Chapter I General Principles

Article 1 These Regulations are formulated for the purpose of developing the savings business, protecting the legitimate rights and interests of depositors and strengthening the management of savings.

Article 2 All savings institutions and individuals engaged in savings business within the territory of China must abide by the provisions of these Regulations.

Article 3 The term "savings" as mentioned in these Regulations refers to the activities in which an individual deposits all RMB or foreign currency in a savings institution, and the savings institution issues a passbook or deposit slip, and the individual draws the principal and interest of the deposit with the passbook or deposit slip, and the savings institution pays the principal and interest of the deposit in accordance with the regulations.

No unit or individual may convert public funds into savings deposits in the name of individuals.

Article 4 The term "savings institutions" as mentioned in these Regulations refers to the institutions that banks and credit cooperatives handle savings business with the approval of the People's Bank of China or its branches, and the institutions that postal enterprises handle savings business according to law.

Article 5 The state protects the ownership and other legitimate rights and interests of individual legal savings deposits and encourages individuals to participate in savings.

Savings institutions must follow the principle of "voluntary deposit, free withdrawal, interest-bearing deposit and confidentiality for depositors" when handling savings business.

Article 6 The People's Bank of China is responsible for the national savings management.

The People's Bank of China and its branches are responsible for the examination and approval of savings institutions and savings businesses, coordinating and arbitrating savings business disputes among relevant savings institutions, supervising and auditing the business work of savings institutions, and correcting and punishing acts that violate national savings laws, regulations and policies.

Article 7 With the approval of the State Council, the People's Bank of China may take appropriate measures to stabilize deposits and protect the interests of depositors.

Article 8 Except for savings institutions, no unit or individual may handle savings business.

Chapter II Savings Institutions

Article 9 The establishment of a savings institution shall follow the principles of unified planning, convenience for the masses, effectiveness and safety.

Article 10 The establishment of a savings institution shall be reported to the People's Bank of China or its branches for approval in accordance with the relevant provisions of the state, and an application for a Financial Business License shall be made, except as otherwise provided by national laws and administrative regulations.

Eleventh the establishment of a savings institution must meet the following conditions:

(1) The name, organization and business place of the institution;

(two) no less than four staff members who are familiar with the savings business;

(3) Having necessary safety precautions.

Twelfth approved by the local people's Bank of China branch, savings institutions can set up a savings agency. Measures for the administration of savings institutions shall be formulated by the People's Bank of China.

Article 13 A savings institution shall operate within the prescribed time, and shall not suspend business or shorten its business hours without authorization.

Article 14 Savings institutions shall ensure the payment of the principal and interest of savings deposits, and shall not refuse to pay the principal and interest of savings deposits in violation of regulations.

Fifteenth savings institutions shall not use improper means to absorb savings deposits.

Chapter III Savings Business

Article 16 A savings institution may handle the following RMB savings business:

(1) Current savings deposits;

(2) lump-sum deposit and withdrawal of fixed-term savings deposits;

(3) lump-sum savings deposits;

(4) principal of time deposit;

(5) lump-sum deposit and withdrawal of fixed-term savings deposits;

(6) Regular and convenient savings deposits;

(seven) overseas Chinese (RMB) lump sum savings deposits;

(eight) other types of savings deposits approved by the People's Bank of China.

Article 17 With the approval of the foreign exchange administration department, savings institutions may handle the following foreign currency savings businesses:

(1) Current savings deposits;

(2) lump-sum deposit and withdrawal of fixed-term savings deposits;

(3) Other types of foreign currency savings deposits approved by the People's Bank of China.

When handling foreign currency savings business, the principal and interest of deposits should be paid in foreign currency.

Article 18 A savings institution may, at the same time as handling time deposit business, handle time deposit automatic rollover business for depositors according to their wishes.

Nineteenth according to the national housing reform policies and actual needs, with the approval of the local branch of the People's Bank of China, savings institutions can handle personal housing savings business.

Twentieth approved by the people's Bank of China or its branches, savings institutions can handle the following financial services:

(a) the sale and payment of bonds, financial bonds, corporate bonds and other securities targeted at individual residents;

(2) Small mortgage loan business of personal time deposit certificates;

(3) Other financial services.

Twenty-first savings institutions can handle the business of paying wages and collecting rent, utilities and so on.

Chapter IV Savings Deposit Interest Rate and Interest Calculation

Article 22 The interest rate of savings deposits shall be set by the People's Bank of China and announced after being approved by the State Council, or be set and announced by the People's Bank of China authorized by the State Council.

Twenty-third savings institutions must publish the interest rate of savings deposits, and shall not change it without authorization.

Article 24 If all unexpired time savings deposits are withdrawn in advance, interest shall be calculated and paid according to the interest rate of current savings deposits listed on the withdrawal date; If part of the withdrawal is made in advance, the interest will be calculated and paid according to the interest rate of current savings deposits announced on the date of withdrawal, and the interest will be calculated and paid according to the interest rate of fixed savings deposits announced on the date of account opening.

Twenty-fifth overdue withdrawal of time savings deposits, beyond the original deposit period, in addition to the agreed automatic transfer, according to the withdrawal date announced the interest rate of current savings deposits.

Article 26 If the interest rate of fixed-term savings deposits is adjusted during the deposit period, the interest shall be calculated and paid according to the corresponding interest rate of fixed-term savings deposits published on the date of opening the deposit certificate.

Article 27 If the interest rate of current savings deposits is adjusted during the deposit period, the interest shall be calculated and paid according to the interest rate of current savings deposits listed and announced on the interest settlement date. If all the current savings deposits are withdrawn, the interest will be calculated and paid according to the current savings deposit interest rate announced on the closing day.

Twenty-eighth depositors believe that there is an error in the interest payment of savings deposits, and have the right to apply to the handling savings institutions for review; Handling savings institutions shall promptly accept and review.

Chapter V Early Withdrawal, Loss Reporting, Inquiry and Transfer

Article 29 When withdrawing an unexpired time savings deposit in advance, the depositor must hold the certificate of deposit and the identity certificate of the depositor; If the withdrawal is made on behalf of the depositor, the payee must also hold the identity certificate of the depositor.

Article 30 certificates of deposit and passbooks are divided into registered and bearer types. Registered certificates of deposit and passbooks can report the loss, while bearer certificates of deposit and passbooks cannot.

Article 31 If a depositor loses his certificate of deposit, passbook or reserved seal, he/she must immediately show his/her identity certificate, provide the depositor's name, account opening time, deposit type, amount, account number and address, and apply in writing to the savings institution where he/she opened the account to report the loss. Under special circumstances, depositors can apply for loss reporting orally or by letter, but they must apply in writing within 5 days.

After accepting the report of loss, the savings institution must immediately stop paying savings deposits; If the savings deposit has been withdrawn by others before accepting the report of loss, the savings institution shall not be liable for compensation.

Thirty-second savings institutions and their staff have the responsibility to keep the depositors' savings confidential.

Savings institutions shall not inquire, freeze or transfer savings deposits on behalf of any unit or individual, except as otherwise provided by national laws and administrative regulations.

Article 33 Where the dispute over the ownership of savings deposits involves the transfer of ownership, the savings institution shall go through the transfer formalities according to the legally effective judgment, ruling or conciliation statement of the people's court.

Chapter VI Legal Liability

Thirty-fourth units and individuals that violate the provisions of these Regulations and commit any of the following acts shall be ordered by the People's Bank of China or its branches to make corrections, and may be fined, suspended for rectification or revoked the license for financial business according to the seriousness of the case; If the circumstances are serious enough to constitute a crime, criminal responsibility shall be investigated according to law:

(1) Opening savings business without authorization;

(2) setting up a savings institution without authorization;

(3) A savings institution opens a new variety of savings without authorization;

(4) Savings institutions handle other financial businesses other than those stipulated in these Regulations without authorization;

(five) to suspend business or shorten business hours without authorization;

(six) savings institutions take improper means to absorb savings deposits;

(seven) in violation of the provisions of the national interest rate, changing the interest rate of savings deposits without authorization;

(8) disclosing the savings of depositors or inquiring, freezing or allocating savings deposits without legal procedures;

(nine) other acts in violation of national savings laws, regulations and policies.

Violation of the provisions of the second paragraph of Article 3 of these regulations shall be punished in accordance with the relevant provisions of the state.

Thirty-fifth if a party refuses to accept the punishment decision, it may apply for reconsideration in accordance with the Administrative Reconsideration Law of People's Republic of China (PRC). If a party refuses to accept the reconsideration decision, he may bring a lawsuit to the people's court in accordance with the provisions of the Administrative Procedure Law of the People's Republic of China.

Article 36 If an applicant for reconsideration fails to file a lawsuit or perform the reconsideration decision within the time limit, it shall be implemented in accordance with the Administrative Reconsideration Law of People's Republic of China (PRC).

Article 37 Where a savings institution violates the relevant provisions of the State and infringes upon the legitimate rights and interests of depositors, causing losses, it shall be liable for compensation according to law.

Chapter VII Supplementary Provisions

Thirty-eighth before the implementation of these regulations, the time savings deposits shall be subject to interest-bearing matters in accordance with the relevant provisions of the state before the implementation of these regulations.

Article 39 The People's Bank of China shall be responsible for the interpretation of these Regulations, and the detailed rules for implementation shall be formulated by the People's Bank of China.

Article 40 These Regulations shall come into force as of March 6, 1993. 1The Articles of Association of the People's Bank of China promulgated by the People's Bank of China on May 28th, 980 shall be abolished at the same time.