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	REPLY OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE CONCERNING THE EXCHANGE OF MONEY FOR TRAVELING ABROAD

	(No. 52 [2001] of the State Administration of Foreign Exchange promulgated on March 6, 2001)


SUBJECT : INDIVIDUALS; TRAVELING ABROAD
ISSUING DEPARTMENT : STATE ADMINISTRATION OF FOREIGN EXCHANGE
ISSUE DATE : 03/06/2001
IMPLEMENT DATE : 03/06/2001
LENGTH : 667 words
TEXT :

Regarding Request for Instructions on the Relevant Issues Concerning the Exchange of Money by Travel Agencies for Traveling Abroad (No.17 (2001) of the Bank of China), we hereby replied as follows:

I. Where domestic residents need to exchange money for going abroad for private purpose of meeting and visiting relatives, apart from submitting the effective certifications and documents provided for in Article 17 of the Interim Measures for Administration of Foreign Exchange of Domestic Resident Individuals, they shall also provide the letters of invitation of their overseas relatives.

II. Where domestic resident individual go abroad for permanent residence, their retirement pensions for veteran cadres, retirement pensions, separation payment, resignment allowances and survivor's pensions may all be exchanged for foreign currencies, if the separation payment is less than the equivalent of US$2,000, they may exchange for foreign currencies equal to US$2,000; those without salary income may exchange for foreign currencies equal to US$2,000 one-time-off; minors less than 14 years old may exchange for foreign currencies equal to US$1,000 each.

III. When the domestic residents go through the procedures for exchanging money for going abroad for permanent residence before exit, they shall, when exchanging for foreign currencies within the prescribed amount, provide the following documents to the bank:

(1) Certification issued by the unit he/she works for (or by the sub-district office of the place of registered residence or the people's government at the level of village or above if there is no such a unit);

(2) Passport and exit certification for which the valid entry visa to the country or region he/she is going has been obtained, or the pass for going to Hong Kong and Macao or the pass for going to/from Hong Kong and Macao;

(3) Resident permit of the country or region he/she is going to; and

(4) When exchanging the retirement pensions for veteran cadres, retirement pensions, separation payment, resignment allowances and survivor's pensions for foreign currencies, the certifications issued by the organs that granted the said payments shall also be provided.

When the domestic resident individuals exchange for foreign currencies beyond the prescribed amount, they shall, taking the aforesaid certifications, file an application with the administrations of foreign exchange of the places of their location, and after the administrations examine the authentication, they may exchange for foreign currencies at the banks on the basis of the ratifications issued by the administrations of foreign exchange.

IV. After a domestic resident individual permanently resides in a foreign country, he/she may consolidate the retirement pension for veteran cadres, retirement pension, separation payment, resignment allowance and survivor's pension and exchange them for foreign currencies every half a year, and shall, when exchanging for foreign currencies, provide to the bank the overseas resident permit and valid existence certification, and the certification documents issued by the organs that granted the aforesaid payments.

V. After a domestic resident individual migrates to a foreign country, as for the legal Renmingbi rent income he/she obtains from lease of his/her domestic houses, he/she may apply for purchase of foreign exchange on the basis of the certificate of title to the house, the certificate of permit for the house lease, the lease contract and the certificate of payment of taxes.

VI. Where a travel agency organizes domestic resident individuals for overseas tours at their own expenses, since the overseas travel institutions shall be responsible for the expenses of the guides of the tour group, foreign exchange may be provided only for the personal expenses to the guides according to the standard for personal expense of each overseas travel tour, and no foreign exchange may be provided for the group expenses.

VII. Where a domestic-funded international travel agency needs to refund the group expenses to the overseas travel institutions, it shall, taking the application report (indicating the reasons for withdrawal from the group and the scheduled receipt groups), the notification or documents of overseas institutions requesting for refund of the group expenses, and apply to the bank for going through the corresponding procedures.