Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016)
Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016)
Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016)
She Bao Ji Jin Ting Fa [2016] No.97
September 20, 2016
The Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016) were deliberated and adopted at the chairman's executive meeting and have been officially promulgated for implementation as of September 20, 2016.
Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016)
Chapter I General Provisions
Article 1 In order to promote the development of the trust loan investment business of the National Social Security Fund (the "NSSF") and further perfect and regulate the relevant systems, the Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016) (these "Measures") are hereby formulated in accordance with the relevant laws and regulations and the Circular on Adjusting the Scope and Examination and Approval Manners of the Investment of the National Social Security Fund (Cai Jin [2007] No.37) and the Circular on Perfecting the Guarantee Types of the Trust Loan Project Investment of the National Social Security Fund (Cai Jin Han [2016] No.16) issued by the Ministry of Finance and the Ministry of Human Resources and Social Security.
Article 2 The term "trust loan project investment" as used in these Measures refers to the NSSF's investment by granting trust loans to eligible borrowers through trust companies based on the principles of safety, profitability and compliance and according to the policies approved by regulatory authorities.
Article 3 For the NSSF's trust loan investment, it is required to continue to strengthen the scientific fine management, prevent investment risks, improve investment returns, focus on openness and transparency while paying attention to the social benefits, and the investment proportion and single project investment scale shall comply with the regulatory policies and regulations.
Article 4 The Equity Asset Department (Industrial Investment Department) of the National Council for Social Security Fund (hereinafter referred to as the "Equity Department") is the functional department responsible for trust loan project investment and shall, according to the requirements for allocation of the NSSF's assets, be responsible for the preparation of trust loan project investment planning and for the organization of the implementation of the plan approved in accordance with standard procedures.
Chapter II Basic Requirements for Investment
Article 5 The NSSF's trust loan projects shall meet the following requirements:
1. the trust loan investment shall be in line with national industrial policies and shall be applicable mainly to the construction of the urban and rural infrastructures that enjoy special State support for the construction of affordable housing and the development of the key industries and areas encouraged by the State;
2. be in line with the relevant provisions of the relevant departments of the State on trust loans and complete the examination or approval procedures specified by relevant laws and regulations;
3. a joint and several liability guarantee shall be provided by an eligible bank or large enterprise for the borrower; and
4. the project shall be under the trustee management of an eligible trust company.
Article 6 The borrower of the NSSF's trust loan projects shall meet the following requirements:
1. in principle, it shall be a large and medium-sized enterprise with larger-scale assets, stronger strength and better prospects for development;
2. it shall have valid and effective main body qualifications, a corporate governance structure in line with legal provisions and internal management standards;
3. it shall have clear main assets and a steady financial situation and have no significant debt disputes;
4.
......
She Bao Ji Jin Ting Fa [2016] No.97
September 20, 2016
The Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016) were deliberated and adopted at the chairman's executive meeting and have been officially promulgated for implementation as of September 20, 2016.
Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016)
Chapter I General Provisions
Article 1 In order to promote the development of the trust loan investment business of the National Social Security Fund (the "NSSF") and further perfect and regulate the relevant systems, the Interim Measures for the Administration of National Social Security Fund's Investment in Trust Loans (Revised in 2016) (these "Measures") are hereby formulated in accordance with the relevant laws and regulations and the Circular on Adjusting the Scope and Examination and Approval Manners of the Investment of the National Social Security Fund (Cai Jin [2007] No.37) and the Circular on Perfecting the Guarantee Types of the Trust Loan Project Investment of the National Social Security Fund (Cai Jin Han [2016] No.16) issued by the Ministry of Finance and the Ministry of Human Resources and Social Security.
Article 2 The term "trust loan project investment" as used in these Measures refers to the NSSF's investment by granting trust loans to eligible borrowers through trust companies based on the principles of safety, profitability and compliance and according to the policies approved by regulatory authorities.
Article 3 For the NSSF's trust loan investment, it is required to continue to strengthen the scientific fine management, prevent investment risks, improve investment returns, focus on openness and transparency while paying attention to the social benefits, and the investment proportion and single project investment scale shall comply with the regulatory policies and regulations.
Article 4 The Equity Asset Department (Industrial Investment Department) of the National Council for Social Security Fund (hereinafter referred to as the "Equity Department") is the functional department responsible for trust loan project investment and shall, according to the requirements for allocation of the NSSF's assets, be responsible for the preparation of trust loan project investment planning and for the organization of the implementation of the plan approved in accordance with standard procedures.
Chapter II Basic Requirements for Investment
Article 5 The NSSF's trust loan projects shall meet the following requirements:
1. the trust loan investment shall be in line with national industrial policies and shall be applicable mainly to the construction of the urban and rural infrastructures that enjoy special State support for the construction of affordable housing and the development of the key industries and areas encouraged by the State;
2. be in line with the relevant provisions of the relevant departments of the State on trust loans and complete the examination or approval procedures specified by relevant laws and regulations;
3. a joint and several liability guarantee shall be provided by an eligible bank or large enterprise for the borrower; and
4. the project shall be under the trustee management of an eligible trust company.
Article 6 The borrower of the NSSF's trust loan projects shall meet the following requirements:
1. in principle, it shall be a large and medium-sized enterprise with larger-scale assets, stronger strength and better prospects for development;
2. it shall have valid and effective main body qualifications, a corporate governance structure in line with legal provisions and internal management standards;
3. it shall have clear main assets and a steady financial situation and have no significant debt disputes;
4.
......