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	CIRCULAR OF THE MINISTRY OF FINANCE ON ABANDONMENT OF THE RE-LOAN OF FOREIGN GOVERNMENTAL LOANS TO BANKS' QUALIFICATION EXAMINATION AND APPROVAL

	(No. 51 [2003] of the Ministry of Finance promulgated on April 17, 2003, which shall come into force as of May 1, 2003)


SUBJECT : FOREIGN GOVERNMENTAL LOANS; RE-LOAN
ISSUING DEPARTMENT : MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 04/17/2003
IMPLEMENT DATE : 05/01/2003
LENGTH : 347 words
TEXT :

In order to implement the spirit of the State Council concerning the reform of the administrative examination and approval, further standardize the procedures for the administration of the re-loan of foreign government loans, encourage policy banks of the state, solely state-owned banks, and other commercial banks and financial institutions to participate in the re-loan of foreign government loans, the Ministry of Finance has decided to make readjustment to Article 2 of the Circular on Distributing the Interim Provisions on the Administration of the Re-loan of Foreign Government Loans regarding the qualifications of the re-loaning banks, and to cancel the examination and approval of the qualifications of the re-loaning banks of foreign government loans. The relevant issues are hereby notified as follows:

I. The present Notice shall be applicable to all projects that make use of the loans of foreign governments (including the unconditioned loans provided by Japan Bank for International Cooperation, loans provided by Nordic Investment Bank and Nordic Development Bank, and other preferential loans for foreign countries acknowledged by the Ministry of Finance).

II. The re-loan of foreign government loans shall be undertaken by the policy banks of the state, the solely state-owned commercial banks, and other commercial banks and financial institutions (excluding foreign-funded banks for the time being).

III. Where there are otherwise provision of the loan provider state concerning the qualifications of the re-loaning banks, the bank or financial institutions that are engaged in the re-loan of foreign government loans shall file an application to the Ministry of Finance in advance, and the Ministry of Finance shall, after submitting to and obtaining the recognition of the loan provider state, inform the relevant banks and financial institutions within ten days.

IV. Except the above-mentioned readjustment, the re-loaning banks and financial institutions shall continue to follow the prescriptions of the Notice of the Ministry of Finance on Distributing the Interim Provisions on the Administration of the Re-loan of Foreign Government Loans (No. 230 [1999]) regarding the handling of the re-loan of foreign government loans.

V. The present Notice shall be implemented as of May 1, 2003.