“The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects”Overseas Five types of Capital Asset Management Plan Institutional Norms for Overseas Government Capital, Overseas Financial Capital, Overseas Private Capital, Overseas Industrial Capital, and Overseas Securities Capital (Trial version for 2024)（Hereinafter referred to as “Overseas Five types of Capital Asset Management Plan Institutional Norms”）, and the Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects Overseas Government capital, overseas financial capital, overseas private capital, overseas industrial capital, overseas securities capital and other overseas capital asset management platform company - China Asset Management Shares Limited prepared on January 1, 2024.
“Overseas Five types of Capital Asset Management Plan Institutional Norms”will be implemented on a trial basis after reporting to higher-level authorities for review and obtaining approval from the central government.
“Overseas Five types of Capital Asset Management Plan Institutional Norms”the full text will be divided into ten chapters, totaling fifty articles, and the content is as follows.
Chapter 1 Background Introduction
Article 1: Starting from 2013 and lasting for ten years until 2023, The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects Research Group (hereinafter referred to as the "Research Group"), Conduct on-site research and demonstration in 1253 counties, districts, and cities across 31 provinces and cities across the country, including 98 central enterprises, 180 local state-owned enterprises, 159 financial institutions, and 1500 listed companies, in view of the many contradictions and problems in China's national economic and social development, adhere to the problem-oriented, on the basis of “The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035”“The Outline of the 14th Five-Year Plan for National Economic and Social Development of of All Provinces and Cities and the Long-Range Objectives through the Year 2035”“The Outline of the 14th Five-Year Plan for National Economic and Social Development of of All Ministries and Commissions of the State Council and the Long-Range Objectives through the Year 2035”，Centralized organization and compilation “The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects”
Article 2: China Asset Management Shares Limited was legally registered in the Hong Kong Special Administrative Region of the People's Republic of China, and it is asset management platforms of five overseas capital for the Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects, including Overseas Government Capital, Overseas Financial Capital, Overseas Private Capital, Overseas Industrial Capital, and Overseas Securities Capital. The overseas five types of capital include Hong Kong Special Administrative Region, Macao Special Administrative Region, Taiwan region of the People's Republic of China, sovereign countries that have officially established diplomatic relations with the People's Republic of China, and overseas government capital, overseas financial capital, overseas private capital, overseas industrial capital, overseas securities capital of various international cooperation organizations.
Article3: China Asset Management Shares Limited strictly adheres to the United Nations Charter, rules of international financial organizations such as the World Bank, International Monetary Fund, Monetary and Economic Trade Balance Organization, Asian Development Bank, Bank for International Settlements, and Basel Committee on Banking Supervision; Strictly comply with the regulations of the European Commission and the European Council, and strictly comply with the regulations of the European Central Bank and the Federal Reserve; Strictly abide by the financial laws and regulations of the central government of sovereign countries that have officially established diplomatic relations with the People's Republic of China; Strictly abide by the financial laws and regulations of the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region of the People's Republic of China.
Article 4: China Asset Management Shares Limited and the sovereign state that has officially established diplomatic relations with the People's Republic of China, as well as overseas five types of capital, overseas government capital, overseas financial capital, overseas private capital, overseas industrial capital and overseas securities capital of the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region of the People's Republic of China, jointly initiated the establishment of“The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects Overseas five types of Capital Asset Management Plan" (hereinafter referred to as the "Overseas Five Types of Capital Asset Management Plan"). The total scale of the "Overseas Five Types of Capital Asset Management Plan" is the first batch of US dollars or euros equivalent to RMB 150 trillion (or domestic currencies issued by sovereign central banks that have officially established diplomatic relations with the People's Republic of China, or Hong Kong dollars circulating in the Hong Kong Special Administrative Region of the People's Republic of China, Macau dollars circulating in the Macao Special Administrative Region of the People's Republic of China, and New Taiwan dollars circulating in the Taiwan region of the People's Republic of China).
Article 5: The project funds raised through various asset management plans established by China Asset Management Shares Limited shall be invested into domestic industrial projects in the People's Republic of China and overseas “One Belt One Road” construction projects, should be strictly followed with the financial laws and regulations of the People's Republic of China. Strictly abide by the regulations of the People's Bank of China, the Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council, the National Audit Office, the State Taxation Administration, the National Financial Regulatory Administration, the State Administration of Foreign Exchange, and other national finance, taxation, and financial supervision departments. Overseas capital participating in national strategic projects through various means such as capital and trade shall strictly abide by and implement the laws and regulations of the People's Republic of China on finance, taxation and finance, as well as various regulatory policies of the national financial regulatory authorities in aspects such as capital investment, asset management, capital exit, tax payment, shareholder dividends, management fees, team rewards, and foreign capital departure.
Chapter 2 Basic Concepts
Article 6: Overseas Five types of Capital Contributors (Overseas Asset Holders): The overseas capital contributors (Overseas Asset Holders) referred to in this "Overseas Five types of Capital Asset Management Plan Institutional Norms" refer to sovereign countries that have formally established diplomatic relations with the People's Republic of China, as well as overseas five types of capital contributors (overseas asset holders), such as overseas government capital contributors, overseas financial capital contributors, overseas private capital contributors, overseas industrial capital contributors, and overseas securities capital contributors from the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan regions of the People's Republic of China.
Article 7: Overseas five types of capital asset managers: The overseas five types of capital asset managers referred to in this "Overseas Five types of Capital Asset Management Plan Institutional Norms"refer to China Asset Management Shares Limited. China Asset Management Shares Limited, as a manager of overseas five types of capital assets, including overseas government capital, overseas financial capital, overseas private capital, overseas industrial capital, and overseas securities capital, is legally applying to hold an financial license of asset management issued by the Hong Kong Special Administrative Region government of the People's Republic of China, Or establish strategic cooperative relationships with licensed financial institutions issued financial licenses by the Hong Kong Special Administrative Region Government of the People's Republic of China to jointly complete overseas five types of capital asset management plans.
Article 8: "Overseas Five Types of Capital Asset Management Plan" custodian banks (Chinese Banks): Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, China Merchants Bank, China Everbright Bank, CITIC Bank, China Minsheng Bank, Huaxia Bank, China Guangfa Bank, Shanghai Pudong Development Bank, Industrial Bank, Ping An Bank, and banks with established branches located in the Hong Kong Special Administrative Region and the Macao Special Administrative Region of the People's Republic of China , or banks that have established branches in sovereign countries that have formally established diplomatic relations with the People's Republic of China.
Article 9: "Overseas Five Types of Capital Asset Management Plan" custodian banks (Foreign Banks): banks of the Hong Kong Special Administrative Regions, Macao Special Administrative Regions, and Taiwan Region that have established branches on the mainland of the People's Republic of China, or banks of sovereign countries that have formally established diplomatic relations with the People's Republic of China that have established branches on the territory of the People's Republic of China (including the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan Region of the People's Republic of China). For example: HSBC, Standard Chartered Bank, Citibank, Bank of America, Deutsche Bank, Credit Suisse, Union Bankof Switzerland (UBS), Barclays Bank, BNP Paribas, Scotiabank, National Australia Bank, MUFG Bank, OCBC Wing Hang Bank, Nanyang Commercial Bank, Union Bank of Switzerland, Hang Seng Bank, Bank of East Asia, Development Bank of Singapore (DBS), etc
Article 10: The currency types of the"Overseas Five Types of Capital Asset Management Plan" : the US dollar issued by the Federal Reserve, the Euro issued by the European Central Bank, and the domestic currency issued by the central bank of sovereign countries that have officially established diplomatic relations with the People's Republic of China, the Hong Kong dollar circulating in the Hong Kong Special Administrative Region , the Macau dollar circulating in the Macao Special Administrative Region, and the New Taiwan dollar circulating in Taiwan Region of the People's Republic of China.
Chapter 3 Overseas Five types of Capital Contributors
Article 11: Overseas Government Capital Contributors: refers to the Ministry of Finance of the Central Government of a sovereign country that has officially established diplomatic relations with the People's Republic of China, as well as the Finance Department of the Hong Kong Special Administrative Region Government, the Economic and Finance Department of the Macao Special Administrative Region Government, and the Finance Department of the Taiwan Region Government of the People's Republic of China.
Article 12: Overseas Financial Capital Contributors: refers to investment banks, commercial banks, and non-bank financial institutions of the sovereign countries that have officially established diplomatic relations with the People's Republic of China, as well as the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region of the People's Republic of China. Non-bank financial institutions include: Public Offering of Funds, Private Equity Funds, Private Securities Funds, Securities Institutions, Trust Institutions, Factoring Companies, Financial Leasing Companies, Finance Companies, Operating Leasing Companies, Property Insurance Companies, Life Insurance Companies, Insurance Asset Management Companies, Reinsurance Companies, Asset Management Companies, Futures Companies, Investment Companies, etc.
Article 13: Overseas Private Capital Contributors: refers to citizens of sovereign countries that have officially established diplomatic relations with the People's Republic of China, as well as residents of the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region of the People's Republic of China
Article 14: Overseas Industrial Capital Contributors: refers to various production and distribution enterprises in the primary, secondary, and tertiary industries of sovereign countries that have officially established diplomatic relations with the People's Republic of China. Various production and distribution enterprises in the primary, secondary, and tertiary industries of the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region of the People's Republic of China.
Article 15: Overseas Securities Capital Contributors: Listed companies listed on various global stock exchanges by enterprises of sovereign countries that have officially established diplomatic relations with the People's Republic of China, as well as enterprises from the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan regions of the People's Republic of China. For example, listed companies on stock exchanges such as the New York Stock Exchange, NASDAQ Stock Exchange, Tokyo Stock Exchange, Singapore Exchange, Toronto Stock Exchange, London Stock Exchange, HKEX, Bombay Stock Exchange, and NYSE Euronext.
Chapter 4 Key Points of Overseas Five types of Capital Asset Management Plans
Article 16: “Overseas Five types of Capital Asset Management Plans”Full name:“The Outline of the 14th Five-Year Plan of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects”Overseas Five types of Capital Asset Management Plan for Overseas Government Capital, Overseas Financial Capital, Overseas Private Capital, Overseas Industrial Capital, and Overseas Securities Capital. "Overseas Five Types of Capital Asset Management Plan"abbreviated as "Overseas Five Types of Capital Asset Management Plan".
Article 17: "Overseas Five Types of Capital Asset Management Plan" Scale and Currency: the first batch of US dollars or Euros equivalent to RMB 150 trillion, or domestic currencies issued by sovereign central banks that have officially established diplomatic relations with the People's Republic of China, or Hong Kong dollars circulating in the Hong Kong Special Administrative Region of the People's Republic of China, Macau dollars circulating in the Macao Special Administrative Region of the People's Republic of China, and New Taiwan dollars circulating in the Taiwan region of the People's Republic of China). The bank deposits, circulating fund, cash, gold, bank notes, stocks, bonds, etc. held by the overseas five types of capital contributors can be used as capital to enter the "Overseas Five Types of Capital Asset Management Plan"
Article 18: "Overseas Five Types of Capital Asset Management Plan" Period of Cooperation: 10 to 30 years.
Article 19: "Overseas Five Types of Capital Asset Management Plan" Contributors: Overseas Government Capital Contributors,Overseas Financial Capital Contributors, Overseas Private Capital Contributors, Overseas Industrial Capital Contributors, and Overseas Securities Capital Contributors as described in Chapter 3 of the“Overseas Five types of Capital Asset Management Plan Institutional Norms”.
Article 20: "Overseas Five Types of Capital Asset Management Plan" Asset managers (also known as "overseas five types of capital asset managers"): China Asset Management Shares Limited.
Article 21: "Overseas Five Types of Capital Asset Management Plan" custodian banks (Chinese Banks): Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, China Merchants Bank, China Everbright Bank, CITIC Bank, China Minsheng Bank, Huaxia Bank, China Guangfa Bank, Shanghai Pudong Development Bank, Industrial Bank, Ping An Bank, and banks with established branches located in the Hong Kong Special Administrative Region and the Macao Special Administrative Region of the People's Republic of China , or banks that have established branches in sovereign countries that have formally established diplomatic relations with the People's Republic of China.
Article 22: "Overseas Five Types of Capital Asset Management Plan" custodian banks (Foreign Banks): banks of the Hong Kong Special Administrative Regions, Macao Special Administrative Regions, and Taiwan Region that have established branches on the mainland of the People's Republic of China, or banks of sovereign countries that have formally established diplomatic relations with the People's Republic of China that have established branches on the territory of the People's Republic of China (including the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan Region of the People's Republic of China). For example: HSBC, Standard Chartered Bank, Citibank, Bank of America, Deutsche Bank, Credit Suisse, Union Bankof Switzerland (UBS), Barclays Bank, BNP Paribas, Scotiabank, National Australia Bank, MUFG Bank, OCBC Wing Hang Bank, Nanyang Commercial Bank, Union Bank of Switzerland, Hang Seng Bank, Bank of East Asia, Development Bank of Singapore (DBS), etc
Article 23: "Overseas Five Types of Capital Asset Management Plan" Investment projects:The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects” (including: Domestic Industrial Projects, Overseas One Belt One Road Projects, Financial Projects, Social Welfare Projects）
Article 24: "Overseas Five Types of Capital Asset Management Plan" Asset management fees: asset management fees range from 0.5% to 1.5% per year.
Article 25: "Overseas Five Types of Capital Asset Management Plan" Principle of profit distribution: before the investment principal is recovered, the distributable profits after tax shall be distributed in proportion to 80% of the overseas five types of capital contributors and 20% of the overseas five types of capital asset managers. After the investment principal is recovered, the distributable profits after tax are distributed in proportion to 60% of the overseas five types of capital contributors and 40% of the overseas five types of capital asset managers.
Article 26: "Overseas Five Types of Capital Asset Management Plan" Policy on the order of interest distribution:
（1）Pay taxes to the government of the country or region where the project is located, and pay management fees to the superior institutions of China Asset Management Shares Limited which are the overseas five types of capital asset managers.
（2）Overseas five types of capital contributors can recover their investment principal and financial costs, or repay the bank's principal and interest ( before the investment principal is recovered, the distributable profits after tax shall be distributed in proportion to 80% of the overseas five types of capital contributors and 20% of the overseas five types of capital asset managers. After the investment principal is recovered, the after tax distributable profits are distributed in proportion to 60% of the overseas five types of capital contributors and 40% of the overseas five types of capital asset managers.)
（3）Overseas five types of capital contributors and overseas five types of overseas capital asset managers shall donate a portion of their profits to the Medical Social Welfare Public Welfare Fund of the National Health Commission of the People's Republic of China, the Pension and Social Welfare Public Welfare Fund of the Ministry of Civil Affairs of the People's Republic of China, and the Education and Social Welfare Public Welfare Fund of the Ministry of Education of the People's Republic of China in proportion to their distribution; Donate a portion of the profits to the United Nations Medical and Social Welfare Fund, the United Nations Pension and Social Welfare Fund, and the United Nations Educational and Social Welfare Fund.
Chapter 5 The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects
Article 27: The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035 - national strategic projects are divided into Domestic Industrial Projects, Overseas One Belt One Road Projects, Financial Projects, Social Welfare Projects.The implementation will be organized in stages and batches from 2024 to 2035. The total investment scale of national strategic projects (first batch) is RMB 150 trillion, among them, the investment scale of Domestic Industrial Projects (the first batch) is RMB 70 trillion, the investment scale of Overseas One Belt One Road Projects (the first batch) is RMB 70 trillion, and the investment scale of Financial Projects (the first batch) is RMB 10 trillion. Donate a portion of the profits from national strategic projects (first batch) of RMB 8 trillion to the medical, educational, and Pension and social welfare public welfare funds.
Article 28: The five major characteristics of The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035 - National Strategic Projects. Firstly, adhere to a problem oriented approach. In response to the practical contradictions that have arisen in China's national economy and social development, analyze the underlying reasons truthfully and systematically solve the practical contradictions and problems that have arisen. The second is related to the national economy and people's livelihood. Through the way of investment, consumption, and import and export, China's national economic output value is added by RMB 90 trillion annually, and government fiscal revenue is added by RMB 14.64 trillion annually. It provides 20 million job opportunities for college students and graduates from vocational and technical colleges every year. Thirdly, the project promotes the implementation of the nine national strategies (One Belt One Road、the Guangdong-Hong Kong-Macao Greater Bay Are、Coordinated Development of the Beijing-Tianjin-Hebei Region、Integration of the Yangtze River Delta、Yangtze River Economic Belt、Rural Revitalization、The Hainan Free Trade Port、Ecological protection and High-Quality Development of the Yellow River、Made in China 2025). Fourthly, it has great economic value and good social benefits, and the project has uniqueness and authority, which is in line with the value of capital investment. The fifth is scientific top-level strategic planning. Based on the theory of national financial strategy discipline, top-level planning and design are carried out for the ten key elements of project strategic development, capital structure, and benefit distribution.
Article 29: The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035 - National Strategic Projects for domestic industries (first batch): Digital Rights Exchange for Cultural and artistic works, movies, television, and publications; The University of Excellent Traditional Chinese Culture and Arts; Vocational and Technical Colleges for Strategic Emerging Industries; National Tourism Resource Trading Platform; Beijing Nobel Medical Science Education Center; Agricultural Ecological County Zero Residue Green Ecological Food Base; National General Aviation Airport Construction and Aviation Aircraft Manufacturing Base; Youth Apartment Technology Industry City for National University Graduates; National Veterans Science and Technology Industry City; Natural gas container logistics distribution base in cities along the Yangtze River Basin; National hydrogen energy vehicle manufacturing industry cluster; National hydrogen shipbuilding industry cluster; Commercial satellite technology industry base; National green ecological zero residue authentic medicinal herb planting and processing base; Hainan Free Trade Island Global Trade Bonded Logistics Port and Global Tourism Trading Center; Integration of the Yangtze River Delta Shanghai Global Marine Digital Economy Settlement Center; the Guangdong-Hong Kong-Macao Greater Bay Are Guangzhou Nansha Technology Industry City; Coordinated Development of the Beijing-Tianjin-Hebei Region Xiong'an New Area Space Technology City; Digital Earth Core Technology Industry Cluster; National highway trunk logistics autonomous driving; Bohai Bay seawater desalination and green water westward transmission project; Healthy China-National Active Health Museum; coastal city artificial intelligence marine ecological aquaculture industry cluster; national forest grassland understory ecological economy industry cluster; building Inner Mongolia green zero residue food industry cluster; constructing national important agricultural and livestock product production base; red tourism base and etc. 24 types of domestic industrial projects.
Article 30: The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035 - National Strategic Projects for overseas One Belt One Road projects (first batch): China-US Digital Economy Free Trade Technology Industrial Park; China-Australia Digital Economy Free Trade Technology Industrial Park; China-Americas Digital Economy Free Trade Technology Industrial Park; China-Central Asia Digital Economy Free Trade Technology Industrial Park; China-ASEAN Digital Economy Free Trade Technology Industrial Park; China-Northeast Asia Digital Economy Free Trade Technology Industrial Park; China-Africa Digital Economy Free Trade Technology Industrial Park; China-South Asia Digital Economy Free Trade Technology Industrial Park; China-EU Digital Economy Free Trade Technology Industrial Park; China-West Asia Digital Economy Free Trade Technology Industrial Park; China-Pacific Island Countries Digital Economy Free Trade Technology Industrial Park.
Article 31: The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035 - National Strategic Projects for Social Welfare Projects: Establish“the Medical Social Welfare Public Welfare Fund of the National Health Commission of the People's Republic of China”、“the Pension and Social Welfare Public Welfare Fund of the Ministry of Civil Affairs of the People's Republic of China”、“the Education and Social Welfare Public Welfare Fund of the Ministry of Education of the People's Republic of China”、“the United Nations Medical and Social Welfare Fund”、“ the United Nations Pension and Social Welfare Fund”、“the United Nations Educational and Social Welfare Fund”. Part of the profits from the investment projects of the overseas five types of capital asset management plans are donated to the medical, pension, and education social welfare public welfare funds, which are used for medical, pension, and education social welfare public welfare undertakings in China and globally.
Chapter 6 Theoretical System - National Financial Strategy Discipline Theory
Article 32: The theoretical system of the National Financial Strategy discipline was founded by Professor Liang Xi, the founder of the National Financial Strategy discipline. In the process of conducting on-site research at the grassroots level and preparing national strategic projects, the research group has always used the innovative theoretical system of the National Financial Strategy discipline to guide on-site research and the preparation of national strategic projects. Strategic positioning of the National Financial Strategy discipline: a new comprehensive applied discipline that serves national financial strategy, regional economic development, and major national projects. The discipline of national financial strategy follows the laws of the universe and humanity, originating from practice and the people, summarizing from practice and the people, and serving practice and the people; a new comprehensive applied discipline system serving national financial strategy, regional economic development, and major national projects.
Article 33: Source of National Financial Strategy Discipline: Combining the basic theories of international financial engineering with the actual situation of China's economic construction, deeply analyzing the six major contradictions faced by China's economic society and fiscal and financial fields in the new era, It has put forward a systematic solution to comprehensively implement the financial innovation theory of the national strategy (One Belt One Road、the Guangdong-Hong Kong-Macao Greater Bay Are、Coordinated Development of the Beijing-Tianjin-Hebei Region、Integration of the Yangtze River Delta、Yangtze River Economic Belt、Rural Revitalization、The Hainan Free Trade Port、Ecological protection and High-Quality Development of the Yellow River、Made in China 2025), and established a new comprehensive applied discipline, the National Financial Strategy discipline, which serves international financial strategy, regional economic development, and major national projects.
Article 34: View of interests of National Financial Strategy Discipline
: It is a discipline in the macroeconomic field that aims to implement national strategies, provide financial innovation theory and policy exploration, and business model innovation. This discipline always adheres to a problem oriented approach and is based on practice; always practicing the basic principle of highly consistent national interests, people's interests, corporate interests, and individual interests. It is a new practical discipline that serves national strategy.
Article 35: The scope of National Financial Strategy Discipline: it is a multi-dimensional spatial universe thinking, unique business model and international financial engineering methodology based on the transformation and upgrading of existing traditional industries with new technologies (Internet + Big Data + Artificial Intelligence+Cloud Computing+Blockchain+Internet of Things), focusing on the development of emerging industries; It is another discipline that studies "capital, credit, and wealth", which studies the supply and demand of money, the classification and attributes of capital, the generation and application of credit, and the creation and distribution of wealth. The National Financial Strategy Discipline follows the laws of the universe and humanity, originating from practice and the people, summarizing from practice and the people, and serving practice and the people. Summarize The National Financial Strategy Discipline in three simple and understandable sentences: Currency Movers, Credit Managers, and Wealth Creators.
Article 36: The theoretical system of the National Financial Strategy Discipline contributes and achieves in the history of Chinese finance and international finance;
Firstly, Established a new comprehensive applied discipline system that serves national financial strategy, regional economic development, and major national projects. The National Financial Strategy Discipline follows the laws of the universe and humanity, and takes it as its own responsibility to practice the financial innovation theory and practice of national strategies such as One Belt One Road、the Guangdong-Hong Kong-Macao Greater Bay Are、Coordinated Development of the Beijing-Tianjin-Hebei Region、Integration of the Yangtze River Delta、Yangtze River Economic Belt、Rural Revitalization、The Hainan Free Trade Port、Ecological protection and High-Quality Development of the Yellow River、Made in China 2025, propose a systematic solution for financial innovation theory and practice to implement national strategies from the standpoint of national strategy.
Secondly, systematically categorize capital into five types: Government Capital, Financial Capital, Private Capital, Industrial Capital, and Securities Capital. According to quantitative analysis of five types of capital (Government Capital, Financial Capital, Private Capital, Industrial Capital, and Securities Capital), China's total of these five types of capital is RMB 95.26 trillion (according to incomplete statistics in 2022). Among them, government capital (2.09%) is RMB 20 trillion, financial capital (52.05%) is RMB 495.6 trillion, private capital (23.82%) is RMB 227 trillion, industrial capital (11.96%) is RMB 114 trillion, and securities capital (10.07%) is RMB 96 trillion. Provide theoretical basis for the central government to formulate national financial and monetary strategies.
Thirdly, credit can be divided into four types: Government Credit, Bank Credit, Enterprise Credit, and Personal Credit. On the basis of four credit theory classifications, the national financial management department theoretically separates the management of "enterprise commercial credit" from the banking system, returns "enterprise commercial credit" to the creator of credit - enterprises, and provides policy, theoretical, and legal basis. For a long time, scholars and theoretical circles have corrected the concept of "enterprise commercial credit"="currency", to provide a theoretical basis for improving the comprehensive competitiveness of enterprises through the legitimate and reasonable application of their enterprise commercial credit.
Fourthly, propose the idea of creating a "National Tax Credit Digital Asset Trading Platform". Propose a credit evaluation and transaction system based on corporate taxation, personal taxation, bank taxation, and local government taxation, with the establishment of a "National Tax Credit Digital Asset Trading Platform" as a symbol. Transfer the credit evaluation and rating rights of enterprises from a very small number of evaluation agencies determine the fate of thousands of enterprises to the enterprises themselves . The enterprises will determine their credit rating and evaluation based on taxation. Enterprise tax credit is valuable. Through tax payment, enterprises can obtain commercial credit for transactions, buying and selling, procurement, investment, etc. This not only increases a large amount of tax revenue for the country, but also brings huge tax credit value to tax paying enterprises, effectively encouraging them to pay taxes legally and not to evade taxes. Trading four types of tax credit: individual, enterprise, bank, and government: comprehensively incorporating individual tax credit, enterprise tax credit, bank tax credit, and local government tax credit into the "National Tax Credit Digital Asset Trading Platform" for trading.
Fifthly, propose a comprehensive solution to effectively solve local government platform debt, and providing a solid theoretical foundation and practical feasible path for local governments to solve debt problems. On the premise that the country does not issue additional currency or transfer government platform assets, it is theoretically explained that the basic construction of local governments is not solely based on government platform debt, but should fully utilize the intangible asset of "government tax credit" to solve the problem of not being in debt for local economic construction and accelerating local infrastructure construction.
Sixth, put forward the theory and practice of financial innovation to implement the "One Belt One Road" national strategy and promote RMB internationalization. By adhering to the three basic principles of "Equal Free Trade, Equal Physical Investment, and Local Currency Settlement", effectively solve the trade deficit between China and the United States, promote China's international production capacity cooperation process, and propose a systematic solution to the goals, paths, channels, and methods of the RMB internationalization. Propose the basic principle of highly consistent national interests, people's interests, corporate interests, and individual interests in the distribution of project investment benefits.
Chapter 7 Establishment of Global Branches of China Asset Management Shares Limited
Article 36: In order to more efficiently and systematically complete the establishment and operation of the "Overseas Five Types of Capital Asset Management Plans", China Asset Management Shares Limited will establish branches in cities in the following countries or regions：New York of USA、Los Angeles、San Francisco、London of UK、Frankfurt of Germany、Zurich of Switzerland、 Paris of France、 Madrid of Spain、Rome of Italy、Oslo of Norway、Toronto and Vancouver of Canada, Sydney of Australia、Stockholm of Sweden、Sao Paulo of Brazil、Mexico City、Singapore、Tokyo of Japan、Seoul of South Korea、Jakarta of Indonesia、Kuala Lumpur of Malaysia、Bangkok of Thailand、Hanoi of Vietnam、 Phnom Penh of Cambodia、Kathmandu of Nepal、 New Delhi of India、Moscow of Russia、 Astana of Kazakhstan、 Tehran of Iran、Dubai of United Arab Emirates、 Muscat of Oman、 Manama of Bahrain、Doha of Qatar、 Kuwait City、 Riyadh of Saudi Arabia、Cape Town of South Africa、Victoria Seychelles、Cairo of Egypt、Rabat of Morocco, etc. Adjustments will be made to the cities in the countries or regions where branch offices are established based on actual business needs.
Article 38: The work tasks and responsibilities of China Asset Management Shares Limited' s global branches: liaising with international financial organizations such as the Federal Reserve, the European Central Bank, the World Bank, the International Monetary Fund, the Monetary and Economic Trade Balance Organization, the Asian Development Bank, the Bank for International Settlements, and the Basel Committee on Banking Supervision; Coordinate with the central government financial regulatory department and the Ministry of Finance of the country where the contact is located, and grasp the financial regulatory policies of the country where the contact is located; connecting with banks and non bank financial institutions in the country where the liaison is located, and establish strategic partnership and cooperation relationships; Connect with the overseas five types of capital contributors in the country where the liaison is located, and jointly complete the establishment of the "Overseas Five Types of Capital Asset Management Plan"; Connect and liaise with branches established by Chinese banks in their respective countries; Connect with foreign banks that have been included in the "Overseas Five Types of Capital Asset Management Plan" and establish cooperative relationships with foreign custodian banks; Introduce Chinese banks and non bank financial institutions to establish branches in their respective countries.
Chapter 8 Participation of Overseas Five types of Capital Contributors in Overseas Five types of Capital Asset Management Plans
Article 39: How overseas government capital contributors participate in the "Overseas Five types of Capital Asset Management Plans" of national strategic projects: The government of the People's Republic of China and all sovereign governments that have formally established diplomatic relations, on the basis of the five diplomatic principles of "mutual respect for sovereignty and territorial integrity, non aggression, non-interference in each other's internal affairs, equality and mutual benefit, and peaceful coexistence", the basic principles of trade and investment cooperation between the two countries are "Equal Free Trade, Equal Physical Investment, and Local Currency Settlement" proposed by national financial strategy discipline, and build a "EEL Trade and Investment Settlement System" for both countries. The People's Bank of China, the Ministry of Finance, the State Administration of Financial Supervision, the State Administration of Foreign Exchange, the General Administration of Customs of the People's Republic of China and other sovereign state governments that have officially established diplomatic relations with the People's Republic of China, including Central bank, the Ministry of Finance, the Ministry of Financial Supervision, the State Administration of Foreign Exchange, and the State Customs signed“the Memorandum of Understanding on the Strategic Cooperation of‘Jointly Building Digital Economy Free Trade Science and Technology Industrial Park between the People's Republic of China and the Government of a Country Formally Establishing Diplomatic Relations with the People's Republic of China’”
Article 40: How overseas financial capital contributors participate in the "Overseas Five types of Capital Asset Management Plans" of national strategic projects: Overseas commercial banks provide trade and investment settlement, loan services, bill acceptance and discounting, letter of credit services and guarantees, agency payments and insurance services for national strategic projects；Overseas investment banks provide securities underwriting, private equity issuance, mergers and acquisitions, and project financing services for national strategic projects in overseas capital markets; Overseas public funds and overseas private securities funds provide market value management services for national strategic project companies listed on overseas stock exchanges；Overseas private equity industry funds directly participate in national strategic projects through equity investment; Overseas securities institutions provide guidance on the IPO of national strategic project companies, and overseas trust institutions issue trust products to serve national strategic projects; Overseas factoring companies provide comprehensive financial services such as international trade financing, commercial credit investigation, accounts receivable management, and risk bearing for national strategic projects; Overseas financial leasing companies provide financing leasing services , accept leasing deposits from lessees, and transfer lease receivables to commercial banks for national strategic projects; Overseas financial institution type financial companies, also known as financial companies, provide loan services, investment services, bill discounting services, and other services for national strategic projects; Overseas operating leasing companies provide leasing services for national strategic projects, including large equipment, marine vessels, vehicles and aircraft, construction machinery, oil and gas platforms, etc; Overseas property insurance companies provide property insurance services for national strategic projects; Overseas life insurance companies provide life insurance services for national strategic projects; Overseas insurance asset management companies provide lending services for national strategic projects to obtain earnings; Overseas reinsurance companies will fully participate in national strategic projects; Overseas asset management companies provide asset management services, investment consulting services, asset evaluation services, asset custody services, as well as financing leasing, financial leasing and other related services for national strategic projects; Overseas futures companies provide futures brokerage services for national strategic projects; Overseas investment companies provide capital and other services for national strategic projects.
Article 41: How overseas private capital contributors participate in the "Overseas Five types of Capital Asset Management Plans" of national strategic projects: Firstly, overseas private capital contributors entrust overseas five types of capital asset managers (China Asset Management Shares Limited) to hold equity in national strategic project companies, participate in national strategic projects through entrusted shareholding, and receive shareholders dividends of national strategic project companies. Secondly, overseas private capital contributors participate in national strategic projects by purchasing financial products. By purchasing financial products issued by overseas financial institutions to obtain product returns: Public Offering of Funds, Private Equity Funds, Private Securities Funds, Securities Stocks, Trust Products, Factoring Products, Financial Leasing Products, Financial Products, Operating Leasing Products, Property Insurance Products, Life Insurance Products, Insurance Asset Management Products, Reinsurance Products, Asset Management Products, Futures Products, Investment Company Products, etc.
Article 42: How overseas industrial capital contributors participate in the "Overseas Five types of Capital Asset Management Plans" of national strategic projects: Firstly, overseas industrial capital contributors entrust overseas five types of capital asset managers (China Asset Management Shares Limited) to hold equity in national strategic project companies, participate in national strategic projects through entrusted shareholding, and receive shareholders dividends of national strategic project companies. Secondly, overseas industrial capital contributors directly hold a portion of the equity of national strategic project companies that can be held according to policy regulations, participate in national strategic projects through direct shareholding, and receive shareholders dividends of national strategic project companies. The thirds is that overseas industrial capital contributors participate in national strategic projects by purchasing financial products. By purchasing financial products issued by overseas financial institutions to obtain product returns: Public Offering of Funds, Private Equity Funds, Private Securities Funds, Securities Stocks, Trust Products, Factoring Products, Financial Leasing Products, Financial Products, Operating Leasing Products, Property Insurance Products, Life Insurance Products, Insurance Asset Management Products, Reinsurance Products, Asset Management Products, Futures Products, Investment Company Products, etc.
Article 43: How overseas securities capital contributors participate in the "Overseas Five types of Capital Asset Management Plans" of national strategic projects: Firstly, overseas securities capital contributors entrust overseas five types of capital asset managers (China Asset Management Shares Limited) to hold equity in national strategic project companies, participate in national strategic projects through entrusted shareholding, and receive shareholders dividends of national strategic project companies. Secondly, overseas securities capital contributors directly hold a portion of the equity of national strategic project companies that can be held according to policy regulations. In accordance with securities market rules and financial audit systems, the shareholding ratio achieves the purpose of consolidating financial statements. participate in national strategic projects through direct shareholding and receive dividends from shareholders of national strategic project companies. The thirds is that overseas securities capital contributors participate in national strategic projects by purchasing financial products. By purchasing financial products issued by overseas financial institutions to obtain product returns: Public Offering of Funds, Private Equity Funds, Private Securities Funds, Securities Stocks, Trust Products, Factoring Products, Financial Leasing Products, Financial Products, Operating Leasing Products, Property Insurance Products, Life Insurance Products, Insurance Asset Management Products, Reinsurance Products, Asset Management Products, Futures Products, Investment Company Products, etc.
Chapter 9 Cash, Gold, Bank Notes, Securities, Stocks, and Bonds of Overseas Five types of Capital Contributors
Article 44: The cash of Overseas Five types of Capital Contributors: US dollar cash issued by the Federal Reserve, Euro cash issued by the European Central Bank, domestic currency cash issued by sovereign central banks that have diplomatic relations with the People's Republic of China, Hong Kong dollar cash circulating in the Hong Kong Special Administrative Region, Macau dollar cash circulating in the Macao Special Administrative Region, and New Taiwan dollar cash circulating in Taiwan Region of the People's Republic of China. After signing the "Overseas Five types of Capital Cash Asset Management Plan Contract" with the overseas five types of capital contributors and the overseas five types of capital asset managers (China Asset Management Shares Limited), and then go to the "Overseas Five types of Capital Asset Management Plan" custodian bank in the city where they are located for cash verification and deposit into the asset management account, and then enter the "Overseas Five types of Capital Asset Management Plan" in accordance with regulations.
Article 45: Gold of Overseas Five types of Capital Contributors: After signing the "Overseas Five types of Capital Gold Asset Management Plan Contract" with the overseas five types of capital contributors and the overseas five types of capital asset managers (China Asset Management Shares Limited), the gold shall be melted in accordance with international standards at the gold smelting factory in the city where it is located, and the gold custody procedures shall be handled at the "Overseas Five Types of Capital Asset Management Plan Custody Bank", then enter the "Overseas Five types of Capital Asset Management Plan" according to regulations.
Article 46: The Bank Bill of Overseas Five types of Capital Contributors: After signing the "Overseas Five types of Capital Asset Management Plan Contract-Bank bills (Bank Guarantees, Standby Letters of Credit, Bank Promissory Notes)" with the overseas five types of capital contributors and the overseas five types of capital asset managers (China Asset Management Shares Limited), and handle bank bills (Bank Guarantees, Standby Letters of Credit, Bank Promissory Notes) , bank loans, financing loans, bill discounting, or fund allocation procedures at the "Five Overseas Capital Asset Management Plans" custodian bank or non bank financial institution in the city where they are located, then enter the "Overseas Five Capital Asset Management Plan" in accordance with the regulations.
Article 47: Stocks of Overseas Five types of Capital Contributors: After signing the "Overseas Five Types of Capital Stocks Asset Management Plan Contract" with the overseas five types of capital contributors and the overseas five types of capital asset managers (China Asset Management Shares Limited), entrusted to the "Overseas Five Types of Capital Asset Management Plan" custodian bank or securities institution in the city where they are located to handle securities and stock financing procedures, and then enter the "Overseas Five Types of Capital Asset Management Plan" in accordance with regulations
Article 48: Bond of Overseas Five types of Capital Contributors: After signing the "Overseas Five Types of Capital Asset Management Plan Contract-Bond (Government Bonds, Bank Bonds) " with the overseas five types of capital contributors and the overseas five types of capital asset managers (China Asset Management Shares Limited), after completing the financing procedures for bonds (government bonds, bank bonds) in the "Overseas Five Types of Capital Asset Management Plan" custodian banks or non bank financial institutions in the host city,, and then enter the "Overseas Five Types of Capital Asset Management Plan" in accordance with regulations
Chapter 10 Warmly Welcome Overseas Chinese to Participate in National Strategic Projects
Article 49: There are over 60 million overseas Chinese and overseas Chinese in the People's Republic of China, distributed in 198 countries and regions around the world. Warmly welcome overseas Chinese to participate in national strategic projects through various forms and channels, work together to build a community with a shared future for mankind, and share the dividends of national strategic projects. Firstly, as the overseas five types of capital contributor, directly participate in the "Overseas Five Types of Capital Asset Management Plan" of national strategic projects; The second is to contact and recommend overseas five types of capital contributor to participate in the national strategic project "Overseas Five Capital Asset Management Plan"; Thirdly, recommend various mature advanced technologies to participate in national strategic projects; Fourthly, recommend various mature technology industry projects as national strategic projects; Fifth, participate in the implementation of national strategic projects in the cities of own country or region; Sixth, participate in the work of cities where China Asset Management Shares Limited' s global branches are located; Seventh, return to China to participate in the construction, operation and management of national strategic projects; Eighth, participate in national strategic projects in various other forms.
Article 50: “Overseas Five types of Capital Asset Management Plan Institutional Norms”shall be put into trial operation from January 1, 2024, and shall be expressed in three languages: Chinese, English, and German. In case of any ambiguity, the Chinese version shall prevail. The interpretation and revision rights of the“Overseas Five types of Capital Asset Management Plan Institutional Norms”are of China Asset Management Shares Limited which is The Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives through the Year 2035-National Strategic Projects”Overseas Five types of Capital Asset Management platform company for Overseas Government Capital, Overseas Financial Capital, Overseas Private Capital, Overseas Industrial Capital, and Overseas Securities Capital.