Safe: Bank Trade Financing And Foreign Exchange Management Need To Be Improved

< p > the main contents of the notice include: first, supervise and urge the bank to perfect < a href= "http://www.91se91.com/news/index_c.asp" > trade financing > /a > authenticity and compliance auditing.

Banks should follow the principle of "understanding your customers", strengthen the examination of the authenticity and compliance of trade financing, especially long-term trade financing, actively support the real trade financing needs of the real economy, and prevent the enterprises from taking advantage of the fictitious trade background to acquire bank financing.

Banks should strengthen internal control supervision, report suspicious pactions in time, strictly prohibit flexible implementation or help circumvent foreign exchange management regulations.

The foreign exchange bureau increased the monitoring of the authenticity and compliance of bank trade financing, assessed the due diligence of bank pactions, and implemented on-site verification or inspection when necessary.

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< p > two is to strengthen the classified management of enterprises and create a fair and orderly market environment.

It is emphasized that the foreign exchange receipts and payments of enterprises should have a real legal paction basis.

The foreign exchange bureau increased the monitoring and verification strength of enterprises with abnormal balance of trade, especially the abnormal growth of long-term trade financing and the typical arbitrage trading enterprises, and classified management according to the relevant provisions of foreign trade management of goods trade, giving the greatest convenience to law-abiding enterprises, and giving priority to the supervision of enterprises classified as B or C.

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< p > three is to increase penalties for violations committed by banks and enterprises.

If the bank fails to fulfill its duty of examination, the foreign exchange bureau will make a risk warning or punish it in accordance with the relevant provisions.

In accordance with relevant laws and regulations, the foreign exchange bureaus shall distinguish between different situations in accordance with the relevant laws and regulations, and separately punish the illegal inflow of foreign exchange, illegal settlement of foreign exchange, illegal arbitrage or evasion of foreign exchange.

If a bank or business related act constitutes a crime, it shall be investigated for criminal responsibility according to law.

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< p > data released by the central bank recently showed that the balance of foreign exchange accounted for 449 billion 500 million yuan at the end of 10, a href= "http://www.91se91.com/news/index_f.asp", "central bank" and "/a", which increased by 449 billion 500 million yuan since the end of January 2008.

Analysts believe that the United States failed to withdraw from quantitative easing policy such as market expectations, continued appreciation of the renminbi, and the introduction of China's reform policy, all of which prompted cross-border capital to enter the country again.

Under the premise of capital control in China, the purpose of the foreign exchange bureau is to crack down on abnormal foreign exchange funds entered into by way of trade.

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< p > < strong > notice: /strong < < /p >

< p > "Notice of the State Administration of foreign exchange on improving the foreign exchange management of banking trade financing" < /p >

< p > the branches of the State Administration of foreign exchange, the departments of foreign exchange administration, the branches of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo, and the designated foreign exchange banks of Chinese capital: < /p >

< p > to increase the financial support for the real economy, support the normal operation of law-abiding compliance companies and guard against the risks of foreign exchange receipts and payments, we hereby notify the following issues concerning Improving the foreign exchange management of banking trade financing: < /p >

< p > < strong > 1. The trade balance of enterprises should be true and lawful < /strong > < /p >.

< p > business receipts and payments (including entrepot trade, the same below) should have a real and lawful basis for import and export or production and business pactions. It is not necessary to fabricate trade background by using bank a href= "http://cailiao.sjfzxm.com/" > credit < /a > to handle cross-border revenue and expenditure business.

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< p > < strong > two, the bank should improve the authenticity of trade finance and compliance review < /strong > < /p >

< p > banks should follow the principle of "understanding your customers", effectively fulfill the authenticity of trade financing, compliance audit responsibilities, actively support the real trade financing needs of the real economy, and prevent enterprises from taking advantage of the fictitious trade background to acquire bank financing.

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< p > (1) if an enterprise applies to a bank to handle the trade financing business under the cross border paction by letter of credit and collection, the bank shall confirm the authenticity and compliance of the relevant trade background according to the production and operation, financial status, products and markets, and verify whether the trade financing amount and the time limit match the corresponding trade background.

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< p > (two) for long-term (90 days or more, including spot business extension or other trade financing cumulative period of more than 90 days, excluding 90 days, the same below) trade financing business, regardless of whether banks charge full or high margin deposit (stock market trading point), as long as there is one of the following circumstances, banks should increase the intensity of review based on the understanding of their customers. If there is doubt about the authenticity and compliance of the business, banks should require the enterprises to provide paction related contracts and original certificate of title, so as to effectively screen the financing bank of fictitious trade background.

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< p > 1.

The financing business has the characteristics of high frequency, large scale, relatively concentrated counterparties, or more prominent mismatches between foreign exchange and RMB in the balance of payments, and < < /p > >

< p > 2.

< a href= "http://www.91se91.com/news/index_p.asp > > financing > /a > corresponding commodities have (but are not limited to) their own high value or high added value of production, small size, easy to pport, or easy to standardize storage and storage; < /p >

< p > 3.

Foreign trade activities are carried out in the form of re export trade, resale (import and export of goods through customs special supervision areas) and other forms.

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< p > (three) banks should strengthen the due diligence of trade financing authenticity and compliance, formulate relevant risks, guard against internal control system, improve the initiative and sensitivity of identifying suspicious pactions, strengthen supervision and guidance to the branches and branches of the banking business, strictly prohibit the phenomenon of loosening the examination requirements and even assisting customers in circumvention of foreign exchange management regulations in order to complete the assessment indicators at the grass-roots level.

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< p > (four) when a bank finds that an enterprise is involved in Item (two) of this article and has suspicious pactions, it shall report to the branch of the State Administration of foreign exchange (hereinafter referred to as the foreign exchange bureau) in a timely manner, and actively cooperate with the foreign exchange bureau to take measures to prevent the abnormal cross-border capital inflow.

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< p > < strong > three, improving the classification and management of foreign exchange and receipts and payments in enterprises' trade < /strong > < /p >

If there is a serious mismatch between capital flow and goods logistics, or larger scale and rapid growth of the trade return, a larger scale of long-term trade financing and a typical characteristic of cross border financing arbitrage pactions, the foreign exchange bureau will send a risk warning letter to p to require that it explain the situation within 10 working days.

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< p > If an enterprise fails to explain the situation in a timely manner or fails to make reasonable explanations, the foreign exchange bureau shall be classified as B according to the provisions of the fifty-fifth rules for the implementation of the guidelines on foreign exchange management of trade in goods (issued by the remittance [2012]38 document); if the circumstances are serious, it shall be classified as C and strictly supervised.

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< p > enterprises are classified as B according to the above provisions and comply with the relevant indicators for 3 consecutive months, such as normal conditions. The foreign exchange bureau will restore them to category A; if it fails to meet the requirements for restoring class A, it will extend the classified supervision period for 3 months; the 6 month supervision period still does not meet the requirements for restoring class A, depending on the seriousness of the case, it will continue to extend the classified supervision period for 1 years, or turn B into C class, with a period of 1 years of supervision.

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< p > < strong > four, strengthening the monitoring and verifying of the authenticity and compliance of the trade financing of banks < /strong > < /p >

< p > foreign exchange bureau should strengthen the monitoring of the authenticity and compliance of bank trade financing.

For a long term trade financing business which accounts for a relatively high proportion and provides trade financing services to enterprises suspected of forging cross-border trade arbitrage, the foreign exchange bureau can spot a certain percentage of banking information and assess the bank's due diligence for the authenticity and compliance of the paction.

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If the bank fails or fails to accept the spot check or inspection of the foreign exchange bureau, or finds that the bank fails to fulfill its duties when conducting trade financing business for the enterprise in the course of spot checks and spot checks and inspections, the foreign exchange bureau may make a risk warning to the bank, or punish it in accordance with the regulations on foreign exchange control and other regulations. P

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< p > < strong > five, increasing the punishment intensity < /strong > < /p >.

< p > if banks or enterprises violate the provisions of this circular, the foreign exchange bureaus shall be punished in accordance with the regulations on foreign exchange control and other regulations.

By forgery, alteration of vouchers and commercial documents or repeated use of vouchers and commercial documents to engage in false trade, the foreign exchange shall be remitted into the territory of China for illegal purposes; qualitative punishment shall be imposed on illegal foreign exchange settlement; the foreign exchange shall be punished qualitatively by illegal arbitrage; if the foreign exchange is remitted abroad, the foreign exchange shall be punished qualitatively; if a crime is constituted, the criminal liability shall be investigated according to law.

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< p > this notice shall be implemented from the date of issuance.

Upon receipt of this circular, the branches and foreign exchange management departments of the State Administration of foreign exchange shall pmit the central sub branches, sub branches, urban commercial banks, rural commercial banks, wholly foreign-owned banks, Sino foreign joint venture banks, foreign bank branches and rural cooperative financial institutions as soon as possible.

After receiving this notice, all Chinese funded foreign exchange designated banks should pmit their branches as soon as possible.

If there are any problems in implementation, please timely feedback to the State Administration of foreign exchange.

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< p > contact number: 010-68402450.

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< p > notice.

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< p > State Administration of foreign exchange < /p >