Administrative Measures for the Verification and Writing-off of Export Proceeds in Foreign Exchange
Administrative Measures for the Verification and Writing-off of Export Proceeds in Foreign Exchange
Administrative Measures for the Verification and Writing-off of Export Proceeds in Foreign Exchange
Guo Han [1990] No.103
December 18, 1990
Article 1 These Measures are formulated in order to strengthen the administration of the collecting of export proceeds in foreign exchange in accordance with the provisions in Interim Administrative Regulations of the People's Republic of China on Foreign Exchange and with the requirements of the State Council concerning the strengthening and perfecting of the system of
the collecting, verifying and writing-off of export proceeds in foreign exchange.
Article 2 Definitions
(1) "Departments for foreign exchange control" refers to the State Administration of Foreign Exchange Control and its branch offices;
(2) "Trustee banks" refers to those banks (including foreign-capital financial institutions set up within the territory of China, and Chinese- foreign equity joint financial institutions) or non-banking financial institutions which are approved by the State Administration of Foreign Exchange Control to have the right to accept the entrustment of export units for tendering documents to and claiming reimbursements from foreign firms abroad.
(3) "Paying banks" refers to those banks (including foreign-capital financial institutions established within the territory of China, and Chinese-foreign equity joint financial institutions), or those non-banking financial institutions which are approved by the State Administration of Foreign Exchange Control to have the right to accept the entrustment of export units for tendering documents to and claiming reimbursements from foreign firms abroad, and which can deliver payments for goods to exporters in either RMB yuan or foreign exchange;
(4) "Exporters" refers to those companies which have been approved by the Ministry of foreign Economic Relations and Trade or by its authorized units to have the right to handle export business, and also to those enterprises as well as enterprises with foreign investment which have the right to handle foreign trade.
(5) "Instrument for the collecting, verifying and writing-off of export proceeds in foreign exchange" (also referred to as "verifying and writing- off instrument" for short) refers to vouchers with serial numbers, printed and issued by the State Administration of Foreign Exchange Control, filled in by exporters, trustee banks and paying banks, accepted by the Customs as documents for clearance of goods, and used by departments for foreign exchange control for verifying and writing-off export proceeds in foreign exchange; and the said instrument has counterfoil attached to it;
(6) "The deadline for the collecting" refers to the deadlines, as stipulated in Article 9 of these Measures, for the settlement or the collection of export proceeds in foreign exchange;
(7) "The overdue uncollected foreign exchange" refers to the non-settled or uncollected export proceeds in foreign exchange, after the deadline for the collection.
Article 3 These Measures shall apply to all cases concerning the collection of foreign exchange under the heading of export trade done in all forms.
Article 4 Exporters shall apply to the local department for foreign exchange control for the verifying and writing-off instrument, which is affixed with a stamp - with the inscription "COLLECTING OF FOREIGN EXCHANGE UNDER SUPERVISION" - by the department for foreign exchange control.
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