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Article 1. In order to implement the policies of encouraging deep-sea fishing enterprises to make rational use of high seas and other fishing resources, promote further development of China's deep-sea fishing, and normalize the foreign exchange administration of deep-sea fishing, this set of provisional procedures is formulated according to Fishing Law of the People's Republic of China and Regulations on the Foreign Exchange Administration of the People's Republic of China. Article 2. The State Administration of Foreign Exchange and its branches (hereinafter referred to SAFE) are responsible for making foreign exchange policies of deep-sea fishing enterprises and for day-to-day verification and supervision respectively the Ministry of Agriculture and fishing competent department (bureau) in each province, autonomous region, municipality directly under the jurisdiction of the central government, and listed cities (hereinafter referred to "fishing administration department") shall cooperate with SAFE in supervising deep-sea fishing enterprises to report their deep-sea fishing incomes and expenditures in foreign exchange. Article 3. This set of provisional procedures applies to deep-sea fishing enterprises with "Qualification Certificate of Deep-sea Fishing Enterprises" issued by the Ministry of Agriculture for their deep-sea fishing incomes and expenditures in foreign exchange. Article 4. Net incomes of deep-sea fishing enterprises earned by selling aquatic products overseas shall be repatriated home in time as required. Deep-sea fishing enterprises shall report accurately to SAFE on deep-sea fishing foreign exchange receivable and received in the previous year in the first quarter of each year. They shall also report and explain their foreign exchange incomes and expenditures to SAFE. Article 5. Deep-sea fishing enterprises' foreign exchange expenditures for deep-sea fishing productions and sales shall be firstly covered by their own foreign exchange. In case that their foreign exchange is insufficient to cover all the expenditures, the short portion shall be purchased after being approved by SAFE. According to the stipulation of the General Administration of Customs and the Ministry of Agriculture that self-aquatic-products shipped home are duty-free, only the foreign exchange gap of deep-sea fishing enterprises arising from shipping home part of their self-aquatic-products can be covered by purchasing foreign exchange. Foreign exchange purchased by deep-sea fishing enterprises shall not exceed the total value of the self-aquatic-products shipped home. Article 6. Deep-sea fishing enterprises shall open a special foreign exchange account of deep-sea fishing with the approval of SAFE. In case that the deep-sea fishing enterprises have had a foreign exchange settlement account, the special foreign exchange account shall not be opened. The special foreign exchange accounts of deep-sea fishing shall be debited with inward remitted foreign exchange earned from deep-sea fishing productions and sales. It shall be credited with expenditures for deep-sea fishing productions and sales and for other expenditures approved by SAFE. Article 7. The Ministry of Agriculture shall send to SAFE headquarter for record a list of deep-sea fishing enterprises "with Qualification Certificate of Deep-sea Fishing Enterprise" and a duplicate copy of the approval documents. SAFE headquarter shall notify its relevant branches of the list. Deep-sea fishing enterprises with "Qualification Certificate of Deep-sea Fishing Enterprise" shall record at the domiciled branch of SAFE with the information on the number, name, tonnage of their deep-sea fishing boats, as well as their production areas, main products, annual output (can not be converted into standard tons) and self-aquatic-products planned to be shipped home. Article 8. As required by the stipulation of the General Administration of Customs and the Ministry of Agriculture that self-aquatic-products shipped home are duty-free, deep-sea fishing enterprises shall seriously calculate their deep-sea fishing foreign exchange incomes and expenditures and foreign exchange gap in the previous year. They shall fill Deep-sea Fishing Enterprises' Declaration Form of Deep-sea Fishing Foreign Exchange Incomes and Expenditures in (year) (hereinafter referred to "declaration form") and report to the domiciled fishing administration department in the first quarter of each year based on the Reporting Form of Self-aquatic-products Shipped Home by Deep-sea Fishing Enterprises and overseas sales of their products. The declaration form shall be stamped with the official seal of the enterprise. The legal person or his/her trustier shall sign in the column of "solemn declaration" and shoulder relevant legal responsibilities. The declaration form has triplicate copies. The first is for the enterprise, the second is for SAFE, and the third is for fishing administration department. It is centrally designed by SAFE headquarter and printed by SAFE branches themselves. Article 9. Based on the declaration of deep-sea fishing enterprises, the fishing administration departments shall verify the deep-sea fishing foreign exchange incomes and expenditures and foreign exchange gap of the deep-sea fishing enterprises. They shall stamp the SAFE-copy of declaration form with official seal. Article 10. The domiciled branch of SAFE shall appraise and decide the ceilings of foreign exchange purchase in current year for each deep-sea fishing enterprise on the base of their declaration and the declaration form verified by the fishing administration department indicating the deep-sea fishing foreign exchange incomes and expenditures and foreign exchange gap in the previous year of the deep-sea fishing enterprises, and taking into account their actual foreign exchange expenditures in the previous year and the balance of their foreign exchange accounts. SAFE shall appraise and decide the ceilings of foreign exchange purchase in current year for deep-sea fishing enterprises that newly acquire "Qualification Certificate of Deep-sea Fishing Enterprise" according to the highest level for the old ones of the same scale. Article 11. After deciding the ceilings of annual foreign exchange purchase for deep-sea fishing enterprises, SAFE shall make a note to indicate the ceiling in relevant columns of Registration Form of Foreign Exchange Purchase and Payment for Deep-sea Fishing by Deep-sea Fishing Enterprise in (year) (hereinafter referred to "Registration Form") and stamp it with the seal of SAFE. The Registration Form has triplicate copies. The first is for the enterprise, the second is for SAFE, and the third is for fishing administration department. It is centrally designed by SAFE headquarter and printed by SAFE branches themselves. Article 12. Within the ceilings of annual foreign exchange purchase decided by SAFE, deep-sea fishing enterprises shall purchase foreign exchange only for immediate external payment to meet their actual operation needs Advance purchase is prohibited. Accumulative total of purchased foreign exchange shall not exceed the ceilings. In case that more foreign exchange purchase than the ceilings are needed to meet their development needs, deep-sea fishing enterprises shall apply with the domiciled branch of SAFE after being verified preliminarily by the domiciled fishing administration department. Article 13. Deep-sea fishing foreign exchange incomes and expenditures of central deep-sea fishing enterprises and their subsidiaries shall be collected by the headquarters and reported to the fishing bureau of the Ministry of Agriculture for verification. The ceilings of annual foreign exchange purchase for central deep-sea fishing enterprises and their subsidiaries located in Beijing shall be decided by the SAFE headquarter. The ceilings for their subsidiaries located other than in Beijing shall be decided by the domiciled branches of SAFE. Article 14. Deep-sea fishing enterprises shall choose by themselves a designated foreign exchange bank to conduct relevant foreign exchange purchases and payments. They shall record the bank's name with SAFE. Article 15. Deep-sea fishing enterprise, when conducting foreign exchange purchase and payment for deep-sea fishing at designated foreign exchange bank chosen by themselves and recorded with SAFE, shall present an application for foreign exchange purchase and payment (indicating the amount and purposes), the original copy for the enterprise of the registration form, statement list of the foreign exchange account and other valid certificates and commercial vouchers. If the balance of their foreign exchange account can cover the payment, the designated foreign exchange bank shall not sell foreign exchange to the deep-sea fishing enterprises. If not, only the short portion can be purchased. After conducting foreign exchange purchase and payment for deep-sea fishing enterprises, the designated foreign exchange bank shall make a note in and affix its seal to the original enterprise-copy of the registration form indicating the time, nature, amount, purposes of foreign exchange purchase and payment, as well as the balance of ceilings. Article 16. SAFE shall carry out annual inspection on deep-sea fishing foreign exchange incomes and expenditures of deep-sea fishing enterprises. Each deep-sea fishing enterprise shall ask a domiciled accounting firm with financial auditing qualification and familiar with foreign exchange businesses to audit its foreign exchange incomes and expenditures, especially the foreign exchanges incomes from overseas sales of its products and the utilization of purchased foreign exchange in the previous year from January to April each year. The auditing report and the original enterprise-copy of the registration form shall be submitted to the domiciled branch of SAFE. The accounting firm shall check and audit the foreign exchange incomes and expenditures in the previous year of deep-sea fishing enterprises based on the following documents: (1) Annual financial reports audited by an accounting firm and relevant attachments, including balance sheets, loss and profit statement, and duplicate copies of relevant accounts; (2) Customs declaration forms for self-aquatic-products shipped home in the previous year, the original of the Declaration Form of Self-aquatic-products Shipped Home by Deep-sea Fishing Enterprise (the forth copy); (3) The original of the registration form (the enterprise-copy); (4) Approval documents for sending the fishing boat issued by the Ministry of Agriculture; (5) Other vouchers and certificates verifying foreign exchange expenditures (see attachment); and (6) Other documents required by SAFE. Article 17. Each domiciled branch of SAFE shall report to the SAFE headquarter before May 30 every year the annual inspection results and foreign exchange purchases and payments by local deep-sea fishing enterprises. A duplicate shall be sent to the domiciled fishing administration department simultaneously. The reported annual inspection results shall indicate annual foreign exchange incomes, expenditures, and deductions of local deep-sea fishing enterprises, purposes, detailed categories and amounts of purchased foreign exchange, and assessment on the observation of foreign exchange regulations by the enterprises. Article 18. SAFE shall circulate the Ministry of Agriculture the annual inspection results and foreign exchange expenditures by deep-sea fishing enterprises of the whole country after the inspection. The Ministry of Agriculture shall public the results to every deep-sea fishing enterprise and set up a cross-supervision mechanism among the enterprises. Article 19. SAFE shall inspect foreign exchange incomes and expenditures of deep-sea fishing enterprises periodically or occasionally. In the event of violation of this set of provisional procedures, it shall be punished by SAFE pursuant to Regulations on Foreign Exchange Administration of the People's Republic of China and other relevant foreign exchange regulations. The punishment results shall be reported to the SAFE headquarter. The SAFE headquarter shall circulate the Ministry of Agriculture the punishment results punishment results periodically. In the event of serious violation of this set of provisional procedures, it shall be punished by the Ministry of Agriculture pursuant to Procedures on the Qualification Administration of Deep-sea Fishing Enterprise. In the event of designated foreign exchange banks violating this set of provisional procedures, it shall be punished by SAFE pursuant to Regulations on Foreign Exchange Administration of the People's Republic of China and other relevant foreign exchange regulations. Article 20. Other foreign exchange incomes and expenditures not covered by this set of provisional procedures shall be subject to relevant foreign exchange regulations. Article 21. This set of provisional procedures shall take into effect as of May 1, 2001. The SAFE headquarter and the Ministry of Agriculture is responsible for the interpretation. Attachment: Overseas Commercial Fishing Foreign Exchange Production and Sale Document (omitted) |
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