China News Agency, Beijing, November 23 (Reporter Zhao Jianhua) The Ministry of Finance of China issued an announcement on the 23rd to punish some asset appraisal agencies and asset appraisers who have been engaged in the securities service business.
From June to August 2021, the Supervision and Evaluation Bureau of the Ministry of Finance and the China Assets Appraisal Association (hereinafter referred to as the China Appraisal Association) organized the first joint inspection of the asset appraisal industry.
During the period, 15 securities evaluation agencies were inspected, and 262 asset evaluation reports were randomly checked.
According to the "Announcement on the Joint Inspection of Asset Evaluation Institutions in 2021" released on the same day, in general, the securities evaluation institutions inspected this time can basically follow the evaluation guidelines and professional ethics to conduct business, but the internal governance and professional competency of the institutions are still limited. There are still some problems in terms of quality control system and project practice quality.
After the on-site inspection, the Supervision and Evaluation Bureau of the Ministry of Finance and the China Appraisal Association organized professional technical demonstrations on some issues suspected to constitute major omissions in the asset appraisal report, and imposed administrative penalties and self-disciplinary punishments on the issues discovered during the inspection.
Those who were punished this time include Shandong Jiufeng Land Real Estate Assets Appraisal Consulting Co., Ltd. and Sichuan Dayou Real Estate Land Assets Appraisal Co., Ltd.
Among them, Shandong Jiufeng Land Real Estate Assets Appraisal Consulting Co., Ltd. was warned and ordered to suspend business for three months, and two signatory asset appraisers were warned and ordered to suspend their practice for six months.
Two signatory asset appraisers of Sichuan Dayou Real Estate Land Asset Appraisal Co., Ltd. were warned.
For the problems found in other inspections, the industry will be punished by self-discipline.
Among them, Tianjin Guangyu Assets Appraisal Co., Ltd., Shanghai Urban and Rural Assets Appraisal Co., Ltd., and Beijing DTZ Real Estate Land Assets Appraisal Co., Ltd. were seriously warned; Zhonghengyu Assets Appraisal Co., Ltd. was warned.
The asset appraisers involved were also severely warned and warned respectively.
The Ministry of Finance stated that in the next step, it will increase the law enforcement inspection of asset evaluation agencies, severely punish major violations of evaluations, issue false reports and other cases, maintain the "strict supervision, zero tolerance" high-pressure situation, and continue to standardize the order of the industry , improve the quality of practice in the industry, and promote the healthy development of the asset appraisal industry.
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