This undated file photo shows the Supreme People's Court in Beijing, capital of China. (PHOTO / XINHUA)

BEIJING - China will implement the newly adjusted criminal charge targeting those engaging in irregularities for personal gain through the conversion of enterprise assets into shares at a reduced price or their sale at a low price.

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The new regulation, which is in alignment with the revised Criminal Law, will take effect from March 1, according to a supplementary provision jointly issued by the Supreme People's Court and the Supreme People's Procuratorate (SPP) on Wednesday.

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The modified criminal charge is an extension of the previous criminal charge of engaging in irregularities for personal gain by converting state-owned assets into shares at a low price or selling them at a reduced value.

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The adjustment is a result of thorough deliberations and based on the practical need to protect private enterprises, said an SPP official. The expansion of the charge's scope from state-owned enterprises to include other enterprises further fulfills the demand to equally safeguard all kinds of property rights.