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In order to support the export enterprises to expand their business, to solve the difficulty of the export enterprises in short-term working funds, and to earnestly prevent the loan risks, it is hereby notified as follows concerning the business of providing loans to the trust accounts for export tax refund: I. The expression "providing loans to the trust accounts for export tax refund" refers to that, to solve the export enterprise's difficulty in short-term working fund resulted from delayed receipt of export tax refunds, and providing that the enterprise's export refund account is trusted to the bank, loans of short-term working funds are provided by commercial banks to the export enterprises, which are guaranteed with the receivable export tax refunds. II. The objects of the loan provided on export refund account shall be the diversified export enterprises that have good credit standing, have committed no act of evading or illegal trading in foreign exchange, or evading or cheating for taxes, have made stable export achievements in the recent years, and have sound financial systems. III. The term of a loan provided to the trust account for export tax refund may not exceed 1 year at the most, and the proportion of the loan may not, as a general principle, exceed 70% of the tax refund that the enterprise shall get, and the loan rate shall comply with the relevant provisions of the People's Bank of China. IV. The loan provided to the trust account for export tax refund is a commercial loan, which shall be subject to the independent examination and decision of the commercial banks. The commercial bank shall come into agreement with the borrower that: the borrower agrees that the loaner controls the account from the day on which the bank grants the loan to the day on which the loan is paid off, and the borrower may not transfer the fund in that account without consent of the loaner. The tax refund in the special export refund account is the guarantee for the export enterprise's repayment of the loan, the commercial bank shall require the enterprise to repay the principal and interest of that loan upon receipt of the tax refund, and the commercial bank may, if necessary, require the export enterprise to provide other guarantees according to the risk degree of the loan. V. The taxation departments at various levels shall, under the premise of not providing any guarantee in any form, earnestly cooperate with the commercial banks in the work relating to loans. The uniqueness of the special export refund account of the borrowing enterprise shall be guaranteed, and it shall be ensured that the tax refund is sent to that special account and may not be transferred; the tax departments may not, without the consent of the loaning bank, handle the formalities for transfer of the special export refund account for the export enterprise before the loan provided to the trust account is paid off (except there are otherwise special provisions in the relevant laws of the state), and the taxation departments at various levels shall facilitate the commercial banks in consulting the credit standing of the export refund enterprises. VI. The departments in charge of foreign trade and economic cooperation shall notify, in good time, the commercial banks of the change of the policies on export refund and the business status of the export enterprises, and shall provide the commercial banks with the name list of the enterprises with good credit standing. VII. The commercial banks shall actively communicate and cooperate with the taxation departments and the departments of foreign trade and economic cooperation at various levels, to earnestly improve the financial services and enhance the service efficiency, and shall strengthen the loan administration, rigidify the pre-examination and post-inspection of the loan in accordance with the relevant provisions of the Law of the People's Republic of China on Commercial Banks and the General Rules for Loans, and thus to earnestly prevent loan risks and to ensure the stable development of this loan business. VIII. The commercial banks may formulate specific implementation measures according to this Circular and in light of the actualities of their respective banks, either may they handle other loan businesses related to export refund according to the actual situations and put on record such businesses with the People's Bank of China. The branches and the business management departments of the People's Bank of China shall reprint this Circular and sent it to the city commercial banks under their respective jurisdiction. |
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