法律文本

中華人民共和國企業國有資產法

Law of the People’s Republic of China on State-Owned Assets of Enterprises

中華人民共和國主席令第五號

Order of the President of the People's Republic of China No.5

《中華人民共和國企業國有資產法》已由中華人民共和國第十一屆全國人民代表大會常務委員會第五次會議於2008年10月28日通過，現予公布，自2009年5月1日起施行。

The Law of the People's Republic of China on State-owned Assets in Enterprises, adopted at the 5th Meeting of the Standing Committee of the 11th National People's Congress of the People's Republic of China on 28 October 2008, is hereby promulgated and shall go into effect as of 1 May 2009.

中華人民共和國主席 胡錦濤

President Hu Jintao

2008年10月28日

October 28, 2008

（2008年10月28日第十一屆全國人民代表大會常務委員會第五次會議通過）

(Adopted at the Fifth Meeting of the Standing Committee of the 11th National People's Congress on 28 October 2008)

第一章 總 則

Chapter 1 General Provisions

第一條   為了維護國家基本經濟制度，鞏固和發展國有經濟，加強對國有資產的保護，發揮國有經濟在國民經濟中的主導作用，促進社會主義市場經濟發展，制定本法。

Article 1 This Law is formulated in order to maintain the basic economic system of the state, to consolidate and develop the state-owned economy, to strengthen the protection of state-owned assets, to enable the state-owned economy to play a leading role in the national economy, and to promote the development of the socialist market economy.

第二條   本法所稱企業國有資產（以下稱國有資產），是指國家對企業各種形式的出資所形成的權益。

Article 2 The term "state-owned assets in enterprises" (hereinafter referred to as state-owned assets) as used in this Law refers to rights and interests arising from the State's capital contributions of all types to enterprises.

第三條   國有資產屬於國家所有即全民所有。國務院代表國家行使國有資產所有權。

Article 3 State-owned assets belong to the State, i.e., are owned by the whole people. The State Council shall exercise the ownership of state-owned assets on behalf of the State.

第四條   國務院和地方人民政府依照法律、行政法規的規定，分別代表國家對國家出資企業履行出資人職責，享有出資人權益。

Article 4 The State Council and local people's governments shall, in accordance with laws and administrative regulations, perform the responsibilities of an investor and exercise investors' rights to state-invested enterprises respectively on behalf of the State.

國務院確定的關系國民經濟命脈和國家安全的大型國家出資企業，重要基礎設施和重要自然資源等領域的國家出資企業，由國務院代表國家履行出資人職責。其他的國家出資企業，由地方人民政府代表國家履行出資人職責。

With regard to large state-invested enterprises which are recognized by the State Council as enterprises that affect the lifeline of the national economy and national security, as well as state-invested enterprises in the fields of important infrastructure and vital natural resources, investors' duties shall be performed by the State Council on behalf of the State. For other state-invested enterprises, the duties of an investor shall be performed by local governments on behalf of the state.

第五條   本法所稱國家出資企業，是指國家出資的國有獨資企業、國有獨資公司，以及國有資本控股公司、國有資本參股公司。

Article 5 The term "state-invested enterprises" as used in this Law refers to wholly state-owned enterprises or companies to which the State contributes capital, as well as companies controlled or participated in by state-owned capital.

第六條   國務院和地方人民政府應當按照政企分開、社會公共管理職能與國有資產出資人職能分開、不幹預企業依法自主經營的原則，依法履行出資人職責。

Article 6 The State Council and local people's governments shall, in accordance with the principle of separating government functions from enterprise management, separating the social and public administrative functions from the functions of state-owned asset investors, and refraining from intervening in the lawful and independent operation of enterprises, perform investors' duties in accordance with the law.

第七條   國家采取措施，推動國有資本向關系國民經濟命脈和國家安全的重要行業和關鍵領域集中，優化國有經濟布局和結構，推進國有企業的改革和發展，提高國有經濟的整體素質，增強國有經濟的控制力、影響力。

Article 7 The state shall take measures to promote the concentration of state-owned capital in important industries and key areas concerning the lifeline of the national economy and national security, optimize the layout and structure of the state-owned economy, promote the reform and development of state-owned enterprises, improve the overall quality of the state-owned economy, and strengthen the control and influence of the state-owned economy.

第八條   國家建立健全與社會主義市場經濟發展要求相適應的國有資產管理與監督體制，建立健全國有資產保值增值考核和責任追究制度，落實國有資產保值增值責任。

Article 8 The State is to establish and improve the state-owned assets administration and supervision system commensurate with the development of the socialist market economy, establish and improve the evaluation and accountability system for maintaining and increasing the value of state-owned assets, and designate the responsibilities for maintaining and increasing the value of state-owned assets to specific persons.

第九條   國家建立健全國有資產基礎管理制度。具體辦法按照國務院的規定制定。

Article 9 The State establishes a sound basic management system for state-owned assets. Specific measures shall be formulated in accordance with the provisions of the State Council.

第十條   國有資產受法律保護，任何單位和個人不得侵害。

Article 10 State-owned assets shall be protected by law, and no entity or individual may infringe such assets.

第二章 履行出資人職責的機構

Chapter 2 Organs that Perform the Duties of an Investor

第十一條   國務院國有資產監督管理機構和地方人民政府按照國務院的規定設立的國有資產監督管理機構，根據本級人民政府的授權，代表本級人民政府對國家出資企業履行出資人職責。

Article 11 The State-owned Assets Supervision and Administration Commission under the State Council and state-owned assets supervision and administration organs established by local governments in accordance with the requirements of the State Council shall, subject to the authorization of the government at the same level, perform the duties of an investor for state-invested enterprises on behalf of the governments at the same level.

國務院和地方人民政府根據需要，可以授權其他部門、機構代表本級人民政府對國家出資企業履行出資人職責。

The State Council and local people's governments may, where necessary, authorize other departments and organs to perform investors' duties for state-invested enterprises on behalf of the government at the same level.

代表本級人民政府履行出資人職責的機構、部門，以下統稱履行出資人職責的機構。

Organs and departments that perform investors' duties on behalf of the government at the same level are hereinafter referred to as organs that perform the duties of an investor.

第十二條   履行出資人職責的機構代表本級人民政府對國家出資企業依法享有資產收益、參與重大決策和選擇管理者等出資人權利。

Article 12 Organs that perform the duties of an investor enjoy investors' rights to state-invested enterprises, such as the right to profit from their assets, the right to participate in the making of major decisions and the selection of managers, on behalf of the government at the same level.

履行出資人職責的機構依照法律、行政法規的規定，制定或者參與制定國家出資企業的章程。

Organs that perform the duties of an investor shall, in accordance with laws and administrative regulations, formulate or participate in formulating the articles of association of state-invested enterprises.

履行出資人職責的機構對法律、行政法規和本級人民政府規定須經本級人民政府批準的履行出資人職責的重大事項，應當報請本級人民政府批準。

Organs that perform the duties of an investor shall seek approval from the government at the same level on major matters relating to investors' duties that require the approval of the government at the same level in accordance with laws, administrative regulations and the regulations of the government at the same level.

第十三條   履行出資人職責的機構委派的股東代表參加國有資本控股公司、國有資本參股公司召開的股東會會議、股東大會會議，應當按照委派機構的指示提出提案、發表意見、行使表決權，並將其履行職責的情況和結果及時報告委派機構。

Article 13 When participating in any shareholders' meeting or general meeting of shareholders held by a company controlled or participated in by state-owned capital, shareholders appointed by organs to perform the duties of an investor shall, in accordance with the instructions of the appointing organ, make proposals, express opinions, exercise voting rights and report to the appointing organ in a timely manner on the performance of their duties and the results thereof.

第十四條   履行出資人職責的機構應當依照法律、行政法規以及企業章程履行出資人職責，保障出資人權益，防止國有資產損失。

Article 14 Organs that perform the duties of an investor shall, in accordance with laws, administrative regulations and enterprises' articles of association, perform investors' duties, safeguard investors' rights and interests and prevent the loss of state-owned assets.

履行出資人職責的機構應當維護企業作為市場主體依法享有的權利，除依法履行出資人職責外，不得幹預企業經營活動。

Organs that perform the duties of an investor shall protect the lawful rights of enterprises as market subjects and shall not intervene in enterprises' operations other than when performing investors' duties in accordance with the law.

第十五條   履行出資人職責的機構對本級人民政府負責，向本級人民政府報告履行出資人職責的情況，接受本級人民政府的監督和考核，對國有資產的保值增值負責。

Article 15 Organs that perform the duties of an investor shall be responsible to the government at the same level, report on their performance of the duties of an investor to the government at the same level, accept the supervision and evaluation of the government at the same level, and assume responsibility for maintaining and increasing the value of state-owned assets.

履行出資人職責的機構應當按照國家有關規定，定期向本級人民政府報告有關國有資產總量、結構、變動、收益等匯總分析的情況。

Organs that perform the duties of an investor shall, in accordance with the relevant regulations of the State, submit a summary analysis on the total amount and structure of state-owned assets, along with any changes therein, profits derived therefrom and other information, to the government at the same level on a regular basis.

第三章 國家出資企業

Chapter 3 State-invested Enterprises

第十六條   國家出資企業對其動產、不動產和其他財產依照法律、行政法規以及企業章程享有占有、使用、收益和處分的權利。

Article 16 State-invested enterprises have the right to possess, utilize, profit from or dispose of their movable property, immovable property or other property in accordance with laws, administrative regulations and their Articles of association.

國家出資企業依法享有的經營自主權和其他合法權益受法律保護。

Independent operating rights and other legitimate rights and interests that state-invested enterprises enjoy in accordance with the law are protected by law.

第十七條   國家出資企業從事經營活動，應當遵守法律、行政法規，加強經營管理，提高經濟效益，接受人民政府及其有關部門、機構依法實施的管理和監督，接受社會公眾的監督，承擔社會責任，對出資人負責。

Article 17 State-invested enterprises that engage in operating activities shall abide by laws and administrative regulations, strengthen their operating management practices, enhance their profitability, accept the administration and supervision of the government and relevant departments and organs, as well as the supervision of the general public, and shall assume responsibilities to both society and investors.

國家出資企業應當依法建立和完善法人治理結構，建立健全內部監督管理和風險控制制度。

State-invested enterprises shall establish and improve corporate governance structure in accordance with the law as well as internal supervision and risk control systems.

第十八條   國家出資企業應當依照法律、行政法規和國務院財政部門的規定，建立健全財務、會計制度，設置會計賬簿，進行會計核算，依照法律、行政法規以及企業章程的規定向出資人提供真實、完整的財務、會計信息。

Article 18 State-invested enterprises shall, in accordance with laws, administrative regulations and the requirements of the finance department under the State Council, establish and improve their financial and accounting systems, establish accounting books, and provide investors with authentic and complete financial and accounting information in accordance with laws, administrative regulations and their Articles of association.

國家出資企業應當依照法律、行政法規以及企業章程的規定，向出資人分配利潤。

State-invested enterprises shall distribute profits to investors in accordance with laws, administrative regulations and their Articles of association.

第十九條   國有獨資公司、國有資本控股公司和國有資本參股公司依照《中華人民共和國公司法》的規定設立監事會。國有獨資企業由履行出資人職責的機構按照國務院的規定委派監事組成監事會。

Article 19 Wholly state-owned companies, state-controlled companies and partly state-owned companies shall establish a board of supervisors in accordance with the PRC, Company Law. The board of supervisors of any wholly state-owned enterprises shall be formed by supervisors designated by organs that perform the duties of an investor in accordance with the relevant regulations of the State Council.

國家出資企業的監事會依照法律、行政法規以及企業章程的規定，對董事、高級管理人員執行職務的行為進行監督，對企業財務進行監督檢查。

The board of supervisors of all state-invested enterprises shall, in accordance with laws, administrative regulations and their articles of association, supervise the activities of directors and senior management in performing their duties, and supervise and inspect the financial status of the enterprise.

第二十條   國家出資企業依照法律規定，通過職工代表大會或者其他形式，實行民主管理。

Article 20 State-invested enterprises shall implement democratic management practices through an employee congress or in another manner in accordance with the law.

第二十一條   國家出資企業對其所出資企業依法享有資產收益、參與重大決策和選擇管理者等出資人權利。

Article 21 State-invested enterprises lawfully enjoy investors' rights to the enterprises to which they make capital contributions, including the right to profit from assets, the right to participate in the making of major decisions and the selection of managers.

國家出資企業對其所出資企業，應當依照法律、行政法規的規定，通過制定或者參與制定所出資企業的章程，建立權責明確、有效制衡的企業內部監督管理和風險控制制度，維護其出資人權益。

State-invested enterprises shall, in accordance with laws and administrative regulations and by way of formulating or participating in formulating their Articles of association, establish internal supervision and risk control systems with defined powers and duties, in addition to effective checking mechanisms, for enterprises to which they make capital contributions, and shall protect the rights and interests of investors.

第四章 國家出資企業管理者的選擇與考核

Chapter 4 Selection and Evaluation of Managers of State-invested Enterprises

第二十二條   履行出資人職責的機構依照法律、行政法規以及企業章程的規定，任免或者建議任免國家出資企業的下列人員：

Article 22 Organs that perform the duties of an investor shall, in accordance with laws, administrative regulations and enterprise articles of association, appoint, dismiss and propose the appointment or dismissal of the following state-invested enterprise personnel:

（一）任免國有獨資企業的經理、副經理、財務負責人和其他高級管理人員；

1. The appointment or dismissal of managers, assistant managers, personnel responsible for financial affairs and other senior managers of wholly state-owned enterprises;

（二）任免國有獨資公司的董事長、副董事長、董事、監事會主席和監事；

2. The appointment or dismissal of the chairman of the board of directors, vice chairman of the board of directors, directors, chairman of the board of supervisors or supervisors of wholly state-owned companies; and

（三）向國有資本控股公司、國有資本參股公司的股東會、股東大會提出董事、監事人選。

(III) proposing candidates for directors and supervisors of companies controlled or participated in by state-owned capital to the shareholders' meeting or general meeting of shareholders.

國家出資企業中應當由職工代表出任的董事、監事，依照有關法律、行政法規的規定由職工民主選舉產生。

Directors and supervisors in state-invested enterprises who are employee representatives shall be elected by employees through democratic procedures in accordance with relevant laws and administrative regulations.

第二十三條   履行出資人職責的機構任命或者建議任命的董事、監事、高級管理人員，應當具備下列條件：

Article 23 Directors, supervisors and senior managers which organs that perform the duties of an investor appoint or propose to appoint shall meet the following requirements:

（一）有良好的品行；

1. Having good conducts;

（二）有符合職位要求的專業知識和工作能力；

2. Having professional knowledge and ability commensurate with the requirements of the post;

（三）有能夠正常履行職責的身體條件；

(III) Being physically capable of performing normal duties;

（四）法律、行政法規規定的其他條件。

(IV) Other conditions prescribed by laws and administrative regulations.

董事、監事、高級管理人員在任職期間出現不符合前款規定情形或者出現《中華人民共和國公司法》規定的不得擔任公司董事、監事、高級管理人員情形的，履行出資人職責的機構應當依法予以免職或者提出免職建議。

Where any director, supervisor or senior manager no longer meets the requirements set out in the preceding paragraph or where any of the circumstances specified in the Company Law of the People's Republic of China occurs such that he or she may no longer serve as a director, supervisor or senior manager, the organ that performs the duties of an investor shall dismiss or propose that he or she be dismissed in accordance with the law.

第二十四條   履行出資人職責的機構對擬任命或者建議任命的董事、監事、高級管理人員的人選，應當按照規定的條件和程序進行考察。考察合格的，按照規定的權限和程序任命或者建議任命。

Article 24 Organs that perform the duties of an investor shall evaluate directors, supervisors and senior manager candidates to be appointed or proposed for appointment in accordance with prescribed conditions and procedures. Appointments or nominations shall be made in accordance with the prescribed limits of authority and procedures if satisfactory.

第二十五條   未經履行出資人職責的機構同意，國有獨資企業、國有獨資公司的董事、高級管理人員不得在其他企業兼職。未經股東會、股東大會同意，國有資本控股公司、國有資本參股公司的董事、高級管理人員不得在經營同類業務的其他企業兼職。

Article 25 No director or senior manager of a wholly state-owned enterprise or company shall provide any service concurrently in another enterprise without obtaining the consent of the organ that performs the duties of an investor. No director or senior manager of a company controlled or participated in by state-owned capital shall hold any post concurrently in another enterprise that carries on business of the same type without obtaining the consent of the shareholders' meeting or the general meeting of shareholders.

未經履行出資人職責的機構同意，國有獨資公司的董事長不得兼任經理。未經股東會、股東大會同意，國有資本控股公司的董事長不得兼任經理。

No chairman of the board of directors of a wholly state-owned company shall serve as the manager of that company concurrently without obtaining the consent of the organ that performs the duties of an investor. Without the consent of the Shareholders’ meeting and the shareholders’ general meeting, the chairman of the board of directors of a state-owned capital holding company shall not concurrently serve as the manager.

董事、高級管理人員不得兼任監事。

Directors and senior management personnel shall not be appointed as supervisor concurrently.

第二十六條   國家出資企業的董事、監事、高級管理人員，應當遵守法律、行政法規以及企業章程，對企業負有忠實義務和勤勉義務，不得利用職權收受賄賂或者取得其他非法收入和不當利益，不得侵占、挪用企業資產，不得超越職權或者違反程序決定企業重大事項，不得有其他侵害國有資產出資人權益的行為。

Article 26 Directors, supervisors and senior managers of state-invested enterprises shall abide by laws, administrative regulations and articles of association and perform their duties of fidelity and due diligence to such enterprises, and shall not accept any bribe or obtain any other illegal income or benefit, embezzle or misappropriate enterprise assets, make decisions on major matters without authorization or in violation of procedures, or infringe the rights and interests of other investors in state-owned assets.

第二十七條   國家建立國家出資企業管理者經營業績考核制度。履行出資人職責的機構應當對其任命的企業管理者進行年度和任期考核，並依據考核結果決定對企業管理者的獎懲。

Article 27 The State shall establish an evaluation system for the operating performance of managers of state-invested enterprises. Organs that perform the duties of an investor shall evaluate the performance of the managers they appoint both annually and over the whole term of their appointments, and shall determine their awards or penalties according to the evaluation results.

履行出資人職責的機構應當按照國家有關規定，確定其任命的國家出資企業管理者的薪酬標準。

Organs that perform the duties of an investor shall ascertain the remuneration levels for state-invested enterprise managers they appoint in accordance with the relevant regulations of the State.

第二十八條   國有獨資企業、國有獨資公司和國有資本控股公司的主要負責人，應當接受依法進行的任期經濟責任審計。

Article 28 The main personnel in charge of wholly state-owned enterprises, wholly state-owned companies and state-controlled companies shall be subject to economic responsibility audits in respect of their respective terms of office.

第二十九條   本法第二十二條第一款第一項、第二項規定的企業管理者，國務院和地方人民政府規定由本級人民政府任免的，依照其規定。履行出資人職責的機構依照本章規定對上述企業管理者進行考核、獎懲並確定其薪酬標準。

Article 29 Where the State Council and local government require that the managers specified in Items 1 and 2 of Paragraph 1 of Article 22 of this Law be appointed and dismissed by the government at the same level, such requirements shall apply. The authorities that perform the duties of the investor shall evaluate, reward or punish the aforesaid enterprise managers and determine their remuneration standards in accordance with this Chapter.

第五章 關系國有資產出資人權益的重大事項

Chapter 5 Major Matters Concerning the Rights and Interests of Investors in State-owned Assets

第一節 一般規定

Section 1 General Provisions

第三十條   國家出資企業合並、分立、改制、上市，增加或者減少注冊資本，發行債券，進行重大投資，為他人提供大額擔保，轉讓重大財產，進行大額捐贈，分配利潤，以及解散、申請破產等重大事項，應當遵守法律、行政法規以及企業章程的規定，不得損害出資人和債權人的權益。

Article 30 Major events involving state-invested enterprises, including but not limited to mergers, divisions, restructurings, listings, increases or reductions in registered capital, issuance of bonds, major investments, providing major guarantees to external parties, transfers of major assets, large-scale donations, profit distributions, dissolutions and applications for bankruptcy shall be carried out in accordance with laws, administrative regulations and articles of association, and shall not damage the rights and interests of investors or creditors.

第三十一條   國有獨資企業、國有獨資公司合並、分立，增加或者減少注冊資本，發行債券，分配利潤，以及解散、申請破產，由履行出資人職責的機構決定。

Article 31 Decisions on mergers, divisions, increases or reductions in registered capital, issuance of bonds, profit distributions, dissolutions, applications for bankruptcy and other major events involving wholly state-owned enterprises and wholly state-owned companies shall be made by organs that perform the duties of an investor.

第三十二條   國有獨資企業、國有獨資公司有本法第三十條所列事項的，除依照本法第三十一條和有關法律、行政法規以及企業章程的規定，由履行出資人職責的機構決定的以外，國有獨資企業由企業負責人集體討論決定，國有獨資公司由董事會決定。

Article 32 Where any of the events listed in Article 30 occurs in relation to a wholly state-owned enterprise or company, the relevant decisions shall be made by the persons in charge of the wholly state-owned enterprise, as applicable, or through collective discussions or by the board of directors of a wholly state-owned company, as applicable, unless decisions on the event in question are to be made by the organ that performs the duties of an investor in accordance with Article 31 and relevant laws, administrative regulations and the enterprise's articles of association.

第三十三條   國有資本控股公司、國有資本參股公司有本法第三十條所列事項的，依照法律、行政法規以及公司章程的規定，由公司股東會、股東大會或者董事會決定。由股東會、股東大會決定的，履行出資人職責的機構委派的股東代表應當依照本法第十三條的規定行使權利。

Article 33 Where any of the events listed in Article 30 occurs in relation to a company controlled or participated in by state-owned capital, the relevant decisions shall be made by the board of shareholders, general meeting or board of directors in accordance with laws, administrative regulations and the company's articles of association. Where such decisions are made by the shareholders' meeting or the general meeting of shareholders, shareholder representatives designated by the organ that performs the duties of an investor shall exercise their rights in accordance with Article 13 of this Law.

第三十四條   重要的國有獨資企業、國有獨資公司、國有資本控股公司的合並、分立、解散、申請破產以及法律、行政法規和本級人民政府規定應當由履行出資人職責的機構報經本級人民政府批準的重大事項，履行出資人職責的機構在作出決定或者向其委派參加國有資本控股公司股東會會議、股東大會會議的股東代表作出指示前，應當報請本級人民政府批準。

Article 34 Any merger, division, dissolution or application for bankruptcy involving a significant wholly state-owned enterprise, wholly state-owned company or company controlled by state-owned capital and any other major event required to be reported by organs that perform the duties of an investor to the government at the same level for approval in accordance with laws, administrative regulations and regulations of the government at the same level shall be reported by organs that perform the duties of an investor to the government at the same level for approval before any decision is made or any instructions are issued to their designated shareholder representatives to participate in the relevant shareholders meeting or general meeting of shareholders of the company controlled by state-owned capital in question.

本法所稱的重要的國有獨資企業、國有獨資公司和國有資本控股公司，按照國務院的規定確定。

The aforesaid important wholly state-owned enterprises, wholly state-owned companies and state-controlled companies shall be determined in accordance with the relevant regulations of the State Council.

第三十五條   國家出資企業發行債券、投資等事項，有關法律、行政法規規定應當報經人民政府或者人民政府有關部門、機構批準、核準或者備案的，依照其規定。

Article 35 When state-invested enterprises are involved in events such as issuing bonds or making investments and the relevant laws and administrative regulations require that such an event be submitted to the government or relevant government departments for approval, verification or filing, such rules shall apply.

第三十六條   國家出資企業投資應當符合國家產業政策，並按照國家規定進行可行性研究；與他人交易應當公平、有償，取得合理對價。

Article 36 State-invested enterprises shall make investments in compliance with the industrial policy of the State and carry out feasibility studies in accordance with the relevant regulations of the State. Transactions with other entities shall be executed on a fair, non-gratuitous and reasonable basis.

第三十七條   國家出資企業的合並、分立、改制、解散、申請破產等重大事項，應當聽取企業工會的意見，並通過職工代表大會或者其他形式聽取職工的意見和建議。

Article 37 For any major event such as a merger, division, restructuring, dissolution or application for bankruptcy, state-invested enterprises shall consult with the trade union of the enterprise and listen to the opinions and advice of employees through the employee representative congress or in another format.

第三十八條   國有獨資企業、國有獨資公司、國有資本控股公司對其所出資企業的重大事項參照本章規定履行出資人職責。具體辦法由國務院規定。

Article 38 Wholly state-owned enterprises, wholly state-owned companies and state-controlled companies shall perform investors' duties for enterprises to which they make capital contributions by reference to this Chapter. The specific measures shall be formulated by the State Council.

第二節 企業改制

Section 2 Enterprise Restructuring

第三十九條   本法所稱企業改制是指：

Article 39 The term "enterprise restructuring" as used in this Law refers to:

（一）國有獨資企業改為國有獨資公司；

1. The restructuring of a wholly state-owned enterprise into a wholly state-owned company;

（二）國有獨資企業、國有獨資公司改為國有資本控股公司或者非國有資本控股公司；

(II) The restructuring of a wholly state-owned enterprise or a wholly state-owned company into a state-controlled company or a non-state-controlled company; and

（三）國有資本控股公司改為非國有資本控股公司。

(III) The restructuring of a company controlled by state-owned capital into a company not controlled by state-owned capital.

第四十條   企業改制應當依照法定程序，由履行出資人職責的機構決定或者由公司股東會、股東大會決定。

Article 40 Enterprise restructuring shall be carried out in compliance with statutory procedures and decisions thereon shall be made by organs that perform the duties of an investor or by the shareholders' meeting or general meeting of shareholders.

重要的國有獨資企業、國有獨資公司、國有資本控股公司的改制，履行出資人職責的機構在作出決定或者向其委派參加國有資本控股公司股東會會議、股東大會會議的股東代表作出指示前，應當將改制方案報請本級人民政府批準。

In the restructuring of important wholly state-owned enterprises, wholly state-owned companies and state-controlled companies, organs that perform the duties of an investor shall submit the restructuring plan to the government at the same level for approval prior to making any decision or issuing instructions to their designated shareholder representatives to participate in the relevant shareholders' meeting or general meeting of shareholders of the state-controlled company.

第四十一條   企業改制應當制定改制方案，載明改制後的企業組織形式、企業資產和債權債務處理方案、股權變動方案、改制的操作程序、資產評估和財務審計等中介機構的選聘等事項。

Article 41 In enterprise restructuring, a restructuring plan shall be formulated which specifies the organizational form of the enterprise after restructuring, the proposal for dealing with the assets and claims and debts of the enterprise, the equity adjustment plan, the restructuring process, the selection and engagement of asset assessment and financial auditing agencies, and other particulars.

企業改制涉及重新安置企業職工的，還應當制定職工安置方案，並經職工代表大會或者職工大會審議通過。

Where an enterprise restructuring involves a reallocation of employees, an employee reallocation plan shall be formulated and shall be adopted by the employee congress or the general meeting of employees.

第四十二條   企業改制應當按照規定進行清產核資、財務審計、資產評估，準確界定和核實資產，客觀、公正地確定資產的價值。

Article 42 In an enterprise restructuring, capital settlements, financial audits and asset assessments shall be carried out in accordance with relevant regulations to accurately define and verify assets and ascertain the values of such assets in an objective and fair manner.

企業改制涉及以企業的實物、知識產權、土地使用權等非貨幣財產折算為國有資本出資或者股份的，應當按照規定對折價財產進行評估，以評估確認價格作為確定國有資本出資額或者股份數額的依據。不得將財產低價折股或者有其他損害出資人權益的行為。

Where materials, intellectual property rights, land use rights or other non-monetary assets need to be converted into state-owned capital contributions or shares in the course of an enterprise restructuring, the property to be converted shall be evaluated in accordance with relevant regulations and the amount of state-owned capital contributions or shares shall be determined on the basis of the evaluated price. Converting property into shares at an unreasonable price and other acts infringing upon the rights and interests of the contributor are prohibited.

第三節 與關聯方的交易

Section 3 Transactions with Affiliates

第四十三條   國家出資企業的關聯方不得利用與國家出資企業之間的交易，謀取不當利益，損害國家出資企業利益。

Article 43 No party associated with a state-invested enterprise shall acquire any illegal interest or damage the interests of the state-invested enterprise by taking advantage of transactions therewith.

本法所稱關聯方，是指本企業的董事、監事、高級管理人員及其近親屬，以及這些人員所有或者實際控制的企業。

The term "affiliated parties" as used in this Law refers to directors, supervisors and senior managers of enterprises, their close relatives, and enterprises owned or effectively controlled by such persons.

第四十四條   國有獨資企業、國有獨資公司、國有資本控股公司不得無償向關聯方提供資金、商品、服務或者其他資產，不得以不公平的價格與關聯方進行交易。

Article 44 No wholly state-owned enterprise, wholly state-owned company or company controlled by state-owned capital shall provide any associated party with funds, goods, services or other assets for free, nor conduct any transaction with an associated party at an unfair price.

第四十五條   未經履行出資人職責的機構同意，國有獨資企業、國有獨資公司不得有下列行為：

Article 45 No wholly state-owned enterprise or company may engage in any of the following activities without obtaining the consent of the organ that performs the duties of an investor:

（一）與關聯方訂立財產轉讓、借款的協議；

1. Enter into property transfer or lending agreements with related parties;

（二）為關聯方提供擔保；

(II) provision of guarantee to affiliated parties; and

（三）與關聯方共同出資設立企業，或者向董事、監事、高級管理人員或者其近親屬所有或者實際控制的企業投資。

(III) Invest in the establishment of an enterprise in conjunction with an associated party or make an investment in any enterprise owned or effectively controlled by any director, supervisor or senior manager of an associated party or any of their close relatives.

第四十六條   國有資本控股公司、國有資本參股公司與關聯方的交易，依照《中華人民共和國公司法》和有關行政法規以及公司章程的規定，由公司股東會、股東大會或者董事會決定。由公司股東會、股東大會決定的，履行出資人職責的機構委派的股東代表，應當依照本法第十三條的規定行使權利。

Article 46 Any transaction between a state-controlled company or partly state-owned company and its associated parties shall be decided by the shareholders' meeting, the general meeting of shareholders or the board of directors in accordance with the Company Law of the People's Republic of China and other administrative regulations, in addition to the company's articles of association. Where such decisions are made by the shareholders meeting or the general meeting of shareholders, shareholder representatives designated by the organ that performs the duties of an investor shall exercise their rights in accordance with Article 13 of this Law.

公司董事會對公司與關聯方的交易作出決議時，該交易涉及的董事不得行使表決權，也不得代理其他董事行使表決權。

When the board of directors of the Company makes a resolution on a transaction between the Company and its Affiliates, a director involved in such transaction shall not exercise his or her voting right or vote on behalf of any other director.

第四節 資產評估

Section 4 Assets Appraisal

第四十七條   國有獨資企業、國有獨資公司和國有資本控股公司合並、分立、改制，轉讓重大財產，以非貨幣財產對外投資，清算或者有法律、行政法規以及企業章程規定應當進行資產評估的其他情形的，應當按照規定對有關資產進行評估。

Article 47 Where a wholly state-owned enterprise, wholly state-owned company or state-controlled company is to be merged with another company, divided into two or more companies or restructured, or where a substantial proportion of its assets are to be transferred, an investment is to be made with any non-monetary property, or the company is to go into liquidation or falls under any other circumstances in which an asset assessment is required by laws, administrative regulations or its articles of association, an evaluation of the relevant assets shall be carried out in accordance with relevant provisions.

第四十八條   國有獨資企業、國有獨資公司和國有資本控股公司應當委托依法設立的符合條件的資產評估機構進行資產評估；涉及應當報經履行出資人職責的機構決定的事項的，應當將委托資產評估機構的情況向履行出資人職責的機構報告。

Article 48 Wholly state-owned enterprises, wholly state-owned companies and state-controlled companies shall instruct qualified asset assessment institutions established in accordance with the law to carry out asset assessments; where the situation involves any matter to be reported to the relevant organ that performs the duties of an investor for decision, the details of the asset assessment institution shall be reported to that organ.

第四十九條   國有獨資企業、國有獨資公司、國有資本控股公司及其董事、監事、高級管理人員應當向資產評估機構如實提供有關情況和資料，不得與資產評估機構串通評估作價。

Article 49 Wholly state-owned enterprises, wholly state-owned companies and state-controlled companies, in addition to their directors, supervisors and senior managers, shall provide asset assessment institutions they engage with genuine relevant particulars and information and shall not collude with any such asset assessment institution on the setting of asset values in the course of asset assessment activities.

第五十條   資產評估機構及其工作人員受托評估有關資產，應當遵守法律、行政法規以及評估執業準則，獨立、客觀、公正地對受托評估的資產進行評估。資產評估機構應當對其出具的評估報告負責。

Article 50 Any asset assessment institution or any staff member thereof that is authorised to make an evaluation of relevant assets shall, in compliance with laws, administrative regulations and evaluation practice standards, do so in an independent, objective and impartial manner. The asset appraisal institution shall be responsible for the appraisal report it issues.

第五節 國有資產轉讓

Section 5 Transfer of State-owned Assets

第五十一條   本法所稱國有資產轉讓，是指依法將國家對企業的出資所形成的權益轉移給其他單位或者個人的行為；按照國家規定無償劃轉國有資產的除外。

Article 51 The term "transfer of state-owned assets" as used herein means any course of action by which any interest in an enterprise owned by the State as a result of any capital contribution thereto made by the State is assigned to another entity or individual in accordance with the law, other than a gratuitous assignment of state-owned assets made in accordance with relevant provisions of the State.

第五十二條   國有資產轉讓應當有利於國有經濟布局和結構的戰略性調整，防止國有資產損失，不得損害交易各方的合法權益。

Article 52 Any transfer of state-owned assets shall be conducive to the strategic adjustment of the distribution and structure of the state-owned sector of the economy, shall prevent any loss of state-owned assets, and shall not harm the legitimate rights and interests of any party to the transfer.

第五十三條   國有資產轉讓由履行出資人職責的機構決定。履行出資人職責的機構決定轉讓全部國有資產的，或者轉讓部分國有資產致使國家對該企業不再具有控股地位的，應當報請本級人民政府批準。

Article 53 Any organ that performs the duties of an investor shall make a decision on whether or not to transfer state-owned assets. Where any such organ decides to transfer all of the state-owned assets in question, or decides to transfer part of the state-owned assets in question which will lead to the loss of controlling shareholder status on the part of the State for the enterprise in question, it shall report the matter to the people's government at the same level for approval.

第五十四條   國有資產轉讓應當遵循等價有償和公開、公平、公正的原則。

Article 54 The principles of equal-value exchange, openness, fairness and impartiality shall be observed in any transfer of state-owned assets.

除按照國家規定可以直接協議轉讓的以外，國有資產轉讓應當在依法設立的產權交易場所公開進行。轉讓方應當如實披露有關信息，征集受讓方；征集產生的受讓方為兩個以上的，轉讓應當采用公開競價的交易方式。

Other than those which may be transferred directly by agreement in accordance with relevant provisions of the state, state-owned assets shall be transferred publicly in an asset/equity transaction executed in accordance with the law. The transferor shall disclose all relevant information in good faith to solicit potential transferees; where two or more potential transferees emerge in the solicitation process, the transfer shall be conducted by way of an open auction.

轉讓上市交易的股份依照《中華人民共和國證券法》的規定進行。

Any transfer of shares listed on a stock exchange shall be carried out in accordance with the provisions of the PRC, Securities Law.

第五十五條   國有資產轉讓應當以依法評估的、經履行出資人職責的機構認可或者由履行出資人職責的機構報經本級人民政府核準的價格為依據，合理確定最低轉讓價格。

Article 55 For any transfer of state-owned assets, the minimum transfer price shall be determined in a reasonable manner on the basis of a price that has been evaluated in accordance with the law and recognized by an organ that performs the duties of an investor or approved by the people's government at the same level after being reported by such an organ.

第五十六條   法律、行政法規或者國務院國有資產監督管理機構規定可以向本企業的董事、監事、高級管理人員或者其近親屬，或者這些人員所有或者實際控制的企業轉讓的國有資產，在轉讓時，上述人員或者企業參與受讓的，應當與其他受讓參與者平等競買；轉讓方應當按照國家有關規定，如實披露有關信息；相關的董事、監事和高級管理人員不得參與轉讓方案的制定和組織實施的各項工作。

Article 56 Where, when any state-owned assets of an enterprise which, as provided for in laws, administrative regulations or by the State-owned Assets Supervision and Administration Commission of the State Council, may be transferred to any director, supervisor, or senior manager of the enterprise, any of their immediate family members or any enterprise owned or effectively controlled by any of such persons are to be transferred, and any such person or enterprise participates in such transfer, he or it shall compete with other participants on an equal footing; the transferor shall, in accordance with relevant provisions of the State, disclose all relevant information in an honest manner; and any such director, supervisor or senior manager shall not participate in the preparation and execution of any plan for such transfer.

第五十七條   國有資產向境外投資者轉讓的，應當遵守國家有關規定，不得危害國家安全和社會公共利益。

Article 57 Transfer of State-owned assets to an overseas investor shall comply with the relevant provisions of the State, and shall not harm national security and public interest.

第六章 國有資本經營預算

Chapter 6 Operating Budget for State-owned Capital

第五十八條   國家建立健全國有資本經營預算制度，對取得的國有資本收入及其支出實行預算管理。

Article 58 The State establishes a sound operating budget system for state-owned capital to carry out budget management activities for income derived from and expenses incurred in relation to state-owned capital.

第五十九條   國家取得的下列國有資本收入，以及下列收入的支出，應當編制國有資本經營預算：

Article 59 An operating budget for state-owned capital shall be prepared for the following types of income derived from and expenses incurred by the State in relation to state-owned capital:

（一）從國家出資企業分得的利潤；

1. Profits derived from state-invested enterprises;

（二）國有資產轉讓收入；

(II) Income from the transfer of state-owned assets;

（三）從國家出資企業取得的清算收入；

3. income from the liquidation of state-invested enterprises; and

（四）其他國有資本收入。

(IV) Other state-owned capital income.

第六十條   國有資本經營預算按年度單獨編制，納入本級人民政府預算，報本級人民代表大會批準。

Article 60 People's governments shall prepare separate operating budgets for state-owned capital on an annual basis, incorporate such budgets into the budget of the government, and submit it to the people 's congress at the same level for approval.

國有資本經營預算支出按照當年預算收入規模安排，不列赤字。

Expenses paid out of any operating budget for state-owned capital shall be arranged on the basis of the amount of budgetary income for the current year, and no arrangement shall be made for any deficit.

第六十一條   國務院和有關地方人民政府財政部門負責國有資本經營預算草案的編制工作，履行出資人職責的機構向財政部門提出由其履行出資人職責的國有資本經營預算建議草案。

Article 61 The State Council and the financial departments of relevant local people's governments shall be responsible for the preparation of draft operating budgets for state-owned capital. Any organ that performs the duties of an investor shall submit to the relevant financial department a proposed draft operating budget for state-owned capital in respect of which it performs the duties of an investor.

第六十二條   國有資本經營預算管理的具體辦法和實施步驟，由國務院規定，報全國人民代表大會常務委員會備案。

Article 62 Specific measures and implementation procedures for the administration of operating budgets for state-owned capital shall be formulated by the State Council and reported to the Standing Committee of the National People's Congress for the record.

第七章 國有資產監督

Chapter 7 Supervision of State-owned Assets

第六十三條   各級人民代表大會常務委員會通過聽取和審議本級人民政府履行出資人職責的情況和國有資產監督管理情況的專項工作報告，組織對本法實施情況的執法檢查等，依法行使監督職權。

Article 63 The standing committees of people's congresses at all levels shall pay attention to and review special work reports produced by the people's government at the same level on the performance of the duties of an investor and on the supervision and administration of state-owned assets, arrange for enforcement inspections and other activities with respect to the implementation of this Law, and perform their supervisory duties in accordance with the law.

第六十四條   國務院和地方人民政府應當對其授權履行出資人職責的機構履行職責的情況進行監督。

Article 64 The State Council and local people's governments shall supervise organs they authorize to perform the duties of an investor in the performance of their duties.

第六十五條   國務院和地方人民政府審計機關依照《中華人民共和國審計法》的規定，對國有資本經營預算的執行情況和屬於審計監督對象的國家出資企業進行審計監督。

Article 65 The State Council and audit authorities in local people's governments shall, in accordance with the provisions of the Audit Law of the People's Republic of China, carry out audit supervision on the implementation of operating budgets for state-owned capital and on state-invested enterprises subject to audit supervision.

第六十六條   國務院和地方人民政府應當依法向社會公布國有資產狀況和國有資產監督管理工作情況，接受社會公眾的監督。

Article 66 The State Council and local people's governments shall disclose to the general public information on the status of state-owned assets and information on the supervision and administration of state-owned assets in accordance with the law, and shall be subject to the supervision of the general public.

任何單位和個人有權對造成國有資產損失的行為進行檢舉和控告。

Any entity or individual has the right to report or complain about any act that may lead to any loss of state-owned assets.

第六十七條   履行出資人職責的機構根據需要，可以委托會計師事務所對國有獨資企業、國有獨資公司的年度財務會計報告進行審計，或者通過國有資本控股公司的股東會、股東大會決議，由國有資本控股公司聘請會計師事務所對公司的年度財務會計報告進行審計，維護出資人權益。

Article 67 Any organ that performs the duties of an investor may, where necessary, instruct an accounting firm to audit the annual financial reports of a wholly state-owned enterprise or company or, by way of a resolution adopted at a meeting of shareholders or general meeting of shareholders, cause any accounting firm engaged by a company controlled by state-owned capital to audit the annual financial reports of the company, so as to protect the rights and interests of the investor.

第八章 法律責任

Chapter 8 Legal Liabilities

第六十八條   履行出資人職責的機構有下列行為之一的，對其直接負責的主管人員和其他直接責任人員依法給予處分：

Article 68 Where any organ that performs the duties of an investor acts in any of the following ways, appropriate penalties shall be imposed on any principal person directly responsible therefor and any other person directly responsible therefor in the relevant organ:

（一）不按照法定的任職條件，任命或者建議任命國家出資企業管理者的；

1. Violating statutory requirements in appointing or proposing the appointment of any manager of a state-invested enterprise;

（二）侵占、截留、挪用國家出資企業的資金或者應當上繳的國有資本收入的；

2. Misappropriating, withholding or embezzling any funds of a state-invested enterprise or state-owned capital income to be turned over to the treasury;

（三）違反法定的權限、程序，決定國家出資企業重大事項，造成國有資產損失的；

(III) Violating statutory powers or procedures in making decisions on any significant matter relating to a state-invested enterprise, thereby leading to a loss of state-owned assets;

（四）有其他不依法履行出資人職責的行為，造成國有資產損失的。

(IV) Failing to perform the duties of an investor in accordance with the law in any other way that leads to a loss of state-owned assets.

第六十九條   履行出資人職責的機構的工作人員玩忽職守、濫用職權、徇私舞弊，尚不構成犯罪的，依法給予處分。

Article 69 Where any staff member of an organ that performs the duties of an investor neglects his or her duties, abuses his or her powers, or engages in any malpractice for personal gain, and the circumstances do not constitute a crime, he or she shall be given an appropriate penalty.

第七十條   履行出資人職責的機構委派的股東代表未按照委派機構的指示履行職責，造成國有資產損失的，依法承擔賠償責任；屬於國家工作人員的，並依法給予處分。

Article 70 Where any shareholder representative appointed by an organ that performs the duties of an investor fails to perform his or her duties in accordance with the instructions of that organ, thereby leading to a loss of state-owned assets, the relevant shareholder representative shall be held liable to pay compensation for the loss; where any such shareholder representative is a person employed by the State, he or she shall also be given an appropriate penalty.

第七十一條   國家出資企業的董事、監事、高級管理人員有下列行為之一，造成國有資產損失的，依法承擔賠償責任；屬於國家工作人員的，並依法給予處分：

Article 71 Where any director, supervisor or senior manager of a state-invested enterprise acts in any of the following ways, thereby leading to a loss of state-owned assets, the relevant director, supervisor or senior manager shall be held liable to pay compensation for the loss; where any such director, supervisor or senior manager is a person employed by the state, he or she shall also be given an appropriate penalty in accordance with the law:

（一）利用職權收受賄賂或者取得其他非法收入和不當利益的；

1. taking bribes or obtaining other illegal income or improper benefits by taking advantage of his position;

（二）侵占、挪用企業資產的；

(II) misappropriation or embezzlement of the enterprise's assets;

（三）在企業改制、財產轉讓等過程中，違反法律、行政法規和公平交易規則，將企業財產低價轉讓、低價折股的；

(III) violating laws, administrative regulations or fair trading rules to transfer or convert enterprise properties into shares at a low price in the process of enterprise restructuring or property transfer;

（四）違反本法規定與本企業進行交易的；

(IV) violating the provisions of this Law by trading with the enterprise;

（五）不如實向資產評估機構、會計師事務所提供有關情況和資料，或者與資產評估機構、會計師事務所串通出具虛假資產評估報告、審計報告的；

(V) They fail to truthfully provide the assets valuation institutions and accounting firms with the relevant information and materials or collude with the assets valuation institutions and accounting firms to issue false assets valuation reports or audit reports;

（六）違反法律、行政法規和企業章程規定的決策程序，決定企業重大事項的；

(VI) making decisions on major issues of the enterprise in violation of decision-making procedures specified in laws, administrative regulations and the articles of association of the enterprise; and

（七）有其他違反法律、行政法規和企業章程執行職務行為的。

(VII) performing duties in violation of laws, administrative regulations or the articles of association of the enterprise.

國家出資企業的董事、監事、高級管理人員因前款所列行為取得的收入，依法予以追繳或者歸國家出資企業所有。

Income obtained as a result of any action described in the preceding paragraph taken by any director, supervisor or senior manager of a state-invested enterprise shall be recovered or returned to the enterprise in accordance with the law.

履行出資人職責的機構任命或者建議任命的董事、監事、高級管理人員有本條第一款所列行為之一，造成國有資產重大損失的，由履行出資人職責的機構依法予以免職或者提出免職建議。

Where any director, supervisor or senior manager appointed or proposed for appointment by an organ that performs the duties of an investor acts in any of the ways described in the first paragraph of this Article, thereby leading to any substantial loss of state-owned assets, that organ shall, in accordance with the law, remove him or her from office or propose to do so.

第七十二條   在涉及關聯方交易、國有資產轉讓等交易活動中，當事人惡意串通，損害國有資產權益的，該交易行為無效。

Article 72 Where, in the course of any transaction involving a related party, the transfer of state-owned assets, or any other matter, the parties concerned collude maliciously with each other to harm the interests of the owner of the state-owned assets concerned, the relevant transaction shall be invalid.

第七十三條   國有獨資企業、國有獨資公司、國有資本控股公司的董事、監事、高級管理人員違反本法規定，造成國有資產重大損失，被免職的，自免職之日起五年內不得擔任國有獨資企業、國有獨資公司、國有資本控股公司的董事、監事、高級管理人員；造成國有資產特別重大損失，或者因貪汙、賄賂、侵占財產、挪用財產或者破壞社會主義市場經濟秩序被判處刑罰的，終身不得擔任國有獨資企業、國有獨資公司、國有資本控股公司的董事、監事、高級管理人員。

Article 73 Where any director, supervisor or senior manager of a wholly state-owned enterprise, wholly state-owned company or state-controlled company causes any substantial loss of state-owned assets due to any violation of the provisions hereof and is therefore removed from office, he or she shall not serve as a director, supervisor or senior manager in any wholly state-owned enterprise, wholly state-owned company or state-controlled company for a period of five years from the date he or she is removed from his or her post; if the loss of state-owned assets is extremely substantial, or he or she is given any criminal penalty for corruption, bribery, embezzlement of state-owned assets, misappropriation of state-owned assets, or disruption of the order of the socialist market economy, he or she shall be banned from serving as a director, supervisor or senior manager in any wholly state-owned enterprise, wholly state-owned company or state-controlled company for life.

第七十四條   接受委托對國家出資企業進行資產評估、財務審計的資產評估機構、會計師事務所違反法律、行政法規的規定和執業準則，出具虛假的資產評估報告或者審計報告的，依照有關法律、行政法規的規定追究法律責任。

Article 74 Where any asset assessment institution or accounting firm that is instructed to carry out an asset assessment or financial audit for a state-invested enterprise issues a false asset assessment report or audit report in violation of laws, administrative regulations or practice standards, it shall be pursued for legal liability in accordance with relevant laws or administrative regulations.

第七十五條   違反本法規定，構成犯罪的，依法追究刑事責任。

Article 75 Where a violation of the provisions of this Law constitutes a criminal offence, criminal liability shall be imposed according to the law.

第九章 附 則

Chapter 9 Supplementary Provisions

第七十六條   金融企業國有資產的管理與監督，法律、行政法規另有規定的，依照其規定。

Article 76 Where the laws and administrative regulations provide otherwise on administration and supervision of State-owned assets of financial enterprises, such provisions shall prevail.

第七十七條   本法自2009年5月1日起施行。

Article 77 This Law shall be effective 1 May 2009.