General Office of the Ministry of Finance

Notice on Strengthening the Management of State-owned Property Rights Trading Institutions in Financial Institutions

Finance Office Financial [2025] No. 9

The Finance Departments (Bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government, and municipalities with independent planning status, the Finance Bureau of the Xinjiang Production and Construction Corps, all centrally managed financial enterprises, and relevant property rights trading institutions:

In order to strengthen the supervision of asset transactions and property rights transfers of state-owned financial institutions, implement the management requirements for state-owned property rights entry transactions of financial institutions, and further standardize property rights trading institutions to carry out state-owned property rights trading business of financial institutions, the following notice is hereby notified:

1. Improve the review mechanism for state-owned property rights transactions of financial institutions

Property trading institutions (the following refer to property rights trading venues established or confirmed by provincial people's governments) should strictly follow the "Notice of the Ministry of Finance on Issuing the Interim Provisions on Standardizing the Management of State-owned Property Rights Trading Institutions in Financial Enterprises" (Caijin [2020] No. 92) and other relevant regulations, carry out state-owned property rights trading business in financial institutions within the approved business scope, and improve the list of materials for property rights trading projects. Property rights trading institutions shall review the authenticity, completeness and standardization of the property rights registration certificates (forms), economic behavior approval documents, asset appraisal documents, disclosure information and other materials provided by financial institutions in accordance with regulations, verify and compare key compliance information, and promptly, accurately and completely feedback the review information and other contents. Property rights trading institutions shall not accept property rights trading applications for defects in authenticity, completeness and normativeness of document information.

2. Strengthen the review of property rights registration information

The property rights registration certificate (form) objectively records the basic information of the property rights status of financial institutions, and is the basic basis for financial institutions to occupy and use state-owned financial capital in accordance with the law and confirm the ownership relationship of state-owned property rights. Property rights trading institutions should follow the "Ministry of Finance on Issuance of 3. Strengthen the review of the approval of economic behaviors for property rights trading in financial institutions. State-owned property rights trading shall comply with the approval procedures in accordance with regulations. Property rights trading institutions should strictly review the approval of economic behaviors for state-owned property rights transactions in financial institutions in accordance with the "Regulations on the Transfer of State-owned Assets of Financial Enterprises" (Ministry of Finance Order No. 54), the "Notice of the Ministry of Finance on Implementing the Management Measures for the Transfer of State-owned Assets of Financial Enterprises" (Caijin [2009] No. 178) and other relevant regulations, and verify whether the content of property rights transactions is consistent with the approval matters for economic behaviors, and confirm that the economic behavior is approved by the authorized approval department. If the approval matters for the economic behavior of state-owned property rights transactions in financial institutions are inconsistent with the application for property rights transactions and the approval procedures do not comply with the system regulations, the property rights transaction institution shall not accept property rights transaction applications.

4. Strengthen the review of asset appraisal documents and transfer price

The documents approved by the financial department to be approved by the asset appraisal project and the asset appraisal project filing form filed by the financial department (or the headquarters of the financial institution), as well as audit reports, appraisal reports and other documents are essential materials for financial institutions to handle property rights transactions. If the relevant documents are missing, the property rights trading institution shall not accept property rights transaction applications. Property rights trading institutions should strictly review and compare the relevant appraisal documents in accordance with the "Interim Measures for Supervision and Administration of State-owned Assets Appraisal of Financial Enterprises" (Ministry of Finance Order No. 47), and focus on whether the appraisal objects, scope of appraisal, transaction content in the review documents are consistent with the property rights transaction application and economic behavior approval documents, compliance at the approval or filing level of asset appraisal project, and compliance with the transfer base price. If the listing is not the first time and the transfer base price is lower than the appraisal result, the previous listing situation should be further reviewed; if the listing price is lower than 90% of the asset appraisal result, the relevant approval documents should be further reviewed.

5. Strengthen the management of state-owned property rights transaction information of financial institutions

Property trading institutions should strengthen the management of state-owned property rights transaction business information of financial institutions, improve the internal management system, publicly disclose property rights transaction information in accordance with relevant national regulations, promptly report the state-owned property rights transaction situation of financial institutions on-site to provincial and above financial departments as required, implement relevant requirements for the custody of state-owned property rights transaction archives of financial institutions, and actively cooperate with the financial department to do a good job in collecting and summarizing state-owned property rights transaction information of financial institutions, and publicizing relevant policies.

VI. Strengthen supervision and management of property rights trading institutions

All provincial financial departments should strengthen daily supervision and management of property rights trading institutions for property rights trading institutions in accordance with regulations. If they fail to conduct state-owned property rights trading in financial institutions in accordance with the requirements of this notice and relevant regulations, or if they commit fraud, neglect their duties, harm national interests or the legitimate rights and interests of both parties to the transaction, they should immediately stop the qualifications of the relevant property rights trading institutions to engage in state-owned property rights trading business in financial institutions and announce them to the public in accordance with regulations.

Not hereby notify.

General Office of the Ministry of Finance

March 16, 2025