Provision for transfer of the property right

1. Forms of Transfer of the Property Right

The state-owned title transfer may be conducted in such forms as bidding, auction, agreement and in other forms approved by the state law and administrative regulations.
 
2. Procedures of Transfer of the Property Right

(1) Check and approval: the state-owned title transfer should be reported to the government for approval in accordance with the state regulation. The target for transfer needs financial auditing, asset check and evaluation.

(2) Application for registration and entrustment: the seller lets the transfer agency issue notice.

(3) Signing of Contract, dealing with payment and title transfer registration.
 
3. Scope and Parties of Transfer of the Property Right

(1) Title transfer may cover part or whole of the property rights and the management rights of an enterprise.

(2) The parties concerned may be foreign, state-owned and collective enterprises, shareholding companies, private businesses and other economic entities, regardless of their system of ownership, line of business and location. The state law and administration regulation should be taken into consideration.
 
4. Disposal of the Income from the Title Transfer and Nature of the Transferred Title:

(1) The income from the transfer of the property rights shall belong to the seller of the property rights. The net income from transferring the state-owned title should be handled in accordance with relevant regulations.

(2) The nature of the property rights transferred shall be changed according to the nature of the buyer's property rights.