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	CIRCULAR OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON THE ISSUE OF ADJUSTING THE SUPERVISION SYSTEM OF VERIFICATION OF FOREIGN EXCHANGE PAYMENTS IN IMPORT TRADE

	(August 26, 2005 No. 97 [2005] of the State Administration of Foreign Exchange)


SUBJECT : ADMINISTRATION; SUPERVISION SYSTEM; VERIFICATION OF FOREIGN EXCHANGE PAYMENTS; IMPORT TRADE
ISSUING DEPARTMENT : THE STATE ADMINISTRATION OF FOREIGN EXCHANGE
ISSUE DATE : 08/26/2005
IMPLEMENT DATE : 08/26/2005
LENGTH : 694 words
TEXT :

In order to practically do a good job in the work relating to the supervision over the verification of foreign exchange payments in import trade and ensure the normal functioning of the Supervision System of Verification of Foreign Exchange Payments in Import Trade (hereinafter referred to as the Import System) under new technical environment after the upgrading of the Monitoring System of International Revenue and Expenditure Statistics, the circular on the relevant issues is hereby given as follows:

I. In order to ensure the timely and integral receipt of data on foreign exchange payments in import trade by the Import System, those branches and sub-branches of the SAFE (hereinafter referred to as the foreign exchange bureaus), which have separated the Import System's server at the provincial level with that at the municipal level, shall incorporate their Import Systems, and the specific requirements for incorporation are given as follows:

(1) Any foreign exchange bureau that has two sets of servers at the provincial and municipal levels shall, prior to August 31, fax the conditions on the layout and operation of businesses on the servers to the Current Account Administrative Department and the Information Center of the SAFE;

(2) The technical scheme on system incorporation shall be uniformly prescribed by the Information Center of the SAFE, and will be completed within August as anticipated, and all the branches shall pay attention to the notices on the website of the Information Center of the SAFE (http://100.1.1.3);

(3) The operations are required to be incorporated into the server at the provincial level. Any foreign exchange bureau that has incorporated its Import System into the server at the municipal level shall, prior to August 31, report it to the Current Account Administrative Department of the SAFE, which shall uniformly conduct the adjustment;

(4) This system incorporation is only targeted to the archival information regarding import entities, and the data on foreign exchange payment and verification prior to the incorporation shall be respectively preserved in the original systems. Where the verification operations of foreign exchange payments in import trade after the incorporation shall be carried out in the systems at the provincial and municipal levels, those operational verification functionaries shall properly adjust the relevant data so as to ensure the data accuracy in the statements. For example, when reporting the foreign exchange payments for the import of arrived goods subject to the system of one delivery and partial foreign exchange payments for examination, the total price under the declaration forms for the import of goods shall be split so as to avoid the nominal increase of data on delivered goods.

II. Pursuant to the data transmission requirements after the upgrading of the Monitoring System of International Revenue and Expenditure Statistics, the SAFE needs to straighten out the codes of foreign exchange bureaus that do not handle the businesses regarding the verification of foreign exchange payments in import trade, and all the foreign exchange bureaus at the provincial level shall accurately fill out the Questionnaire of the Conditions on the Verification of Foreign Exchange Payments in Import Trade by the Organs Directly under the Provincial Foreign Exchange Bureaus (refer to the attachment),and shall, prior to August 31, fax it to the Current Account Administrative Department of the SAFE.

III. Upon upgrading of the Monitoring System of International Revenue and Expenditure Statistics, the corresponding upgrading reconstruction shall be conducted on the Import System, and the relevant issues thereof shall be separately specified by the SAFE by official documents.

IV. The operational verification functionaries in import trade shall practically strengthen their study of professional knowledge and shall, as soon as possible, become familiar with the relevant regulations on the upgrading of the Monitoring System of International Revenue and Expenditure Statistics and the incorporation of documents and certificates as well as the upgrading requirements on Import Systems so as to ensure the orderly operation of verification operations.

Contact persons:
Current Account Administrative Department, Ye Xin
Phone number: 010-68402416
Fax: 68402294
Information Center, Zhu Yong
Phone number: 68402026
Fax: 68402024.

Attachment:
Questionnaire of the Conditions on the Verification of Foreign Exchange Payments in Import Trade by the Organs Directly under the Provincial Foreign Exchange Bureaus (omitted)