个人外汇管理办法实施细则 英文

个人外汇管理办法实施细则英文Detailed Rules for the Implementation of the Measures for the Administration of Individual Foreign ExchangeChapter 1 General ProvisionsArticle 1 These Detailed Rules are formulated in accordance with the Measures for the Administration of Individual Foreign Exchange for the purpose of standardizing and facilitating the foreign exchange operations of banks and individuals.Article 2 Management of an total annual quota shall be applicable to individual sales of foreign exchange and domestic individual purchases of foreign exchange. The total annual quota is equivalent to USD 50,000 per person each year. The SAFE is empowered to adjust the total annual quota in accordance with the balance of payment position.Foreign exchange sales and purchases within the total annual quota shall be dealt with at the banks upon the strength of valid personal identity certificates. When the amount of foreign exchange sales and purchases exceeds the total annual quota, those under the current account shall be dealt with in accordance with Articles 10, 11, and 12 of these Detailed Rules, and those under the capital account shall be dealt with in accordance with the relevant provisions of these Detailed Rules on the "Administration of Individual Foreign Exchange under the Capital Account."Article 3 Foreign exchange purchased by an individual may beremitted abroad, deposited in his/her foreign exchange savings account, or carried across the border in accordance with the relevant provisions.Article 4 When the amount of individual foreign exchange purchases and sales is within the total annual total, the individual may entrust his/her immediate family members to deal with the business; when the amount of individual foreign exchange purchases and sales or overseas individual purchases of foreign exchange exceeds the total annual quota, the individual may entrust others to deal with the business upon the strength of the related supporting documents in accordance with the provisions in these Detailed Rules.Article 5 In cases when an individual carries foreign cash acrossthe border, he/she shall obey the relevant administrative provisions of the State.Article 6 All designated foreign exchange banks (hereinafterreferred to as ?banks?) shall examine and verify the authenticity of individual foreign exchange transactions in accordance with the provisions of these Detailed Rules. Any forged or altered transactions are prohibited. The banks shall process the transactions of individual foreign exchange purchases and sales through the management information system for individual sales and purchases of foreignexchange (hereinafter referred to as the ?system for individualsales and purchasesof foreign exchange?), and shall input the relevant information truthfully, accurately, and completely. Article 7 The SAFE and its branches/sub-branches (hereinafter referred to as ?foreign exchange bureaus?) shall be responsible for collecting thestatistical data, supervising, managing, and inspecting theindividual foreign exchange businesses.Chapter 2 Administration of Individual Foreign Exchange under the Current Account Article 8 Individual foreign exchange receipts and payments under the current account are classified into business-based foreign exchange receipts and payments and non-business-based foreign exchange receipts and payments.Article 9 Individual business-based foreign exchange receipts and payments under the current account shall be handled in accordance with the following provisions:(1) An individual foreign trade business person shall handle the purchase, payment, collection, and sale of foreign exchange underforeign trade through his/her foreign exchange settlement account; and his/her foreign exchange receipts and payments, verifications for imports and exports, and declarations on the balance of payments shall be handled in line with the formalities applicable to institutions.An individual foreign trade business person refers to anindividual engaging inforeign trade business activities who has attended to theformalities of registering at the administrative department for industryand commerce or the other business formalities according to law, has obtained a business license or other certificates for business operations, has handled the recording formalities for registration, and obtained the foreign trade right in accordance with the provisions of the commerce administrative department of the State Council.(2) When a private business person entrusts any enterprise with foreign trade rights to handle the import business, he/she shall purchase foreign exchange by himself/herself upon the strength of the import agent contract or the agreement signed with the entrusted enterprise. The purchased foreign exchange shall be transferred directly from his/her foreign exchange settlement account to the foreign exchange account under the current account held by the entrusted enterprise.When a private business person entrusts any enterprise with foreign trade rights to handle the export business, he/she may deal with foreign exchange collections and sales through his/her own foreign exchange settlement account. Sales of foreign exchange shall be handled upon the strength of the export agent contract or the agreement signed with the entrusted enterprise and the customs export declaration forms of the entrusted enterprise. After filing at the local foreign exchange bureau the private business person?s name and account numbers as well as other documents prescribed for the verification, the entrusted enterprise may use the private business person?s notice of collection as the supporting document forverification.(3) An overseas individual shall handle the sale of foreign exchange under the trade items of tourism and shopping upon the strength ofhis/her valid identity certificate and the customs declaration form for individual tourism and shopping.Article 10 When a domestic individual’s non-business-based foreign exchange salesunder the current account exceed the total annual quota, he/sheshall handle the business at the banks upon the strength of his/hervalid identify certificate and thefollowing supporting documents:(1) For donations: a notarized agreement or donation contract. The donations shall comply with the relevant provisions of the State;(2) For alimony: evidence of the relationship of the immediatefamily member or a notarized document for alimony payment, and proof of revenue of the overseas payer, such as bank statements or individual tax returns;(3) For inheritance income: legal or notarized document of inheritance;(4) For insurance payments: insurance policy and proof of payment from the operating insurance institution. Purchases of insurancepolicies in foreign exchange shall meet the relevant provisions of the State;(5) For patent and royalty income: proof of payment, agreement, or contract;(6) For legal, accounting, consulting, and public relation services income: proof of payment, agreement, or contract;(7) For employment compensation: contract of employment and evidence of income;(8) For proceeds from overseas investment: foreign exchange registration certificate of overseas investment, resolution of profit distribution or dividend payments, or evidence of other income;(9) For other: relevant evidence and payment vouchers.Article 11 When an overseas individual’s non-business-based foreign exchangesales under the current account exceed the total annual quota,he/she shall handle the business at the banks upon the strength ofhis/her valid identity certificate and the following supporting documents:(1) For rent expenditures: lease registered at the housing authority, invoice or notice of payment;(2) For living expenses: relevant contract or invoices;(3) For medical expenses, tuition, and related expenses: receiptsfrom domestic hospitals (schools);(4) For other: relevant evidence and payment vouchers.When the amount of a single foreign exchange sale is equivalent to USD 50,000 or more, the individual shall directly transfer the renminbi capital gained from the sale of foreign exchange into the domestic renminbi account held by the counterparty of the transaction.Article 12 When a domestic individual’s non-business-based foreign exchangepurchases under the current account exceed the total annual quota,he/she shall handle the business at the banks upon the strength ofhis/her valid identity certificate and the relevant supporting documents indicating the transaction amount.Article 13 When an overseas individual purchases foreign exchange with his/her lawful renminbi income under the current account and exchanges the un-used part of the purchased renminbi back into foreign exchange, he/she shall handle it in accordance with the following provisions:(1) For foreign exchange purchases with lawful renminbi income under the current account obtained domestically, the individual shall handle it upon the strength of his/her valid identity certificate and relevant supporting documents (including taxreturns) indicating the transaction amount.(2) For exchanges of the un-used part of purchased renminbi backinto foreign exchange, the individual shall handle it upon the strength of his/her valid identity certificate and the original exchange memo, and the latter shall be valid for 24 months from the date of the exchange; in cases when the total daily amount is not more than and including the equivalent of USD 500 (or USD 1000 if the exchange is made within the boundaries but outside of the customs supervision zone beforehe/she leaves the country), the individual may handle it solely upon the strength of his/her valid identity certificate.Article 14 In cases when a domestic individual remits foreign exchangeoverseas for expenses under the current account, he/she shall handle it in accordance with the following provisions:When the remittance is made from the foreign exchange savings account and the total daily amount is not more than the equivalent of USD 50,000 (including USD 50,000), the individual shall handle it at the banks upon the strength of his/her valid identity certificate; if the amount is more than the above-mentioned quota, he/she shall handle it upon the strength of the authenticity evidence under the current account and indicating the transaction amount.When the remittance is made with foreign cash and the total daily amount is not more than the equivalent of USD 10,000 (including USD10,000), the individual shall handle it at the banksupon the strength of his/her valid identity certificate; if the amount is more than the above-mentioned quota, he/she shall handle it upon the strength of the authenticity evidence under the current account and indicating the transaction amount, and the Customs Luggage Declaration Form of the People’s Republic of China for Cross-Border Travelers with the custo ms’ seal stamped thereon or the original bank’s documents for withdrawal of foreign cash. Article 15 In cases when an overseas individual remits foreign exchange overseas forexpenses under the current account, he/she shall handle it at the banks in accordance with the following provisions:(1) When the remittance is made from a foreign exchange savings account, the individual shall handle it upon the strength of his/her valid identity certificate;(2) When the remittance is made with foreign cash and the totaldaily amount is not more than the equivalent of USD 10,000 (including USD 10,000), the individual shall handle it upon the strength of his/her valid identity certificate; if the amount is more than the above-mentioned quota, the individual shall handle it by also presenting the Declaration Form of the People’s Republic of China for Cross-Border Travelers’Luggage with the customs’ seal stamped thereon or the original bank’s documents for withdrawal of foreign cash.Chapter 3 Administration of Individual Foreign Exchange under the Capital Account Article 16 In cases when a domestic individual directly invests abroad, he/she shall abide by the relevant provisions of the State. As for the required foreign exchange, the individual may remit it abroad with purchased foreign exchange orhis/her proprietary foreign exchange upon the approval of the local foreign exchange bureau, and shall accordingly attend to theregistration of foreign exchange for overseas investment.When a domestic individual, or an overseas individual who resides habitually within Chinese territory because of economic interests,establishes or controls any special purpose company abroad and makes round-tripping investments, the foreign exchange receipts and payments involved shall be handled according to the Circular of the SAFE on Relevant Issues concerning Foreign Exchange Administration for Domestic Residents to Engage in Financing and Round-tripping Investments through Overseas Special Purpose Companies.Article 17 A domestic individual may use either foreign exchange or renminbi to make overseas fixed income investment and equity-related investment through banks, fund management companies, and other qualified domestic institutional investors.Article 18 The foreign exchange business involved when a domestic individual participates in employee shareholding plans and share option plans of overseas public companies shall be handled after the listed company or its domestic agency files a standard application and has obtained approval from the foreign exchange bureaus.A domestic individual’s foreign exchange proceeds from selling shares under employee shareholding plans and share option plans as well as from dividends may be sold for renminbi or transferred to his/her foreign exchange savings account after being remitted to the domestic special foreign exchange account opened by the listed company or its domestic agency.Article 19 In cases when a domestic individual pays foreign exchange insurance premiums to any domestic insurance institution that has been approved to conduct foreign exchange insurance business, he/she shallattend to the formalities of foreign exchange purchases and payments with the insurance contract and the notice of payment from the insurance institution. In cases when a domestic individual receives an indemnity or payment from foreign exchange insurance as a beneficiary, he/she may either deposit it in his/her foreign exchange savings account or sell it for renminbi.Article 20 In cases when a domestic individual who has emigrated abroad transfers overseas his/her domestic properties existing before his/her lawful emigration, or when a foreign citizen transfers overseas his/her lawful domestic inheritance, he/she shall handle it in accordance with the Interim Measures for the Administration of Foreign Exchange Purchases and Payments for Transfers Overseas of Personal Properties.Article 21 Foreign exchange issues involved in domestic purchases and sales of commercial buildings and mergers and acquisitions of domestic real estate enterprises by overseas individuals viatransferring stock equity shall be governed by the Circular of the SAFE and the Ministry of Construction on Issues Related to Standardizing the Administration of Foreign Exchange in the Real Estate Market and other relevant provisions.Article 22 An overseas individual may invest in domestic B-shares in accordancewith the relevant provisions; in cases when he/she invests in other financial products issued and traded domestically, he/she shall do so through qualified foreign institutional investors.Article 23 In accordance with the convertibility process of the renminbi under the capital account, management of granting loans to overseas individuals, borrowing external debts, granting overseas guarantees, and directly participating in any transactions related to overseas commodity futures and financial derivatives will be gradually loosened. Specific measures will be formulated separately.Chapter 4 Administration of Individual Foreign Exchange Accounts and Foreign Cash Article 24 The foreign exchange bureaus shall regulate individual foreign exchange accounts according to the type of entity and the nature of the transaction. When opening foreign exchange accountsfor individuals, banks shall differentiate domestic individuals from overseas individuals. Based on the nature of the transactions, foreign exchange accounts are classified into foreign exchange settlement accounts, foreign exchange savings accounts, and capital accounts.Article 25 A ?foreign exchange settlement account? refers to an account opened byan individual foreign trade business person or a private business person in accordance with the provisions for the purpose of handling business-based foreign exchange receipts and payments under the current account. It shall be regulated as an institutional account in terms of its opening, use, and closing.Article 26 In cases when an individual opens a foreign exchange savings account at the banks, he/she shall present his/her valididentity certificate. The name recorded on the opened account shall accord with that on his/her valid identity certificate.Article 27 In cases when an individual opens a foreign exchange account under the capital account, such as a special account for foreign investors, a special account of special purpose companies, a special account for mergers and acquisitions, or any other foreign exchange account under the capital account, or when transferring the capital in such an account domestically or remitting it abroad, he/she shall obtain approval from the foreign exchange bureaus.Article 28 Domestic transfers of the capital in an individualforeign exchange savings account shall be handled in accordance with the following provisions:(1) Transfers between the in dividual’s own accounts shall be handled upon the strength of his/her valid identity certificate;(2) Transfers between the individual’s and his/her immediate family members’ accounts shall be handled upon the strength of both parties’ valid identity certificates, and proof of the relationship of immediate family members;(3) Transfers between a domestic individual’s account and an overseas individual?saccount shall be regulated as cross-border transactions.Article 29 Capital transfers may be made bet ween an individual’s foreign exchange settlement account and his/her foreign exchange savings account to the extent that the transfers from the foreign exchange savings account to the foreign exchange settlement account are used only for external payments on the same date of thetransfer. Sales for renminbi after the transfer are prohibited.Article 30 When an individual withdraws foreign cash not more than the equivalent of USD 10,000 (including USD 10,000) within a single day, he/she may handle it directly at the banks; if the amount is more than the above-mentioned quota, he/she shall report in advance to the local foreign exchange bureau upon the strength of his/her valid identity certificate as well as the certificate for the purpose of withdrawing foreign cash. The bank shall attend to the formalities for withdrawing foreign cash upon the strength of the individual?s valid identity certificate and theRecording Form for Withdrawal of Foreign Cash (Attachment 1) with a seal of the foreign exchange bureau stamped thereon.Article 31 When an individual deposits foreign cash into his/her foreign exchange savings account and the total daily amount is not more than the equivalent of USD 5,000 (including USD 5,000), he/she may handle it directly at the banks; if the amount is more than the above-mentioned quota, he/she shall handle it at the banks upon the strength of his/her valid identity certificate, the Customs Luggage Declaration Form of the People’s Republic of China for Incoming Travelers with thecus toms’ seal stamped thereon or the original bank?s documents for the withdrawalof foreign cash. The bank shall indicate the name of the deposit bank, the amount of the deposit, and the date of the deposit on the relevant documents.Chapter 5 Management Information System for Individual Sales and Purchases of Foreign ExchangeArticle 32 Banks that are qualified to operate foreign exchange sale and purchase businesses and have been connected to and use the systemfor individual sales and purchases of foreign exchange shall handle the individual foreign exchange sales and purchases directly through the system for individual sales and purchases of foreign exchange.Article 33 The head offices and branches of all banks applying to be connected to the system for individual sales and purchases of foreign exchange shall meet the technical requirements for connection to the management information system for individual sales and purchases of foreign exchange (Attachment 2), shall have trained technicians and operational staff, and be able to maintain the normal operations of the system.Article 34 The banks shall complete the registration form for bank outlet information for the system for individual sales and purchases of foreign exchange in accordance with the relevant provisions and apply to the foreign exchange bureaus to be connected to the system. Afterverifying that the banks meet all the requirements, the foreign exchange bureaus shall approve the connection.Article 35 Except in the following circumstances, the banks shall handle individual foreign exchange sales and purchases through the system for individual sales and purchases of foreign exchange:(1) Foreign exchange sales and purchases that are made at exchange outlets;(2) Foreign exchange sales at bank counters that are less than the amount equivalentto USD 100 (including USD 100);(3) Foreign exchange sales for domestic expenditures with foreign currency cards;(4) Withdrawals of renminbi at ATMs with foreign cards;(5) Overseas purchases of foreign exchange for repayment with domestic cards.Article 36 Banks shall follow the following procedures to handle the business of individual foreign exchange sales and purchases:(1) Inquire information about the individual foreign exchange sales and purchases through the system for individual sales and purchases of foreign exchange;(2) Examine the supporting documents submitted by the individuals in accordance with the relevant provisions;(3) Input the data on foreign exchange sales and purchases case by case into the system for individual sales and purchases of foreign exchange;(4) Print out the "Notice on Foreign ExchangeSale/Purchase" through the system for individual sales and purchases of foreign exchange and retain it as an accounting voucher for future reference.Article 37 The foreign exchange bureaus shall be responsible for the examination and inspection of the banks under their jurisdiction on the standardization of operations as well as the completeness and accuracyof the data.Chapter 6 Supplementary ProvisionsArticle 38 In cases when an individual entrusts his/her immediate family member to handle foreign exchange purchases and sales within the total annual quota, the valid identity certificates of both theindividual and the entrusted family member, a letter of power ofattorney from the individual, and proof of the relationship are required; as regards other kinds of purchases and sales on behalf of the individual, the relevant supporting documents prescribed by these Detailed Rules are required in addition to the valid identitycertificates of both parties and a letter of power of attorney.An immediate family member refers to parent, child, or spouse. Proof of relationship refers to a certificate of residency showing the relationship of family members, a marriage certificate, or valid proofof the relationship issued by grass-roots governmental bodies, public security organs, or notaries.Article 39 When an individual or entity violates the Measures for the Administration of Individual Foreign Exchange and these Detailed Rules, he/she shall be subject to punishment by the foreign exchange bureaus according to the Regulations of the People’s Republic of China on Foreign Exchange Control as well as other relevant provisions; if there is no specific applicable stipulation in the Regulations of the People’s Republic of China on Foreign Exchange Control and other relevantprovisions, the responsible bank and individual shall be issued a fine of not more than RMB 30,000 and 1,000, respectively.Article 40 The State Administration of Foreign Exchange shall be responsible for the interpretation of these Detailed Rules.Article 41 These Detailed Rules shall be effective as of February 1, 2007.Attached 1: Recording Form for Withdrawal of Foreign CashAttachment 2: Technical Requirements for Connection to the Management Information System for Individual Sales and Purchases of Foreign ExchangeAttachment 1Filing Form for Withdrawal of Foreign Cash(This form shall be completed in duplicate; one copy shall be keptby the foreign exchange bureau, and the second copy shall be kept by the bank.)Attachment 2Technical Requirements for Connection to the Management Information System for Individual Sales and Purchases of Foreign Exchange1. Network Structure1.1 Bank outlets shall be connected to their head offices or data centers through the internal networks of the banks.1.2 Bank head offices or data centers shall be connected to the Management Information System for Individual Sales and Purchases of Foreign Exchange (hereinafter referred to as the ?system for individual sales and purchases of foreignexchange?) through an access point established by the SAFE.2. Internet Protocol2.1Link: PPP or HDLC2.2 Network: TCP/IP3. Principle of Internet Address3.1 The IP address and Internet address of the banks connected tothe system for individual sales and purchases of foreign exchange shall both be given by the SAFE.4. Network Reliability4.1 The banks shall use reliable circuits and equipment to connectto the system for individual sales and purchases of foreign exchange.This system gives priority to dedicated circuits and will provide ISDN or backup of other circuits in due time.4.2Banks with more than 50 (for the time being) outlets handling the business of individual foreign exchange sales and purchases shall use two different circuits for connection. During the early construction period of the system, one circuit is primary, and the other is backup. The bank internal networks and access networks shall adopt reliable backups.4.3 The banks are responsible for signing the contracts with telecommunication vendors for leasing the circuits for accessing the system for individual sales and purchases of foreign exchange, and for testing and connecting the circuits to ensure the service and quality of the circuits.4.4 The banks are obliged to cooperate with the SAFE to jointly ensure the normal operations of the access network. The SAFE is empowered to monitor the networkequipment directly connected to the foreign exchange bureau.5. Network Security Principle5.1 The SAFE is responsible for the security of the networks and systems at the terminal of each foreign exchange bureaus.5.2 The banks are responsible for the security of their internal networks, systems, and relevant equipment.5.3 Security is a long-term goal and shall be achieved step by step. All banks shall install relevant products and take suitable measures in。