Laws of the People's Republic of China

State Administration of Foreign Exchange

Notice of the State Administration of Foreign Exchange on the Promotion of the Statistics and Supervision System of External Debt (Bank Edition) and the Adjustment of the Requirement of Submitting Data of External Debt

Hui Fa [2005] No. 78

October 28, 2005

Branches of the State Administration of Foreign Exchange in all provinces, autonomous regions, municipalities under direct control of the Central Government, Branches in the Cities of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo, and all designated Chinese-funded foreign exchange banks:

In order to further improve the accuracy and timeliness of the statistics of external debt, the State Administration of Foreign Exchange will in the near future promote nationwide the Statistics and Supervision System of External Debt (Bank Edition). The notice is hereby given on relevant issues concerning the promotion program and the requirement of submitting data of external debt.

I.

As of November 1, 2005, such Chinese-funded banks as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Construction Bank of China, the State Development Bank, the Agricultural Development Bank of China, the Export-Import Bank of China, CITIC Industrial Bank, China Everbright Bank, Huaxia Bank China Minsheng Banking Corp., Ltd. shall submit the data of external debt by logging on the Statistics and Supervision System of External Debt (Bank Edition).

II.

Other headquarters of Chinese-funded banks (excluding City Commercial Banks, Urban Credit Cooperatives and Rural Credit Cooperatives) and the foreign-funded banks shall, as of December 1, 2005, submit the data of external debt by logging on the Statistics and Supervision System of External Debt (Bank Edition).

III.

The mode of submitting the data of external debt for the City Commercial Banks, the Urban Credit Cooperatives, the Rural Credit Cooperatives and branches of all the Chinese-funded banks shall remain unchanged.

IV.

After the banks adopt the Statistics and Supervision System of External Debt (Bank Edition), they shall daily submit the data of external debt case-by-case (excluding the Usance Letter of Credit and the non-resident account). The banks shall, before the end of every work day, record the newly-signed external debts and the external debts experiencing changes in day concerned into the Statistics and Supervision System of External Debt (Bank Edition).

V.

The usance letter of credit shall, depending on different currencies and time limits, be reported on a consolidated basis. The usance letter of credit of the same currency, whose time limit is within one year, shall be reported on a consolidated basis; and the usance letter of credit of the same currency, whose time limit is more than one year, shall be reported on a consolidated basis.

VI.

The non-resident account shall, depending on different currencies, be reported on a consolidated basis, and be recorded as external debt of bank (within one month).

VII.

This notice shall go into effect as of the date of promulgation. Upon receiving this notice, all the Branches shall promptly transmit it to the Sub-branches and the foreign-funded banks under their jurisdiction. If any question is encountered in the implementation of this notice, please contact the Department of Capital Account Management of the State Administration of Foreign Exchange.

Contact Person: Zhou Haiwen

Contact Telephone Number: 010-68402366