Premier Li Qiang of the State Council recently signed a State Council Order promulgating the revised “Regulations on the Administration of Foundations”, which will take effect on January 1, 2027. The purpose of the Regulations is to strengthen the foundation's credibility and promote the healthy and orderly development of the foundation. The Regulations consist of 8 chapters and 79 articles. The main contents of the revisions are as follows. The first is to improve the requirements of general principles. Clarify that the work of the foundation adheres to the leadership of the Communist Party of China, strengthens the requirements for party building work, and stipulates that the foundation should follow the principles of legality, voluntariness, honesty, openness, transparency, and non-profit in public welfare activities. The second is to improve the registration management system. Clarify registration management levels and registered funds, steadily promote direct registration, clarify requirements for changing registration procedures, and refine liquidation procedures before cancellation. The third is to improve internal governance mechanisms. Strengthen the responsibilities of sponsors and directors, improve organizational powers and rules of procedure, and prohibit leaders, directors, supervisors, etc. from using related relationships to harm the interests of foundations, beneficiaries, and the public interest of society. Fourth, standardize the management of activities. Improve requirements for fundraising, donation, funding and other activities, and regulate online public fundraising and cooperative public fundraising. Strengthen asset management and make it clear that all proceeds should be used for public welfare purposes. Strict project management requires tracking and management of project implementation. Fifth, strengthen information disclosure and industry self-discipline. Clarify the foundation's obligation to disclose information, clear channels of social supervision, and establish and improve industry standards. The sixth is to strengthen comprehensive supervision. Clarify the responsibilities of registration management agencies, business authorities, industry management departments, etc., consolidate the responsibilities of all parties, and form joint supervisory efforts. (Xinhua News Agency)
Zhitongcaijing · 2d ago
Premier Li Qiang of the State Council recently signed a State Council Order promulgating the revised “Regulations on the Administration of Foundations”, which will take effect on January 1, 2027. The purpose of the Regulations is to strengthen the foundation's credibility and promote the healthy and orderly development of the foundation. The Regulations consist of 8 chapters and 79 articles. The main contents of the revisions are as follows. The first is to improve the requirements of general principles. Clarify that the work of the foundation adheres to the leadership of the Communist Party of China, strengthens the requirements for party building work, and stipulates that the foundation should follow the principles of legality, voluntariness, honesty, openness, transparency, and non-profit in public welfare activities. The second is to improve the registration management system. Clarify registration management levels and registered funds, steadily promote direct registration, clarify requirements for changing registration procedures, and refine liquidation procedures before cancellation. The third is to improve internal governance mechanisms. Strengthen the responsibilities of sponsors and directors, improve organizational powers and rules of procedure, and prohibit leaders, directors, supervisors, etc. from using related relationships to harm the interests of foundations, beneficiaries, and the public interest of society. Fourth, standardize the management of activities. Improve requirements for fundraising, donation, funding and other activities, and regulate online public fundraising and cooperative public fundraising. Strengthen asset management and make it clear that all proceeds should be used for public welfare purposes. Strict project management requires tracking and management of project implementation. Fifth, strengthen information disclosure and industry self-discipline. Clarify the foundation's obligation to disclose information, clear channels of social supervision, and establish and improve industry standards. The sixth is to strengthen comprehensive supervision. Clarify the responsibilities of registration management agencies, business authorities, industry management departments, etc., consolidate the responsibilities of all parties, and form joint supervisory efforts. (Xinhua News Agency)