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Chapter I General Rules Article 1 For the purpose of strengthening the administration of bank card business, preventing the risks in bank card business and safeguarding the legitimate rights and interests of commercial banks, cardholders, specially engaged entities and other parties concerned, these Measures are formulated in accordance with the Law of the People¡¯s Republic of China on the People¡¯s Bank of China, the Law of the People¡¯s Republic of China on Commercial Banks, the Regulations of the People¡¯s Republic of China on the Administration of Foreign Exchanges and the relevant administrative laws and regulations. Article 2 The term ¡°bank card¡± as mentioned in these Measures refers to the credit payment instruments issued by commercial banks (including postal financial institutions, same as below) to the society, which have some or all such functions as consumption credit, transfer and settlement and depositing and withdrawing cash, etc. No commercial bank may issue any bank card without the approval of the People¡¯s Bank of China. Article 3 All the commercial banks, cardholders and merchants handling the bank card business within the borders of the People¡¯s Republic of China and other parties concerned shall observe the provisions of these Measures. Article 4 Commercial banks shall conduct information sharing, merchant sharing, machine sharing and other types of bank card business combination on the basis of negotiation and mutual benefit. Chapter II Classification and Definition Article 5 Bank cards are classified into credit cards and debit cards. Bank cards may be classified into RMB cards and foreign currency cards according to the currency type; entity cards (commercial card) and individual cards according to the target of issuance; and magnetic cards and integrated circuit (IC) cards according to the information carrier. Article 6 Credit cards may be classified into credit cards and quasi-credit cards according to the fact that whether an imprest is deposited in the card-issuing bank. Credit card refers to the card which, within the credit limit granted by the card-issuing bank, permits the cardholder to consume before payment. Quasi-credit card refers to the card which requires the cardholder to deposit a certain amount of imprest in the card-issuing bank in advance and permits the cardholder to overdraw within the credit limit prescribed by the card-issuing bank when the balance in the account of imprest is not sufficient to pay. Article 7 Debit cards may be classified into cards for transferring accounts (including savings cards, same as below), cards for special purposes and stored-value cards. Debit cards do not possess the overdrawing function. Article 8 The card for transferring accounts refers to the debit card which makes real-time deduction of accounts. It possesses such functions as transfer, settlement, depositing and withdrawing cash, and consumption. Article 9 The card for special purpose refers to the debit card which is for any special purpose and used in certain specially designated areas. It possesses such functions as transfer, settlement, depositing and withdrawing cash. Special purpose refers to a purpose other than those in the industries of general merchandise, catering, restaurant and entertainment. Article 10 Stored-value card refers to the purse-style debit card which requires advance payment, and when the card-issuing bank transfers the money of the cardholder into this card upon the request of the cardholder and the money is deducted from the card when a transaction is made. Article 11 Co-branded/affinity card is an auxiliary product of bank card issued by a commercial bank by cooperating with a profitable/non-profitable institution, the variety of the bank card it is attached to shall be a variety approved by the People¡¯s Bank of China and its issuance and operation shall observe the business regulations on or administrative measures for the corresponding variety. The card-issuing bank and the co-branded entities shall provide a discount of a certain proportion or special services for the cardholders when they are using the cards in any of the co-branded entities. The cardholders¡¯ act of obtaining and using affinity card indicates their support to the affinity entities. Article 12 Integrated circuit (IC) card may be applied to not only a single variety of bank card but also a combined variety of bank cards. Chapter III Examination and Approval of Bank Card Business Article 13 To operate the bank card business, a commercial bank shall satisfy the following conditions: (1) it shall have been in operation for three years or more and laid a sound foundation for handling retail business; (2) it shall meet the indices set by the People¡¯s Bank of China for asset-liability ratio administration and supervision and it shall be in a good operational condition; (3) it shall have established a scientific and perfect inner control system for this business and have well-defined procedures for the examination and approval of internal authorization; (4) it shall have been equipped with qualified management personnel, technical personnel and corresponding administrative organ; (5) it shall have a safe and highly-efficient computer processing system; (6) in case of issuing any foreign currency card, it shall have obtained the qualification for engaging in the foreign exchange business and have the corresponding managerial and administrative expertise for the foreign exchange business; (7) other conditions prescribed by the People¡¯s Bank of China. Article 14 A commercial bank that satisfies the above-mentioned conditions may apply for operating the bank card business to the People¡¯s Bank of China and shall submit the following materials: (1) application report: to demonstrate the necessity and feasibility and make market forecasts; (2) bank card articles of association or administrative measures, draft card designs; (3) inner control system and risk prevention measures; (4) test report on system security and its competence for technical standards issued by the competent department of science and technology of the People¡¯s Bank of China; (5) other materials required by the People¡¯s Bank of China. Article 15 The articles of association on any bank card of a card-issuing bank shall indicate the following items: (1) the name, variety, functions and purposes of the card; (2) the target of issuance of the card, conditions and procedure for the application of the card; (3) the use range of the card (including the limits in using the card) and how to use it; (4) the interest rate applicable to the account of the card, charging items and rates against the cardholder; (5) the rights and obligations of the card-issuing bank, the cardholder and other parties concerned; (6) other items required by the People¡¯s Bank of China. Article 16 The management power limits and procedures for the examination and approval of a bank card are as follows: (1) To practice any kind of the bank card business, a commercial bank shall respectively formulate unified articles of association or business management measures in accordance with the provisions of the People¡¯s Bank of China on strengthening inner control and the administration of authorization and credit granting and report them to the headquarters of the People¡¯s Bank of China for examination and approval. If the headquarters of the commercial bank is not in Beijing, it shall firstly report them to the local central sub-branch of the People¡¯s Bank of China, which shall, after approving upon examination, forward them to the headquarters of the People¡¯s Bank of China for examination and approval. (2) A commercial bank that has already operated the credit card or transfer card business may apply to the People¡¯s Bank of China for issuing co-branded/affinity cards, cards for special purposes and stored-value cards; a commercial bank that has already operated the RMB credit card business may apply to the People¡¯s Bank of China for issuing foreign currency credit cards. (3) Where a commercial bank intends to issue affinity cards, IC cards or stored-value cards that may be used nationwide, it shall report it to the headquarters of the People¡¯s Bank of China for examination and approval. (4) Where a branch institution of a commercial bank operates the bank card business approved by the headquarters of the People¡¯s Bank of China, it shall report it to the local branch of the People¡¯s Bank of China for record with the approval document of the People¡¯s Bank of China and the document on the authorization of its headquarters. Where a branch institution of a commercial bank issues cards for special purposes or co-branded cards that may only be used in certain regions, it shall report it to the local central sub-branch of the People¡¯s Bank of China for record with the document on authorization of the headquarters of the commercial bank or the agreement concluded by both co-branded parties. (5) Where a commercial bank changes the name of any bank card or revises the articles of association on bank card, it shall report it to the People¡¯s Bank of China for examination and approval. Article 17 To operate bank card acceptance business, a foreign-funded financial institution shall obtain the approval of the People¡¯s Bank of China. Bank card acceptance business refers to the domestic or foreign currency capital settlement service provided by a contractual bank for its merchants. Chapter IV Interest Calculation and Charging Rates Article 18 Bank card interest calculation shall include the calculation of the interests to be collected and the calculation of the interests to be paid, both of which shall be examined and calculated in accordance with the provisions of the Financial Rules for Financial and Insurance Enterprises. Article 19 As for the deposits in the accounts of quasi-credit cards and debit cards (excluding stored-value cards), the card-issuing bank shall calculate and pay interests in accordance with the deposit interest rate of the same term and same grade and the methods for interest calculation as prescribed by the People¡¯s Bank of China. A card-issuing bank shall not calculate and pay interests on the deposits in the accounts of credit cards and the currency value of the stored-value cards (including the electronic purses of IC cards). Article 20 A credit cardholder may enjoy the following favorable terms when making non-cash transactions: (1) interest-free payment period: a period from the booking date of the bank to the date when payment is due as prescribed by the card-issuing bank, the longest term of such period is 60 days. The cardholder, as long as he/she repays all the used funds of the bank before the date when payment is due, may enjoy this treatment and does not have to pay any interest for any non-cash transaction. (2) minimum payment: where it is difficult for the cardholder to repay all the funds of the bank before the date when payment is due, he/she may repay the minimum amount as prescribed by the card-issuing bank. Article 21 Where a credit cardholder chooses to repay the minimum amount or uses the card by exceeding the credit limit approved by the card-issuing bank, he/she may not enjoy the treatment of interest-free payment period, but shall pay overdraft interests on the unpaid amount calculated from the book date of the bank on the basis of the prescribed interest rate. A credit cardholder who withdraws cash or overdraws quasi-credit card may not enjoy the treatment of interest-free payment period and the treatment of minimum payment, but shall pay the overdraft interests, which are calculated from the book date of the bank on the basis of the prescribed interest rate, for the cash transaction or overdraft. Article 22 Where a credit cardholder fails to repay the minimum payment or uses the credit card by exceeding the credit limit, the card-issuing bank shall impose a fine for delayed payment or charge fees for exceeding the credit limit on the basis of 5% of the unpaid amount or the amount spent by exceeding the credit limit. Article 23 Compound interest shall be calculated and collected on a monthly basis as for the overdraft of credit card and simple interest shall be calculated and collected on a monthly basis as for the overdraft of quasi-credit card. The overdraft interest rate shall be 0.05% of the daily interest rate and shall be adjusted with the adjustment of the daily interest of the People¡¯s Bank of China. Article 24 When handling bank card acceptance business, a commercial bank shall collect settlement handling charges against the merchants in accordance with the following standards: (1) as for such industries as hotel, catering, entertainment and tourism, the settlement handling charges shall not be less than 2% of the trading value; (2) as for any other industry, the settlement handling charges shall not be less than 1% of the trading value. Article 25 As for a trans-bank transaction, the settlement handling charges shall be allocated in accordance with the following proportion: (1) if it is in a city which has not established an information exchange center, 90% of the settlement handling charges collected against the merchants shall be allocated to the card-issuing bank, while 10% to the acceptance bank; (2) if it is in a city which has established an information exchange center, 80% of the settlement handling charges collected against the merchants shall be allocated to the card-issuing bank, while 10% to the acceptance bank and 10% to the information exchange center. Article 26 The cost incurred from trans-bank withdrawal at ATM by a cardholder shall be born by the cardholder himself/herself, and the charging rates are as follows: (1) the fees collected for each withdrawal made by a cardholder within the city where the card is obtained shall be 2 yuan or less; (2) the fees collected for each withdrawal made by a cardholder beyond the city where the card is obtained shall be 8 yuan or less. 70 % of the commission charges obtained from a trans-bank withdrawal at ATM shall be allocated to the bank that owns the ATM and 30% to the information exchange center. Article 27 A commercial bank, when operating overseas bank card acceptance business upon agency, shall collect settlement handling charges against the merchants, which shall not be less than 4% of the trading value. As for the ratio for profit sharing concerned in the agency agreement on bank card acceptance business concluded by a domestic bank and an overseas institution, 37.5% of the commission charges paid by the merchants shall be allocated to the domestic bank, while 62.5% to the overseas institution. Chapter V Account and Trade Management Article 28 When obtaining a bank card (excluding stored-value cards), an individual shall provide his/her valid identity certificate as prescribed by the public security department for the card-issuing bank, which shall open an inscribed account for him/her after determining him/her as qualified upon examination. Any entity that opens a basic deposit account in any financial institution that is within the borders of China shall be entitled to obtain an entity card upon the strength of the license for opening an account issued by the People¡¯s Bank of China upon examination; A bank card and its account may only be used by the cardholder as approved by the card-issuing bank and may not be leased or lent. Article 29 As for the account of a RMB entity card, funds shall be deposited by means of transferring from the basic deposit account of the entity, no cash may be deposited or withdrawn, and no revenue from merchandise sales may be deposited into the account of the entity card. Article 30 As for the account of a foreign currency entity card, funds shall be deposited by means of transferring from the foreign exchange account of the entity, and no foreign currency banknote may be deposited or withdrawn within the borders of China. The foreign exchange account of the entity shall satisfy the following conditions: (1) it shall be opened in accordance with the relevant provisions of the People¡¯s Bank of China on the administration of domestic foreign exchange accounts; (2) its scope of revenue and expenditure shall include corresponding payment content. Article 31 The funds deposited in the account of the RMB card of an individual shall be the cash he/she holds, or the wage, legal personal compensation for services and investment returns of the individual which are deposited by means of account transfer. Article 32 The funds deposited in the account of the foreign currency card of an individual shall be the foreign currency banknotes he/she holds or the funds transferred from his/her foreign exchange account (including foreign banknote account). The transfer and deposit business of such account shall be handled in accordance with the Measures of the State Administration of Foreign Exchange for the Administration of Individual Foreign Exchange. The withdrawal of foreign currency banknotes with an individual foreign currency card within the borders of China shall be handled in accordance with the individual foreign exchange control system of China. Article 33 Except that it is within the scope or belongs to the regions designated by the State Administration of Foreign Exchange, no settlement may be made, as a general rule, on the basis of foreign exchange within the borders of China as for a foreign currency card. Article 34 A cardholder may apply for canceling his account after paying off all the money for transactions, principal and interest of overdraft and the relevant charges. When canceling an account, the capital in a RMB entity account shall be transferred into the basic savings account of the entity, the capital in a foreign currency entity card shall be transferred into the corresponding foreign exchange account of the entity, and no cash may be drawn. Article 35 A RMB entity card may go through the formalities for the settlement of the funds for commodity transactions and labor service provision but may not be overdrawn; where it exceeds the starting point prescribed by the People¡¯s Bank of China, the transfer of foreign exchange shall be handled at the local branch of the People¡¯s Bank of China. Article 36 A card-issuing bank shall grant authorization to each cash withdrawal of credit card, the accumulated amount of the cash withdrawn each day for each card shall not be more than 2000 yuan. A card-issuing bank shall set an upper limit for the withdrawal made on ATM, the accumulated amount of the cash withdrawn each day for each card shall not be more than 5000 yuan. Article 37 The par value or the value stored in a stored-value card shall not be more than 1000 yuan. Article 38 When issuing affinity card, no commercial bank may make any donation or pay any other fees to any affinity entity out of its revenues. Article 39 Where a card-issuing bank handles the transaction of deposit, withdrawal, account transfer, settlement or any other transaction for a cardholder upon such electronic information as password, all the electronic information recording generated therefrom shall be the valid credentials of this transaction. The card-issuing bank may take the itemized record or detailed list of the transaction as the evidence for keeping account. Article 40 The original documents on any transaction made with a bank card through any interconnected terminal shall be kept for at least two years for future reference. Chapter VI Bank Card Risk Management Article 41 A card-issuing bank shall seriously examine the credit status of an applicant for credit card and determine the effective guarantee and guarantee method according to the credit status of the applicant. A card-issuing bank shall recheck the credit status of a credit cardholder on a regular basis and adjust the credit limit of the cardholder according to the change of the credit status. Article 42 A card-issuing bank shall establish a system for approval authorization and clearly define the approval power and transaction limit of its internal staff of all levels. Article 43 A card-issuing bank shall strengthen the management of the name list of stop payment and receive and send the list in a timely manner. Article 44 As for any agency business handled through a debit card, the card-issuing bank may not make advance payment for the cardholder or the client. Article 45 A card-issuing bank shall observe the following risk control indices for the credit card business: (1) the amount occurred in a single overdraft by a same cardholder shall not be more than 20,000 yuan (including the equivalent of foreign currency) as for an individual card, and not more than 50,000 yuan (including the equivalent of foreign currency) as for an entity card. (2) the monthly overdraft balance of a same account shall not be more than 50,000 yuan (including the equivalent of foreign currency) as for an individual card, and not more than 3% of the comprehensive credit limit extended by the card-issuing bank to the entity as for an entity card. As for an entity without comprehensive credit limit, its monthly overdraft balance shall not be more than 100,000 yuan (including the equivalent of foreign currency). (3) the overdraft amount of a foreign currency card may not exceed 80% of the guarantee money (including the amount from pledging the certificate of deposits) of the cardholder. (4) the monthly average overdraft balance newly occurred in 180 days or more since the date when these Measures come into force may not exceed 15% of the monthly average amount of the total overdraft balance. Article 46 The longest overdraft term of a quasi-credit card shall be 60 days. The minimum payment of a credit card in the first month shall not be less than 10% of the overdraft balance of that month. Article 47 A card-issuing bank may recover the money overdrawn or defrauded through the following channels: (1) deducting the guarantee money of the cardholder, disposing the collaterals or pledged objects according to law; (2) recovering the overdrawn amount from the guarantor; (3) recovering the amount through judicial procedures. Article 48 Where it is still insufficient to make up the loss after adopting the measures listed in Article 47, a card-issuing bank shall handle in accordance with the Measures for the Administration of the Reserves for Bad Loans. Article 49 As for an overdraft recovered after it is canceled, its principal and interest shall be added to the reserves for bad loans. Article 50 Where a branch of a commercial bank contributes funds to participate in the bank card information exchange center of the city where it is located, it shall report it to its headquarters for approval. Chapter VII Duties and Responsibilities between the Bank Card Parties Article 51 A card-issuing bank¡¯s rights are as follows: (1) it is entitled to examine the credit status of an applicant, ask for the personal information of an applicant, decide whether to issue bank card to an applicant and determine the overdraft limit granted to a credit cardholder. (2) it has the right to recover the overdraft made by a cardholder. Where a cardholder fails to repay the overdraft amount within the prescribed time limit, it is entitled to apply for legal protection and subject the cardholder or the relevant parties concerned to legal liabilities. (3) it has the right to cancel the cardholder qualification of a cardholder that fails to observe its articles of association and may authorize the relevant entity to take back the bank card. (4) it may refuse to handle the reporting of loss of the electronic purse in any stored-value card or IC card. Article 52 A card-issuing bank¡¯s obligations are as follows: (1) It shall provide the relevant materials on the use of bank card for an applicant for bank card, including the articles of association, directions for use and charging rates. Any current cardholder may ask for the above-mentioned materials too. (2) It shall design a fair and effective complaint system aiming at bank card services and publicize the complaint procedures and telephone number. It shall give a reply on the inquiry or requirement of correction made by a cardholder within 30 days. (3) It shall provide account-checking services for cardholders. It shall provide account statements for cardholders on a monthly basis except it is under any of the following circumstances: a. it has already provided a deposit book or any other transaction log to the cardholder; b. the cardholder has not conducted any transaction after the account statement of the previous month is made and the account of the cardholder does not have any unpaid balance; c. it has agreed otherwise with the cardholder. (4) The bank card account statement provided by the card-issuing bank to a cardholder shall list the following items: a. trading value, account balance (and the date when repayment is due, minimum payment and available credit limit shall also be listed as for a credit card); b. date when the trading value is recorded into the relevant account or self-owned account for deduction; c. trading date and category; d. number of transaction logs; e. name and code number of the merchant acting as the object of payment (except the transactions conducted in other places); f. address or telephone number for inquiring about or reporting inconsistent account statements. (5) A card-issuing bank shall provide bank card loss reporting service for cardholders, set up a round-clock telephone line for loss reporting service, and provide two ways for loss reporting, namely via telephone or in written form, and the latter is the official way for loss reporting. A card-issuing bank shall also clarify the responsibilities for loss reporting of both the card-issuing bank and the cardholder in the article of association or the relevant agreement. (6) A card-issuing bank shall explain the importance of password and the responsibility for its loss to the cardholders in the relevant articles of association on bank card or the directions for use. (7) A card-issuing bank is obliged to keeping secret for the credit information of the cardholders. Article 53 A cardholder¡¯s rights are as follows: (1) A cardholder is entitled to all kinds of services on bank card as promised by the card-issuing bank, has the right to supervise the service quality and complaint the incompetent service. (2) An applicant or cardholder is entitled to be informed of the functions, use methods, charging items, charging rates, applicable interest rate and the relevant calculation formula of the card he/she/it selected. (3) A cardholder is entitled to demand the account statement from the card-issuing bank within the prescribed time limit and has the right to inquire about the inconsistent content or ask the bank to correct. (4) After the formalities for reporting the loss of a debit card are conducted, the cardholder shall not bear the responsibility for the change of the capital deposited in the debit card any more, except it is adjudicated otherwise by the judicial organ or arbitral organ. (5) A cardholder has the right to demand the agreement on obtaining credit card and shall properly keep the agreement. Article 54 A cardholder¡¯s obligations are as follows: (1) An applicant shall provide authentic application materials for a card-issuing bank and provide guarantee satisfying the relevant conditions in accordance with the provisions of the card-issuing bank. (2) A cardholder shall observe the articles of association of the card-issuing bank and the relevant clauses of the Agreement on Obtaining Bank Card. (3) Where the address or occupation of a cardholder or guarantor changes, the card-issuing bank shall be informed in written form in a timely manner. (4) No cardholder may refuse to pay the funds owed to the card-issuing bank under the pretext of having any dispute with any merchant. Article 55 When developing a merchant that accepts bank card business, a commercial bank shall conclude an acceptance agreement with the merchant, which may not include any exclusive clause. If the charging rates for commission charges stipulated in an acceptance agreement are below the standards prescribed in these Measures, the agreement shall not be protected by law. Article 56 Both the application form for bank card and the agreement on obtaining bank card are contractual documents provided by a card-issuing bank for a cardholder to determine the rights and responsibilities of both parties, the signature of the cardholder indicates his/her acceptance of all the provisions therein. The card issuing bank shall formulate bankcard application forms and credit card application agreements by observing the principle of equivalence between rights and obligations. Chapter VIII Penalty Rules Article 57 Where any commercial bank is under any of the following circumstances, the People¡¯s Bank of China shall order it to correct; where there is any illegal gains, it may impose a fine of not less than double the illegal gains but not more than 3 times the illegal gains, but the fine may not exceed 30,000 yuan; where there is not illegal gains, it may impose a fine in accordance with the relevant laws and regulations; where the circumstance is serious, the directly liable person in charge and the relevant directly liable personnel shall be subject to administrative liabilities, and the relevant leaders shall also be subject to legal liabilities if the circumstance is serious: (1) issuing bank cards without authorization or having any fraudulent act in applying for operating bank card business; (2) violating the standards for interest calculation or the charging rates stipulated in these Measures; (3) violating any provision of these Measures on the administration of bank card accounts and transactions. Article 58 Where any card-issuing bank fails to observe the risk management measures or risk control indices prescribed in these Measures, the People¡¯s Bank of China shall order it to correct and circulate a notice of criticism. Article 59 Where any cardholder leases or lends his/her credit card or the corresponding account, the card-issuing bank shall order him/her to correct and impose a fine of not more than 1000 yuan (which shall be stipulated by the card-issuing bank in the application form, card application agreement or any other contractual document in advance). Article 60 Where any cardholder deposits the cash of an entity into the account of entity card or deposits the funds of an entity into the account of individual card, the People¡¯s Bank of China shall order him/her to correct and impose a fine of not more than 1000 yuan upon the entity that owns the entity card and the cardholder that owns the individual card. Article 61 Any entity or individual, under any of the following circumstances, shall be handled in accordance with the Criminal Law of the People¡¯s Republic of China and the relevant laws and regulations: (1) obtaining any credit card by any fraudulent means or falsely using credit card; (2) forging or altering any bank card; (3) making baleful overdrafts; (4) defrauding bank funds by using bank card or the relevant machines. Article 62 Where any foreign-funded financial institution operates credit card acceptance business without authorization, the People¡¯s Bank of China shall order it to correct and impose a punishment in accordance with the relevant provisions of the Regulations on the Administration of Foreign-funded Financial Institutions. Article 63 Where any representative agency of a non-financial institution or financial institution operates bank card business, the People¡¯s Bank of China shall cancel it according to law. Chapter IX Supplementary Rules Article 64 A commercial bank (or financial institution) within the borders of the People¡¯s Republic of China shall, when issuing any variety of bank card (except those with the mark of any international credit card organization), implement the technical standards prescribed by the state, As for an entity card, relief stamp of such characters as ¡°DWK¡± shall be made at a proper place of the bottom left of the card. The following elements shall be indicated on the surface of a bank card: name of the primary legal person of the card-issuing bank, uniform brand name, brand mark (except the cards for special purposes), card number (except IC cards), points of attention for the cardholder, customer service telephone number, signature bar for the cardholder (except IC cards), etc. Article 65 As for the domestic circulation and use of bank cards issued by other financial institutions and overseas institutions approved by the People¡¯s Bank of China as qualified for operating bank card business, these Measures shall apply. Article 66 The power to interpret these Measures shall remain with the People¡¯s Bank of China. Article 67 These Measures shall come into force as of March 1st, 1999. All the card-issuing banks shall meet the relevant requirements prescribed in these Measures within half a year. The Measures for the Administration of Credit Card Business (No. 27 [1996] of the People¡¯s Bank of China) promulgated by the People¡¯s Bank of China in 1996 shall be abolished simultaneously. Where any provision on bank card management promulgated by the People¡¯s Bank of China before these Measures are promulgated conflicts with these Measures, the latter shall prevail. |
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