Chapter I General Provisions Article 1 In order to strengthen the management of foreign exchange business of banks, ensure the healthy development of foreign exchange business and maintain the stability of financial order, these Provisions are formulated in accordance with the Law of People's Republic of China (PRC) City on Commercial Banks and the Regulations of People's Republic of China (PRC) on Foreign Exchange Management. Article 2 Banks mentioned in these Provisions refer to Chinese-funded banks and their branches established in People's Republic of China (PRC) with the approval of the People's Bank of China, including policy banks, wholly state-owned commercial banks, joint-stock commercial banks and urban cooperative banks. Article 3 Banks engaged in foreign exchange business shall abide by these Provisions. Article 4 A bank may engage in some or all of the following foreign exchange businesses:

(1) Foreign exchange deposits;

(2) Foreign exchange loans;

(3) Foreign exchange remittance;

(4) foreign currency exchange;

(5) international settlement;

(6) Inter-bank foreign exchange borrowing;

(7) Acceptance and discount of foreign exchange bills;

(8) Foreign exchange loans;

(9) Foreign exchange guarantee;

(10) Settlement and sale of foreign exchange;

(11) Issuing or acting as an agent to issue foreign currency securities other than stocks;

(12) buying, selling or acting as an agent for foreign currency securities other than stocks;

(thirteen) self trading in foreign exchange or trading in foreign exchange on behalf of customers;

(fourteen) the issuance of foreign exchange credit cards and the issuance and payment of foreign credit cards;

(fifteen) credit investigation, consultation and witness business;

(16) Other foreign exchange businesses approved by the State Administration of Foreign Exchange.

The above foreign exchange business is defined by the State Administration of Foreign Exchange. Article 5 The State Administration of Foreign Exchange and its branches (hereinafter referred to as foreign exchange bureaus) are the administrative organs of foreign exchange business of banks, and are responsible for the examination, approval, management, supervision and inspection of foreign exchange business of banks. Article 6 The State Administration of Foreign Exchange shall exercise hierarchical management over the examination and approval of foreign exchange business of banks.

The operation of foreign exchange business by the head office of a bank must be approved by the State Administration of Foreign Exchange.

Branches of banks at or above the county level (excluding county-level branches) engaged in foreign exchange business shall be audited by provincial branches and reported to the State Administration of Foreign Exchange for approval.

Bank branches below the county level (including county branches, offices, savings offices, etc.). ) foreign exchange business shall be examined and approved by provincial branches. Article 7 The business scope of a bank branch shall not exceed the business scope of its superior institution. Article 8 Banks operating foreign exchange business must be approved by the foreign exchange bureau and operate within the approved business scope. Shall not engage in foreign exchange business without authorization or beyond the scope of foreign exchange business. Chapter II Application for Foreign Exchange Business Article 9 A bank shall apply to the foreign exchange bureau for starting, expanding or stopping foreign exchange business. Article 10 Banks that meet the following conditions may apply for foreign exchange business:

(1) Abide by the relevant provisions of laws, administrative regulations and financial rules, and have no acts that harm the public interests of the state and society, no major illegal acts and no economic losses;

(2) Having paid-in foreign exchange funds or working capital in a specified amount.

The head offices of policy banks, wholly state-owned commercial banks and joint-stock commercial banks shall include paid-in foreign exchange capital of not less than USD 50 million or other freely convertible currencies; The total capital of the head office of the city cooperative bank shall be no less than 20 million US dollars or the equivalent freely convertible foreign exchange capital.

The working capital of the tier-one branch of a bank shall be no less than USD 5 million or its equivalent in a freely convertible currency; The working capital of the secondary branch of the bank shall be no less than USD 2 million or other freely convertible currencies; The working capital of the bank branch shall be no less than USD 654.38 million or other equivalent freely convertible currencies;

(3) Having a certain number of foreign exchange business personnel whose qualifications have been confirmed by the foreign exchange bureau and are commensurate with the number of foreign exchange business declarations.

50% of foreign exchange business personnel should have more than 2 years of foreign exchange experience. The person in charge of foreign exchange business shall have a college degree or above, have been engaged in financial work for more than 5 years or engaged in foreign exchange business for more than 3 years, have good business performance, and have no bad behavior or major work mistakes that are not suitable for financial work;

(4) Having a place and equipment suitable for foreign exchange business;

(5) Other conditions as required by the State Administration of Foreign Exchange. Article 11 A bank applying for foreign exchange business shall submit the following documents and materials:

(1) An application report for operating foreign exchange business;

(2) A feasibility report on foreign exchange business;

(3) The original and photocopy of the business license issued by the People's Bank of China;

Articles of Association approved by the People's Bank of China;

(5) The capital verification report (original) of the registered accounting firm recognized by the foreign exchange bureau on the paid-in foreign exchange capital or foreign exchange working capital, or the commitment document of the head office on its foreign exchange working capital;

(6) The name list and resumes of the foreign exchange business personnel of the bank and the qualification certificates of foreign exchange business personnel issued by the foreign exchange bureau;

(7) Rules, regulations and internal control systems that are compatible with the application for foreign exchange business;

(8) Brief introduction of the places and facilities for conducting foreign exchange business;

(9) Other documents and materials required by the State Administration of Foreign Exchange.

In addition to the above documents and materials, the bank branch shall also submit the approval documents of its head office for starting foreign exchange business and the acceptance report of foreign exchange business preparation.