中华人民共和国外汇管理条例 Regulations on Exchange Control of the Peoples Republic of China

国务院令第193号
时效性：已被修正　 颁布日期：19960129 　实施日期：19960401 　失效日期：19970114 　颁布单位：国务院

　　Chapter I General provisions

　　Article 1. These regulations are formulated with a view to improving the management of the exchange system， maintaining an equilibrium in balance of payments and promoting sound economic growth.

　　Article 2. The government agencies of the State Council in charge of exchange control and their local offices （hereafter the exchange control agencies for both） shall exercise exchange control in accordance with the law and assume the responsibility for the implementation of the regulations.

　　Article 3. Foreign exchange as referred to in the regulations includes means of payments and assets denominated in foreign currency for international settlement as the following：

　　1. foreign currencies， including bank notes and coins；

　　2. payment instruments denominated in foreign currency； including bills， bank certificate of deposit and certificate of postal deposit etc.；

　　3. securities denominated in foreign currency， including government bonds， corporate debentures and stocks etc.；

　　4. Special Drawing Rights and European Currency Units； and

　　5. other assets denominated in foreign currency.

　　Article 4. The regulations shall govern all activities related to the receipts and payments of foreign exchange as well as foreign exchange operations of domestic entities， individuals， foreign establishments， and foreign nationals in China.

　　Article 5. The government adopts a reporting system for balance of payments statistics. All entities and individuals involved in balance of payments transactions shall fulfill their obligations for reporting balance of payments statistics.

　　Article 6. Circulation of foreign currency is prohibited and foreign Currency shall not be quoted for settlement in the territory of the People's Republic of China.

　　Article 7. Any entity and individual shall have the right to reveal or expose any activities in violation of the regulations on exchange control.

　　Any entity and individual who reveal， expose or assist in stopping various activities in violation of exchange regulations on exchange control shall be duly rewarded and the confidentiality of their identity shall be ensured.

　　Chapter II Foreign exchange for current account transactions

　　Article 8. All foreign exchange receipts of domestic entities for current account transactions shall be repatriated home and shall not be deposited abroad in violation of the relevant government regulations without authorization.

　　Article 9. All foreign exchange receipts for current account transactions shall be sold to the designated foreign exchange banks in accordance with the regulations issued by the State Council on selling and purchasing foreign exchange， or with approval deposited in the foreign exchange account with the designated banks for foreign exchange operations.

　　Article 10. Purchase of foreign exchange for current account transactions shall be conducted with the designated foreign exchange banks， in accordance with the regulations issued by the State Council on selling and purchasing foreign exchange， upon the presentation of valid documents and commercial bills.

　　Article 11. The collection of export proceeds and the payments for imports in foreign exchange by domestic entities shall be processed in accordance with the relevant government regulations governing the verification procedures for export proceeds and import payments.

　　Article 12. Foreign exchange owned by individuals can be held at their own disposal， deposited in banks or sold to the designated foreign exchange banks.

　　Individuals' foreign exchange savings deposit shall be placed with banks on a voluntary basis， withdrawn freely and bear interest with confidentiality for the depositors' identity e

nsured.

　　Article 13. Foreign exchange shall be provided for personal travel abroad up to a prescribed limit. Any requests for purchasing foreign exchange exceeding the limit shall be filed for approval by the exchange control agencies.

　　Individuals carrying foreign exchange into or out of China shall declare their foreign exchange in the customs office. Individuals shall present to the customs office valid documents for carrying a large sum of foreign exchange exceeding the prescribed limit.

　　Article 14. Foreign assets held by Chinese citizens residing in China in the form of payment instruments and securities denominated in foreign currency etc. shall not be taken or sent abroad without authorization of the exchange control agencies.

　　Article 15. Visa and notary fees in Renminbi collected by foreign diplomatic establishments and consulates can be converted into foreign exchange in the designated foreign exchange banks and remitted abroad upon the presentation of relevant documents.

　　Repatriation of other types of legitimate income in Renminbi in addition to those described in the foregoing article requires the approval by the exchange control agencies， and conversion into foreign exchange can be granted at the designated banks upon the presentation of the instruction for exchange purchase issued by the exchange control agencies.

　　Article 16. Except what is prescribed in the next provision， salaries and other types of legitimate income in Renminbi earned by foreign experts working in domestic entities can be converted into foreign exchange at the designated banks and then taken abroad after taxes are paid.

　　Salaries and other types of legitimate income in foreign currency earned by foreign employees working at the foreign-funded enterprises can be directly remitted abroad or taken abroad after taxes are paid； these salaries and income in Renminbi earned by foreign employees working at the foreign-funded enterprises can be converted into foreign exchange and remitted or taken abroad upon presentation of the valid documents required by the exchange control agencies.

　　Article 17. Foreign exchange sent or carried in by foreign entities and foreign nationals in China can be held at their own disposal， deposited in designated banks or sold to the designated foreign exchange banks. Such foreign exchange can also be remitted or taken abroad upon the presentation of valid documents.

　　Chapter III Foreign exchange for capital account transactions

　　Article 18. Unless otherwise specified by the State Council， all foreign exchange receipts for capital account transactions shall be repatriated home.

　　Article 19. All foreign exchange receipts for capital account transactions shall be placed in the foreign exchange account in the designated foreign exchange banks in accordance with the relevant government regulations； these receipts can be sold to the designated foreign exchange banks upon the approval by the exchange control agencies.

　　Article 20. The source of foreign exchange for overseas investment by Domestic entities shall be reviewed by the exchange control agencies before the application for such investments is filed for approval by the relevant government agencies. If approval is granted， remittance of funds shall then take place in accordance with the regulations on overseas investment issued by the State Council.

　　Article 21. External borrowing in loans shall be undertaken in accordance with the relevant regulations by the government agencies designated by the State Council， financial institutions and other enterprises duly authorized by the government agencies of the State Council in charge of exchange control.

　　External borrowing in loans by foreign-funded enterprises shall Be filed with the exchange control agencies for records.

　　Article 22. The issue of bonds abroad denominated in foreign currenc

y by financial institutions requires the approved by the government agencies of the State Council in charge of exchange control before the issue proceeds in accordance with the relevant government regulations.

　　Article 23. External guarantees shall only be offered by qualified financial institutions and enterprises meeting the government requirements and subject to the approval by the exchange control agencies.

　　Article 24. The government practices a registration system for external debt. All domestic entities shall register external debt in accordance with the regulations formulated by the State Council on monitoring statistics of external debt.

　　The government agencies of the State Council in charge of exchange control shall take the responsibility for collecting and monitoring statistics of external debt and publish these statistics on a regular basis.

　　Article 25. The currency holding denominated in Renminbi belonging to the foreign counterparts of foreign-funded enterprises， having been terminated in accordance with the law， can be converted into foreign exchange in the designated foreign exchange banks and then sent or taken abroad after the liquidation and tax payments. All the foreign exchange belonging to the Chinese counterpart investors shall be sold to the designated foreign exchange banks.

　　Chapter IV Foreign exchange operations for financial institutions

　　Article 26. Financial institutions shall have the approval by the exchange control agencies for operating foreign exchange transactions and a license for such operations is also required.

　　No entities or individuals are allowed to undertake foreign Exchange operations without the approval by the exchange control agencies. Financial institutions duly authorized for foreign ex

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