Regulations:
Chapter I General Provisions
Article 1 In order to promote the further development of offshore RMB business in Hong Kong and support the development and construction of Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone (hereinafter referred to as Qianhai), these Measures are formulated in accordance with the spirit of the Overall Development Plan of Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone and the Reply of the State Council on Supporting the Development and Opening of Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone.
Article 2 The term "cross-border RMB loans in Qianhai" as mentioned in these Measures refers to qualified domestic enterprises borrowing RMB funds from banks operating RMB business in Hong Kong. Eligible domestic enterprises (hereinafter referred to as borrowing enterprises) refer to enterprises registered and established in Qianhai and actually operating or investing in Qianhai.
Article 3 A borrowing enterprise shall carry out relevant business in accordance with the provisions of these Measures, and fulfill the obligation of providing corresponding business data and filing.
Article 4 The term "domestic settlement banks" as mentioned in these Measures refers to Shenzhen banking financial institutions that handle the settlement of cross-border RMB loan funds in Qianhai. Domestic settlement banks shall carry out relevant business in accordance with the provisions of these Measures and perform corresponding audit responsibilities.
Article 5 The Shenzhen Central Sub-branch of the People's Bank of China (hereinafter referred to as Shenzhen PBOC) shall, under the guidance of the Head Office of the People's Bank of China, supervise the cross-border RMB loan business in Qianhai in accordance with these Measures.
Chapter II Loan Investment, Term and Interest Rate
Article 6 The People's Bank of Shenzhen shall manage the balance of RMB loans obtained by Qianhai enterprises in Hong Kong according to the development of RMB business in Hong Kong, the needs of Qianhai construction and the needs of domestic macro-control.
Article 7 The use of cross-border RMB loans in Qianhai shall be used for the construction and development of Qianhai on the premise of complying with relevant national policies.
Article 8 The term of cross-border RMB loans in Qianhai shall be independently determined by both borrowers and lenders within a reasonable range according to the actual use of the loans.
Article 9 The interest rate of cross-border RMB loans in Qianhai shall be independently determined by both borrowers and lenders, and shall be filed with the People's Bank of Shenzhen before the loans are issued.
Chapter III Business Handling
Article 10 Before handling cross-border RMB loan business in Qianhai, a borrowing enterprise shall file a filing application with Shenzhen People's Bank through a domestic settlement bank.
Article 11 Borrowing enterprises shall, in accordance with the Measures for the Administration of RMB Bank Settlement Accounts, submit business licenses and other materials to domestic settlement banks, and apply for opening a general deposit account, which is specially used for depositing cross-border RMB loan funds from Qianhai remitted from Hong Kong, and the account shall not handle cash receipts and payments.
Article 12 The borrowing enterprise shall repay the principal and interest of the cross-border RMB loan in Qianhai to the domestic settlement bank on the basis of the loan contract, the power of attorney for payment, the tax payment certificate and other materials.
Article 13 Cross-border RMB loans in Qianhai shall be settled through overseas RMB clearing banks or domestic correspondent banks.
Article 14 Borrowing enterprises and their domestic settlement banks shall handle cross-border RMB loans in Qianhai, and declare the balance of payments in accordance with the Measures for Reporting Balance of Payments Statistics and other relevant regulations.
Article 15 Domestic financial institutions and enterprises may provide guarantees for cross-border RMB loans in Qianhai by way of guarantee, mortgage or pledge in accordance with the provisions of the Guarantee Law of People's Republic of China (PRC), the Property Law of People's Republic of China (PRC) and the Notice of the People's Bank of China on Defining Relevant Issues Concerning Cross-border RMB Business.
Chapter IV Business Supervision
Article 16 A domestic settlement bank shall examine the authenticity of cross-border RMB loan funds used by borrowing enterprises.
Article 17 A domestic settlement bank shall earnestly fulfill its obligation of submitting information, and timely, accurately and completely submit to the RMB cross-border receipt and payment information management system the account opening information of the general deposit account opened in accordance with these Measures and the information of cross-border RMB fund receipts and payments handled through this account.
Article 18 If a domestic enterprise handles cross-border RMB loans in Qianhai and opens a RMB account in Hong Kong, it shall report to the People's Bank of Shenzhen for filing within 5 working days after the business occurs.
Article 19 A domestic settlement bank shall, in accordance with the Anti-Money Laundering Law of People's Republic of China (PRC) and the relevant provisions of the People's Bank of China, earnestly fulfill its anti-money laundering and anti-terrorist financing obligations and prevent illegal and criminal activities such as money laundering and terrorist financing.
Article 20 The People's Bank of Shenzhen shall conduct off-site supervision and on-site inspection of Qianhai's cross-border RMB loan business in accordance with these Measures.
Chapter V Supplementary Provisions
Article 21 If a borrowing enterprise or a domestic settlement bank violates the relevant provisions of these Measures, the People's Bank of Shenzhen may suspend its handling of cross-border RMB loans in Qianhai. In violation of other laws and regulations, according to the relevant provisions.
Article 22 The Shenzhen People's Bank shall be responsible for the interpretation of these Measures.
Article 23 These Measures shall be implemented as of the date of promulgation.