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What is the import foreign exchange payment verification system?

The verification and write-off system for import foreign exchange payment is to conduct a case-by-case review of the foreign exchange payment activities of designated foreign exchange banks and import foreign exchange payment enterprises through the national competent authorities, requiring import enterprises to use them strictly in accordance with the foreign exchange needs of normal trade activities. Foreign exchange, to put an end to all forms of illegal and criminal activities such as arbitrage, evasion, and fraud, and to maintain a healthy and stable financial order. It is also the responsibility of the Administration of Foreign Exchange, with the cooperation of the customs and the assistance of designated foreign exchange banks, to follow "orders" (write-offs) A management system that supervises and verifies the entire process from the import unit's import foreign exchange payment to customs declaration and arrival of the goods.

The implementation of the verification and write-off system for import foreign exchange payments does not hinder the original order of import foreign exchange payments. After the state relaxed the ex-ante approval of foreign exchange for imports, it strengthened the subsequent monitoring of import units from the payment of foreign exchange to the arrival of goods. The verification system of foreign exchange payments for imports has become an ex-post supervision system to standardize the behavior of import foreign exchange payments by import units.