境内外汇帐户管理规定 Circular of the Peoples Bank of China on Issuing the Regulation on Administration of Dome

al SAFE where its is registered for opening an account. Opening foreign exchange accounts in places other than register place shall apply to the following rules:

　　(1) Enterprises with foreign investment shall apply to the local SAFE where it is registered, and submit a record file to the local SAFE

where the account is opened upon presentation of the account opening advice issued by the local SAFE where it is registered. After the SAFE where the account is opened put a stamp on the note, the enterprises with foreign investment may get through procedures at a deposit financial institution;

　　(2) Other domestic entities opening a foreign exchange account for current account transactions according to this regulation, shall apply to the SAFE where the account is going to open upon presentation of approval documents issued by SAFE where it is registered, and the SAFE where the account is going to open shall issue a approval note of opening foreign exchange account and a foreign exchange account utilization certificate;

　　(3) Other domestic entities opening a foreign exchange account for capital account transactions according to this regulation shall submit a record file to the SAFE where account is opened upon presentation of an account opening note issued by the SAFE where it is registered, and then shall open a foreign exchange account at a deposit financial institution after the SAFE where account is open put a stamp on the note;

　　(4) Foreign establishments shall apply to both the local SAFE where it is registered and the local SAFE where account is opened for a foreign exchange account record form for foreign establishments.

　　Article 37 In case of making a change in contents related to a foreign exchange account in a foreign exchange account utilization certificate, foreign exchange registration certificate of enterprises with foreign investment or a foreign exchange account record form for foreign establishments or an account opening advice, domestic entities and foreign establishments in China shall present relevant documents to SAFE and provide an application to get through procedure for change.

　　Article 38 In demand of close of a foreign exchange account, domestic entities and foreign establishments shall submit to SAFE a proof document on account closing issued by the deposit financial institution and a foreign exchange account utilization certificate, an external debt registration certificate, a foreign exchange registration certificate of enterprises with foreign investment or a foreign exchange account record form of foreign establishments within 10 working days after getting through account closure procedures.

　　Article 39 SAFE shall exercise annual inspection on foreign exchange account of domestic entities and foreign establishments.

　　Article 40 Deposit financial institutions shall report statistics on changes in foreign exchange account to the local SAFE as required.

　　Article 41 With respect to a foreign exchange account to be withdrawn, SAFE shall send an advice of withdrawal of the foreign exchange account to the deposit financial institution and account-opening unit concerned, and give a clear treatment on the balance of the foreign exchange account according to regulations and order withdrawal of a foreign exchange account in a time limit.

　　Article 42 Domestic entities and foreign establishments shall apply for and make account opening according to this regulation, and shall use the foreign exchange account within the receipts and payments scope, operating period and balance ceiling rectified by SAFE. Entities shall not open a foreign exchange account without authorization, lease, lend or cross-use a foreign exchange account, use a foreign exchange account to receive, hold or transfer foreign exchange for other entities or individuals, deposit foreign exchange of entities in name of an individual, or use a foreign exchange account beyond the opening period and balance ceiling rectified by SAFE.

　　Article 43 Deposit financial institutions shall open, close or make receipts and payments through a foreign exchange account for domestic entities, foreign establishments, individuals or foreign nationals in China according to t

his regulation, and shall supervise the use of foreign exchange accounts of account-opening entities and individuals. Financial institutions shall not open foreign exchange accounts or process receipts in and payments from account beyond scope for domestic entities, foreign establishments, individuals or foreign nationals in China without authorization.

　　Article 44 In case of domestic entities, foreign establishments, individuals and foreign nationals in China in violation of the following regulations on foreign exchange account management, SAFE shall order correction, withdraw its foreign exchange accounts, circulate a notice of criticism and impose a forfeit from 50,000 yuan through 300,000 yuan:

　　(1) Open a foreign exchange account in the territory of China without authorization;

　　(2) Lend, cross-use or transfer a foreign exchange account;

　　(3) Change the utilization scope of a foreign exchange account without authorization;

　　(4) Use a foreign exchange account beyond the balance ceiling and operating period rectified by SAFE;

　　(5) Violate other regulations on foreign exchange account administration.

　　Article 45 In case a deposit financial institutions opens a foreign exchange account for domestic entities, foreign establishments, individuals and foreign nationals in China without authorization, or make receipts in and payments from a foreign exchange account beyond the limit specified by SAFE, SAFE shall order a correction, circulate a notice of criticism, and impose a forfeit from 100,000 yuan through 300,000 yuan.

　　Chapter V Supplementary Provisions

　　Article 46 Noncorporator economic organizations with foreign investment, having a business license in China, shall abide by regulations on enterprises with foreign investment specified in this regulation in opening and using a foreign exchange account.

　　Article 47 Cases under the following circumstances are not subject to this regulation:

　　(1) Vostro foreign exchange accounts of financial institutions;

　　(2) Foreign exchange accounts of foreign embassies, consulate, and resident representative offices of international organizations maintained in China;

　　Article 48 The SAFE is responsible for the interpretation of this regulation.

　　Article 49 This regulation shall come into force as of October 15, 1997. The Provisional Rule of Foreign Exchange Account Administration promulgated by PBC on April 1, 1994, the Circulation on Issues Concerning the Provisional Rules of Foreign Exchange Account Administration promulgated by SAFE on May 30, 1994, Account-opening Procedures for Principal Repayments and Interest Payments of External Debt and Foreign Exchange (indirect) Loans promulgated on June 22, 1994, and the Provisional Rule on Domestic Foreign Exchange Account Administration of Enterprises with Foreign Investment promulgated on June 28, 1996 shall be repealed simultaneously.

　　Attachment 1:Approval Note of SAFE on Opening Foreign Exchange Account(omitted)

　　Attachment 2:Foreign Exchange Account Utilization Certificate(omitted)

　　Attachment 3:Foreign Exchange Account Record Form of Foreign Establishments(omitted

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