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In order to direct and regulate border trade, to improve the foreign exchange administration and to further promote the development of foreign trade and economic relations of China, the relevant issues concerning foreign exchange administration of small-scaled border trade with Russia and other members of the commonwealth of independent states are hereby notified as follows: I. The small-scaled border trade in this Notice shall refer to the trading activities conducted by the border area enterprises that are authorized to do small-scaled border trade (hereinafter referred to the enterprises of small-scaled border trade) with the enterprises, individuals or other trade agencies of Russia and other bordering member States of the Commonwealth of Independent States through the land border ports designated by the state. II. The mechanism of bank settlement shall be established and improved in the border areas, and the settlement of small-scaled border trade shall be made through such mechanism of bank settlement. The commercial banks in border areas shall actively establish agency relationship with the commercial banks in the border areas in the bordering States, and thus build channels for bank settlement; with respect to countries that have signed bilateral agreements on payment in home currency with China, bilateral or unilateral settlement accounts in home currency shall be opened as soon as possible with the commercial banks in border areas in the bordering States in order to provide service of bank settlement in home currency. III. The control by verification of export collection imposed on RMB banknote or foreign currency banknote under the accounts of small-scaled border trade shall be lifted. With exports in small-scaled border trade of whatever value, the small-scaled border trade enterprises shall, pursuant to the administration provisions on the verification of export collection in foreign exchange, apply for the verification certificates of export collection in foreign exchange, and go through the procedures for export declaration and handing in of certificates, the verification of export collection in foreign exchange shall be processed pursuant to the following provisions: (1) In case of settlement in foreign exchange cash through bank transfter, the enterprises of small-scaled border trade shall go through the procedures for verification of export collection in foreign exchange pursuant to the Measures for the Administration of Verification of Export Collection in Foreign Exchange and the Detailed Rules for the Implementation thereof, as well as other provisions on the administration of verification of export collection in foreign exchange; (2) In case of settlement in foreign currency banknotes, the small-scaled border trade enterprises shall go through the procedures for verification of export collection in foreign exchange on the basis of the customs declaration forms of the export goods, the verification certificates of export collection in foreign exchange, the memos of exchange settlement in foreign currency issued by the banks, as well as the purchase invoices; (3) In case of settlement in Renminbi, the enterprises of small-scaled border trade shall go through the procedures for verification of export collection in foreign exchange on the basis of the customs declaration forms of the export goods, the verification certificates of export collection in foreign exchange, as well as the declaration forms of entry with RMB banknote or the certifications of inward remittance of RMB examined and verified by the customs; (4) In case of settlement in the currency of a bordering state that has signed with China the bilateral agreement on payment in home currency, the small-scaled border trade enterprises shall go through the procedures for verification of export collection in foreign exchange on the basis of the customs declaration forms of export goods, the verification certificates of export collection in foreign exchange, as well as the declaration forms of entry with banknote of the currency of a bordering state or the certifications of inward remittance examined and verified by the customs. IV. Where an enterprise of small-scaled border trade collect the payment for goods by inward remittance of resident individual, the enterprise shall put on record, in advance, with the foreign exchange bureau of the place where it is located the name and account number of the resident individual who is to collect the export payment, the bank shall mark that account on the basis of the certification issued by the foreign exchange bureau. After the export, the enterprise shall go through the procedures for verification of export collection in foreign exchange on the basis of the customs declaration form of export goods, the verification certificate of export collection in foreign exchange, and the memo of exchange settlement of the inward resident remittance under the account put on record. V. With respect to exports in small-scaled border trade, the foreign exchange bureaus of the border areas shall, in accordance with the Measures for the Administration of Verification of Export Collection in Foreign Exchange and the Detailed Rules for the Implementation thereof as well as the present Notice, process the formalities for distribution of the verification certificates and the verification of export collection in foreign exchange for the enterprises of small-scaled border trade, and shall examine the export collection in foreign exchange of the enterprises according to the provisions. VI. The branches shall inspect and supervise the commercial banks under their respective jurisdictions to earnestly implement the Notice of the People's Republic of China on the Administration of Foreign Currency Banknote (Yinfa No.376 [2001]) as well as the supplementary notice thereof and the Detailed Rules for the Implementation of the Administration of Purchase of Foreign Exchange by Domestic Resident Individuals, shall require that the commercial banks' branches in border areas that provides the service of savings in foreign currencies launch the service of exchange settlement for individuals, and the branches with the service of exchange settlement or sale or the service of exchange of foreign currencies launch the service of exchange sale for individuals and add more agents of exchange settlement and sale. The branches shall earnestly carry out the Notice of the People' s Bank of China on Adjusting the Policies on the Administration of Foreign Currency Banknotes (Yingfa No.283 [2002]), further adjust the purchase and sale prices of foreign currency banknotes and fluctuate the prices within a certain range, and encourage the foreign currency banknotes to be settled by the banks. The foreign exchange bureaus of the border areas shall actively assist the commercial banks in the border areas to carry out, considering their locations, the service of exchange settlement for individuals and do well in the risk management and fund balancing. VII. The foreign exchange bureaus of the border areas shall strengthen the statistics and analysis of the small-scaled border trade, gather the information about small-scaled border trade within their respective jurisdictions in a timely manner, and submit, within the first 10 workdays of each month, the Statistics of Imports and Exports in Small-scaled Border Trade and the Verification of Collection (see the attachment) of the previous month to the Department of Current Account Management under the SAFE. VIII. The foreign exchange bureaus of the border areas shall further strengthen the administration of foreign currency banknote within their respective jurisdictions, gain support from the local governments and cooperate with the local organs of public security to strictly crack down illegal foreign exchange trade and to regulate the order of foreign exchange market. IX. Those violating this Notice shall be punished by the foreign exchange bureaus in accordance with the Regulations of the People's Republic of China as well as other provisions on the administration of foreign exchange. X. The foreign exchange bureaus of the border areas shall, in a timely manner, report to the local governments the relevant information about border trade and the policies on foreign exchange administration, and actively assist the local governments in implementation of the policies on encouraging exports in border trade. At the meanwhile, the foreign exchange bureaus shall strengthen the communication and cooperation with the relevant departments of foreign trade and economic cooperation, finance and taxation to jointly regulate the border trade. The localities shall propaganda the policies on foreign exchange administration to the enterprises of small-scaled border trade and the relevant personnel engaging in border trade through various forms such as using the media, like newspaper, television, broadcasting, and holding forums and training classes. XI. This Notice shall be put into trial implementation in Heilongjiang Province, Inner Mongolia Autonomous Region and Xinjing Uygur Autonomous Region. The aforesaid branches shall work out the corresponding detailed rules for implementation according to the present Notice and implement such detailed rules upon approval by the Department of Current Account Management of the SAFE. XII. The present Notice shall be put into practice on October 1, 2002. If any previous provision conflicts with the present Notice, the latter shall prevail. The foreign exchange bureaus of Heilongjiang Province, Inner Mongolia Autonomous Region and Xinjing Uygur Autonomous Region shall, after receiving the present Notice, transmit it to the branches and commercial banks in border areas under their respective jurisdiction as soon as possible. Attachment: Table of Statistics of Imports and Exports and of the Verification of Collection in Small-scaled Border Trade (omitted) |
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