中华人民共和国中国人民银行法 LAW OF THE PEOPLES REPUBLIC OF CHINA ON THE PEOPLES BANK OF CHINA

er government bonds.

　　Article 29 The People's Bank of China may not provide loans to local governments or governmental departments at all levels， or to financial institutions other than banks， other organizations or individuals， however the special financial institutions other than banks to which the People's Bank of China may provide loans as determined by the State Council shall be excepted.

　　The People's Bank of China may not act as financial guarantor for any organization or individual.

　　Chapter V Supervision over Financial Institutions

　　Article 30 The People's Bank of China shall， in accordance with the law， exercise supervision over financial institutions and their business operations to maintain the legitimate， stable and sound operation of the financial industry.

　　Article 31 The People's Bank of China shall， in accordance with relevant regulations， approve the establishment， changes， termination and the business scope of a financial institution.

　　Article 32 The People's Bank of China shall have the power to audit， check and supervise at any time the deposits， credits， settlements， bad loans and other business affairs of financial institutions.

　　The People's Bank of Chins shall have the power to check and supervise the raising or lowering of interest rates on deposits or loans by financial institutions in violation of regulations.

　　Article 33 The People's Bank of China shall have the power to demand financial institutions to submit balance sheets， statements of profit and loss and other financial and accounting reports and material in pursuance of regulations.

　　Article 34 The People's Bank of China shall be responsible for compiling comprehensive statistics and accounting statements for the national financial system and publishing them in accordance with relevant provisions of the State.

　　Article 35 The People's Bank of China shall guide and supervise the business operations of the state banks responsible for implementing state policies.

　　Article 36 The People's Bank of China shall establish and perfect its systems of control and check-ups and streng

then its internal supervision.

　　Chapter VI Financial Accounting

　　Article 37 The People's Bank of China shall exercise independent control over its financial budget.

　　The budget of the People's Bank of China shall be incorporated into the central budget after it has been examined and verified by the financial department of the State Council and be subject to the budgetary control and supervision of the financial department of the State Council.

　　Article 38 The People's Bank of China shall turn over to the state treasury the entire net profit from its annual income minus annual expenditure after drawing funds for its general reserve at a proportion determined by the financial department of the State Council.

　　Losses sustained by the People's Bank of China shall be offset by state allocations.

　　Article 39 The People's Bank of China shall abide by the law， administrative rules and regulations and the unified state accounting system in managing its revenue and expenditure and in accounting and be subject to the auditing and supervision of the audit institutions and the financial department of the State Council in pursuance of the law.

　　Article 40 The People's Bank of China shall， within three months after the end of every fiscal year， complete the balance sheet， statement of profit and loss and relevant accounting reports， prepare its annual report and publish them in accordance with relevant regulations of the State.

　　The fiscal year of the People's Bank of China begins on the first of January and ends on the thirty first of December of the Gregorian calendar.

　　Chapter VII Legal Liabilities

　　Article 41 Anyone who forges or mints currency， sells counterfeit Renminbi， or knowingly transports counterfeit money shall be investigated for criminal responsibilities in accordance with the law.

　　Anyone who alters Renminbi or sells altered Renminbi or knowingly transports altered Renminbi shall， if the case constitutes a crime， be investigated for criminal responsibilities and shall， if the circumstances are not serious， be punished by the public security organ with a detention of not more than 15 days and a fine of not more than 5000 yuan.

　　Article 42 Anyone who buys counterfeit or altered Renminbi or knowingly holds or uses counterfeit or altered Renminbi， if the case constitutes a crime， shall be investigated for criminal responsibility； if the case is not serious， he shall be put by a public security organ in detention of not more than 15 days and imposed with a fine of not more than 5，000 yuan.

　　Article 43 In the event that anyone illegally uses the image of Renminbi on propaganda material， publications or other commodities， the People's Bank of China shall order the offender to make corrections and destroy the illegally used image of Renminbi， confiscate any income illegally obtained thereby and impose a fine of not more than 50000 yuan.

　　Article 44 In the event that anyone prints or sells coupons as substitutes for Renminbi for circulation， the People's Bank of China shall order the offender to stop the illegal practice and impose a fine of not more than 200000 yuan.

　　Article 45 In the event that anyone violates the law or administrative rules or regulations regarding financial supervision， the People's Bank of China shall order the offender to cease the illegal practice and give administrative sanctions in accordance with the law； if the case constitutes a crime， he shall be investigated for criminal responsibilities.

　　Article 46 If the person involved is not reconciled to the punishment， he or she may bring up an administrative suit in accordance with the “Administrative Procedure Law of the People's Republic of China”。

　　Article 47 If the People's Bank of China commits any of the following acts， the person directly in charge and other persons held directly responsible shall be subj

ect to administrative sanctions； if the case constitutes a crime， they shall be investigated for criminal responsibilities in accordance with the law：

　　（1） to provide a loan in violation of the First Paragraph of Article 29 of this Law；

　　（2） to provide financial guarantee for an organization or individual； or

　　（3） to use the currency issue fund without authorization.

　　Should any of the aforesaid acts result in a loss， the person directly in charge and other persons held directly responsible shall bear part of or all the liabilities for compensation.

　　Article 48 Should a local government or any other administrative organ at any level， or a public organization， or an individual coerce the People's Bank of China and its staff into providing loans in violation of the provisions of Article 29 of this Law， the person directly in charge and other persons held directly responsible shall be subject to administrative sanctions in accordance with the law； should the case constitute a crime， they shall be investigated for criminal responsibilities in accordance with the law and shall bear part of or all the liabilities for compensation for any resultant losses.

　　Article 49 Any staff of the People's Bank of China who divulges a state secret shall， if the case constitutes a crime， be investigated for criminal responsibilities， and if the case is not serious， he or she shall be subject to administrative sanctions in accordance with the law.

　　Article 50 Any staff of the People's Bank of China who commits embezzlements， corruption， malpractice for personal gains， abuse of power， neglect of duties shall， if the case constitutes a crime， be investigated for criminal responsibilities according to the law， and if the case in a minor one， shall be subject to administrative sanctions according to the law.

　　Chapter VIII Supplementary Provisions

　　Article 51 This Law shall go into effect on the date of its promulgation

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