国务院关于修改《中华人民共和国外汇管理条例》的决定 REGULATIONS ON THE FOREIGN EXCHANGE SYSTEM OF THE PEOPLES REPUBLIC OF CHIN

国务院令第211号
（Issued on April 4， 1996， modified on January 14， 1997）
颁布日期：19970114 　实施日期：19970114 　颁布单位：国务院

　　Chapter I General provisions

　　Article 1 These regulations are formulated with a view to improving the management of the exchange system， maintaining an equilibrium in the balance of payments and promoting sound economic growth.

　　Article 2 The government agencies of the State Council in charge of the administration of the exchange system and their local offices （hereafter the exchange administration agencies for both） shall exercise exchange management in accordance with the law and assume the responsibility for the implementation of the regulations.

　　Article 3 Foreign exchange as referred to in the regulations includes means of payments and assets denominated in foreign currency for international settlement as the following：

　　1. foreign currencies， including bank notes and coins；

　　2. payment instruments denominated in foreign currency， including bills， bank certificate of deposit and certificate of postal deposit etc.

　　3. securities denominated in foreign currency， including government bonds， corporate debentures and stocks etc.；

　　4. Special Drawing Rights and European Currency Units； and

　　5. other assets denominated in foreign currency.

　　Article 4 The payment in and transfer of foreign exchange for current international transactions shall not be subject to the government control or restriction.

　　Article 5 The regulations shall govern all activities related to the receipts and payments of foreign exchange as well as foreign exchange operations of domestic entities， individuals， foreign establishments， and foreign nationals in China.

　　Article 6 The government adopts a reporting system for balance of payments statistics. All entities and individuals involved in balance of payments transactions shall fulfill their obligations for reporting balance of payments statistics.

　　Article 7 Foreign currency is prohibited for circulation and shall not be quoted for pricing or settlement in the territory of the People's Republic of China.

　　Article 8 All entities and individuals shall have the right to reveal or expose any activities in violation of the regulations on exchange management.

　　All entities and individuals who reveal， expose or assist in stopping various activities in violation of exchange regulations on exchange management shall be rewarded and the confidentiality of their identity shall be ensured.

　　Chapter II Foreign exchange for current account transactions

　　Article 9 All foreign exchange receipts of domestic entities for current account transactions shall be repatriated and shall not be deposited abroad in violation of the relevant government regulations without authorization.

　　Article 10 All foreign exchange receipts for current account transactions shall be sold to the designated foreign exchange banks in accordance with the regulations issued by the State Council on the sale and purchase of foreign exchange and making payments in foreign exchange， and such receipts may also be upon approval， deposited in the foreign exchange account at the designated banks for foreign exchange operations.

　　Article 11 Purchase of foreign exchange for current account transactions shall be conducted with the designated foreign exchange banks， in accordance with the regulations issued by the State Council on the sale and purchase of foreign exchange and making payments in foreign exchange， upon the presentation of valid documents and commercial bills.

　　Article 12 The collection of export proceeds and the payments for imports in foreign exchange by domestic entities shall be processed in accordance with the relevant government regulations governing the verification procedures for export proceeds and import payments.

　　Articl

e 13 Foreign exchange owned by individuals can be held at their own discretion， deposited in banks or sold to the designated foreign exchange banks.

　　Individuals' foreign exchange savings deposit shall be placed with banks on a voluntary basis， withdrawn freely and bear interest with confidentiality for depositors' identity ensured.

　　Article 14 The purchase of foreign exchange for personal travel abroad and other miscellaneous expenses shall be granted within the specified limit.

　　Individuals may apply for the purchase of foreign exchange over and above the limit at the government agencies in charge of foreign exchange. And the request for such purchase shall be approved if it proves to be for bona fide transactions.

　　Individuals carrying foreign exchange into or out of China shall declare their foreign exchange in the customs office. Individuals shall present to the customs office valid documents for carrying a large sum of foreign exchange exceeding the specified limit.

　　Article 15 The remittance and/or carrying of foreign exchange abroad for such income derived from the possession of assets in China shall be granted upon the presentation of the specific certifying documents at the designated foreign exchange banks.

　　Article 16 Foreign assets held by Chinese citizens residing in China in the form of payment instruments and securities denominated in foreign currency etc. shall not be taken or sent abroad without authorization of the exchange administration agencies.

　　Article 17 The purchase of and payment in foreign exchange abroad for the legitimate income in Renminbi for foreign establishments and foreign nationals in China shall be granted upon the presentation of the supporting documents and statement of charges at the designated foreign exchange banks.

　　Article 18 Foreign exchange sent or carried in by foreign establishments and foreign nationals in China can be held at their own discretion， deposited in designated banks or sold to the designated foreign exchange banks. Such foreign exchange can also be remitted or taken abroad upon the presentation of valid documents.

　　Chapter III Foreign exchange for capital account transactions

　　Article 19 Unless otherwise specified by the State Council， all foreign exchange receipts for capital account transactions shall be repatriated.

　　Article 20 All foreign exchange receipts for capital account transactions shall be placed in the foreign exchange account at the designated foreign exchange banks in accordance with the relevant government regulations； such receipts can be also sold to the designated foreign exchange banks upon the approval by the exchange administration agencies.

　　Article 21 The source of foreign exchange for overseas investment by domestic entities shall be reviewed by the exchange administration agencies before the application for such investments is filed for approval by the relevant government agencies. If approval is granted， remittance of funds shall then take place in accordance with the regulations on overseas investment issued by the State Council.

　　Article 22 External borrowing in loans shall be undertaken in accordance with the relevant regulations by the government agencies designated by the State Council， financial institutions and other enterprises duly authorized by government agencies of the State Council in charge of exchange administration.

　　External borrowing in loans by foreign-funded enterprises shall be filed with the exchange administration agencies for records.

　　Article 23 The issue of bonds abroad denominated in foreign currency by financial institutions requires the approval by the government agencies of the State Council in charge of exchange administration before the issue proceeds in accordance with the relevant government regulations.

　　Article 24 External guarantee shall only be offered by quali

fied financial institutions and enterprises meeting the government requirements and subject to the approval by the exchange administration agencies.

　　Article 25 The government adopts a registration system for external debt. All domestic entities shall register external debt in accordance with the regulations formulated by the State Council on monitoring statistics of external debt.

　　The government agencies of the State Council in charge of exchange administration shall take the responsibility for collecting and monitoring statistics of external debt and publish these statistics on a regular basis.

　　Article 26 The currency holding denominated in Renminbi belonging to the foreign counterparts of foreign-funded enterprises， having been terminated in accordance with the law， can be converted into foreign exchange at the designated foreign exchange banks and then sent or taken abroad after the liquidation and tax payments. All the foreign exchange belonging to the Chinese counterpart investors shall be sold to the designated foreign exchange banks.

　　Chapter IV Foreign exchange operations for financial institutions

　　Article 27 Financial institutions shall have the approval by the exchange administration agencies for conducting foreign exchange transactions， and a license for such operations is also required.

　　No entities or individuals are allowed to undertake foreign exchange operations without the approval by the exchange administration agencies.

　　Financial institutions duly authorized for foreign exchange operations shall never operate beyond the approved business scope.

　　Article 28 Financial institutions duly authorized for foreign exchange operations shall open foreign exchange accounts for their clients and conduct business op

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