To minimize the impact of the COVID-19 epidemic and maintain steady social and economic development, the Supreme People’s Court and two other ministerial-level departments have jointly issued a circular arranging for the renewal of asset freezes during the epidemic.

The two departments involved are the Ministry of Natural Resources and the China Banking and Insurance Regulatory Commission.

The circular demands that renewals of expiring property freezes should be internet-based in order to avoid gatherings of people.

Regions that are unable to handle the matter online should draw on such tools as hotlines, faxes, screenshots in WeChat and the mails to complete the renewals on time, says the circular.

The circular also demands the online renewal of the expiring freezes of deposits and wealth management products.

For financial assets unable to be frozen online, courts and financial institutions should use the same alternative methods to effect the freezes, according to the circular.