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In order to further implement the development strategy of "Going global" and promote the business and trade with the neighboring countries, we hereby notify the relevant issues concerning the administration of foreign exchange for overseas investments of border areas as follows: 1. The term "border areas" mentioned in the present Circular refers to such areas as cities at the prefecture level and ethnic autonomous prefectures that are within the interior border line of our country and adjoin the neighboring countries. The term "overseas investments of border areas" refers to that the enterprises, corporations or any other economic organizations (including individual industrial and commercial households) that have been registered in our border areas (hereinafter referred to as the investors in border areas) establish all kinds of enterprises in the neighboring countries or purchase stocks or hold shares therein, and engage in the activities of production and business operations. 2. The relevant branches of the State Administration of Foreign Exchange may, within the power limit thereof, enlarge the power limit of the sub-branches of foreign exchange centers in the border areas under jurisdiction regarding the examination of the source of foreign exchange capital for overseas investments and shall report the aforesaid authorization to the State Administration of Foreign Exchange for archival filing. For those projects, for which the investors in border areas make overseas investments by using self-owned foreign exchange, internal foreign exchange loans or foreign exchange purchase, the sub-branches of foreign exchange centers in the border areas may, within the limit of aforesaid authorization, provide an immediate opinion regarding the source of the foreign exchange capital. 3. The investment subjects in border areas shall go through the formalities for the registration of overseas investments according to the relevant administrative provisions on overseas investments. Where an investor makes any overseas investments in Renminbi, he may go to the local foreign exchange bureau to go through the formalities for the registration of overseas investments on the strength of those materials as listed in Article 4 of the present Circular. 4. For any overseas investment of border areas that has been made before the effective date of the present Circular (including those that fail to pass the examination of the source of foreign exchange capital for overseas investments or fail to go through the formalities for the registration of foreign exchange for overseas investments and those that have passed the examination of the source of foreign exchange capital for overseas investments but haven't gone through the formalities for the registration of foreign exchange for overseas investments), the investor thereof may go to the local foreign exchange bureau to handle the formalities for the supplementary registration of foreign exchange for overseas investments on the strength of the following materials: (1) An Application of the investor in border areas for handling the supplementary registration (including the establishment time, address, operational state and enterprise type, etc. of the overseas invested enterprise); (2) The certification materials of the overseas invested enterprise regarding the registration in the administrative department of investment (or industry and commerce) in the country where the said enterprise is located; (3) The balance sheet of the overseas enterprise in the previous year that has passed examination and approval (where the investment subject is an individual industrial and commercial household, no balance sheet is required); (4) The contract or constitution of the overseas joint-venture or contractual enterprise as required to be provided separately; (5) Any other materials as required by the State Administration of Foreign Exchange. 5. Where an investor in border areas makes any overseas investment in kind, after the investment in kind is transferred across the border, he may go to the foreign exchange bureau to go through the formalities for the verification and writing-off of the margin of no export proceeds of foreign exchange on the strength of the verification and writing-off form of export proceeds of foreign exchange, the declaration form of exported goods and the Registration Certificate of Foreign Exchange for Overseas Investments and the photocopy thereof. Where the foreign exchange bureau handles the formalities for the verification and writing-off for an enterprise, it shall indicate the actual settlement amount, currency and date on the Registration Certificate of Foreign Exchange for Overseas Investments. 6. The foreign exchange bureaus in border areas shall strengthen the publicity of the relevant provisions and policies on the administration of overseas investments and actively encourage enterprises to make overseas investments according to the relevant provisions. 7. The present Circular shall come into force as of April 1, 2005. |
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