為促進企業國有資產的合理流動、國有經濟布局和結構的戰略性調整，防止企業國有資產流失，防范國有產權轉讓法律風險，經集團證券法務部、集團規劃運營部、集團財務部、北京市明誠律師事務所、北京市尚公律師事務所等五個部門的相關人員（共8人）共同商討，針對《企業國有資產監督管理暫行條例》（國務院令第378號）、《企業國有產權轉讓管理暫行辦法》（國資委、財政部令第3號）、《關于企業國有產權轉讓有關事項的通知》（國資發產權[2006]306號）以及《關于中央企業國有產權協議轉讓有關事項的通知》（國資發產權[2010]11號）中相關條款進行解讀分析，并結合《集團所屬企業國有產權轉讓管理實施辦法（暫行）》，一致認為企業國有產權轉讓程序和法律責任如下：

  To promote the rational transfer of state-owned assets and the strategic adjustment of the layout and structure of the state-owned economy, and to prevent the loss of state-owned assets and the risk of transfer of the state-owned property, the related 8 staff from the Group Security and Legal department, the Group Planning & Operation department, the Group Finance department, Beijing Ming Cheng Law Firm and Beijing Shanggong Law Firm had a discussion and made interpretation & analysis in according with the related items in “state-owned assets supervision and administration provisional regulations (State Council Order No. 378), "the state-owned property rights transfer management provisional Measures” (SASAC, the Ministry of Finance Order No. 3) , "Notice of the transfer of state-owned property rights related matters"(Guozifa Property rights [2006] No. 306), “Central enterprise state-owned property rights transfer by agreement related matters” (Guozifa Property rights [2010] No. 11), and combined with the “Group owned enterprise state-owned property transfer management implementation measures(provisional)”. They agreed that the procedure for the transfer of the state-owned property and legal liability are as followed:

一、國有企業產權轉讓程序   State-owned property transfer procedure

（一）有權機構的審議和批準  Deliberation and approval of competent authority

1、內部審議

   根據轉讓方按照《集團所屬企業國有產權轉讓管理實施辦法（暫行）》提出的產權轉讓方案，按照轉讓方章程規定的內部決策程序進行審議，并形成書面決議。涉及職工合法權益的，應當聽取轉讓標的企業職工代表大會的意見，對職工安置等事項應當經職工代表大會討論通過。

1.the internal deliberation

  According to the “Group owned enterprise state-owned property transfer management implementation measures(provisional)”, the transferor propose the property transfer program, and to be  considered in accordance with internal decision-making process in the Articles of the transferor, and then form the written resolution.Once the legitimate rights and interests of workers are involved, the transferor should listen to the views of the target enterprise workers' congress. The placement of workers, and other matters should be discussed by the workers' congress.

2、外部批準

（1）批準權限

  集團決定其子企業的國有產權轉讓；國資委決定集團的國有產權轉讓；集團重要子企業的重大國有產權轉讓事項，應當報國資委會批準。

（2）審查文件

  1）轉讓企業國有產權的有關決議文件；2）企業國有產權轉讓方案；3）轉讓方和轉讓標的企業國有資產產權登記證；4）律師事務所出具的法律意見書；5）受讓方應當具備的基本條件；6）批準機構要求的其他文件。

2.the external approval

（1）the approval authority

  The Group determines its subsidiary enterprises state-owned property transfer; SAC decides the Group's state-owned property transfer; major state-owned property rights transfer matters of important subsidiary enterprises of the Group should be reported to the SASAC for approval.   

（2）file for review

  1) relevant resolutions file of the transfer of state-owned property rights;2) state-owned property rights transfer program;3) the state-owned property rights registration certificate;4) legal opinions issued by the law firm;5) the basic conditions request of transferee;6) other documents required by the approved agencies.
（二）財務審計與評估  the financial audit and evaluation

1、全面審計（含清產核資）

  企業國有產權轉讓事項經批準或者決定后，轉讓方應當組織轉讓標的企業按照有關規定開展清產核資，并委托會計師事務所實施全面審計。

1.comprehensive audit (including capital verification)

  After the transfer of state-owned property matters approved or decided, the transferor should organize the target enterprise to carry out capital verification in accordance with the relevant regulations, and the implementation of comprehensive audit by accounting firm is commissioned.

2、資產評估  

   集團內部實施資產重組，轉讓方和受讓方均為集團及其直接或間接全資擁有的境內子企業的，可以不進行資產評估，轉讓價格可以審計報告確認的凈資產值為基準確定；

   集團和其他央企之間進行產權轉讓，應符合各自主業范圍和發展戰略規劃，有利于做強主業和優化資源配置及符合306號文件相關規定，由中央企業報國資委批準后實施。

    其他情形，企業應按程序選擇國資委認可的資產評估機構，評估報告經核準或者備案后，作為確定企業國有產權轉讓價格的參考依據。

2.asset evaluation

  The Group's internal reorganization of assets, and the transferor and transferee are Group and its direct or indirect wholly owned subsidiary enterprises, the asset evaluation could be ignored. The transfer price could be determined by the net asset value basis confirmed by audit report

  The transfer of property rights between the Group and other central enterprises, should be consistent with the business range and the development strategic planning, and should be conducive to strengthen core business and optimize the allocation of resources and in line with the relevant provisions of the 306 document. The implementation should be done after approval of SASAC.

  Under other circumstances, enterprises should choose asset evaluation agencies recognized by  SASAC. After approval or record, the assessment report could be a reference to determine the transfer price.

（三）產權轉讓 the transfer of property rights

1、轉讓公告  

    轉讓方應當將產權轉讓公告委托產權交易機構進行公告；

1.transfer notice

  Transferor should announce the property transfer matters by property trading institutions.

2、征集受讓方

  受讓方一般應具有良好的財務狀況和支付能力；良好的商業信用；受讓方為自然人的，應具有完全民事行為能力；除此之外，轉讓方還可對受讓方的資質、商業信譽、經營情況、財務狀況、管理能力、資產規模等提出必要的條件。

2.collecting the transferee

  The transferee generally should have good financial condition and payable ability; good commercial reputation; if the transferee is a natural person, he or she shall have full civil capacity; additionally, the transferor can also propose the necessary conditions such as the qualification, business reputation, operation condition, financial condition, management ability, asset scale.

3、確定轉讓方式 

   原則上應采用“招拍掛”方式，但經公開征集只產生一個受讓方或者按照有關規定經國資委批準，可以采取“協議轉讓”方式。

3.determine the transfer method

  It should use the "Tender, Action, Listing" way principally. But if there is only one transferee or with approval of SASAC in accordance with the relevant provisions, the agreement transfer can be used.

4、確定轉讓價格

（1）公開掛牌：首次掛牌價≥資產評估價；若無受讓方，重新掛牌價≥資產評估價的90％；如果重新掛牌價<資產評估價的90％，須經批準機構書面同意。

（2）協議轉讓：轉讓價格應按本次掛牌價格確定。

公開掛牌確定的價格，不得打折、優惠。企業國有產權轉讓中涉及的職工安置、社會保險等有關費用，不得在評估作價之前從擬轉讓的國有凈資產中先行扣除，也不得從轉讓價款中進行抵扣。

4.determine the transfer price

  （1）publicly listing: the first listing price ≥asset assessed price; absence of the transferee, re-listing price ≥ 90% of the asset assessed price; if re-listing price <90% of the asset assessed price, the written consent of the approval agencies is needed.

  （2）the agreement transfer: the transfer price should be determined as the listing price.

The publicly listing prices should not be discounted. The placement of workers, social insurance and other related costs involved in the transfer of state-owned property, should not be deducted from the state-owned net assets before the value assessment, and not be deducted from the transfer price too.

5、確定轉讓合同文本

    合同文本均應采用產權交易所相應標準文本。

5.determine contract text

  The corresponding standard contract text of the property exchange should be used

6、確定轉讓價款支付方式

    轉讓價款原則上應當一次付清；如采取分期付款，受讓方首期付款不得低于總價款的30%，其余款項應當提供合法的擔保，并應當按同期銀行貸款利率支付延期付款期間利息，付款期限不得超過1年。

6.determine transfer price payment method

  The transfer price should be a lump sum principally; if taking installments, the transferee should pay no less than 30% of the total purchase price for the down payment, the remaining balance should be provided a legal guarantee, and should pay deferred payment period interest by bank lending rate for the same time. The payment period should not exceed one year.

（四）產權登記及備案 property rights registration and filing

    轉讓成交后，轉讓雙方憑產權交易憑證及時辦理產權登記手續，并向國資委報備。

  After the closing of the transfer, the two sides of the transfer should deal with the registration of property rights with the property rights trading certificate in time, and report to SASAC.

二、法律責任 Legal liability

  根據《企業國有產權轉讓管理暫行辦法》第32條、《最高人民法院、最高人民檢察院關于辦理瀆職刑事案件適用法律若干問題的解釋（一）》（自2013年1月9日起施行），在企業國有產權轉讓過程中造成國有資產流失承擔瀆職刑事責任的情節如下：

1、造成經濟損失30萬元以上的，應認定為“重大損失”；

2、造成經濟損失150萬元以上的，應認定為“情節特別嚴重”；

3、造成重大損失的，處三年以下有期徒刑或者拘役；情節特別嚴重的，處三年以上七年以下有期徒刑；

4、徇私舞弊，造成重大損失的，處五年以下有期徒刑或者拘役；情節特別嚴重的，處五年以上十年以下有期徒刑。

5、以“集體研究”形式造成國有資產流失構成瀆職罪的，應當依照刑法分則第九章的規定追究負有責任的人員的刑事責任。對于具體執行人員，應當在綜合認定其行為性質、是否提出反對意見、危害結果大小等情節的基礎上決定是否追究刑事責任和應當判處的刑罰。

  Under Article 32 of "the state-owned property rights transfer management provisional Measures” and "the Supreme People's Court, Supreme People's Procuratorate Interpretation of applicable laws Several Issues on handling dereliction criminal cases (1)” (effective since January 9, 2013), malfeasance criminal responsibility under the episode of resulting state assets loss in the process of the transfer of state-owned property is as followed:

  1.Resulting economic loss above 300 thousand yuan, should be recognized as "significant loss";

  2.Economic loss above 1.5 million yuan, should be identified as "particularly serious"

  3.If resulting significant loss, assume three years imprisonment or criminal detention; if particularly serious, assume 3-7 year imprisonment;

  4.If favoritism and causing major loss, assume imprisonment or criminal detention under five years; if particularly serious, assume 5-10 year imprisonment.

  5.If resulting the loss of state assets the form of "collective study" constitute the crime of dereliction of duty, the related people should be held criminally responsible in accordance with the provisions of Criminal Law Chapter 9. For specific executives, whether held criminally responsible and which  penalties to assume should under the comprehensively identification of the nature of their behavior, whether raised objections, hazards result scale.