The branches and foreign exchange administration departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government, the SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, and all designated Chinese-funded foreign exchange banks:
To implement the requirements of the State Council on reformative measures such as streamlining administration and power delegation, combination of regulation and deregulation, and optimizing services, and to further promote trade facilitation, the SAFE has streamlined relevant regulatory documents and would here like to notify you of the effectiveness of a selection of regulatory documents:
I. The following two regulatory documents on foreign exchange administration are abolished:
(I) Circular of the General Affairs Department of the State Administration of Foreign Exchange on Relevant Issues Concerning Standardization of the Information System Codes (Huizongfa No. 101 [2009])
(II) Circular of the State Administration of Foreign Exchange on Issuing the Standards Version 1.0 for Collecting Data on Foreign Exchange Transactions by Financial Institutions (Huifa No. 18 [2014])
II. The following four regulatory documents on foreign exchange administration are announced invalid:
(I) Supplementary Circular of the State Administration of Foreign Exchange on Issues Concerning Domestic Residents' Investments in the B-Share Market with their Personal Foreign Exchange Deposits (Huifa No. 33 [2001])
(II) Reply of the General Affairs Department of the State Administration of Foreign Exchange to Promoting the Use of Online Reporting and Approval System with Regard to Foreign Exchange Receipts and Payments of Foreign-funded Enterprises (Huizongfu No. 83 [2005])
(III) Circular of the Balance of Payments Department of the State Administration of Foreign Exchange on Using the National Information Sharing Platform with Regard to Organization Code (Huiguofa No. 14 [2006])
(IV) Circular of the General Affairs Department of the State Administration of Foreign Exchange on Launching the Statistical System for External Financial Assets and Liabilities and Foreign Transactions (Huizongfa No. 1 [2015])
The Circular will take effect as of the date of promulgation. Upon receipt of this Circular, all branches and foreign exchange administration departments of the SAFE shall immediately forward it to the central sub-branches, sub-branches, urban and rural commercial banks and foreign banks within their respective jurisdictions; and all designated Chinese-funded foreign exchange banks shall forward it to their branches and sub-branches as soon as possible.
State Administration of Foreign Exchange
December 1, 2017
