The Measures for Financial Supervision and Management of Assets Appraisal Industry have been deliberated and adopted at the ministerial meeting of the Ministry of Finance, and are hereby promulgated, and shall come into force as of June 1 2065438.
Chapter I General Principles
Article 1 In order to strengthen the financial supervision and management of the asset appraisal industry and promote the healthy development of the asset appraisal industry, these Measures are formulated in accordance with the Assets Appraisal Law of People's Republic of China (PRC) (hereinafter referred to as the Asset Appraisal Law) and other laws and administrative regulations and the relevant provisions of the State Council.
Article 2 These Measures shall apply to the professional service behaviors of asset appraisal institutions and their asset appraisal professionals entrusted to evaluate and estimate individual assets, asset portfolios, enterprise values, financial rights and interests, asset losses or other economic rights and interests, as well as the supervision and management of the asset appraisal industry by the financial department.
Where an asset appraisal institution and its asset appraisal professionals are engaged in the business specified in the preceding paragraph, involving the management of other appraisal administrative departments as stipulated by laws, administrative regulations and the State Council, other relevant provisions shall apply.
Article 3 For the statutory asset appraisal business (hereinafter referred to as the statutory asset appraisal business) that involves matters such as state-owned assets or public interests within the scope specified in Article 2 of these Measures and needs to be appraised according to laws and administrative regulations, the client shall entrust an asset appraisal institution to conduct appraisal in accordance with the Assets Appraisal Law and relevant laws and administrative regulations.
Article 4 The financial department shall implement the principle of combining administrative supervision, industry self-discipline and institutional self-discipline in the supervision and management of the asset appraisal industry.
Article 5 The Ministry of Finance shall be responsible for coordinating the supervision and management of the financial departments over the national asset appraisal industry, formulating relevant supervision and management measures and basic standards for asset appraisal, and guiding and urging local financial departments to implement supervision and management.
The Ministry of Finance is responsible for the supervision and management of asset appraisal institutions engaged in securities and futures-related asset appraisal business.
Article 6 The financial departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning (hereinafter referred to as provincial financial departments) shall be responsible for the supervision and management of the asset appraisal industry within their respective administrative areas.
Article 7 China Asset Appraisal Association shall be responsible for the self-discipline management of the national asset appraisal industry in accordance with laws, administrative regulations, these Measures and its articles of association.
The local asset appraisal association shall be responsible for the self-discipline management of the asset appraisal industry in the region in accordance with laws, regulations, these Measures and the articles of association.
Article 8 An asset appraisal institution engaged in asset appraisal business shall not be restricted by administrative regions or industries according to law, except under the circumstances stipulated in Article 16 of these Measures, and no organization or individual may illegally interfere.