Laws of the People's Republic of China

RULES FOR THE IMPLEMENTATION OF FOREIGN EXCHANGE
CONTROLS RELATING TO FOREIGN INSTITUTIONS IN
CHINA AND THEIR PERSONNEL

 (Promulgated by the State General Administration
of Exchange Control on August 10, 1981)

 

SUBJECT: FOREIGN EXCHANGE

ISSUING-DEPT: STATE ADMINISTRATION OF EXCHANGE CONTROL

ISSUE-DATE: 08/10/1981

IMPLEMENT-DATE: 08/10/1981

LENGTH: 370 words

TEXT:

[Article 1] These Rules are formulated in order to implement the provisions of Articles 20 and 21 of the Interim Regulations on Foreign Exchange Control of the People's Republic of China.

[Article 2] Convertible foreign exchange and Renminbi foreign exchange instruments remitted or brought in from foreign countries or from Hongkong, Macao or other regions by foreign diplomatic missions, consular missions and commercial missions in China, by offices of international organizations and non-governmental institutions in China (hereafter referred to as "institutions in China"), and by diplomats, consuls and permanent personnel attached to the various institutions in China, may be kept in their own possession, or sold to or deposited in the Bank of China, or remitted abroad.  If they are to be taken abroad, the matter shall be handled according to the Rules for the Implementation of Controls Relating to Carrying Foreign Exchange, Precious Metals and Foreign Exchange Instruments Into and Out of China.

[Article 3] In regard to countries that have signed payment agreements with China, their institutions in China and personnel thereof shall only receive payment in Renminbi when foreign exchange remittances to them are effected through a clearing account.

[Article 4] If foreign diplomatic missions and consular missions in China request that the visa fees and certification fees that they receive in Renminbi from Chinese citizens be converted into foreign exchange, they must file a written application with the State General Administration of Exchange Control or its branch office in their locality, and the matter shall be handled in accordance with the approval received.

[Article 5] If institutions in China and their personnel sell various kinds of articles, equipment and appliances, etc., that they previously brought into China from abroad or from Hongkong, Macao or other regions, or that they bought in China, the Bank of China shall not provide them with foreign exchange for the Renminbi proceeds they receive from the sale.

[Article 6] These Rules shall be promulgated and put into effect by the State General Administration of Exchange Control.