Recently, the China Appraisal Society ("CAS") has released the Guideline for Market Development of the Asset Appraisal Industry (2019) (the "Guideline 2019").
The Guideline 2019 clarifies as follows: 1. Based on the previous Guideline, businesses in asset appraisal industry shall be categorized into appraisal business, assessment business and consultation business; among which, "valuation" shall be deemed as an appraisal business. 2. Based on the existing categorization, under which there are 85 appraisal businesses, 12 assessment businesses and 29 consultation businesses, all businesses in the asset appraisal industry can be further divided by the demand side. 3. Economic behaviors are summarized, and relevant policy documents they involve are set out. Compared with the previous Guideline, the Guideline 2019 increases 45 specific economic behaviors that will trigger a business, adjust 9 and delete 7, making the total number 126. 4. The actual businesses carried out by the asset appraisal industry are not limited to those set out in the Guideline 2019 and will be updated by the CAS in due course.