Chapter I General Provisions Article 1 These Provisions are formulated for the purpose of strengthening the management of foreign exchange business of banks, maintaining the stability of financial order and ensuring the healthy development of foreign exchange business. 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 the State Council or China. Article 3 Banks engaged in foreign exchange business must abide by these provisions. Article 4 The State Administration of Foreign Exchange is the supervisory organ of foreign exchange business of banks, and is responsible for the approval, termination, management, guidance, coordination, supervision and inspection of foreign exchange business of banks. Chapter II Application, Approval and Termination of Foreign Exchange Business Article 5 The operation and suspension of foreign exchange business by banks shall be examined and approved by the State Administration of Foreign Exchange. Article 6 Banks that meet the following conditions may apply for foreign exchange business.

1. The paid-in capital or working capital is foreign exchange cash. The paid-in foreign exchange cash capital of the State Bank is USD 50 million or other equivalent currencies; The paid-in foreign exchange cash capital of regional banks is USD 20 million or other equivalent currencies; Bank branches with independent legal personality have paid-in foreign exchange cash capital of 5 million US dollars or other equivalent currencies; Branches and sub-branches of national banks without independent legal personality have paid-in foreign exchange cash working capital of US$ 2 million or other equivalent currencies; The paid-in foreign exchange cash working capital of a regional bank branch without independent legal person status is 1 10,000 USD or other equivalent currencies. The paid-in capital or working capital of a bank's foreign exchange cash may be higher than the legal amount stipulated above.

Two, with a corresponding number of foreign exchange business and the corresponding quality of foreign exchange business personnel. Among them, the person in charge of foreign exchange business of institutions and departments should have more than three years of experience in financial foreign exchange business and have good business performance in previous business activities.

3. Having a place and equipment suitable for foreign exchange business.

Other conditions required by the State Administration of Foreign Exchange. Article 7 A bank applying for foreign exchange business shall submit the following documents and materials to the State Administration of Foreign Exchange:

1. application for foreign exchange business;

2. Feasibility report on foreign exchange business;

3. Financial business license issued by the People's Bank of China;

4. Articles of Association approved by the People's Bank of China (not required for bank branches with independent legal personality);

5. The capital verification report of the registered accounting firm designated by the State Administration of Foreign Exchange on the paid-in foreign exchange capital or working capital;

6. Balance sheet and income statement of RMB in recent three years;

7. List and resumes of institutions and departments in charge of foreign exchange business and foreign exchange business operators;

8. Brief introduction of foreign exchange business premises and facilities;

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 provide the documents approved by its superior bank or the head office to start foreign exchange business and the preparation and acceptance report of foreign exchange business. Article 8 The State Administration of Foreign Exchange shall, after receiving the application for foreign exchange business from a bank, examine it and give a reply within 90 days from the date of receiving the application for foreign exchange business. If a bank branch that does not have the qualification of an independent legal person applies for foreign exchange business, it shall give a reply within 60 days from the date of receiving the application for foreign exchange business. Article 9 Once an application for foreign exchange business is approved, a bank shall obtain a foreign exchange business license from the State Administration of Foreign Exchange within 30 days. If it is not received within the time limit, the approval document will automatically become invalid.

Banks can only engage in foreign exchange business after obtaining a license to engage in foreign exchange business. Article 10 A bank may apply for expanding the scope of foreign exchange business according to the needs of the development of foreign exchange business.

When applying for expanding the scope of foreign exchange business, a bank shall submit the following documents and materials to the State Administration of Foreign Exchange:

An application for expanding the scope of foreign exchange business;

2. Feasibility report on expanding the scope of foreign exchange business;

Three. A report on the operation of foreign exchange business;

4. Names and resumes of foreign exchange business executives and foreign exchange business operators required to expand the scope of foreign exchange business;

5. Places and facilities needed to expand the scope of foreign exchange business;

6. Balance sheets and profit and loss statements of RMB and foreign exchange in the previous year;

Seven, "foreign exchange business license" copy of the original;

8. If it is necessary to increase foreign exchange capital or working capital to expand the scope of foreign exchange business, a capital verification report on paid-in foreign exchange capital or working capital issued by a certified public accounting firm designated by the State Administration of Foreign Exchange shall be provided.

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

In addition to the above-mentioned documents and materials, the bank branch shall also provide the documents and acceptance reports that its superior bank or head office agrees to expand the scope of foreign exchange business. Article 11 The State Administration of Foreign Exchange shall, after receiving an application from a bank to expand the scope of foreign exchange business, examine it and give a reply within 60 days from the date of receiving the application. Article 12 Once the application for expanding the scope of foreign exchange business is approved, the bank shall apply to the State Administration of Foreign Exchange for a foreign exchange business license within 30 days. If the certificate is not renewed within the time limit, the approval document will automatically become invalid.

Banks can only operate expanded foreign exchange business after obtaining a new foreign exchange business license.