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Member Bio

Chengjun Wang PhD, ASA

 

Email: chengjun_wang@hotmail.com

Contact Information:
R708, Tonggang Building, No.2, Hua Yuan Bei Jie,
Xicheng District, Beijing, 100032
China
View address on a map

86 (10) 1066155200


Appraiser Profile:

Chengjun Wang Ph.D,

FRICS ASACPV(Certified Public Valuer), FCPV, , CPA, Senior Accountant

 

Mr. Chengjun Wang is the Chairman and General Manager of the ZTHP International Appraisal, a multidiscipline professional valuation and consulting company based in Beijing.

 

As a fellow member of China Appraisal Society(CAS), Mr. Wang has been active in Chinese valuation and consulting profession since 1991when the valuation profession was introduced into China. In the past 17 years, Mr. Wang has gained working experiences and reputation in various fields, including the government agency supervising valuation practice, professional valuation society and valuation company, dule diligence and consulting services.

 

Before joining ZTHP International Appraisal, Mr. Wang had served in various positions in the Ministry of Finance, National Administrative  Bureau of State Owned Property, Chinese Institute of CPAs and China Appraisal Society.

 

Mr. Wang was granted fellowship by Royal Institute of Charted Surveyors  (RICS) in 2009. He is the first Business Valuer in China to get the designation of FRICS.

 

Mr. Wang was granted as Accredited Senior Appraisal (ASA) by American Society of Appraisers in 2008.

 

Working experience

1991-1998, Staff and vice director, Appraisal Administrative Center, National Administrative Bureau of State Owned Property. Mr. Wang was responsible for issuing valuation certificate to valuers and valuation companies, reviewing valuation reports and drafting valuation regulations.

1998-2000, Vice director, International Department, China Appraisal Society, Ministry of Finance. Mr. Wang was responsible for international professional exchange in valuation sector, during which he was appointed as the deputy representative to International Valuation Standards Committee.

 2000-2004, Director, International Department, Professional Standards Department, Chinese Institute of CPAs. Mr. Wang was responsible for international professional exchange both in auditing and valuation sector, drafting auditing standards and valuation standards. He was elected as the member of Standard Board of International Valuation Standards Committee and was active in cooperating with valuers in various countries.

2004-2007, Director, Professional Standards Department, China Appraisal Society. He was appointed as the vice director of Chinese Valuation Standards Subcommittee, leading the subcommittee to drafting Chinese Valuation Standards.

2007--2009, Chairman and General Manager, Deve-China International Appraisal. Mr. Wang paid a working visit to US. to study American valuation practice and valuation for financial purpose.

2009--, Chairman and General Manager, ZYHP International Appraisal.

 

Practicing Experience

Valuation for fairness opinion, Golden GreenEnterprises Limited, merged with China Opportunity Acquisition Corp

Valuation for the merger of Shanghai Automobile Company and Nanjing Automobile Company, including valuation the MG and Rover property in UK.

Valuation for the joint venture between First Automobile Company and General Motor.

Valuation for Sino-Chem for PE investment and reviewing.

Valuation for Aluminum Corporation of China Limited and Cinda Company.

Valuation for SAIF Partners.

Valuation for China State Construction Engineering Corpfor IPO and accounting purpose.

Valuation for China Huaneng Group.

。。。。。。

As the expert appointed by the Ministry of Finance, the Chinese Security Regulatory Committee, the State Council Administrative Commission of State Owned Assets, reviewed the valuation report of Bank of China, Industrial and Commercial Bank of China, China Mobile, China Oil, Bank of Community, Bank of Construction, etc.

 

EDUCATION

Doctor of Economy, Zhong Nan University of Finance and Economy, China

Master of Business Administration, Tsing Hua University, China

Bachelor of Arts in International Law, Jilin University, China

 

PROFESSIONAL AFFILIATIONS

Currently, Dr. Wang is serving as the member of Chinese Valuation Standards Board; Vice Chairman of Business Valuation Committee, CAS; Vice Chairman of Valuation and Accounting Committee, CAS. He was elected as the member of Standard Board of International Valuation Standards Committee, 2001-2008.

 He was recently awarded ASA (ARM) designation from American Society of Appraisers in August, 2008.

He will be granted FRICS by RICS this year after approval from headquarter of RICS.

 

Mr. Wang was appointed as the member of Reconstruction and M&A Review Committee, CSRC(中国证监会重大重组审核委员会)in 2004, which is the governing body for M&A issues in stack market.

 

Currently, Mr. Wang is serving as the member of Chinese Valuation Standards Board.

He was elected as the member of Standard Board of International Valuation Standards Committee 2001—2008, the only one valuer representing China..

Mr. Wang got ASA(ARM) designation from American Society of Appraisers in August, 2008. This is designation given to multi-disciplinary valuers with experience in various valuation disciplines, appraisal management and reviews.

Mr. Wang is also honored as the first Business valuer in China to get FRICS from RICS. The nomination has been approved by Chinese Board of RICS and the designation is supposed to be granted within 2 months after approval from headquarter of RICS.

 

PUBLICATIONS

Dr. Wang drafted major China Valuation Standards including Assets Appraisal Standards – Intangible Assets, 2001; Business Enterprise Valuation Guideline, 2004. He authored/coauthored several books: Elaboration on Business Enterprise Valuation Guideline, Elaboration on Intangible Assets Valuation Standards, Basic principles on Assets Valuation and Assets Valuation professional ethical standards, and Assets Valuation (coauthor of “China’s Certified Public Valuer Text Book”). His translation contributions mainly are Uniform Standards of Professional Appraisal Practice and International Valuation Standards, Chinese Edition. He is also a frequent speaker at both China and international business valuation conferences.

 

Professional Achievement     

Translate Uniform Standards of Professional Appraisal Practice into Chinese, published by Economy and Science Press with permission from AF in 1998.

Translate International Valuation Standard into Chinese, published by Finance and Economy Press in 1999.

As the vice director of Chinese Valuation Standards Subcommittee, Mr. Wang led the standard subcommittee to draft and enact several important valuation standards, including Business Valuation Standard, Intangible Valuation Standard. Mr. Wang is also the co-writer of several valuation textbooks, including Guidance to Intangible Assets Valuation Standards, published by Economy and Science Press and Guide to Business Valuation Standards, published by Economy and Science Press.

The Chinese Business Valuation Standards is the first business valuation standards in China, which changed Chinese valuation practice a lot by introducing many new concepts such as minority discount, majority premium.

Mr. Wang is also the major instructor to teach valuers of CAS.

Mr. Wang have been the reviewer for many government agencies for many years to help them review the valuation reports prepared by independent valuers.

 


Relative researches and working experience on Business Valuation

A) Drafting Valuation Standards for the Appraisal Industry in China

1) “Business Enterprise Valuation Guideline 2004”

The first standard for business enterprise valuation in China. Appraisal firms used to use replacement cost approach in appraising business enterprise value. This guideline sets clear standards requiring appraiser to, when appraising company with going-concern, use more than just replacement cost approach. At the same time, factors like control premium and minority discount have to be considered.

2) Assets Appraisal Standards – Intangible Assets 2001

 

B) Author / Co-author for the following articles

“Elaboration on Business Enterprise Valuation Guideline”, 7000 copies issued

“Elaboration on Intangible Assets Valuation Standards”, 4000 copies issued

“Basic principles on Assets Valuation and Assets Valuation professional ethical standards”, 8000 copies issued

“Assets Valuation”, one of the authors of “China’s certified public valuer text book”

 

Translation Work

“Uniform Standards of Professional Appraisal Practice” Chinese Edition

“International Appraisal Standards” Chinese Edition

 

Over 40 Articles Published on Magazine and Newspapers, including

“Discussion on Market values in Assets Valuation” 

“Valuation for Trademark and Trade Name”

 

Project examination and verification

Member of China Securities Regulatory Commission’s reform committee

Audit specialist of the China’s state-owned assets management committee

Audit specialist of the Ministry of Finance of PRC

As representative of the Ministry of Finance, State-owned assets supervision and administration commission of the state council and China securities regulatory commission to participate in a number of audit work for large-scale enterprise valuation projects. These include the Bank of China, Industrial and commercial bank of China, Bank of communications, China Mobile, China Unicom, China petroleum and chemical corporation, China national petroleum corporation and etc.

 

Speech and Lecture

Delivered over 20 lectures on Business Valuation Guideline from China Appraisal Society.

 

A speech delivered in the annual conference of American Society of Appraisers in New York, in July, 2006.

 

A speech delivered in 2006 China Appraisal Forum on “Business Enterprise Valuation---international development and practice in China”.