Beijing Municipality, Administration of Title Transactions Provisions

Promulgated: December 7 2001
Effective: January 1 2002
Applicability: For the purposes of the Provisions, a "title transaction" means a transfer for consideration of the ownership of an enterprise property and the related property rights and interests (Article 2).

Main contents: According to the Provisions, shares and property rights of non-listed companies and non-company enterprises can be traded (Article 6). Where a transaction involves title to a non-company State-owned enterprise, the opinion of the workers of the selling enterprise shall be heard through their representatives and the trade union; and where a transaction involves title to a collectively-owned enterprise, the transaction shall be approved by the workers' assembly (Article 7). Trading in titles to State-owned property shall be conducted in the Beijing Title Transaction Centre and trading in titles to other types of property may be conducted elsewhere (Article 5). The Beijing Title Transaction Centre is a non-profit entity operating on a membership system, where titles to property may be listed for trading (Articles 9, 10 and 16). Trading in titles to property may take the form of auctions, bids, transfers by agreement or other forms permitted by laws and regulations (Article 22).