Li Qiang signed an order of the State Council to announce the revised "Foundation Management Regulations"

Xinhua News Agency, Beijing, November 10th: Premier Li Qiang recently signed an order of the State Council to announce the revised "Regulations on Foundation Management" (hereinafter referred to as the "Regulations"), which will come into effect on January 1, 2027.

The "Regulations" aim to strengthen the credibility of foundations and promote the healthy and orderly development of foundations. There are 8 chapters and 79 articles in the Regulations. The main contents of the revision are as follows.

The first is to improve the overall principle requirements. It is clarified 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, integrity, openness, transparency, and non-profit when engaging in public welfare activities.

The second is to improve the registration management system. Clarify the registration management level and registered capital, steadily promote direct registration, clarify the requirements for change registration procedures, and refine the liquidation procedures before cancellation.

The third is to improve the internal governance mechanism. Strengthen the responsibilities of sponsors and persons in charge, improve the powers of the organization and rules of procedure, and prohibit persons in charge, directors, supervisors, etc. from using related relationships to harm the interests of the foundation, beneficiaries and the public interests of society.

The fourth is to standardize activity management. Improve the requirements for fundraising, donations, funding and other activities, and regulate Internet public fundraising and cooperative public fundraising. Strengthen property 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.

The fifth is to strengthen information disclosure and industry self-discipline. Clarify the foundation's information disclosure obligations, unblock social supervision channels, and establish and improve industry norms.

Sixth, strengthen comprehensive supervision. Clarify the responsibilities of registration management agencies, business supervisory units, industry management departments, etc., consolidate the responsibilities of all parties, and form a joint regulatory force.