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Interim Regulations on the Supervision and Administration of State-owned Assets of Enterprises (revised 20 19)
Chapter I General Provisions Article 1 These Regulations are formulated for the purpose of establishing a state-owned assets supervision and management system that meets the needs of the socialist market economy, further improving state-owned enterprises, promoting the strategic adjustment of the layout and structure of the state-owned economy, developing and strengthening the state-owned economy, and realizing the preservation and appreciation of state-owned assets. Article 2 These Regulations shall apply to the supervision and administration of state-owned assets of state-owned enterprises, state-holding enterprises and state-holding enterprises.

These regulations are not applicable to the supervision and management of state-owned assets of financial institutions. Article 3 The term "state-owned assets of enterprises" as mentioned in these Regulations refers to the state's investment in enterprises in various forms and the rights and interests formed by investment, as well as other rights and interests recognized as owned by the state according to law. Article 4 The state-owned assets of enterprises belong to the state. The state implements a state-owned asset management system in which the State Council and local people's governments perform the responsibilities of investors on behalf of the state, enjoy the rights and interests of owners, unify their rights, obligations and responsibilities, and combine the management of assets with the management of people and affairs. Article 5 the State Council shall, on behalf of the state, perform the duties of investor for large state-owned and state-holding and state-holding enterprises related to the lifeline of the national economy and national security, as well as state-owned and state-holding and state-holding enterprises in important infrastructure and important natural resources. The enterprises that perform the responsibilities of investors in the State Council shall be determined and announced by the State Council.

The people's governments of provinces, autonomous regions and municipalities directly under the Central Government, and the people's governments of cities and autonomous prefectures divided into districts respectively perform the investor duties on behalf of the state for state-owned and state-controlled and state-owned shareholding enterprises other than the State Council. Among them, the people's governments of provinces, autonomous regions and municipalities directly under the Central Government shall determine and announce the state-owned and state-holding enterprises that perform the responsibilities of investors, and report them to the state-owned assets supervision and administration institution of the State Council for the record; Other state-owned, state-controlled and state-controlled joint-stock enterprises performed by the people's governments of cities and autonomous prefectures divided into districts shall be determined and announced by the people's governments of cities and autonomous prefectures divided into districts and reported to the state-owned assets supervision and administration institutions of the people's governments of provinces, autonomous regions and municipalities directly under the Central Government for the record.

Enterprises in the State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government, as well as the people's governments of cities and autonomous prefectures divided into districts, shall be collectively referred to as the funded enterprises. Article 6 the State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government, and the people's governments of cities divided into districts and autonomous prefectures respectively set up state-owned assets supervision and administration institutions. The state-owned assets supervision and administration institution shall, according to the authorization, perform the responsibilities of the investor and supervise and manage the state-owned assets of enterprises according to law.

With the approval of the people's governments of provinces, autonomous regions and municipalities directly under the Central Government, cities and autonomous prefectures divided into districts with less state-owned assets of enterprises may not set up separate state-owned assets supervision and administration institutions. Article 7 People's governments at all levels shall strictly implement the laws and regulations on the management of state-owned assets, adhere to the separation of the government's social public management functions from the functions of state-owned assets investors, and adhere to the separation of government from enterprises and the separation of ownership and management rights.

State-owned assets supervision and administration institutions do not exercise the government's social public management functions, and other government agencies and departments do not perform the duties of investors in state-owned assets of enterprises. Article 8 The state-owned assets supervision and administration institution shall, in accordance with the provisions of these Regulations and other relevant laws and administrative regulations, establish and improve the internal supervision system and strictly implement the laws and administrative regulations. Article 9 In case of war, serious natural disasters or other major and emergency situations, the state may uniformly call and dispose of the state-owned assets of enterprises according to law. Article 10 The invested enterprises and the enterprises founded by them shall enjoy the autonomy of enterprise operation as stipulated by relevant laws and administrative regulations.

The state-owned assets supervision and administration institution shall support enterprises to operate independently according to law, and shall not interfere with the production and business activities of enterprises except performing the duties of investors. Eleventh funded enterprises should strive to improve economic efficiency and assume the responsibility of maintaining and increasing the value of the state-owned assets of the enterprises they manage.

The invested enterprise shall accept the supervision and management implemented by the state-owned assets supervision and administration institution according to law, and shall not harm the legitimate rights and interests of the owners of state-owned assets and other investors. Chapter II State-owned Assets Supervision and Administration Institution Article 12 the State Council State-owned Assets Supervision and Administration Institution is an ad hoc institution directly under the central government, which performs the responsibilities of investor on behalf of the State Council and is responsible for supervising and managing the state-owned assets of enterprises.

The state-owned assets supervision and administration institutions of the people's governments of provinces, autonomous regions and municipalities directly under the Central Government and the state-owned assets supervision and administration institutions of the people's governments of cities and autonomous prefectures divided into districts are directly affiliated ad hoc institutions that perform the responsibilities of investors on behalf of the governments at the corresponding levels and are responsible for the supervision and administration of the state-owned assets of enterprises.

The state-owned assets supervision and administration institution of the higher-level government shall guide and supervise the state-owned assets supervision and administration of the lower-level government according to law. Thirteenth state-owned assets supervision and administration institutions are mainly responsible for:

(a) in accordance with the "People's Republic of China (PRC) Company Law" and other laws and regulations, to fulfill the responsibilities of investors in the invested enterprises and safeguard the rights and interests of owners;

(two) to guide the reform and restructuring of state-owned and state-controlled enterprises;

(3) Appointing supervisors to the invested enterprise according to regulations;

(4) To appoint, remove and assess the responsible persons of the invested enterprises according to legal procedures, and reward and punish them according to the assessment results;

(five) through statistics, auditing and other means to supervise the maintenance and appreciation of state-owned assets of enterprises;

(six) to perform other duties of the investor and undertake other tasks assigned by the government at the same level.

In addition to the duties specified in the preceding paragraph, the state-owned assets supervision and administration institution of the State Council may formulate rules and regulations for the supervision and administration of state-owned assets of enterprises.