To curb malicious price-cutting and unfair competition, effectively safeguard the mineral rights valuation market, and ensure the quality of mineral rights valuation reports, the China Association of Mineral Rights Valuers has initiated an investigation and interview procedure in response to widespread complaints from member units regarding malicious price-cutting practices observed during the bidding process for mineral rights valuation assignments. In Beijing, the association conducted interviews with the legal representatives of mineral rights valuation agencies suspected of engaging in such malicious price-cutting competition.
　　The association issued a serious criticism to the institutions that were summoned for talks, pointing out the grave harm caused by malicious price-cutting competition. In accordance with self-regulatory management regulations, it demanded that these institutions carry out rectifications within the specified timeframe and noted the matters discussed during the talks in their integrity records.
　　The legal representatives of the organizations summoned all recognized the adverse impact that malicious price-cutting competition has on the industry. They expressed remorse for their own malicious price-cutting practices, accepted the association’s disciplinary measures, and committed to making the required rectifications. Going forward, they will adopt a more serious attitude, strengthen their sense of responsibility, enhance internal management, and put an end to such incidents.
　　The talks aimed at addressing malicious price-cutting competition follow the Association’s issuance of the “Notice on Firmly Curbing Unfair Competitive Practices and Effectively Maintaining Order in the Mining Rights Valuation Market” (Min Ping Xie Fa [ 2016 ] 26 Since No. , substantive self-regulatory measures have been adopted to curb malicious price-cutting and unfair competitive practices.
　　Curbing malicious low-price competition will be a key priority for the association in the coming period. We will adopt a zero-tolerance stance toward egregious price-cutting practices, investigating and addressing each case as it is discovered. Once verified, such violations will be severely punished in accordance with the "Asset Valuation Law" and the "Self-Regulatory Management Regulations for Mineral Rights Valuation Practitioners of the China Mining Rights Appraisers Association."
 

　　　　　　　　　　　　　　　　　　　　                                                        China Association of Mineral Rights Appraisers
                             　　　　　　　　                                                    2016 Year 9 Moon 20 day