The punished officials include 51 at the prefecture or equivalent level, and 943 at the county or equivalent level, according to the statement.
The proposed IP transfers will be reviewed if they involve patent rights, exclusive rights to layout designs of integrated semiconductors, software copyrights, or rights to new plant varieties.
The rate outpaced the combined business revenue growth by all SOEs, standing at 17.5 percent year-on-year, which has made 15.6 trillion yuan during the same period, the ministry said.
The reform will introduce private or foreign investment in the shareholding of SOEs. Oil and gas companies will be at the forefront.
The purpose of the Budapest RMB Initiative is to expand the investment spectrum and financing sources of Hungary and to foster Chinese-Hungarian economic partnership. MNB's goals for the initiative are to create money, foreign exchange, and capital market infrastructures; develop the settlement system; and start negotiations about Chinese capital market licences with the major stakeholders of renminbi settlements.
The public comments drew the attention of wildlife authorities. The forestry and grassland administration also shared the information and announced that an inspection had been launched.
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The provision will go into effect in two years. The measure excludes pre-existing contracts, but new contracts awarded between now and 2021 won't be grandfathered in.
The rate is lower than that of the old guideline. Previously, the legally recognized interest rate on private lending was 24 percent.
The prospects for US IPOs of Chinese firms in 2021 remain to be seen, as companies in their early rounds of financing ponder changes in the US political and regulatory environment, Hao said at a recent forum in Beijing organized by online trading platform Xueqiu.
The rate stood at 9.9 per 1,000 in 2013, and was 7.7 in 2017.