Shanghai Municipality, Guidelines for the Administration of the Appraisal of Private Equity and Venture Capital Fund Units Held by State-Owned Enterprises (Trial Implementation)

Applicability: Where a state-owned or state-owned holding enterprise or an enterprise actually controlled by the state in Shanghai (an Enterprise) invests in or transfers partnership type, company type or contractual type private equity or venture capital fund units filed with the Asset Management Association of China (Fund Units) or if a fund in which an Enterprise holds units is the subject of an economic act, such as a non-proportional capital increase or reduction, and an asset appraisal is involved, these Guidelines shall apply (Article 2).