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国家外汇管理局统计数据显示，截至2026年1月末，我国外汇储备规模为33991亿美元，较2025年12月末上升412亿美元，升幅为1.23%。 2026年1月，受主要经济体财政政策、货币政策及预期等因素影响，美元指数下跌，全球主要金融资产价格总体上涨。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经济运行稳中有进，发展韧性进一步彰显，为外汇储备规模保持基本稳定提供支撑。 2026-02-09/ningbo/2026/0209/2522.html
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2025年12月，我国国际收支货物和服务贸易进出口规模52808亿元。其中，货物贸易出口26647亿元，进口18114亿元，顺差8533亿元；服务贸易出口3541亿元，进口4507亿元，逆差966亿元。服务贸易主要项目为：旅行服务进出口规模2301亿元，运输服务进出口规模2050亿元，其他商业服务进出口规模1491亿元，电信、计算机和信息服务进出口规模1025亿元。 按美元计值，2025年12月，我国国际收支货物和服务贸易出口4276亿美元，进口3204亿美元，顺差1072亿美元。 2026-02-03/ningbo/2026/0203/2520.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 SAFE branches in Shenzhen, Dalian , Qingdao , Xiamen , and Ningbo ; and all designated Chinese-funded foreign exchange banks: For the purpose of regulating the banksown foreign exchange settlement and sales business, facilitating banking operations, and guarding against balance of payments risks, the relevant issues are hereby notified as follows in accordance with the Regulations of the People's Republic of China on Foreign Exchange Administration and other provisions: 1. The banksown foreign exchange settlement and sales business referred to in this Circular refers to the exchange business between RMB and foreign currencies arising from the banksown operating activities, excluding the banksforeign exchange settlement and sales business for their clients and transactions of the synthetic positions in foreign exchange settlement and sales conducted in the inter-bank foreign exchange market. 2. The State Administration of Foreign Exchange and its branches (hereinafter referred to as the foreign exchange authorities) shall be responsible for the supervision and administration of the banksown foreign exchange settlement and sales business. The relevant responsibilities are divided as follows: (1) The SAFE shall be responsible for the supervision and management of the policy banks, state-owned commercial banks, national joint-stock banks, and the postal savings banks; (2) The local branches and administrative departments of the SAFE (hereinafter referred to as the SAFE branches) shall be responsible for the supervision and management of the local banks, including urban commercial banks, rural commercial banks, rural cooperative banks, urban credit cooperatives, rural credit cooperatives, and village and town banks, as well as foreign-funded banks, or may authorize the central sub-branches or sub-branches to supervise and manage the said banks within their respective jurisdictions according to the actual business situation of the banks. 3. Foreign exchange income earned from the banks business, after deducting for payments of foreign exchange expenses and payments of expenses for foreign exchange settled to RMB required for the daily operations of domestic foreign exchange business, shall be incorporated into the foreign exchange profits under unified management, and the foreign exchange settlements shall not be conducted separately. 4. Where domestic banks make advance payments for expenditures on domestic trade in services on behalf of the associated overseas banks, they may subsequently conduct a self-examination of the foreign exchange funds received from the associated overseas banks and retain the relevant instruments proving authenticity before the foreign exchange settlement is conducted. Where the associated overseas banks make advance payments for expenditures on overseas trade in services on behalf of domestic banks, the domestic banks may conduct a self-examination and retain the instruments proving authenticity before purchasing the foreign exchange to pay the associated overseas banks. The banks shall clear up the external debts or claims incurred by the advance payments in a timely manner. The terms for repaying the advance payments (the time interval between the date when the advance payment actually occurs and the date of repayment) shall not exceed six months. 5. Where foreign-funded banks settle foreign exchange to pay for RMB expenses required for the daily operations of their domestic foreign exchange business, the said banks shall conduct a self-examination and retain the relevant instruments proving authenticity before engaging in this business according to the law. Foreign exchange settlement may be conducted in advance on a monthly basis or in accordance with the actual expenditure. If the foreign exchange is settled in advance on a monthly basis, the amount shall not exceed 105% of the actual expenditures in RMB of the last month, and if the amount is insufficient it shall be further settled in accordance with the actual expenditures; any unused portion of the foreign exchange funds settled in advance in the current month shall be carried forward to the next month. 6. Where banks withdraw the business tax, interest tax, or other taxes in foreign currency but need to pay the tax authorities with RMB settled from foreign exchange funds, the banks shall conduct a self-examination and retain the instruments proving authenticity before payment. The taxes that the banks themselves should pay shall be incorporated into their own foreign exchange settlement and sales; the taxes withheld and paid according to the law shall be incorporated into the foreign exchange settlement and sales on behalf of clients. 7. The banks may settle on their own the years foreign exchange profits (including foreign exchange profits from domestic institutions, profits contributed by overseas branches, and profits earned through the holding of shares in foreign institutions) in accordance with the results of the financial accounting after each quarter of the same year, which shall be automatically adjusted according to the annual results of the final audit. Foreign exchange losses shall be charged to the account and supplemented by using the annual foreign exchange profits of subsequent years. Settlement of foreign exchange profits retained from previous years may be handled by the banks themselves in subsequent years. The foreign exchange authorities may revise the policy on the settlement of foreign exchange profits of the aforesaid banks in line with the balance of payments situation. 8. Payments of foreign shareholders' dividends, bonuses, or remittances of profits of foreign-funded banks shall be made by the banks themselves with the foreign exchange in their possession or with foreign exchange purchased with RMB, and the banks shall retain the following documents for future reference: (1) The balance sheets, profit and loss statements, and consolidated auditor's reports prepared in domestic and foreign currencies; (2) The tax clearance certificates; (3) The relevant resolutions of the board of directors or of the general meeting of the shareholders, or the notices of funds transfers issued by the head office of the foreign-funded bank. 9. The banks shall, prior to the end of June of each year, submit (for the record) to the foreign authorities reports on the treatment of foreign exchange profits, which shall include the following information: (1) Basic information on foreign exchange profits or losses of the last year (see the form in Annex 1); (2) The balance sheets in foreign currency and the profit and loss statements in foreign currency of the last year; (3) The consolidated auditor's reports prepared in domestic and foreign currencies. 10. The domestic and foreign currency conversion of the (working) capital of the banks shall be carried out in accordance with the following requirements after approval by the foreign exchange authorities: (1) The amount applied by the banks for domestic and foreign currency conversion shall satisfy the following requirements: i. The value of "(the owners equity in foreign exchange + the working capital in foreign exchange)/assets in foreign exchange" after completion of the domestic and foreign currency conversion shall be basically equivalent to that of "the owners equity in RMB + the working capital in RMB)/assets in RMB"; ii. The aforesaid data shall be calculated on the basis of the balance sheets of domestic banking institutions, excluding the associated overseas banks; working capital and owner's equity shall not be repeatedly calculated; undistributed foreign exchange profits shall be deducted in the calculation of the owners equity in foreign exchange; part of the assets in foreign exchange due to policy-related factors may be deducted in the calculation of the assets in foreign exchange; the average of the values of the inter-bank deposits/lending at the end of each of the preceding four quarters before applying for the foreign exchange settlement shall be included in the calculation of the assets in RMB. iii. Chinese-funded banks that are new participants in the foreign exchange business or foreign-funded banks that are new participants in the RMB business in their first application may apply for domestic and foreign currency conversion for no more than 10% of the capital; iv. Where there are specific requirements with respect to the currency by the banking regulatory departments or due to other special situations, they will not be not subject to the provisions set forth in item i above. (2) The banks shall submit the following documents at the time of application: i. Application report; ii. Balance sheets in RMB and foreign currency; iii. The basis for the calculation of the amount of domestic and foreign currency conversion; iv. Where the relevant transactions require the approval of the banking regulatory departments, copies of the relevant approval documents shall be provided; v. Other documents as required by the foreign exchange authorities. (3) In principle, a bank shall not submit an application more than once each year, and it shall submit its plan to the relevant foreign exchange authority in January or July of each year as required in Annex 2. (4) Any application in which the single amount accepted by the SAFE branch exceeds the equivalent of USD300 million (inclusive) shall, after a preliminary examination, be submitted to the SAFE for approval. (5) The foreign exchange authorities may impose restrictions on the amount and timing of the domestic and foreign currency conversion of the (working) capital of the banks in line with the balance of payments situation. (6) Where the banks purchase foreign exchange for overseas direct investments, the Circular of the SAFE on Relevant Issues Concerning Foreign Exchange Administration of Overseas Direct Investments by Domestic Banks (Huifa No. 31 [2010]) shall apply, and the above provisions in this Article are not applicable. 11. Where foreign banks prepare to establish branches or subsidiary banks, they may open foreign exchange accounts with domestic commercial banks upon the strength of the approval documents prepared for the relevant authorities, after approval by the local foreign exchange authorities, for the expenses incurred during the period of preparation, during which the total funds transferred into the account shall not exceed 5% of the registered capital (or the working capital) of the proposed institutions; instruments proving the authenticity of the foreign exchange settlement of the accounts may be submitted directly to the account-opening banks which shall, in turn, conduct an examination thereof before engaging in this business; when the preparations to establish branches or subsidiary banks come to an end, the residual funds in the accounts shall be returned or shall be used as part of the capital (or the working capital), and the accounts shall be closed accordingly. The above accounts shall not be managed as domestic foreign exchange accounts for foreign institutions (NRA accounts), and the fund balances shall not be incorporated into the short-term external debt quotas of the account-opening banks. 12. Where the shutdown or liquidation of the branches and/or subsidiary banks of the foreign banks occur, the relevant formalities for foreign exchange purchases or payments may be handled upon the strength of the approval documents of the relevant authorities, the accounting statements, and the auditor's reports after approval by the local foreign exchange authorities. 13. Where there is a currency mismatch between the funds (including the interest) collected and the originally granted funds, and a necessity to handle foreign exchange settlement or sales on behalf of debtors, the business operations of the banks shall be handled as follows: (1) For handling foreign exchange settlement or sales on behalf of debtors, the following two conditions shall be satisfied: i. The debtors are unable to handle the foreign exchange settlement and sales transactions by themselves due to bankruptcy, closures, suspension of business for rectification, poor operations, or legal disputes with the banks; ii. The sources, including but not limited to judgments by the courts, awards by arbitration institutions, realization of non-monetary assets under mortgages or pledges (the value of which shall be assessed by the relevant assessment department if for self-use) and withholding security deposits, and so forth, of funds obtained by the banks from the debtors or their guarantors are legal. (2) Where the banks apply to the foreign exchange authorities for foreign exchange settlement or sales on behalf of debtors, the following documents shall be submitted: i. Written materials that prove the creditor's rights against the debtors, such as contracts, vouchers, and judgments by the courts, etc.; ii. Written materials that prove the sources of the funds for foreign exchange settlement and sales, such as certificates of the funds arrival, etc.; iii. Where there are requirements for registration and filing according to the provisions on foreign exchange administration, documents that prove that the relevant formalities have been conducted. iv. Other documents as required by the foreign exchange authorities. (3) Where the banks intend to operate foreign exchange settlement or sales business on behalf of debtors, they shall submit applications thereof to the local SAFE branches for approval. The SAFE branches may, in light of the actual business situation, authorize the central sub-branches or sub-branches within their respective jurisdictions to directly approve the applications. (4) Where there is a currency mismatch between the currency of the assets and the currency recovered, such as the recovery of loans in China by overseas banks, the banks may entrust the associated domestic banks to apply to handle the foreign exchange settlement or sales on behalf of the debtors in accordance with the above provisions of this Article. (5) Where there is a currency mismatch in the transfer of the domestic equity by the banks in accordance with the laws, documents proving authenticity and compliance shall be submitted with reference to the provisions in item (2) of this Article, and the business shall be handled in accordance with the procedures provided in item (3) of this Article. 14. Where the banks suffer any losses in their operation of the business, such as with foreign exchange loans, due to the fact that the creditor's rights fail to be recovered or are transferred, the banks shall offset the losses according to the foreign exchange provisions for bad debts or by purchasing the foreign exchange themselves with the equivalent RMB provided for bad debts in accordance with the relevant accounting system. 15. Unless otherwise provided for by the state, foreign exchange purchases under the trade in goods of the banks themselves shall be handled in accordance with the relevant provisions for import agents. 16. For foreign exchange purchases under trade in services, the income and current transfers of the banks themselves shall be handled after a self-examination and retention of the relevant instruments proving authenticity by the banks. 17. The foreign exchange settlement and sales business of banks that are not qualified for foreign exchange settlement and sales shall be handled through other banks which are qualified thereof; the foreign exchange settlement and sales business of banks that are qualified for such business shall not be handled through any other banks. 18. The banks' own foreign exchange settlement and sales business shall be subject to the foreign exchange settlement and sales statistics in accordance with the relevant provisions on foreign exchange administration, and the block transactions shall be recorded in the Daily Statement on the Synthetic Positions in the Foreign Exchange Settlement and Sales. 19. Penalties shall be imposed by the foreign exchange authorities, in accordance with the Regulations of the Peoples Republic of China on Foreign Exchange Administration and other relevant regulations, on banks that violate the in this Circular. 20. The relevant terms used in this Circular refer to the following: (1) "Working capital in RMB" refers to the working capital in RMB allocated by foreign banks to domestic branches (including working capital in RMB after the settlement of foreign exchange); "working capital in foreign exchange" refers to working capital in foreign exchange allocated by foreign banks to domestic branches and capital purchased by domestic corporate banks with their own RMB and accounted for under the working capital in foreign exchange. (2) Associated banks include the banks with a head office/branch relationship or a parent/subsidiary bank relationship, branches or subsidiary banks under the control of the same institution, and banks with a cooperative relationship under the same syndicated loan. 21. This Circular shall come into force as of July 1, 2011. Simultaneously, the Circular of the State Administration of Foreign Exchange on the Approval Principles and Procedures for Banks' Foreign Exchange Settlement and Sales under their Own Capital and Financial Account (Huifa No. 61 [2004]) and the Circular of the State Administration of Foreign Exchange on the Principles for Handling Foreign Exchange Advances under a Letter of Credit from a Designated Chinese-funded Foreign Exchange Banks (Huifa No. 56 [2002]) shall be repealed. Also simultaneously, the provision "3.2: Approval for foreign exchange settlement of foreign exchange profits of banks" and provision "4.1: Approval for outward remittances of net profits in foreign exchange or outward remittances of foreign exchange purchased with net profits in RMB of foreign-funded banks and/or Chinese-funded banks with equity in foreign capital" on the List of Administrative Licensing Items of the State Administration of Foreign Exchange (Huifa No. 43 [2010]) shall be declared invalid. If there are any discrepancies between any previous provisions and this Circular, this Circular shall prevail. After receiving this Circular, all branches and foreign exchange administrative departments shall, as soon as possible, forward it to all central sub-branches, sub-branches, and Chinese-funded and foreign-funded financial institutions. In cases of any problems encountered during implementation, please immediately report them to the Balance of Payments Department of the State Administration of Foreign Exchange. Tel.: 010-68402313, 68402295; Fax: 68402315. 2011-06-13/en/2011/0613/726.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; and the designated national foreign exchange banks: In order to enhance the capability of financial institutions to provide clients with services to hedge against exchange-rate risks, the following issues concerning the joint handling of forward settlement and sales of foreign exchange are hereby notified in accordance with the Regulations of the Peoples Republic of China on Foreign Exchange Administration and other relevant regulations: 1. The "joint handling of forward settlement and sales of foreign exchange refers to collaboration between a domestic bank and its branches that are not qualified to handle the forward settlement and sales of foreign exchange (hereinafter referred to as the cooperating banks) and a bank and its branches that are qualified to handle the aforesaid business (hereinafter referred to as the qualified bank) for the joint handling of forward settlement and sales of foreign exchange. 2. The head office (or main office) of a cooperating bank shall meet the following requirements: (1) It must be qualified to operate spot settlement and sales of foreign exchange as ratified by the SAFE or its branches and sub-branches (hereinafter referred to as the foreign exchange authority) and must have engaged in the settlement and sales of foreign exchange for more than two years (inclusive); (2) It should be free from all significant irregularities in the operation of spot settlement and sales of foreign exchange for the past two years (inclusive); (3) Its average quarterly balance of foreign exchange assets for the previous year is equivalent to more than USD20 million (inclusive); (4) It ranks as Grade-B or above in the appraisal of its compliance with the foreign exchange administration regulations for the past two years; (5) It has a complete system for the management of joint handling of forward settlement and sales of foreign exchange; (6) Other qualifications as required by the foreign exchange authority. The branches or sub-branches of the cooperating bank shall obtain authorization from the head offices (or main offices) thereof, and shall satisfy the requirements in foregoing items (1), (2), and (4). 3. A qualified bank shall meet the following requirements: (1) Its head office will have obtained qualifications to act as a forward-swap market maker or a general market maker on the inter-bank foreign exchange market; (2) It is free from any significant irregularities in the operation of foreign exchange settlement and sales during the past two years (inclusive); (3) It has a complete system for the management of joint handling of forward settlement and sales of foreign exchange; (4) It ranks Grade-B or above in the previous years appraisal of its compliance with the foreign exchange administration regulations; (5) Other qualifications as required by the foreign exchange authority. 4. A cooperating bank shall file an application with the foreign exchange authority in its locality for the joint handling of forward settlement and sales of foreign exchange. If the foreign exchange authority thereof is a central sub-branch or sub-branch of the SAFE, the foreign exchange authority thereof shall complete the preliminary examination within 20 working days as of the date of acceptance, and shall submit the results thereof to the relevant branch (or relevant administrative office) of the SAFE (hereinafter referred to as the foreign exchange branch) at the higher level. The foreign exchange branch thereof shall, within 20 working days from the date of receipt of the letter of application and other relevant documentation, make a decision as to whether or not to register the relevant application. For financial institutions that meet the relevant requirements, the foreign exchange branch shall issue the Notice of the State Administration of Foreign Exchange __ _ Branch (Administrative Office) on the Registration of the Joint Handling of Forward Settlement and Sales of Foreign Exchange (see Appendix 1), and shall keep the internal-use form thereof. 5. A cooperating bank shall, when applying for the joint handling of forward settlement and sales of foreign exchange, submit to the local foreign exchange authority the following materials: (1) A letter of application; (2) The management system for the joint handling of forward settlement and sales of foreign exchange, which includes instructions for business operations, assignment of internal responsibilities, the statistical reporting system, the risk control measures, accounting systems, and so forth; (3) A template cooperation agreement signed with a qualified bank, in which the rights and obligations of both parties are specified; (4) If the applicant is a branch or sub-branch of a bank, the applicant thereof shall, in addition to the aforesaid materials, submit to the relevant authorities the notice on the registration of the joint handling of forward settlement and sale of foreign exchange (in duplicate) which is granted by its head office (or main office) and the authorization documents from the same. (5) Other documentation and materials as required by the local foreign exchange authority. 6. A cooperating bank shall comply with the following provisions when cooperating with a qualified bank for the handling of forward settlement and sales of foreign exchange: (1) It shall abide by the existing regulations on the administration of forward settlement and sales of foreign exchange and it shall sign an agreement on the joint handling of forward settlement and sales of foreign exchange with the qualified bank and the client; (2) It shall examine the regulatory compliance of its customer in the signing and fulfillment of the agreement on the handling of forward settlement and sales of foreign exchange, carry out separate accounting by creating specific accounts for the forward settlement and sales of foreign exchange, and close positions with the qualified bank on a case-by-case basis for its handling of forward foreign exchange settlement and sales for its customers. (3) The qualified bank shall consider the joint handling of forward settlement and sales of foreign exchange to be forward settlement and sales of foreign exchange on behalf of its customers (the trading entity shall be determined based on the nature of the customers), which shall be incorporated into its comprehensive position of the settlement and sale of foreign exchange for statistical and management purposes, and shall submit the relevant statistical statements to the foreign exchange authority in compliance with the requirements of banks regarding statistics on foreign exchange settlement and sales and so forth. The cooperating bank shall assist the qualified bank in fulfilling the statistical obligations; (4) The cooperating bank shall, within the first 5 working days of each month, submit to the local foreign exchange authority the Statistical Statement on the Joint Handling of Forward Settlement and Sales of Foreign Exchange (see Appendix 2). 7. The joint handling of forward settlement and sales of foreign exchange shall be incorporated into the annual appraisal of the qualified bank and cooperating bank by the local foreign exchange authority. If a cooperating bank is involved in significant irregularities in the operation of the foreign exchange settlement and sales, or is scored a Grade-C in the annual appraisal, its qualifications to operate forward settlement and sales of foreign exchange shall be suspended thereby. If a qualified bank is involved in significant irregularities in the operation of the foreign exchange settlement and sales, or fails to meet the requirements as stated in Article 3 of this Circular, the foreign exchange authority shall notify the cooperating bank in a timely manner of the termination of the cooperation with the aforesaid qualified bank for the joint handling of forward settlement and sales of foreign exchange. 8. A cooperating bank shall, when supplementing or changing its cooperating partner or when terminating the cooperation with a partner, report the relevant circumstances to the local foreign exchange authority for the record 20 working days before the relevant supplement, alteration, or termination is implemented. 9. Foreign exchange branches shall, within the first 10 working days of each year, complete and submit the List on the Joint Handling of Forward Settlement and Sales of Foreign Exchange by Institutions within the Jurisdiction (see Appendix 3) with the relevant data acquired by the end of the previous year, and it shall send it in a timely manner to the information portal Web site of the SAFE (manage@bop.safe). 10. If cooperating bank or a qualified bank handles the forward settlement and sales of foreign exchange in violation of the regulations with a qualified bank or a cooperating bank, penalties shall be imposed on the aforesaid cooperating or qualified bank by the foreign exchange authorities in accordance with the Regulations of the Peoples Republic of China on Foreign Exchange Administration and the relevant regulations. The SAFE branches shall, upon receipt of this Circular, promptly forward it to the central sub-branches and branches of the SAFE as well as to the relevant financial institutions within their respective jurisdictions. If any problems are encountered during implementation, please refer them to the SAFE in a timely manner. Tel: 010-68402374, 68402464. December 1, 2010 FILE: Notice of the SAFE ___ Branch (Administrative Office) on the Registration of Joint Handling of Forward Settlement and Sales of Foreign Exchange (Internal-Use Form) FILE: Statistical Statement on the Joint Handling of Forward Settlement and Sales of Foreign Exchange FILE: List of Institutions within the Jurisdiction involved in the Joint Handling of Forward Settlement and Sales of Foreign 2010-12-28/en/2010/1228/713.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 SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo; and all designated Chinese-funded foreign exchange banks: In order to further reduce the number of administrative licensing items, promote the facilitation of trade and investment, and steadily advance the convertibility of the RMB under the capital account, the State Administration of Foreign Exchange (hereinafter referred to as the SAFE) has decided to cancel or adjust certain approval authorities for foreign exchange businesses under the capital account and to adjust certain administrative measures for trade credit in accordance with the Administrative Licensing Law of the People's Republic of China, the Regulations of the People's Republic of China on Foreign Exchange Administration, and the relevant provisions on foreign exchange administration. You are hereby notified of the relevant matters as follows: I. Cancellation of the Registration and Approval of Overdue Deferred Payments under the Management of Trade-Credit Registration Where an enterprise handles the registration for the withdrawal of deferred payments after 120 days (inclusive) upon the issuance of the import customs declaration by customs, it is not necessary for the enterprise to go through the overdue registration and approval formalities at the local foreign exchange authority, and it is no longer required that a special red mark be assigned to the enterprise in the Trade Credit Registration Management System. The relevant provisions of Section 12.9 "The Base Ratio and Quota for Deferred Payments, and Overdue Registration and Approval for Deferred Payments for Imports by Domestic Enterprises," with respect to the overdue registration of deferred payments for imports of domestic enterprises, of the List of the State Administration of Foreign Exchange of Administrative Licensing Items (HuiFa No. 43 [2010], hereinafter referred to as the List) shall be invalidated, and the title of Section 12.9 shall be changed to "Approval of the Base Ratio for Deferred Payments and the Quota for Deferred Payments for Imports of Domestic Enterprises." II. Cancellation of the examination and approval for the return of foreign exchange under advance payments in the management of trade-credit registration. Where foreign exchange from an advance payment of an enterprise is returned, the enterprise can directly log into the Trade Credit Registration Management System to go through the cancellation procedures, as well as the formalities of entering the returned funds into the account in accordance with the relevant regulations on foreign exchange administration of the current account. Section 20.5 of the List "The Examination and Approval of Returns of Foreign Exchange under Advance Payments for Imports of the Enterprise" shall be invalidated. III. Cancellation of the Recording Procedure for the Transfer of Foreign Exchange obtained through a Reduction of State-owned Shares in Overseas Listed Companies to the National Social Security Fund. The designated foreign exchange banks are authorized to directly transfer the foreign exchange obtained through a reduction of state-owned shares in overseas listed companies to the national social security fund. Domestic companies may apply to the banks where the domestic special accounts are opened for the transfer of the foreign exchange to the special foreign exchange accounts of the Ministry of Finance upon the authorization of the explanatory documents for turning over capital obtained through a reduction of state-owned shares and relevant authentic evidentiary materials (see the Annex for the relevant operational rules). Section 23.7 "The Recording Procedures for the Transfer of Foreign Exchange Capital Obtained through a Reduction of State-owned Shares in Overseas Listed Companies to the National Social Security Fund" on the List shall be invalidated. IV. Certain Approval Authorities to Check and Ratify the Quota for the Balance of External Financing Guarantees are Delegated by the SAFE to the Branches and Foreign Exchange Administrative Departments The branches and foreign exchange administrative departments of the SAFE (hereinafter referred to as the Branches) are authorized to check and ratify the quotas for the balance of the external financing guarantees (excluding those explicitly stipulated to be ratified by the SAFE) for the designated foreign exchange banks registered within their jurisdictions in accordance with the current regulations on the administration of external guarantees, and to submit the information item by item upon checking and ratification of the quotas to the SAFE for the record. The Branches shall submit information on the implementation of the quotas for the balance of the external guarantees provided by the guarantors to the SAFE within their jurisdictions on a quarterly basis. V. Increase in the base ratio for advance payments of goods under trade credit from 30 percent to 50 percent. After cancellation or adjustment of the above approval authorities and the administrative measures for trade credit, the Branches and the designated foreign exchange banks shall improve the relevant internal control management system, strengthen personnel training, and strictly implement the provisions hereof. The Branches shall increase efforts for ex-post supervision and inspection and further strengthen statistics and monitoring. This Circular shall come into force as of June 1, 2011. All branches shall promptly forward this Circular to all central sub-branches, sub-branches, and banks within their respective jurisdictions; all Chinese-funded banks shall promptly forward it to their branches/sub-branches. In the case of any problems encountered during implementation, please send feedback to the Capital Account Management Department of the SAFE in a timely manner. Tel.: 010-68402250. May 23, 2011 FILE: Operating Rules on Handling Relevant Businesses by Designated Foreign Exchange Banks.eng 2011-05-27/en/2011/0527/725.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 of the SAFE in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo: In order to maintain an equilibrium in the balance of payments and strengthen the management of liquidity, the State Administration of Foreign Exchange has decided to further reduce the aggregate quota for outstanding short-term external debts of domestic institutions in 2011 based on the shrinkage in the relevant quotas in 2010. For the purpose of directing the banks' response to the State's macroeconomic regulatory policy to optimize the structure of the quota allocation, the SAFE has reduced the quotas granted to financial institutions with a relatively higher proportion of borrowing, deposits, and lending, and a relatively larger historical quota, and has appropriately increased the quotas granted to banks that have shown rapid growth in trade financing in recent years and have a relatively small historical quota. Relevant information about the ratification of the quotas for the outstanding short-term external debts of domestic institutions (hereinafter referred to as quotas) for 2011 (April 1, 2011 to March 31, 2012, the same as below) and the relevant management requirements are hereby notified as follows: 1. A quota of a total of USD10.168 billion for some Chinese-funded banks for 2011 has been ratified (see Appendix 1). A quota of a total of USD14.62509 billion for 2011 has been ratified for some legal-person foreign-funded banks and branches of foreign-funded banks that implement centralized administration of their quotas (see Appendix 2). Local quotas of a total of USD7.6078 billion have been ratified for Chinese- and foreign-funded legal-person banks, branches of foreign-funded banks that have not implemented centralized administration of their quotas, and Chinese-funded enterprises and other relevant institutions within the jurisdiction of the SAFE branches and the foreign exchange administrative departments (hereinafter referred to branches) (see Appendix 3). For domestic institutions with quotas that have been adjusted downward, if on the date of reduction of the quota, the outstanding short-term external debt subject to quota control already exceeds the newly-ratified quota, they shall, within 3 monthstime, bring the outstanding short-term external debt subject to actual quota control to within the scope of the newly-ratified quota. 2. All the branches of the SAFE shall allocate and adjust the quotas in an impartial and reasonable manner, based on needs to bolster import financing, strengthen liquidity management, and maintain a BOP equilibrium, as well as based on the utilization of the quota and the structure of fund use by institutions within their jurisdictions. Quotas granted to the locality of each branch in 2011 shall be preferentially allocated for import financing by domestic banks and enterprises. 3. All short-term external debts of financial institutions in any form shall be incorporated into the quota management, with the following exceptions: (1) Accepted but unpaid letters of credit with a maturity of less than 90 days (inclusive) and overseas advances with a maturity of less than 90 days (inclusive). In the event that an issuing bank provides overseas advances after the issuance of the L/C, the term for the L/C issuance and the overseas advances shall not exceed a total of 90 days. In such a case, the overseas advance shall correspond to the import contract and import financing with respect to terms, amounts, and time of payment. (2) Non-resident individual deposits with an amount of less than US$500,000 (inclusive) in the same legal-person bank. (3) Balances in various special accounts for foreign investors opened in the name of non-residents upon the approval of the SAFE. (4) Other cases specified by the SAFE that need not be incorporated into quota management. 4. Policies concerning the borrowing of short-term external debt by Chinese-funded enterprises. (1) After ratification of the quotas, a branch can distribute part of the local quotas for 2011 as balances to Chinese-funded enterprises that have lived up to the relevant standards within its jurisdiction. (2) Quotas awarded to Chinese-funded enterprises after ratification shall only be used for the borrowing of short-term external debt with a contract term of not longer than one year (inclusive). The balance of the outstanding principal of the short-term external debt of Chinese-funded enterprises that is subject to quota administration shall not exceed the scale of the ratified quota. (3) Ratified quotas shall be given to Chinese-funded enterprises in industries that are encouraged and permitted by national industrial policies and that have sound financial status and strong solvency. (4) The short-term external debt borrowed by Chinese-funded enterprises shall not be used for foreign exchange settlement. (5) Chinese-funded enterprises shall borrow the short-term external debt in strict compliance with the relevant regulations for the administration of the external debt that are currently in effect and shall register the external debt on a deal-by-deal basis; the opening of a special account for the external debt and the repayment of the principal and the interest by Chinese-funded enterprises shall be examined and approved by the SAFE. (6) The branches can adjust and utilize the quotas among the financial institutions and Chinese-funded enterprises based on the situation in terms of the quota use of the institutions within their jurisdiction. 5. Each branch of the SAFE shall monitor the outstanding short-term external debt and variations among financial institutions and Chinese-funded enterprises within its jurisdiction, strengthen oversight of quota utilization by financial institutions and Chinese-funded enterprises within its jurisdiction, and submit the Form for the Use of Quotas for Outstanding Short-term External Debts by Institutions within the Jurisdiction of _____ (Region) by the end of ____ Quarter, ____(Year) (Appendix 4) to the Capital Account Administration Department of the SAFE through the email address of the portal Web site of the SAFE (debt@capital.safe) within 15 working days after the end of each quarter. Appendix: Omitted March 30, 2011 2011-04-15/en/2011/0415/722.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: In order to promote a basic equilibrium in the balance of payments of China , the State Administration of Foreign Exchange ("SAFE") has decided to appropriately reduce the aggregate quota for external financing guarantees of domestic banks in 2011 based on the relevant quota in 2010. Relevant information about the ratification of the quotas for the external financing guarantees of domestic banks (hereinafter referred to as quotas) for 2011 and the relevant management requirements are hereby notified as follows: I. A quota of a total of USD76.37622 billion for 2011 has been ratified for some Chinese-funded banks, legal-person foreign-funded banks, and branches of foreign banks. II. As for Chinese-funded banks or legal-person foreign-funded banks, the quota shall be determined on the basis of the Tier 1 capital in both domestic and foreign currency at the end of the previous year; as for branches of foreign banks, the quota shall be determined on the basis of the working capital in both domestic and foreign currency or the net foreign exchange assets at the end of the previous year. The proportion of the upper limit of the quota shall be determined by the SAFE based on the current situation in foreign exchange receipts and payments and the business development of the banks, and so forth. III. The quota for a bank shall come into effect as of the date of issuance and shall continue in force until the date of effectiveness of the quota for the next year. Applications submitted by the banks, within the period of validity, for adjustments of the quotas shall be forwarded to the SAFE for approval through the local branches, sub-branches, or foreign exchange administrative departments of the SAFE (hereinafter referred to as the foreign exchange authorities). IV. Banks with quotas that have been adjusted downward, where on the date of effectiveness of the quota the balance of the external financing guarantee has already exceeded the newly-ratified quota, shall, within 3 months, bring the balance of the external financing guarantee to within the scope of the newly-ratified quota. The banks shall not handle new external financing guarantees before the balance of the external financing guarantee is reduced to the newly-ratified quota. IV. Where foreign institutions issue bonds overseas and domestic banks, domestic non-bank financial institutions, or domestic enterprises are the proposed guarantors thereof, it shall be reported to the SAFE for approval by the domestic guarantor on a case-by-case basis through the local foreign exchange authority. Where the guarantors are domestic non-bank financial institutions or domestic enterprises, the qualifications of the guarantors and the debtors shall also be in conformity with the relevant provisions of the Circular of the State Administration of Foreign Exchange on the Administration of External Guarantees Provided by Domestic Institutions (Huifa No.39 [2010]). Applications by domestic real estate enterprises for provision of external guarantees for overseas issuances of bonds by their overseas subsidiaries are not currently accepted. VI. Where the foreign exchange authorities accept the applications of domestic institutions for external financing guarantees and domestic banks handle the business of external financing guarantees, the specific purpose of the proceeds from the financing obtained by the overseas debtor shall be strictly examined. The proceeds from the financing under the guarantee shall not, directly or indirectly, be transferred back to China by means of equity or debt investments, including but not limited to the following means: (1) The proceeds from the financing are used to repay former loans of the debtor or other overseas companies, and the former loan proceeds are transferred back to China by means of equity or debt; (2) The proceeds from the financing are used, directly or indirectly, to purchase the equity of the overseas target company whose main assets are located within China ; (3) Other means of transfer back to China determined by the foreign exchange authorities. VII. Where domestic institutions provide external guarantees in RMB, in principle they shall be administered in accordance with the relevant provisions of the Circular of the State Administration of Foreign Exchange on the Administration of External Guarantees Provided by Domestic Institutions (Huifa No.39 [2010]). VIII. Domestic banks shall strictly comply with the Measures for the Administration of External Guarantees Provided by Domestic Institutions, the Circular of the State Administration of Foreign Exchange on the Administration of External Guarantees Provided by Domestic Institutions (Huifa No.39 [2010]), and other relevant provisions, strengthen internal risk controls, strictly keep the balance of actually provided external financing guarantees within the scope of the quota, and submit the relevant data to the local foreign exchange authorities as required. IX. The foreign exchange authorities shall further strengthen ex-post inspections and the statistics and monitoring of the provision of external guarantees by domestic institutions: (1) The foreign exchange authorities shall strictly administer implementation of the quotas of the banks within their jurisdiction, and carry out regular statistics and monitoring of the balance in the external financing guarantees provided under their quotas, the variations in the balance, and the performance of the guarantees. (2) The foreign exchange authorities shall keep a close eye on the flow of the proceeds under the guarantees. Where the proceeds under the guarantees are transferred back to China in violation of the regulations on foreign exchange administration, penalties shall be imposed by the foreign exchange authorities in accordance with the Regulations of the People’s Republic of China on Foreign Exchange Administration and other relevant regulations. The branches and foreign exchange administrative departments shall, upon receipt of this Circular, promptly forward it to all central sub-branches, sub-branches, and banks within their respective jurisdictions, and shall do a good job of tracking and providing feedback in a timely manner. July 27, 2011 2011-08-15/en/2011/0815/727.html
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In order to increase the efficiency of funds utilization by domestic enterprises and to further promote trade facilitation, the State Administration of Foreign Exchange has, in accordance with the relevant provisions of the Regulations of the Peoples Republic of China on Foreign Exchange Administration, decided to carry out a pilot policy for overseas deposits of export proceeds in Beijing, Guangdong (including Shenzhen), Shandong (including Qingdao), and Jiangsu for one year starting from October 1, 2010. We hereby notify you of the relevant requirements for the pilot policy as follows: 1. A domestic enterprise in a pilot region that has a desire to deposit export proceeds overseas and meets the prescribed conditions may file an application with the local branch office of the State Administration of Foreign Exchange (hereinafter referred to as the foreign exchange authority) and may participate in the pilot implementation upon approval. 2. The branch or administrative department of the State Administration of Foreign Exchange in the pilot region (hereinafter referred to as the SAFE branch) shall, in accordance with the relevant provisions of the Pilot Measures for the Administration of Overseas Deposits of Export Proceeds from Trade in Goods (hereinafter referred to as the Pilot Measures; see the annex), examine the qualifications of the applicants and determine the pilot enterprises in stages and batches in light of the local situations and the applications of the enterprises within its jurisdiction. During the pilot period, each SAFE branch shall approve a total of no more than ten pilot enterprises. 3. The pilot enterprises shall, in accordance with the relevant provisions of the Pilot Measures, open and close their overseas bank accounts, receive and pay funds and handle other related businesses, and report any relevant information to the foreign exchange authority. 4. The foreign exchange authority shall, in accordance with the relevant provisions of the Pilot Measures, administer the receipts and payments of the overseas bank accounts of the pilot enterprises, and maintain an account book for each enterprise. 5. The total amount of the overseas deposits of the export proceeds of a pilot enterprise each year shall not exceed a certain proportion of the total amount of export proceeds in the previous calendar year. This proportion shall be determined and adjusted by the SAFE branch in accordance with the relevant provisions of the Pilot Measures and the practical situation of the enterprise. 6. The foreign exchange authority shall, based on the information reported by the pilot enterprises, handle the relevant foreign exchange administrative formalities for the pilot enterprises, such as the writing-off of the export proceeds received in foreign exchange and the writing-off of the import payments made in foreign exchange (or verification of the gross foreign exchange payments for imports). The pilot enterprises shall, after the writing-off of the export proceeds received in foreign exchange, normally handle the export rebates in accordance with the relevant provisions. 7. The SAFE branch shall, in accordance with the relevant provisions of the Pilot Measures and this Circular, make the operating rules for the local pilot match the operating requirements for this business. The pilot operational rules shall be implemented after being filed with the State Administration of Foreign Exchange before September 20, 2010. 8. The SAFE branch shall strengthen the organization and leadership of the pilot work of overseas deposits of export proceeds, form a pilot work team headed by a relevant deputy director-general, formulate specific pilot work schemes as uniformly arranged by the State Administration of Foreign Exchange, and earnestly organize the implementation thereof. 9. The SAFE branch shall do a good job in carrying out training regarding the policies for the pilot enterprises, strengthen publicity about the policies, earnestly study and solve the problems found in the pilot work, provide timely feedback on the pilot implementation, and report a quarterly review on the pilot work to the State Administration of Foreign Exchange. Timely feedback about any problems encountered in implementation should be provided to the Current Account Management Department of the State Administration of Foreign Exchange. FILE: Appendix 1Agreement on the Reporting of Account Receipt and Payment Information FILE: Appendix 2Balance Statement for Overseas Deposits of Export Proceeds FILE: Pilot Measures for the Administration of Overseas Deposits of Export Proceeds from Trade in Goods 2010-08-27/en/2010/0827/710.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 SAFE branches in Shenzhen, Dalian , Qingdao , Xiamen , and Ningbo ; and all designated Chinese-funded foreign exchange banks: Given the changes and adjustments to the provisions on foreign exchange administration from August 2010 to the present, the SAFE has formulated the Contents and Scoring Criteria for the Assessment of Bank Implementation of the Provisions on Foreign Exchange Administration (2011) (see the Appendix). You are hereby notified of the relevant matters as follows: 1. The contents and scoring criteria for the assessment of bank implementation of the provisions on foreign exchange administration for the year 2011 are subject to the contents of the Appendix to this Circular. 2. After receiving this Circular, all branches and foreign exchange administrative departments of the SAFE shall immediately forward this Circular to the central sub-branches, 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 within their respective jurisdictions, and shall carry out fair and just assessments of the banks within their respective jurisdictions in implementing the provisions of foreign exchange administration in line with the revised contents and scoring criteria. 3. All designated Chinese-funded foreign exchange banks shall forward this Circular to their branches as soon as possible, and shall conduct their various foreign exchange businesses in accordance with the relevant laws and regulations. If any problems are encountered during implementation, please report them to the relevant departments of the SAFE in a timely manner. Telephone numbers: 010-68402129 (General Affairs Department), 010-68402295 (Balance of Payments Department), 010-68402156 (Current Account Administration Department), 010-68402061 (Capital Account Administration Department), and 010-68402352 (Supervision and Inspection Department). May 13, 2011 affix1:Contents and Scoring Criteria for the Assessment of Bank Implementation of the Provisions on Foreign Exchange Administration (2011) 2011-05-25/en/2011/0525/723.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; and the SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo: To further clarify the administrative principles and relevant issues in the application of the Circular of the State Administration of Foreign Exchange on Relevant Issues Concerning Foreign Exchange Administration for Financing and Return Investments by Domestic Residents through Special-Purpose Overseas Companies (HuiFa No.75 [2005]) and to simplify the operational process, the Operational Rules on Foreign Exchange Administration for Financing and Return Investments by Domestic Residents through Special Purpose Overseas Companies is hereby printed and distributed (see the Appendix). Please observe and implement it. The Circular will come into effect as of July 1, 2011. Where there is any discrepancy between this Circular and the provisions regarding specific processing basis, processing period, relevant authority for implementation, required application materials, and so forth with respect to foreign exchange registration relating to foreign direct investments, foreign exchange payment approvals, foreign exchange registration of overseas investments, approvals of outward remittances of capital thereof, the opening, changing, closing, and cancellation of foreign exchange accounts, and approval of the maximum amount allowed to be reserved in the account under the Circular of the General Affairs Department of the State Administration of Foreign Exchange on Printing and Distributing the Operational Rules for Foreign Exchange Administration under the Capital Account (2009 version) (HuiZongFa No. 77 [2009]) and the Circular of the State Administration of Foreign Exchange on the Promulgation of the List of Administrative Licensing Items (HuiFa No. 43 [2010]), this Circular shall prevail. May 20, 2011 FILE: Operational Rules on Foreign Exchange Administration for Financing and Return Investments by Domestic Residents through Special-Purpose Overseas Companies.eng 2011-05-27/en/2011/0527/724.html