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REPLY OF STATE ADMINISTRATION OF FOREIGN EXCHANGE TO GUARANTEE PROVISION FOR RMB LOANS BY FOREIGN-FUNDED BANKS IN CHINA |
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(No. 50 [2001] of the General Department of State Administration of Foreign Exchange June 8, 2001) |
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SUBJECT : INTERPRETATION; RMB LOANS BY FOREIGN-FUNDED BANKS IN CHINA |
ISSUING DEPARTMENT : STATE ADMINISTRATION OF FOREIGN EXCHANGE |
ISSUE DATE : 06/08/2001 |
IMPLEMENT DATE : 06/08/2001 |
LENGTH : 67 words |
TEXT : |
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According to relevant foreign exchange regulations, the RMB loans to domestic entities provided by domestic foreign-funded banks that are authorized to operate RMB business are not regarded as external debts of domestic entities, and do not need approval or external debt registration. Therefore, guarantees for this kind of RMB loans are not regarded as external guarantees, and thus do not need approval beforehand or external guarantee registration.
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