SASAC: Operating rules on state-owned property transactions to be implemented next month

Xinhua Beijing, June 25, as a unified standard of enterprise State-owned property transactions, the State Council of State-owned Assets Supervision and Management Committee 25th issued the "Enterprise State-owned property transaction operation Rules", which also marks the domestic property market towards the rule of unification of the era.　　The rules are divided into eight chapters, mainly determine the basic content of the six major trading links, including the transfer of state-owned property applications, transfer information, the registration of the intention to register, the organization of transfer contracts, settlement of transaction funds and the issuance of transaction vouchers and other specific links. This March, SASAC issued a draft of the rules for soliciting opinions. The draft was prepared jointly by the SASAC and the property rights trading organization in Beijing, Tianjin, Shanghai and Chongqing 4.　　Different from the draft, the final rules will be applied from the four major exchanges to expand to the national property rights trading institutions, will vigorously promote the property market in the operation of the rules of the unification.　　In order to avoid the transfer price of state-owned property is lower than net assets, the transfer of the phenomenon of black-box operation, the rules stipulate that the state-owned property rights transfer of the first information announcement of the listing price shall not be lower than the record or approved the transfer of the assets evaluation results.　　The rules specifically point out that in the process of transferring state-owned property rights, the State-owned Assets supervision and administration institution may request the property right transaction to terminate the property right transaction. In order to guarantee the security of the transaction funds, the rules require that the property right trading institutions implement the unified approach and settlement system of transaction funds, open an independent settlement account and organize the funds for the transaction of property rights.