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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