Chapter I General Provisions Article 1 These Measures are formulated in order to strengthen the management of foreign debts, standardize the borrowing of foreign debts, improve the efficiency in the use of foreign debts and prevent foreign debts risks. Article 2 The term "foreign debts" as mentioned in these Measures refers to foreign currency debts incurred by domestic institutions to non-residents. Article 3 The term "domestic institutions" as mentioned in these Measures refers to permanent institutions established in China according to law, including but not limited to government agencies, domestic financial institutions, enterprises, institutions and social organizations. Article 4 The term "non-residents" as mentioned in these Measures refers to institutions and natural persons outside China and their non-permanent institutions established in China according to law. Article 5 According to the types of debts, foreign debts are divided into loans from foreign governments, loans from international financial organizations and international commercial loans.

(1) Loans from foreign governments refer to official credits borrowed by the China government from foreign governments;

(2) Loans from international financial organizations refer to non-commercial loans borrowed by the Government of China from international and regional financial institutions such as the World Bank, the Asian Development Bank and the United Nations Fund for Agricultural Development;

(3) International commercial loans refer to commercial loans borrowed by domestic institutions from non-residents. Including:

1. Borrow from overseas banks and other financial institutions;

2. Borrowing from overseas enterprises, other institutions and natural persons;

3. Overseas issuance of medium and long-term bonds (including convertible bonds) and short-term bonds (including commercial paper and large negotiable certificates of deposit, etc.). );

4. Buyer's credit, deferred payment and other forms of trade financing;

5. International financial leasing;

6. Non-resident foreign currency deposits;

7. Debt paid in cash in compensation trade;

8. Other international commercial loans. Article 6 According to the obligation of repayment, foreign debts are divided into sovereign foreign debts and non-sovereign foreign debts.

(1) Sovereign foreign debt refers to the foreign debt borrowed by the State Council authorized institutions on behalf of the state and repaid by the state credit guarantee.

(2) Non-sovereign foreign debt refers to foreign debt other than sovereign foreign debt. Article 7 The term "external guarantee" as mentioned in these Measures refers to the guarantee provided by domestic institutions to non-residents by way of guarantee, mortgage or pledge in accordance with the Guarantee Law of People's Republic of China (PRC).

The potential external repayment obligation formed by external guarantee is contingent foreign debt. Article 8 The State exercises comprehensive management over all kinds of foreign debts and contingent foreign debts. The use and repayment of borrowed foreign debts, foreign guarantees and foreign debt funds shall comply with the provisions of relevant state laws, regulations and these Measures. Article 9 The State Development Planning Commission, the Ministry of Finance and the State Administration of Foreign Exchange are the foreign debt management departments. Chapter II Borrowing Foreign Debt and External Guarantee Article 10 The State Development Planning Commission shall, in conjunction with relevant departments, formulate a national foreign debt borrowing plan according to the needs of national economic and social development, the balance of payments situation and foreign debt affordability, and reasonably determine the total amount and structural control targets of full-caliber foreign debt. Article 11 The State shall, according to the types of foreign debts, repayment obligations and the nature of debtors, implement classified management of foreign debts borrowed. Article 12 Loans from international financial organizations and loans from foreign governments shall be borrowed by the state.

The State Development Planning Commission shall, jointly with the Ministry of Finance and other relevant departments, formulate alternative project plans for loans from the World Bank, the Asian Development Bank, the United Nations Fund for Agricultural Development and foreign governments. The Ministry of Finance shall organize foreign negotiations, consultations and sign loan agreements according to the plans, and lend to domestic debtors directly or through relevant financial institutions. Among them, the World Bank, the Asian Development Bank, the United Nations Fund for Agricultural Development and key countries' foreign government loan alternative project planning must be approved by the State Council. Article 13 When the Ministry of Finance issues bonds overseas on behalf of the State, it shall report to the State Council for approval and incorporate them into the national foreign debt borrowing plan. The issuance of medium-and long-term bonds by other domestic institutions abroad shall be examined by the State Development Planning Commission in conjunction with the State Administration of Foreign Exchange and submitted to the State Council for approval; The overseas issuance of short-term bonds shall be examined and approved by the State Administration of Foreign Exchange, and the rolling issuance shall be examined and approved by the State Administration of Foreign Exchange in conjunction with the State Development Planning Commission. Article 14 The state shall manage the balance of medium and long-term international commercial loans borrowed by state-owned commercial banks, and the balance shall be audited by the State Development Planning Commission in conjunction with relevant departments and submitted to the State Council for approval. Fifteenth domestic Chinese-funded enterprises and other institutions to borrow long-term international commercial loans, must be approved by the State Development Planning Commission. Article 16 The State shall manage the balance of short-term international commercial loans borrowed by domestic Chinese-funded institutions, and the balance shall be examined and approved by the State Administration of Foreign Exchange. Article 17 The state shall control the total amount of foreign debts borrowed by domestic foreign-funded financial institutions, and the specific measures shall be formulated separately. Article 18 The sum of the accumulated long-term and short-term foreign debts borrowed by foreign-invested enterprises shall be controlled within the difference between the total investment of the project approved by the examination and approval department and the registered capital.

Within the margin, foreign-invested enterprises can borrow foreign debts on their own. If the difference is exceeded, the total investment of the project shall be re-approved by the original examination and approval department. Article 19 Domestic institutions shall abide by the laws and regulations of the state and the relevant provisions of the foreign exchange administration when providing external guarantees. Article 20 Domestic institutions shall not provide guarantees for non-operating overseas institutions. Twenty-first without the approval of the State Council, no government organ, social organization or institution may borrow foreign debts or provide external guarantees. Article 22 After signing a loan contract or guarantee contract, a domestic institution shall go through the registration formalities with the foreign exchange administration department in accordance with relevant regulations. The loan contract or guarantee contract of an international commercial loan shall be registered before it takes effect.