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Effective From August 2023! Interpretation Of The Administrative State-owned Assets Management Measures Of Sichuan Province

Recently, the General Office of the Provincial Government issued the "Sichuan Provincial Administrative State-owned Assets Management Measures" (hereinafter referred to as the "Measures"). The "Measures" will be officially implemented on August 1, 2023. It is the first comprehensive policy system covering the entire province issued in the field of administrative state-owned assets management in our province.

The "Measures" build a full-chain closed-loop management system that connects the entire process of asset allocation, use, and disposal, and integrates asset management with budget management, government procurement, accounting, non-tax revenue and other business links. It further streamlines the management system and mechanism and clarifies the asset management responsibilities of relevant functional departments, departments, and affiliated units of people's governments at all levels, financial departments, and agency affairs management.

The "Measures" standardize asset allocation from the source, requiring that asset allocation standards should be formulated in accordance with the principles of thrift, performance and green environmental protection, and encourage departments at all levels to tap the potential of existing asset functions, repair old assets and reuse them to meet business needs, and avoid inefficient use of assets and idle waste. At the same time, the "Measures" clarify that the financial and other state-owned asset management functional departments at the same level have the right to adjust state-owned assets that are inefficiently operating or idle for a long time by departments (units), and encourage people's governments at or above the county level to establish and improve public property warehouse management mechanisms and actively promote asset revitalization.

The "Measures" regulate the use of assets and income from disposal according to the management level, nature of the unit and type of income. It also makes relevant provisions on asset accounting, inventory and inventory, asset evaluation and ownership registration, and clarifies the relevant content of asset reporting and supervision and management.

In addition, the "Measures" further highlight the characteristics of Sichuan, proactively institutionalize and systematize asset performance management work, clarify the entire process of performance management such as performance target setting, performance evaluation, performance monitoring, and performance evaluation for administrative state-owned assets, and regulate the development time, organizational procedures, and results application of state-owned assets management performance evaluation work, and effectively improve the efficiency of state-owned assets management.

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