The rules are formulated in accordance with the Procedures for the Evaluation of Enterprises Financial Management Talents (hereinafter referred to as the Procedures).
In Article 1 of the Procedures, “in the spirit of the Plan of Institutional Reform and Function Transformation Issued by the State council” refers to that “if enterprises, non-profit institutions or individuals are subject to capability evaluations as required, related departments of the State Council should formulate professional standards or evaluation rules recognized by institutions or associations of related sectors or professions”, as stated in the Plan of Institutional Reforms and Function Transformations Issued by the State Council. Reference is also made to the scope of business of EFMAC approved by the General Office of the State Council and the Ministry of Civil Administration, which is quoted as “assist relevant government departments in developing and implementing enterprise financial management standards and evaluation procedures”.
As quoted in Article 2 of the Procedures, namely “the Talent Pool of Enterprise Financial Management, which is jointly developed by EFMAC and the National Human Resources Flow Center of the Ministry of Human Resources and Social Security”, the National Human Resources Flow Center of the Ministry of Human Resources and Social Security is an institution of the Ministry of Human Resources and Social Security responsible for creating state standards on human resources services and developing the enterprise management talent pool.
In Article 3 of the Procedures, “investors” refer to enterprises and are equivalent to “employers” used in other places of the Procedures.
“Chairpersons of boards, managing directors” appearing in Article 4 of the Procedures refer to those having ever worked on financial management posts or experienced in financial management work are currently holding the capacity of chairpersons of boards, managing directors or other similar positions.
“Reviews by EFMAC” appearing in Article 5 of the Procedures refers to evaluations.
“Professional integrity” in Article 6 of the Procedures includes individual creditability, no fraud in accounting, no tax evasion conduct, no corruption or theft.
Five star grading is employed in the evaluation and grading of enterprise financial management talents, where one star and two star grades are primary level, three star and four star C and B belong to medium level, four star A, five star C and B are high level and five star A is the supreme level.
The numbers expressed in terms of “above XX” or “more than XX”and “below XX” or “less than XX” appearing in the Procedures all invariably include that of “XX”, for example, “more than two articles” include two articles.
“Required qualification credentials” in Article 9 of the Procedures include:
Graduates with bachelor degrees on finance and economics can be recognized as One Star B grade talents if they were awarded honours of excellent students at school level or higher levels or they ever participated, with qualified scores, in primary courses or specialized training programs approved by the Evaluation Committee. For specific course contents, please access the official website of the Enterprise Financial Management Talent Pool.
Post-graduates with master degrees on finance or economics from universities or colleges not specialized in finance and economics subjects can be awarded One Star A grade talents and Doctor degree post-graduates on finance and economics from universities or colleges not specialized in such subjects can be awarded Two Star B grade.
Those whose education and work experiences meet the criteria and conditions required of Two Star talents as described in Article 10 of the Procedures can be awarded Two Star C, if one of the following achievements is additionally made:
Those whose education and work experiences meet the criteria and conditions required of Three Star talents as described in Article 11 of the Procedures can be awarded Three Star C, if one of the following achievements is additionally made:
“Key journals” refer to key Chinese journals on finance and economics as recognized by “Key Chinese Journals Directory” of Beijing University Library, “Source Journals Directory for Chinese Social Science Citation Index” of Nanjing University and “Chinese Core Journals of Humanities and Social Sciences” of Document Information Center of Chinese Academy of Social Sciences. Those recognized by EFMAC are also deemed as key journals. For details, please see the official website of EFMAC.
Those whose education and work experiences meet the criteria and conditions required of Four Star talents as described in Article 12 of the Procedures can be awarded Four Star C, if one of the following achievements is additionally made:
Case studies prepared by applicants for grade evaluations are verified online by authorized evaluators or the Evaluation Committee through duplication check software. Case studies matching with duplicates from other sources at a rate above 20% are disqualified for evaluations. Case studies can not be used in grade evaluations until their duplication matching rate is below 20% and they have met the quality standards.
Data bases on case studies will be developed on grade basis in the Talent Pool, which can be used by talents as learning references.
In Article 14 of the Procedures, the prerequisite for becoming a Leading Talent on Five Star A is that the applicant should be a Five Star B talent. In the first and second year of implementing the Procedures (2016 and 2017) when there is no or few Five Star B talent, Five Star C talents can directly apply for Five Star A. After the two years’ time, only Five Star B talents can make Five Star A applications.
In Article 15 of the Procedures, “those involved in one of the following cases are not allowed to participate in evaluations”. However, they are allowed to take part in evaluations on the following conditions: their criminal penalties or dismissals are not caused by integrity reasons or their sentences have expired for three years or the time of their dismissal has elapsed for two years.
In Article 16 of the Procedures, “for initial reviews on applications for two star grade and higher grades, when C level requirements are not met, the next lower grade shall be given if the corresponding conditions are met.” “The corresponding conditions are met” refers to the case that if an applicant’s education and work experience meet the requirements of a certain grade, but the results of performance review do not, the applicant can only take part in evaluations of lower grades that match with the performance review results and be awarded A level of that grade. For example, if an applicant’s education and work experience meet the requirements of Three Star C grade, but the results of performance review are only up to Two Star, the applicant can only take part in evaluations for Two Star grade and be awarded Two Star A.
In case that applicants’ performances have reached C level of their currently held grades, and their educations and years of employment have reached above C level of the grades, but not up to the next higher grades:
As described in Article 17 of the Procedures, where “One Star, Two Star and Three Star talents are evaluated by evaluators authorized by the Evaluation Committee”, applicants can select evaluators, but should stick to the same once selected. For requirements and procedures for becoming authorized evaluators, refer to Authorization Procedures for the Evaluation of Enterprise Financial Management Talents.
The evaluation process includes online application, preliminary review, evaluation, public notice and award of certificates.
Evaluations on One Star, Two Star and Three Star talents are carried out by experts of selected evaluators. Evaluations on Four Star and Five Star talents are carried out by experts randomly selected by the Evaluation Committee from its expert pool.
Employer recommendations provided by applicants should bear the official seals of their employers or seals of their employers’ finance departments.
In the description that “enterprise financial management talents of different star grades are reviewed once a year” as in Article 21 of the Procedures, “a year” refers to a full year’s time starting from the preliminary review. For example, if the preliminary review is finished on May 6, 2016, it will come to a full year’s time on May 5, 2017. Two month extension is allowable, so the latest date of the next review will be July 5, 2017. The time from May 5 to July 5 is the review period. If capability scores and performance scores of an applicant are not up to the standards by the end of the review period, a failure is recorded in the year’s evaluation.
The description of “enterprise financial management talents of different star grades are reviewed once a year and promoted to higher grades once every two years, if they have successfully passed the reviews (once every 3 years for applicants of cashiers or those whose education level is on par with or below non-degree studies)” refers to the case that talents for upgrade evaluations should have 2 years’ passing records, no matter for how many years they have participated in evaluations. For cashier applicants or those whose education level is on par with or below non-degree university studies, 3 years’ passing records are required for upgrading to the next higher level. If cashier applicants’ education level is above non-degree university studies, 3 years’ passing records are also required for a grade elevation.
In Article 23 of the Procedures, “evaluation scores include two types, capability score and performance score”.The passing score for each of the two types is 30 and if any one is below 30, a failure is recorded for the year’s review. The year of failure should be excluded from the number of year counts prescribed by Article 20 of the Procedures.
Courses for capability review, as stated in Article 24 of the Procedures, include online courses and offline courses. Online courses are those available from EMFAC website, offered by training institutions and teachers, and approved by the Evaluation Committee. Offline courses are delivered on site by training institutions recognized by the Evaluation Committee.
Enterprise financial management talents can select from these approved courses according to their actual capability and performance requirements and the selected courses are recorded into their education files of the Talent Pool.
Performance scores described in Article 25 of the Procedures are comprised of general performance scores and achievement scores. The applicants’ employers give their scores and written comments on the applicants’ general performances and achievements in one-year’s work.
“If such applications are justified” as stated in Article 26 of the Procedures refers to the case that applicants are currently unemployed or they changed their jobs within the recent year or they have other justified reasons for not being able to get performance scores from their employers. The evaluation application described in this article is meant for level-elevation within a star grade.
“The Evaluation Committee will evaluate the applicants’ capability on the basis of the following information:
Evaluations for intra-grade level-elevation can be carried out according to Article 27 of the Procedures. Inter-grade elevations (for example, elevated from Two Star A to Three Star C) can be granted if applicants meet the required capability standards described in Articles of 10, 11, 12 and 13.
As in Article 28 of the Procedures, for upgrades to Five Star A, votes by talents above Three Star in the Talent Pool weight 50% on the total votes. This refers to the condition that qualified voters must be talents at grades above Three Star and the duration of voting is one month (the time of voting is announced on EFMAC website). All Five Star A applicants are shortlisted to 100 eligible for Five Star A grade according to the number of votes they have obtained.
“Consecutive fast-track applications are not allowed” as described in Article 30 of the Procedures means that there must be one regular upgrade between two time-frame fast-track upgrades. This is only limited to cases of pure time-frame fast-track upgrades. If due conditions for exceptional fast-track upgrade are met after a time-frame fast-track upgrade, an exceptional fast-track upgrade can still be granted. Conversely, after an exceptional fast-track upgrade, a time-frame fast-track upgrade can also be granted.
For fast-track upgrades as described in Article 31 of the Procedures,
Evidence or statements disproving the truthfulness of the information provided by publicized candidates, as described in Chapter 4 of the Procedures, can be reported to the Evaluation Committee through complaints call to 010-53828982.
Talents dismissed on penalty as stated in Article 37 of the Procedures are not allowed to apply for evaluations again, except in the case described in Article 16 of the Implementation Rules.
In the case that “talents shall be disqualified for grading applications and deprived of the star grades and certificates they are previously awarded” as described in Article 38 of the Procedures, those talents can still reapply for evaluations, if the deprivation arises from zero score on capability review. In this case, applicants can only apply for the next lower grades.
“Acceptable reasons” refer to foreign trips, sick leaves and other reasons causing non-participation in training programs.
The right of interpretation and revision of the Implementation Rules rests with EFMAC.