Legal basis: Article 239 of the Procedures for Handling Criminal Cases by Public Security Organs requires freezing the property of criminal suspects. With the approval of the person in charge of the public security organ at or above the county level, a notice of assistance in freezing property shall be made, stating the account name, account number, freezing amount, freezing period, freezing scope and whether it is beneficial to fruits, and notifying financial institutions and other units to assist in handling it.
The freezing of equity and policy rights and interests shall be approved by the person in charge of the public security organ at or above the municipal level.
The freezing of the equity of a listed company shall be approved by the person in charge of the public security organ at or above the provincial level.
Article 241 of the Procedures of Public Security Organs for Handling Criminal Cases stipulates that if it is not necessary to continue to freeze the property of a criminal suspect, it shall be approved by the person in charge of the public security organ that originally approved the freezing, and a notice of assistance in unfreezing the property shall be made to inform financial institutions and other units to assist in handling it.
Article 243rd of the Procedures for Handling Criminal Cases by Public Security Organs: The time limit for freezing deposits, remittances, securities trading settlement funds, futures deposits and other property is six months. The maximum period of each freeze shall not exceed six months.
For major and complicated cases, with the approval of the person in charge of the public security organ at or above the municipal level, the time limit for freezing deposits, remittances, securities trading settlement funds, futures deposits and other property can be one year. The maximum period of each freeze shall not exceed one year.