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	CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE AND THE GENERAL ADMINISTRATION OF CUSTOMS ON WITHDRAWING THE EXPORT OF TOURIST COMMODITIES FROM THE ADMINISTRATION OF FOREIGN EXCHANGE VERIFICATION AND WRITE-OFF

	(No. 91 [2005] of the State Administration of Foreign Exchange December 7, 2005)


SUBJECT : FOREIGN EXCHANGE VERIFICATION; THE EXPORT OF TOURIST COMMODITIES; WITHDRAWAL
ISSUING DEPARTMENT : THE STATE ADMINISTRATION OF FOREIGN EXCHANGE, THE GENERAL ADMINISTRATION OF CUSTOMS OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 12/07/2005
IMPLEMENT DATE : 12/01/2005
LENGTH : 479 words
TEXT :

In order to facilitate the trade and fit in with the features of export of tourist commodities and proceeds in foreign exchange, the State Administration of Foreign Exchange and the General Administration of Customs have decided to withdraw the export of tourist commodities from the administration of foreign exchange verification and write-off. We hereby notify the relevant issues as follows:

1. The customs supervision means for "tourist commodities" (code 0139) shall be incorporated into the "supervision means by which no application of lists of write-off of export proceeds in foreign exchange is required". Where an export entity declares its export to the customs by the said means of trade, the customs may no longer conduct any examination on the list of write-off of export proceeds in foreign exchange and the State Administration of Foreign Exchange and the branches and sub-branches thereof (hereinafter referred to as the "foreign exchange bureaus") may no longer handle any verification and write-off for the collection of export proceeds in foreign exchange.

2. A designated foreign exchange bank shall not produce any special page of verification form for any collection (settlement) of foreign exchange under the item of tourist commodities of an export entity.

3. Any collection (settlement) of foreign exchange under the item of tourist commodities shall not be applied to the verification and write-off of export proceeds in foreign exchange by any other means of trade.

4. As to any datum regarding export that hasn't been written off under the item of tourist commodities and still exists in the "System of Verification and Report of Export Proceeds in Foreign Exchange" (hereinafter referred to as the "Verification and Report System"), if no more report on verification and write-off of export proceeds in foreign exchange is required from the relevant export entity, the foreign exchange bureaus may directly subject it to the verification for no collection of proceeds in foreign exchange in the Verification and Report System. The foreign exchange bureaus shall straighten out and delete those data under the item of tourist commodities, informing that the proceeds in foreign exchange has been collected but the relevant verification hasn't been conducted in the Verification and Report System on a periodic base.

5. The present Circular shall come into force as of December 1, 2005. If any provision as promulgated before has any conflict with the present Circular, the present Circular shall prevail.

All branches are required to forward the present Circular to the central sub-branches, foreign-funded banks and relevant entities within their jurisdiction as soon as possible. All the designated Chinese-funded foreign exchange banks shall, after receiving the present Circular, forward it to the branches and sub-branches under jurisdiction as soon as possible. In case any problem arises in the process of implementation, please feed it back to the administrative department of current accounts of the State Administration of Foreign Exchange in a timely manner.