Notice of the Ministry of Finance on Relevant Issues Concerning the Thorough Implementation of the Administrative Measures for the Transfer of State-owned Assets of Financial Enterprises

财政部关于贯彻落实《金融企业国有资产转让管理办法》有关事项的通知

Promulgating Institution: Ministry of Finance

Document Number: Cai Jin [2009] No. 178

Promulgating Date: 12/27/2009

Effective Date: 12/27/2009

颁布机关: 财政部

文      号: 财金[2009]178号

颁布时间: 12/27/2009

实施时间: 12/27/2009

With a view to further implementing the Administrative Measures for the Transfer of State-owned Assets of Financial Enterprises (Order of the Ministry of Finance No. 54, hereinafter referred to as the Measures), regulating the transfer of State-owned assets of financial enterprises, promoting the orderly flow of financial State-owned assets, and strengthening the supervision and administration over the transfer by finance departments, relevant issues are hereby notified as follows:

    为进一步贯彻落实《金融企业国有资产转让管理办法》(财政部令第54号,以下简称《办法》),规范金融企业国有资产转让行为,促进金融国有资产有序流转,加强财政部门对转让行为的监督管理,现将有关事项通知如下:

1. Specify duties and responsibilities, and manage well the thorough implementation of various provisions

The Measures have prescribed the procedures for the transfer of State-owned assets of financial enterprises and specified the duties and responsibilities of finance departments, State-owned and State-controlled financial enterprises, equity exchanges as well as social intermediaries. All relevant entities shall earnestly manage well the thorough implementation of the Measures in accordance the principles of "clear duties and responsibilities, standardized operation, strict checking, and effective supervision and administration".

(1) Local finance departments shall strengthen the administration over the transfer of financial State-owned assets. Finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government, and cities separately designated in the State plan (hereinafter referred to as the Finance Department at the Provincial Level) shall, in accordance with the Measures and in light of the realities within their respective administrative region, formulate the implementing measures for the administration over the transfer of State-owned assets by financial enterprises and the subsidiaries thereof under their respective administration, and report the same to this Ministry for record-filing purposes.

(2) Financial enterprises under central management shall strictly implement the Measures. All State-owned and State-controlled financial enterprises under central management shall study and formulate the implementing measures and working procedures for the transfer of State-owned assets of their own group (holding) enterprises, and shall report the same to this Ministry for record-filing purposes; effectively establish functional departments and assign personnel responsible for the supervision and administration over the transfer of State-owned assets within the enterprises, and clarify job responsibilities; strengthen the administration, examination and verification of the transfer of State-owned assets by subsidies at all levels, and carry out follow-up supervision and administration over all aspects of work that are done within equity exchanges and securities trading systems to effectively safeguard the rights and interests of the owners and prevent the losses of State-owned assets.

(3) Equity exchanges shall conscientiously perform duties and responsibilities. All equity exchanges that undertake the business of transfer of property rights of State-owned assets of financial enterprises shall actively cooperate with finance departments to do a good job in training, promotion as well as summarization and collection of transaction information; conscientiously do a good job in the examination of the qualifications of the subjects to the transactions of property rights, information disclosure, registration of interested transferees, organization and implementation of public bidding, transaction settlement, issuance of certificates of transactions of property rights, keeping of files on transactions of property rights as well as the collection and summarization of transaction information, etc.; the conditions on transferees put forward in the announcement of property rights transfer shall not contain contents with clear indication or contents of anti-competition; strengthen inter-departmental communication and coordination, and explore and formulate a unified rules of operation of transactions of property rights of State-owned assets of financial enterprises.

       一、明确职责，做好各项规定的贯彻落实工作

   《办法》规定了金融企业国有资产转让的程序，明确了财政部门、国有及国有控股金融企业、产权交易机构和社会中介机构的职责。各相关单位要按照“职责明确、运作规范、把关严格、监管有力”的原则，认真做好《办法》的贯彻落实工作。

    （一）地方财政部门要加强金融国有资产转让管理。各省、自治区、直辖市、计划单列市的财政厅（局）（以下简称省级财政部门）要根据《办法》，结合本地区实际情况，制定所管理金融企业及其子公司国有资产转让管理实施办法，并报我部备案。

    （二）中央管理的金融企业要严格贯彻落实《办法》。各中央管理的国有及国有控股金融企业要研究制定本集团（控股）企业的国有资产转让管理实施办法和工作程序，并报我部备案;要落实企业内部负责国有资产转让监管的职能部门和人员，明确工作责任;要加强对各级子公司国有资产转让行为的管理和审核，并对进入产权交易机构和证券交易系统的各个工作环节实施跟踪监管，切实维护所有者权益，防止国有资产流失。

    （三）产权交易机构要认真履行职责。各承办金融企业国有资产产权转让业务的产权交易机构，要积极配合财政部门做好培训宣传和交易信息采集汇总工作;认真做好产权交易主体资格审查、信息披露、意向受让方登记、公开竞价组织实施、交易结算、出具产权交易凭证、产权交易档案保管和交易信息收集汇总等工作;在产权转让公告中提出的受让条件不得出现具有明确指向性或违反公平竞争的内容;加强机构间的沟通协调，探索制定统一的金融企业国有资产产权交易操作规则。

2. Raise awareness, and strictly enforce the floor trading system of the transfer of State-owned assets 

Finance departments at all levels, and State-owned and State-controlled financial enterprises under central management shall fully recognize the significance of floor trading of financial State-owned assets, strictly control the scope of direct transfer by agreement, effectively implement the floor trading system, and shall make full use of equity exchanges and securities trading systems to shorten the investment management chain, promote the orderly flow of State-owned financial assets and ensure the fairness, impartiality and openness of the transfer of State-owned assets of financial enterprises.

(1) The selection, supervision and administration of equity exchanges. All Finance Departments at the Provincial Level shall attach great importance to and do a solid job in the selection of equity exchanges that undertake the transaction business of State-owned assets of financial enterprises. In accordance with the Measures, determine as soon as possible the list of equity exchanges at the provincial level that undertake the transaction business of State-owned assets of financial enterprises within their respective administrative region, and recommend one (1) equity exchange to undertake the transaction business of State-owned assets of financial enterprise under central management. Upon the completion of the selection and recommendation, Finance Departments at the Provincial Level shall announce to the public, in an appropriate manner, the basic situation of the equity exchanges so selected and recommended, and report the same to this Ministry for record-filing purposes by the end of March 2010; strengthen the routine supervision and administration over equity exchanges that undertake transaction business of State-owned assets of financial enterprises, especially those undertake the said business of financial enterprises under central management. With regard to equity exchanges that fail to meet the basic conditions on engaging in transaction business of State-owned assets of financial enterprises prescribed by the Measures, or equity exchanges that practice fraud, neglect duties or harm national interests or the legitimate rights and interests of parties to the transactions in transaction activities, the eligibility thereof to engage in transaction business of State-owned assets of financial enterprises shall be ceased forthwith and the same shall be announced to the public.

(2) The scope of equity exchanges for selection by financial enterprises under central management. All State-owned and State-controlled financial enterprises under central management shall, in accordance with the principles of maximizing returns and facilitating transactions, transfer State-owned property rights of non-listed companies in Beijing Equity Exchange, Tianjin Property Rights Exchange, Shanghai United Assets and Equity Exchange, Chongqing United Assets and Equity Exchange, and other equity exchanges at the provincial level recommended and determined by Finance Departments at the Provincial Level, without restrictions on region, industry, contribution or affiliation.

(3) Several special provisions on the transfer of State-owned property rights of non-listed enterprises. The important industries referred to in the Measures shall mean the following eight (8) large industries as financial, military, power grids and electricity, petroleum and petrochemicals, telecommunications, coal, civil aviation and shipping industry. Key subsidiaries shall refer to that State-owned and State-controlled financial enterprises have controlling shareholding in companies involved in the aforesaid industries as well as in listed companies. In accordance with the Measures, the transfer of State-owned property rights involving key subsidiaries shall be reported to finance departments for examination and approval; where State-owned and State-controlled financial enterprises intend to transfer property rights of key subsidiaries held by special purpose vehicles established within or outside the territory of China, the same shall be reported to finance departments for examination and approval; where State-controlled financial enterprises intend to transfer property rights of non-listed subsidiaries outside the territory of China, in principle, the same shall be carried out in equity exchanges prescribed by the Measures. Where indeed interested transferees cannot be solicited due to restrictions on objective conditions, after sufficient inquiry and upon examination and approval by competent finance departments, the transfer may be carried out in a manner of direct transfer by agreement.

       二、提高认识，严格执行国有资产转让进场交易制度

   各级财政部门和各中央管理的国有及国有控股金融企业要充分认识金融国有资产进场交易的重要意义，严格控制直接协议转让的范围，切实执行进场交易制度，充分利用产权交易机构和证券交易系统，缩短投资管理链条，促进国有金融资产的有序流转，确保金融企业国有资产转让公平、公正、公开。

    （一）产权交易机构的选择和监管。各省级财政部门要高度重视和扎实做好承办金融企业国有资产交易业务的产权交易机构的选择工作。根据《办法》，尽快确定本地区承办金融企业国有资产交易业务的省级产权交易机构名单，并推荐1家产权交易机构承担中央管理金融企业国有资产转让业务。选择和推荐工作结束后，各省级财政部门应将所选择和推荐交易机构的基本情况，以适当方式向社会公告，并在2010年3月底之前报我部备案;加强对承办交易业务，特别是中央管理金融企业国有资产转让业务的产权交易机构的日常监督管理。对不符合《办法》所规定从事金融企业国有产权交易活动基本条件，或在交易活动中出现弄虚作假、玩忽职守、损害国家利益或交易双方合法权益的产权交易机构，应立即停止其从事金融企业国有资产交易业务的资格，并向社会公告。

    （二）中央管理金融企业选择产权交易机构的范围。各中央管理的国有及国有控股金融企业转让非上市企业国有产权，应当按照收益最大化和便利交易的原则，在北京产权交易所、天津产权交易中心、上海联合产权交易所、重庆联合产权交易所和各省级财政部门推荐确定的省级产权交易机构中进行，不受地区、行业、出资或者隶属关系的限制。

    （三）非上市企业国有产权转让的若干特殊规定。《办法》所称重要行业是指金融、军工、电网电力、石油石化、电信、煤炭、民航、航运8大行业。重点子公司是指国有及国有控股金融企业对涉及上述行业的公司拥有控股权，以及对上市公司拥有控股权。根据《办法》，涉及重点子公司的国有产权转让行为应当报财政部门审批;国有及国有控股金融企业拟转让在境内外设立的特殊目的公司所持有的重点子公司产权，应当报财政部门审批;国有控股金融企业拟转让境外非上市子公司产权的，原则上应在《办法》规定的产权交易机构中进行。确因受制于客观条件，无法征集意向受让方的，经充分询价，报经主管财政部门审核批准后，可采取直接协议转让的方式进行。

3. Improve procedures, and regulate the transfer of State-owned assets of financial enterprises

Finance departments at all levels, and all State-owned and State-controlled finance enterprises under central management shall strictly regulate the transfer of State-owned assets of financial enterprises in accordance with the provisions of the Measures in the process of promoting the adjustment of the layout and structure of State-owned financial assets and facilitating the reasonable flow of State-owned financial capital. 

(1) Strengthen the administration over the whole process of the transfer of State-owned assets of financial enterprises. State-owned and State-controlled financial enterprises shall strictly carry out internal decision-making procedures as well as examination and approval procedures; manage well financial audit and asset valuation in accordance with the provisions, and shall use the valuation price as reference for the transfer price; adhere to the principle that asset transfer shall be conducted in the open market so as to ensure that information on transfer is fully disclosed to eliminate black case work; manage well the collection of transfer price, authentication of transfer and respiration of property rights in a timely manner. Where the transfer of State-owned shares of listed companies are involved, relevant provisions of securities regulatory commissions shall be complied with.

(2) Strengthen the organic integration of various basic tasks of the administration over financial State-owned assets. Finance departments at all levels shall manage well the administration over the registration of the property rights of State-owned assets of financial enterprises and asset valuation involved in the asset transfer process, and shall strengthen the coordination efforts among various basic tasks of the administration over financial State-owned assets.

(3) Strengthen the supervision and inspection of transfer activities of financial State-owned assets. The Ministry of Finance shall be responsible for the supervision and inspection of asset transfer of State-owned and State-controlled financial enterprises of all provinces and under central management, and shall severely deal with illegalities and irregularities found in accordance with relevant provisions. All State-owned and State-controlled financial enterprises under central management shall effectively perform their supervisory duties by ex ante, interim and ex post checking, supervision and inspection of the transfer of State-owned assets by subsidiaries at all levels.

       三、完善程序，规范金融企业国有资产转让行为

   各级财政部门和各中央管理的国有及国有控股金融企业，在推进国有金融资产布局和结构调整、促进国有金融资本合理流转的过程中，要按照《办法》规定，严格规范金融企业国有资产转让行为。

    （一）加强对金融企业国有资产转让的全过程管理。国有及国有控股金融企业要严格履行内部决策程序和审批程序;按规定做好财务审计和资产评估工作，并以评估值作为转让价格的参考依据;要坚持资产转让进入公开市场，保证转让信息披露完全，杜绝暗箱操作;及时做好转让价款收取、转让鉴证和产权登记工作。涉及上市公司国有股份转让的，还应遵守证券监管部门的相关规定。

    （二）加强金融国有资产管理各项基础工作的有机结合。各级财政部门要做好资产转让过程中，涉及的金融企业国有资产产权登记管理和资产评估工作，加强金融国有资产管理各项基础工作的配合力度。

    （三）加强对金融国有资产转让活动的监督检查。财政部负责对各省和各中央管理的国有及国有控股金融企业的资产转让行为进行监督检查，发现违法违规行为，将按照有关规定严肃处理。各中央管理的国有及国有控股金融企业要通过对各级子企业国有资产转让事前、事中和事后等环节的审核把关和监督检查，切实履行好相关监管职责。

4. Strengthen information management, and establish and improve a reporting system for the transfer of State-owned assets of financial enterprises

In order to manage well the statistical analysis of information on the transfer of State-owned assets of financial enterprises, all Finance Departments at the Provincial Level as well as State-owned and State-controlled financial enterprises under central management shall make full use of information technology, and explore and establish basic information databases for the transfer of financial State-owned assets to comprehensively grasp relevant situations of the transfer of State-owned assets of enterprises under the management thereof.

(1) Manage well information submission on a regular basis. Prior to the end of March of each year, all Finance Departments at the Provincial Level and all State-owned and State-controlled financial enterprises under central management shall report to this Ministry the transfer of State-owned assets of financial enterprises in the previous year upon summary of statistics.

(2) Manage well research and report. Finance departments at all levels, and State-owned financial enterprises shall pay attention to find out and summarize new situations and new problems arising out of the transfer activities of State-owned assets, and shall promptly report relevant important situations and major issues to this Ministry.

Ministry of Finance

December 27. 2009

       四、强化信息管理，建立健全金融企业国有资产转让情况报告制度

   为做好金融企业国有资产转让信息的统计分析工作，各省级财政部门和各中央管理的国有及国有控股金融企业要充分利用信息化技术，探索建立金融国有资产转让基础信息库，全面掌握所管理企业国有资产转让的有关情况。

    （一）做好信息定期报送工作。每年3月底之前，各省级财政部门和各中央管理的国有及国有控股金融企业要将上一年度金融企业国有资产转让情况统计汇总后报我部。

    （二）做好研究报告工作。各级财政部门和国有金融企业要注意了解和总结在国有资产转让活动中出现的新情况、新问题，对有关重要情况和重大问题要及时向我部报告。

    财政部

    二○○九年十二月二十七日