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	CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE AND THE STATE BUREAU OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE ON THE PREVALENT USE OF ORGANIZATIONAL CODE MARKS IN THE FOREIGN EXCHANGE BUSINESS

	(No. 24 [2002] of the State Administration of Foreign Exchange and the State Bureau of Quality Supervision, Inspection and Quarantine promulgated on February 28, 2002)


SUBJECT : ORGANIZATIONAL CODE MARKS
ISSUING DEPARTMENT : STATE ADMINISTRATION OF FOREIGN EXCHANGE, STATE ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 02/28/2002
IMPLEMENT DATE : 02/28/2002
LENGTH : 470 words
TEXT :

In order to improve foreign exchange supervision and the quality of the data from statistics and monitoring of international payments, guarantee the comprehensiveness and accuracy of the basic information on the entities of public affairs, as well as the unity of the marks of such entities, we hereby decide to all-roundly regulate and uniformly use the organizational code marks in transactions involving foreign interests, and give our notice concerning the relevant matters as follows:

I. The foreign exchange control departments at all levels and the relevant financial institutions shall, with regard to any entity that firstly applies to handle the relevant foreign exchange business (including opening foreign exchange accounts, handling purchase of exchanges and remittance both home and abroad, etc.), check its "Organizational Code Certificate of the People's Republic of China" (hereinafter referred to "Code Certificate"), verify its validity, and set up an institutional archive. Such an institution archive shall contain the elements of the "organizational code".

II. Besides the organizational codes which need to be recorded in the system of international payments statistics and monitoring and the system of import verification, the foreign exchange control departments at all levels shall, when the collection of the relevant entity's information is involved, set up in the future self-developed business management information system the item of "organizational code", which must be filled in the system.

III. The foreign exchange control department at each level or any financial institution shall, if finding in the process of examination that an entity applying for going through the relevant foreign exchange business has no code certificate or has an invalidated code certificate, timely notify it to go to the institution for codes under the local quality and technology supervision department to apply for the obtaining or re-examination of the code certificate, instead of offering a code by itself.

IV. For the institutions whose codes are not to be offered by the quality and technology supervision departments, their codes shall be uniformly offered by the State Administration of Foreign Exchange after it has obtained temporary codes from the national organizational code management center.

V. The institution for codes under the quality and technology supervision department at each level shall actively cooperate in doing well in offering the code certificates to the entities that have not obtained codes, and shall check the relevant code information with the local foreign exchange control department, as well as cooperate in doing well in the collection of the relevant entities' basic information in the foreign business.

VI. The institution for codes under the quality and technology supervision department at each level and the foreign exchange control department must, during their work, carefully guarantee the quality of the codes, do well in the prevention of overlapped codes and check of erroneous ones, so as to ensure the singularity and accuracy of each code.