(1989-0 1-07) State Administration of Foreign Exchange? In order to strengthen the foreign exchange management of Chinese investors in Sino-foreign joint ventures and cooperative ventures (hereinafter referred to as joint ventures), promote the healthy development of joint ventures and safeguard national interests, the following provisions are formulated: 1. Within five years from the date of obtaining the business license, the foreign exchange income of China investors shall enjoy full foreign exchange retention. After five years, 50% will be retained. 2. If Chinese personnel of a joint venture go abroad to perform tasks with foreign personnel due to business needs, the expenses of Chinese personnel abroad shall be reimbursed according to the standards stipulated by the joint venture. Three, the Chinese personnel of the joint venture to go abroad to perform tasks alone, the cost standard can be calculated according to the standards set by the joint venture, and the actual use is carried out according to the standards of the national dispatched personnel. Four. What can be done to collect the balance of Chinese personnel's expenses for going abroad according to the standards stipulated by the joint venture and use it according to state regulations? The foreign exchange income of Chinese investors in a joint venture shall be settled with the bank and retained by the foreign exchange administration department on the basis of the settlement memo. 5. The China investors of the joint venture shall transfer the wages, labor services and foreign exchange of the industry that they should pay to the employees in China? Foreign exchange, foreign exchange dividends and other foreign exchange income shall be settled with the bank, and shall be retained by the foreign exchange administration department on the basis of the settlement memo. Six, without the approval of the foreign exchange administration department, the Chinese investor in the joint venture has the following lines? First, the foreign exchange administration department can impose penalties according to the detailed rules for the implementation of penalties for violating foreign exchange administration, depending on the seriousness of the case: 1 deposit the foreign exchange income that should be settled by the state into the foreign exchange account of the joint venture, and do not handle foreign exchange settlement with the state bank; (2) Import goods or pay other expenses with the account of the joint venture; (3) Depositing foreign exchange settlement income abroad. Seven, the right to interpret these provisions belongs to the State Administration of foreign exchange. Eight, the provisions shall be implemented as of March 1st, 1989.