Selling off the company's property without permission violates the Regulations of the Communist Party of China (CPC) Municipality on Disciplinary Actions.

Party and state functionaries or persons entrusted with the management and operation of state-owned property embezzle, steal, defraud or otherwise illegally occupy public property by taking advantage of their positions. If the circumstances are minor, give a warning or a serious warning.

If the circumstances are serious, he shall be dismissed from his post within the Party or be placed on probation; If the circumstances are serious, he shall be expelled from the party.

Those who misappropriate party dues, social security funds and funds for disaster relief, emergency rescue, flood control, special care, poverty alleviation, immigration, relief and epidemic prevention shall be given a heavier or heavier punishment in accordance with the provisions of the preceding paragraph until they are expelled from the party.