Measures for the Supervision and Administration of Investments Made by Central Enterprises
Measures for the Supervision and Administration of Investments Made by Central Enterprises
Measures for the Supervision and Administration of Investments Made by Central Enterprises
Order of the State-owned Asset Supervision and Administration Commission of the State Council No.34
January 7, 2017
The Measures for the Supervision and Administration of Investments Made by Central Enterprises, which were deliberated and adopted at the chairman's executive meeting of the State-owned Asset Supervision and Administration Commission of the State Council, are hereby promulgated and shall take effect as of the date of promulgation. The Interim Measures for the Supervision and Administration of the Investments by Central Enterprises (Guo Zi Wei Ling No.16) issued in 2006 shall be repealed simultaneously.
Xiao Yaqing, Chairman of the State-owned Asset Supervision and Administration Commission of the State Council
Measures for the Supervision and Administration of Investments Made by Central Enterprises
Chapter I General Provisions
Article 1 These Measures are formulated in accordance with the laws, regulations and documents including the Company Law of the People's Republic of China, the Enterprise State-owned Assets Law of the People's Republic of China, the Guiding Opinions on Deepening State-Owned Enterprise Reform (Zhong Fa [2015] No.22) and the Several Opinions on Reforming and Perfecting the State-owned Asset Management System (Guo Fa [2015] No.63), in order to perform the duties of the contributor according to the law, establish and improve a regulatory system for state-owned assets focusing on the management of capital, facilitate the regulation of investment management by central enterprises, optimize the layout and structure of state-owned capital, and better fulfill the responsibility to preserve and increase the value of state-owned capital.
Article 2 For the purpose of these Measures, "central enterprises" refer to the state funded enterprises for which the State-owned Asset Supervision and Administration Commission of the State Council ("SASAC") performs the duties of the contributor on behalf of the State Council; "investments" refer to the fixed-asset investments and equity investments made by central enterprises within the territory of the People's Republic of China; "a major investment project" refers to the investment project of a central enterprise as decided by its board of directors upon discussion in accordance with its articles of association as well as investment management policy and provisions; and "main business" refers to the main lines of business of a central enterprise as determined in accordance with the development strategy and planning of the central enterprise and published upon confirmation by the SASAC; and "other business" refers to lines of business other than the main business.
Article 3 The SASAC shall, under the guidance of the national development strategy and the outline of the five-year development plan for central enterprises and with focuses on grasping the investment direction, optimizing the capital layout, rigorously enforcing the decision-making procedures, regulating capital operations, increasing returns on capital and maintaining the safety of capital, establish an investment supervision and administration system featuring information symmetry, appropriate responsibilities and powers, standard operation and effective risk control according to the law, so as to facilitate the more intensified whole-process regulation of investment behaviors in all respects by central enterprises.
Article 4 The SASAC instructs central enterprises to establish and improve their own investment management policies, urges them to prepare and submit annual investment plans according to their own development strategies and planning, implements filing management for the central enterprises' annual investment plans, develops a negative list of investment projects for central enterprises to carry out classified management of investment projects of central enterprises, supervises and inspects the execution of central enterprises' investment management policies as well as the decision-making and implementation in respect of major investment projects, organizes and conducts post-project evaluation of major investment projects, and investigates the liability for any loss of state-owned assets or other serious adverse effect arising from any unlawful investment.
Article 5 Central enterprises shall make investments with a view to serving the national development strategy, reflecting the contributor's intention of investment, complying with their own development planning, continuing to focus on their main business, vigorously fostering and developing strategic emerging industries, strictly controlling investment in other business, following the concept of value creation, strictly observing the investment decision-making procedures, improving the investment returns, and preventing any loss of state-owned assets.
Article 6 As the entity to make decisions, implement and take responsibilities for an investment project, a central enterprise shall establish an investment management system, improve its investment management policy, optimize its investment management information system, develop investment plans reasonably, and make a negative list of investment projects, so as to effectively enhance the project management, improve the capability of investment risk prevention and control, and perform the obligations of submitting investment information and providing assistance in supervision and inspection.
Chapter II Development of an Investment Regulatory System
Article 7 Central enterprises shall, in accordance with these Measures, establish a sound investment management system on the basis of their own actualities.
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Order of the State-owned Asset Supervision and Administration Commission of the State Council No.34
January 7, 2017
The Measures for the Supervision and Administration of Investments Made by Central Enterprises, which were deliberated and adopted at the chairman's executive meeting of the State-owned Asset Supervision and Administration Commission of the State Council, are hereby promulgated and shall take effect as of the date of promulgation. The Interim Measures for the Supervision and Administration of the Investments by Central Enterprises (Guo Zi Wei Ling No.16) issued in 2006 shall be repealed simultaneously.
Xiao Yaqing, Chairman of the State-owned Asset Supervision and Administration Commission of the State Council
Measures for the Supervision and Administration of Investments Made by Central Enterprises
Chapter I General Provisions
Article 1 These Measures are formulated in accordance with the laws, regulations and documents including the Company Law of the People's Republic of China, the Enterprise State-owned Assets Law of the People's Republic of China, the Guiding Opinions on Deepening State-Owned Enterprise Reform (Zhong Fa [2015] No.22) and the Several Opinions on Reforming and Perfecting the State-owned Asset Management System (Guo Fa [2015] No.63), in order to perform the duties of the contributor according to the law, establish and improve a regulatory system for state-owned assets focusing on the management of capital, facilitate the regulation of investment management by central enterprises, optimize the layout and structure of state-owned capital, and better fulfill the responsibility to preserve and increase the value of state-owned capital.
Article 2 For the purpose of these Measures, "central enterprises" refer to the state funded enterprises for which the State-owned Asset Supervision and Administration Commission of the State Council ("SASAC") performs the duties of the contributor on behalf of the State Council; "investments" refer to the fixed-asset investments and equity investments made by central enterprises within the territory of the People's Republic of China; "a major investment project" refers to the investment project of a central enterprise as decided by its board of directors upon discussion in accordance with its articles of association as well as investment management policy and provisions; and "main business" refers to the main lines of business of a central enterprise as determined in accordance with the development strategy and planning of the central enterprise and published upon confirmation by the SASAC; and "other business" refers to lines of business other than the main business.
Article 3 The SASAC shall, under the guidance of the national development strategy and the outline of the five-year development plan for central enterprises and with focuses on grasping the investment direction, optimizing the capital layout, rigorously enforcing the decision-making procedures, regulating capital operations, increasing returns on capital and maintaining the safety of capital, establish an investment supervision and administration system featuring information symmetry, appropriate responsibilities and powers, standard operation and effective risk control according to the law, so as to facilitate the more intensified whole-process regulation of investment behaviors in all respects by central enterprises.
Article 4 The SASAC instructs central enterprises to establish and improve their own investment management policies, urges them to prepare and submit annual investment plans according to their own development strategies and planning, implements filing management for the central enterprises' annual investment plans, develops a negative list of investment projects for central enterprises to carry out classified management of investment projects of central enterprises, supervises and inspects the execution of central enterprises' investment management policies as well as the decision-making and implementation in respect of major investment projects, organizes and conducts post-project evaluation of major investment projects, and investigates the liability for any loss of state-owned assets or other serious adverse effect arising from any unlawful investment.
Article 5 Central enterprises shall make investments with a view to serving the national development strategy, reflecting the contributor's intention of investment, complying with their own development planning, continuing to focus on their main business, vigorously fostering and developing strategic emerging industries, strictly controlling investment in other business, following the concept of value creation, strictly observing the investment decision-making procedures, improving the investment returns, and preventing any loss of state-owned assets.
Article 6 As the entity to make decisions, implement and take responsibilities for an investment project, a central enterprise shall establish an investment management system, improve its investment management policy, optimize its investment management information system, develop investment plans reasonably, and make a negative list of investment projects, so as to effectively enhance the project management, improve the capability of investment risk prevention and control, and perform the obligations of submitting investment information and providing assistance in supervision and inspection.
Chapter II Development of an Investment Regulatory System
Article 7 Central enterprises shall, in accordance with these Measures, establish a sound investment management system on the basis of their own actualities.
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