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Foreign Exchange Reserves, 1950-2005 (in billions of US dollars) End of Year Forex Reserves End of Year Forex Reserves End of Year ForexReserves 1950 0.157 1969 0.483 1988 3.372 1951 0.045 1970 0.088 1989 5.550 1952 0.108 1971 0.037 1990 11.093 1953 0.090 1972 0.236 1991 21.712 1954 0.088 1973 -0.081 1992 19.443 1955 0.180 1974 0.000 1993 21.199 1956 0.117 1975 0.183 1994 51.620 1957 0.123 1976 0.581 1995 73.597 1958 0.070 1977 0.952 1996 105.049 1959 0.105 1978 0.167 1997 139.890 1960 0.046 1979 0.840 1998 144.959 1961 0.089 1980 -1.296 1999 154.675 1962 0.081 1981 2.708 2000 165.574 1963 0.119 1982 6.986 2001 212.165 1964 0.166 1983 8.901 2002 286.407 1965 0.105 1984 8.220 2003 403.251 1966 0.211 1985 2.644 2004 609.932 1967 0.215 1986 2.072 2005 818.872 1968 0.246 1987 2.923 2011-09-20/en/2011/0920/588.html
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Monthly Foreign Exchange Reserves, 1997 (in billions of US dollars ) End of Month Forex Reserves Jan 108.679 Feb 110.315 Mar 112.055 Apr 114.408 May 117.575 Jun 120.941 Jul 125.946 Aug 130.340 Sep 134.074 Oct 137.897 Nov 138.873 Dec 139.890 2011-09-20/en/2011/0920/583.html
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Monthly Foreign Exchange Reserves, 1996 (in billions of US dollars ) End of Month Forex Reserves Jan 76.107 Feb 79.767 Mar 80.829 Apr 81.824 May 85.002 Jun 86.616 Jul 89.693 Aug 93.193 Sep 95.363 Oct 98.850 Nov 102.306 Dec 105.049 2011-09-20/en/2011/0920/584.html
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Monthly Foreign Exchange Reserves, 1998 (in billions of US dollars ) End of Month Forex Reserves Jan 140.486 Feb 140.333 Mar 140.617 Apr 140.567 May 140.905 Jun 140.510 Jul 140.599 Aug 140.738 Sep 141.107 Oct 143.700 Nov 144.588 Dec 144.959 2011-09-20/en/2011/0920/582.html
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Monthly Foreign Exchange Reserves, 1995 (in billions of US dollars ) End of Month Forex Reserves Jan 54.789 Feb 57.386 Mar 57.963 Apr 59.922 May 60.629 Jun 62.659 Jul 65.594 Aug 67.519 Sep 69.800 Oct 72.998 Nov 74.496 Dec 73.597 2011-09-20/en/2011/0920/585.html
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Monthly Foreign Exchange Reserves, 1994 (in billions of US dollars ) End of Month Forex Reserves Jan 25.161 Feb 27.849 Mar 28.618 Apr 30.142 May 30.550 Jun 31.863 Jul 35.126 Aug 36.304 Sep 39.836 Oct 43.716 Nov 49.023 Dec 51.620 2011-09-20/en/2011/0920/586.html
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Monthly Foreign Exchange Reserves, 1993 (in billions of US dollars ) End of Month Forex Reserves Jan 20.138 Feb 20.280 Mar 19.811 Apr 19.642 May 19.451 Jun 18.877 Jul 18.995 Aug 19.159 Sep 19.620 Oct 19.706 Nov 20.860 Dec 21.199 2011-09-20/en/2011/0920/587.html
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The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange in all provinces, autonomous regions, and municipalities directly under the Central Government; and the branches of the SAFE in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, all the national banks and China UnionPay Co., Ltd., To enhance the monitoring and management of and safeguard the order of overseas bank card transactions, the State Administration of Foreign Exchange (SAFE) decides to organize the collection of the information on overseas bank card transactions in accordance with the Regulations of the People's Republic of China on Foreign Exchange Administration and the Measures for Declaration of Balance of Payments Statistics. Relevant issues are notified as follows: I. Scope of collection The overseas cash withdrawals and consumption via domestically-issued bank cards do not include bank card-based overseas transactions by non-banking payment institutions. (I) The overseas cash withdrawals via a bank card refer to cash withdrawals from the counters and ATMs of overseas financial institutions via domestically-issued bank cards. (II) Overseas consumption via a bank card refers to the a single consumption transaction worth the equivalent of more than RMB 1,000 (exclusive) with overseas brick-and-mortar stores and online franchise merchants via a domestically-issued bank card. The domestically issued bank card herein refers to the bank card issued within China with labels of bank card clearing institutions by a domestic card issuing financial institution (card issuing bank), including but not limited to debit card, and credit card (quasi-credit card and credit card). II. Reporting entity A card issuing bank shall summarize and report all the overseas transaction information via the bank cards it issued per legal person or per head office. Where the information on overseas transactions via the debit card and credit card issued by a card issuing bank is not eligible for consolidated reporting, the card issuing bank could report the information separately. III. Time of reporting The card issuing bank shall report the overseas transactions via the bank card it issued for 24 hours of the previous day before 12:00 at noon every day, Beijing time, which will not be postponed during holidays. The collection will start from September 1, 2017, with the information for the day reported on September 2 for the first time. IV. Channel of reporting The SAFE will launch the foreign exchange administration system for overseas bank card transactions (herein after referred to as bank card management system) on September 1, 2017 to collect the information on overseas bank card transactions through data interface or screen. For data interface, the card issuing bank develops the programs for data interface and uses the message transport system (MTS) of the SAFE for the connection with the bank card management system to report and receive the information on overseas bank card transactions. In the screen model, the card issuing bank logs on to the webpage of the bank card management system to report and receive the information on overseas bank card transactions. In principle, any card issuing bank that is qualified for operating foreign exchange settlements and sales shall ensure the connection with the bank card management system through interfacing; while any card issuing bank that is disqualified for operating foreign exchange settlements and sales shall ensure the connection with the bank card management system via interfacing or screen. The card issuing bank shall access the SAFE's external access network through the private wires for the connection. V. Requirements on reporting Any card issuing bank shall report the information on overseas bank card transactions in the factor and format stipulated by the SAFE (see the Appendix 1: Rules for Collecting the Data on Overseas Bank Card Transactions for more details). (I) The card issuing bank shall ensure the timeliness, integrity and accuracy of the information reported. In case of information errors or omissions due to reversal and misstatement, the card issuing bank is required to timely modify the information and supplement the accurate information. (II) The zero reporting system will be adopted for the reporting. Any card issuing bank who has the overseas card bank transaction function shall report the information as required and conduct zero reporting in case that no overseas card bank transaction has occurred. VI. The overseas bank card transactions reported by the card issuing bank shall be included in the assessment of banks involved in the execution of the regulations for foreign exchange administration. Any card issuing bank that fails to report as required will be subject to relevant regulations and punishments by the SAFE in accordance with the law. VII. To guard against cross-border money laundering and other illicit activities, the SAFE will send to the card issuing banks via the bank card management system the information on individuals involved in overseas bank card transactions and other behaviors that violate regulations. The channels to send the information are the same as those through which the information on overseas bank card transactions is reported. Upon receipt of the information, the car issuing bank shall intensify the day-to-day monitoring and management of overseas bank card transactions, preventing bank cards from becoming the transaction channels for various behaviors that violate laws and regulations. VIII. The SAFE will ensure the security of the cardholder's information identified from the information on the overseas bank card transactions reported by the card issuing bank, in accordance with the law. IX. The card issuing bank shall complete the technical adjustment of its bank card system in time. In accordance with the Schedule for the Launch of the Foreign Exchange Administration System for Overseas Bank Card Transactions (seen Appendix 2) and the Circular of the State Administration of Foreign Exchange on the Operating Procedures for the Collection of Foreign Exchange Data by Financial Institutions (Huifa No. 44 [2015], hereinafter referred to as Operating Procedures), the card issuing bank shall ensure preparatory tasks ranging from application for the codes of financial institutions, network access, installation and access of MTS, development of interface programs, joint debugging and testing, and system access. The interface joint debugging, interface acceptance and access for trial run of the bank card management system will be otherwise noted. The card issuing bank shall submit the Business Survey Form for Overseas Bank Card Transactions (seen Appendix 3) to the local SAFE branches and foreign exchange administrative departments (hereinafter referred to as SAFE branches) before June 12, 2017. SAFE branches shall summarize and submit the forms to the Balance of Payments Department of the SAFE before June 14 (rate@bop.safe). X. SAFE branches shall set up a construction team for the bank card management system comprised of BUs and technical departments and are required to report the contact information of the team to the Balance of Payments Department of the SAFE (rate@bop.safe) before June 5. SAFE branches shall also arrange for the work relating to the bank card management system of the card issuing banks within their jurisdiction in line with the responsibilities defined in the Operating Procedures, and evenly allocate the tasks ranging from code application of financial institutions, network access, and MTS installation and access, to joint debugging and testing, and system acceptance based on the schedule for system launch and the realities of the regions, and formulate the Worksheet of the Foreign Exchange Administration System for Overseas Bank Card Transactions (see Appendix 4) and submit it to the Science and Technology Department of the SAFE (app@ic.safe) before June 14. During the implementation, SAFE branches shall collect and review the applications of the card issuing banks within their jurisdictions and submit them to the Science and Technology Department of the SAFE, based on the time requirements of the Worksheet, and urge and coordinate the card issuing banks in completing relevant work and regularly report it to the Science and Technology Department of the SAFE. XI. This Circular will come into force as of the date of promulgation. Starting from September 1, 2017, of the access data on the individuals' foreign currency banknotes, those that involve the overseas withdrawals of foreign currency banknotes will not be reported any more (see the Circular of the State Administration of Foreign Exchange on Issuing the Standards Version 1.1 for Collecting Data on Foreign Exchange Transactions by Financial Institutions (Huifa No. 22 [2016]) for details). Upon receipt of this Circular, SAFE branches shall immediately forward it to the central sub-branches, urban commercial banks, rural commercial banks, wholly foreign-funded banks, Chinese-foreign equity joint venture banks, branches of foreign banks and rural cooperative financial institutions and village and town banks within their respective jurisdictions. Business contact number: 010-68402399 Technical contact number: 010-68402022, 2043 (for private wire access) 010-68402424 (for access to MTS) 010-68402417, 2674 (for collection standardization and joint debugging for data reporting) Appendices: 1. Rules for Collecting the Data on Overseas Bank Card Transactions 2. Schedule for the Launch of the Foreign Exchange Administration System for Overseas Bank Card Transactions 3. Business Survey Form for Overseas Bank Card Transactions 4. Worksheet of the Foreign Exchange Administration System for Overseas Bank Card Transactions State Administration of Foreign Exchange May 26, 2017 FILE: Rules for Collecting the Data on Overseas Bank Card Transactions FILE: Schedule for the Launch of the Foreign Exchange Administration System for Overseas Bank Card Transactions FILE: Business Survey Form for Overseas Bank Card Transactions FILE: Worksheet of the Foreign Exchange Administration System for Overseas Bank Card Transactions 2017-06-02/en/2017/0602/1307.html
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The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government; the branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo; all national banks, and China UnionPay Co., Ltd.: In accordance with the Circular of the State Administration of Foreign Exchange on Financial Institutions Reporting Information on Overseas Transactions with Bank Cards (Huifa No. 15 [2017]), the issues concerning the commissioning, acceptance review and trial run for the domestic card issuing financial institutions (issuing bank) accessing the foreign exchange administration system for overseas transactions with bank cards (bank card administration system) are notified as follows: I. Commissioning schedule (I) Preparation for the access of issuing banks 1. Issuing banks shall be responsible for the development of interface programs. They shall retrieve from their own systems the original transaction data through the interface program and generate standard data files as required. Data files in XML shall be reported through data interface and those in XLS (i.e. excel files) through screen. Issuing banks shall develop a program to process errors reported by the State Administration of Foreign Exchange (SAFE) and re-report in time, as well as saving and handling the records from the SAFE on overseas transactions with banks cards that violate regulations. 2. Issuing banks shall be connected to the SAFE through leased lines and apply to local SAFE branches or administrative departments (SAFE branches) for the financial institution code and the head office-level financial institution identification code. (II) Commissioning requirements 1. The SAFE shall provide issuing banks with the testing environment of the bank card administration system (bank edition) to be used for the commissioning of the access program and acceptance review. 2. Issuing banks shall configure the system in accordance with the Handbook for Configuring Testing Environment of the Foreign Exchange Administration System for Overseas Transactions with Bank Cards (Bank Edition) (visit the SAFE's bank information portal at http://banksvc.safe for "downloads", or apply to local SAFE branches, the same below for obtaining files and forms), and then visit the testing environment of the bank card administration system (bank edition), with the method detailed in the User Manual on Testing Environment of the Foreign Exchange Administration System for Overseas Transactions with Bank Cards (Bank Edition). 3. Issuing banks who use the SAFE's MTS to report data through the data interface also need to apply to the local SAFE branches for opening the MTS commissioning environment for the bank card administration system. Moreover, they shall complete configuration and access in accordance with the MTS Installation and Deployment Handbook (Bank Edition) and MTS Business Interface Configuration Manual, with the way to use MTS detailed in the User Manual of MTS for Banks. 4. All the issuing banks that report data through data interface or screen shall conduct commissioning in accordance with the Scheme for Interface Program Commissioning for the Foreign Exchange Administration System for Overseas Transactions with Bank Cards. II. Acceptance review schedule (I) Issuing banks shall pass the acceptance review by the SAFE before officially accessing the system. Subject to the organization by the SAFE, acceptance review shall be carried out by SAFE branches, who shall arrange for the participation of staff from the balance of payments and technical departments in the acceptance review and conduct acceptance review in the domicile of the legal persons of issuing banks. For the process of acceptance review, please refer to the Acceptance Review Requirements for the Interface Program of the Foreign Exchange Administration System for Overseas Transactions with Bank Cards (Acceptance Review Requirements). (II) Satisfying relevant conditions in the Acceptance Review Requirements, issuing banks shall apply to the local SAFE branch for acceptance review. (III) Issuing banks who fail to pass the acceptance review shall organize rectification in time, and reapply for acceptance review after rectification. They shall pass the acceptance review no later than August 21, 2017. Issuing banks shall report the modification of their own systems or interface programs to the local SAFE branch in time. In case of significant modifications, SAFE branches may require acceptance review again. III. Trial run schedule (I) The SAFE will organize trial run of the bank card administration system between August 21 and August 31, 2017. (II) SAFE branches shall complete acceptance review of the issuing banks within their jurisdictions before August 21, 2017. They shall apply for the opening of the access to the MTS production environment for the bank card administration system for issuing banks within their jurisdictions that pass the acceptance review, in accordance with the Explanations on the Commissioning and Launch of MTS. At the same time, they shall complete the business entry work for issuing banks within their jurisdictions that pass the acceptance review in the bank card administration system (SAFE edition). (III) Issuing banks shall complete network configuration, environment setting for customers and user maintenance no later than August 21, 2017, and log on to the bank card administration system (bank edition) at the SAFE's bank information portal to maintain basic information. For the operation of the setup for access to the bank card administration system (bank edition), please refer to the Setup Manual for Access to Foreign Exchange Application System (bank edition). (IV) From August 21 onward, issuing banks shall report the information on overseas transactions with bank cards of the previous day by 12:00 at noon of the second day, Beijing time, in accordance with the rules for data acquisition from overseas transactions with bank cards. Issuing banks that report data through data interface shall configure production environment access in line with the MTS Business Interface Configuration Manual; and those that report data through screen are required to report data in the bank card administration system (bank edition). (V) SAFE branches shall urge issuing banks within their jurisdictions to ensure smooth trial run, and monitor data reporting by issuing banks in time. For any problems, SAFE branches shall report them to the Balance of Payments Department and the Science and Technology Department of the SAFE. IV. Other (I) Any issuing bank that has launched the overseas transaction business with bank cards shall access the bank card foreign exchange administration system to report the information on overseas transactions with bank cards to the SAFE in accordance with the Huifa No. 15 document and this Circular. Any issuing bank that is not able to access the bank card foreign exchange administration system to report the information on overseas transactions with bank cards to the SAFE shall suspend this business from September 1 until it is able to perform the reporting obligation again. (II) Domestic financial institutions that will launch the bank card business after September 1, 2017 shall not launch this business before meeting the conditions for accessing the bank card foreign exchange administration system. V. Upon receipt of this Circular, the SAFE branches shall immediately forward it to the central sub-branches, urban commercial banks, rural commercial banks, wholly foreign-owned banks, Sino-foreign joint venture banks, branches of foreign banks, rural cooperative financial institutions, and village and town banks within their respective jurisdiction. Tel. for business: 010-68402399, 68402271 Tel. for technology: 010-68402656, 68402674 General Affairs Department of the State Administration of Foreign Exchange July 29, 2017 2017-08-03/en/2017/1227/1308.html
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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 further deepen the foreign exchange administration reform, streamline administration and delegate powers, support the development of the real economy, promote trade and investment facilitation, and build and refine the capital flow management system under the macro-prudential management framework, we hereby provide notification on the relevant measures as follows: I. Expanding the scope of foreign exchange settlements for domestic foreign exchange loans. Foreign exchange settlements will be allowed for domestic foreign exchange loans for exports under trade in goods. Domestic institutions shall repay the loans with foreign exchange proceeds from exports under trade in goods, and in principle, they are not allowed to make repayment through buying foreign exchange. II. Allowing funds for overseas loans under domestic guarantees to be transferred back for domestic use. Debtors can transfer back, directly or indirectly, the funds under guarantees for domestic use through issuing loans to or equity participation in domestic institutions. Where the performance of guarantee occurs to a bank for overseas loans under domestic guarantees, the relevant foreign exchange settlements and sales will be included in the management of its own settlements and sales of foreign exchange. III. Providing further convenience for centralized operation and management of foreign exchange funds by multinationals. Under the principle of macro-prudential management, the share of the deposits attracted by domestic banks through the international foreign exchange master account for domestic use will be adjusted from being no higher than 50% of the daily average balance of deposits over the last 6 months into 100%; and the funds for domestic use shall not use the quota for outstanding short-term external debt. IV. Allowing overseas institutions in pilot free trade zones to have their foreign exchange settled through the non-resident account. Where RMB is transferred for domestic use after settlements of foreign exchange, domestic banks shall first review the valid commercial documents and vouchers of domestic institutions and individuals concerned, in accordance with the relevant provisions on cross-border deals. V. Further standardizing foreign exchange administration for trade in goods. Domestic institutions shall undergo the procedures of foreign exchange receipts and payments under trade in the principle of "whoever exports shall receive foreign exchange, and whoever imports shall make payments". They are required to go through the procedures of foreign exchange receipts on time, unless otherwise specified by the SAFE. VI. Enhancing statistics collection of foreign exchange revenues under the current account that are deposited overseas. Where a domestic institution deposits overseas its export revenues or revenues from trade in services, but fails to undergo registration and filing procedures for foreign exchange administration or report relevant information in accordance with the Circular of the SAFE on Printing and Distributing the Regulations on Foreign Exchange Administration for Trade in Goods (Huifa No. 38 [2012]), and the Circular of the SAFE on Printing and Distributing the Regulations on Foreign Exchange Administration for Trade in Services (Huifa No. 30 [2013]), the domestic institution shall report relevant information within one month after the release of this Circular. VII. Continuing to perform and refine the outward remittance administration policy for foreign exchange profits under ODI. In handling outward remittances of profits in the amount equivalent to USD 50,000 (exclusive) for domestic institutions, banks shall review the profit distribution resolution of the board of directors (or the partners), the original tax return filing form, and audited financial statements that are related to this outward remittance of the profits and affix the seal and endorsement to the original tax return filing form indicating the amount and date of the remittance. The domestic institution shall make up for the losses incurred in previous years before remitting the profits overseas. VIII. Enhancing authenticity and compliance reviews for ODI. When going through ODI registration and outward remittance procedures, a domestic institution shall explain to the bank the sources and purposes (use plan) of the investment funds, and present to the bank the resolutions of the board of directors (or of the partners), contracts and other authenticity evidencing materials, in addition to submitting relevant review materials as required. Banks shall enhance authenticity and compliance reviews under the business operation principles. IX. Adopting the management of full-scale overseas loans in domestic and foreign currencies. In issuing overseas loans, a domestic institution shall make sure the sum of the outstanding overseas loans in the domestic currency and those in foreign currencies is no higher than 30% of its owner's equity in the audited financial statements for the previous year. X. Any violation of this Circular will be subject to legal punishments by the SAFE in accordance with the Regulations of the People's Republic of China on Foreign Exchange Administration. XI. This Circular will be implemented as of the date of promulgation, and interpreted by the SAFE. The SAFE will regularly assess the outcomes of policy implementation and make adjustments in line with the balance of payments. This Circular shall prevail where there are inconsistencies between previous provisions and this Circular. Upon receipt of this Circular, the branches and foreign exchange administration departments shall immediately forward it to the central sub-branches, sub-branches and designated foreign exchange banks within your respective jurisdiction for implementation. 2017-01-26/en/2017/0126/1303.html