Chapter I General Provisions

Article 1 In order to facilitate individual foreign exchange receipts and payments, simplify business procedures and standardize foreign exchange management, these Measures are formulated in accordance with the Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management and the Regulations on the Administration of Settlement, Sale and Payment of Foreign Exchange.

Article 2 Personal foreign exchange business is divided into domestic and overseas personal foreign exchange business according to the transaction subject, and personal foreign exchange business under current account and capital account is divided into domestic and overseas personal foreign exchange business according to the transaction nature. Manage personal foreign exchange business according to the above classification.

Article 3 The foreign exchange business of personal current account shall be managed according to the principle of convertibility, and the foreign exchange business of individual capital account shall be managed according to the convertibility process.

Article 4 The State Administration of Foreign Exchange and its branches (hereinafter referred to as the foreign exchange bureaus) shall, in accordance with the provisions of these Measures, supervise and manage individual domestic and cross-border foreign exchange business.

Article 5 Individuals shall handle relevant foreign exchange business in accordance with the provisions of these Measures. Banks shall handle foreign exchange receipts and payments, settlement and sale of foreign exchange and open foreign exchange accounts for individuals in accordance with the provisions of these Measures, and examine the authenticity of valid identity documents and relevant certification materials submitted by individuals. Remittance agencies and foreign currency exchange agencies (including exchange points) handle personal foreign exchange business for individuals in accordance with the provisions of these Measures.

Article 6 A bank shall handle the personal purchase and settlement of foreign exchange through the management information system designated by the foreign exchange bureau, truthfully and accurately enter the relevant information, and keep the personal business-related information for at least five years for future reference.

Article 7 When handling personal foreign exchange business, banks and individuals shall abide by the relevant provisions of these Measures, and shall not evade quota supervision by splitting, or use false commercial documents or vouchers to evade authenticity management.

Article 8 Individuals' cross-border receipts and payments shall go through the procedures for the declaration of balance of payments statistics in accordance with the relevant provisions on the declaration of balance of payments statistics.

Article 9 Individual settlement of foreign exchange and domestic individual purchase of foreign exchange shall be subject to annual total management. Within the total annual amount, it shall be handled in the bank with my valid identity certificate; If it exceeds the annual total, it shall be handled in the bank with my valid identity certificate and relevant certificates of the transaction amount under the current account, and under the capital account, it shall be handled in accordance with the relevant provisions of Chapter III.

Chapter II Foreign Exchange Management of Personal Current Account

Article 10 After an individual foreign trade operator who is engaged in the import and export of goods has registered the right to operate foreign trade in the commercial department, the revenue and expenditure of foreign exchange funds for trade shall be managed according to the foreign exchange revenue and expenditure of this institution.

Article 11 After industrial and commercial registration or other practice procedures, an individual may entrust an enterprise with the right to operate foreign trade to act as an agent for the receipt, payment, transfer and settlement of foreign exchange funds under import and export, tourism and shopping, and small-scale border trade.

Article 12 If a domestic individual remits foreign exchange from the current account abroad, and the single remittance or the accumulated remittance amount on that day is less than the specified amount, he shall go to the bank with his valid identity certificate; If a single remittance or the accumulated remittance on the same day exceeds the specified amount, it shall be handled at the bank with my valid identity certificate and relevant proof of the transaction amount.

Article 13 An overseas individual may purchase foreign exchange and remit it in a bank with his valid identity certificate and relevant supporting materials.

Fourteenth overseas individuals who remit unused foreign exchange abroad can remit it back to the bank by the same way with their valid identity documents.

Article 15 When an overseas individual exchanges unused RMB for foreign currency cash, he/she shall present his/her valid identity certificate to a bank or foreign currency exchange institution for small amount exchange; If the amount exceeds the specified amount, you can go to the bank with the original exchange memo.

Chapter III Personal Foreign Exchange Management under Capital Account

Article 16 Domestic individuals whose overseas direct investment meets the requirements may purchase foreign exchange or remit it in their own foreign exchange with the approval of the foreign exchange bureau, and go through the foreign exchange registration for overseas investment.

Article 17 Domestic individuals shall purchase B shares and make overseas equity, fixed income and other financial investments approved by the state through domestic financial institutions with corresponding business qualifications in accordance with relevant regulations.

Article 18 Domestic individuals can pay insurance premiums under foreign exchange life insurance to domestic insurance institutions by purchasing foreign exchange or paying in their own foreign exchange.

Article 19 Income from legitimate capital projects obtained by domestic individuals abroad may be settled with the approval of the foreign exchange bureau.

Article 20 Domestic individuals who need to purchase and pay foreign exchange for overseas donations and property transfer shall comply with relevant regulations and obtain the approval of the foreign exchange bureau.

Article 21 Domestic individuals who provide loans, borrow foreign debts, provide external guarantees and directly participate in overseas commodity futures and financial derivatives transactions shall comply with relevant regulations and go through corresponding registration procedures at the foreign exchange bureau.

Article 22 The purchase of domestic commercial housing by overseas individuals shall conform to the principle of self-use, and the receipt, payment and exchange of foreign exchange funds shall conform to the relevant foreign exchange management regulations. Renminbi obtained by overseas individuals from selling domestic commercial houses can be purchased and remitted with the approval of the foreign exchange bureau.

Twenty-third unless otherwise stipulated by the state, overseas individuals may not buy domestic equity and fixed income financial products. The purchase of B shares by overseas individuals shall be handled in accordance with relevant state regulations.

Twenty-fourth foreign exchange deposits of overseas individuals in China should be included in the short-term foreign debt balance management of deposit financial institutions.

Twenty-fifth overseas individuals to provide loans or guarantees to domestic institutions, should comply with the relevant provisions of foreign debt management.

Article 26 The transfer of legal property of overseas individuals in China shall be handled in accordance with the relevant foreign exchange control regulations on the transfer of personal property abroad.

Chapter IV Personal Foreign Exchange Account and Foreign Currency Cash Management

Twenty-seventh personal foreign exchange accounts are divided into domestic personal foreign exchange accounts and overseas personal foreign exchange accounts according to subject categories; According to the nature of the account, it is divided into foreign exchange settlement account, capital account and foreign exchange savings account.

Article 28 A bank shall determine the type of account subject according to the identity documents and other supporting materials provided by individuals when opening an account, and the foreign exchange account opened shall use the name consistent with that recorded in its valid identity documents. Domestic transfer of foreign exchange accounts of domestic individuals and overseas individuals is managed according to cross-border transactions.

Article 29 An individual may open a foreign exchange settlement account after going through industrial and commercial registration or other practice procedures.

Thirtieth domestic individuals engaged in foreign exchange trading and other transactions shall be handled through domestic financial institutions that have obtained corresponding business qualifications according to law.

Article 31 Foreign individuals who invest directly in China may, with the approval of the foreign exchange bureau, open special foreign exchange accounts for foreign investors. The funds in the account can be settled with the approval of the foreign exchange bureau. After the direct investment project is approved by the competent department of the state, overseas individuals may transfer the foreign exchange funds in the special foreign exchange account of foreign investors to the capital account of foreign-invested enterprises.

Article 32 An individual may open a foreign exchange savings account in a bank with valid identity documents. The income and expenditure scope of foreign exchange savings accounts is non-operating foreign exchange income and expenditure, and the transfer of funds between foreign exchange savings accounts of the same subject category between myself or his immediate family members. Joint foreign exchange savings accounts opened by domestic individuals and overseas individuals shall be managed according to domestic individual foreign exchange savings accounts.

Article 33 Individuals carrying foreign currency cash into or out of the country shall abide by the relevant provisions of the state.

Article 34 If an individual purchases foreign exchange or withdraws money from a foreign exchange savings account, and the amount of foreign currency cash allowed to leave the country according to relevant regulations is single or accumulated on the same day, he may directly go to the bank for handling; If the single or accumulated withdrawal exceeds the above amount on the same day, it shall be reported to the local foreign exchange bureau in advance with my valid identity certificate, proof of withdrawal purpose and other materials.

Article 35 If the amount of foreign currency cash deposited in the foreign exchange savings account by an individual is less than the prescribed declared amount, it can be handled directly at the bank. If a single deposit or accumulated deposit on the same day exceeds the above amount, it shall be handled in the bank with my valid identity certificate, the entry declaration form for bringing foreign currency cash or the foreign currency cash withdrawal certificate of my original deposit financial institution.