Regulations On Foreign Exchange Control Of The People'S Republic Of China

The decree of the State Council of the People's Republic of China, the 532nd regulation of the People's Republic of China Foreign Exchange Management Ordinance, was amended and approved by the twentieth executive meeting of the State Council in August 1, 2008. The revised People's Republic of China foreign exchange control ordinance is hereby promulgated and implemented from the date of promulgation.

In August 5th two, August 5th, Wen Jiabao, People's Republic of China, the foreign exchange regulations of People's Republic of China (1) of the State Council of the people's Republic of China (193rd Decree No. 193rd of the State Council of the people's Republic of China, January 29, 1996) was issued according to the decision of the State Council on Amending the regulations on foreign exchange control of the State Council on 1997 14.

The second foreign exchange management departments under the State Council and their branches (hereinafter referred to as foreign exchange control organs) perform their duties of foreign exchange management according to law, and are responsible for the implementation of these regulations.

The third foreign exchange referred to in these Regulations refers to the following means of payment and assets that can be used for international settlement in foreign currency: (1) foreign currency, including banknotes and coins, and (two) foreign currency payment vouchers or payment instruments, including bills, bank deposit certificates, bank cards and so on; and (three) foreign currency securities, including bonds and stocks; and (four) special drawing rights; and (five) other foreign exchange assets.

These Regulations are applicable to fourth foreign exchange receipts and payments or foreign exchange business activities of domestic institutions and individuals within the territory, as well as foreign exchange receipts and payments or foreign exchange business activities of overseas institutions and individuals abroad.

The fifth countries do not impose restrictions on regular international payments and pfers.

Sixth countries have implemented the international balance of payments statistics declaration system.

The foreign exchange management department of the State Council shall carry out statistics and monitoring of the balance of payments, and publish the balance of payments on a regular basis.

Seventh financial institutions that operate foreign exchange businesses shall open accounts for foreign exchange in accordance with the provisions of the foreign exchange control department under the State Council and handle foreign exchange business through foreign exchange accounts.

Financial institutions operating foreign exchange businesses shall submit their foreign exchange receipts and payments and account changes to the foreign exchange control authorities according to law.

Eighth foreign currency circulation is prohibited in People's Republic of China, and no foreign currency shall be calculated and settled, unless otherwise stipulated by the state.

The foreign exchange earnings of ninth domestic institutions and individuals within the territory may be pferred back to the territory or stored abroad. The State Council's foreign exchange administration departments shall make provisions according to the balance of payments and the needs of foreign exchange management.

Tenth foreign exchange administration departments under the State Council shall hold, manage and operate the state's foreign exchange reserves according to law, and abide by the principles of safety, mobility and value added.

When the Eleventh International Balance of payments appear or may be seriously unbalanced, and when the national economy appears or may be in serious crisis, the state can take necessary measures to protect and control the balance of payments.

The second chapter, the current account foreign exchange management, the twelfth foreign exchange receipts and payments of the current account shall have a real and lawful paction basis.

Financial institutions operating foreign exchange and foreign exchange businesses shall conduct a reasonable examination of the authenticity of trading documents and their consistency with foreign exchange receipts and payments in accordance with the provisions of the foreign exchange control department under the State Council.

The foreign exchange management authority shall have the right to supervise and inspect the matters specified in the preceding paragraph.

The thirteenth foreign exchange receipts of current account can be retained or sold to financial institutions engaged in foreign exchange settlement and foreign exchange business in accordance with relevant state regulations.

Fourteenth foreign exchange expenditures for current account shall be paid in accordance with the regulations of the foreign exchange administration of the State Council on the payment of foreign exchange and foreign exchange purchase, and the purchase of foreign exchange by means of valid documents or by foreign exchange financing institutions operating foreign exchange and foreign exchange businesses.

Fifteenth quotas for carrying and declaring foreign currency in and out of the territory shall be stipulated by the foreign exchange administration department of the State Council.

The third chapter is foreign exchange management of capital account. Sixteenth foreign institutions and individuals abroad invest directly in the territory. After approval by the competent authorities, they should register with the foreign exchange control authorities.

Foreign institutions and individuals outside China engage in the issuance and trading of valuable securities or derivative products within the territory. They shall abide by the state's regulations on market access and register in accordance with the provisions of the foreign exchange control department under the State Council.

Seventeenth domestic institutions and individuals within the territory of the Republic of China shall register for overseas direct investment or engage in the issuance and trading of overseas securities and derivative products, in accordance with the provisions of the foreign exchange control department under the State Council.

If the state regulations need to be approved or filed in advance by the relevant competent authorities, approval or archival filing procedures should be carried out before the registration of foreign exchange.

Eighteenth countries impose scale management on foreign debts.

Borrowing foreign debts shall be handled in accordance with the relevant provisions of the state, and the registration of foreign debts shall be handled at the foreign exchange control organ.

The foreign exchange management department of the State Council is responsible for the statistics and monitoring of foreign debts in the whole country, and regularly announces the situation of foreign debts.

Article nineteenth provides for external guarantee, and it shall apply to the foreign exchange control organ. The foreign exchange management organ shall make a decision of approval or disapproval according to the applicant's assets and liabilities, etc. The State stipulates that the scope of its business is subject to the approval of the relevant competent authorities, and it shall go through the approval procedures before applying to the foreign exchange control organ.

After signing an external guaranty contract, the applicant shall register with the foreign exchange control authority for external guaranty.

The provisions of the preceding paragraph shall not apply to the foreign guarantee provided by the State Council for loans borrowed from foreign governments or international financial organizations through the State Council's approval.

Twentieth banking financial institutions can directly provide commercial loans to overseas banks within the approved business scope.

Other domestic institutions shall apply to the foreign exchange control authorities for providing commercial loans to foreign countries, and the foreign exchange management organs shall make decisions on whether to approve or not approve the assets and liabilities according to the applicant's assets and liabilities. If the state requires that the business scope of the foreign exchange authorities be approved by the competent departments concerned, it shall go through the approval procedures before applying to the foreign exchange control organs.

In order to provide business loans abroad, he shall register in accordance with the provisions of the foreign exchange administration department under the State Council.

The twenty-first foreign exchange receipts retained or sold to financial institutions engaged in foreign exchange settlement and foreign exchange business shall be approved by the foreign exchange administration authorities, except those approved by the state.

Twenty-second foreign exchange expenditures for capital account shall be paid in accordance with the regulations of the foreign exchange administration of the State Council on the payment of foreign exchange and the purchase of foreign exchange. The foreign exchange shall be paid by means of valid documents or purchased from foreign financial institutions engaged in foreign exchange settlement and sale.

The state regulations shall be approved by the foreign exchange administrative organ, and the approval procedures shall be processed before the payment of foreign exchange.

After the liquidation and taxation of foreign investment enterprises terminated by law according to the relevant regulations of the state, the renminbi, which is owned by foreign investors, can be remitted to the financial institutions engaged in foreign exchange settlement and foreign exchange business.

The twenty-third foreign capital and foreign exchange settlement funds of the capital account shall be used in accordance with the approved purposes of the relevant competent authorities and foreign exchange control authorities.

The foreign exchange control authority shall have the right to supervise and inspect the use of capital account foreign exchange and foreign exchange settlement and the change of accounts.

The fourth chapter, the twenty-fourth chapter of financial institutions' foreign exchange business management, the operation of foreign exchange businesses or the termination of business of foreign exchange settlement and sale and sale, shall be approved by the foreign exchange administration authorities. The operation or termination of other foreign exchange businesses shall be subject to the approval of the foreign exchange administrative organ or the financial industry supervision and administration department in accordance with the division of responsibilities.

The twenty-fifth foreign exchange administrations carry out comprehensive position management on the foreign exchange business of financial institutions, and the specific measures are formulated by the foreign exchange administration department of the State Council.

The capital and profit of the twenty-sixth financial institutions and the conversion between Renminbi and foreign currencies that need to be exchanged for foreign currency assets should be approved by the foreign exchange administration.

The fifth chapter, the RMB exchange rate and foreign exchange market management, the twenty-seventh RMB exchange rate is based on the market supply and demand, a managed floating exchange rate system.

The twenty-eighth financial institutions that operate foreign exchange settlement and foreign exchange business and other institutions that meet the conditions stipulated by the foreign exchange administration under the State Council may conduct foreign exchange pactions in the interbank foreign exchange market in accordance with the provisions of the foreign exchange control department under the State Council.

The twenty-ninth foreign exchange market pactions should abide by the principles of openness, fairness, fairness and honesty.

The currency and form of the thirtieth foreign exchange market pactions shall be stipulated by the foreign exchange administration department of the State Council.

Thirty-first foreign exchange administration departments under the State Council shall supervise and manage the foreign exchange market in accordance with the law.

Thirty-second foreign exchange administration departments under the State Council may regulate the foreign exchange market according to the changes in the foreign exchange market and the requirements of monetary policy.

第六章　監督管理　　第三十三條　外匯管理機關依法履行職責，有權采取下列措施：　　（一）對經營外匯業務的金融機構進行現場檢查；　　（二）進入涉嫌外匯違法行為發生場所調查取證；　　（三）詢問有外匯收支或者外匯經營活動的機構和個人，要求其對與被調查外匯違法事件直接有關的事項作出說明；　　（四）查閱、復制與被調查外匯違法事件直接有關的交易單證等資料；　　（五）查閱、復制被調查外匯違法事件的當事人和直接有關的單位、個人的財務會計資料及相關文件，對可能被轉移、隱匿或者毀損的文件和資料，可以予以封存；　　（六）經國務院外匯管理部門或者省級外匯管理機關負責人批準，查詢被調查外匯違法事件的當事人和直接有關的單位、個人的賬戶，但個人儲蓄存款賬戶除外；　　（七）對有證據證明已經或

Those who may pfer or concealment illegal funds or other property involved, or hide, forge or destroy important evidence, may apply to the people's court for freezing or sealing up.

The relevant units and individuals shall cooperate with the supervision and inspection of the foreign exchange control organs, truthfully explain the relevant circumstances and provide relevant documents and materials, and shall not refuse, obstruct or conceal.

Thirty-fourth foreign exchange administrations shall carry out supervision, inspection or investigation according to law, and no less than 2 persons shall be supervised, examined or investigated, and their certificates should be produced.

Those who supervise and inspect and investigate less than 2 persons or fail to produce their certificates shall be entitled to refuse the units and individuals supervised, examined and investigated.

Thirty-fifth domestic institutions with foreign exchange business activities shall submit financial and accounting reports, statistical reports, etc. according to the provisions of the foreign exchange control department under the State Council.

Thirty-sixth financial institutions operating foreign exchange businesses shall report to the foreign exchange management authorities in a timely manner if they find that they have illegal foreign exchange activities.

Thirty-seventh foreign exchange management departments of the State Council can obtain necessary information from relevant departments and agencies of the State Council in order to fulfill their responsibilities for foreign exchange management. Relevant departments and agencies of the State Council shall provide them.

The foreign exchange management department of the State Council shall inform the relevant departments and agencies of the State Council about the management of foreign exchange.

Thirty-eighth units and individuals have the right to report foreign exchange violations.

The foreign exchange management organs should confidentiality for the informants, and reward the units or individuals who have rendered meritorious service to the informants or assist in investigating and dealing with foreign exchange offenses in accordance with the regulations.

The seventh chapter, the thirty-ninth chapter of the legal responsibility, shall be pferred to the foreign exchange in violation of the relevant provisions in violation of the relevant regulations, or the pfer of domestic capital from abroad by means of deception. The foreign exchange control authority shall order the foreign exchange authorities to repatriate the foreign exchange within a specified time limit, and impose a fine of less than 30% of the amount of foreign exchange evasion. If the circumstances are serious, the penalty for the amount of foreign exchange evasion is more than 30% or more; if a crime is constituted, the criminal liability shall be investigated according to law.

Fortieth pieces of money, which are in violation of the regulations, should be paid in Renminbi by foreign exchange receipts and payments, or fraudulent purchase of foreign exchange by foreign financial institutions such as false or invalid trading documents, etc., shall be ordered by the foreign exchange management authorities to refund the illegal arbitrage funds and impose a fine of not more than 30% of the amount of illegal arbitrage. If the circumstances are serious, the amount of the illegal arbitrage amount is more than 30% or below the equivalent value; if a crime is constituted, criminal liability shall be investigated according to law.

If forty-first foreign exchange regulations are imported into the territory in violation of the regulations, the foreign exchange control authorities shall order them to make corrections, and impose a fine of not more than 30% of the illegal amount. If the circumstances are serious, they shall be fined below 30% of the illegal amount.

The foreign exchange administration shall order the illegal exchange settlement funds to be returned to the illegal exchange settlement.