Article 1 These Regulations are formulated for the purpose of strengthening foreign exchange management, promoting the balance of international payments and promoting the healthy development of the national economy.

Article 2 The foreign exchange administration department of the State Council and its branches (hereinafter referred to as foreign exchange bureaus) shall perform their duties of foreign exchange administration according to law and be responsible for the implementation of these Regulations.

Article 3 Foreign exchange as mentioned in these Regulations refers to the following means of payment and assets expressed in foreign currencies that can be used for international settlement:

1, foreign currency cash, including banknotes and coins;

2. Foreign currency payment vouchers or payment instruments, including bills, bank deposit vouchers, bank cards, etc. ;

3. Foreign currency securities, including bonds and stocks;

4. Special drawing rights;

5. Other foreign exchange assets.

Article 4 These Regulations shall apply to the foreign exchange receipts and payments or foreign exchange business activities of domestic institutions and individuals, and the foreign exchange receipts and payments or foreign exchange business activities of overseas institutions and individuals in China.

Article 5 The State does not restrict regular international payments and transfers.

Article 6 The State implements a system of statistical declaration of international payments.

The foreign exchange administration department of the State Council shall make statistics and monitor the balance of payments, and publish the balance of payments regularly.

Article 7 Financial institutions engaged in foreign exchange business shall open foreign exchange accounts for customers in accordance with the provisions of the foreign exchange administration department of the State Council, and handle foreign exchange business through the foreign exchange accounts.

Financial institutions engaged in foreign exchange business shall submit the foreign exchange receipts and payments and account changes of customers to the foreign exchange management agencies according to law.

Article 8 The circulation of foreign currency is prohibited in People's Republic of China (PRC), and settlement shall not be made in foreign currency unless otherwise stipulated by the state.

Article 9 The foreign exchange income of domestic institutions and individuals may be repatriated or deposited abroad; The conditions and time limit for repatriation or deposit abroad shall be stipulated by the foreign exchange administration department of the State Council according to the balance of payments and the needs of foreign exchange administration.

Article 10 The foreign exchange administration department of the State Council shall hold, manage and operate the national foreign exchange reserves according to law and follow the principles of safety, liquidity and appreciation.

Article 11 When there is or may be a serious imbalance in the balance of payments and a serious crisis in the national economy, the state may take necessary measures to safeguard and manage the balance of payments. Current account foreign exchange management

Article 12 Foreign exchange receipts and payments under current account shall have a true and lawful trading basis. Financial institutions engaged in the settlement and sale of foreign exchange shall, in accordance with the provisions of the foreign exchange administration department of the State Council, conduct a reasonable examination of the authenticity of transaction documents and their consistency with foreign exchange receipts and payments.

The foreign exchange administration authorities have the right to supervise and inspect the matters specified in the preceding paragraph.

Article 13 Foreign exchange earnings from current account can be retained or sold to financial institutions engaged in foreign exchange settlement and sale in accordance with relevant state regulations.

Article 14 The foreign exchange expenditure of current account shall be paid in its own foreign exchange with valid vouchers or by purchasing foreign exchange from financial institutions engaged in foreign exchange settlement and sale in accordance with the provisions of the State Council on foreign exchange payment and purchase.

Article 15 The declaration limit for bringing foreign currency cash into and out of the country shall be stipulated by the foreign exchange administration department of the State Council. Foreign exchange management of capital account

Article 16 Foreign institutions and individuals who invest directly in China shall register with the foreign exchange administration after being approved by the relevant competent authorities.

Overseas institutions and individuals engaged in the issuance and trading of securities or derivative products in China shall abide by the relevant provisions of the state on market access and register in accordance with the provisions of the foreign exchange administration department of the State Council.

Article 17 Domestic institutions and individuals shall make direct investments abroad, or engage in the issuance and trading of overseas securities and their derivatives, and shall register in accordance with the provisions of the foreign exchange administration department of the State Council. Where the approval or filing by the relevant competent authorities is required by the state, the approval or filing formalities shall be handled before the foreign exchange registration.

Article 18 The State exercises scale management over foreign debts. Borrowing foreign debts shall be handled in accordance with the relevant provisions of the state, and foreign debts shall be registered with the foreign exchange administration.

The foreign exchange administration department of the State Council is responsible for the national foreign debt statistics and monitoring, and regularly publishes the foreign debt situation.

Article 19 An application shall be made to the foreign exchange bureau for providing external guarantee, and the foreign exchange bureau shall make a decision on approval or disapproval according to the assets and liabilities of the applicant. Where the business scope stipulated by the state needs to be approved by the relevant competent department, the approval formalities shall be handled before applying to the foreign exchange bureau. After the signing of the foreign guarantee contract, the applicant shall register the foreign guarantee with the foreign exchange bureau.

The provisions of the preceding paragraph shall not apply to those who provide external guarantees for loans from foreign governments or international financial organizations with the approval of the State Council.

Article 20 Banking financial institutions may directly provide commercial loans abroad within the approved business scope. Other domestic institutions providing commercial loans abroad shall apply to the foreign exchange bureau, which shall make a decision on approval or disapproval according to the applicant's assets and liabilities; If the state stipulates that its business scope must be approved by the relevant competent department, it shall go through the approval procedures before applying to the foreign exchange bureau.

The provision of commercial loans abroad shall be registered in accordance with the provisions of the foreign exchange administration department of the State Council.

Article 21 Unless otherwise stipulated by the state, the retention of foreign exchange earnings from capital projects or the sale of foreign exchange to financial institutions engaged in foreign exchange settlement and sale must be approved by the foreign exchange administration.

Article 22 The foreign exchange expenditure of capital account shall be paid by its own foreign exchange with valid vouchers, or by purchasing foreign exchange from financial institutions engaged in foreign exchange settlement and sale in accordance with the regulations on foreign exchange settlement and sale issued by the foreign exchange administration department of the State Council. Where the State requires the approval of the foreign exchange administration department, it shall go through the approval procedures before payment of foreign exchange.

After the legally terminated foreign-invested enterprises have been liquidated and paid taxes in accordance with the relevant provisions of the state, the RMB owned by foreign investors can be purchased and remitted from financial institutions engaged in foreign exchange settlement and sale.

Article 23 Foreign exchange and foreign exchange settlement funds under capital account shall be used according to the purposes approved by the relevant competent departments and foreign exchange management agencies. The foreign exchange administration authorities have the right to supervise and inspect the use of foreign exchange for capital projects, the use of foreign exchange settlement funds and the change of accounts. Foreign exchange business management of financial institutions

Article 24 The operation or termination of foreign exchange settlement and sale business by a financial institution shall be approved by the foreign exchange bureau. The operation or termination of other foreign exchange businesses shall be approved by the foreign exchange bureau or the financial industry supervision and regulation institution in accordance with the division of responsibilities.

Twenty-fifth foreign exchange management institutions to implement comprehensive position management of foreign exchange business of financial institutions, the specific measures shall be formulated by the foreign exchange management department of the State Council.

Article 26 The funds and profits of financial institutions and the need to exchange RMB and foreign currency due to the mismatch of local and foreign currency assets shall be approved by the foreign exchange administration. RMB exchange rate and foreign exchange market management

Article 27 The RMB exchange rate shall be subject to a managed floating exchange rate system based on market supply and demand.

Article 28 Financial institutions engaged in settlement and sale of foreign exchange and other institutions that meet the requirements of the foreign exchange administration department of the State Council may conduct foreign exchange transactions in the inter-bank foreign exchange market in accordance with the provisions of the foreign exchange administration department of the State Council.

Twenty-ninth foreign exchange market transactions should follow the principles of openness, fairness, impartiality and good faith.

Article 30 The currency and form of transactions in the foreign exchange market shall be stipulated by the foreign exchange administration department of the State Council.

Thirty-first the State Council foreign exchange management department shall supervise and manage the national foreign exchange market according to law.

Article 32 The foreign exchange administration department of the State Council may regulate and control the foreign exchange market according to the changes in the foreign exchange market and the requirements of monetary policy. management by supervision

Article 33 When performing their duties according to law, the foreign exchange administration organs have the right to take the following measures:

(a) to conduct on-site inspection of financial institutions engaged in foreign exchange business;

(2) Entering a place where foreign exchange violations are suspected to occur for investigation and evidence collection;

(3) Asking institutions and individuals with foreign exchange receipts and payments or foreign exchange business activities to explain matters directly related to the illegal foreign exchange incidents under investigation;

(four) to consult and copy the trading documents and other materials directly related to the illegal foreign exchange events under investigation;

(5) To consult and copy the financial and accounting data and relevant documents of the parties involved in the illegal foreign exchange incident under investigation and the units and individuals directly concerned, and seal up the documents and materials that may be transferred, concealed or damaged;

(six) with the approval of the person in charge of the foreign exchange administration department of the State Council or the provincial foreign exchange administration department, you can inquire about the accounts of the parties involved in the illegal foreign exchange incident under investigation and the directly related units and individuals, except personal savings accounts;

(seven) there is evidence that illegal funds and other property involved have been or may be transferred or concealed, or important evidence has been concealed, forged or destroyed, you can apply to the people's court for freezing and sealing up.

The relevant units and individuals shall cooperate with the supervision and inspection of the foreign exchange bureau, truthfully explain the relevant situation and provide relevant documents and materials, and shall not refuse, obstruct or conceal them.

Article 34 When conducting supervision, inspection or investigation in accordance with the law, foreign exchange control agencies shall have at least two persons participating in the supervision, inspection or investigation, and shall show their certificates. The units and individuals under supervision, inspection and investigation have the right to refuse if there are less than two personnel or fail to show their certificates.

Article 35 Domestic institutions engaged in foreign exchange business shall submit financial and accounting reports, statistical statements and other materials in accordance with the provisions of the foreign exchange administration department of the State Council.

Thirty-sixth financial institutions engaged in foreign exchange business shall report to the foreign exchange administration authorities in a timely manner if they find that their customers have violated foreign exchange laws.

Article 37 The foreign exchange administration department of the State Council may obtain the necessary information from the relevant departments and institutions of the State Council in order to perform the duties of foreign exchange administration, and the relevant departments and institutions of the State Council shall provide it.

The foreign exchange administration department of the State Council shall inform the relevant departments and institutions of the State Council about the foreign exchange administration.

Article 38 Any unit or individual has the right to report foreign exchange violations.

The foreign exchange administration organs shall keep confidential the informants and reward them in accordance with the provisions, or reward units and individuals who have rendered meritorious service in assisting in the investigation and handling of foreign exchange violations. Legal liability

Article 39. Anyone who transfers domestic foreign exchange abroad in violation of regulations, or transfers domestic funds abroad by deception, shall be ordered by the foreign exchange administration to repatriate foreign exchange within a time limit, and shall be fined not more than 30% of the amount of foreign exchange evaded. If the circumstances are serious, a fine of not less than 30% of the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 40 Where foreign exchange is received and paid in RMB in violation of regulations, or false and invalid transaction documents are used to defraud foreign exchange settlement from financial institutions engaged in foreign exchange settlement and sale, the foreign exchange administration authorities shall order them to exchange illegal arbitrage funds and impose a fine of less than 30% of the illegal arbitrage amount; If the circumstances are serious, a fine of not less than 30% of the illegal arbitrage amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 41 Whoever remits foreign exchange into China in violation of regulations shall be ordered by the foreign exchange administration to make corrections and be fined less than 30% of the illegal amount; If the circumstances are serious, a fine of not less than 30% but not more than the equivalent of the illegal amount shall be imposed.

Illegal settlement of foreign exchange shall be ordered by the foreign exchange administration to redeem the foreign exchange funds illegally settled, and a fine of less than 30% of the illegal amount shall be imposed.

Article 42 Anyone who brings foreign exchange into or out of the country in violation of regulations shall be given a warning by the foreign exchange administration and may be fined less than 20% of the illegal amount. Where laws and administrative regulations stipulate that the customs shall impose penalties, such provisions shall prevail.

Forty-third unauthorized foreign loans, foreign bonds, foreign guarantees and other acts. , given a warning by the foreign exchange administration, and impose a fine of less than 30% of the illegal amount.

Article 44 Whoever, in violation of regulations, changes the use of foreign exchange or foreign exchange settlement funds without authorization shall be ordered by the foreign exchange administration authorities to make corrections, confiscate the illegal income and impose a fine of less than 30% of the illegal amount; If the circumstances are serious, a fine of not less than 30% of the illegal amount shall be imposed.

Those who use foreign exchange illegally in violation of regulations, such as settlement in foreign currency or transfer of foreign exchange, shall be ordered to make corrections, given a warning and may be fined up to 30% of the illegal amount.

Article 45 Whoever buys or sells foreign exchange privately, buys or sells foreign exchange in disguised form, profiteers or illegally introduces foreign exchange in a large amount shall be given a warning, his illegal income shall be confiscated and a fine of less than 30% of the illegal amount shall be imposed; If the circumstances are serious, a fine of not less than 30% of the illegal amount but not more than the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 46 Whoever engages in the business of foreign exchange settlement and sale without approval shall be ordered by the foreign exchange administration to make corrections. If there are illegal gains, the illegal gains shall be confiscated. If the illegal income is more than 500,000 yuan, a fine of 1 times but less than 5 times shall be imposed. If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of not less than 500,000 yuan but not more than 2 million yuan shall be imposed; If the circumstances are serious, the relevant competent department shall order it to suspend business for rectification or revoke its business license; If a crime is constituted, criminal responsibility shall be investigated according to law.

Anyone who engages in foreign exchange business other than settlement and sale of foreign exchange without approval shall be punished by the foreign exchange administration organ or the financial industry supervision and regulation institution in accordance with the provisions of the preceding paragraph.

Article 47 If a financial institution is under any of the following circumstances, the foreign exchange administration organ shall order it to make corrections within a time limit, confiscate its illegal income and impose a fine of more than 200,000 yuan but less than 6,543.8+0,000 yuan; If the circumstances are serious or no correction is made within the time limit, the foreign exchange administration organ shall order it to stop the relevant business:

(1) Failing to reasonably examine the authenticity of transaction documents and their consistency with foreign exchange receipts and payments, and handling the receipt and payment of current account funds;

(2) Handling the receipt and payment of capital account funds in violation of regulations;

(3) Handling foreign exchange settlement and sale business in violation of regulations;

(4) Violating the comprehensive position management of foreign exchange business;

(5) Violating the administration of foreign exchange market transactions.

Article 48 Under any of the following circumstances, the foreign exchange administration authorities shall order it to make corrections and give it a warning, and may impose a fine of not more than 300,000 yuan on institutions and not more than 50,000 yuan on individuals:

(1) Failing to declare the balance of payments statistics as required;

(two) failing to submit financial and accounting reports, statistical statements and other materials in accordance with the provisions;

(3) Failing to submit valid documents as required or submitting documents that are untrue;

(4) Violating the provisions on the administration of foreign exchange accounts.

(five) in violation of the provisions on the administration of foreign exchange registration;

(6) Refusing or obstructing the supervision, inspection or investigation by the foreign exchange administration organs according to law.

Article 49 If a domestic institution violates the provisions on foreign exchange control, it shall be punished in accordance with these regulations, and the directly responsible person in charge and other directly responsible personnel shall be punished; The directors, supervisors, senior managers and other directly responsible personnel who are directly responsible for financial institutions shall be given a warning and fined between 50,000 yuan and 500,000 yuan; If a crime is constituted, criminal responsibility shall be investigated according to law.

Article 50 Any staff member of the foreign exchange administration organ who engages in malpractices for personal gain, abuses his power or neglects his duty, which constitutes a crime, shall be investigated for criminal responsibility according to law; If it does not constitute a crime, it shall be punished according to law.

Article 51 If a party refuses to accept a specific administrative act made by the foreign exchange bureau, it may apply for administrative reconsideration according to law; If you are still dissatisfied with the decision of administrative reconsideration, you may bring an administrative lawsuit to the people's court according to law. supplementary terms

Article 52 The meanings of the following terms in these Regulations:

(1) Domestic institutions refer to state organs, enterprises, institutions, social organizations and armed forces in People's Republic of China (PRC), except foreign diplomatic missions, consular offices and representative offices of international organizations in China.

(2) Domestic individuals refer to China citizens and foreigners who have lived in People's Republic of China (PRC) continuously for 65,438+0 years, except foreign diplomats and representatives of international organizations in China.

(3) Current account refers to the transactions involving goods, services, income and current transfer in the balance of payments.

(4) Capital account refers to the transaction items in the balance of payments that cause changes in the level of external assets and liabilities, including capital transfer, direct investment, securities investment, derivative products and loans.

Article 53 The foreign exchange settlement and sale business of non-financial institutions shall be approved by the foreign exchange administration department of the State Council, and the specific administrative measures shall be formulated separately by the foreign exchange administration department of the State Council.

Article 54 These Regulations shall come into force as of the date of promulgation.