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Rules and Regulations
  • Index number:
    000014453-2016-00315
  • Dispatch date:
    2016-07-11
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
    Huifa No. 11 [2016]
  • Name:
    Circular of the State Administration of Foreign Exchange on Printing and Distributing the Regulations on Management of Currency Exchange Agencies and Self-service Currency Exchange Machines
Circular of the State Administration of Foreign Exchange on Printing and Distributing the Regulations on Management of Currency Exchange Agencies and Self-service Currency Exchange Machines

The branches and administrative departments of the State Administration of Foreign Exchange (SAFE) in various provinces, autonomous regions, and municipalities directly under the Central Government, the SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, and nationwide Chinese-funded banks:

To standardize currency exchange agencies and self-service currency exchange machines with respect to the currency exchange business, the State Administration of Foreign Exchange (SAFE) has formulated the Regulations on Management of Currency Exchange Agencies and Self-service Currency Exchange Machines ("Regulations", see the appendix), which are hereby issued for your compliance and implementation.

I. The Regulations shall come into force as of the date of issuance. The Circular of the State Administration of Foreign Exchange on Improving Foreign Exchange Administration of Currency Exchange Agencies (Huifa No. 48 [2007]) and the Circular of the State Administration of Foreign Exchange on Further Improving the Individual Currency Exchange Business (Huifa No. 24 [2008]) are hereby abolished. For any discrepancies between the Regulations and previously issued provisions, the Regulations shall prevail.

II. The provisions on amount management under Article 7 and 15 of the Regulations and the provisions on adjustment of the authorization agreements between banks and currency exchange agencies in accordance with the Regulations will come into force as of November 1, 2016.

Upon receipt of this Circular, the SAFE branches and foreign exchange administration departments should immediately forward it to the central sub-branches (sub-branches), local Chinese-funded banks, foreign-funded banks and franchised individual currency exchange agencies within their respective jurisdiction, and the Chinese-funded banks should promptly forward it to the branches under their jurisdictions. For any problems arising from implementation, please contact the Department of the Balance of Payments of the SAFE in a timely manner. Tel.: 010-68402399, 68402313.

 

Appendix: Regulations on Management of Currency Exchange Agencies and Self-service Currency Exchange Machines

 

State Administration of Foreign Exchange

                                                                                                             May 19, 2016





FILE: Regulations on Management of Currency Exchange Agencies and Self-service Currency Exchange Machines

The English translation may only be used as a reference. In case a different interpretation of the translated information contained in this website arises, the original Chinese shall prevail.

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