Notice On The Issue Of Foreign Exchange Settlement Or Spanfer By Some Enterprises During The Spanitional Period

Symbol: Hui Zong Fa [2008] 120

The branches of the State Administration of foreign exchange, the Ministry of foreign exchange administration of various provinces, autonomous regions and municipalities directly under the central government, and the sub branches of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo;
In July 14, 2008, the trade credit registration management system and the export collection and exchange network verification system started running respectively. After the operation of the system, due to the two systems have not yet been implemented and the amount of the initial receipts received by the system has been granted to some enterprises, the initial value of the foreign exchange quota is small or zero, resulting in the payment of the advance payment received by these enterprises after July 14th can not reach the bank in time for settlement or spanfer. In view of such problems, the registration and confirmation of the pre payment of the enterprises involved before the two system interconnection are hereby notified as follows:
First, for the enterprises that have confirmed the registration of the payment of the advance payment, the General Administration will send the registration confirmation list in advance to the sub bureaus, and send the list to the Chinese electronic port in the form of CD-ROM. The sub bureaus can notify the relevant enterprises to go to the bank for settlement or spanfer of funds by this list.
Two. For enterprises that are newly engaged in foreign trade business (Note: enterprises with no record of foreign exchange receipts before May 30, 2008), if an advance payment is received after July 14th, an enterprise can apply for registration of advance payment in advance after registration with the trade credit registration and management system, and submit the following materials:
(1) written application (with reference to the appendix);
(two) an export contract has been signed (for future export).
(three) other materials.
Where the foreign exchange bureau receives the written application from the enterprise, it shall first check the basic information of the enterprise in the enterprise foreign exchange information archive database system (if the enterprise's foreign exchange information archive database system does not have the basic information of the enterprise, it shall require the enterprise to open an account in the foreign exchange information archive database according to the relevant provisions and fill in the basic information). Secondly, in accordance with the material provided by the enterprise, the authenticity of its trade should be examined in a timely manner. On this basis, the approval items of capital account foreign exchange business shall be issued to the enterprises that meet the audit requirements, and the enterprise can handle the settlement and spanfer procedures of the advance payment funds with the approval of the bank.
Three. For enterprises that have already established foreign trade businesses (Note: enterprises with export receipts before May 30, 2008), the amount of advance payment received within the approved proportion of the foreign exchange bureau can be directly processed to the bank for settlement or spanfer of funds after the registration is made. For those who need to go beyond the approved ratio for settlement or spanfer of funds, they shall apply to the foreign exchange bureau for registration confirmation of advance payment, and submit the following materials:
(1) written application (with reference to the appendix, please specify the reasons in the remarks column).
(two) materials for export and foreign exchange settlement (including advance payment and settlement of foreign exchange) in the first 12 months of the business.
(three) an export contract has been signed (for future export).
(four) other materials.
The foreign exchange bureau of the locality shall, on the basis of timely examination of the authenticity of its trade, issue the approval of the capital account foreign exchange business to the enterprise that meets the requirements of the audit, and the enterprise can handle the settlement or spanfer procedures of the advance payment fund with the approval of the bank.
Four, after the trade credit registration management system and the Internet connection verification system for export collection and exchange are networked, the foreign exchange management department of each branch shall collect or spanfer the pre payment receipts approved by the approved foreign exchange business approval of capital items, and timely input it into the trade credit registration and management system enterprise's special pre payment payment column.
The branches and foreign exchange management departments should strictly follow the principles and requirements of short-term foreign debt management, strengthen the investigation and analysis of the operation of foreign trade enterprises within the jurisdiction, grasp the history and reality of enterprises' pre payment, and conduct scientific management of trade credit. While improving the statistics and monitoring management of trade credit, it will provide convenient services for normal trade financing and normal business operation of banks.
I hereby inform you.