Interim Measures for the State-Owned Assets Administration of Public Institutions

Interim Measures for the State-Owned Assets Administration of Public Institutions

Order of the Ministry of Finance [2006] No. 36

May 30, 2006

Chapter I General Provisions

Article 1 With a view to standardizing and strengthening the administration of the state-owned assets of public institutions, maintaining the safety and integrity of the state-owned assets, rationally allocating and effectively utilizing the state-owned assets, guaranteeing and promoting the development of all undertakings and establishing a system for the administration of the state-owned assets of public institutions that meets the requirements of the socialist market economy and public finance, we, in accordance with the relevant regulations of the State Council, worked out these Measures.

Article 2 These Measures shall be applicable to the administration of the state-owned assets of public institutions at all levels.

Article 3 The "state-owned assets of public institutions" as mentioned in these Measures refer to various economic resources that are possessed and utilized by public institutions, are identified to be owned by the State in accordance with law and are measurable by money value, namely, the state-owned (public) assets of public institutions.
The state-owned assets of public institutions include the assets appropriated by the State to public institutions, assets formed by public institutions' revenue organization of the state-owned assets in accordance with the regulations of the State as well as assets formed by donations and other assets that have been identified to be owned by the State in accordance with law, in the forms of current assets, fixed assets, intangible assets, external investment, etc.

Article 4 The administration of the state-owned assets of public institutions shall be subject to the principles of combining asset administration and budgetary administration, and the quota system of expenses of physical objects shall promote the integration and sharing of public institutions' assets, and accomplish the close unification of asset administration and budgetary administration; and shall be subject to the principles of separating ownership from use right, and the principles of combining asset administration and financial administration as well as combining physical administration and value administration.

Article 5 The administration of the state-owned assets of public institutions shall be subject to the administrative system of uniform ownership by the State, level-to-level supervision and administration by governments, and possession and utilization by public institutions.

Chapter II Administrative Public Institutions and Functions and Duties Thereof

Article 6 Financial departments at all levels are the functional departments in charge of the administration of the state-owned assets of public institutions, which conduct comprehensive administration of the state-owned assets of public institutions by performing major functions and duties as follows:
1. Working out the rules and regulations for the administration of the state-owned assets of public institutions and organizing their implementation, supervision and inspection in accordance with the relevant regulations of the State on the administration of state-owned assets;
2. Studying and working out the standards for allocating physical assets and the relevant expense standards of public institutions at the same level, and organizing fundamental administration of the state-owned assets of public institutions at the same level such as registration of property rights, delimitation of property rights, investigation into and settlement of disputes on property right, supervision and administration of asset appraisal, asset inspection and preparation of statistical reports;
3. Examining and approving, within the stipulated authority, the matters of public institutions at the same level such as purchase and disposal of assets, as well as external investment, lease, lending and guaranty with state-owned assets, organizing the adjustment of the assets that have been left unused for a long period of time, operate inefficiently and are allocated beyond the standards, and establishing a mechanism of integrating and sharing the state-owned assets of public institutions;
4. Promoting the marketization and socialization of the mature state-owned assets of the public institutions at the same level, and strengthening the supervision and administration of the state-owned assets of public institutions during restructuring them into enterprises;
5. Being responsible for supervising and administrating the income from the state-owned assets of public institutions at the same level;
6. Establishing and improving the information systems of the state-owned assets of public institutions to conduct dynamic administration of the state-owned assets of public institutions;
7. Studying and working out the relevant assessment measures, assessment standards and assessment mechanism for the safety, integrity and utilization effectiveness of the state-owned assets of public institutions, and conducting performance-based administration of the state-owned assets of public institutions; and
8. Supervising and guiding the administration of the state-owned assets of public institutions at the same level, the competent authorities and the financial departments at the next lower level.

Article 7 The competent authorities of public institutions (hereinafter referred to as the competent authorities) shall conduct supervision and administration of the state-owned assets of the public institutions under them by performing major functions and duties as follows:
1. Working out the measures for implementing the administration of the state-owned assets of the public institutions under the competent department, and organizing, supervising and examining the implementation of the measures in accordance with the regulations of the financial departments at the same and the next higher level on the administration of state-owned assets.
2. Organizing the check, registration, statistical summary as well as daily supervision and examination of the state-owned assets of public institutions under the competent department;
3. Examining and approving the matters of the public institutions under the competent department such as external investment, lease, lending and guaranty with state-owned assets, and examining and approving the matters concerning purchase and disposal of assets within the stipulated authority;
4. Being responsible for adjusting the assets of the public institutions under the competent department that have been left unused for a long period of time, operate inefficiently and are allocated beyond the standards, optimizing the allocation of the state-owned assets of the public institutions and promoting the sharing of the state-owned assets of the public institutions;
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