Circular on Comprehensively Promoting the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund
Circular on Comprehensively Promoting the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund
Circular on Comprehensively Promoting the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund
Cai Zi [2019] No. 49
September 10, 2019
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, ministries and commissions under and institutions directly affiliated to the State Council, Xinjiang Production and Construction Corps, and enterprises under the management of the Central Government as well as China Securities Depository and Clearing Corporation Limited,
With a view to comprehensively promoting the transfer of a portion of state-owned capital to replenish the social insurance fund at the central and local levels, relevant matters are hereby notified as follows upon the consent of the State Council:
I. The transfer of a portion of state-owned capital to replenish the social insurance fund at the central and local levels shall be comprehensively promoted in 2019. To be specific, at the central level, enterprises with conditions shall basically complete the work prior to the end of 2019; those with difficulties therein may complete it prior to the end of 2020, and those run by administrative institutions under the Central Government may carry out the transfer after the completion of centralized and unified regulatory reform; and at the local level, the transfer work shall be basically completed prior to the end of 2020.
II. State-owned shareholders shall effectively carry out the transfer of equities from relevant enterprises, and propel the enterprises to go through relevant formalities in a timely manner. Undertaking entities shall effectively carry out solid work on receiving such enterprise equities, ensure the centralized holding and separate accounting of received equities, and accept relevant assessment and supervision. State-owned equities transferred from local enterprises shall be held, managed and operated in a unified manner by a wholly state-owned company established by each people's government at the provincial level, or entrusted to a company with state-owned capital investment and operation functions for management through a special account.
III. People's governments of all provinces (autonomous regions and municipalities directly under the Central Government) shall take the overall responsibility for the transfer work in their respective administrative regions, strengthen organizational leadership, develop concrete implementing measures in light of their respective actualities and ensure the completion of the transfer task as required; and meanwhile, strengthen the supervision and management of undertaking entities, and ensure the use of transferred state-owned capital exclusive for making up the gap in the basic pension insurance funds for enterprise employees. Relevant departments of finance, human resources and social security, and state-owned asset regulation, etc., at all levels shall strengthen collaboration and cooperation to earnestly perform their duties.
IV. The Measures for Handling Relevant Matters Concerning the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund (hereinafter referred to as the "Handling Measures") are formulated with a view to promoting the transfer work in an active and steady, standardized and orderly manner in light of the pilot work, which shall come into effect as of the issuance date of this Circular for your compliance and implementation.
Appendix: Measures for Handling Relevant Matters Concerning the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund
These Handling Measures are formulated in accordance with the Circular of the State Council on Issuing the Implementing Plan for Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund (Guo Fa [2017] No.
......
Cai Zi [2019] No. 49
September 10, 2019
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, ministries and commissions under and institutions directly affiliated to the State Council, Xinjiang Production and Construction Corps, and enterprises under the management of the Central Government as well as China Securities Depository and Clearing Corporation Limited,
With a view to comprehensively promoting the transfer of a portion of state-owned capital to replenish the social insurance fund at the central and local levels, relevant matters are hereby notified as follows upon the consent of the State Council:
I. The transfer of a portion of state-owned capital to replenish the social insurance fund at the central and local levels shall be comprehensively promoted in 2019. To be specific, at the central level, enterprises with conditions shall basically complete the work prior to the end of 2019; those with difficulties therein may complete it prior to the end of 2020, and those run by administrative institutions under the Central Government may carry out the transfer after the completion of centralized and unified regulatory reform; and at the local level, the transfer work shall be basically completed prior to the end of 2020.
II. State-owned shareholders shall effectively carry out the transfer of equities from relevant enterprises, and propel the enterprises to go through relevant formalities in a timely manner. Undertaking entities shall effectively carry out solid work on receiving such enterprise equities, ensure the centralized holding and separate accounting of received equities, and accept relevant assessment and supervision. State-owned equities transferred from local enterprises shall be held, managed and operated in a unified manner by a wholly state-owned company established by each people's government at the provincial level, or entrusted to a company with state-owned capital investment and operation functions for management through a special account.
III. People's governments of all provinces (autonomous regions and municipalities directly under the Central Government) shall take the overall responsibility for the transfer work in their respective administrative regions, strengthen organizational leadership, develop concrete implementing measures in light of their respective actualities and ensure the completion of the transfer task as required; and meanwhile, strengthen the supervision and management of undertaking entities, and ensure the use of transferred state-owned capital exclusive for making up the gap in the basic pension insurance funds for enterprise employees. Relevant departments of finance, human resources and social security, and state-owned asset regulation, etc., at all levels shall strengthen collaboration and cooperation to earnestly perform their duties.
IV. The Measures for Handling Relevant Matters Concerning the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund (hereinafter referred to as the "Handling Measures") are formulated with a view to promoting the transfer work in an active and steady, standardized and orderly manner in light of the pilot work, which shall come into effect as of the issuance date of this Circular for your compliance and implementation.
Appendix: Measures for Handling Relevant Matters Concerning the Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund
These Handling Measures are formulated in accordance with the Circular of the State Council on Issuing the Implementing Plan for Transfer of a Portion of State-owned Capital to Replenish the Social Insurance Fund (Guo Fa [2017] No.
......