Safe Then Hit "Hot Money" &Nbsp; Six Banks Were Fined For Illegal Foreign Exchange Operations.

Overseas "hot money" inflow was hit again.

In October 28th, the state

The Department of Foreign Affairs said that since February 2010, some provinces and cities with larger volume of foreign exchange business have organized and responded.

The safe said that some banks were heavily engaged in business development, but not in compliance with the regulations. They did not strictly fulfill the obligation of authenticity audit in the business of foreign exchange settlement and sale, so that the "hot money" could take advantage of it, which would affect the balance of payments and the healthy and stable development of economy and finance.

In the bulletin of the safe, the four major agricultural and industrial construction companies were listed on the list. In addition, two Norway Deutsche Bank and Hongkong East Asia bank were two overseas banks, which dealt with foreign exchange settlement, short-term foreign debt, offshore finance, foreign exchange capital sources and operation.

In the late afternoon of the announcement of the announcement by the safe, the head of the Bank of China said that the two local branches found in the foreign exchange inspection were irregularities in the settlement of foreign exchange business, which had been quickly verified and corrected immediately.

The safe said that the Ningbo branch of the Bank of China's Zhenhai Branch handled foreign exchange debt of 13 million 580 thousand dollars for a company in 2007 and 2008. The purpose of settlement was inconsistent with the approved use, and the foreign exchange fund was not paid directly to the recipient within the prescribed time limit, which violated the relevant provisions of the foreign exchange settlement management. The Xining ancient town branch branch handled 85 million 300 thousand capital and 28 million 200 thousand HK dollars for a foreign invested enterprise in 2009, and the foreign exchange settlement fund was used for capital investment, which exceeded the scope of the company's business and violated the relevant provisions on capital settlement.

"(two sub branches) failed to strictly fulfill the obligation of authenticity audit when handling the business of foreign exchange settlement under the capital account for individual enterprises.

These problems show that individual grass-roots organizations have not understood and grasped the foreign exchange business policy, and the information communication is not enough when dealing with the related business. "

Bank of China relevant responsible person said.

In addition, the safe also found out that in 2007, the Jiangmen branch of CCB handled a capital settlement of 31 million 500 thousand Hong Kong dollars for a foreign invested enterprise. The purpose of settlement of foreign exchange funds was to purchase land deposits, which was actually a loan to the Management Committee of a Hi-Tech Industrial Development Zone and violated the relevant provisions on capital settlement.

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In 2009, the Chengdu Guanghua sub branch of the Agricultural Bank of China handled cross border foreign exchange business for 28 individuals. 20 of them and 8 of them collected money from the same payer outside the country and pferred to a certain domestic person immediately after receiving the foreign exchange. They were pferred to a certain domestic person. They were in violation of the relevant regulations on personal foreign exchange management. 2008 to 2009, the Yichun branch of the Agricultural Bank of China handled 35 capital pactions of foreign invested enterprises, which totaled more than 100 million yuan, and did not strictly examine or retain certificates of foreign exchange in accordance with the law.

In 2009, the Fujian branch of ICBC, the Taijiang branch of the Ministry of Commerce, did not comply with the regulations to handle the personal settlement and sale business through the personal selling and selling management information system, involving 42 pens. The amount was equivalent to 265 thousand US dollars. Under the jurisdiction of the drum tower sub branch and other institutions, the company failed to handle the business of deferred payment in accordance with the regulations, totaling 3, and the amount was equivalent to 2 million 940 thousand US dollars.

In the case of offshore banks, the Shanghai branch of the German Deutsche Bank, Germany, handles the import business of letters of credit for a number of Chinese funded banks, but without the notification of the issuing bank of China, all the claims of the Chinese banks will be pferred to their overseas branches.

The announcement by the safe indicates the determination to fight the "hot money".

China's foreign exchange reserves increased by US $194 billion in the three quarter of this year, a record high in a single quarter.

The outside world therefore speculated that under the expectation of RMB appreciation, "hot money" began to pour into the country again.

The safe also said that in order to strengthen the awareness of banks and enterprises' compliance management, warn and educate the violating subjects, and create a social force to crack down on "hot money", the foreign exchange bureau will announce the foreign exchange violation cases according to the main body types in stages.