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	DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE'S CONGRESS ON PUNISHING CRIMES OF FRAUDULENTLY PURCHASING, EVADING AND ILLEGALLY TRADING IN FOREIGN EXCHANGE

	(Adopted at the 6th meeting of the Standing Committee of the 9th National People's Congress on December 29, 1998 and promulgated by Order No. 14 of the President of the People's Republic of China on December 29, 1998)


SUBJECT : FOREIGN EXCHANGE; CRIMINAL LAW
ISSUING DEPARTMENT : STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS
ISSUE DATE : 12/29/1998
IMPLEMENT DATE : 12/29/1998
LENGTH : 823 words
TEXT :

In order to penalize the crimes such as the defrauding, evading, illegal buying and selling foreign exchange and to maintain the economic order on the foreign exchange administration, the following supplementation and amendments are made to the Criminal Law:

1. For the following crimes, the criminal will be sentenced to different terms of imprisonment and be imposed a certain amount of fine accordingly. If the defrauding amount of the exchange is relatively big, the detention or less than five years imprisonment will be imposed and the fine will be 5%-30% of the defrauding amounts. For the very big amount of defrauding or other involved criminal offences, the term will be around 5-10 years and the fine will be 5%-30% of the defrauding amount. For the extremely big amount of defrauding or other involved serious criminal offences, the term will be more than ten years or even to the life imprisonment, and the fine will be 5%-30% of the defrauding amount even to the confiscation:

(1) Use the forged or falsified certificates or documents such as the Customs declaration form, the import certificate and SAFE authorized documents;

(2) Repeatedly use the certificates or documents such as the Customs declaration form, the import certificate and SAFE authorized documents;

(3) Use other means to defraud foreign exchange.

For the forging or falsifying certificates or documents such as the Customs declaration form, the import certificate and SAFE authorized documents to commit the defrauding, the penalty will be strictly imposed according to the above clauses.

For the knowing provision of the RMB fund to the defrauding of foreign exchange, the penalty will be imposed as the crime of the accomplice.

For the criminal legal entity, in addition to the fine, the leading manager and the responsible person will be detained or be sentenced to less than five years imprisonment. For the very big amount of defrauding or other involved criminal offences, the term will be around 5-10 years. For the extremely big amount of defrauding or other involved serious
criminal offences, the term will be more than ten years or even the life imprisonment.

2. The trading of the forged or falsified certificates or documents such as the Customs declaration form, the import certificate, SAFE authorized documents or other certificates, identification and the seals of the other governmental agencies, will be convicted and penalized according to Article 280 of the Criminal Law.

3. Article 190 of the Criminal Law is amended to: "any company, enterprises or other entity which has deposited foreign exchange abroad without authorization or which has illegally transferred the domestic foreign exchange abroad will be imposed to the fine of 5%-30% of the defrauding amount. In addition to the fine, the leading manager and the responsible person will be detained or be sentenced to less than five years imprisonment. For the very big amount of defrauding or other involved criminal offences, the leading manager and the responsible person will be sentenced to more than five years imprisonment.

4. Except in the authorized trading places, any illegal trading of foreign exchange which has seriously disrupt market will be convicted and penalized according to Article 225 of the criminal law. Any criminal entity will be convicted and penalized according to Article 231 of the Criminal Law.

5. Any staff from the Customs, SAFE, the financial institutions, the import or export companies and enterprises or other entities, who has conspired with the criminal of the defrauding or the evasion of foreign exchange, who has provided foreign exchange purchasing documents or other facilities or who has sold foreign exchange or paid foreign exchange when knowing that the documents or certificates are forged or falsified, will be strictly penalized as the crime of accomplice.

6. Any staff from the Customs or SAFE, whose irresponsibility has caused the big amount of defrauding or the evasion of foreign exchange or has led to the huge loss to the national interests, will be penalized according to Article 397 of the Criminal Law.

7. Any staff from the financial institutions, the import or export companies and enterprises or other entities, whose irresponsibility has caused the big amount of defrauding or evading of foreign exchange or has led to the huge loss to the national interests, will be penalized according to Article 167 of the Criminal Law.

8. The legally captured, confiscated and the fine should be turned over to national treasury without exception.

9. The decree will come into effect since the promulgation.