price adjustment fund;

(ii) Without financial exclusive storage, earmarked funds;

(iii) Excluding, crowding, devoting the price regulation fund or using the price adjustment fund to balance the financial budget;

(iv) The mobilization and use of the price-administrative fund, as prescribed;

(v) There are other acts of negligence, abuse of authority or provocative fraud.

Article 26 Competence Fund pays its obligations in violation of this scheme, which is not paid in full for the price adjustment fund and paid by the price authorities for a period of time; the failure to pay, the application of the law for enforcement by the People's Court of Justice and the imposition of a fine of more than twice the amount due.

Article 27 of the price regulation fund's use units or individuals violate the provisions of this scheme, consists of one of the following acts, the recovery by the price authorities of the paid price-adjustment fund and a fine of more than three million dollars; and criminal liability by law:

(i) The use of the price adjustment fund by, inter alia, unjustifiable means;

(ii) The use of price adjustments funds for approval purposes.

Annex VI

The twenty-eighth approach was implemented effective 1 January 2014.