境内机构借用国际商业贷款管理办法 Administration of Taking Out of International Commercial Loans by Organizations in

om the SAFE shall be obtained;

　　4. Enterprises with foreign investment may entrust by themselves financial institutions outside China or foreign-funded financial institutions in China to carry out hedging business for their international commercial loans.

　　Article 43　After organizations in China havin

g hedged their international commercial loans, they shall carry out the formalities for changing registration of foreign debt in accordance with regulations on statistical monitoring of foreign debt.

　　Article 44　Regulations on administration of foreign exchange accounts shall be applicable to the administration of accounts relating to the taking out of international commercial loans.

　　Article 45　The Procedures are applicable to the taking out of foreign exchange loans by organizations in China from overseas branches of Chinese-funded financial institutions.

　　Article 46　The Procedures are applicable to aircraft finance leasing and effecting advance payment of aircraft finance leasing by taking out international commercial loans.

　　Article 47　Provisions on the administration of project financing in the Procedures are applicable to assignment by organizations in China to assignees abroad of the operation right or usufruct of completed project at a fixed cost.

　　Article 48　Provisions on the administration of overseas branches in the Procedures shall be implemented in the taking out of international commercial loans by Chinese-funded banks in the course of offshore business.

　　Article 49　Foreign exchange loans taken out by organizations in China from offshore business departments of Chinese-funded banks shall be administered as international commercial loans.

　　Article 50　The provisions of Articles 1, 2, 3, 8, 9, 10, 11, 12, 13, 17, 18, 35, 36, 37, 39, 40,41, 42(4), 43, 44, 45, 46, 47, 49, 51, 52 and those of Part 4 hereof are applicable to enterprises with foreign investment. Other articles are not applicable to such enterprises.

　　Article 51　The SAFE shall be responsible for the interpretation of the Procedures.

　　Article 52　The Procedures shall come into effect as of 1 January 1998. The Administration of Borrowing of International Commercial Loans by Domestic Organizations Procedures approved by the People's Bank of China and promulgated by the SAFE on 26 September 1991, the Relevant Matters Concerning Project Financing Carried Out by Organizations in China Circular promulgated by the People's Bank of China on 14 July 1995, the Administration of Financing Outside China by Overseas Branches of Banks with Chinese Capital Operating Foreign Exchange Business Provisions promulgated by the SAFE on 17 April 1996 and the Strengthening Administration of Financing by Overseas Establishments of Chinese-funded Enterprises Circular promulgated by the SAFE on 16 January 1997 shall be repealed simultaneously

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