PRC foreign exchange control regulations

January 29, 1996 issued by the PRC State Council Order No. 193, January 14, 1997 in accordance with the "State Council on the revision of the" People's Republic of the Exchange Control Regulations "decision" to amend
I found
Article 1 In order to strengthen management of foreign exchange and maintain the international balance of payments, promote the healthy development of the national economy.
2 The enactment of this Ordinance.
Foreign exchange management and its two branches of the State Council (hereinafter collectively referred to foreign exchange management authority), under
Exchange Management Act discharge duties for the implementation of this Ordinance.
Article 3 of this Ordinance alleged Exchange refers to the following in foreign currencies can be used to pay off international
Means and assets :
(i) foreign currency, including banknotes, seigniorage ;
(2) foreign currency payment instruments, including bills, bank deposits receipts, postal savings instruments as ;
(3) foreign currency securities, including government bonds, corporate bonds, stocks and other ;
(4) SDR, ECU ;
(5) Other foreign exchange assets.
Article 4 of agencies, individuals, institutions located in China, China's foreign exchange balance, or operating personnel,
Application of the regulations.
Article 5 countries to regular international payments and transfers no restrictions.
Six countries, the balance of payments statistics reporting system. Where the activities of the unit and the balance of payments of
, the importance of international payments statistical report.
Article 7 in the People's Republic of China, the prohibition of foreign currency circulation, not to the settlement of foreign currency valuation.
8, all units and individuals have the right to report and expose violations of foreign exchange management practices and activities.
To prosecute, or assist in exposing violations of foreign exchange management and meritorious cases units and individuals from the Exchange
Regulatory bodies will be awarded. And for confidentiality.
Chapter II regular item Exchange
9 Institutions regular item of foreign exchange earnings to be transferred, subject to the relevant state regulations
Exchange without authorization will be deposited in offshore.
Article 10 of the institutions regular item of foreign exchange earnings, in accordance with the State Council on the Settlement, and
Shouhui Payment sold to designated foreign exchange banks under the management of, or approved in the designated foreign exchange banks opened accounts
Exchange Households.
11 Institutions regular item in the Meeting, in accordance with the State Council on the Settlement, and pay
Shouhui Exchange management, and business documents with valid documents to the designated foreign exchange banks bonuses paid.
Article 12 of the export and import customs agencies should follow the state on the export of nuclear
Sales management and import customs formalities bad bad management stipulations.
13, belonging to all individuals of foreign exchange, can hold their own, or can be deposited in the bank sold
Designated foreign exchange banks.
Personal foreign exchange savings deposits, the deposits voluntary, withdrawals free, interest is paid on deposits, and accounts are kept secret
Principle.
14th Meeting of the individual business in the provision limits purchases. Exceeded the limit of individual private
Using Exchange, should submit applications to the management of foreign exchange, foreign exchange control authorities that the application is true, it may
To bonuses.
Individuals carrying foreign exchange into the country, should be declared to Customs processing procedures; Carrying foreign exchange overseas, more than conventional
There will be a limit should also produce valid documents to the Customs.
Article 15 individuals from offshore, the revenue generated by the assets in its territory, provided that a thin
Liu and effective vouchers to the designated foreign exchange **** or carrying out bonuses.
Article 16 Chinese citizens residing in the territory of a foreign currency payment instruments, such as foreign currency portfolio is
Type of foreign exchange assets, the foreign exchange regulatory body without approval or may not carry mailing exit.
Article 17 personnel stationed in China and to the legitimate revenue needs money abroad, can
With the documentary evidence to the designated foreign exchange banks and money.
18, and to personnel stationed in China to the outside agencies or bring entry into the Exchange can
Self-preservation, may be deposited in a bank or sell foreign exchange designated banks may have valid documents or money
Was carrying out.
III Exchange
capital projects
Article 19 of the capital projects of foreign exchange earnings agencies, the State Council decides otherwise, be transferred
Territory.
20 Institutions in the capital projects of foreign exchange earnings, in accordance with relevant state regulations in exchange means
Exchange Bank accounts will be opened; Sold to the designated foreign exchange banks, subject to foreign exchange control authorities for approval.
Article 21. Institutions to outside investment, to the competent authorities for approval prior to the foreign exchange management
Exchange bodies to review their funding sources; Upon approval, in accordance with the State Council on the management of foreign exchange investment
Provisions for the funds transfer procedures.
Article 22 borrowing foreign loans, the government department established by the State Council, State Department Exchange Management Department
Gate approved financial institutions and enterprises in accordance with the relevant state regulations.
Foreign-invested enterprises borrowing foreign loans, foreign exchange regulatory body should be reported for the record.
Article 23 financial institutions in offshore bonds issued in foreign currency, foreign exchange management to the State Council approved
Associate, and in accordance with relevant state regulations.
Article 24 provides external security, can only be consistent with national conditions provides financial institutions and enterprises running
For, and is subject to foreign exchange control authorities for approval.
Article 25 countries on the introduction of a registration system for foreign debt.
Institutions should be in accordance with the provisions of the State Council on the external debt statistics for monitoring external debt registration.
State Department responsible for the country's foreign exchange management and monitoring of external debt statistics, and publishing external debt situation.
26, to terminate the foreign-invested enterprises, according to the relevant provisions of the settlement, tax
, all belonging to foreign investors renminbi, to the designated foreign exchange banks can derive money or carry
Exit; Chinese investors are all foreign exchange should be sold to all designated foreign exchange banks.
Chapter IV financial institutions foreign exchange business
27, financial institutions subject to foreign exchange businesses of foreign exchange regulatory body approval, a foreign exchange
Business permits.
Without exchange control organs for approval, no unit or individual may operate foreign exchange business. Approved operating Foreign exchange business of financial institutions, foreign exchange businesses can not exceed the approved scope.
28 foreign exchange businesses, financial institutions should be in accordance with relevant state regulations for the opening, customers Exchange accounts for the exchange business. Foreign exchange businesses, financial institutions, 29, should be deposited in accordance with the relevant provisions of national foreign exchange deposits
Reserve assets to liabilities ratio of foreign exchange management, and to establish reserve accounts.
Article 30 designated foreign exchange banks for the operations of the Settlement funds should use their own capital Payment.
Designated foreign exchange banks clearing turnover Exchange, the ratio of management, specific ranges from the Chinese people
Bank approved on the basis of the actual situation.
Article 31 of the foreign exchange business of financial institutions, foreign exchange regulatory body should accept inspection, monitoring
Governor.
Foreign exchange businesses of the financial institution should submit to the foreign exchange control authorities Exchange balance sheet, profit and loss
Table and other financial and accounting statements and information.
32, the termination of financial institutions foreign exchange businesses should apply to the foreign exchange control authorities.
Financial institutions approved the termination of the foreign exchange businesses, the Exchange shall conduct claims, debt- Count, and foreign exchange businesses belonging permits.
V RMB exchange rate and foreign exchange markets
Article 33 applied to the RMB exchange rate based on market supply and demand, a single, managed floating
Exchange rate system.
According to the People's Bank of interbank exchange market prices published on the major currencies
Exchange rate.
34, the foreign exchange market transactions should follow an open, fair, impartial and trustworthy principle.
35 traded currencies, the foreign exchange market by the State Council and the form of foreign exchange management regulations and the transfer
Whole.
Article 36 designated foreign exchange banks and other financial institutions of the foreign exchange businesses are interbank exchange City
Market transactions.
Designated foreign exchange banks and other financial institutions of the foreign exchange businesses, should be based on the People's Bank of
Cloth under the floating exchange rates and scope of the identification of customers exchange trading prices for foreign exchange trading industry
Works.
37, the State Council to oversee the management of the national foreign exchange management of the foreign exchange market.
38, the People's Bank based on the requirements of monetary policy and exchange market changes, according to
Exchange market regulation.
6 Chapter
Article 39 The following acts evading foreign currency from foreign exchange control authorities ordered a return Exchange,
Compulsory its receipt, the amount of fine evading foreign currency more than five times the 30% penalty; Constitute criminal offenses
Criminally prosecuted :
(a) in violation of state regulations, the Exchange will be stored in unauthorized outside ;
(b) In accordance with state regulations will not be sold to designated foreign exchange banks ;
Exchange (3) foreign exchange remittances will be in violation of state regulations or carrying out the ;
(4) without a foreign exchange regulatory body approval, the unauthorized conversion of foreign currency deposits receipts, foreign currency securities carrying
Or mailing exit ;
(5) Other evading foreign currency.
40, one of the following illegal foreign exchange control act, will be given a warning by the foreign exchange control authorities, compulsory collection
Dollar, illegal foreign exchange control fine three times the amount of 30% or more of the following penalties; Constitute criminal offenses chasing
This criminal responsibility :
(a) in violation of state regulations for the payment or reimbursement should be in kind paid to the Exchange into
Hau purchase price or other similar expenditures ;
(2) to pay for others in the territory of the cost paid by other foreign exchange ;
(3) foreign exchange regulatory body without the approval of outside investors or to the territory of shopping in
Territory approved ;
(4) the use of false or invalid documents, contracts, invoices, letters to the designated foreign exchange banks Exchange
The ;
(v) other illegal foreign exchange control act.
Article 41 The foreign exchange regulatory body without the approval of the foreign exchange businesses without authorization from the foreign exchange management plane
Guan confiscation of proceeds and banned; Shall be prosecuted for their criminal liabilities.
Unauthorized foreign exchange business of financial institutions beyond the scope of approval of the foreign exchange businesses, from the Exchange of
Be corrected for organs,, confiscate their illegal incomes, and from one fine and five times
The following fines; No illegal income, the 500,000 yuan to 10 million yuan fine; Serious
Late or not corrected by the foreign exchange control authorities ordered rectification or revocation of operating permits among business
Cards; Shall be prosecuted for their criminal liabilities.
42 designated foreign exchange banks are not in accordance with national regulations Settlement, Shouhui business by the Exchange
Regulatory body shall order them to mend their ways, informed criticism, the confiscation of illegal income, 10 million 500 thousand yuan fine following
Fines; In severe cases, cease its handling Settlement, Shouhui operations.
43 foreign exchange businesses, financial institutions management of the renminbi exchange rate, foreign exchange deposits and loans for
Exchange rate management or transaction management market by foreign exchange control authorities ordered corrections informed criticism,
Violation of the confiscated illegal income, and proceeds one fine and five times the fines; No illegally
France obtained, the Office of 10 million 500 thousand yuan fine; In severe cases, the foreign exchange control authorities
Foreign exchange businesses ordered rectification or revocation of permits.
44, a body of one of the following acts in violation of the external debt management by the foreign exchange control authorities to
I warned that informed criticism, more than 500,000 yuan fine below 100,000 yuan fine; Constitute criminal offenses
Criminally prosecuted :
(a) without external borrowing for the ;
(2) contrary to state regulations, the issuance of foreign currency bonds abroad without authorization ;
(3) violation of state regulations, without providing external security ;
(4) other acts in violation of external debt management.
45, following the illegal use of domestic institutions Exchange acts by the foreign exchange control authorities for
Make corrections forced its receipt, confiscated illegal income, the amount of foreign exchange equivalent of the fine and penalty; Structure
A crime, to be held criminally responsible :
(a) foreign currency in the valuation of the settlement ;
(b) Exchange without authorization to make the pledge ;
(c) changes in foreign exchange without the use ;
(4) other illegal use of foreign exchange.
46, without trading foreign exchange, foreign exchange trading or buying foreign exchange in the foreign exchange control
For organs to give warning of its receipt of mandatory confiscation of illegal income, foreign exchange and monetary fine 30%
Three times more than the fine; Shall be prosecuted for their criminal liabilities.
47 institutions in violation of regulations on the management of foreign exchange account without authorization in the territory, the opening of foreign exchange outside
Account, loan, string used, the transfer of foreign exchange accounts, or the unauthorized use of the foreign exchange accounts change
, the foreign exchange control authorities ordered corrected to remove foreign exchange accounts, informed criticism, more than 50,000 yuan fine 30
Million following a fine.
Article 48 of the Exchange Institutions bad management, forged, altered, loan, transfer or
Persons reuse and bad documents, or not provided for the cancellation procedures, the management of foreign exchange
Authorities will issue a warning, informed criticism, the confiscation of illegal income, more than 300,000 yuan fine below 50,000 yuan fine
1; Shall be prosecuted for their criminal liabilities.
49, the foreign exchange businesses, financial institutions that violate the Ordinance 29, Article 31
Provided by the foreign exchange control authorities ordered corrections informed criticism, more than 300,000 yuan fine below 50,000 yuan
Fine.
Article 50 of the Exchange client unconvinced by the decision of the regulatory body punishment, punishment can be decided after receiving the
15 days of the date of the notice upward level foreign exchange control authorities for reconsideration; Higher foreign exchange control authorities
Should review applications received since the date of two months to review the decision. Parties to review the decision not
Clothing, according to the people's court to initiate proceedings.
Institutions in violation of Article 51 of the Exchange regulations, except in accordance with the regulations for punishment, to
Directly responsible and other personnel who are directly responsible and should be given disciplinary action; Constitute a crime
, is to be held criminally responsible.
Chapter 7 is the
52 of the Ordinance meaning of the following terms :
(1) "Institutions" means the People's Republic of the enterprises and institutions, national aircraft
Guan, social organizations, military units, including foreign-invested enterprises.
(b) "designated foreign exchange banks" refers to the foreign exchange control authorities to operate approved the Settlement and operational
Shouhui Bank.
(c) "individual" means the People's Republic of China citizens in the territory of residence and one year of foreign
.
(4) "located in China bodies" means foreign diplomatic institutions, consular institutions, international organizations stationed in China generation
Table agencies, foreign commercial agencies and foreign non-governmental organizations stationed in China operational agencies.
(5) "to staff" means the permanent personnel stationed in China bodies, short-term entry of foreigners, recruited
In the territory of foreigners and foreign organizations working students.
(6) "recurrent items" refers to the balance of payments, recurring transactions, including trade-
Support, services and unilateral transfers.
(7) "capital projects" refers to the balance of payments as a result of the importation of capital and assets and the resulting negative
Debts or projects, including direct investment, various loans and securities investments.
53 of the bonded area of foreign exchange management, foreign exchange management by the State Council enacted separately.
54 inhabitants of border trade and the foreign exchange market management, foreign exchange management by the State Council
According to the principles set forth in this Ordinance enacted separately.
55 of the Ordinance since April 1, 1996 1997. December 18, 1980 issued by the State Council
"The PRC foreign exchange management provisional rules" and its associated rules are abolished at the same time