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Article 1. For the purpose of expanding exports, supporting excellent enterprises and restricting enterprises which do not behave well in regard to export receipts of foreign exchange, this Detailed Rules was formulated in accordance with the document Provisional Regulations over Examination of Export Receipts of Foreign Exchange, issued by the State Administration of Foreign Exchange (SAFE) and the Ministry of Foreign Trade & Economic Cooperation (MOFTEC). Article 2. "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange", "Ordinary Enterprises for Collection of Export Receipts of Foreign Exchange", "Risky Enterprises for Collection of Export Receipts of Foreign Exchange", and "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange", as referred to in this Detail Rules, are foreign trade enterprises classified in the light of criteria specified in the Provisional Regulations over Examination of Export Receipts of Foreign Exchange and of their behaviors concerning collection of export receipts of foreign exchange during annual examination. Article 3. In order to encourage large-scaled enterprises to export, enterprises are treated as "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" if their annual export value reach US$ 0.2 billion (Positive lists are provided by MOFTEC), ratios of export receipts of foreign exchange are above 85%, and ratios of surrendered verification forms of export receipts are above 80%. Article 4. "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" will be commended by SAFE and MOFTEC by means of publishing in newspaper, and will be notified to customs, tax bureaus and banks. Article 5. "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" will be given top-priority by MOFTEC when competing for Foreign Trade Development Fund, International Economic Cooperation Fund, Fund for Joint Venture or Cooperation Program of Foreign Aid, and etc., or be given preferential treatment when bidding for exportation of goods. Article 6. Lending rates of RMB loans extended by commercial banks to "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" are allowed be lowered up to 10% on the basis of the lending rates fixed by the People's Bank of China (PBOC). Article 7. For "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange", the deadlines before which they must repatriate their foreign exchange profits and other foreign exchange receipts gained from overseas investments are extended from 6 months to one year with the approval of the head office or branches of SAFE (hereinafter the SAFE in Brief). "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" are exempt from guarantee deposits for repatriation of their profits. Article 8. Annual examination over foreign exchange accounts of "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" shall be speeded up and shifted from concentrated examination to examination one by one at real time. Article 9. Deposit ceiling of foreign exchange settlement accounts of "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" is raised from 15% to 30% of their current annual export and import value. Article 10. Facilities are provided to "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" when going through procedures of supervision and verification. (1) Projected date for collection of export receipts of foreign exchange is the same as the date specified in the corresponding export contract; (2) Supervision and verification forms for export receipts of foreign exchange are provided according to the real needs of export enterprises; (3) Special windows will be set up by the SAFE to provide supervision and verification forms and to carry out supervision and verification procedures for "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange". Article 11. For "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" which are not included into the list of enterprises whose imports must be examined by the SAFE to ensure their authenticity, banks are allowed to release foreign exchange to them before rechecking the relevant declaration forms, provided that the import date showed in the declaration forms was before September 1, 1998, payments was made before imported goods were delivered, and declared import value was lower than US$500,000. For importation conducted after September 1, 1998, foreign exchange shall be released after the authenticity of the declaration forms is examined through the Network of Import and Export Declaration Form Verification System. Article 12. For "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" which are grouped under "Category B Enterprises" in accordance with the document GuoShuiFa (1998) 95, Notification of the State Administration of Taxation (SAT) on Classifying Enterprises into Different Categories to Conducting Export Tax Rebate or Exemption, export tax shall be rebated in the same way as "Category B Enterprises" ("Honorable Enterprises for Collection of Export Receipts of Foreign Exchange" which are grouped under "Category A Enterprises" are excluded from this provision). Article 13. SAFE and MOFTEC will notify "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" to news media, and to customs, tax bureaus and banks. Article 14. "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" will be examined rigidly by MOFTEC when competing for Foreign Trade Development Fund, International Economic Cooperation Fund, Fund for Joint Venture or Cooperation Program of Foreign Aid, and etc. Article 15. SAFE will intensify its management of issuance of supervision and verification forms and of supervision and verification procedures to "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange". Article 16. "Risky Enterprises for Collection of Export Receipts of Foreign Exchange" and "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" are treated as "Category C Enterprises" when conducting export tax rebate ("Risky Enterprises for Collection of Export Receipts of Foreign Exchange" and "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" which are grouped under "Category D Enterprises" are treated as "Category D Enterprises" when conducting export tax rebate). Article 17. Lending rates of RMB loans extended by commercial banks to "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" are allowed to be raised up to 30% on the basis of the lending rates fixed by PBOC. Article 18. Titles of "Honorable Enterprises for Collection of Export Receipts of Foreign Exchange", "Ordinary Enterprises for Collection of Export Receipts of Foreign Exchange", "Risky Enterprises for Collection of Export Receipts of Foreign Exchange", and "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" will be null and void one year after being given to enterprises. Article 19. If one enterprise is evaluated as "High-risky Enterprises for Collection of Export Receipts of Foreign Exchange" for one year or as "Risky Enterprises for Collection of Export Receipts of Foreign Exchange" for two consecutive years, its rights to undertaking import and export business will be suspended by MOFTEC or by any institution in charge of foreign trade and economy authorized by MOFTEC. Article 20. PBOC, SAFE, SAT and MOFTEC are responsible for the interpretation of this Detailed Rules. Article 21. These rules will come into force as of April 1, 2000. |
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