Laws of the People's Republic of China

The State Administration of Foreign Exchange, the Ministry of Foreign Trade and Economic Cooperation

Circular of the State Administration of Foreign Exchange (SAFE) and the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) on Adjusting Examination Indicators for Collection of Export Proceeds

HuiFa [2002] No.18

February 8, 2002

SAFE branches and exchange administration offices in all provinces, autonomous regions, and municipalities directly under the Central Government, and SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen and Ningbo; Commissions (departments, bureaus) of foreign trade and economic cooperation in all provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan:

With the improvement of supervisory technology and the promulgation of policies encouraging export, the SAFE has abolished the limitation on the validity period of the paper of export proceeds verification (hereinafter referred to as the verification paper). Accordingly related examination indicators mentioned in the Circular on Distributing Proposed Methods for the Examination of Collection of Export Proceeds (HuiFa [1999] No.103) promulgated jointly by the SAFE and the MOFTEC in March 1999 shall be adjusted. A circular on related issues is given hereunder:

1.

Delivery rate of the verification paper as an essential condition in rating the collection of export proceeds by enterprises shall be nullified, and the rate of export proceeds collection shall be the only indicator for the examination.

2.

The 2001 examination of export proceeds collection shall be conducted using the new indicator.

3.

This circular shall be transmitted to the sub-branches under your jurisdiction and to the departments in charge of foreign trade and economic cooperation as well as all importers and exporters.