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TABLE OF CONTENTS CHAPTER I GENERAL PROVISIONS CHAPTER II WORK OF PRELIMINARY STAGE CHAPTER III THE DRAFTING OF DESIGN DOCUMENTS AND EXAMINATION CHAPTER IV LENDING AGREEMENT NEGOTIATION, INDIRECT LENDING AND VALIDITY OF AGREEMENT CHAPTER V ANNUAL PLAN CHAPTER VI PROJECT PROGRESS REPORT, COMPLETION REPORT AND POST-EVALUATION REPORT CHAPTER VII SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. Utilizing foreign loans is an important measure to introduce foreign advanced equipment, technologies and management experiences, and to accelerate the construction and development of railways. In order to make use of foreign investments actively, reasonably and effectively, to regulate the administration of foreign loan project investment plans, to enhance the quality and efficiency for the utilization of foreign loans on railways, the present Measures are formulated in accordance with the relevant provisions of the state governing the utilization of foreign loans and fixed assets investment plans. Article 2. The present Measures shall be applicable to the foreign loan projects subject to the management of the Ministry of Railway. Article 3. The term "the utilization of foreign loans on railway" refers to the Ministry of Railway's utilization of loans granted by international financial organizations, loans granted by foreign governments, and international commercial loans. Article 4. When utilizing foreign loans, the Ministry of Railway shall carefully implement the relevant guidelines, policies of the state, and the relevant regulations of the Ministry of Railway, and shall abide by the pertinent requirements of foreign loan-granting institutions, and shall strictly perform the loan agreements Article 5. The utilization of foreign loans on railway shall be in line with and contributive to the overall railway development plan, and shall combine with the fixed assets investment plans on construction and technological renovation. Article 6. Foreign Investments Utilization and Technology Introduction Center of the Ministry of Railway (hereinafter referred to FIUTIC) is the department of the Ministry of Railway undertaking the utilization of foreign loans on railway. It shall be responsible for the organization, coordination and management of foreign-related work. All relevant departments shall strengthen cooperation with one another, shall do a good job within their respective functions. Article 7. According to the management forms of investment plans, foreign loan projects are classified into three categories: (1) Large and medium-sized construction projects. The foreign loan construction projects within the scope of large and medium-sized scale and budgetary estimation approved by the Ministry of Railway; (2) Small projects. Large and medium-sized non-construction projects are listed into this category, including the "relevant projects" under the large and medium-sized construction projects, but excluding the locomotive and car purchase projects; and (3) Locomotive and car purchase projects. CHAPTER II WORK OF PRELIMINARY STAGE Article 8. The major preliminary work of a foreign loan project includes: making medium- and long-term plans, putting forward foreign loan project proposals, reporting projects to the administrative department of the state for examination and adoption as a pipeline project, submitting loan application documents on behalf of the Ministry of Railway and cooperating with the loaners in conducting project investigation, pro-evaluation and evaluation. Article 9. Making medium- and long-term plans on foreign loans. The plan makers shall implement the basic policies of the state on utilizing foreign loans, base on the medium- and long-term plans about the construction of railway and combine with the sources of foreign loans. The medium- and long-term plans on foreign loans shall be drafted by the Development Planning Department (hereinafter referred to DPC) jointly with the FIUTIC, which shall form the basis of proposals of foreign loans projects after being examined and approved by the leaders of the Ministry. Article 10. The FIUTIC shall, jointly with the DPC and other departments and bureaus, raise a plan on the sources of the to-be-utilized foreign loans after having taken full account of the credit policies of foreign loan-granting institutions and the policies of our country about dealing with different countries on their own merits. After the aforesaid plan is approved by the leaders of the Ministry, a proposal about foreign loan utilization projects of the Ministry of Railway shall be raised to the administrative department of the state. The FIUTIC shall, according to the decisions of the administrative department of the state and the requirements of foreign loan-granting institutions, shall assign to the lower-level departments tasks of making loan application documents. The drafting entities shall report and submit the application documents in time. The FIUTIC shall be responsible for the organization and designing of the application documents, which shall be submitted to the competent authorities upon the examination of the project entities and the relevant interior departments of the Ministry. Article 11. The main application documents of a large- and medium-sized construction project include: the feasibility study reports on the foreign loan utilization project (including a purchase list, a report about the impact of the project on the environment), a resettlement plan, a report on the role of supporting the poor, and analysis about the social and economic impact of the project. In addition, the project entity that is liable for repayment shall submit a repayment commitment letter. When the designing department makes the feasibility study documents on a basic construction project, it shall, according to the specific requirements of the FIUTIC on the content of the loan application documents, create feasibility study documents on the foreign loan utilization project. When the Ministry of Railway examines the feasibility study documents on a basic construction project, it shall examine the feasibility study documents on foreign loan utilization project concurrently. When it is necessary to submit the loan application documents ahead of the scheduled time, the designing entity shall provide the first drafts, which shall be submitted upon examination and determination of the FIUTIC. When the foreign loan utilization project enters into the evaluation stage, modifications, if any, shall be based on the feasibility study documents on foreign loan utilization project. The foreign loan purchase list shall be made on the basis of the first design upon the examination and approval of this Ministry, which shall be limited to the scale and standard approved by this Ministry. The cost estimation shall be as reasonable and exact as possible. The resettlement plan, the report on the role of supporting the poor, and the analysis about the social and economic impact of the project shall be directly organized and created by the FIUTIC. Article 12. The feasibility study report of the project a small project and the feasibility study report on the foreign loan utilization thereof may be drafted all in a single file. After the project entity has finished the report on the feasibility study of the project and the work of appraisal, it shall submit a feasibility study report to the Ministry of Railway. The feasibility study report shall be handled by referring to the relevant provisions of the Measures for the Administration of Plans on the Renovation of Railway Transport Equipment. The budgetary estimation shall be made in accordance with the Document No. 54 (1999) of the DPC of the Ministry of Railway and Document No. 117 (2000) of the Construction Management Department of the Ministry of Railway. The feasibility study report submitted to the Ministry of Railway shall be accompanied by the following: (1) Detailed purchase list of the foreign loan utilization project; (2) Letter of Foreign loan repayment commitment of the project entity; (3) The technical standard and policies of the project shall be subject to the acknowledgement and approval of the relevant departments in advance. As for a project involving new technologies or safety of driving, the administrative department for technologies and the administrative department for operations shall issue a document of approval; and (4) Other documents required by the administrative department of the state. The feasibility study report shall be drafted by the planning department of the project entity, upon the signature of the first manager of this entity (or the deputy chief who is responsible for the planning work) on a formal document, which shall be reported and submitted to the DPC, the Financial Affairs Department and the FIUTIC, and shall be copied to relevant operating departments and bureaus. As for the department systematic projects that the project entities shall undertake the responsibilities of repayment of loans, the feasibility study stage (or preparatory feasibility study stage) of the projects shall be uniformly organized and undertaken by the administrative department of the Ministry of Railway, to which each project entity shall submit an application, it shall invite all project entities to attend the argumentation of the feasibility study reports (or preparatory feasibility study reports). If the application of a project entity is adopted at the argumentation, the administrative department shall formulate and send a feasibility study report to the DPC, the Financial Affairs Department and the FIUTIC. In principle, a small foreign loan project shall be on a paid basis, i.e. the project entity shall pay the total amount of the loan and its interests, offer domestic supporting fund and bear the liabilities for the investment resolutions. Such projects, unless otherwise specified, shall be handled according to this principle, but the formalities may be streamlined appropriately. The application materials of a small project shall, on the basis of the above-mentioned feasibility study report, be organized, made and submitted by the FIUTIC. Article 13. The functions concerning the examination and approval of the establishment of construction projects shall be exercised in accordance with the existing measures for the examination and approval of fixed asset investment projects. As for the functions concerning the examination and approval of foreign loans, if the foreign investment under a single project is less than US $ 5 million, it shall be subject to the examination of the Ministry of Railway, be reported to the State Planning Commission and the Ministry of Finance for archival purposes, and be listed into the pipeline projects of corresponding source after overall considerations; if the foreign investment under a single project is US$ 5 million or more, the feasibility study report on foreign loans shall be reported to the State Planning Commission for examination, approval and establishment upon examination of the Ministry of Railway. As for the "relevant project" in the name of a medium- or large-sized construction project, the part of foreign investment shall, together with the construction project, be subject to report to the competent authorities for examination and approval, and shall be managed as a small project. Article 14. After the application documents have been submitted, foreign loan-granting institutions will, according to the progress of the project, dispatch delegates to China to conduct on-the-spot inspection, preparatory evaluation and formal evaluation. The foreign-related work shall be carried out under uniform assignment and guidance. The FIUTIC shall be responsible for taking the lead in the foreign-related work, and all other relevant entities shall actively cooperate with it. After the evaluation of a foreign loan project has been finished, the FIUTIC shall issue documents about the scale of project loan, the repayment and assigning follow-up work to relevant entities, and shall organize, coordinate and examine their work in time. CHAPTER III THE DRAFTING OF DESIGN DOCUMENTS AND EXAMINATION Article 15. As for the medium- and large-scale construction projects, the Ministry of Railway shall, at the same time of examining domestic fund designs and gives reply to budgetary estimations at each stage, examine foreign loan designs and gives reply to budgetary estimation of the corresponding stage. Under special circumstances, if the progress of foreign investment needs to go ahead of the scheduled time, the design entity shall report and submit the advance designs of the part of foreign investment to the Ministry of Railway for examination, and in the subsequent stage of domestic fund design examination, the foreign loan design examination and the reply to budgetary estimation shall be formally handled in accordance with the procedure for examination and approval. Article 16. As for a small project, the design documents of domestic fund and foreign investment shall be formulated concurrently. The part of investment to be made by the Ministry shall be subject to the examination and approval of the Ministry according to relevant functions and procedures, which shall be listed into the Ministry's investment budget estimation of domestic and foreign funds. For a project not invested by the Ministry, the project design documents shall be subject to the examination and approval of the project entity. Article 17. No modification may be made to any foreign fund purchase list without permission after it has been approved by the administrative department of the state and has been confirmed by the foreign loan-granting institution. If it is actually necessary to do so, the design entity shall modify the design document, and then, according to the original procedures for examination and approval, the modified document shall be subject to the approval of the competent authorities. CHAPTER IV LENDING AGREEMENT NEGOTIATION, INDIRECT LENDING AND VALIDITY OF AGREEMENT Article 18. After the project evaluation report has been approved by the foreign loan-granting institution, the administrative department of the state shall arrange for loan agreement negotiations. The FIUTIC shall organize the relevant entities to participate in the loan agreement negotiations, subscribe to relevant documents, and shall notify all the project entities of the summary of the agreement by issuing a document to them. Article 19. The matters concerning the indirect lending of foreign loans shall be handled by the FIUTIC jointly with the Financial Affairs Department. For a project for compensated use, the department bearing repayment responsibility and the FIUTIC shall enter into an agreement of repayment responsibilities. Article 20. According to the information circulated by the administrative department of the State, the FIUTIC shall, from the standpoint of utilizing foreign loans effectively and matching the progress of the construction, raise a proposition about the effective date of the agreement upon discussion with the project entity, and shall track the execution of the foreign loan agreement. CHAPTER V ANNUAL PLAN Article 21. The submission, making, assignment, and adjustment of the annual plan on the railway projects utilizing foreign loans shall fall within the administrative scope of the annual investment plan of the Ministry of Railway. The project entities shall, according to the overall requirements in the plan of the Ministry of Railway, the specific arrangement and the actual progress of the project, make a proposal for annual plan on the projects utilizing foreign loans, which shall be submitted to the DPC of the Ministry and the FIUTIC. After the FIUTIC has verified, collected and balanced relevant information comprehensively, it shall put forward a proposal of annual plan to the DPC. Article 22. An annual plan on the railway projects utilizing foreign loans shall consist of three parts, i.e. purchase plan, payment plan and investment plan. The purchase plan refers to the predicted amount of the valid purchase contracts that may be signed within a year. The payment plan refers to the predicted amount of the contractual payments within a year. The investment plan refers to the predicted investments that may be completed by utilizing foreign loans. Article 23. The investment plan shall be listed in the annual plan of the Ministry by the DPC and be distributed in a uniform way. The investment plan on medium- and large-scale construction projects shall be listed in the annual plan under the corresponding item. The investment plan on small projects shall, in principle, be listed in the annual plan on small construction projects, and "projects utilizing foreign loans" shall be added in the plans of different entities on small basic construction projects. The total amount of this type of foreign investments of the current year shall be collected and assigned. Relevant auxiliary domestic fund shall be listed into the annual plan of the project entity on fixed asset investment plan according to the corresponding source of domestic fund. Article 24. The FIUTIC shall, according to the investment plan issued by the Ministry, make annual plans on the implementation of foreign loan projects according to different projects and entities, distribute the plans to all project entities, track, supervise, examine, and strengthen the management of foreign loan projects. Foreign loan purchase plans and payments plans may be distributed to relevant entities by the FIUTIC in the implementation plans where necessary, or may be done separately. Article 25. The additional expenses of foreign loans relating to foreign work shall be listed in the budgetary estimation of the project and be examined simultaneously with the former. The project entity shall ensure the timely payment of the additional expenses of foreign loans. The FIUTIC shall strengthen the relevant inspection and supervision. CHAPTER VI PROJECT PROGRESS REPORT, COMPLETION REPORT AND POST-EVALUATION REPORT Article 26. A project entity shall, in compliance with the requirements of the FIUTIC and the foreign loan-granting institution, submit reports on the progress of the project, including quarterly reports, semi-annual reports and annual reports, which mainly cover the information of construction works, purchase, land requisition and dismantlement, resettlement, environmental protection and the progress of payments, etc. The above-mentioned reports shall be submitted after being examined by the FIUTIC. Article 27. The completion report of a foreign loan project refers to the report on the overall execution of the project that shall, according to the loan agreement and the relevant documents, be submitted by the Chinese party after the project has been completed. As for the project completion report, the FIUTIC shall, according to the content and time limit required by the foreign loan-granting institution, assign tasks to the project entity, which shall be responsible for making the report. Upon examination of the FIUTIC, the completion report shall be submitted to the administrative department of the state and submitted to the foreign loan-granting institution thereafter. Article 28. After a project has been put into operation, the foreign loan-granting institution may carry out post-evaluation on the project, make post-evaluation report and conduct posterior investigations. The FIUTIC shall be responsible for organizing the project construction, design and operating entities to cooperate with the foreign party to complete the above-mentioned work. CHAPTER VII SUPPLEMENTARY PROVISIONS Article 29. The power to interpret the present Measures shall remain with the Development Planning Department of the Ministry of Railway. Article 30. The present Measures shall be implemented as of the day of promulgation. |
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