Measures for the transfer of state-owned assets of financial enterprises

On March 17 2009, the Ministry of Finance issued the Measures for the Administration of the Transfer of State-owned Assets of Financial Enterprises (金融企业国有资产转让管理办法) to regulate acts of transferring state-owned assets of financial enterprises. The main substance and background to the Measures is as follows.

Main substance of the Measures
First, the Measures make it clear that the Ministry of Finance is the regulatory body of the transfer of state-owned assets of financial enterprises and is responsible for formulating supervision and administration systems on the transfer of state-owned assets of financial enterprises, and supervising and administering the transfer of state-owned assets of financial enterprises under the central government and its subsidiaries. Meanwhile, the Measures provide that the term “financial enterprises” refers to all enterprises and financial controlling (group) companies which have obtained financial business licences.