Measures of Shanghai Municipality for the management of property right exchange.

These Measures are formulated in order to regulate the acts of property right transaction, promote the healthy development of property right exchange, and promote the orderly circulation of state-owned property rights, collective property rights and other property rights. The Measures consist of 33 articles divided into 5 Chapters: General provisions (I); Property right exchanges (II); Transaction activities of a property right exchange (III); Dispute resolution and legal liabilities (IV); Supplementary provisions (V). The State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government (hereinafter referred to as the Municipal SASAC) shall be responsible for the work of administration and coordination of property right exchanges of this Municipality. The Shanghai Municipal Property Right Exchange Management Office (hereinafter referred to as the Municipal PREMO) shall be responsible for drawing out policies, plans, and management rules for property right exchanges, supervising over the business activities of property right exchanges and activities of intermediary institutions, investigating into and punishing illegal acts, and guiding the work of property right transaction intermediary guilds.