— The China Association of Asset Appraisers Responds to Questions from Our Reporter on the Issuance of the “Measures for Registration of Asset Appraiser Professional Qualification Certificates (Trial)” and the “Management Measures for Practicing Members of the China Association of Asset Appraisers (Trial)”

    To ensure the implementation of the professional qualification system for asset appraisers and to standardize the management of their professional qualifications, the China Association of Asset Appraisers... ( hereinafter referred to as “CASC” ) Recently, the "Measures for the Registration of Professional Qualification Certificates for Asset Appraisers (Trial)" (hereinafter referred to as the "Registration Measures") and the "Management Measures for Practicing Members of the China Association of Asset Appraisers (Trial)" (hereinafter referred to as the "Practicing Member Measures") were released. A responsible official from the China Association of Asset Appraisers answered reporters' questions regarding the key issues related to the "Registration Measures" and the "Practicing Member Measures."

    China Accounting News: What are the background and significance of formulating the “Registration Measures”?
    Relevant person in charge According to the "Decision of the State Council on Cancelling and Adjusting a Batch of Administrative Approval Items and Other Matters," ( National Development [ 2014 ] 27 Number ) and the “Notice from the Ministry of Human Resources and Social Security and the Ministry of Finance on Issuing the Provisional Regulations on the Professional Qualification System for Asset Appraisers and the Implementation Measures for the Examination of Asset Appraiser Professional Qualifications” ( Ministry of Human Resources and Social Security Document [ 2015 ] 43 Number, hereinafter referred to as the Ministry of Human Resources and Social Security 43 Document No. ) The requirement is that the professional qualification system for asset appraisers should be shifted from an administrative approval-based model to a competency-based evaluation model. To implement the spirit of the above-mentioned document, the China Association of Asset Appraisers, after extensively soliciting opinions from government departments, local associations, and asset appraisers themselves, has researched and formulated the “Registration Measures.”

    The issuance and implementation of the “Registration Measures” represent an important step and a valuable attempt by the China Association of Asset Appraisers to put into practice the State Council’s spirit of streamlining administration and delegating power, strengthen the social management functions of industry associations, and innovate and improve the registration and management mechanism for asset appraisers. This initiative underscores the high importance attached by the Party and the state to leveraging the role of industry associations in social governance, and reflects the full confidence of the Ministry of Human Resources and Social Security and the Ministry of Finance in the industry management foundation and management capabilities that the China Association of Asset Appraisers has long established. In line with the requirements of the national reform of vocational qualification management, the “Registration Measures” have relaxed registration criteria, simplified registration procedures, enhanced registration services, and further standardized registration management. These measures will effectively boost registration efficiency, better provide the public with access to information on asset appraisers, and promote honest and compliant practice among appraisers.

    China Accounting News: What are the main contents of the “Registration Measures”?
     Relevant person in charge The “Registration Measures” consist of a total of: 7 Chapter 26 The document clearly defines the division of responsibilities and authorities regarding the registration of professional qualification certificates for asset appraisers, as well as the registration procedures, daily management, integrity record management, periodic inspections, and disciplinary measures.

    The “Registration Measures” stipulate that the registration targets are individuals who have obtained the Certificate of Qualification for Asset Appraisers, and provide detailed regulations on specific matters such as registration classification, registration requirements, registration procedures, registration process, the “Registration Card,” changes to information, and cancellation of registration. The “Registration Measures” also require that the association establish integrity files for each asset appraiser and mandate that all asset appraisers undergo regular inspections.

    The “Registration Measures” clarify that the professional qualification certificate for asset appraisers (jewelry) is issued by the China Appraisal Society. The original “Registered Asset Appraiser Registration Certificate” remains valid for one year. Individuals who have passed the previous examination or been recognized but have not yet registered may apply for registration in accordance with the “Registration Measures.”

    China Accounting News: Why does the “Registration Measures” require classified registration of asset appraisers?
     Relevant person in charge The “Registration Measures” stipulate that asset appraisers are registered according to whether they work at an appraisal agency, specifically dividing them into two categories: asset appraisers who work at appraisal agencies and asset appraisers who do not work at appraisal agencies.

    Asset appraisers working at asset valuation agencies are the primary entities responsible for conducting asset valuation services. They sign asset valuation reports and bear legal responsibility for their work. There are significant differences between these appraisers and those who do not work at asset valuation agencies in terms of practice requirements, continuing education, and subsequent regulatory oversight. Therefore, the “Registration Measures” adopt a categorized registration approach, placing particular emphasis on the registration services and supervision of asset appraisers employed by asset valuation agencies.

    Classification and registration do not establish准入 conditions; rather, they serve merely as an objective reflection of appraiser information and are disclosed on the website of the China Association of Asset Appraisers. On the one hand, this facilitates enhanced evaluation and management of asset appraisers working at asset appraisal firms in subsequent regulatory oversight. On the other hand, it makes it easier for regulatory authorities and entities seeking appraisal services to access relevant information about asset appraisers.

    China Accounting News: What innovations does the registration service for asset appraiser professional qualification certificates offer compared to the previous registration management system?
    Relevant person in charge In the process of drafting the “Registration Measures,” we drew upon the extensive management experience accumulated by the China Association of Asset Appraisers over the years in the registration and management of certified asset appraisers. At the same time, in light of the requirements for competency-based professional qualification management and the new trends in internet development, we introduced innovations in both the management system and operational mechanisms.

    First, we will eliminate registration requirements that lack a legal or regulatory basis—such as restrictions on full-time employment or age limits—and instead shift to a system of categorized information disclosure and management following registration. Second, applicants need only submit the minimum required registration documents, making full use of the information already collected during exam registration. Third, we will further promote the digitalization of the registration process and gradually move toward paperless registration. Qualified candidates will simply log into the registration management system via the website of the China Appraisal Society, follow the step-by-step instructions provided in the user manual, and upload their electronic documents to complete the registration procedure. The review and confirmation processes conducted by local associations and the China Appraisal Society will both take place in the system’s backend; applicants can check the status of their application at any time. Once the China Appraisal Society has confirmed the application, the system will generate a “Registration Card” stamped with an electronic seal. As a result, asset appraisers no longer need to travel back and forth between their institutions and local associations to handle various procedures. This simplifies the administrative process, shortens the registration time, and significantly improves efficiency.

    Similarly, asset appraisers can log into the registration management system and follow the on-screen instructions to update their registration information. With the exception of special matters such as changes in name, ID number, or employer, other personal information can be directly updated within the system, making the process convenient and efficient. In the future, as the information system is upgraded, we plan to integrate modules such as integrity profile reporting and periodic inspections into the system, thereby truly providing better support and services.     The asset appraiser provides various registration services.

    China Accounting News: What are the functions of the “Registration Card”?
    Relevant person in charge The “Registration Card” is a valid credential for personnel of assessment agencies engaged in asset valuation services. It features a unified numbering system and is valid nationwide, serving as a reference for users of asset valuation reports.

    The “Registration Card” serves the following purposes: First, after passing the examination and obtaining the Certificate of Professional Qualification for Asset Appraisers and completing registration, individuals no longer need to obtain any other certificates. During registration, the Registration Management System generates the “Registration Card,” which asset appraisers can preview, download, and print multiple times. Second, the “Registration Card” records basic information about asset appraisers, such as their name, gender, and employer. This information is updated in real time and includes a QR code for inquiry. Employers and users of asset appraisal reports can scan the QR code on the “Registration Card” to link directly to the website of the China Association of Asset Appraisers and check the appraiser’s latest personal and integrity information. Third, the “Registration Card” is divided into two categories—“Registration Cards for Personnel Working at Asset Valuation Firms” and “Registration Cards for Non-Valuation-Firm Personnel”—based on whether the individual works at an asset valuation firm, enabling categorized management that is both convenient and efficient.

    China Accounting News: What institutional arrangements have been put in place for the evaluation and management of asset appraisers following the implementation of the registration service?
    Relevant person in charge Ministry of Human Resources and Social Security 43 The document requires that individuals who have obtained the professional qualification certificate for asset appraisers shall voluntarily accept the management of the China Association of Asset Appraisers. The China Association of Asset Appraisers shall provide employers with information-query services for individuals holding the professional qualification certificate for asset appraisers.

    First, the “Registration Measures” have been refined and improved upon the foundation of integrity档案 management work carried out by the China Association of Asset Appraisers. They have strengthened requirements for integrity information and clearly defined the recording of good conduct.     The specific contents of the integrity files—including records of assessments, prompt information records, and records of improper conduct—are stipulated such that all asset appraisers must submit integrity information in accordance with the requirements of these measures. Verified integrity information will be publicly disclosed via the website of the China Association of Asset Appraisers. By establishing a mechanism for punishing dishonest asset appraisers, we can ensure that asset appraisers are better subject to supervision by both the industry and society.

    Second, the “Registration Measures” stipulate that practicing asset appraisers must undergo annual inspections each year. These annual inspections serve as an effective means of assessing the quality of asset appraisers’ practice. For instances in which asset appraisers are found—through annual inspections and other channels—to have violated relevant laws, administrative regulations, rules, or professional ethics in their work and thereby caused adverse effects, the Measures provide for disciplinary measures including verbal reminders, warnings, public criticism, revocation of the asset appraiser’s professional qualification registration, and withdrawal of the professional qualification certificate. Moreover, the Measures clearly specify which disciplinary measure applies to which specific circumstances.

    China Accounting News: How to Ensure Smooth Coordination Between Registration Services and Registration Management?
    Relevant person in charge From the date of issuance of the “Registration Measures,” the original “Certified Asset Appraiser Certificate” will remain valid for one year, giving existing certified asset appraisers sufficient time to complete their registration and confirmation.

    Originally registered asset appraisers shall be deemed to be the registered asset appraisers referred to in the “Registration Measures.” After the registration management system goes live, their registration information will automatically generate registration records within the system. The originally registered asset appraisers only need to log into the system and confirm the information. Subsequently, they can print the “Registration Card” in accordance with the provisions of the “Registration Measures,” thereby completing the registration confirmation process. As the registration system is currently under development, the specific launch date of the system will be announced separately.

    China Accounting Journal: What are the guiding principles behind the formulation of the “Regulations on Practicing Members”?
    Relevant official: To implement the State Council's... 27 In accordance with the spirit of the relevant document and in response to the requirements of reforming the management approach for asset appraisers, we have refined the membership management mechanism of industry associations, strengthened the self-regulatory functions of these associations, ensured smooth coordination between registration management and membership management, and streamlined the management chain. Building upon the improvements made to the original regulations governing practicing members, the China Association of Asset Appraisers has formulated the “Administrative Measures for Practicing Members.”

    China Accounting Journal: In what aspects does the “Practice Member Regulations” supplement the “Registration Regulations”?
    Relevant person in charge The “Regulations on Practicing Members” and the “Registration Regulations” complement each other. From the perspective of practicing member management, these regulations strengthen the post-registration membership management for asset appraisers who work at asset valuation agencies and have been registered. Additionally, they supplement the “Registration Regulations” in areas such as changes in appraisal firms and seal registration.

    The Measures specify the conditions for asset appraisers to transfer their practice, as well as the procedures and workflows for both the outgoing and incoming asset appraisal institutions and relevant local associations. They also include provisions designed to safeguard the rights of asset appraisers. Furthermore, the Measures lay down regulations regarding the specifications, styles, and management of asset appraisers’ official seals.