Decision of the standing Committee of the National peoples congress on Amending the law of the peopl

l be put in detention for not more than 15 days and fined not more than 10，000 yuan by a public security organ.”

　　21.Article 42 is changed to be Article 43 and is revied to read， “Anyone who buys counterfeit or altered Renminbi or knowingly holds or uses counterfeit or altered Renminbi， which is serious enough to constitute a crime， shall be investigated for criminal responsibility in accordance with law； if the case is not serious enough to constitute a crime， he shall be put in detention for not more than 15 days and fined not more than 10，000 yuan by a public security organ.”

　　22.Article 45 is changed to be Article 46 and is revised to read： “where in relevant laws and administrative regulations there are provisions governing punishment for violations in respect of the activities as are listed in article 32 of this law， punishment shall be meted out in accordance with those provisions； where in such laws and administrative regulations there are no provisions governing such punishment， the people's Bank of china shall， on the merits of each ease give a disciplinary warning， confiscate the unlawful gains， or if the unlawful gains exceed 500，000 yuan shall， in addition impose a fine of not less than the amount of such gains but not more than five times that amount； if there are no unlawful gains or if such gains are less than 500，000 yuan， it shall impose a fine of not less that 500，000 yuan but not more than 2，000，000 yuan…… The director or senior manager who is directly in charge or any other person who is directly responsible shall be given a disciplinary warning and be fined not less than 50，000 yuan but not more than 500，000 yuan. If a crime is constituted， crminal responsibility shall be investigated in accordance with lsw.”

　　23 Article 49 is changed to be Article 50 and is revised to read， “If any staff member of the people's Bank of china divulges state secrets or the business secrets he knows， which is serious enough to constitute a crime， he shall be investigated for criminal responsibility according to law； if the case is not serious enougl to constitute a crime， he shall be subject to administrative sanction

according to law.”

　　24.Article 50 is changed to be Article 51 and is revised to read， “if any staff member of the people's Bank of china commits embezzlement， accepts bribes， conducts malpractices for personal ends， abuses his power or neglects his duty， which is serious enough to constitute a crime， he shall be investigated for criminal responsibility according to law； if the case is not serious enough to constitute a crime， he shall be subject to administrative sanction according to law.”

　　25 one article is added as Article 52， which reads， “For purposes or this law； the financial institutions of the banking industry are financial institutions established within the territory of the people's Republic of china that take in deposits from the general public， including， among others， commercial banks， urban credit cooperatives and rural credit cooperatives， and policy banks.”

　　the provisions of this law pertaining to financial institutions of the banking industry are applicable to the assets management companies， trust and investment companies， financial companies and financial leasing companies established within the territory of the people's Republic of china and other financial institutions established with the approval of the banking regulatory authority under the state council.

　　This Decision shall go into effect as of February 1，2004.

　　The law of the people's republic of china on the people's Bank of china shall be repromulgated after the revisions are made and the order of the articles is rearranged according to this decision.

　　Appendix：

　　Law of the people's Republic of china on the people's Bank of china

　　（Adopted at the third session of the Eighth National people's congress on March 18，1995， and revised in accordance with the Decision on amending the law of the people's republic of china on the people's bank of china adopted at the 6th meeting of the standing committee of the tenth National people's congress on December 27 2003）

　　contents

　　Chapter I General provisions

　　Chapter II Organization structure

　　Chapter III the renminbi

　　Chapter IV Business operations

　　Chapter V Financial supervision and control

　　Chapter VI Financial affairs and Accounting

　　Chapter VII Legal Responsibility

　　Chapter VIII supplementary provisions

　　Chapter I

　　General provisions

　　Article 1 This law is enacted in order to define the status and make clear the functions and responsibilities of the people's Bank of china， ensure the correct formulation and implementation of the monetary policies of the state， establish and perfect a macro-control system through a central bank and maintain financial stability.

　　Article 2 the people's Bank of china is the central bank of the people's republic of china.

　　The people's Bank of china shall， under leadership of the state council， formulate and implement monetary policies， guard against and eliminate financial risks， and maintain financial stability.

　　Article 3 the aim of monetary policies shall be to maintain the stability of the value of the currency and thereby promote economic growth.

　　Article 4 the people's bank of china shall perform the following functions and responsibilities：

　　（1） to promulgate and carry out the orders and regulations related to its functions and responsibilities；

　　（2） to formulate and implement monetary polices in accordance with law；

　　（3）to issue Renminbi （EMB）and control its circulation；

　　（4）to supervise and administer the inter-bank lending market and the inter-bank bind market；

　　（5）to exercise control of foreign exchange and supervise and administer the inter-bank foreign exchange market；

　　（6）to supervise and administer the gold market；

　　（7）to hold， administer and manage the state foreign exchange reserve

and gold reserve；

　　（8）to manage the state treasury；

　　（9）to maintain the normal operation of the system for making payments and settling accounts；

　　（10）to guide and make plans for the fight against money laundering in the banking industry， and to be responsible for monitoring the use of the funds earmarked for the fight against money laundering；

　　（11）to be responsible for statistics， investigation， analysis and forecasting concerning the banking industry；

　　（12）to engage in relevant international banking operations in its capacity as the central bank of the state； and

　　（13） other functions and responsibilities prescribed by the state council.

　　To implement monetary policies the people's Bank of china may carry out financial operations in accordance with the relevant provisions of chapter IV of this law.

　　Article 5 the people's bank of china shall report its decisions to the state council for approval concerning the annual money supply， interest rate， foreign exchange rates and other important matters specified by the state council before they are implemented.

　　The people's bank of china shall immediately implement decisions on monetary policies for matters other than those specified by the state council for the record.

　　Article 6 the people's bank of china shall submit to the standing committee of the National peoples congress work reports concerning matters of monetary policies and the operations of the banking industry.

　　Article 7 the people's bank of china shall， under the leadership of the state council， implement monetary policies， perform its functions and carry its business operations independently according to law and be free from intervention by local governments， government departments at various levels， public organizations or individuals.

　　Article 8 All capital of the people's Bank of china is invested by the state and owned by the state.

　　Article 9 the state council shall establish a coordinating mechanism for financial supervisions and administration. The specific measures therefor shall be formulated by the state council.

　　Article 10 the state council establishes a coordinating mechanism for financial supervision and management. The specific measures therefor shall be prescribed by the state council.

　　Chapter II

　　Organizational structure

　　Article 11 the people's bank of china shall have a Governor and a certain number of deputy governors.

　　The candidate for the governor of the people's bank of china shall be nominated by premier of the state council and decided by the National people's congress； when the National people congress is not in session， the governor shall be decided by the standing committee of the national people's congress and appointed or removed by the president of the people's republic of china. The deputy governors of the people's bank of china shall be appointed or removed by the premier of the state council.

　　Article 12 the people's Bank of china shall practice a system wherein the governor shall assume overall responsibility. The governor shall direct the work of the people's bank of china， the deputy governors shall assist the governor in his or her work.

　　The monetary policy committee of the people's bank of china shall play an important role in the state macro-control and the formulation and adjustment of monetary policies.

　　Article 13 the people's Bank of china shall establish branches as its representative organs in light of the need of performing its funct

┨网页设计特效库┠ http://www。z┗co⊙l。com/网页特效/