In recent years, the State Administration of Foreign Exchange (SAFE) has made great efforts to sort out the existing laws and regulations and in six batches has nullified 275 laws and regulations. Based on these achievements, the SAFE recently issued the Catalogue of the Major Currently Valid Laws and Regulations on Foreign Exchange Administration (as of the end of June 2010) (hereinafter referred to as the Catalogue).

The Catalogue incorporates a total of 496 foreign exchange administration policies and regulations, including 5 administrative laws and regulations, 19 departmental rules, and 472 normative documents. The laws and regulations incorporated in the Catalogue are all in effect, wholly or mostly, including the administrative circulars and replies that the SAFE issued independently or in conjunction with other relevant authorities, relevant foreign exchange policies issued by the Peoples Bank of China, and judicial interpretations of the Supreme Peoples Court on foreign exchange administration. The Catalogue consists of nine major items, including general foreign exchange business, foreign exchange business under the current account, foreign exchange business under the capital account, foreign exchange business of financial institutions, the RMB exchange rate and the foreign exchange market, and the balance of payments statistics, which, in order to facilitate public inquiries, are further divided into some sub-items based on the specific types of business.