境内外汇帐户管理规定 Administration of Foreign Exchange Accounts Inside China Provisions

receipts therein shall be in the form of foreign exchange proceeds obtained by organizations inside the People's Republic of China from assignment of their existing assets; and payments therefrom shall be for approved purposes.

　　Article 27　With respect to f

oreign exchange accounts opened in accordance with Item Seven of Article 20 hereof, receipts therein shall be in the form of foreign exchange proceeds from share trading, or foreign exchange remitted or carried into the People's Republic of China, by legal or natural persons outside the People's Republic of China; and payments therefrom shall be for purposes of share trading.

　　Article 28　To open a foreign exchange account relating to capital account items (except for foreign exchange accounts to be opened in accordance with Item Seven of Article 20 hereof), an application shall be made to the Administration of Foreign Exchange by presenting an application for approval to open a foreign exchange account and the relevant documents and materials set forth below; following approval, procedures for opening of the account shall be carried with the accounting-providing financial institution on the strength of the Notice of Opening of an Account issued by the Administration of Foreign Exchange :

　　1. organizations inside the People's Republic of China that wish to open a special loan account and a special loan repayment account shall present an original copy of the loan contract, the foreign debt registration certificate or the (On-lent) Foreign Exchange Loan Registration Certificate;

　　2. organizations inside the People's Republic of China that apply for approval to open a special stock account shall present materials such as the offering prospectus approved by the securities regulatory authorities;

　　3. foreign investment enterprises that apply for approval to open a capital account shall present the Foreign Exchange Registration Certificate of a Foreign Investment Enterprise and other materials;

　　4. legal or natural persons outside the People's Republic of China that apply for approval to open a special temporary account shall present proof of remittance and the signed letter of intent;

　　5. organizations inside the People's Republic of China that wish to open a foreign exchange account in accordance with Item Six of Article 20 hereof shall present documents such as the document by which a competent approval authority approved the assignment, the assignment agreement, the plan for application of the funds, etc.

　　Article 29　Legal or natural persons outside the People's Republic of China that wish to open a B share account in accordance with Item Seven of Article 20 hereof shall directly open an account with a securities house on the strength of their certificates from outside the People's Republic of China showing that they are institutions with the status of a legal person or on the strength of their personal identity cards from outside the People's Republic of China.

　　Article 30　When organizations inside the People's Republic of China apply for approval to open a foreign exchange account relating to capital account items, the Administration of Foreign Exchange shall prescribe the scope of payments into and out of the account, the term of use of the account, and the determined maximum amount of the account, and shall note the same on the Notice of Opening of an Account.

　　Article 31　After an account-providing financial institution has opened a foreign exchange account relating to capital account items for a foreign investment enterprise, it shall note the account number, currency and date of opening on, and affix its chop to, the Foreign Exchange Registration Certificate of a Foreign Investment Enterprise.

　　Article 32　Organizations inside the People's Republic of China may use the funds in their special loan account for the purpose specified in the loan agreement, without approval from the Administration of Foreign Exchange.

　　The balance in a special loan repayment account may not exceed the total amount of principal and interest payable for the next two installments. Payments out of such account shall be submitted to the Administration of

Foreign Exchange for examination and approval on a payment-by-payment basis.

　　Article 33　When an organization inside the People's Republic of China wishes to repay a foreign debt, repay an on-lent foreign loan, or pay a fee in connection therewith, through its special loan repayment account, it shall apply five working days in advance to the Administration of Foreign Exchange of the place where it is located on the strength of its foreign debt registration certificate and the creditor's debit note for repayment of principal or payment of interest, and obtain a Principal Repayment and Interest Payment Approval Certificate. The account-providing financial institution shall carry out the payment procedures on the strength of the Principal Repayment and Interest Payment Approval Certificate issued by the Administration of Foreign Exchange.

　　Article 34　When an organization inside the People's Republic of China wishes to repay the principal of, pay interest on, or pay a fee in connection with, a foreign exchange loan from a wholly Chinese-owned financial institution inside the People's Republic of China through its special loan repayment account, it may handle the matter directly with the account-providing financial institution on the strength of its (On-lent) Foreign Exchange Loan Registration Certificate, the creditor's debit note for repayment of principal or payment of interest and the loan contract.

　　Article 35　If an organization inside the People's Republic of China wishes to convert funds in its foreign exchange account relating to capital account items into Renminbi, it shall submit the matter to the Administration of Foreign Exchange for approval. The funds in foreign exchange accounts opened by legal or natural persons outside the People's Republic of China in accordance with Item Seven of Article 20 hereof may not be converted into Renminbi for use.

　　PART FOUR　SUPERVISION AND CONTROL OF FOREIGN EXCHANGE ACCOUNTS

　　Article 36　Organizations inside the People's Republic of China and foreign establishments inside the People's Republic of China shall apply for approval to open an account to the Administration of Foreign Exchange of their place of registration. If they need to open a foreign exchange account elsewhere in China, the matter shall be handled in accordance with the following provisions:

　　1. A foreign investment enterprise shall apply to the Administration of Foreign Exchange of its place of registration, and carry out recordal procedures with the Administration of Foreign Exchange of the place where the account is to be opened on the strength of the Notice of Opening of an Account issued by the Administration of Foreign Exchange of its place of registration. After the Administration of Foreign Exchange of the place where the account is to be opened has verified and affixed its chop to the said notice, the enterprise shall carry out the procedures with the account-providing financial institution.

　　2. Any other organization inside the People's Republic of China that wishes to open a foreign exchange account relating to current account items in accordance with these Provisions shall apply to the Administration of Foreign Exchange of the place where the account is to be opened on the strength of the approval document of the Administration of Foreign Exchange of its place of registration and related documents, whereupon the Administration of Foreign Exchange of the place where the account is to be opened shall issue an Approval Certificate for the Opening of a Foreign Exchange Certificate and a Foreign Exchange Account Use Permit.

　　3. Any other organization inside the People's Republic of China that wishes to open a foreign exchange account relating to capital account items in accordance with these Provisions shall carry out recordal procedures with the Administration of Foreign Exchange of the place where the account is to be opened on the strength

of the Notice of Opening of an Account issued by the Administration of Foreign Exchange of its place of registration. After the Administration of Foreign Exchange of the place where the account is to be opened has verified and affixed its chop to the said notice, the enterprise shall open the foreign exchange account with the account-providing financial institution.

　　4. A foreign establishment inside the People's Republic of China shall obtain a Foreign Exchange Account Recordal Form for a Foreign Establishment Inside the People's Republic of China from both the Administration of Foreign Exchange of its place of registration and the Administration of Foreign Exchange of the place where the account is to be opened.

　　Article 37　If an organization inside the People's Republic of China or a foreign establishment inside the People's Republic of China needs to change particulars of its foreign exchange account as contained in its Foreign Exchange Account Use Permit, Foreign Exchange Registration Certificate of a Foreign Investment Enterprise, Foreign Exchange Account Recordal Form for a Foreign Establishment Inside the People's Republic of China or Notice of Opening of an Account, it shall apply to the Administration of Foreign Exchange on the strength of the relevant documents and carry out the procedures in respect of the change.

　　Article 38　If an organization inside the People's Republic of China or a foreign establishment inside the People's Republic of China needs to close its foreign exchange account, it shall, within 10 working days after it h

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