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The national foreign exchange administration work conference was held in Beijing recently. Under the guidance of Xin Jinping thought on socialism with Chinese characteristics for a new era, by following the spirit of the 19th CPC National Congress, the Second and Third Plenums of the 19th CPC Central Committee and the Central Economic Work Conference, the conference reviewed the four-decade journey of reform and opening-up in foreign exchange administration area, summarized foreign exchange administration in 2018, analyzed current foreign exchange situation in an in-depth manner, and discussed and made plans for foreign exchange administration tasks for the next phase. Pan Gongsheng, Secretary of the Party Leadership Group and Administrator of the State Administration of Foreign Exchange (SAFE) delivered a work report. The conference holds that, in 2018, under the strong leadership of the CPC Central Committee led by Comrade Xi Jinping and guidance of the CPC Committee of the People's Bank of China, foreign exchange authorities resolutely implemented the decisions and deployment of the CPC Central Committee and the State Council, strictly and comprehensively exercise self-discipline, unswervingly promoted the overall work guideline of making progress while maintaining stability, proactively adapted to the profound changes in external environment, deepened foreign exchange administration reform, advanced the dual-directional opening-up of the financial market, so as to serve the overall new pattern of opening-up, effectively guard against cross-border capital flow risks, safeguard security, liquidity as well as value preservation and appreciation of foreign exchange reserves and maintain national economic and financial security. The first is thoroughly promoting strict Party's self-discipline under the guidance of the Party's political construction. We made it a top political priority to study and implement Xi Jinping thought on socialism with Chinese characteristics for a new era and the spirit of the 19th CPC National Congress, and fully carried out the decisions and deployment of the CPC Central Committee and the State Council. We thoroughly implemented the spirit of the eight-point guidelines set out by the CPC Central Committee and worked to strengthen construction of party conduct and government integrity. The second is persisting in serving the real economy and thoroughly advancing the reform of "delegation, regulation and service". Efforts have been made to deepen opening-up and development of capital market and foreign exchange market, refine the qualified institutional investor system, vigorously support the "Belt and Road" construction as well as opening-up and innovative development of Free Trade Zones to improve the liberalization and facilitation of trade and investment. The third is getting off to a good start in the tough battle of guarding against and alleviating major financial risks, improving the two-pronged "macro-prudential + micro-regulatory" administrative framework for cross-border capital flow. Vigorous efforts were made to severely crack down upon foreign exchange irregularities such as underground banks and illegal online foreign currency speculation, so as to maintain a good order in the foreign exchange market. The fourth is improving operation and management of foreign exchange reserves, constantly strengthening investment capability building, and deepening diversified utilization to serve the national strategy and safeguard national economic and financial security. As pointed out on the conference, the SAFE was established with the approval of the State Council on March 13, 1979 as needed by the reform and opening-up. Over the past 40 years since the reform and opening-up and the founding of the SAFE, under the strong leadership of the CPC Central Committee and the State Council, foreign exchange authorities have been constantly reinforcing the decisive role of market in foreign exchange resource allocation, actively transforming the concepts and approaches of foreign exchange administration, deepening reform and opening-up in foreign exchange field, improving capabilities for serving the real economy, and have withstood a series of intensive external shocks at both regional and global level, and maintained national economic and financial security. Foreign exchange authorities are required to earnestly summarize successful experience over the past four decades of reform and opening-up in foreign exchange field, and vigorously serve the new comprehensive opening-up pattern which covers all dimensions, multiple levels and wider fields. The conference emphasized that the year 2019 marks the 70th anniversary of the founding of the People's Republic of China, and it's a crucial year for building a well-off society in an all-around way. Foreign exchange authorities shall rally more closely around the CPC Central Committee with Comrade Xi Jinping at the core under the guidance of Xi Jinping thought on socialism with Chinese characteristics for a new era, follow the spirit of the 19th CPC National Congress and the Second and Third Plenums of the 19th CPC Central Committee and the Central Economic Work Conference in an all-around manner, firmly establish the "four consciousness", strengthen "four self-confidences", and resolutely perform "two maintenances", so as to unify thoughts and actions by focusing on the CPC Central Committee’s significant judgments as well as decisions and arrangements about current situations both at home and abroad, adhere to the overall work direction of seeking progress while maintaining stability, persist in deepening market-oriented reform with focus on supply-side structural reform, expand high-level opening-up, deepen the reform of "delegation, regulation and service", well implement the requirements of "six stabilities", thoroughly advance reform and opening-up in the foreign exchange field, continue to fight the three major battles, earnestly serve the sustained and sound development of the real economy, and celebrate the 70th anniversary of the founding of the People's Republic of China with outstanding achievements. The conference laid out foreign exchange administration priorities of 2019. First, comprehensively strengthening Party discipline and deepening its development. We will persist in prioritizing the Party's political construction, study and implement Xin Jinping thought on socialism with Chinese characteristics for a new era and the spirit of the 19th CPC National Congress in an in-depth manner, fully follow the centralized and unified leadership of the CPC Central Committee in financial and foreign exchange work, further intensify supervision and enforcement, resolutely implement the spirit of the eight-point guidelines issued by the CPC leadership, relentlessly rectify undesirable work styles such as formalism, bureaucracy, hedonism and extravagance, and build a professional and high-quality foreign exchange administration team with loyalty, integrity and sense of responsibility. Second, promoting reform and opening-up in foreign exchange field. The foreign exchange authorities will steadily promote the opening-up of capital account in an orderly manner, further refine qualified foreign institutional investor system, and study the foreign exchange administration framework for foreign-funded enterprises under the national treatment and negative list management system before access is granted. Efforts will be made to expand bi-directional opening-up of foreign exchange market, further enrich instruments of transactions, increase trading entities, and build an open and competitive foreign exchange market. Third, deepening the foreign exchange administration reform of "delegation, regulation and service". The SAFE will optimize foreign exchange administration services, promote liberalization and facilitation of trade and investment at a higher level, further support free trade zones, Guangdong-Hong Kong-Macao Greater Bay Area and Hainan to deepen reforms in an all-around manner, and foster a convenient and highly efficient, stable and transparent business environment with fair competition. Fourth, improving the two-pronged "macro-prudential + micro-regulatory" management framework for cross-border capital flow. The SAFE will regulate fluctuations in the foreign exchange market in a market-based and countercyclical manner, maintain stability, consistency and predictability of micro-regulation of foreign exchange across cycles, crack down upon illegal and irregular activities in foreign exchange, promote "digital foreign exchange administration" and "secure foreign exchange administration" construction, and safeguard optimum order in foreign exchange market. Fifth, improving the operation and management of foreign exchange reserves. The SAFE will further promote operation capability construction, vigorously serve the "Belt and Road" Initiative and national strategy, and safeguard security, liquidity as well as value preservation and appreciation of foreign exchange reserves. The Party Leadership Group members, the Chief Accountant and Chief Economist of the SAFE attended this conference. The main responsible comrades of branches and foreign exchange administrative departments of the SAFE as well as administrative organs of the SAFE attended this conference. 2019-01-04/en/2019/0118/1485.html
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为宣传外汇管理政策，加强诚信宣传教育，有效引导社会公众诚信守法使用外汇，近日，国家外汇管理局中卫市中心支局组织辖内外汇银行分别在沙坡头区红太阳广场、中宁富康广场开展了2019年“诚信兴商宣传月”现场集中宣传活动。 本次宣传侧重与老百姓生活相关的日常购付汇等金融知识，引导广大公众依法合规使用外汇，更好满足社会公众外汇金融产品需要。在活动现场，外汇局和外汇银行工作人员现场讲解违规用汇风险、外汇案例，分发“网络炒汇不合法 资金安全无保障”宣传材料，解答群众咨询，累计发放宣传材料500份，摆放宣传展板10块，接受群众咨询200余人次。通过集中宣传活动，进一步提高了公众的外汇知识和风险意识，营造了良好的“诚信兴商 依法用汇”的金融环境。 2019-09-30/ningxia/2019/0930/1115.html
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为落实总、分局“诚信兴商宣传月”活动安排，进一步推进社会信用体系建设，强化企业守法诚信意识，营造良好营商环境，促进灵武市民营、小微企业健康发展，近日，国家外汇管理局灵武市支局组织辖区金融机构和民营小微企业成功举办了2019年灵武市“守法诚信、银企共赢”诚信知识电视大赛。灵武市广播电视台通过“美丽灵武”微信平台对这次竞赛进行了实况直播。 灵武市支局以“诚信兴商宣传月”为契机，通过群众喜闻乐见的形式，在社会公众中深入宣传诚信知识、传播诚信文化，弘扬“守法诚信是企业安身立命之本”、“诚信兴商”理念，推动金融机构及涉外企业依法诚信经营、合作发展共赢，在加强“诚信灵武”建设的同时，践行了基层支局“外汇为民”理念，提升了外汇局社会影响力和良好履职形象。 2019-09-29/ningxia/2019/0929/1114.html
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国家外汇管理局各省、自治区、直辖市分局、外汇管理部，深圳、大连、青岛、厦门、宁波市分局，全国性中资银行： 为进一步完善银行结售汇统计制度，规范结售汇统计行为，满足银行结售汇业务监管工作需要，国家外汇管理局根据《中华人民共和国统计法》《中华人民共和国外汇管理条例》（中华人民共和国国务院令第532号修订）《银行办理结售汇业务管理办法》（中国人民银行令〔2014〕第2号）等法律法规，修订了《银行结售汇统计制度》（见附件1），现予印发。 《银行结售汇统计制度》自2020年1月1日起实施。附件2所列文件同时废止。请遵照执行。 国家外汇管理局各分局、外汇管理部接到本通知后，应立即转发辖内中心支局、支局，以及开办结售汇业务的金融机构。执行中如遇问题，请及时与国家外汇管理局国际收支司联系。 联系人：齐天骄 联系方式：010-68402403 特此通知。 附件：1.银行结售汇统计制度 2.废止外汇管理法规 国家外汇管理局 2019年9月24日 2019-09-30/ningxia/2019/0930/1112.html
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On March 21, 2019, Pan Gongsheng, Administrator of the State Administration of Foreign Exchange (SAFE) met with Ray Dalio, the founder, Board Chairman and co-CIO of the US-based Bridgewater Associates and his delegation. The two sides exchanged views on the global economic and financial market situations as well as the opening-up of China's financial sector, and other issues. 2019-03-27/en/2019/0402/1499.html
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Pan Gongsheng, administrator of the State Administration of Foreign Exchange (SAFE) recently met with a delegation headed by Larry Fink, Founder and Chairman of BlackRock, Inc. Both sides exchanged ideas on issues such as conditions of the global economy and financial markets. 2019-08-14/en/2019/0814/1546.html
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The national foreign exchange administration work conference has been recently held in Beijing. At the conference, participants studied, promoted and implemented the spirit of the 19th CPC National Congress, the Central Economic Work Conference and the National Financial Work Conference, summarized the performance of foreign exchange administration over the past five years, studied the foreign exchange market conditions and concerns in foreign exchange, studied the logics and arranged for assignments regarding the foreign exchange administration reform for the moment and the near future. Pan Gongsheng, Secretary of the Party Leadership and Administrator of the State Administration of Foreign Exchange (SAFE), delivered a work report. The conference pointed out that under the leadership of the CPC Central Committee with Comrade Xi Jinping at its core and the guidance of the CPC Committee of the People's Bank of China, foreign exchange authorities have strengthened the Party's self-discipline, established and executed the new philosophy on development and deepened the foreign exchange administration reform over the past five years, based on the work arrangements of the CPC Central Committee and the State Council. They have further liberalized the foreign exchange market, supported the development of the real economy, and effectively tackled the impact on the foreign exchange market, maintaining the economic and financial security of the country. First, foreign exchange authorities have been committed to foreign exchange administration reforms and innovations. They have deepened the reform of delegation, regulation and service, achieved new progress in the capital account convertibility and the two-way liberalization of the financial market, pushed the liberalization and competitiveness of the foreign exchange market to new highs, and further enhanced cross-border trade and investment liberalization and facilitation. Second, foreign exchange authorities have prevented the risks arising from cross-border capital flows. They have improved the macro-prudential management of cross-border capital flows and micro-regulatory framework of the foreign exchange market. They have maintained a tough stance on foreign exchange irregularities to safeguard the healthy and orderly foreign exchange market. Third, foreign exchange authorities have maintained and increased the value of foreign exchange reserves while ensuring their security and liquidity, and served the national strategy by using foreign exchange reserves, providing a strong support for the Belt and Road Initiative and international production capacity cooperation. Fourth, foreign exchange authorities have been dedicated to strengthening the Party's self-discipline in all respects. New results have been achieved in the building of the Party's politics, ideology, organization, work styles, discipline and systems. Efforts have also been stepped up to build the foreign exchange administration teams. Participants at the meeting believed that by following the decisions and arrangements of the CPC Central Committee and the State Council and adhering to the general work guideline of making progress while maintaining stability, foreign exchange authorities took the initiative to press ahead with law-based administration and the reform of delegation, regulation and service, supported the development of new trading formats and enhanced trade and investment liberalization and facilitation in 2017. Also in the year, they deepened reforms in key areas and pushed forward the capital account convertibility and the development of the foreign exchange market; they raised requirements on authenticity and compliance reviews and cracked down on foreign exchange irregularities such as underground banks to safeguard the healthy and orderly development of the foreign exchange market; they improved the way of foreign exchange administration and strengthened the micro regulation capability in the foreign exchange market; they strengthened the operation and management of foreign exchange reserves to ensure their security, liquidity and the maintenance and growth of their value; they pushed forward the Party self-discipline in all respects and built professional talent teams with high qualities. As a result, new progress has been achieved in foreign exchange administration. Participants at the meeting realized that the 19th CPC National Congress kick-started the march towards socialism with Chinese characteristics for the new era, and proposed the new targets and tasks for building the modern economic system at a higher level and boosting the new landscape of full opening-up. In the new era, foreign exchange authorities should have a new look and make new contributions, making studying, promoting and implementing the spirit of the 19 CPC National Congress their top political task for the present and the near future, with a focus on developing a deep understanding of the task. They should develop "four awarenesses", build "four confidences" and ensure "four obediences" to enhance political stance and firmly safeguard the centralized leadership by CPC Central Committee. By implementing the four principles of "remaining true to the original aspiration, optimizing the structure, enhancing regulation and following market orientation", they should endeavor to ensure sound foreign exchange administration under the new circumstances. Participants at the meeting stressed that the year 2018 marks the first year of implementing the spirit of the 19th CPC National Congress and the 40th anniversary of the reform and opening up policy, and is crucial to the building of a moderately prosperous society in all respects and the implementation of the 13th Five-year Plan. Foreign exchange authorities should be united around the CPC Central Committee with Comrade Xi Jinping at its core. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, they should implement the requirements on the Party's self-discipline, and align their thoughts and actions with the judgments, decisions and arrangements of the CPC Central Committee regarding the economic and financial conditions. Following the general work guideline of maintaining stability while making progress, the new development philosophy and the requirements on high-quality development, they should focus on serving the real economy, controlling financial risks and deepening the financial reform. On the one hand, they should deepen the foreign exchange administration reform, and boost the two-way opening up of the financial market to serve the country's new pattern of comprehensive opening-up. On the other hand, they should work to ensure the stability of the foreign exchange market, preventing the risks associated with the cross-border capital flows, and safeguarding the security, liquidity, and value maintenance and growth of foreign exchange reserves, to guarantee economic and financial security of China, and make greater contributions to the building of a moderately prosperous society in all respects and the success in building socialism with Chinese characteristics in the new era. The priorities of foreign exchange administration for the moment and the near future were set at the meeting. First, foreign exchange authorities should unswervingly implement the requirements on the Party's self-discipline. They should support the core position of Secretary-general Xi Jinping in the CPC Central Committee and the CPC and safeguard the authority and centralized leadership of the CPC. They should study, promote and implement the spirit of the 19th CPC National Congress, and carry out educational programs under the theme of "remaining true to our original aspiration and keeping our mission firmly in mind". Focusing on the CPC's political construction, they should clean up undesirable work styles and tighten discipline and build a team of talents with firm political stance, desirable work styles and strong professional expertise, to provide political guarantee and professional support for foreign exchange administration to serve the reform and opening up. Second, they should further enhance the liberalization and facilitation of cross-border trade and investment. To be specific, they should support innovative development of foreign trade, and press ahead with the pilot program of foreign exchange administration for free trade zones. They should properly and systematically push forward the capital account convertibility, protect the legitimate rights and interests of foreign investment, and support capable and mature enterprises to make outbound investment. They should increase the transaction instruments and expand market players to build and improve the open and competitive foreign exchange markets. They should also strengthen risk education programs, guide market players to build the risk neutral awareness, and emphasize the management of foreign exchange rate risks so as to control the risks arising from external impact. Third, the regulatory capability of foreign exchange markets should be improved. Foreign exchange authorities should prevent and mitigate financial risks, and improve the two-in-one management system of macro-prudential management and micro market regulation regarding cross-border capital flows. The macro-prudential policy should be dedicated to the countercyclical adjustment of cross-border capital flows and the micro regulation policy should be devoted to maintaining the order of the foreign exchange market in accordance with the law and regulations. The implementation standards should be stable, consistent and predictable across cycles and foreign exchange irregularities should be cracked down. Fourth, infrastructures should be improved. Foreign exchange authorities should improve the laws and regulations on foreign exchange administration, with the emphasis on the basic work of the balance of payments statistics. They should also build digital foreign exchange administration platforms to improve the security of the foreign exchange administration system. Fifth, the foreign exchange reserves operation capability should be built. Foreign exchange authorities should support national strategies such as the Belt and Road Initiative and international production capacity cooperation, to ensure the security and liquidity of foreign exchange reserves and their value maintenance and increase. The conference was attended by the members of the Party Leadership of the SAFE, as well as the owners of the SAFE branches (foreign exchange administrative departments), relevant departments of the People's Bank of China and departments and units of the SAFE. 2018-02-06/en/2018/0206/1414.html
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From July 27 to July 28, the People's Bank of China (PBC) and the State Administration of Foreign Exchange (SAFE) held a training course on Article VIII of IMF's Articles of Agreement in Hangzhou. Attendees include department representatives of the PBC and SAFE, and responsible persons from their branches and sub-branches who are committed to cross-border RMB management and foreign exchange administration under the current account. Ms. Katharine Christopherson, Assistant General Counsel at the International Monetary Fund (IMF), Ms. Kyung Kwak, Senior Counsel at the IMF and Mr. Aditya Gaiha, former Senior Financial Expert at IMF's Monetary and Capital Markets Department were invited to give lectures on the connotation and implementation of Article VIII of IMF's Articles of Agreement, and how government administrations could better perform their obligations as provided for in Article VIII. Since accepting the obligations of Article VIII of the IMF Articles of Agreement on December 1, 1996, China has been committed to advancing and deepening the foreign exchange administration reform, duly ensuring genuine international payments and transfers under the current account that are in compliance with regulations, and promoting trade and investment facilitation, in a bid to enhance the efficiency and level of serving the real economy. This training program will help China deepen its understanding of the obligations of Article VIII and draw on best practices and experience of member countries for regulation, and therefore is critical and positive for the country to perform its obligations as a member country of the IMF. The training program will also support China's efforts to further improve and refine the balance of payments regulation, better guard against the risks associated with cross-border capital flows and maintain an equilibrium of the balance of payments. 2017-08-02/en/2017/0802/1291.html
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The State Administration of Foreign Exchange (SAFE) held on May 3, 2018 a seminar on "Deepening Reform and Opening up of Foreign Exchange Administration to Make It Easier to Do Business". Chaired by Pan Gongsheng, Administrator of the SAFE, the seminar was attended by representatives from The European Union Chamber of Commerce in China, HSBC, Standard Chartered Bank, DBS Bank, Deutsche Bank, PWC, BMW, and Schneider Electric. Based on their experience in company operation and customer service, the representatives discussed many issues such as the opening up and development of the foreign exchange market, the liberalization of the capital market and the promotion of trade and investment facilitation, and provided constructive ideas and suggestions. Pan Gongsheng pointed out that foreign exchange authorities will deepen reforms, boost two-way opening up of the financial market, promoting capital account convertibility, and enhancing trade and investment facilitation so as to serve opening up in all respects and the development of the real economy while guarding against risks associated with cross-border capital flows to create a favorable environment for Chinese and foreign-funded companies to do business. 2018-05-04/en/2018/0504/1460.html
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附件：国家外汇管理局宁波市分局关于公布废止外汇管理规范性文件的通知 2019-09-30/ningbo/2019/0930/1173.html