Laws of the People's Republic of China

the Standing Committee of the National People's Congress

Order of the President of the People's Republic of China

No. 41

The Law of the People's Republic of China on Exempting Foreign Central Bank's Properties in China From Judicial Enforcement, which was adopted at the 18th session of the Standing Committee of the Tenth National People's Congress of the People's Republic of China on October 25, 2005, are hereby promulgated and shall go into effect as of the day of its promulgation.

Hu Jintao, the President of the People's Republic of China

October 25, 2005

Law of the People's Republic of China on Exempting Foreign Central Bank's Properties in China from Judicial Enforcement

Article 1

The People's Republic of China grants to the properties of a foreign central bank the exemption of judicial enforcement in property preservation and enforcement, except for properties on which the foreign central bank or its governments gives up exemption in writing, or those properties are specially used in property preservation and enforcement.

Article 2

The "foreign central banks" as mentioned in the present Law refer to the central banks of foreign countries and regional economic integration organizations, or those financial administrations exercising the functions of a central bank.

The "properties of a foreign central bank" as mentioned in the present Law refer to the cash, bills, bank deposits, securities, foreign exchange reserves and gold reserves, as well as real estate and other properties of the said bank.

Article 3

In case a foreign country does not grant the exemption to the properties of the central bank of the People's Republic of China or the properties of financial administrative organs of special administrative regions of the People's Republic of China, or grants the exemption that is lower than that as prescribed in the present Law, the People's Republic of China shall handle the matter in accordance with the principle of reciprocity.

Article 4

The present Law shall go into effect as of the day of promulgation.