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	NOTICE OF THE MINISTRY OF FINANCE ON CLEAR CLASSIFICATION OF CENTRALLY-STATE-OWNED ENTERPRISES' APPLICATION FOR USE OF RELENDING OF FOREIGN GOVERNMENT LOANS

	(No.86 [2002] Cai-Jin-Han promulgated on August 17, 2002, which shall come into force as of September 1, 2002)


SUBJECT : RELENDING OF FOREIGN GOVERNMENT LOANS; CENTRALLY-STATE-OWNED ENTERPRISES
ISSUING DEPARTMENT : MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 08/17/2002
IMPLEMENT DATE : 09/01/2002
LENGTH : 293 words
TEXT :

For recent years, enterprises directly under the Central Government have applied for more and more relending of foreign government loans to accelerate the enterprise technical reform and to promote the equipment update and product upgrade. In accordance with the existing provisions of this Ministry on the control of relending of foreign government loans and the present financial situations of central enterprises, and with a view to facilitating central enterprises to utilize foreign government loans, guaranteeing the liabilities and preventing debt risks, the issues concerning the categories of relending of foreign government loans of "central borrowing and respective repaying" projects applied for by central enterprises are hereby notified as follows:

I. For all the projects in which a central enterprise group corporation is the borrower, the central enterprise group corporation shall file the application, and if the application, with approval by this Ministry after examination, meets the conditions for relending for the first category projects, this Ministry will notify the relending bank to relend the loan as for the first category project.

II. For all the projects in which an affiliated enterprise or subsidiary company of a central enterprise is the borrower, if the central enterprise group corporation provides guarantees for repayment, this Ministry will, after examination and approval, notify the relending bank to relend the loan as for the second category projects.

III. Projects other than the aforesaid situations shall be dealt with as for the third category projects. This Ministry will entrust the relending bank to evaluate the projects, and the relending bank will decide by itself whether or not to relend the loan pursuant to the relevant provisions of this Ministry on the control of relending of foreign government loans.

This Notice shall be put into implementation on September 1, 2002.