国检鉴联[1994]78号
（Promulgated by the State Administration for the Inspection of Import and Export Commodities and the Ministry of Finance on 18 March 1994 and effective from 1 May 1994.）
颁布日期：19940318 　实施日期：19940501 　颁布单位：国家进出口商品检验局、 财政部

PART ONE　GENERAL PROVISIONS

Article 1　These Procedures are formulated in accordance with Article 33 of the People's Republic of China， Inspection of Import and Export Commodities Law Implementing Regulations （hereafter， the “Commodity Inspection Law Implementing Regulations”）， Article 29 of the People's Republic of China， Foreign Investment Enterprises Law Implementing Rules and the provisions of relevant laws and administrative regulations of the State， in order to improve the appraisal of foreign investment assets， meet China's need to attract foreign investment and protect the lawful rights and interests of each investing party.

Article 2　These Procedures apply to the appraisal of assets invested by investors outside China outside China， or purchased outside China by investors outside China under commission by foreign investment enterprises， for foreign investment enterprises established within China by companies， enterprises and other economic organizations or individuals （hereafter， “foreign investors”） outside China （including Hongkong， Macao and Taiwan）， and for all forms of foreign compensation trade.

Article 3　The State Administration for the Inspection of Import and Export Commodities of the People's Republic of China （hereafter， the “State Administration for Commodity Inspection”） shall be responsible for the administration of the appraisal of foreign investment assets throughout the country. The local Administrations for the Inspection of Import and Export Commodities （hereafter， “local administrative bureaux of commodity inspection”） established by the State Administration for Commodity Inspection shall be responsible for administering and carrying out the appraisal of foreign investment assets at the places where such administrative bureaux are located. Asset appraisal offices and asset assessment authorities in the form of Sino-foreign co-operative or joint ventures， established by local administrative bureaux of commodity inspection in accordance with Article 8 of these Procedures （hereafter， “other appraisal authorities”）， shall handle the appraisal of foreign investment assets.

Article 4　The Ministry of Finance of the People's Republic of China shall be responsible for the administration of the verification of foreign investment assets and related financial work throughout the country. Local financial departments shall be responsible for the administration of the verification of foreign investment assets and related financial work within their own regions. Accounting firms established with the approval of the Ministry of Finance and of local financial departments shall be responsible for carrying out the verification of foreign investment assets.

Article 5　The appraisal of foreign investment assets must adhere to the principles of being truthful， fair， scientific and feasible， and conform with methods and standards being practised internationally and prescribed by the State.

Article 6　The appraisal of foreign investment assets shall include the appraisal of the type， quality， quantity， value and loss of foreign investment assets. The appraisal of type， quality and quantity shall involve the appraisal of name， model， quality， quantity， specifications， trademark， degree of wear， date of production， country of manufacture， manufacturer， etc. of foreign investment assets. The appraisal of value shall involve the appraisal of the current value of foreign investment assets. The appraisal of loss shall involve the appraisal of the causes and degree of the loss incurred in foreign investment assets as a result of natural calamities or accidents， as well as the cost of disposing of the loss and the salvage value.

Article 7　Local administrative bureaux of commodity inspection and other appraisal authorities shall issue Certificates of Value Appraisal in accordance with regulations when appraising foreign investment assets. Such Certificates shall serve as a valid basis for certifying the value of assets contributed by each investor.

Local accounting firms must handle the verification of foreign investment assets on the basis of the Certificates of Value Appraisal issued by the Administration for Commodity Inspection and other appraisal authorities.

PART TWO　ORGANIZING OF ADMINISTRATION

Article 8　To engage in appraisal as provided for in these Procedures， asset appraisal offices established by local administrative bureaux of commodity inspection， and asset assessment authorities in the form of Sino-foreign co-operative or equity joint ventures of such bureaux， must be examined and approved by the State Administration for Commodity Inspection and the Ministry of Finance， and issue a notice to local accounting firms and other relevant departments.

Article 9　Personnel to engage in the appraisal of foreign investment assets may do so only after having undergone professional technical training organized by the State Administration of Commodity Inspection and having obtained a Qualification Certificate awarded by the State Administration for Commodity Inspection through examination.

PART THREE　APPRAISAL METHODS AND PROCEDURES

Article 10　The appraisal of foreign investment assets must be conducted in accordance with the appraisal methods and relevant provisions set forth in these Procedures and on the basis of the current state， degree of wear， indications of performance， technical parameters， replacement cost， profitability， etc. of the assets.

Article 11　The methods of appraising foreign investment assets shall include on-site inspection， technical test and value appraisal， of which value appraisal shall include：

1. the market-based method；

2. the cost-based method；

3. the profit-based method； and

4. other methods prescribed by the Ministry of Finance or the State Administration for Commodity Inspection.

Article 12　Where the market-based method is used to appraise the value of foreign investment assets， reference shall be made to the current market price of identical or similar assets.

Article 13　Where the cost-based method is used to appraise the value of foreign investment assets， the re-estimated value shall be determined on the basis of replacement cost of the assets being appraised as brand-new assets less the cumulative depreciation calculated on the basis of the replacement cost with respect to factors such as changes in productivity， percentage of newness， etc. Alternatively， the re-estimated value of the assets may be obtained by determining their percentage of newness on the basis of the current state and useful life of the assets being appraised with regard to factors such as changes in function， etc.

Article 14　Where the profit-based method is used to appraise the value of foreign investment assets， the current value of the assets being appraised shall be calculated on the basis of the reasonably expected profitability of such assets at a suitable discount rate.

Article 15　The appraisal of foreign investment assets shall be conducted in accordance with the following procedures：

1. the applicant files an application for appraisal；

2. the appraisal authorities accept the application following preliminary examination of information；

3. appraisal personnel draft an appraisal plan；

4. receipts， certificates and information provided by the applicant are examined and verified， and market surveys are conducted inside and outside China；

5. an on-site inspection is conducted；

6. a suitable appraisal method is selected for the appraisal； and

7. a Certificate of Appraisal is issued.

Article 16　Applicants applying for the appraisal of foreign investment assets shall fill out an application form， clearly stating the purpose and objects of and requirements for appraisal， and shall also provide information such as a list of property items， Customs declaration list， contract， receipts， insurance policy， a list of maintenance expenses， technical documentation concerning equipment， etc.

Article 17　When local administrative bureaux of commodity inspection and other appraisal authorities accept an application for the appraisal of foreign investment assets， they shall examine whether the application forms filled out by the applicants and relevant information are complete. They may ask for temporary sealing of assets of which the current state needs to be maintained.

Article 18　Appraisal personnel shall conduct appraisal in accordance with appraisal procedures. At the time of on-site inspection and appraisal， they must check appraised items one by one. When necessary， they may obtain relevant additional explanations from the persons connected with the assets. After an appraisal is completed， they shall issue a Certificate of Appraisal in a timely manner.

Article 19　If an applicant objects to the findings of an appraisal， he may apply for a reappraisal to the Administration for Commodity Inspection that made the findings or to the Administration for Commodity Inspection one level higher and up to the State Administration for Commodity Inspection. Specific measures shall be handled in accordance with the provisions of the Re-inspection of Import and Export Commodities Procedures.

PART FOUR　LIABILITY

Article 20　Where receipts and certificates issued by administrative bureaux of commodity inspection or other appraisal authorities are forged or altered， penalties shall be imposed in accordance with the relevant provisions of the Commodity Inspection Law Implementing Regulations.

Article 21　Appraisal personnel that commit dereliction of duty or graft， thereby causing the findings of an appraisal to become false， or that practice fraud， shall be penalized in accordance with the relevant provisions of the Commodity Inspection Law Implementing Regulations.

Article 22　Appraisal personnel may not provide relevant details about any situation or information to a third party （except as otherwise provided by law）。 Appraisal personnel that violate this Article， thereby causing adverse consequences shall be penalized according to the seriousness of the circumstances involved.

Article 23　Local Accounting firms and registered accountants that violate the second paragraph of Article 7 of these Procedures shall be penalized by the financial authority in charge， in accordance with the relevant provisions of the People's Republic of China， Registered Accountants Law.

Article 24　Where an interested party is dissatisfied with a penalty decision made by an administrative bureau of commodity inspection or a financial department， he may apply， within 30 days of receiving the penalty notice， for a review to the authority that made the penalty decision or to its superior authority. Where an interested party is dissatisfied with a review decision， he may file a suit with a People's Court within 30 days of receiving such review decision.

Where an interested party fails both to apply for a review or file a suit and to carry out the penalty decision within the prescribed period， the administrative bureau of commodity inspection or the financial department that made the penalty decision may apply to a People's Court for enforcement.

PART FIVE　SUPPLEMENTARY

Article 25　When appraisal personnel carry out appraisal， applicants shall provide the necessary working conditions， extra manpower and equipment， etc.

Article 26　Local administrative bureaux of commodity inspection and other appraisal authorities shall charge applicants appraisal fees for handling the appraisal of foreign investment assets pursuant to these Procedures， in accordance with relevant State regulations.

Article 27　The State Administration of Commodity Inspection and the Ministry of Finance shall be responsible for the interpretation of these Procedures. In case of inconsistency between these Procedures and the provisions of different regions or departments concerning the appraisal of foreign investment assets， these Procedures shall prevail.

Article 28　These Procedures shall be effective form 1 May 1994.