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According to the relevant regulations set by the People's Bank of China on the business of import and export of gold upon the entrustment of commercial banks (currently limited to the Bank of China, the Commercial and Industrial Bank of China, the Agricultural Bank of China, and the China Bank of Construction), and in order to standardize the collection and payment in foreign exchange, the verification and cancellation in import and export of gold, with the permission of the Bureau of Currency, Gold and Silver Administration of the People's Bank of China, the relevant problems are hereby notified as follows: 1. Due to the peculiarity of the People's Bank of China in the business of gold import and export upon the entrustment of commercial banks, the commercial banks, as the entrusting parties, should be in charge of the collection and payment in foreign exchange, the verification and cancellation, whenever the People's Bank of China is to conduct the entrusted business of gold import and export. 2. The commercial banks shall make a schedule for the import and export of gold every year and report to the People's Bank of China for approval. The commercial banks shall present to the State Administration of Foreign Exchange the application letter and the approval document of the People's Bank of China to apply for the quota of foreign exchange in gold import. The commercial banks shall pay for gold import in foreign exchange within the limit of the quota approved by the State Administration of Foreign Exchange. The annual total amount of the payment in exchange shall not exceed the quota approved. 3. The commercial banks shall present the instrument for verification and writing-off of payment in exchange for import, the customs declaration for import of goods with "the People's Bank of China" as the importer, the voucher for the People's Bank of China entrusted by the commercial banks to import and export gold, the contract or agreement, the confirmation letter of transaction and other related valid documents to go through the procedures of payment for import of gold in foreign exchange. 4. The commercial banks shall, within 30 workdays away from the date of payment, present the relevant documents such as the instrument for verification and writing-off of payment in exchange for import, the customs declaration for import of goods with the People's Bank of China as the importer (photocopy), and the confirmation letter of transaction to go through the investigation procedure of verification and cancellation of payment in exchange for imports in Beijing Foreign Exchange Administration. 5. In gold export, the personnel for verification and cancellation designated by the commercial banks shall present the enterprise operator IC card of the "Port Electronic Enforcement System" authorized by the People's Bank of China to go through the procedure of application for the instrument for verification and writing-off of collection of import proceeds in foreign exchange; and present the voucher for the People's Bank of China entrusted by the commercial banks to import and export gold, the customs declarations for exporting goods, the instrument for verification and writing-off of collection of export proceeds in foreign exchange, the contract or agreement of export or the special instrument for verification and writing-off of collection of export proceeds in foreign exchange with the commercial banks as the collector (in case of goods returned, the customs declaration for import of goods with the People's Bank of China as the importer shall be presented), to go through the procedure of verification and cancellation of collection of export proceeds in foreign exchange. 6. The commercial banks shall regard themselves as the clients in the collection of gold export proceeds and payment for gold import in foreign exchange. And they shall report the balance of the international payment according to the relevant regulations of the "Procedures for Reporting Balance of International Payments", the "Implementation Rules for the Procedures for Reporting Balance of International Payments", and the "Operational Rules for the Procedures for Reporting Balance of International Payments through Financial Institutions". 7. The notice goes into effect since the date of issuance. Where there are regulations contrary to this one, the present notice shall prevail. |
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