Chapter 1 General Provisions Article 1 In order to regulate the opening and use of foreign exchange accounts and strengthen the supervision and management of foreign exchange accounts, in accordance with the "Regulations of the People's Republic of China and Foreign Exchange Administration" and the "Settlement and Sale of Foreign Exchange" and Foreign Exchange Payment Management Regulations", these regulations are specially formulated. Article 2 The State Administration of Foreign Exchange and its branches and sub-branches (hereinafter referred to as the “Foreign Exchange Bureau”) are the management agencies for foreign exchange accounts. Article 3 These regulations shall apply to the opening, use and closing of foreign exchange accounts by domestic institutions, institutions stationed in China, individuals and personnel coming to China.

Account-opening financial institutions shall handle the opening and closing procedures of foreign exchange accounts and supervise receipts and payments in accordance with these regulations. Article 4 The meaning of the following terms in these regulations:

"Account-opening financial institution" refers to banks and non-bank financial institutions approved to engage in foreign exchange business.

"Foreign exchange account" refers to the account opened by domestic institutions, institutions in China, individuals and people coming to China at a financial institution in freely convertible currency. Article 5 Domestic institutions and institutions in China are generally not allowed to open foreign currency cash accounts. Individuals and people coming to China are generally not allowed to open foreign exchange accounts for settlement. Chapter 2 Current account foreign exchange account and its opening and use Article 6 The following current account foreign exchange can be opened to retain foreign exchange:

(1) Operating overseas contracted projects and providing labor and technology overseas Foreign exchange transactions between cooperative domestic institutions that occur in the course of their business projects;

(2) Foreign exchange collected and paid by domestic institutions engaged in agency foreign or overseas business;

(3) Foreign exchange temporarily received by domestic institutions to be paid or temporarily received to be settled, including bid deposits and performance bonds remitted from abroad, foreign exchange collection from entrepot trade that is received first and paid later, and foreign exchange remittances handled by postal and telecommunications departments for international remittance business. Payments, foreign exchange collected by the railway department for overseas insured transportation business, foreign exchange deposits, mortgage deposits collected by the customs, etc.;

(4) Ocean shipping companies approved by the Ministry of Transport to engage in international ocean transportation business, through foreign economic and trade The Ministry of Foreign Affairs approves the foreign exchange transactions of foreign shipping companies and chartering companies engaged in international freight;

(5) Insurance institutions accept foreign exchange insurance, overseas reinsurance and unsettled premiums;

< p>(6) Foreign exchange that needs to be used for overseas donations, funding or assistance for overseas payments in accordance with the provisions of the agreement;

(7) Foreign exchange earned by the duty-free goods company from operating duty-free goods business;

(8) Enterprises with import and export rights engage in large-scale mechanical and electrical product export projects, and the total amount and execution period of the project meet the prescribed standards, or advance payments and progress payments received during the international bidding project;

< p>(9) Foreign exchange collected by international travel agencies, prepaid by foreign tourism agencies, and within the retention ratio approved by the foreign exchange bureau;

(10) Current accounts of foreign-invested enterprises within the maximum amount approved by the foreign exchange bureau Foreign exchange under the item;

(11) Foreign exchange used by domestic institutions to repay interest and expenses on domestic and overseas foreign exchange debts;

(12) Foreign exchange remitted from abroad by institutions in China Funds;

(13) Foreign exchange earned under the current account by individuals and people coming to China;

(14) Other foreign exchange under the current account that domestic institutions are allowed to retain with the approval of the foreign exchange bureau . Article 7 For foreign exchange accounts opened by domestic institutions in accordance with the provisions of Article 6 (1) to (10) and (14) of these Regulations, their income shall be foreign exchange from the current account, and the expenditure shall be used for current account expenditures or through the foreign exchange bureau. Approved capital project expenditures. Article 8: For foreign exchange accounts opened by institutions in China in accordance with Article 6 (12) of these Regulations, the income shall be office funds remitted from abroad, and the expenses shall be used for office expenses. Article 9 Individuals and people coming to China may open personal foreign exchange or foreign currency cash deposit accounts in accordance with Article 6 (13) of these regulations. Article 10 Domestic institutions shall obtain approval from the foreign exchange bureau when opening current account foreign exchange accounts. Article 11 Domestic institutions (except foreign-invested enterprises) shall apply to the foreign exchange bureau for opening an account with the following materials, and fill in the "State Administration of Foreign Exchange Approval for Opening a Foreign Exchange Account" (Appendix 1). After approval, open a Chinese-funded financial account. When an institution opens a foreign exchange account, it must obtain the "Foreign Exchange Account Usage Certificate" (Appendix 2) from the Foreign Exchange Bureau with the account opening receipt within 5 days after opening the account:

(1) Report on application for opening a foreign exchange account;

(2) Depending on the nature of the account-opening unit, provide a business license issued by the industrial and commercial administration department, or a society registration certificate issued by the civil affairs department, or a valid approval document approved by the state authorized agency;

(3) ) Approval documents from the State Council’s authorized authority for business operations;

(4) Corresponding contracts, agreements or other relevant materials required by the foreign exchange bureau.

After a Chinese-funded financial institution opens a foreign exchange account for a domestic institution, it shall indicate the account number, currency and account opening date on the account opening reply, and stamp it with the stamp of the financial institution. Article 12 To open a foreign exchange account under the current account, a foreign-invested enterprise shall apply to the Foreign Exchange Bureau with the application report for opening a foreign exchange account and the "Foreign Exchange Registration Certificate of Foreign-Invested Enterprises", and shall hold the "Account Opening Notice" issued by the Foreign Exchange Bureau and the "Foreign Investor" Foreign Exchange Registration Certificate for Investment Enterprises" go to the financial institution where you open an account to go through the account opening procedures. After a financial institution opens a foreign exchange account for a foreign-invested enterprise, it shall indicate the account number, currency and account opening date in the corresponding column of the "Foreign Exchange Registration Certificate for Foreign-Invested Enterprises" and stamp it with the stamp of the financial institution.